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Aloha ,
In this newsletter:
Short Sales
Homes
Condos
Land
New Properties (0)
Price Reductions(0)
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Price Drop at Keawakapu Beachfront
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Market Update
As you'll notice in the Market Watch section below, the inventory from last week to this week has decreased in all sectors. For example, the number of condo units for sale has decreased from 842 to 817.
An article from the Real Estate Economy Watch explains 6 ways why the inventory is low in the nation.
One factor for the decrease in inventory is that many homeowners are still underwater. One of five homeowners with a mortgage still doesn't have enough equity to sell.
This correlates with boom buyers that are still holding out. About 16 million families bought homes at the peak of the boom around 10 years ago and many are still waiting to make a profit. The Real Estate Economy Watch says that many of these buyers will have to wait another 5 years or more before they make a profit.
In addtion, the inventory shortage is making owners that want to move-up into larger or more expensive homes hold off due to the lack of inventory.
Some investors aren't ready to sell single family homes they are renting because they are making money from both the rising rents and home price appreciation. Here on Maui, we have a housing crisis and rents are at an all time high.
Have a wonderful week,
Melissa for The Smith Team
Ken, Melissa and Lindsey
P.S. - The Maui Landlord Summit will be held June 20, 2016 from 10 a.m. to 1 p.m. at the Maui Beach Hotel in Kahului. The purpose of this summit being held by Maui County, the Governor's office and the Realtors Association of Maui is to reach out to landlords to explore solutions to Maui's housing crisis.
Melissa Smith R (B), Ken Smith R (S)
Market Watch
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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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512 (302)
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276 (47)
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1120 (178)
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-17 |
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Condos
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817 (193)
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242 (30)
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1218 (156)
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-25
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Land
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375 (146)
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32 (9)
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156 (22)
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-4 |
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Total
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1704 (641)
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550 (86)
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2494 (356)
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-46 |
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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
435 Hoolawa Road
Haiku
$1.17M (FS) |
Charming country property currently used as a licensed bed and breakfast, Windward Garden. So many good things happening on 1.1 beautiful acres on the ocean side of Hana Hwy. Main house is 2-story, 3 beds, 2.5 baths with great use of repurposed wood from a historic Maui estate. Hardwood floors throughout.
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94 Hakui Loop
Kaanapali
$1.29M (FS) |
Situated at the top of Kaanapali Hillside on one of the largest lots in the neighborhood and a short golf carts drive to beach access, shopping and dining. 94 Hakui Loop is bright with an open floor plan. This 3 bed, 3.5 bath home features oversized windows, high ceilings, and ocean and garden views.
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151 Ahekolo Place
Kihei
$1.299M (FS) |
This well cared for 4 bed, 4 bath, 2,853 sq. ft. home is set up perfectly for entertaining your family & guests. Situated up the slope on the cul de sac end of this quiet street gives you excellent vantage points for enjoying beautiful ocean & mountain views from multiple large lanais.
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1690 Piiholo Road
Makawao
$1.75M (FS) |
Private, serene, horti-culturist heaven, garden of Eden, 8 acres in Upcountry Olinda. This spacious home, master bedroom upstairs with big views and a family room on first level.
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342 East Kualono Place
Wailea
$2.749M (FS) |
You will be, 'King of The Hill' in Wailea Pualani enjoying commanding ocean, outer island and sunset views stretching from Maalaea to Makena. Rare to find a pro-actively maintained, walk-in Ready, 3,687 sq. ft. elegant, 5 bed, 4.5 bath finely crafted home in Wailea.
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Homes Under $1M
1081 Puana Street
Makawao
$554K (FS) |
Convenient country living. Updated home located on a quiet corner lot and just a short stroll to shopping, dining and school. Flowing floorplan features Master bedroom with private entrance which offers the option to be closed off, has Jacuzzi bath and vaulted ceilings with a Moloka’i view.
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44 Iao Loop
Wailuku
$578K (FS) |
This property offers a fully enclosed fenced back yard, established landscaping, open outdoor entertainment space and large rock wall features throughout. This 3 bed, 2 bath home offers 3 split AC units, tiled floors and freshly painted interior walls. The Wailuku Parkside community is not only minutes from shopping, dining and public facilities but it offers it's owners a community park for enjoyment.
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1382 Kakae Place
Wailuku
$641.3K (FS) |
Bank Owned - This 3 bed, 2 bath home in Oceanview Estates offers panoramic views.
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 147 Makalauna Street
Kihei
$649K (FS) |
Beautiful 3 bed, 2 bath single story home in the Kaonolu Estates. Upgrades include a remodeled kitchen with black granite counter tops and stainless steel appliances. The master bathroom has a double jacuzzi tub and walk in closet with custom made dressers.
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Vacation Condos Over $1M
Hoolei #T3(24-3)
Wailea
$1.99M (FS) |
Price Reduced -Ho'olei Villa 24-3 has the most convenient location on the entire property. Very close proximity to the pool, and directly across the street from the Grand Wailea Resort and Four Seasons Wailea. Relax in this 3 bed, 3.5 bath unit with the comfort and ability to "lock and go" while at the same time enjoy the comforts of a condominium designed to feel like a stand alone residence.
