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Aloha ,
Market Update
Our travel industry has seen improved growth with an increase in tourism last year. According to The Maui News, the hotel occupancy rate on Maui increased by 2.4 percentage points to 72.6% in 2012.
Also, the revenue per available room rose by 8% to $187.27 in 2012 which is the highest in the state. In 2012, visitor arrivals to Maui rose by 5.9%.
The Wailea area had an increase of 7.3% to 77.4% and Lahaina-Kaanapali-Kapalua area had occupancy at 73.6 percent.
Statewide hotel room revenue reached $3.26 billion for 2012 up 4.5% over the previous record set in 2006. We are looking at further growth in tourism this year.
It goes without saying that there is a direct correlation with the health of our economy in Hawaii and tourism, our main industry. As the economy continues to benefit from the increase in tourist dollars, we are seeing improvement in our real estate market.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. - Don't forget that this Thursday is Valentine's Day. Here's an article from The Maui News for some Valentine's Day specials from some of our famous restaurants:
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for February 11th , 2013
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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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495 (287)
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236 (34)
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941 (120)
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NC
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Condos
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826 (197)
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281 (16)
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1211 (94)
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+4 |
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Land
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392 (112)
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46 (8)
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176 (17)
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-3
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Total
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1713 (596)
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563 (58)
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2328 (231)
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+1
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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
14 Puu Hale Street
Ka'anapali
$1.849M (FS)
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Discriminating quality and attention to detail best describe this 4,800 square foot remodel of this Kaanapali Hillside gem. This sprawling 2-story floor plan features 3 bedroom and 3.5 baths. The marriage of exotic woods with stunning granites and travertines brings simple island elegance to this spacious retreat.
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708 Fairway Drive
Kapalua
$2.295M (FS)
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Golf Course fronting residence with 3 bedrooms and 3.5 bathrooms located directly on the eleventh fairway of Kapalua's Bay Course, with beautiful views onto the course, as well as of the ocean. This spacious residence is centrally air conditioned, with a working fireplace, and a lovely swimming pool. The living area, completely remodeled kitchen, dining room, den/study and master suite are all located on the lower level.
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29 Kahua Kai Way
Ka'anapali
$3.15M (FS)
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Stunning ocean view estate on half an acre in the prestigious Golf Estates gated community. Two levels of impeccable attention to detail in this custom built home. Mature tropical landscaping surrounding the pool and spa and extensive covered lanai areas for you to enjoy the year round outdoor living experience that Maui has to offer.
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Homes Under $1M
148 Hoomoku Street
Kahului
$229.5K (FS)
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Short Sale. The home offers flexible living options, private lanai and requires no yard maintenance. Investors looking for steady cash flow will appreciate the fact that the property is HUD approved and is currently rented.
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1113 Onaha Street
Wailuku
$379K (FS)
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Ideal for extended family. Nice ocean and mountain views.
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3343 Kii Place
Pukalani
$530K (FS)
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4 Bd. /3 Bath split-level home located at the end of the Kii Drive cul-de-sac. Sellers have added cherry laminate hardwood flooring in living as well as hardwood laminate in dining and hallway. Kitchen was remodeled in 2011 with all new wood cabinets, new electric range with ceramic cook top +conventional/convection oven, new refrigerator with ice maker/water dispenser, tile countertops and backsplash. Haleakala views from kitchen.
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52 Kawehi Place
Kula
$544.5K (FS)
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Bank Owned. Keokea country living in older 1973 main house and newer 2005 ohana cottage with its own driveway. Main house has oak flooring. There is an ocean view from the cottage, and partial view from the house that could easily be opened up with some selective trimming of trees. The property has mature landscaping including avocados and more.
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633 S Alu Street
Wailuku
$638.8K (FS)
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Bank Owned. Wailuku Heights has a great ocean, North shore & Haleakala view. The home features high ceilings, big windows and a split level floor plan. Guest bedroom, full bath, kitchen, dining and laundry room at entry level. Living room & family room are on lower level. Master bedroom & bath plus two bedrooms on top floor with third bath. Kitchen has stainless steel refrigerator and dishwasher, the island has a cook top and lots of counter space.
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370 Pualoa Nani Place
Wailea
$995K (FS)
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Beautiful single level 4 bedroom 3 bath home in the gated community of Wailea Pualani Estates. High ceilings, central air conditioning, large lanai, tropical garden.
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Vacation Condos Over $1M
Ho'olei F-1
Wailea
$3.05M (FS)
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Extremely private and special location at Ho'olei. Villa F-1 is one of the premier units in the entire neighborhood. Gorgeous ocean, mountain, and golf course views. Beautifully furnished by latitudes and being sold completely "turn-key", with all furniture, electronics, and house ware items included in the purchase price. This villa has one of the most highly sought after locations in the entire neighborhood.
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Vacation Condos Under $1M
Maui Vista #2213
Kihei
$269.9K (FS)
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Tastefully remodeled cool clean one bedroom, one bath turnkey vacation rental. Lovely west Maui Mountain view. Steps from Charley Young beach, a white sand beach, shopping, dining, public bus stop and entertainment. 5 minute drive to world class golf.
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Island Surf #200
Kihei
$294.5K (FS)
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Mostly original corner unit with extra windows at Island Surf. Tiled floors throughout. Lease as commercial office, short- or long-term rental. Only the first and second floor of Island Surf allows for commercial usage. One bedroom/one bath lock off feature offers maximum live/work flexibility; use part as office, part for living or reside in one bedroom and vacation rent the other. Pet friendly complex.
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Aina Nalu H-105
Lahaina
$295K (FS)
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This 2 bedroom, 1 bathroom condo sports designer decor including stone floors, granite counters, cherry cabinets and oversized bathroom. Aina Nalu is one of the greenest properties on Maui. The green features include solar power for hot water and common areas electric, recycling and a heart of Lahaina location, where you can walk to restaurants, shopping, the harbor, the beach, and catch the Maui Bus for anywhere else on the island.
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Grand Champions #27
Wailea
$590K (FS)
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Two for the price of one. Your piece of paradise at the Grand Champions offers the sought after "lock out" feature which provides a separate entry door into the second master bedroom, and potention for 2 rentals. This second master bedroom has a kitchenette. The second entry door allows two couples to share the unit but still have extra privacy.
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Residential Condos
Puuone Terrace #417
Wailuku
$85K (FS)
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Short Sale. North Shore ocean views, well maintained building. Original Condition Unit. Nice price for a 1B/1B Condo with views on Maui.
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Leinani Apts #203
Honokowai
$134.9K (FS)
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This is a property located between two famous Maui resorts; Kaanapali and Kapalua and their respective golf courses. Just 6 miles from Lahaina, and close to the 3 day a week local farmers market, which is across the street from the local beach park.
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Vacant Land
445 Kaukini Loop
Wailuku
$245K (FS)
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The Cliffs of Kahakuloa is a small quaint 15 lot subdivision that offers private water and underground utilities. Express your own sense of style on this agricultural zoned 2.84 acre lot that offers endless ocean views and a sense of peace, serenity and open space. Build your dream home, cottage and barn to complete your private retreat.
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3190 South Kihei Road
Kihei
$9.9M (FS)
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True beachfront step onto the white sands of Maui's most sought after beach, Keawakapu Beach. This exceptional ready-for-construction beachfront vacant parcel of .7 acres and approximately 133 linear feet of ocean frontage features 180 degree views of the Pacific blue vista, and the islands of Kaho’olawe, Molokini and Lana’i.
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