Traveling to Hawaii is certainly not as easy as it used to be, but in a recent survey conducted by  the Hawaii Tourism Authority it was found that out of the 495 visitors that were surveyed 85% said their trip was excellent, and 94% said their trip either met or exceeded expectations. This is great to see, as it means that the number of tourists making the journey to Hawaii in 2021 should continue to rise.

While tourism numbers are not nearly what they were in 2019, the Pre-travel Testing Program allows anyone traveling to Hawaii to bypass the 10-day mandatory quarantine, which would make any vacation immensely more enjoyable. Out of the visitors that were surveyed, 79% said that their pre-travel testing experience went smoothly, and the protocols were clear. The remaining 21% reported various issues with pre-travel testing including difficulty finding a trusted testing partner, and not receiving their results within the specified window.

We will continue to look forward to a rise in tourism numbers as the local economy recovers from the COVID-19 pandemic. To look at the full report, follow this link.In an interview with The Maui News, the Chief Economist with the Department of Business, Economic Development and Tourism Eugene Tian stated that nearly 30% of the homes that were purchased in the better part of 2020 were purchased by out-of-state residents. Of those buyers 27.4% were from the mainland, and 1.4% were international. While this number seems high, out-of-state residents usually purchase nearly 50% of the available real estate on Maui.

The data is still being assembled for the demographic breakdown of these out-of-state buyers, as it is unclear whether most of those purchases were made by investors, or those seeking to move their principal residence to Hawaii now that most employees and business owners can work from home.

The three aspects of the current real estate market that appear to show no signs of slowing are low inventory levels, low interest rates on new mortgages and a climbing median sales price for both condos and single family homes. In December, the Realtors Association of Maui recorded the lowest inventory ever since they began keeping records in 2010. New construction is still very active on Maui, with several affordable housing projects as well as luxury condominium complexes set to be completed  between now and 2022.

To read the full interview The Maui News did with Eugene Tian click here.
Due to the spike in COVID-19 cases on Maui, Governor Ige gave Mayor Michael Victorino the authority to amend the current emergency rules. The new rules go into effect today. Here are the highlights.

- Retail occupancy is now limited to 30% to allow more room for social distancing.

- Bars and restaurants are now required to close at 10pm or earlier. Drive-throughs, non-liquor related takeout and room service are all exempt from this new rule.

In addition to pre-travel testing requirements for both inter-island and transpacific travelers, they are also now required to download either the AlohaSafe Alert app or another Google-Apple Exposure Notification System app. Travelers can also enable their exposure notification setting on their phone.

Face coverings must now be worn while walking to and from the beach or pool. They can only be removed once you are stationary and socially distanced from the people around you.

-Even if the venue is outdoors, a mask must be worn at gyms, yoga studios, and wellness centers.

While these rules mentioned  above are slightly different from rules that were already in place, it’s important to keep yourself informed on the latest developments coming out of the Mayor’s office.
 Smith Team Real Estate - 2 Generations of Satisfied Customers - (808) 572-0866
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Issue 1076 November 14th, 2023


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 

Bank Owned 
Homes (3)
New Properties 
Price Reductions  

Short Sales
New Properties

Price Reductions 

Deluxe Oceanfront Cottage

454 Hoolawa Road
$6.95M (FS)

Maui Market Update for October 2023

image (1)

U.S. sales of existing homes recently fell to a 13-year low, dropping 2.0% month-over-month and 15.4% year-over-year as of last measure, according to the National Association of REALTORS® (NAR), as surging interest rates and elevated sales prices continue to make homeownership unaffordable for many prospective buyers. 

New Listings decreased 7.0 percent for Single Family homes but increased 6.5 percent for Condominium homes. Pending Sales increased 1.9 percent for Single Family homes but decreased 10.9 percent for Condominium homes. Inventory decreased 13.9 percent for Single Family homes but increased 34.4 percent for Condominium homes. 

Median Sales Price increased 18.0 percent to $1,269,025 for Single Family homes and 4.4 percent to $835,000 for Condominium homes. Days on Market decreased 8.5 percent for Single Family homes but increased 35.7 percent for Condominium homes. Months Supply of Inventory increased 11.1 percent for Single Family homes and 133.3 percent for Condominium homes.

Total housing inventory going into October was at 1.13 million units, up 2.7% from the previous month but down 8.1% compared to the same time last year, for a 3.4 months’ supply at the current sales pace, according to NAR. 

Mahalo Nui Loa,

Ken Smith R(S), Melissa Smith R(B), Gregory Smith R(B) 

The Smith Team
P.S. Kealia Pond in Kihei has turned pink. See below. 
This Nov. 8, 2023, photo provided by Leslie Diamond shows the pond at the Kealia Pond National Wildlife Refuge on Maui, Hawaii, that turned pink on Oct. 30, 2023.
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Market Watch
225 (187)
110 (76)
751 (473)
266 (142)
137 (79)
965 (330)
134 (60)
 27 (6)
199 (57)
625 (389)
274 (161)
1915 (860)
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 the number of active listings from the previous week.


