Issue 985 January 18th, 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 - (1) Condos - (2 - ) Land New Properties Price Reductions Short Sales Homes - Condos Land - (1) New Properties Price Reductions Luxury Beach Front Estate in Kihei - 1730 Halama Street Kihei $12.498M (FS) - Customer Listing Synopsis - Video/Virtual Tour The High Price of Low Inventory Recent trends in the Maui real estate market have disproportionately impacted local residents. According to an article put out by Hawaii Budget and Policy Center, - residents must earn 140% of the area median income (AMI) in order to access the market. The median home price reached a record high of one million in 2021, however, the median Maui household income hovered around $80,000. This means many local residents are priced out and have no ground to stand on in today’s market. Despite the huge demand for affordable housing, single-family home inventory dropped 40% from the previous year and new construction of market-price homes outpaced affordable housing construction by a factor of two. While low inventory in general drives housing prices up, benefiting investors and wealthier families, the cost to local residents is very high. Solving Hawaii’s housing crisis is important to maintaining the integrity of our island culture, because the residents of these islands are the long-term stewards and workforce that support our island's economy. Mahalo Nui Loa, Ken Smith R(S), Melissa Smith R(B), and Gregory P Smith R(B) The Smith Team P.S. We hope you enjoyed the long weekend and found time to reflect on Martin Luther King, Jr. and his selfless dedication to the advancement of the civil and economic rights of black people. This article - highlights lesser known facts and details about the life of MLK. P.S.S. Our thoughts and concern go out to all peoples impacted by the massive volcanic eruption and tsunami that took place near Tonga on Saturday the 15th. According to a report - by CNN, the explosion was the largest recorded in the past 30 years. Follow Us - - - Market Watch Active Pending Sold Change Homes 173 (146) 203 (106) 1377 (683) -1 Condos 133 (56) 340 (142) 2339 (587) -7 Land 113 (48) 59 (15) 405 (115) -7 Total 419 (250) 602 (263) 4121 (1385) -15 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. MARKET STATISTICS - January 2021 - February 2021 - March 2021 - April 2021 - May 2021 - June 2021 - July 2021 - August 2021 - September 2021 October 2021 - November 2021 - December 2021 - Homes Over $1M - 4871 Lower Honoapilani Road Lahaina $9.5M (FS) One of only four estate sites with access to Kahana’s secret beach. It features 6b/7b, including an upper and lower master suite and a private caretakers' quarter. An elevator accesses a fabulous media/game room located adjacent to the upper master suite. Only minutes away from the world renowned Kapalua Resort’s Plantation and Bay Golf Courses, the best beaches, surfing spots and fine dining. Customer Listing Synopsis - Video Tour - - 3911 Maalaea Bay Maalaea $4.395M (FS) Total privacy with only nine homes on this little stretch of South Maui. These properties rarely change hands because once you move in you won’t want to leave! Completely remodeled and move in ready. 200 ft of private shoreline with direct ocean access to launch your kayaks or paddle-boards. There are many terraced lawn areas for outdoor activities. Incredible surf breaks just minutes away. Nestled in the hillside, protected from the wind. Customer Listing Synopsis - - Video Tour - 3306 Mapu Place Maaui Meadows Kihei $2.288M (FS) The well-built home has a stucco exterior, 2 whole house fans, a carport and an extra storage unit outside. A new septic system was just installed for the main house. The one-bedroom cottage has had a cute remodel and is very private with a separate driveway to the lower part of the half-acre lot. Great location near the end of the cul de sac, the property also has grapefruit, orange, lilikoi, lemon and banana plants to enjoy. Customer Listing Synopsis - - 59 Ululani Street Kula $1.395M (FS) A fantastic Kula Nani home is now available and ready to move in. In great condition, this 2b/2b home where 1 bedroom is set up as an office. Amazing views and tree trimming is scheduled for mid-January 2022. A cell tower lease on property (listed as ohana for income purposes) generates $800 per month. There are lots of opportunities on this property for future expansion, including the potential to build a cottage. This