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Aloha ,
Market Update
Buyers are feeling a sense of urgency to buy now as prices are inching higher, and mortgage rates are expected to follow. Read more.
Further stoking the fire to act now is the fact that it is often less expensive to buy vs. renting. The rental market on Maui is extremely tight right now with rents running 20 to 30% higher than last year.
Below, we featured a Residential Condo Home at Ho'olea Terrace #1705 for $264K. Checking on Craig's List, it is hard to find any nice 2 bedroom condos for under $1200/month. This about the same as one would pay on an FHA 30 year amortized loan with only a 3.5% down payment. Of course, when you own, you get to build equity, have tax write-offs, and all the other benefits of home ownership.
If you can afford to buy a home with a detached ohana, the results can be even more dramatic in terms of the discrepancy between renting vs. owning. 662 Kaapuni Place would be a good example where someone could use the rent from the cottage and ohana to pay most of their mortgage.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. - Coming on Friday to the Maui Arts & Cultural Center, we get to enjoy the wit and wisdom of none other than Bill Cosby. The arts are alive and well on Maui.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for March 25th , 2013
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Active
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Pending
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Sold
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Change
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Homes
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501 (291)
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243 (34)
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941 (121)
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-2
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Condos
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759 (194)
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320 (20)
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1234 (106)
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-14 |
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Land
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385 (104)
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38 (7)
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179 (22)
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-7
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Total
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1645 (489)
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601 (61)
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2354 (249)
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-23
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1. The numbers in parentheses reflect the number of listings over $1M
2. Sold listings are for the previous 12 months.
3. Change is the increase or decrease in number of active listings from the previous week.
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Homes Over $1M
662 Kaapuni Place
Kihei
$1.685M (FS)
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Arguably Maui Meadow’s Best view residence; this property exudes warmth. The warm textures & colors of the natural Canadian Western Cedar exterior juxtaposed with the rich slate entry tiles set the tone. Expansive Ocean views across the West Maui Mountains, Lanai, Kahoolawe, & Molokini are a perfect backdrop for this Island’s best sunsets. The spacious high ceilinged living room is bordered by a gracious outdoor wrap-round lanai.
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75 Ikena Kai Place
Kula
$1.895M (FS)
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Gorgeous country estate in the pastoral setting of the Omaopio Ridge gated community in Lower Kula. Beautiful recently completed pool with state of the art filter system. Panoramic bi-coastal views with sunsets all year around enhanced by the disappearing pocket doors completely opening to the views. Huge Master suite with private deck and den; two additional bedrooms with en suite baths and large hall ("library").
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1563 Kekaulike Avenue
Kula
$2.995M (FS)
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Private, executive, luxury home located on a private road enjoys sweeping bi-coastal views. The 2.7 acre parcel provides plenty of room for a guest cottage, art studio or barn building. The home features quality construction from the exterior to the dramatic interior; glaze tile roof, stucco over 2x6 construction, dual paned windows, 14’ ceilings, custom cabinetry, extensive use of stone work (granite, marble and travertine) and glass tiles, 2 fireplaces and radiant heat.
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18 Ua'lei Place
Makena
$4.9M (FS)
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Short Sale. This home is designed to integrate a natural environment and gracious island style living. Custom designed to fit your contemporary and island lifestyle. Enter through the Porte-Cochere and come inside to experience this magnificent home, offering 5 bedroom suites, 5 baths, a chef’s kitchen dedicated to indoor and outdoor cooking with a full service bar, a large living area, an executive office, media room, interior-exterior waterfall bar area and a 75 foot infinity edge black lava tiled swimming pool and spa.
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Homes Under $1M
167 Hookui Street
Kahului
$310K (FS)
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3 bedroom, 1.5 bath home in the Luana Gardens subdivision in Kahului. Property could use some TLC, but has potential to be a nice starter home or investment property. Back yard is level and enclosed by a hollow tile wall on 2 sides and fenced on one side.
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294 Maka Hou Loop
Wailuku
$479K (FS)
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Short Sale. Great 3 bd./ 2.5 bath at The Cottages at Kehalani. This home is at the top of the shared driveway, located at the top of the subdivision. Conveniently located just minutes from Wailuku town. Kehalani is a planned community, near schools and the new shopping center at the bottom of the hill.
