|
Aloha ,
In this newsletter:
Short Sales
Homes
Condos
Land
New Properties
Price Reductions
|
Keawekapu Beach Estate
|
Market Update
Leasehold properties are very common in Hawaii and the reason behind that is Hawaii's unique history dating back to the times of the Royal Kingdom. When land ownership legislation was created in 1848 a land commission divided all the King's land into joint ownership between the King and the Royal Government.
This land commission gave buyer's such as western missionaries and land trusts the right of possession to the land but not necessarily ownership. So leases often as long as 99 years or more were a way for the government to "temporarily sell" land.
Leasehold purchases allow buyers to occupy a property and temporarily possess a dwelling but when the lease is up all structures become property of the original owner. Lessors typically have the first opportunity to purchase when a lease is up. Many Hawaii leasehold properties have already been or will eventually be converted to a fee simple status.
Have a wonderful week,
Lindsey for The Smith Team
Ken, Melissa and Lindsey
P.S. - The new year has brought some changes to FIRPTA, which is the tax withholding law that applies to foreigners. The FIRPTA withholding rate increased from 10% to 15% for homes over $1M.
Melissa Smith R (B), Ken Smith R (S)
Market Watch
| |
Active
|
Pending
|
Sold
|
Change
|
|
Homes
|
563 (328)
|
227 (31)
|
1087 (185)
|
-1 |
|
Condos
|
824 (211)
|
190 (20)
|
1203 (161)
|
-19
|
|
Land
|
340 (116)
|
30 (4)
|
153 (25)
|
-28 |
|
Total
|
1727 (655)
|
447(55)
|
2443 (371)
|
-48 |
|
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.
|
|
Homes Over $1M
412 Wekiu Place
Kaanapali
$1.795M (FS) |
Private end of cul-de-sac location in The Summit, a gated community within Kaanapali Golf Estates. Single level with phenomenal ocean, island, and mountain views. Adjacent green belt enhances privacy and view corridors. Many unique features including extensive use of Koa wood.
|
3904 Waakaula Place
Wailea
$2.695M (FS) |
Exclusive home in gated Wailea Golf Estates. Stupendous Panoramic Ocean Views while still retaining privacy. Open, Spacious, and airly lends itself to true Hawaiiana living. Wake up to Ocean Views in the vaulted ceiling Master bedroom. Two en-suite bedrooms are perfect for guests or home office.
|
 85 East Waipio Road
Haiku
$3.36M (FS) |
You will be “Enchanted” by these elegant homes on 4 secluded and landscaped acres, overlooking an arc of sea life in Waipio Bay. Your senses will be stirred by the awesome power of nature, the splendor of the ocean, the cliffs, waterfalls, the tropical landscaping; all come together to enhance the magnificence of this property.
|
231 Plantation Club Drive
Kapalua
$6M (FS) |
Short Sale - Overlooking the emerald fairways of the renowned Ben Crenshaw-designed PGA Championship Plantation Course, and beyond to the magical Kapalua sunsets between the neighboring islands of Molokai and Lanai, is a one-of-a-kind Hawaiian Plantation residential compound.
|
Homes Under $1M
11 Hooiki Place
Kihei
$459.9K (FS) |
Bank Owned - This is a great clean single level home in North Kihei. Low maintenance yard and a one car garage. A block away from the beach and a convenient location when driving to Central Maui or the West Side. Added extended driveway for additional parking.
|
 817 Mahlulani Place
Kihei
$569.9K (FS) |
Bank Owned - Great floor plan with spacious lot. This ranch style five-bedroom home is centrally located, close to all of the conveniences. The home has been updated with fresh paint inside and out, new carpets, new garage door, and all plumbing and electrical has been inspected and repaired.
|
44 Hoolai Street
Makawao
$598K (FS) |
Bank Owned - Great Potential! Three dwellings on a large lot upcountry Maui! 5 bedrooms and 3 bathrooms in main building.
|
62 Kumulaau Ohia Loop
Wailuku
$630K (FS) |
Lovely 2 story home w/amazing mountain views in great family neighborhood. Immaculate, move-in ready. First floor additional room bonus - [by way of glass paneled French doors]. This enhancement offer one the option of an additional bedroom/mother in laws quarters, den or office.
|
182 Keoneloa Street
Wailuku
$745K (FS) |
Great value! 182 Keoneloa Street will be a 3,480 square foot single story home with high ceilings. Luxurious interior features include double master bedrooms, big round walls, tile roof and an ocean view. There will be an attached 440 square foot garage. Construction completion should be June 2016.
