| Maybe you have been wondering as we have, "Just how high is high". When will buyers say, "No more". Lately, sellers seem to have had no problem raising their prices week after week., and so long as the buyers keep paying these prices, the market will likely continue to go up. We feel that this can only go on for so long before buyers are going to say "Enough already". We have seen prices on low end homes and condos rise by about 50% or more in the last two years and over 100% in the last 5 years. Even with super low interest rates, this kind of dizzying pace of appreciation won't last forever. Don't get us wrong, however. We are not saying to necessarily cash in your chips and sell everything; although that might not be a bad idea in certain cases. Mostly, we would just like to inject a note of caution into your thinking. Nothing goes up forever as many of us painfully found out in the stock market crash of 2000. Real estate cycles as well. It is very possible that real estate prices might continue going up for another year or two, but we think sometime in the not too distant future, there will be a leveling off and possibly a retrenchment in prices. You might be wondering then why we keep making recommendations for certain properties calling them hot buys. The reason is simple. We don't have a crystal ball for starters, so anything we say in regards to future price inflation or deflation is just a guess on our part and should be taken with a large dose of salt. Secondly, we know there are those of you who want to buy for a myriad of personal reasons such as to take advantage of low interest rates, for pride of home ownership, etc. With this being the case, we are going to continue pointing out those properties which we feel represent the best values relative to the market today. Such is the case again this week with our selection of best buys and featured listing. Speaking of which, if you are looking for a fabulous estate property with 20 acres in one of the most ideal climates on Maui, check out our featured property this week. Land....they are just not making any more of it and on Maui, these kinds of large estate parcels are going to become rarer and rarer. |
20 Pahee Place
Kahului
$499,000 (FS) |
| 4 Bedroom, 3 Bath home with OCEAN VIEWS from almost every room. Brand New and never lived in, this home is located in the prominent gated community of The Island at Maui Lani. Fresh, sparkling neutral interior, steel framed, stucco exterior with tile roof and central air-conditioning. 1696 sq. ft. of living area plus 2 car attached garage. | Photo Available Upon Request.128 Makalauna Street
Kihei
$429,000 (FS) |
| Lovely Ka'onoulu Estates Home. Clean in and out with large screened lanai , central A/C and lots of extras. Plantation style split floor plan. Lush landscape and auto sprinklers. Excellent neighborhood. This one won't last, so call for showing. |
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96 Star Route
Hana
$1,300,000 (FS) |
| Only a few miles from Hana town and not far from the famous 7 pools, this is as good as it gets. The lush grounds add to the gracious setting. Enjoy sweeping ocean vistas and views of Mauna Kea on the Big Island. 1.225 acres are zoned rural and 2 acres are in AG. Property borders 75 acre reserve. | 
3919 Wailea Ekolu Drive
Wailea
$1,950,000 (FS) |
| Contemporary Hawaiian flavor welcomes you to this two story, custom designed Golf Estates residence. This home features formal living & dining room areas, tiled kitchen that leads to the Great Room with wet bar and large screen TV, 3 bedrooms, 3.5 baths. |
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Homes $2 Million and Over 
27 Holo Place
Spreckelsville
$2,500,000 (FS) |
| Fabulous beachfront beach house. Private, unique, white sandy beach. Great location with unobstructed ocean views! House is under renovation. |
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Homes w/Ohanas $300 to $400K Photo Available Upon Request.1045 Mahanani Place
Makawao
$379,000 (FS) |
| Three bedroom 1 bath with an office and family room + a 2 bedroom 1 bath ohana. Has a back yard and a covered patio. Hardwood floors on main house. Centrally located in Makawao; close to schools and park. |
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Homes w/Ohanas $500 to $800K Photo Available Upon Request.77 Akea Place
Kula
$798,000 (FS) |
| Everything is wonderful about this private and charming Kula property. The Home and detached Ohana have been completely renovated in 2002 with Bamboo floors, new paint, new bathrooms and extensive landscaping. The property is just under a half acre with a beautiful ocean view. |
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Homes w/Ohanas over $1 Million 
325 Kuakini Loop
Kahakuloa
$1,900,000 (FS) |
| This executive home is a true gentleman's ranch. Absolutely glorious ocean views. Fabulous home with gourmet kitchen and a media room. Located in an exclusive private community of Maluhia Country Ranches. Perfect for the person who wants perfection, seclusion, and privacy. | 
465 Hana Highway
Kuau
$2,900,000 (FS) |
| Fabulous Beach House located on a white sand beach at Tavares Bay. Fully renovated with stone floors, gourmet granite kitchen, marble baths, gated entry and copper roof. Best surf and wind surfing location. Pristine, Immaculate, Luxurious. |
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Residential Condos Under $100K Photo Available Upon Request.Maui Lani Terraces
#F-201
Napili
$79,900 (FS) |
| A great deal for a first time homeowner or investor! |
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Residential Condos $100 to $200K Photo Available Upon Request.Kihei Villages #35-105
Kihei
$150,000 (FS) |
| Well-maintained 2-bed ground floor unit. Walking distance to the beach. | Photo Available Upon Request.Kihei Villages #41-102
