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 1015 August 16th, 2022
 

Aloha


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 (5)
Condos (1)
Land
New Properties 
Price Reductions  

Short Sales
Homes  

Condos 
Land
New Properties

Price Reductions 

 
Wailea Pualani Estates
 390 Pualoa Nani 

390 Pualoa Nani Place 
Wailea
$2.499M (FS)


Update on Wailea Residential Market

 

This week we are examining the Wailea residential market limiting the scope to homes under $5M so we can hopefully get some good comparisons.

 

As of Aug 15, 2022, there were 9 Active, 3 Pending, and 5 Sold Listings in the last 4 months.

 

The 9 Active listings range in price from $2.5M to 4.8M with Average Days on Market equal to 57.

 

The 3 Pending Sales range in price from $2.2M to 4.7M with Average Days on Market = 104.

 

The 5 Sold listings ranged in price from $2.27M to $4.6M and were on the market for an average of 89 days before closing.  All 5 of those listings closed at or above list price.

 

One other comparison that we find useful is the Average Price Per Square Foot which you would expect to be higher for these luxury homes.

 

Active Listings = $1050/ sq. ft.

 

Pending Sales = $1185/sq. ft.

 

Sold Listings = $1160/sq. Ft.

 

What conclusions, if any, can we draw from these numbers?  It would appear that the market is slowing down somewhat and becoming more balanced between Buyers and Sellers.

 

This is good news for Buyers who may have previously missed out because of getting out bid.  

 

If you’d like to review the listings used for these comparisons, here is a link to a Comparative Market Analysis and Details about the Listings (Click on the Arrow under Views to toggle between the two reports).

 

Our recommendation for the Best Buy of the Week in this group is the home at 390 Pualani Place in Wailea Pualani Subdivision.  This home was just reduced in price from $2.9M to $2.5M and is now being offered completely furnished.  Let us know if you would like to make an offer.  It should sell very quickly!

 

Have a wonderful week.

 

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. Looking for something more affordable, then consider this ocean view home in Wailuku being offered at $460/sq. ft.
Follow Us
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Market Watch
 
Active
Pending
Sold
Change
Homes
266 (224)
136 (65)
1233 (691)
+8
Condos
218 (100)
236 (129)
1881 (568)
-2
Land
110 (53)
 35 (8)
277 (92)
-1
Total
594 (377)
407 (202)
3391 (1351)
+5
 
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.

 

Homes Over $1M

 58 Kino 
58 Kino Place
Pukalani
$1.2M (FS)
Spacious custom built and beautifully designed 2,939 sqft. home in the highly desired Pukalani Highlands Subdivision. The interior living room features an elegant staircase with an impressively high ceiling with many windows bringing in the natural light. The primary suite with a luxury bathroom is located on the upper level along with 2 guests bedrooms and another full bathroom. 
 
45 Ala Hoku
45 Ala Hoku Place
Kahana
$1.95M (FS)
Two-story West Maui home on 2.3 acres. This spacious home with 7 bedrooms and 6 bathrooms was carefully thought out with a covered outdoor lanai area in the back of the home. Explore the possibilities with this Agriculture zoned property.
 

 
23 n
23 North Piki Place
Kaanapali
$2.295M (FS)
This upgraded 3 bedroom, 2.5 bathroom home features ample living space and an open floor plan with a total of 3,185 square feet under roof. Enjoy scenic ocean views of Lanai and Molokai with year round sunsets and seasonal whale watching from the primary bedroom and large lanai located on the second story. 
 
71 Door of Faith
71 Door of Faith Road
Haiku

$3.3M (FS)
This North Shore oasis boasts a beautifully remodeled home with a bonus ohana downstairs for a total of 4 bedrooms and 3.5 baths in the main structure. In addition there are three Bali style bungalows each with a bathroom, two pool suites each with half baths and share an outdoor shower.
 

Homes Under $1M

2839 Iwalani
2839 Iwalani Street
Pukalani

$779K (FS)
This property in highly desirable upper Pukalani is a true diamond in the rough, with single-level living, a bit of an ocean view from the kitchen, a spacious and private fenced back yard, a garage, and a legal permitted Studio ohana. Located on a beautiful Pukalani street convenient to schools, close to shopping, and a quick 10 minute cruise to Kahului. 
 
 22 Akoni Pl 
22 Akoni Place
Paia

$849K (FS)
Cute smaller home on quiet dead-end street. Enjoy the convenience of living within short walking distance to all of Lower Paia including sandy beaches, swimming, surfing, yoga, shopping, banking, post office, restaurants & bars, Paia. And offers a great opportunity for a new owner to make improvements and upgrades to their liking. Adding a future 2nd story may offer ocean and mountain views. Living room has been converted to two additional rooms. 
 
21 Ku'uhale Pl
21 Ku'uhale Place
Wailuku

$925K (FS)
Bank Owned. This beautiful, well-kept property is located in the highly sought-after Maui Lani community. You'll notice the high vaulted ceilings in the family room as soon as you enter, and one of the best features of the property is the open kitchen and large dining area. Don't miss your chance to own a spacious.
 

Vacation Condos Over $1M

 Hololani 
Hololani A-702
Kahana

$1.095M (FS)
This stunning 7th floor location at Hololani is really something special. The views are jaw dropping as soon as you walk through the front door you are drawn to the expanse of the pacific ocean. Imagine siting on your lanai enjoying your coffee and watching the turtles daily and in the winter months seeing humpback whales breaching.
 