property is in a great location in cool, beautiful Kula. Customer Listing Synopsis - - 44 Kumano Drive Pukalani $1.09M (FS) Aloha and welcome to 44 Kumano Drive, an ideally located single family home and detached cottage on the gently sloping hillside of Haleakala. With two homes on the property, opportunities abound for a large family to spread out or for a smaller one to have an onsite rental. Pukalani is known for perfect year-round temperatures and this property features lush and mature landscaping under the shade of a large jacaranda tree. - Customer Listing Synopsis Homes Under $1M - 12 Alana Place Makawao $870K (FS) Come home to 12 Alana. This is a lovely single level house in Makawao that has been updated throughout. Fresh paint inside and out, new roof and windows, new appliances and blinds, this home really sparkles. The garage has been enclosed and makes a great family room while still maintaining some storage. It has a nice front and back yard with grass and is close to Makawao town. Customer Listing Synopsis - - 2224 Mokuhau Road Waikapu $589K (FS) Built in 1960, this 4b/3b home is located on a large rectangular 8,482 sqft lot. The recent survey shows bountiful options for an ohana in the back yard. Since this home is in need of repair, it's 'livable' while making repairs, or as a tear-down and rebuild. The location offers gentle trade winds and privacy nestled against the West Maui Mountains. The mature mango tree produces sweet seasonal mangoes. It's situated on a cul-de-sac and near to Mokuhau Park that borders the Iao River. - Customer Listing Synopsis - 979 Lahui Street Haiku $475K (FS) Entry level, single family home on a modest sized lot – large enough for your surf gear, herb garden and flowering plants. No HOA. Currently one of the lowest priced single family homes in Haiku. Located in Rice Camp, Haiku, this home lives as a 3 bedroom, 1 bath. (County records show it as 2b/1b home.) This property has a potential bonus if interested in a chance to own 2 properties back-to-back. See MLS 394353. - Customer Listing Synopsis Vacation Condos Over $1M - Wailea Point I II III #202 Wailea $18.5M (FS) The residence comprises the entire top floor of Building #1 at Wailea Point. Its singular position and the views are absolutely spellbinding. One of only 6 original “double units” at Wailea Point. The INTERIOR is a showpiece - unsurpassed in quality, workmanship and aesthetics - designed by world renowned Persis Hataria and built by highly acclaimed contractor Shawn Conners in 2012. Customer Listing Synopsis - - Kaanapali Alii #IV-504 Kaanapali $4.5M (FS) This luxurious beachfront residence includes a spacious floor plan with a 2b/2b plus den layout. Meticulously maintained and held for personal use only, this elegant condominium features travertine flooring, custom cabinetry, granite countertops and modern Kitchen Aid Stainless Steel appliances. With sprawling ocean views from every room and an expansive lanai overlooking Ka'anapali Beach along with the picturesque islands of Lana'i and Moloka'i, this rare offering is not to be missed. - Customer Listing Synopsis - Video Tour - - Kapalua Bay Villas I #31-G1 Kapalua $1.329M (FS) This ground floor, corner unit, is easily accessible and very private. Stunning ocean views from the living room and the upstairs master bedroom. The left was extended in 1999, providing an additional seating area, from where one can enjoy watching colorful sunsets, whales breaching, and boats passing by, with the beautiful Molokai island in the background. Customer Listing Synopsis - Vacation Condos Under $1M - Kihei Surfside #306 Kihei $925K (FS) This 1b/1b fully furnished unit located between Keawekapu Beach and Kihei Kamaole Beach Park III is meticulously landscaped. It is part of a successful vacation rental program and is ready to go. Kihei Surfside has recently completed a major pool and BBQ renovation. Maintenance fees include: electricity, water, cable, wireless internet and maintenance of buildings and grounds. Customer Listing Synopsis - - Aina-Nalu #J-103 Lahaina $750K (FS) Aina Nalu is the only vacation condo in downtown Lahaina and unit J103 is in one of the best locations in the complex. The corner location is easily accessible from the parking lot, there are no stairs to climb and it is probably the quietest area of the property. J103 is a 2b/2b delightful Maui hideaway. There are 2 pools, including a saline infinity pool and hot tub, and lush tropical