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The Smith Team - Two Generations of Satisfied Customers

  Issue 335 August 4th, 2009 
Aloha ,

In this newsletter:
Market Update
Market Watch
Homes Over $1 Million
Homes Under $1 Million
Condos Over  $1M
Vacation Condos Under $1M
Residential Condos
Vacant Land



New Feature

Market Update

There is still controversy about whether or not the latest real estate market data is signalling a bottom to the market.
The naysayers point to the increasing delinquency rate on Alt A and Prime Loans as an indication that we will see a new wave of foreclosures and further declines in prices.
Those who feel the market has already bottomed or soon will, point to the increased sales and drop in inventory.
Who is right?  We wish we had a crystal ball and could tell you for certain where prices will be in a year or two from now.  Unfortunately, our crystal ball is rather cloudy at this time.
What we can tell you is that timing market bottoms is nearly impossible to do.  In some cases, prices have already dropped by 50% or more.   Are you willing to risk waiting in the hopes that you'll be able to get another 10 or 15% in savings? 
Look ahead 5 to 10 years from now, and ask yourself where prices will be.  When you put it into perspective, you will probably feel, as we do, that the risks of missing the boat are far greater than the downside risk at this time. 
Mahalo Nui Loa,  

The Smith Team

P.S.  You might ask yourself why we feature some properties where the prices seems high, given current market conditions.  The reason is because of inside knowledge as to the Seller's motivation.  Some sellers are reluctant to lower their asking price, but will accept a much lower price.  We believe this is the case with one of our favorite homes in Makena at Black Sand Beach.  When you see what this home eventually sells for, don't blame us if you missed it.  Site plan, floor plan, and additional information will be sent upon request.

P.S.S.  Ever dream of oceanfront living on the North Shore of Maui?  Owner wants this masterpiece of workmanship sold now:  Click here for more details.


Smith Team Photo on Website.jpg

Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)

Market Watch for August 3rd, 2009

 Active Pending Sold Change
Homes 1016 (411) 144 (16)   675 (104) -7
Condos 1522 (289) 145 (7)   609  (134) +8
Land  594 (182)    33 (14)   83  (29) -2
Total 3132 (882) 322 (37) 1367  (267) -1

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.

Homes Over $1M

5500 Makena Road.jpg
5500 Makena Road
$7.9M (FS)

Black Sand at Makena! Outstanding quality Executive Four Bedroom Four plus Bath Home offering magnificent views of the blue Pacific, Molokini and Kahoolawe. Nestled in a community of only 7 luxury residences, bordering the 15th Fairway of the renowned South Makena Golf Corse. This home is a touch of class! Private walkways to sand beach and wildlife preserve.

Customer Listing Synopsis

Homes Under $1M

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245 Pakalana Place

$299K (FS)


Bank Owned. Opportunity to own a home instead of a condo. Quiet location at the end of a cul-de-sac. Just blocks from the beach.

Customer Listing Synopsis

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164 W Kauai Street

$349.9K (FS)

Bank Owned. Great opportunity to rehab this home and cottage. Property has main house (3 bd 1 bath), 500 sq. ft. cottage & an accessory building.


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1349 Owaka Street

$599K (FS)


This 4 bd. / 5 bath custom home is very well maintained. Upstairs you will find an open kitchen and great room area that lead to a deck with amazing ocean views. Upgrades include granite counter tops throughout, stainless steel appliances, top of the line travertine tile, bamboo flooring, a Jacuzzi tub and separate shower in the master bathroom, a split A/C system upstairs, etc.

  Agent Listing Synopsis

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177 Kamalei Circle

$632.9K (FS)

Bank Owned. Privacy and Mediterranean styling distinguish this home on the Golf Course and consisting of a 10,045 sq. ft. lot. It is a spacious 3,065 sq. ft. three bedroom, three-bath home that showcases vaulted ceilings in the Master Bedroom complete with retreat and Jacuzzi tub with a pool. 


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347 Holopuni Road

$950K (FS)

Great Lower Kula location in desirable Kula Glen offering the ideal island climate at the 2300’ elevation. The beautifully upgraded kitchen, the apex of the home, is open to the living areas making entertaining a pleasure for you and your guests. 