Homes Over $1M

28 Piina Pl
28 Piina Place
$1.59M (FS)
This breathtaking 3 bedroom, 2 bath residence has been meticulously transformed to exceed all expectations. With its newly installed siding, a brand new roof, appliances, and a magnificent rock wall, this home truly stands out in every way. Step inside and be greeted by the fresh, airy ambiance that resonates throughout the home. 
77 Kahoea Place 
$1.695M (FS)
This house and cottage is a blank canvas for your HGTV wish list. The beautiful open beamed living room in the main house is longing to unhide itself from the kitchen. The deck is longing to continue around the bedroom wing! Come and check out the peace and quiet of this serene Kula neighborhood - just minutes away from Morihara store and Kula Bistro. 
106 Kaulele
106 Kaulele Place 
$2.9M (FS)
A brand new custom home under construction in Kaanapali Golf Estate’s newest high-end neighborhood, Lanikeha. With 4 Bedrooms and 4 bathrooms, this spacious modern home boasts high ceilings, stone floors, and a large circular driveway. A pool has been permitted and can be easily added. 
885 Pulehuiki
885 Pulehuiki Road
$3.297M (FS)
This peaceful 4 bedroom 3.5 bathroom estate. Set on the slopes of Haleakala at the ideal 2,960 ft elevation, boasts ocean views from the island of Kaho’olawe to the South Maui shore. The Photovoltaic system, which is net-metered and owned outright. The estate is designed to be both beautiful and practical, offering several comfortable and stylish living spaces. 

Homes Under $1M

248 Nakila Place
$725K (FS)
This home has a flexible floor plan that is currently broken up into two separate living spaces. The first space is a 1 bedroom 1 bath floorplan that was completely remodeled in 2021 with a large bathroom and walk-in closet, and a private entrance and carport. The second space is a large 2 bedroom, 1 bath floorplan with a ton of potential, and includes a separate entrance and carport.
850 Kekoa
850 Kekoa Place
$836K (FS)
Potential Short Sale. Large 3 bedroom 2 bath home in Waiehu Heights. Wonderful views of West Maui Mountains, Haleakala and the ocean. Step out to the yard, which has beautiful views and space for enjoying the fresh air and sunshine. This home is ready for a new owner and refresh. The layout features a large kitchen with open concept and lots of natural lighting.
742 Kekona742 Kekona Place
$899K (FS)
Enjoy living on a quiet cul-de-sac, with a community feel neighborhood, and close proximity to Makawao’s yearly parade, rodeo, schools, restaurants, pubs and shops. Spacious home with 3 bedrooms, 2 upgraded bathrooms, vinyl plank flooring, and a jacuzzi for those cool winter nights. Large 2 car garage for all your projects, and a big porch to enjoy the fresh country air and colorful sunsets. 

Vacation Condos Over $1M

 Menehune Shores 
Menehune Shores 420
$1.399M (FS)
This 2 bedroom 2 bath unit on the 4th floor at Menehune Shores. Elegantly remodeled kitchen, bathrooms, natural stone flooring throughout, an A/C unit in each room, and a washer/dryer in the unit for convenience. This unit is very popular and heavily booked due to its beautiful ocean/beach view. Menehune Shores offers all from beautiful oceanfront pool. 
Kihei Beach
Kihei Beach 301
$1.45M (FS)
This 2 bedroom, 2 bath condo has stunning ocean views and boasts a location on one of Maui's most exquisite stretches of beach. Start your day with your morning coffee on the lanai while enjoying the endless Pacific Ocean and majestic West Maui views. In the evening, the magical sunsets never disappoint.  
Grand Champions
Grand Champions 29
$1.888M (FS)
This villa has so much to offer. With beautiful views of Haleakala, this home is conveniently located on the tranquil, back end of the complex. The covered lanai looks east over the Wailea Blue Golf Course, and offers homeowners the utmost privacy. This is the most highly sought after floor plan in the neighborhood with the flexible “lock off” feature. There are 2 roomy primary-suites, each with spacious bathrooms and separate entrances.
Wailea Ekahi
Wailea Ekahi 35B
$3.05M (FS)
Making this property a rarity in itself. Step inside to discover a living space where perfection meets sophistication. The entire interior has been updated to the highest standards with a modern yet relaxed and comfortable design. No expense was spared in transforming this townhouse into a haven of luxury. 
Makena Surf
Makena Surf F-207
$5.35M (FS)
This beautifully remodeled 2 bedroom, 2 bath luxury oceanfront unit, provides the best that Maui has to offer. The gated entry & lush landscaping exudes a special tropical feeling that includes an herb garden, pristine amenities including a work out facility, 2 large pools, Jacuzzis, pickle-ball and tennis courts. 

