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| Issue 375 | May 11th, 2010 |
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| Aloha ,
In this newsletter:
REO Properties
Short Sales |
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Market Update
Here is a summary of what is happening in our the Maui real estate market as of the latest reporting figures from the Realtors® Association of Maui for the month ending April 30th.
1. Residential sales rose for a third month in a row to 88 sales.
2. Condo sales posted a 50 month high of 158 units sold; however 45 of those were new Developer sales at Honua Kai. This will throw off the statistics for both average and median condo prices, because these sales all went under contract a few years ago when the market was higher.
3. We still have 11.8 months of home inventory and 9.2 months of condo inventory at the present absorption rates. These numbers still favor Buyers; however, the trend has been down, so we are improving.
There is a lot more data available, such as land sales and sales broken down by areas. Read more.
The numbers show a clear indication of a market that is starting to turn. We hope that this trend will continue, and will keep you posted as new statistics become available in the month's ahead.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team P.S. Makena Beach and Golf Resort Auction postponed until May 28, 2010. Bidding is anticipated to be quite lively for this prime piece of Maui Real Estate. If you have the means or wherewithal to raise $250 Million or more, and have an interest in participating in the bidding, please let us know.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for May 10th, 2010
| Active | Pending | Sold | Change | |
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| Homes | 869 (362) | 248 (33) | 792 (103) | -4 |
| Condos | 1282 (230) | 269 (13) | 985 (150 | +2 |
| Land | 556 (155) | 34 (8) | 126 (23) | -1 |
| Total | 2707 (747) | 551 (54) | 1903 (276) | -3 |
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1. The numbers in parentheses reflect the number of listings over $1M |
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Short Sale. Hollywood designer's Maui home. A short walk to Ka'anapali Resorts beautiful beaches, exclusive golf courses, fine dining, and shopping. The spacious interior and luscious exterior create a feeling of Joy and tranquility. |
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Designed by renowned architect Rick Ryniak, with space, functionality and flow in mind, this spectacular contemporary Mediterranean 4,200 sq. ft.+ residence is located on the 9th tee of the Ka'anapali Kai Golf Course. It offers beautiful panoramic ocean and island views from every room. |
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This stunning, sprawling single-story, new 4-bedroom home is located on an almost 8-acre front-row estate on the edge of a deep ravine for total privacy. Finished with uncompromising quality, this home has African Wenge wood floors and multiple pocket and bi-fold doors to bring the pristine outdoors in. The homes distinguishing feature is the spectacular, panoramic ocean views of Lanai, Molokai and the incredible Kapalua sunsets in between. |
 595 Kulike Road Haiku $549K (FS) |
Haiku's best buy. 2.8 acres of tropical beauty. Good roads, home, cottage, out-building, water well, and storage tanks.
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The design of this amazing home is very dramatic with oversized tall picture windows in the sunken living room which has a wood burning stove w/a ventilator. Marble and granite is featured throughout the kitchen and bathrooms and the 1st level flooring is done with beautiful Belguim Quartzite. |
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 1791 Kalia Way Haiku $849K (FS) |
Surround yourself with 2 tropical acres of privacy and secret gardens consisting of over 80 varieties of native Hawaiian plants. This solidly built, single level home sits at the end of a cul-de-sac in desirable Haiku Country Estates. A gated entry and long tree lined curved driveway veil the home from the street.
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Bank Owned. Nice home on a cul-de-sac up in Ka'anapali Hillside. Detached 2 car garage, in ground pool, tile flooring, large master bathroom, and large living area downstairs. |
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Short Sale. Best ocean view for unbelievable price. Upper level has vaulted ceiling, remodeled kitchen w/granite counters & wood cabinets, 2 spacious bedrooms & 2 baths with ensuite bath in master which features a lovely large soaking tub. Immaculate Lower level features open living plan with 2 additional bedrooms and one bath. Cottage is off separate street of Waileia Pl. |
Ho'olei K-6
Wailea $2.795M (FS) |
Relax and enjoy the privacy and direct ocean views that the "K" building provides. Positioned directly across from the Four Seasons and Grand Wailea Hotel Resort and Spa, Ho'olei truly represents the best Wailea has to offer! For those seeking the privacy of an upscale residence with the ease of a condominium, Ho'olei offers a tremendous opportunity. |
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Bank Owned. Beautiful 2 bedroom condo that was tastefully upgraded in 2003 and made into a home. Some of the upgrades include a custom crafted bathroom, solid cherry cabinets (with tambor panels and lazy susans), top of the line new GE Profile appliances, recessed lighting, pergo flooring in the bedrooms and tile floors throughout. If you love to entertain, slide back both patio doors to extend your living area to the outside.
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Bank Owned. 2 bd. 2 bath across the street from Cove Park. Turn key, ready to move in.
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 Kapalua Golf Villas 27T8 Kapalua $483K (FS) |
This 1 bedroom, 1.5 bath end unit townhouse is located next to the Pineapple Hill Estates gated community of single family homes and enjoys a quiet cul-de-sac location with direct frontage on the 11th fairway of the famed Kapalua Bay Course.
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 Hale Kanani 1-203 Kihei $379.9K (FS) |
Bank Owned. Clean 2 bd. 2 bath unit with 890 sq. ft. of living space. Second floor location with ocean views. Complex has in-ground pool and assigned parking. |
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 Wailea Fairway Villas K-202 Wailea $468.9K (FS) |
Bank Owned. Beautiful ocean and golf course views from this upstairs Wailea Fairway Villa 2 bedroom 2 bath unit. |
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Beautiful ocean view overlooking the 10th Fairway of the Ka'anapali Kai Course and Ka'anapali Resort. Sunsets are especially spectacular. This free standing 3 bedroom 2 1/2 bathroom condominium is being offered unfurnished. The Vintage amenities include a fitness center, community pool and spa and resident manager. Seller will consider owner financing. |
 V Kam V Highway Molokai $539K (FS) |
Kawela Beach front lot priced to sell. This great one ace lot is located approximately 4 miles East of Kaunakakai. It has unobstructed views of Lanai and Maui. |
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