Vacation Condos Over $1M

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Ho'olei P3

$2.35M (FS)

Positioned directly across from the Four Seasons and Grand Wailea Hotel Resort and Spa, Ho'olei truly represents the best Wailea has to offer! This brand new condominium development consists of 120 voluminous two-story town homes that feature top of the line construction, outstanding services, and all of the World Class amenities of the Grand Wailea Resort and Spa. Residence P3 is located in the highly sought after P Building.

Customer Listing Synopsis

Vacation Condos Under $1M

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Maui Vista #1413
$320K (FS)

Price just reduced. Motivated seller. Don't miss your chance. Really nice condo in Kihei. 4th floor, huge 2 bed, 1.5 bath, & 1 parking stall.


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Kapalua Golf Villas 18P 3,4
$658K (FS)

One of the best locations at the Kapalua Golf Villas. This Patio level 2 bd. 2 bath in Building 18 is situated on the ground floor along the 10th fairway of the Kapalua Bay Golf Course. This villa has been nicely decorated and sold furnished. 

  Customer Listing Synopsis

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Paki Maui #423
$699.9K (FS)

Bank Owned. Clean ocean view unit in Paki Maui. This 2 bd. 2 bath unit is 1,082 sq. ft. and has stunning ocean views. Complex also has in ground pool. Close to all your amenities and beautiful world class beaches.


Residential Condos

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Kihei Shores A-002
$182.9K (FS)

Bank Owned. Lower level upgraded bathroom & kitchen with granite counter tops. Must see to appreciate. Across the street from world famous Kamaole III beach park. Minutes from Wailea resort area.

  Customer Listing Synopsis

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  Pacific Shores A-311
$269K (FS)

Beautiful upgraded 2 bd. 2 bath condo in popular well maintained complex. This South Kihei location is excellent. Right across the street from one of Maui's best beaches, Kamaole Beach Park I. 

Customer Listing Synopsis

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Kai Ani Villages 1-102
$389.9K (FS)

Kai Ani Village is Kihei's most distinctive new condominium community. The "Hoku" floor plan is an open-style charmer featuring a versatile great room and an adjacent dining area with an easy flow that is ideal for entertaining or simply enjoying time with the family. Two spacious bedrooms with their own individual baths add to the flexible nature of this layout. 

  Customer Listing Synopsis

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  Masters #3201
$825K (FS)

Short Sale. Great opportunity to purchase a rare “D” floor plan overlooking the 9th fairway on the Ka'anapali Royal Golf Course. The Masters is a one-of-a-kind gated condominium community with less than six units per acre of lush tropical landscaping. Luxury amenities include tennis courts, swimming pools, hot tubs and large park areas.

Customer Listing Synopsis

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Kapalua Ironwoods #52
$2.626M (FS)

Kapalua’s best kept oceanfront “high end” secret. The Ironwoods consist of 40 condos, private security gated community on Oneloa beach/ bay. Unit 52 is the best location in the community. Backyard is the oceanfront pool, Jacuzzi complex with fully equipped gym & community rec center with showers & full baths. Contiguous office/ clubhouse building includes full time community secretary/ concierge to manage absentee owner business as required.

  Customer Listing Synopsis

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Papali Wailea #11
$2.675M (FS)

This is your opportunity to own at one of Wailea's most premier addresses. Papali Wailea is a 24 unit residential condo development situated on over 10 acres of private, tropical landscape. This home sits perfectly positioned to enjoy expansive ocean and outer-island views. Exceptionally designed single-story, 3 bedroom 3.5 bath home with attached garages and storage, high volume ceilings, custom cabinetry and appliances.

  Customer Listing Synopsis

Vacant Land

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78 Moolu Circle
$197.5K (FS)

New Waikapu Mauka subdivision vacant lot. The water meter is already installed and the 8,029 sq.ft. lot is cleared. It allows for a custom designed single family home. 

  Customer Listing Synopsis

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  0 Old Makena Road
$6.9M (FS)

1.55 acres of outstanding property across from the beach near the Maui Prince. Located at the end of the cul-de-sac in Old Makena. Property has been approved for 4 condominium home sites and has 5 water meters. See attached artist renderings for more information.

Customer Listing Synopsis

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Coldwell Banker Island Properties
3750 Wailea Alanui Drive Suite B-35
Wailea, Hawaii 96753

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