plants. waterfalls and fountains add tranquility to the gardens and meditation areas. Customer Listing Synopsis - - Kaanapili Shores #929 Kaanapali $699K (FS) This top floor ocean view 2b/2b unit features an open full-size kitchen with granite counter tops, custom wood cabinetry and 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, choose the Aston Kaanapali Shores Resort. This property has a history of high rental occupancy and income for the owners who want to participate in vacation rentals. Customer Listing Synopsis - - Video Tour - Royal Kahana #215 Kahana $630K (FS) A beautiful & well decorated 1b/1b spacious apartment with excellent views. This apartment is in the Outrigger vacation rental program & is in “turn-key” condition. Open floor plan for easy living. Upgraded kitchen & air-conditioning system. The Royal Kahana has had substantial improvements over the last several years, including a new pool deck with new BBQs, tropical covering for shade and lots of new palm trees. Customer Listing Synopsis - Residential Condos Over $1M - Hokulani Golf Villas #134 Kihei $2.595M (FS) This is a premium site, away from the highway, perched on a knoll with a great ocean and West Maui Mt. views. Going inside, you will be amazed at the top to bottom renovation, a completely new kitchen, new master bath with soaking tub, all baths renovated, the home was completely repainted right down to the base boards. Very tastefully appointed, in a palate that all can appreciate, the home comes fully furnished with designer furnishings. - Customer Listing Synopsis Residential Condos Under $1M - Villas at Kehalani #1103 Wailuku $925K (FS) This beautiful & rare 2b/2.5b unit is situated in a gated complex which provides the security and comfort you deserve. The upgraded interior finish includes granite countertops, both tile and engineered hardwood flooring, upgraded appliances, strategically placed cabinets, and spacious closets. All of this comes with beautiful mountain and ocean views. The added bonus is a fully enclosed 2-car garage with epoxy flooring. Please schedule your appointment for a showing today! - Customer Listing Synopsis - Keonekai Villages #27-203 Kihei $625K (FS) Newly renovated in 2019, this beautifully furnished 2b/2b second story unit is light and bright and super private! Upgrades include bamboo flooring, new cabinets, granite counter tops, and stainless steel appliances. The unit is move-in ready. Perfect for an owner-occupant or as a 2nd home. There are 2 (tandem) parking stalls and the BBQ area is close by for entertaining. Keonekai Villages is one of the most desirable and dog-friendly condominiums in Kihei near Kamaole III beach and more. Customer Listing Synopsis - - Southpoint at Waiakoa #11-106 North Kihei $465K (FS) Lovely ground floor unit at Southpointe with two tandem parking stalls. New updates include vinyl flooring though-out this 2b/1.5b residential condo in the heart of Kihei. A large and lush yard with trees for privacy creates the perfect home or long-term rental property. Southpointe at Waiakoa is a pet-friendly complex located in North Kihei with easy access to beaches, shopping and dining. Customer Listing Synopsis - Vacant Land - 2455 S. Kihei Road Kihei $12.730M (FS) Kamaole Grand is approximately 8.396 acres of land, situated between S. Kihei Rd & Liloa Hema Dr; directly behind Kamaole Shopping Center. This parcel is within a few hundred yards (across the street) from the popular Kamaole (I, II) Beach Parks and surrounded by a variety of restaurants, grocery stores, specialty shops and medical services - offering ease and conveniences plus beautiful ocean and mountain views. This project received its Special Management Area (SMA) approval for development, with a current expiration date of April 2023. Schematic drawings are included with the purchase. - Customer Listing Synopsis The Smith Team (808) 572-0866 - - - - ______________________________________________________________________ Click to view this email in a browser If you no longer wish to receive these emails, please reply to this message with "Unsubscribe" in the subject line or simply click on the following link: ______________________________________________________________________ This message was sent by The Smith Team Coldwell Banker Island Properties using VerticalResponse Coldwell Banker Island Properties #B-35 3750 Wailea Alanui Drive Wailea, Hawaii 96753 US Read the VerticalResponse marketing policy: