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
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Issue 1044 March 7th, 2023


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 (1)
New Properties 
Price Reductions  

Short Sales

New Properties

Price Reductions 

Classic Keahou at Makena Estate
   ff 3   

4557 Makena Road

$21M (FS)

Update on the Real Estate Market

I just reviewed all the current stats, and there hasn’t been a lot of change lately. The market continues to be predominantly influenced by a lack of inventory.

The new listings coming to market especially condos are selling fairly quickly with the average days on market between 2 and 2.5 months. The selling price of most properties is at 100% of list price. We are, however, seeing many properties having price reductions due to unrealistic expectations. Once the price is adjusted to the market, they will usually sell.

As many you probably heard, the Federal Reserve signaled that they are going to continue tightening by raising interest rates. In fact, it appears the new target rate is 5.5% which means more increases will be forthcoming.

For those buyers who need to get a loan, it will become more expensive to borrow money. This should have somewhat of a dampening effect on prices, but the market has so far proven stubbornly resistant to going down. The median price for homes is still hovering at slightly under $1.1M and the condo median price is now $800K.

We do have buyers looking at a variety of different types of properties and in all price ranges, so if you are thinking of selling, please let us know. We might have the perfect match for you! If so, you will pass on our savings in marketing costs to you.


Mahalo Nui Loa,

Ken Smith R(S), Melissa Smith R(B), Gregory Smith R(B) and 
Rachel Smith Kofron R(S)

The Smith Team

P.S. Hawaiian Electric refines Battery Bonus incentive program. Click here for more infomation.
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Market Watch
266 (216)
113 (79)
951 (567)
206 (108)
235 (124)
1312 (447)
140 (72)
 32 (12)
227 (65)
612 (396)
380 (215)
2490 (1079)
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.

January 2023
February 2023

Homes Over $1M

 23 Waikalani 
23 Waikalani Hema Place
$1.65M (FS)
Enjoy luxurious island living on this exquisite property that includes a 4 bedroom, 3 bath, mountain view home and a 1 bedroom, 1 bath ohana, located minutes from one of Kihei’s best beaches. The main house has a spacious great room with vaulted ceilings that create an open airy atmosphere and two lanais that provide ideal indoor/outdoor living and dining space.
105 E Kuiaha
105 East Kuiaha Road

$1.749M (FS)
Just a minute from Hana Hway in Peahi. Main house is 5 bedroom, 5 bath on 2 stories with lots of decks, garage and carport, plus laundry room, workshop & storage rooms. A-frame with vaulted ceiling and loft upstairs. Downstairs with 2 bed 2 bath and carport/storage. Leased PV system helps to keep the electric bill low. Detached cottage is 1bed/1bath on upper floor, and lots of potential on the ground floor to make your own improvements.
644 Anapuni
644 Anapuni Loop

$3.1M (FS)
The home is oriented to take in the world-famous ocean and outer-island views of West Maui. One enters the home on the lower level, which is protected by greenery on all sides. The ground level offers a large office space, a well-lit bedroom, a den, and a full bathroom. In addition, there are shaded covered lanai spaces on either side of the home.

Homes Under $1M

 63 Kalola63 Kalola Place
$759K (FS)
This little beach town charmer sits on a spacious lot with plenty of room to grow. The current R-2 zoning allows for expansion/additional structures, please refer to the Maui county website for more information. Enjoy sunny Kihei, this cul-de-sac is just a few blocks from the beach. Freshly painted inside and out.
52 E Waiko Rd
52 East Waiko Road
$825K (FS)
Enjoy this 3 bedroom, 1 bath home with two car garage and a spacious backyard perfect for gatherings of family and friends. Additional room and bath with Separate entrance. Close proximity to main grocery stores, medical facilities and school.  Come and see the possibilities this house has to offer to make it your home.
72 Lumahai
72 Lumahai Place
$998K (FS)
Rare upcountry offering at this serene private cottage. Surrounded by an enchanting forest. Captivating North shore ocean views from the 576 SF covered, wraparound lanai. This spacious 729 SF, one bedroom, one bath, has vaulted cedar wood ceilings, granite countertops, and travertine tile throughout. Fresh paint in and out.

Vacation Condos Over $1M

 Grand Champions 
Grand Champions 52

$1.775M (FS)
A Wailea vacation condo at it’s finest. Unit 52 at the Grand Champions Villas crowns an upper floor corner location, offering two extra windows in both of the bedrooms, as well as extra windows in both bathrooms. The top to bottom renovation features an abundance of travertine tile throughout. This includes the floors in the entry area, the kitchen, the lanai and the two bathrooms.