Palms at Wailea
Palms at Wailea 1209
Wailea
$1.29M (FS)
This large 1 bedroom, 2 bath ground floor unit is both bright and spacious with many paths leading out to the tiled lanai and grassy yard access. The inner courtyard location is most relaxing with close access to the pool/spa area. The floor plan is generous and open which gives it a feel larger than it is on paper.

Customer Listing Synopsis

Kaanapali Shores
Kaanapali Shores 623
Kaanapali
$1.375M (FS)

This ocean view 2 bedroom 2 bath unit features an open full size kitchen with granite counter tops, tiled floors, custom wood cabinetry and ocean views from the master bedroom, living room, and kitchen towards the outer islands and courtyard pool. If you are looking for incredible value on Maui's West Side.

Customer Listing Synopsis

 

Kapalua Ridge
Kapalua Ridge 1711
Kapalua

$1.475M (FS)
Breathtaking panoramic views as you enter this tastefully furnished remodeled end unit 1 bedroom 2 bath townhouse at the Kapalua Ridge Villas. Building 17 sits high atop the Ridge Villas with panoramic views out to Honolua Bay and across to Molokai. Immaculate and move in ready. Easy access through a beautifully landscaped entry area with no steps from the sidewalk & carport into the villa.
Whaler
Whaler 502
Kaanapali
$4.975M (FS)
Rare Opportunity, spectacular direct beachfront 2 bedroom 2 bath condominium at The Whaler on World Famous Kaanapali Beach. Enjoy the stunning views out to the renowned Black Rock, along with the amazing West Maui Sunsets while enjoying your spacious, wrap around lanai. Watch the Majestic Humpback whales during the Winter season.

Vacation Condos Under $1M

Napili Shores
Napili Shores F-248
Napili
$795K (FS)
Napili Shores Resort is situated on an oceanfront parcel at Napili Bay. Low-rise and tranquil, this Napili resort garden setting is enhanced with shady monkey pod trees, fragrant plumeria blossoms, and shady coconut palms. Some of the best snorkeling on Maui (Honokeana Cove) and a beautiful sandy beach, Napili Bay. 
Kahana Reef
Kahana Reef 216
Kahana

$865K (FS)
Stand on your Lanai and throw a golf ball into the ocean. During Whale season you will have a front row seat. This second floor corner, one bedroom, condominium gives you privacy, security and quiet. This is a direct ocean front unit on the corner that allows for plenty of sunshine, and views of the neighboring islands.
Kihei Parkshore
Kihei Parkshore 13
Kihei

$949.5K (FS)
This 2 bedroom 2 bath upstairs unit with bonus loft area is a gem to be found in this cozy 16-unit boutique-style condo. Rarely do units ever come up for sale here, so jump on this opportunity now to be the next owner of Kihei Parkshores. Some of the featured highlights of this unit include vaulted ceilings in living area and bedrooms.

Customer Listing Synopsis

Video/Virtual Tour

Residential Condos Over $1M

Masters
Masters 501
Kaanapali
$1.025M (FS)
The private location features an expansive lawn off the lanai and around the side, and lush landscaping makes for a private retreat. A rare floor plan, this corner, end unit has no other units above or below. Vaulted ceilings create an expansive airy feel, and windows open to Maui’s tropical breezes. 
 
Kai Malu
Kai Malu 34-A
Wailea
$1.999M (FS)
Spacious and flooded with natural light, this west-facing home has an extended lanai to enjoy meals and relaxation with the backdrop of Haleakala Mountain and the Wailea Blue Golf Course. The primary suite boasts a large bedroom with private lanai, two large closets, bathroom with double sinks, a walk-in shower and separate soaking tub. 
hale
Na Hale O Makena E-201
Makena
$2.85M (FS)
Units are very spacious and open with Ocean views from the living area, Lanai and Master suite. Has all the amenities you would expect like granite counters, top of the line appliances, travertine flooring and more. Being sold furnished. Each unit has one assigned covered parking stall with a storage locker plus an open parking stall unassigned.
 

Residential Condos Under $1M

  Ke Nani Kai
Ke Nani Kai 125
Maunaloa
$340K (FS)
Fantastic 2 bed 2 bath ground floor unit. Embrace the island life on the tropical island of Molokai. Away from the hustle and bustle of the city and claim your piece of paradise. Sit back and relax on the lanai as you look out on west Molokai. Watch breathtaking sunsets and the crashing ocean waves on Papohaku Beach. This unit comes fully furnished, tiled throughout and stainless-steel appliances.

Customer Listing Synopsi

Kihei Villages
Kihei Villages 3-203
Kihei
$550K (FS)
Perfectly renovated top-floor unit with a nice view of the West Maui Mountains and a peek-a-boo ocean view from your private lanai. Sunsets are must-see. Enjoy new vinyl flooring throughout, new fixtures, appliances, and an open concept floor plan that is ideal for entertaining.

Vacant Land

21 Ualei Pl Lot
21 Ualei Place Lot 1
Makena
$6.5M (FS)
We all have multiple desires. We want privacy, but we want to be close to the beach. We want intimacy, but we need space. We want proximity to restaurants and shops, but we want acreage. If you build your dream estate. Place you don't have to sacrifice privacy to be near one of the world's best beaches. You don't have to sacrifice space to be close to the world renowned Wailea Beach Walk.

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

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