Kihei
$145,000 (FS) |
| Two bedroom, one and a half bathroom condominium on first floor. | Photo Available Upon Request.Southpointe at Waiakoa
#3-104
Kihei
$155,000 |
| Large ground floor unit with parking conveniently located right in front. Nice yard for pets and children. Newer range, refrig, washer and dryer. | Photo Available Upon Request.Keonekai Villages
#13-101
Kihei
$147,500 (FS) |
| Two bedroom, one bathroom condominium on first floor. | 
Iao Gardens #111
Wailuku
$130,000 (FS) |
| Attractive building in the heart of Wailuku. Walk to County, State & Federal Buildings. Close to all conveniences. Nice interior with waterfall in atrium. BBQ area. Covered, assigned parking. Ocean view from this unit. Brand new water heater. This is a great place at a great price!!! | 
Kihei Shores #A-102
Kihei
$119,000 (FS) |
| Great One Bedroom Floor Plan. Great Location. Short walk to Kamaole three beach, shopping & restaurants. |
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Residential Condos $200 to $400K Photo Available Upon RequestWailuku Townhouses #706
Wailuku
$250,000 (FS) |
| LOCATION, LOCATION, LOCATION. Come see this 2-bedroom, 1-bath condo located right in the heart of historic Wailuku Town. This well-maintained Wailuku Townhouse unit is on the 7th floor just below the penthouse and boasts awesome ocean and valley views. | Photo Available Upon RequestThe Gardens Upcountry #18
Pukalani
$399,000 (FS) |
| Rarely available town home located at The Gardens Upcountry. Attractive complex with a large open landscaped courtyard. Sweeping mountain and ocean views too! Open, roomy and very spacious 2 bed/2.5 bath two story condo, with wood floors in the kitchen and entry. | Photo Available Upon RequestThe Gardens Upcountry #3
Pukalani
$375,000 (FS) |
| A very elegant upcountry Townhouse. Features two full floors: 2 lg. bedrooms & 2 full baths upstairs with his & her walk in closets in master BR & 2 full size closets in 2nd bedroom. Downstairs features 2 story tall ceilings in living room, 1/2 bath, laundry room, storage closet, dining area & beautiful kitchen. |
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Residential Condos Over $1 Million 
Wailea Point #1903
Wailea
$1,600,000 (FS) |
| Seaside luxury condo with outstanding amenities. Enjoy the Oceanview along with all the fabulous pools, hot tubs, pavilions, indoor exercise facility, and 24 hr. security on the best oceanfront location in Wailea. |
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Vacation Condos $100 to $200K 
Kihei Resort #108
Kihei
$157,000 (FS) |
| A Kihei Resort unit that you don't want to miss. This unit is clean as a whistle. New tile in the kitchen and a completely new bathroom. Newer microwave in the kitchen with all the other appliances in great shape. Two window A/C units stay with the unit. | 
Kalama Terrace #101
Kihei
$125,000 (FS) |
| Convenient ground floor unit on the corner. Tandem 2 car parking stall next to unit. Nice beach & shopping a stroll away. Clean & tidy, large tropical courtyard setting with pool & BBQ. A steal in today's market. |
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Vacation Condos $300 to $600K Photo Available Upon Request.Kamaole Sands #7-410
Kihei
$362,000 (FS) |
| End unit with large side window, 2 bedroom 2 bath top floor unit with spiral oak staircase, cathedral ceiling .View of garden and pool. Great location. | 
Maalaea Kai #106
Maalaea
$388,000 (FS) |
| Maalaea Kai is an OCEANFRONT, concrete building on 2.3 lush acres fronting one of the best views on Maui. This 2B/2B GROUND floor unit comes fully furnished and ready for vacation rental or to move on in! FANTASTIC OCEAN VIEWS from the Living Room, Dining Area, Master Bedroom and Lanai overlooking the pool. | 
Royal Mauian #104
Kihei
$549,000 (FS) |
| You won't believe the value in this oceanfront complex. Owners pride is evident throughout this upgraded ground floor unit. New berber carpet and fresh paint throughout. Fully furnished and perfect for second home or vacation rental. |
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Vacation Condos $600 to $800K 
Napili Point #C-3
Napili
$750,000 (FS) |
| A rarely available 'Point' unit! Incredible ocean, island, whale, and sunset views, directly on the water! Recently upgraded with new carpet, mirrors, countertops, and paint. Unit is in the excellent on-site rental program. |
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For those of you looking to buy your first home or for investors looking for reasonably priced homes, we want to call your attention to a new project that will be going to market in about a month. This project to be named "The Legends", will be built by Schuler Homes near the Dunes Golf Course Clubhouse.
In order to keep the cost down, homes will be built on smaller than normal lots (around 4000 sq. ft. on average). This greater density will allow the developer to keep the prices down to a level that is sure to attract a lot of attention. In fact, there is so much potential interest already in this project that the developers are planning to sell the homes by lottery.
We are told that the homes will be similar in design to the very popular models at the gated community known as The Island. Those homes which were originally priced from $350,000 to $450,000 are completely sold out now with some resales happening at prices of $50,000 to 100,000 or more above the original prices. Here is a link to more information about the Master Planned Community of Maui Lani.
We will have more to say about this project as soon as we have more information. In the meantime, if you want to be on the list to be eligible for the lottery, please let us know and we will register to you.
Have a wonderful week.
Mahalo Nui Loa,
Ken and Greg Smith
Bruce Tapley
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