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3343 Kii Place
Pukalani
$489K (FS)
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4 bd. 3 bath split-level home located at the end of the Kii Drive cul-de-sac. Sellers have added cherry laminate hardwood flooring in living as well as hardwood laminate in dining and hallway. Kitchen was remodeled in 2011 with all new wood cabinets, new electric range with ceramic cook top +conventional /convection oven, new refrigerator, tile countertops and backsplash. Haleakala views from kitchen. Large lanai accessed from dining area and master bedroom is ideal for entertaining.
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2721 Panepoo Street
Kihei
$772K (FS)
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This well cared for (spotlessly clean) home features a pool, tropical landscaping & large covered lanai. Improvements, over the last several years, include pool, appliances, central A/C (2 zones), master bath, ceiling fans, shake roof, fence, wood deck, interior/exterior paint, and much more. Also has a 10 x 20 workshop and additional storage. The interior has been configured to include a mother-in-law suite, with inside/outside access.
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3056 Akala Drive
Kihei
$947.5K (FS)
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A taste of Hana in your own back yard: 5 varieties of bananas, coffee, star fruit, exotic papayas, mangoes, citrus, pomegranate, cherry, and more. A light, bright, utterly charming home and grounds designed with care and artistry. Always immaculate and a joy to show. The master bedroom on the second level offers expansive ocean views, while private guest suites in separate ends of the lower level open onto a beautifully remodeled central great room, cheery kitchen, and relaxing covered lanai area.
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Vacation Condos Over $1M
Ho'olei B6
Wailea
$3.4M (FS)
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Best of the best. Ho'olei B6 is the premier villa in the entire community. Situated directly across from the Four Seasons and Grand Wailea Hotel, Ho'olei represents the best Wailea has to offer. With dramatic ocean views clear out to Molokini and Lanai, Ho'olei B6 boasts 3,076 sq. ft. of interior footage. The three bedrooms in this residence are like a retreat: each including an en-suite bath and plush Cabana Antigua carpeting.
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Vacation Condos Under $1M
Kihei Alii Kai D-106
Kihei
$280K (FS)
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Fantastic South Kihei location, behind the Denny's shopping center, across the street from Kamaole I Beach. Complex allows for short term and long term rentals. Large lanai in this beautiful resort complex. Tennis courts on roof top over covered parking. One of the few condos in Kihei with covered parking.
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Kamaole Sands 4-103
Kihei
$349K (FS)
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Nicely updated unit with new kitchen & partial bathroom remodel. Tile throughout and new furniture package.
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Lahaina Roads #412
Lahaina
$440K (FS)
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Lahaina Roads-direct oceanfront complex on Front Street offers beautiful ocean views, incredible sunsets and views of Lanai and Molokai all year long. Humpback Whales visit Maui every winter and will put on a show which you will be able to enjoy from your private lanai. Lahaina Roads is in walking distance to Baby Beach, Lahaina Cannery Mall, Mala Warf, restaurants and all the fun Front Street has to offer.
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Grand Champions #183
Wailea
$479K (FS)
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Short Sale. A large two bedroom/two bath unit with tasteful interior colors and a large master bath with double shower heads. The location is just right! A minute's walk to the pool and walking distance to the Wailea Tennis Club and Joe’s Bar and Grill. Five minute drive to the Shops at Wailea, golfing, dining and entertainment.
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Residential Condos
Hoolea Terrace #1705
Wailuku
$264K (FS)
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Developer Deal. Expansive Ocean and Harbor Views!! All units have 9-foot ceilings, Kenmore kitchen appliances and washer and dryer included. 2 assigned parking stalls. New Building estimated completion late Summer 2013.
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Vacant Land
1050 Anapuni Loop
Ka'anapali
$425K (FS)
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Bank Owned. Property is located in a gated community along the slopes of West Maui's mountain with ocean and mountain views. Lanikeha offers many amenities that is just as breathtaking it's surrounding, such as: a private Club House, welcoming lounge, game room, infinity pool and much more.
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