Customer Listing Synopsis

Video/Virtual Tour

 Kaanapali Shores 
Kaanapali Shores 258

$2.149M (FS)
Great location in the low rise tower within this beautiful beachfront property. Unit has been updated over the years from the owner and is in a busy vacation rental program. This resort boasts many onsite amenities, such as 24 hour front dest operation, full service restaurant, 2 swimming pools and Jacuzzi, tennis courts, Pickle Ball courts, activity desk, workout gym, gift shop.
Kaanapali Shores 2
Kaanapali Shores 356
$2.275M (FS)
This suite offers excellent ocean views from the living room and main bedroom, Granite counter tops, refurbished kitchen and bathrooms. If you are looking for incredible value on Maui's West Side, chose the Aston Kaanapali Shores Resort. This popular 10-acre condominium hotel boasts two swimming pools, two spa pools, saunas.
Mahana 1119
$2.995M (FS)
Discover this beautifully appointed and spacious two-bedroom residence at the Mahana situated at the North end of Kaanapali’s Kahekili Beach. A rare and coveted corner location on the South side of the Lanai building, it has floor to ceiling windows which frame the dramatic views of the sandy beach that extends all the way down to Puu Kekaa, Black Rock.  
Wailea Point 601
$5.56M (FS)
Pacific Blue at your feet! Top to bottom remodel with hard wood floors, open floor plan that flows from one room to the next. The only remaining materials from original build are the exotic koa cabinets. The unit comes fully furnished turnkey. Kick back and enjoy year round sunsets, epic whale watching from the large spacious lanai.

Vacation Condos Under $1M

Waipuilani 305

$575K (FS)
This one-bedroom, furnished condo sits on the third floor, allowing the ocean breeze to flow freely through the floor-to-ceiling windows lining the main living space. The main living space and kitchen are adjoined, giving it an additional spacious feel. The full-sized bathroom is accessible through the hallway and the bedroom.
Napili Shores
Napili Shores D-232
$650K (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. 
Kihei Kai
Kihei Kai 4
$695K (FS)
North Kihei hidden gem. This unit is a turnkey vacation rental in a small 24 unit Beachfront complex on Sugar Beach. This unit is heavily booked with a great rental history. 
Kihei Kai Nani 254
$745K (FS)
Desirable open concept layout and updated finishes. Making this the perfect island getaway. Upon entering, find yourself welcomed by light-filled interiors that let the outdoors in. To the left of the primary living space, you’ll find an upgraded kitchen with ample counter space, stainless steel appliances and an island.
Kihei Kai Nani 2
Kihei Kai Nani 211
$759K (FS)
This beautiful 1 bed 1 bath, 621 sf. vacation rental has recently been remodeled. Upgrades include a spacious new kitchen, modern appliances, a ceramic sealed cooktop with oven, microwave, upgraded bathroom and new flooring inside the unit and lanai. The unit comes with 2 new AC split systems in living room and bedroom. 

Residential Condos Over $1M

Wailea Palms
Wailea Palms 3508
$1.799M (FS)
A top floor, 2 bedroom 2 bath unit situated in the lower quiet area of the complex. 3508 has a desired north facing location allowing for maximum use of the nearly 300 sq ft partially covered lanai! There are stunning ocean views with west Maui in the background from the primary bedroom, lanai, and living room. The unit has a tastefully remodeled kitchen with stainless steel appliances.
Wailea Fairway 2
Wailea Fairway Villas X-103
$1.899M (FS)
This three bedroom three bath condo has a beautifully updated kitchen and an extra bonus space upstairs that is perfect for an office or family room. The unit is in a great location in the complex, and it is being sold furnished to make your transition simple.

Residential Condos Under $1M

  Puuone Towers and Plaza
Puuone Towers and Plaza 601

$310K (FS)
Welcome to this 2 bedroom, 1.5 bathroom unit at Puuone Towers, located in a central location of Maui, offering breathtaking mountain and ocean views. Imagine sitting on your lanai, feeling the refreshing breeze and watching the rain hit the mountain valleys. This pet-friendly unit has great potential, it presents a fantastic opportunity for a renovation to make it your own. 

Customer Listing Synopsis

Kihei Villages
Kihei Villages 13-104
$635K (FS)
This unit has two bedrooms and two bathrooms with shower in second bathroom. There is one parking stall and nice private yard. Pets are allowed in this complex. Great tenants would love to stay. Note there are stairs up to front door.
Villas at Kenolio
Villas at Kenolio 3-D
$699K (FS)
Rare opportunity to own a fully furnished, completely dialed in 2 bedroom, 2 bath ground-floor condo in the best building in one of the loveliest pet-friendly properties on Maui. Located in the only four-unit building in the Villas at Kenolio, this condo is ideally situated, with expansive views of greenspace from the lanai.
Hale Kanani
Hale Kanani 3-102
$820K (FS)
This well maintained 2 bedroom 2 bath unit is located on the ground floor and is 1 of 8 units in the complex with an extra storage unit! There is carpet and tiled flooring throughout as well as ceiling fans and central AC. The covered lanai looks out towards the tropical landscaping along side the road way. 

Vacant Land

0 Kiha Place Lot 46

$499K (FS)
Amazing opportunity to own a custom homesite in the new Wai'olu Estates development. This lot is located towards the end of Kiha Place and is 9,911 square feet. Enjoy beautiful Haleakala mountain views. Subdivision improvements are underway and are scheduled to be completed at the end of summer 2023. Use and access will be limited until construction is complete.

The Smith Team
(808) 572-0866
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Coldwell Banker Island Properties
#B-35 3750 Wailea Alanui Drive
Wailea, Hawaii 96753

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