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
About Maui Our Listings Property Search Rentals Blog Contact Us
 
Issue 1007 June 21st, 2022
 

Aloha


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 (6)
Condos (2)
Land
New Properties 
Price Reductions  

Short Sales
Homes  

Condos 
Land
New Properties

Price Reductions 

 
Magnificent Estate 

 Feature 

11 Hale Malia Place 
Kahana
$12.95M (FS)
 

Leveraging Your Home Equity

 

You’ve likely heard the term, “property rich, but cash poor.” Well, for homeowners of single-family residences and condos, the term ought to be “property rich, and equity rich,” as record breaking sale prices over the past six months has translated into outstanding growth and financial security for many in terms of greater home equity. For these homeowners, newly gained equity can be leveraged at rates well below those available to first-time-buyers in the primary home market.

 

Homeowners are equity rich, “when the combined loan balances from a first mortgage and home equity line of credit (HELOC) are no more than 50% of the homes’ estimated market values.” 

 

According to data from an ATTOM report, nationally  44.9% of mortgaged properties appreciated equity-rich status in the first quarter of 2022, compared with 31.9% during the same time period in 2021. The Hawaii Business Journal reported that, “Statewide, 56.3% of homes were considered equity rich in the first quarter of this year, an increase of 14.5 percentage points from a year ago.” 

 

Homeowners in Hawaii saw the largest equity gain in the nation, where home prices increased by 20% or or more. This positions homeowners nicely to leverage the equity on their first loan to access additional funds via a second mortgage, or HELOC. According to Bank of Hawaii, different options exist which include fixed-and-variable rate lines of credit as low as 4.25% and 5.10% on 15 and 30 year second mortgages. 

 

Regardless if you recently refinanced your first mortgage while rates were lower, or not, now may be a great time to leverage your equity and have it work for you. Reach out to your local banker if you have further questions and contact our team for any other real estate needs you may have. 

 

Mahalo Nui Loa,

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

The Smith Team

 

P.S. Happy Summer Solstice! We hope you made the most of the longest day of the year! Folks down at The Cove in South Kihei were certainly enjoying the surf action. At 7:30pm the West Maui Mountains were still alight with the cool pale colors of sunset.

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Market Watch
 
Active
Pending
Sold
Change
Homes
216 (191)
182 (96)
1272 (705)
+15
Condos
188 (88)
261 (131)
2069 (609)
+7
Land
107 (54)
 40 (9)
305 (97)
+6
Total
511 (333)
483 (236)
3646(1411)
+28
 
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

 85 Hakalani Pl in Kehalani 
85 Hakalani Place
Wailuku
$1.299M (FS)
This beautiful 4 bedroom, 3 bath home is located in the desirable Maunaleo at Kehalani subdivision in Wailuku. Pull up to the two car porte-cochere and enter through the double french doors into the main living area. The spacious gourmet kitchen with stainless steel appliances, granite-like countertops, large island, and pantry welcome the home chef. 
 
246 Koheo
246 Koheo Road
Kula
$1.402M (FS)
Enjoy a rare private, older establishment neighborhood with stunning bi-coastal views. Main House is a 1,504 square foot and consists of two master suites. A hillsides healthy organic farm with 41 fruit trees. The cottage is an 840 square foot living area. rural zoned.
 
350 Kainoe
350 Kainoe Street
Kaanapali

$1.995M (FS)
This 3 bedroom plus den home features ample living space and an open floor plan with a total of 2,492 sqft. Updates include granite countertops and kitchen island, new sliding glass doors, and updated bathrooms. Enjoy outdoor living with ocean and island views, a large backyard with no homes directly behind it.
 
115 KAIMANU
115 Kaimanu Place
Kihei

$3.488M (FS)
Villa Kaimanu “Seabird” in Hawaiian is an ocean view estate tucked away on two luscious organic acres in the prestigious Kaimanu Estates, an exclusive gated South Maui community of only nine luxury homes. A sanctuary distanced from a world away.
 

