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Market Update
While brainstorming a topic for this week's market update, we came across the following article by Carole Van Sickle who writes for the Bryan Ellis Real Estate Newsletter.
In her article entitled Hawaii Bankers Planning for More Commerical Real Estate Lending, Van Sickle writes, "As one Canadian reporter put it, 'Why buy a cottage on a lake in Canada when you can be on a beach with gardenia-scented breezes."
Van Sickle's article hit a chord with us for several reasons:
1. We've said it before, but its definitely worth reiterating: The Canadian buyer has made a meaningful impact on Maui's real estate market—past, present, and we anticipate in the future.
2. Maui (just like anywhere else in the world) is susceptible to natural distaster. We were reminded of this fact earlier this year on March 11, 2011. Yet history reminds us that one of Maui's most desirable qualities is the near absence of natural disasters.
3. Maui is still one of the most unique and beautiful destinations in the world. Think about it: "Being on a beach with gardenia-scented breezes." That image speaks 1,000 words, doesn't it?
As always, thank you for reading The Maui Real Estate Newsletter. We appreciate our readership!
Have a wonderful week,
The Smith Team
P.S. Be sure to take a look at the market watch below. -44 units this week. Do you see a trend here? Take a look at the previous market watches this year and you'll see that inventory is consistently being absorbed into the market faster than it is coming on.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for June 6th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
769 (274) |
245 (30) |
824 (99) |
-11 |
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Condos |
1045 (203) |
235 (11) |
1114 (109) |
-19 |
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Land |
513 (119) |
32 (6) |
117 (13) |
-14 |
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Total |
2327 (596) |
512 (47) |
2055 (221) |
-44 |
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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
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501 Kupulau Drive
Kihei
$1.375M (FS)
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This is an immaculate 3 bedroom 3 bath custom built home with cherry wood floors and slate tiling throughout. Enjoy the ocean views from your covered lanai that overlooks your inground pool with flagstone deck, hot tub and a tiki bar with running water and electricity. The 2 bed 2 bath detached cottage has its own covered 2 car carport with ocean views.
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404 Wekiu Place
Ka'anapali
$1.98M (FS)
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Fabulous home located at The Summit in Ka'anapali. Great heated pool and spa with covered areas for total comfort. Perfect home for a lifestyle of casual Hawaiian elegance.
Customer Listing Synopsis
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Homes Under $1M
291 Pakalana Place
Kihei
$299.9K (FS) |
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Bank Owned. Great starter home in North Kihei! Clean, spacious and ready to move in. Tile and wood laminate flooring throughout, nice size lot with rock wall and lawn.
Customer Listing Synopsis
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1128 Mahanani Place
Makawao
$299.9K (FS)
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Bank Owned. House and detached cottage in Makawao. The cottage sits next to the home.
Customer Listing Synopsis
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1382 Ainakea Road
Lahaina
$410K (FS)
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Bank Owned. Spacious residential home in great location near the Cannery mall. Enjoy the panoramic ocean views from the 2nd floor. Large living area, great for large family.
Customer Listing Synopsis
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170 Kamakoi Loop
Kihei
$499.9K (FS) |
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Bank Owned. 4 bd. 3 full baths ocean view home with 2,016 sq. ft. of living area. Built 1991 and somewhere along the way the first floor became a separate unit with 672 sq. ft. interior with one bedroom, one bath, kitchen, and small living area with glass sliders that open to 320 square foot covered lanai.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Kapalua Bay Villas 20B3
Kapalua
$1.375M (FS)
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Prime oceanfront location with outstanding ocean and bay views. The high end, designer renovation was completed in May 2009 and everything was redone, including all electrical and plumbing.
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Vacation Condos Under $1M
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Kuau Plaza #201
Kuau
$239K (FS)
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Discover the North Shores's best kept secret, Ku’au Plaza. Conveniently situated next door to Mama’s Fish House and the beach or a quick bike ride to Hookipa and Pa’ia town, this condo offers entry level pricing to the North Shore lifestyle.
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Luana Kai C-102
Kihei
$250K (FS)
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Short Sale. Luana Kai is a jewel in Kihei. Oceanfront complex graces a large grassy lawn w/ shady trees overlooking the ocean and West Maui Mountains.
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Residential Condos
Kihei Villages 42-101
Kihei
$125K (FS) |
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Short Sale. 2 bedroom 2 bath with large private yard.
Customer Listing Synopsis
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Kai Malu 40B
Wailea
$975K (FS)
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Short Sale. The lowest priced unit with pool & spa. Located on the greenbelt, this unit is very private and has distant ocean and outer-island views. Premium finishes and upgrades throughout - including an extended tiled lanai, private tiled pool and spa, granite counters and stainless steel appliances.
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Na Hale O Makena B-101
Makena
$1.399M (FS) |
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You will love the feel of this spacious home offering over 2000 sq ft., this condominium feels more like a residence both inside and out. With only 40 units on 6 tropical acres of lush grounds and no vacation rentals allowed one can enjoy the quiet serenity of Makena yet less then 5 minutes to world class dining and 3 championship golf courses. This luxurious condominium offer the finest in materials from travertine flooring to Snaidero European cabinetry, custom ohia wood entry doors to name a few.
Customer Listing Synopsis
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Vacant Land
0 Kahekili Highway
Wailuku
$190K (FS) |
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If you are looking for a secluded buildable parcel of land with a direct ocean view, then preview this 1.79 acre property located just 10-15 min's to Wailuku next to the Waihee Stream. A Maui County water meter is installed and the land has been surveyed. The upper portion is best for your new home and the lower portion meadow was used for farming in the past.
Customer Listing Synopsis
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