| Should you cash out while you can? With home prices soaring, more and more people are asking themselves that same question. Believe it or not, according to Jon Birger with Money Magazine, the odds of success are very low with a couple of exceptions. Read the entire story before you decide whether or not to second guess the market. There are some areas of the country that are slowing down, but so far we have not seen any major real estate market where year over year prices have dropped. Denver, Colorado is an area that has lost a considerable number of jobs over the last few years, but even in this market prices went up a modest 1.77% in the first quarter of this year when compared with a year earlier. When compared with how much Maui real estate prices have increased (Median price at the end of June 2005 was $735K vs. $516K a year earlier), it is no wonder why people are wondering about a possible bubble. Of course, one of the big differences is that Maui is at virtually full employment and keeps adding new jobs. In addition, our main industry, tourism, is expected to set a new record this year. When you couple this with the low interest rates, the demand for second homes, vacation condos, and retirement properties from Baby Boomers, it is no wonder the Maui real estate market has been so hot. Another area of the country that has seen explosive growth is Orange County, California. It is often said that the California real estate market is a leading indicator to what happens in Maui. From what we have read, the lag time is about 6 to 12 months. Here is a recent forecast from the Los Angeles Economic Development Corporation predicting that Orange County Housing Market will level off.For those who may have been priced out of the market on Maui, but still wish to enjoy the Hawaiian lifestyle, consider the Big Island. You can still buy lots for under $100,000 in the Puna area. For more information about Big Island real estate, we recommend that you contact Greg Gerard with Clark Realty Corporation. Visit his website and let him help you find your piece of paradise. Please be sure to tell him that you were referred by "The Smith Team".Have a wonderful week. Mahalo Nui Loa, The Smith Team (Greg, Ken, & Dawn)   |
 111 Kamaiki Circle Kahului $1.2M (FS) | | Beautiful new custom home on large golf course lot with fabulous views of the West Maui Mountains. Very private, looks down eighth fairway. Home has custom hand-etched glass doors, vaulted ceilings, Travertine marble throughout, granite counter tops, central a/c, upgraded kitchen w/ stainless steel appliances, crown molding, large covered lanai - finished in slate, alarm system, professionally landscaped w/ auto sprinklers and more. |  10 Malu'aina Place Haiku $1.2M (FS) |
| Two acres of tropical, mature landscaping and trees surround this private home and cottage. Both houses have been kept in good condition. The main house has a new refrigerator, an alarm system, rheostat lighting, hardwood dining area and granite kitchen counters. The grounds are lovely and well maintained. There is also a large work/nursery shed and adorable 200 sf studio. |  2397 Puu Mala Place Kihei $1.295M (FS) |
| This custom 2 story 5 bedroom, 4 bath home is located in one of Kihei's most desirable neighborhoods. Some of the many fabulous features of this home include vaulted ceilings, granite counter tops, tiled floors, marble baths, 2 zoned central AC, extra large 3 car garage and a private, spacious back yard with lots of room for a pool and spa. Enjoy ocean and breathtaking Haleakala views. |  131 Aleiki Place Kuau $7.47M (FS) |
| Enter the courtyard of this fabulous beachfront estate. "Seabreeze" is situated on a sandy beach in popular Kuau location. Meticulously cared for this gated home includes 5 bedrooms, 6 baths, hot tub with gazebo, sauna, swimming pool, gourmet kitchen and more. Two of the bedrooms are master suites with beautifully tiled bathrooms. |
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 12 Hakalani Place Wailuku $719.5K (FS) |
| This is an exclusive 550 acre planned community by Developer Stanford Carr. This fabulous 2 story home is scheduled to be ready for occupancy the first week of August and comes with a tile roof, granite countertops, 120 gal. heater, sliding door in family room, garage man door, and is fully insulated. |  19 Nanakula Place Wailuku $795K (FS) |
| This home is located on a cul-de-sac with an unobstructable view. Level area large enough for a pool, ready to be landscaped as you've always dreamed. Home features tiled entry, granite countertops throughout; honey colored cabinets and black appliances for a designer look. 11,570 sq. ft. lot is one of the largest in the subdivision. |  28 Mano Drive Kula $825K (FS) |
| Nice, big, comfortable 4/3 home in Kula Kai with vaulted ceilings, a newer kitchen with granite counter tops, tons of storage and a very flexible floor plan. This would be a great house for a large or extended family as the downstairs offers independence from the rest of the house. Lots of deck and patio area to enjoy the perfect climate. |
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 Maui Banyan #G-506 Kihei $512K (FS) |
| Located in desirable "G" Building. Partial ocean and Haleakala views. Cool side of the building, top floor, and in Aston Rental Program. Across from Kamaole Beach Park II and close to restaurants and shopping. 2 pools, with 2 hot tubs, barbeques & cabanas, tennis court and putting green. Hardwood floors and much more. |  Kamaole Sands #10-305 Kihei $525K (FS) |
| A rare find in Kamaole Sands, This unit has it all, location, view and large lanai. Unit is upgraded, and in good condition. Pool area consists of one large pool, a small pool for children, 2 Jacuzzis, and an activity center. Location directly across from Kamaole Beach #3 gives unit a good cross breeze. |  Kaanapali Shores #137 Kaanapali $650K (LH) |
| A very private setting looking out on the tropical garden ground floor two bedroom, two bathroom lock-off unit. Aston Kaanapali Shores offers swimming pools, spa/hot tub, gym, tennis courts, a beauty salon and a restaurant located on the ocean front property at the famous Kaanapali Beach. |  Grand Champions #168 Wailea $750K (FS) |
| Beautifully remodeled with granite. Luxury furnishings are included. Great location on the Wailea Blue Course with Ocean View. Easy walk to the Shops at Wailea, the Resort Beached and all the amenities that Wailea has to offer. * Last sale also included because there are more photos. Given how much the market has gone up since this condo last sold in March 2004, this appears to be a very good buy. |
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 Kihei Shores #F-103 Kihei $295K (FS) |
| Recently renovated ground floor unit near the pool. Renovations include tile floors, new carpet in both bedrooms, crown molding, new toilets, and bamboo chair rails. Complex located across the street from Kamaole III Beach in South Kihei. Great Location! Unit is being sold unfurnished. |  Haleakala Gardens #8-F Kihei $339K (FS) |
| Quiet upstairs, spacious 2 bedroom, 2 full baths apartment of 883 sq. ft., enhanced by soaring cathedral ceilings (for additional storage options). Mtn. view thru kitchen window. 1 covered parking stall conveniently close to apartment. Beaches, shopping, schools just minutes away. |  Lanakila #A-107 Kihei $409.9K (FS) |
| Very nice 2 bedroom unit. New carpet & paint, Excellent Condition. Ideal location, great private back deck, townhouse style, 2 story, large bedrooms and pergo style flooring. |
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