Homes Under $1M

1131 Puana
1131 Puana Street
Makawao
$750K (FS)
Don't miss this 3bd, 2ba home in historic Makawao. Quiet neighborhood. Property is now divided into 3 units. Upstairs unit has one bed and one bath. Studio has open concept and full bath. Large part of home features 2ba/1bath and full kitchen. All have been rented to long term tenants. Front part of home features lanai with nice view. 
 
 205 Kono 2 
205 Kono Place
Kahului

$750K (FS)
Bank Owned. This home is perfect for the handy person who would like to build sweat equity by upgrading a home. Located at the end of a cul-de-sac in the heart of Kahului, this large home is on a large lot, leaving potential to expand or build an ohana or two.
 
181 Alohilani
181 Alohilani Street
Pukalani

$825K (FS)
Enjoy spectacular views and evening sunsets. 3 Bedroom 2 bath with a 2 car carport. Walking distance to shopping, parks, swimming pool, post office, and schools. Well maintained. Has tile floors.
 
41 W Makaukau
41 West Makaukau Loop
Wailuku

$999.5K (FS)
One of the largest in the neighborhood. The dual covered lanais and generous yard offer ample outdoor entertainment space. Vaulted ceiling in the great room with lots of windows to allow those tropical breezes to fill the room. From upstairs there is easy access to the covered lanai with ocean views for that "pau hana" time.
 

Vacation Condos Over $1M

Kapalua Golf
Kapalua Golf Villas 22T2
Kapalua

$1.175M (FS)
Enjoy a home cooked meal in the full sized kitchen, while taking in the wide open ocean and sunset views from your private lanai. Offered as is, this spacious 1 bedroom, 1 1/2 bath, corner villa, provides a blank canvas to create your own self-inspired home awayfrom home. Whether you share it with others or keep it all to yourself, the opportunity to build out your dream retreat is here.
 
maa
Maalaea Kai 410
Maalaea

$1.198M (FS)
Sweeping ocean vistas await you from this prime oceanfront condo on the top floor of Maalaea Kai. Sunrise over Haleakala and Maalaea Bay. This custom bright and airy 2 bed, 2 bath condo offers 978 sq ft of living area including the protected lanai. Recently refreshed with new air conditioning throughout.

Customer Listing Synopsis

Video/Virtual Tour

Hale Kamaole
Hale Kamaole 221
Kihei
$1.249M (FS)

Ocean view, 2 bedroom with loft in the best location at Hale Kamaole, you just found it. This nicely updated unit has one of the best views in Hale Kamaole. Couple that with its front of the complex location and superb rental history and future bookings and you have arguably the best unit in the complex.

Customer Listing Synopsis
 

Koa Resort
Koa Resort 5F
Kihei
$1.8M (FS)
This unit has two bedrooms downstairs, including the Primary bedroom with en-suite bathroom shower. There is a Hall bathroom downstairs  and a laundry closet with a new LG laundry center (2022). The kitchen has been updated with white cabinets, Quartz counter tops, stainless steel appliances, and has an open layout for entertaining. 
 
Wailea Ekolu
Wailea Ekolu 909
Wailea

$2.1M (FS)
The 2 bedroom, 2 bath unit has been thoughtfully maintained with new cabinetry, fresh paint, high-end flooring, updated tilework and modern fixtures in both walk-in showers. The spacious master bedroom offers sweeping ocean views, a private balcony with lanai, en-suite bathroom, in-unit washer and dryer, and storage closets.

Vacation Condos Under $1M

JJ
Royal Kahana 1215
Kahana

$845.9K (FS)
Exceptional ocean views & the best Humpback watching. This apartment shows the utmost pride of ownership as it has been owner occupied since 1995. Bath has remodeled along with the new carpet installed recently. This well cared for apartment is being sold turn key. Under ground parking is available. 
aa 3
Haleakala Shores A-209
Kihei

$900K (FS)
Well maintained unit. The property is being sold As Is, where is condition. Being sold unfurnished. There will be no Sellers Real Property Disclosure Statement. The Buyer is instructed to conduct their own due diligence in all aspects of their purchase.

