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Aloha ,
Market Update
Our travel industry is rebounding to record highs which is spurring real estate investments across the islands. See Article from BloombergBusinessweek.
Last month, Goldman Sachs announced a $1.85 billion loan for a hotel portfolio that has 5 Hawaiian properties, including the Sheraton Waikiki and Westin Moana Surfrider in Honolulu.
Lodging and travel revenues have increased by 15% through September 30th with a record $3.62 billion in profit according to Hospitality Advisers. Also, the total seats on flights to Hawaii rose by 7.3% including a 47% increase in scheduled seats from Asian countries. We have to thank the resurgence of the Japanese market from the devastating tsunami and also the growth of the Chinese and Korean numbers due to their prospering economies.
There has been a ripple effect from the improving tourism that has helped the real estate market in Hawaii.
The building permit volume has increased by 33% to $1.2 billion worth in projects which is the highest since 2007.
On Maui, new developments are continuing to sell like Ho'olea Terrace at Kehalani and the Traditions at Maui Lani in Kahului. We just closed on a brand new 2 bedroom / 1.5 bath unit at Hoolea Terrace for under $300,000 with amazing ocean views. Let us know if you are interested in any of the new developments on Maui.
The Hawaii real estate market has definitely benefited from the travel rebound.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. – Our bank owned listing at 200 Kalaunu Way located in the prestigious gated community of Honolua Ridge in Kapalua will be open this evening from 4 to 6 p.m. for a broker's open. Call Melissa Smith R(B) at 808-298-6810 if you would like to attend.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for December 10th , 2012
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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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503 (269)
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246 (18)
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929 (120)
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+6
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Condos
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769 (175)
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272 (7)
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1191 (84)
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+13 |
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Land
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398 (110)
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41 (8)
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159 (15)
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-10
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Total
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1670 (554)
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559 (33)
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2279 (219)
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+9
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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
200 Kalaunu Place
Kapalua
$2.85M (FS)
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Bank Owned. Magnificent estate property at the prestigious gated community of Honolua Ridge. Some work still needs to be done, but this is an incredible value for a prime location.
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140 Kulanani Place
Kula
$3.45M (FS)
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Eco-friendly equestrian estate makes a bold and very “green” statement; extraordinary. The sophisticated home, featured in the Luxury Homes and Maui No Ka Oi magazines for its sustainability was designed using Ipe wood, corrugated galvalum steel siding and glass. An abundance of windows and pocketing doors capture the ever changing bi-coastal panoramas, breezes and sunsets.
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430 Manawai Place
Haiku
$4.399M (FS)
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Spectacular Custom Balinese home perched on nearly 6 acres of Ocean Front Bluffs with views as far as the eye can see. 5,703 Sq Ft under roof and 3,341 sq ft of living space. Ocean and mountain views from every room in this 2 story masterpiece.
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Homes Under $1M
38 Lehuapueu Place
Waikapu
$269.9K (FS)
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Bank Owned. Looking for a project? Well, look no further. Located towards the end of the street, on the right of the cul-de-sac.
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82 Aioki Street
Haliimaile
$349K (FS)
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Nice 3 bedroom house in Haliimaile. Great starter home. Close to parks and Haliimaile General Store.
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18 Waihili Place
Kihei
$397.7K (FS)
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Short Sale. Well maintained 3 bd. 2.5 bath home. Located near shopping, schools, businesses, churches, parks, restaurants, beach, and golfing.
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385 Kaiolohia Street
Kihei
$399.9K (FS)
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This 3 bd. 2 bath home has had a complete makeover including new roof, flooring, fixtures, kitchen, baths, appliances and landscaping. Commanding central Valley mountain views from the back lanai which includes a screened in porch perfect for entertaining in the shade.
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31 Iliahi Way
Launiuopoko
$879K (FS)
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Short Sale. Two great Launiupoko opportunities at one great price! Fully condominiumized 2 acre property with existing 2 BD/2BA cottage on one acre with room for a new full residence on a second acre. Very private, very quiet with outstanding ocean/island/sunset views.
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756 Kupulau Drive
Kihei
$889K (FS)
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Short Sale. Two homes on large lot with salt water pool.
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Vacation Condos Over $1M
Polo Beach Club #109
Wailea
$1.69M (FS)
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Best priced luxury oceanfront condo in Wailea. Enjoy the world class Wailea lifestyle at its absolute best on one of the world's best beaches: POLO BEACH. This unit has direct ocean views and was upgraded. This ground floor unit is UNIQUE in the complex because of its larger size with an extra lanai so both bedroom suites have direct access to a “private” side yard and the beach.
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Vacation Condos Under $1M
Ka'anapali Shores#524
Ka'anapali
$389.9K (FS)
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Great price for this ocean view 1 bedroom 1 bath unit at Kaanapali Shores. This unit offers privacy and a beautiful view of the island of Molokai.
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Kihei Alii Kai A-408
Kihei
$425K (FS)
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Short Sale. Rare offering (only 1 of 5 in the complex) of a two-bed, two-bath penthouse end unit with the second bedroom as a lock off studio with its own lanai and kitchenette, in the desirable "A" building at the Kihei Alii Kai Complex!! Enjoy partial ocean and mountain views from both lanais.
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Mahana #802
Honokowai
$439K (FS)
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This is an "A" classification unit, right on the beach, with spectacular views of the ocean, outer islands, sunsets and humpback whales. New granite counter-tops in the kitchen and bath.
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Grand Champions #138
Wailea
$549.9K (FS)
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Short Sale. This beautifully furnished vacation rental is located in a quiet area of the Grand Champions Villas, noted as one of the most popular vacation complexes in South Maui. The Hawaiiana furnishings, plush carpeting, granite countertops with maple cabinets and air conditioning in every room will make you proud to own this unit.
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Honua Kai #220
Ka'anapali
$819K (FS)
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Honua Kai Resort and Spa is as good as it gets on the world’s best island of Maui. Located in the Hokulani tower, residence #220 is a fully furnished large two bedroom unit that has wonderful natural light, partial ocean views, and panoramic views of the West Maui mountains-these are best enjoyed from one the largest lanai areas found in the resort totaling over 1,150 sq. ft.
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Residential Condos
Maui Lani Terrace F-205
Honokowai
$149.5K (FS)
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Great little starter home, or investment property for a lucky buyer. Turn key, and ready to move in condition. The kitchen and bath are tiled as are the counters. Pergo throughout the rest of the unit. Mirrored closet doors enhance the open feeling in the entry, and in the bedroom.
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Mount Tomas PH2
Wailuku
$200K (FS)
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Short Sale. Top floor penthouse unit. Overlooking the shipping lanes, harbor, baseball parks and Kahului town. Great views of Haleakala also. Mount Thomas is a secure building needing a key to get into elevator. Central location close to everything. Large 2 bedroom, 2 bath unit. Great trade wind breezes keep this place cool year around. Fantastic views.
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Cottages at Kulamanu #7
Pukalani
$419M (FS)
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Great unit located at the very desirable Cottages at Kulamalu. This unit was once used as the model home and features many fantastic upgrades such as Central AC & Heat, Alarm & Security system, Solar Water, Upgraded cabinets and countertops, Upgraded appliances, and so much more.
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Vacant Land
93 Keoawa Street
Kapalua
$839K (FS)
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Now is the time to own a magnificent piece of Kapalua! Lot 6 considered by many to be a pedigree lot in the first phase of Honolua Ridge and offers commanding views of world famous Honolua Bay and the neighboring island of Molokai.
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