|
Vacation Condos Over $1M
Polo Beach Club #509
Wailea
$2.3M (FS) |
Like no other this very special condo stands alone as perfection at its best. The final exquisite masterpiece has arrived. Paying attention to every detail and sparing no expense, this condo was redesigned and reconstructed by the top in the field. Move right in and enjoy the ocean views and convenience this lifestyle offers.
|
Wailea Point #1101
Wailea
$4.25M (FS) |
Absolutely stunning ocean & island views AND great privacy. Very possibly Wailea Point’s finest location facing west to Molokini and lanai Islands and the West Maui Mountains. Direct oceanfront, 52 feet above sea level. The pedestrians on the acclaimed oceanfront path are well below, and mostly out of sight. Ground level for ease of ingress & egress.
|
Montage Residences #1404
Kapalua
$4.35M (FS) |
Introducing Montage Residences Kapalua Bay. A truly one-of-a-kind opportunity to own along the West Maui shoreline, overlooking the white sandy crescent of Kapalua Bay, with panoramic ocean views framed by the neighboring islands of Molokai and Lanai. Located within the renowned Kapalua Resort.
|
Vacation Condos Under $1M
Aina Nalu #G110
Lahaina
$400K (FS) |
Aina Nalu is one of the hottest properties on Maui and G110 is one of the finest condos at Aina Nalu. Aina Nalu G110 is a corner unit located in a convenient quiet location. The ground floor offers owners and guest 2 easy entry points. Easy access from your vehicle with no stairs means no struggling up stairs with luggage or a load after that Costco trip.
|
Maui Vista #1-418
Kihei
$435K (FS) |
Nicely remodeled top floor condo with beautiful ocean view! This corner unit has extra windows for great natural lighting, upgraded flooring, new cabinets and nice furnishings. This sweet condo is being sold "turnkey" with everything included right down to the dishes and linens. A brand new dishwasher, refrigerator and water heater were all added in 2013.
|
Kamaole Sands #8-305
Kihei
$529K (FS) |
Beautifully renovated, highly-desired SINGLE LEVEL, TWO-BEDROOM, TWO BATH unit! The convenience of the second bedroom being on the same level cannot be overstated, both for owners and renters! Kamaole Sands is a favorite of renters, being just across the street from Kamaole III Beach, and very close to Keawakapu Beach.
|
Residential Condos
Villas at Kenolio #15-D
Kihei
$365K (FS) |
Located in the best location at The Villas at Kenolio Unit 15-D is a well maintained 2 bedroom 2 bath ground floor unit and comes with 2 parking stalls which are steps from the unit! Enjoy the onsite fitness center and fenced in oversized swimming pool and hot tub!
|
Opukea at Lahaina #A-201
Lahaina
$495K (FS) |
Opukea is one of the newest complexes in the heart of Lahaina within walking distance to shopping, restaurants, and popular west Maui beaches. This low-density complex has a pool and BBQ area and is also pet-friendly. With 1373 sq ft A-201 is the largest of the 3/2 floor plan. Features include, central air and dual pane windows.
|
Masters #1905
Kaanapali
$950K (FS) |
Masters unit 1905 boasts views of the islands of Lanai and Molokai as it peers down the 10th fairway of the Royal Kaanapali Golf Course with year-around sunsets included. As a private residence, 1905 has been sparingly used throughout the years of ownership and has been meticulously cared for.
|
Masters #1906
Kaanapali
$975K (FS) |
When it comes to peace and serenity, location is everything and this home delivers. Masters 1906 invites breathtaking views of Lanai and Molokai while gazing over the 9th and 10th fairways of the Royal Kaanapali Golf Course. Included in this property is the highly sought after "D Floor Plan" which offers greater comfort of living and a spacious kitchen design.
|
Hokulani Golf Villas #113
Kihei
$1.185M (FS) |
Customize your dream home. Hokulani Golf Villas have been uniquely designed to offer the comfort and privacy of a luxury home, combined with the carefree lifestyle of a condominium. Featuring natural stones, beautiful hardwoods, eco friendly design with soaring 12-foot high ceilings, spacious covered lanais and gourmet kitchens.
|
Vacant Land
411 Wekiu Place
Kaanapali
$500K (FS) |
This great view lot is located at the end of a cul-de-sac in The Summit, a gated community within the Kaanapali Golf Estates. It is beautifully landscaped, fully irrigated, and it was purchased by the current owner of the adjacent residence located at 412 Wekiu Place.
|
|
