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

  REO

All Properties
New  Properties
Price Reductions

Short Sales

Homes
Condos
Land
New Properties
Price Reductions

Market Update

Each week we pay close attention to which properties in the newsletter get the most clicks.  In most cases the most expensive properties capture imaginations as well as mouse clicks.  Therefore this week we'd like to draw your attention to four multi-million dollar Maui estates that have sold within the past 60 days.

4950 Makena Road- Located less than a five minute drive from the Grand Wailea Resort, this home is part of a small development called Makena Place consisting of 10 oceanfront lots.

300 and 302 Pa'ani Place- The only one of the four properties not located on Maui's South Shore.  The new owner of this North Shore estate located in Spreckelsville, Maui will enjoy over 200 linear feet of unobstructed oceanfront.

3040 South Kihei Road- The first of two properties that have sold on Keawekapu Beach this year.  One of the premier estates located on one of Maui's finest beaches. The new owner of this home will enjoy year round sunshine and views of Molokini, Kaho'olawe, and the spectacular surrounding blue ocean.

3076 South Kihei Road- The second estate to have sold this year on Maui's treasured Keawekapu Beach.  As you'll see from the photos, this home is nothing short of spectacular.

So those are the four amazing oceanfront estates that have sold on Maui within the past 60 days.  All four of these transactions were "cash" sales. Is it a coincidence that these sales (some of the highest sales on Maui so far this year) totaling over $44 million took place within the past 60 days?  We think not.  Smart money has begun pouring into Maui.  And for good reason.  The market has begun to turn.  Will we see price appreciation immediately?  Not likely.  And if we do, it won't happen quickly.

One thing is for certain, inventory levels have consistently declined during the past 9 months—and when demand exceeds supply prices start to go up.  How soon will that be?  In some segments of the market it has already started.  We don't know when it will take place across the board.  But we believe one thing is true: Maui is one of the premier destinations in the world and Maui real estate is on sale today. 

In many areas of Maui we have reset to 1990's prices.  That's incredible!  Smart buyers recognize 1990's pricing paired with the turning of the market equals opportunity.  The people who buy multi-million dollar estates are often the savviest of buyers.  It's no coincidence that they are seizing the current opportunity.

Have a wonderful week,

The Smith Team

P.S. Would you like to us to feature more multi-million dollar sales in future newsletters?  In addition to multi-million dollar estates, what other types of property would you like to see more of?  Your feedback is always appreciated!

Market Watch for September 12th, 2011

Homes Over $1M

Homes Under $1M

5177 E Hanawai Street Napili $219.9K (FS)		Bank Owned. This home is part of a planned unit development and has an adjoining wall and roof. With a good location which backs up to a green belt. County records show it as a 3 bedroom 1 bathroom dwelling however previous owners have added additional partition walls creating additional rooms a half bath and an additional non-conforming apartment with kitchen and bath. Customer Listing Synopsis
919 Kahoku Place Kihei $342.5K (FS)		Bank Owned. Large 2 story home on cul-de-sac in Piilani Village subdivision. Open Floor plan has nice flow, with just the master suite located upstairs, and all other living area downstairs. large Laundry room, covered lanai, 2 car garage, and completely fenced rear yard. Located in Central Kihei, close to all amenities. Customer Listing Synopsis
2869 Ualani Place Pukalani $414.9K (FS)		Bank Owned. When repairs are completed, this home will offer a new range and new carpets throughout. Looking out onto the Pukalani Golf course, this home offers a lot of potential for any buyer. Located near shopping, dining, schools and churches, this home is one to consider. Customer Listing Synopsis
33 Moana Avenue Kihei $575K (FS)		Bank Owned. Moana Estates single-level home, 3 bed. 2 baths in good condition. Short walk to the beach. Customer Listing Synopsis
12 Paalae Place Wailuku $580K (FS)		Bank Owned. Big ocean views from this two story 4 bd. 3 bath custom home with family room. It's in great shape, with top of the line appliances and finishes, central air, ceiling fans and solar. Located at the end of the cul-de-sac on a flag lot. It's private & good for kids and pets. Customer Listing Synopsis

Vacation Condo Over $1M

Makena Surf E-303 Makena $2.2M (FS)

Nearly impossible to get closer to the water in a luxury oceanfront condominium. Unstoppable ocean, beach & sunset views every day of the year. Situated in the incredible resort district of Makena in South Maui, this unit offers flexibility in being vacation rentable. Makena Surf offers 2 swimming pools, tennis courts, a gated entry and is situated on one of Maui’s most incredible beaches. Customer Listing Synopsis

Vacation Condos Under $1M

Kihei Bay Surf #232 Kihei $115.9K (FS)		This upstairs condo has a clear view of Haleakala. Conveniently located directly across the street from beach. This complex also offers: in ground pool with Jacuzzi, tennis court, and BBQ area. Customer Listing Synopsis
Ka'anapali Shore #736 Ka'anapali $300K (FS)		Short Sale. This is a stunning 7th floor studio condominium with stunning views of Molokai and the Pacific on the quiet side of Ka'anapali Shores. You will relish the warm mornings sitting on your lanai gazing out at paradise. The inside of your condo is all new. Newly installed Kraftmaid cabinets topped with dark rich granite and surrounded by new stainless steel appliances. Customer Listing Synopsis
Luana Kai C-107 Kihei $333K (FS)		Pristine and meticulously kept one bedroom, one bath, fully furnished, beautifully remodeled ground floor unit at the popular Luana Kai Condominiums. Unit has new granite counter-tops, new cherry wood cabinets in the kitchen, new water heater, new washer and dryer, new vinyl windows in bedroom and the jalousie window replaced with a solid pane of glass in the living room. Customer Listing Synopsis

Residential Condos

Villas at Kahana Ridge #235 Kahana $262.5K (FS)		Bank Owned. Wonderful location. Walk up 2 flights of steps to an outstanding view. Located at the far right side so only sharing one wall. This 3 bedroom, 2 bath also has a finished loft for additional living space & has been recently repainted. Customer Listing Synopsis
Kanani Wailea #22 Wailea $799K (FS)		Simply gorgeous single family home condo. This exceptional property gives the best of both worlds-a free standing home with the lifestyle & convenience of a condo to lock and leave. Plus a 2 car garage and a community pool. Customer Listing Synopsis

Vacant Land

Lanikeha Lot #67 Ka'anapali $300K (FS)

Bank Owned. Hands Down: the best deal for vacant land in all of West Maui. Lot 67 is the lowest priced residential lot in all of Ka'anapali by almost $100K. Lanikeha is located within the greater Ka'anapali Golf Estates subdivision and is the newest and arguably most luxurious community in all of Ka'anapali. This lot is located directly across the street from the breathtaking clubhouse reserved for the exclusive use of Lanikeha residents. Customer Listing Synopsis