Vacation Condos Under $1M

hono kai
Hono Kai A-14
$525K (FS)
Beautifully remodeled, this unit features tile flooring throughout, updated kitchen with newer appliances, walk in tile shower. 1 new wall A/C unit. Maalaea is centrally located and just a short drive to Lahaina, Kihei and the airport. Walking distance to Haycraft Park, Maui Ocean Center, Maui Sports and Water Park, restaurants, shopping, surfing, snorkeling, fishing, whale watching, and boat adventures from the Maalaea Harbor.
Napili Ridge
Napili Ridge A-15
$648K (FS)
This unit has modern finishes with all the essentials for the utmost comfort. The 58 sf lanai features views of the ocean and Molokai as well as the beautiful grounds. And, did I mention, the unit can be vacation rented and makes an astounding investment. Napili is know to be the cooler side of West Maui with consistent trade winds that will keep the space at the perfect temperature.
Kihei Garden Estates
Kihei Garden Estates C-108
$655K (FS)
This lovely 1 bedroom, 1 bathroom condominium is found conveniently on the ground floor Kihei Garden Estate. The complex is an easy distance to shopping and dining options, and very close to Waiohuli Beach, and for your enjoyment there’s a pool and hot tub and a BBQ area. The condo has extra shared storage for bike and paddle board if needed.
Haleakala Shores
Haleakala Shores B-204
$879K (FS)
This 2 bedroom vacation rental condo in the heart of South Kihe. This particular unit has been cherished and owner-occupied for over two decades, showcasing several thoughtful upgrades. You'll find tile floors throughout the kitchen, living room, guest bedroom, and both bathrooms, while the master bedroom features plush carpeting. The master bathroom has been tastefully renovated.
Wailea Ekahi 2
Wailea Ekahi 3-D
$995K (FS)
A comfortable living area with vaulted ceilings and a large, covered lanai that provides a spacious indoor/outdoor ambience. Looking over a green belt with Haleakala Mountain and sunrise views from the quiet lanai. Fragrant plumeria trees and bird song offer serene privacy. 

Residential Condos Over $1M

La'i Loa
La'i Loa 101
$3.899M (FS)
This finished coastal contemporary 3 bedroom, 3 bathroom Front Row unit is ready for occupancy. Enjoy island luxe living at this south side single level condo with open flow floor plan. Sliding glass wall pockets to expand your extraordinary living space onto the oversized ocean facing lanai with picture postcard views of Kahoolawe and Molokini. 

Residential Condos Under $1M

Maui Lani Terraces
Maui Lani Terraces G-102
$470K (FS)
This beautifully remodeled and upgraded 1 bedroom unit features wood cabinetry, white solid surface countertops, luxury vinyl plank flooring, and a walk-in tiled shower. Furnishings are included. Enjoy the convenient ground floor location and a private lanai. The complex has a swimming pool and is located just across the street from the ocean.
Kihei Villages
Kihei Villages 6-102
$627.9K (FS)
This 2 bedroom, 1.5 half bath home is a little treasure. Unit is a highly desired ground floor, corner unit with a huge yard. Upgrades include vinyl plank floors, crown molding and a Trex composite deck. The best part of this home is it’s outdoor living area, boasting a large 1,152 square foot yard. Rarely does a condo have an outdoor space this substantial.
Kihei Shores D-107
$659K (FS)
This is a single level condo with no neighbors below, above or behind. Enjoy the relaxing pool and the stunning beaches in this very low maintenance, tastefully updated home. Unit has newly installed Fujistu Mini-split A/C units in each room that provide efficiency and lower energy cost. Each room has its own thermostat for individual temperature control.
Kai Makani
Kai Makani 202

$999K (FS)
This recently renovated 2 bedroom, 2 bath unit is bright and open with plenty of natural light. This residential style gem is a rare find in the sought after Kihei complex. As well as plenty of room for a dining table. The great room leads out to a spacious and private lanai which has enough room to create the same space as inside.

Vacant Land

25 S Lanikai
25 South Lanikai Place Lot 8
$825K (FS)
The lot's highlight is its access to a lush forest in an adjacent gulch, offering peaceful walks and a deep connection. The forest and ocean views combine for a dynamic, living panorama.Envision a home here that's more than just a residence, but a retreat from the ordinary. Experience Haiku living where nature's magnificence meets modern comfort.

The Smith Team
(808) 572-0866
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Coldwell Banker Island Properties
#B-35 3750 Wailea Alanui Drive
Wailea, Hawaii 96753

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