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Kapalua Ironwoods #104
Kapalua
$3.75M (FS) |
Relax to calming ocean breezes, sleep to soothing sounds of the waves in this beautiful corner location overlooking one of Kapalua's most scenic points, the signature fifth hole of Arnold Palmer's Bay Course, Oneloa Bay, and across the channel to Molokai and beyond. This direct oceanfront villa features architecturally unique "sail" ceilings in the entry hall and living.
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Papakea Resort #L-302
Lahaina
$1.045M (FS) |
Rare direct oceanfront location. The two bedroom units in Buildings A, F & L, at the Papakea Resort, are seldom listed for sale. The master suite, living room, kitchen and dining area share the direct ocean frontage and you have a beautiful ocean view from your bedroom. This unit has been remodeled and the kitchen has been opened up with granite counters. The master suite has a full dressing area, with a separate powder room that includes a full bath.
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Vacation Condos Under $1M
Hale Kamaole #254
Kihei
$598K (FS) |
This beautiful, fully remodeled 2 bedroom, 2 bath condo is located on the upper level with vaulted ceilings and a bonus loft. Meticulously maintained with luxurious upgrades including tiled floors, granite counter tops, quality cabinets, and more. The condo is tastefully decorated and comes fully furnished. Fantastic location on the south side of the resort and away from the road. Hale Kamaole has two swimming pools, two bar-b-que areas, and a tennis court. Highly desirable location near restaurants, shopping, groceries and directly across the street from Kamaole Beach III.
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Napili Shores #D230
Napili
$379K (FS) |
This studio unit is on the second floor with high ceilings for a feeling of spaciousness. It is located just a short stroll to the ocean’s edge and the famous Gazebo Restaurant. Onsite amenities include 2 swimming pools, 2 restaurants, barbecue areas, a strong vacation rental program and new restaurant, the Iron Imu.
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Makani Sands #103
Napili
$495K (FS) |
Single level ground floor unit just steps to the sandy beachfront. Perfect spot for year-round sunsets, whale watching, and listen to the sounds of the waves day and night. No stairs from the parking to the unit. Quiet low density property with only 30 units in all. Nicely remodeled with tile floors, granite counter tops, walk-in shower, hardwood cabinetry.
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Papakea Resort #A-108
Napili
$574.9K (FS) |
Experience this direct oceanfront, ground floor property with direct access to the crystal clear Pacific Ocean just yards away. Several enhancing features include a private bedroom on the rear of the unit, a mirrored wall along the dining living room, which brings in the the light, and allows the spectacular ocean view to follow you throughout the living area.
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Kihei Resort #221
Kihei
$399K (FS) |
Located in a desirable location is this 2 bed, 2 bath condo that has lots of storage and extra large master bedroom. This unit has real oak wood floors light tile and a newly remodeled kitchen with stainless steel appliances. Beautiful Asian gardens surrounds the complex and has a beautiful pool and Jacuzzi.
Customer Listing Synopsis
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Residential Condos
Maalaea Mermaid #313
Maalaea
$293.5K (FS) |
Waterfront penthouse where small pets are allowed. Approximately 894 sq. ft., this 1 bed, 1.5 bath oceanfront unit has 2 lanais. This is the largest floorplan in the complex. Townhouse style with living room, kitchen and half bath on the thrid floor and master suite on the fourth floor.
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Haleakala Gardens #13A
Kihei
$364.9K (FS) |
Quality upgrades include remodeled kitchen, newer appliances, remodeled bathrooms, customized walk in shower with high end shower plumbing features, ceramic tile flooring, brand new laminate floors, crown molding, custom cabinets in bedroom #1, newly painted throughout.
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Villas at Kenolio #4D
Kihei
$409K (FS) |
This nicely maintained 3 bed, 2 bath condo is well away from the road, with a lanai that overlooks a peaceful greenbelt area. An interior unit, it stays nice and cool even on hot days. The floor plan feels spacious with a great-room style living/kitchen/dining area. Pet friendly and walking distance to the beach.
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Hokulani Golf Villas #4
Kihei
$995K (FS) |
Former model home on premium lot with beautiful tee to green views across Maui Nui Golf Course and backdrop of majestic Haleakala. Expansive windows bring the outdoors inside so you can enjoy the verdant greens & colorful hues of the mountain from all main living areas., great room, dining, kitchen and master suite in this 2 bed, 2 bath unit.
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Vacant Land
0 South Kihei Road
$2.8M (FS) |
The only beachfront building lot listed for sale in South Maui. Bring your building plans, or let us help you select a builder and architect for this large flat lot with gorgeous ocean views. Apartment zoning provides great flexibility to build a home or condos/apartments up to 4 stories high. Lot is approximately 70 feet wide on ocean side.
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