| This week there was a presentation by the Chief Economist for the Bank of Hawaii, Paul Brewbaker, about the state of the real estate industry in Hawaii. You can read the report by going to the Bank of Hawaii Website. Click on “What’s New” and pick the most current date.For those of you who don't have the time or inclination to read this report, here is a summary of the salient details. 1. Interest rates should remain near their historically low levels for the rest of the year. 2. Hawaii real estate is still selling at a discount to California real estate (approximately 20%) when it often has traded at a premium.3. Job growth is strong and unemployment is well below the national average in Hawaii (about 4.5%). 4. Tourism should remain strong fostered by many people not wanting to travel abroad and the weak dollar. 5. Baby boomer's penchant for buying vacation, second, or retirement homes will remain quite strong. This group will be benefiting soon from transfer of wealth from their parents. Based on these and other factors, the real estate market in Hawaii should continue to do quite well this year. The only thing that could derail it, according to Mr. Brewbaker, would be an extraordinary event such as a devastating hurricane like the one that hit Kauai in 1991, an escalation of the war or outbreak of new war, some biological disaster such as SARS, a large scale terrorist incident, or some other geo-political type of event. Barring one of these things happening, people will continue to buy and there will be upward pressure on prices due to the demand and lack of inventory; however, part of this upward move in prices is predicated upon the expectation amongst buyers that prices will move higher. Once that expectation has all but dissipated then we will see a plateauing or possibly even a decline in prices. According to the economist, he does not see that happening this year, so expect another great year in real estate. Have a wonderful week and let us know how we can help you take advantage of this booming real estate market on Maui. Mahalo Nui Loa,The Smith Team (Greg, Ken, & Dawn)   |
2175 Hana Highway
Haiku
$4.95M (FS) |
| ONE OF A KIND ON MALIKO POINT! A private paradise with full ocean views from every window. Note that there has been a huge price reduction. These sellers are ready to move. Buy this home fully furnished right down to the awesome car collection, boat, wave runner, art, and more. This is an unbelievable value! | 
401 Holokai Road
Haiku
$2.5M (FS) |
| A luxury home with incredible ocean views. Custom 4 bedroom, 3 bath home built with the finest of materials. Granite counter tops, travertine flooring, designer cabinets, vaulted ceilings, top of the line appliances, monier tiled roof. Great views from dining room, living room and master bedroom; all leading onto the tiled lanai with swimming pool and spa overlooking the beautiful blue Pacific. | 
3417 Keha Drive
Kihei
$1.895M (FS) |
| Five large bedrooms all with full baths. Half bath off family room and full bath off living room. Large gourmet kitchen. Kitchen and baths have hot water on demand. Master bedroom wing is rear of home. Security system. Two car garage with work bench. Paved parking for 8-12 cars. Views overlook Pacific ocean, offshore islands and Maui sunsets. Fifty three foot lap pool with pool house. Palm tree lined driveway gated for privacy. | 
187 Awaiku Street
Lahaina
$1.875M (FS) |
| Beautiful 4 bedroom,3.5 bath home on the Front line in Launiupoko. Spectacular ocean views, sunsets and Whales in season. Built in 2000, this fine home contains over 3700 sq ft under roof. Great attention to detail in the construction of this home, including Central AC,Sound system,designer lighting and Gourmet kitchen/Pantry area. The property also includes a separate art studio which has One Bedroom, kitchen and full bath and wrap around Lanai. |
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151 Ulana Street
Makawao
$620K (FS) |
| Spacious 3 bedroom/2 bath home with a detached ohana located in the desirable neighborhood of Maui Uplands. Main dwelling has a sunken living room with a fireplace and open floor plan to the kitchen and dining area. Lots of decking with a covered lanai that features a hot tub. This place is great for entertaining! The 2 bedroom/1 bath ohana has been freshly painted and has its own access and parking. |
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58B Mohala Street
Pukalani
$408K (FS) |
| This charming residential condominium home is extremely spacious and offers lots of privacy. All rooms have been newly painted and have custom window coverings. New berber carpet throughout. The wooden closet doors, cabinet doors, and the entrance doors have been re-finished. The fixtures in bathrooms and kitchen are new and some of the appliances have been replaced. The fenced yard is beautifully landscaped and has a sprinkler system. |
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Residential Condos Under $500K 
Harbor Lights, #A-309
Kahului
$129K (FS) |
| Don't miss out on an opportunity to own a 2 bedroom 1.5 bath apartment in one of Maui's most popular condominium complexes. Convenient central location that is close to stores, schools, shopping, restaurants, entertainment and nearby beaches. This unit has been completely remodeled with new carpets, fresh paint, and new appliances. Fresh and clean, ready to move into! | 
Kihei Villages I, #22-103
Kihei
$225K (FS) |
| Very sweet two bedroom, 1 1/2 bath condo just across the street from a golden sand beach. TWO PARKING SPACES included! Beautifully upgraded with tile through-out. Large side yard with West Maui Mountain views and tiled lanai, great for sunsets. Oversized separate washer and dryer. Available completely turn-key furnished even down to the tools and golf clubs. |
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Makena Surf, #C-106
Makena
$1.695M (FS) |
| This ground floor 2 bedroom, 2 baths is absolutely spectacular with inspiring ocean views that allow you to whale watch from your lanai. The Makena Resort is very secure being a gated community, located on one of the best beaches offering you some of the best snorkeling on Maui. Amenities include two swimming pools, four tennis courts and the championship golf courses Wailea and Makena within a mile of you. This is a ground floor and is extremely private with many upgrades, as it has been remodeled in 2001. |
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Vacation Condos Under $1M 
Royal Mauian, #604
Kihei
$580K (FS) |
| Waterfront 2 bedroom unit at the best Kihei has to offer. Original condition, building has rooftop garden. | 
Menehune Shores #226
Kihei
$349K (FS) |
| This is currently the lowest priced 2bd/2ba oceanfront condo for sale in Kihei! There are absolutely FABULOUS OCEANVIEWS from this 2nd floor unit. This complex offers a great rooftop dining and gathering area with stunning ocean and mountain views! Best of all....miles and miles of white sand beaches, are just steps away! | 
Kamaole Sands #9-206
Kihei
$349K (FS) |
| This beautiful one bedroom 2 bath unit was completely remodeled in 2002. Check out all of the photos and you'll see that this is one of the most nicely upgraded Kamaole Sands condos that has come to the market in a long time. It won't last, so if you'd like to make an offer, better hurry. There is already one offer that is in negotiation right now. |
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