Customer Listing Synopsis
 

MAUIMaui Parkshore 202
Kihei
$920K (FS)

This unit is a spectacular ocean view and easy access to the beach for ocean lovers, Maui Parkshore is the condo of your dreams. This well-maintained 2 bed, 2 bath spacious unit was recently updated with  new paint and new flooring throughout the entire unit. 

Customer Listing Synopsis

Video/Virtual Tour

 KA 
Kamaole Sands 5-215
Kihei
$990K (FS)
It's time for you to own your Piece of Paradise on Maui. This beautiful, furnished, remodeled 1 bedroom, 2 bathroom condo. Located in the beautifully landscaped grounds of Kamaole Sands Kihei can be yours to enjoy. Sip on your coffee or a cocktail with views from the pool to the ocean from your lanai. 
 
Customer Listing Synopsis

Residential Condos Over $1M

Kanani Wailea
Kanani Wailea 13
Wailea
$2.15M (FS)
First offering, original owners, impeccable turn-key residence in Kanani Wailea. Revel in the expansive ocean views from the dining and great rooms. Each of the three bedrooms has a private lanai, and a handsome stone wall ensures privacy and peace at ground level family room, lanai and garden.
pr
Keala O Wailea 2-104
Wailea
$2.639M (FS)
Step onto your lanai and relax, watch sunsets and whales, stare off in the distance at the island of Lanai or walk down to the nearby pool. This is what vacation living is meant to be. In the tranquil gated community of Keala o Wailea, with 7 buildings and a total of 70 units, you are in the heart of Wailea near the action.
 

Residential Condos Under $1M

  Southpointe at Waiakoa
Southpointe at Waiakoa 20-105
Kihei

$600K (FS)
Upgraded unit with corian countertops. Beautifully landscaped. Quiet location with 2 parking stalls. This 2 bedrooms, 1.5 bath unit is the best deal for you.

Customer Listing Synopsis

Kai Ani Village
Kai Ani Villages 5-203
Kihei

$799K (FS)
Highly desirable Kai Ani Village corner unit condo with 2 bedrooms, 2 bathrooms and a spacious front lanai. This unit has an open floor plan with lots of natural light. 886 sqft of Loveliness includes a full size washer and dryer, split A/C systems in both bedrooms and living room throughout.
Napili Villas
Napili Villas 15-3
Napili
$849K (FS)
This remodeled 2 bedroom 2 bath Napili Villa is a must see. The ground floor location features a fenced in private lanai. Newer white kitchen and bath cabinets with quartz counters and white subway tile. Upgraded ceiling fans, split unit air conditioning and bidets in both bathrooms. This family oriented and pet friendly complex is highly sought after.
Hale Kanani
Hale Kanani 4-205
Kihei
$850K (FS)
This beautiful and meticulously maintained 3 bedroom, 2 bath, furnished, pet friendly condo has a peaceful garden view and is only steps to The Cove, a fun surf spot for beginners on Maui's South Shore. Also, across the street from Charley Young Beach, boasting white sand, blue water and epic sunsets.

Vacant Land

103 Pulelehua St Lot
103 Pulelehua Street Lot 17
Kapalua
$1.895M (FS)
Pineapple Hill Estates is one of the last remaining premium building lots in Kapalua with epic ocean views over The Bay Course to the outer islands of Lanai and Molokai. With the perfect west facing orietnation you will have a front row seat to enjoy the magnificent Kapalua sunsets.
 
The Smith Team
www.MauiSales.com
(808) 572-0866
 
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Coldwell Banker Island Properties
#B-35 3750 Wailea Alanui Drive
Wailea, Hawaii 96753
US

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