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Aloha ,
Market Update
The U.S. housing market showed steady, modest gains in the first quarter as home prices rose and home owners' equity increased. Existing home sales increased by 4.7% over a year ago.
Mortgage default rates are lower than they've been in 40 years, with month late payments decreased by 2.35%. New foreclosure proceedings have dropped to their lowest level in 10 years.
Rents remain at an alarmingly high rate, outpacing income growth by 3.7%. The median cost of a 3 bedroom home in central Maui is $587,000. The average 3 bedroom home in central Maui rents for around $3000/month.
Home ownership numbers are the lowest they've been in 50 years at 63.6%. The home ownership rate is even lower for those ages 30-35 at 34.2%.
Have a wonderful week,
Lindsey for The Smith Team
Ken, Melissa and Lindsey
P.S. - Make your Mother's Day brunch reservations now for the holiday is this Sunday, May 8, 2016. Sarento's on the Beach will be having a special breakfast Amuse Bouche from 7 am until noon. Merriman's Kapalua will have a special brunch menu from 9 am -1 pm with prizes and giveaways.
P.S.S. - Coming soon, new residential community in Pukalani, "Kualono" will consist of 49 large lots. Contact us for further information.
Melissa Smith R (B), Ken Smith R (S)
Market Watch
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Active
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Pending
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Sold
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Change
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Homes
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552 (324)
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276 (42)
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1119 (192)
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+6 |
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Condos
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867 (213)
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253 (26)
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1198 (160)
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-23
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Land
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363 (125)
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37 (9)
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154 (22)
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+2 |
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Total
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1782 (662)
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566 (77)
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2471 (374)
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-15 |
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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.
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Homes Over $1M
15 and 17 Kili Nahe Street
Napili
$1.199M (FS) |
Kili Nahe is a wonderful neighborhood consisting of only eight homes in the Napili area. Brand new 3 bed, 2.5 bath plus den home, with construction which is nearly completed. The lovely gem features hard wood floors, tile in the kitchen and baths, carpet in some living areas, upgraded appliances and beautiful granite finishes as well as an adorable detached ohana.
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60 East Mahi Pua Place
Kaanapali
$1.8M (FS) |
Short Sale - Great opportunity to put the finishing touches on this fantastic estate nestled in a cul-de-sac of the exclusive gated community of, "The Pinnacle." This property is deserving of the touch and vision of someone looking for a luxury home yet is willing to put the effort into its completion.
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337 Manawai Place
Haiku
$2.7M (FS) |
A quiet country lane leads to this two acre property, guests will arrive at the front entry by way of the circular driveway. The main house is 4,200 sq ft with 5 beds, 4.5 baths. The Ohana, with high end finishes is 980 sq ft with 2 beds, 2 baths.
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Homes Under $1M
33 Olo Place
Wailuku
$450K (FS) |
This move-in ready home on Olo Place in Waikapu has a stylish interior and great location. Built in 1975, this remodeled 3 bed, 1 bath, 960 sq ft home for sale in Hawaii is solid masonry construction for exterior walls with drywall lining the interior.
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80 Kaiemi Street
Kahului
$499K (FS) |
Just completed, be ready to enjoy the remodeled interiors. The brand new kitchen highlights beautiful counter tops, impressive backsplash, cherry wood cabinets, a stainless steel range and a dish washer. This 4 bed, 2 bath home is situated on a large lot with mango and fruit trees in the backyard.
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 150 Mahina Street
Kihei
$729K (FS) |
Situated in the highly desirable Waimahaihai subdivision in Kihei, this newly remodeled 4 bed, 2 bath 1,452 sq ft home shows as brand new. This home features a new roof, new garage door, mini split air conditioning system, new windows and doors and much more.
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11 Lanikeha Place
Kahului
$740K (FS) |
Truly a gem in the desirable Islands at Maui Lani, this spacious 3 bed, 3 bath home has been meticulously maintained. Freshly painted inside and out, this 2 story home is move-in-ready. Additional living space includes a downstairs office or music room and upstairs area for another office or library.
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2721 Ohina Street
Kihei
$849K (FS) |
This immaculate, updated south Maui home is located just blocks to Kamaole Beach III. The great room has cathedral ceilings with lots of natural light giving that spacious and open feeling. This 3 bed, 2 bath home's kitchen has granite countertops and stainless steel appliances.
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Vacation Condos Over $1M
Napili Sunset #116
Napili
$1.25M (FS) |
A very rare once in a lifetime opportunity to own at Maui's most amazing beach, Napili Bay. This 2 bed, 2 bath corner ground floor condo has an oceanfront master bedroom and a second bedroom in the back which is all on one level. Tastefully appointed upgrades with granite kitchen counters and tiled bathrooms.
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Puamana #272-2
Lahaina
$1.5M (FS) |
A direct oceanfront 2 bed, 2.5 bath oasis in the beautiful gated community of Puamana. With majestic panoramic views of Lanai and Molokai, and steps from the blue Pacific ocean with a great surf break, community clubhouse, 3 pools, including one oceanfront and all the amenities that Puamana offers.
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Makena Surf #G-301
Makena
$5.395M (FS) |
Direct oceanfront, sandy beach location with South shore and outer island views. This spacious 2,678 sq ft highly sought after luxury condo is a double unit with 5 beds and 5 baths. Enjoy gorgeous Makena coast line and ocean views from the living room, kitchen, dining and private master suite.
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Vacation Condos Under $1M
Hale Kai #115
Napili
$389K (FS) |
Wonderfully remodeled 1 bed, 1 bath unit with tile flooring, tumbled travertine countertops and imperial plaster walls and ceiling is a real gem. Enjoy watching spectacular sunsets and breaching whales from your lanai. This ground floor unit is steps away from the beach and pool.
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Hale Kamaole #325
Kihei
$565K (FS) |
Gorgeous ocean views. This classic 2 bed, 2 bath Hale Kamaole unit is located on the 3rd floor and is an end unit that boasts sunset views from the living room windows as well as the large covered lanai. With brand new carpet just installed, this Hale Kamaole original is just waiting for your personal touch and upgrade!
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Kihei Beach #109
Kihei
$728K (FS) |
This 2 bed, 2 bath ground floor location on North Kihei's most desirable beach, Sugar Beach. Step out your door and you are right there for a 5 mile beach walk, whale watching and fantastic sunsets. This is the perfect location at Kihei Beach, away from the pool area, close to the BBQ. The ocean views from the master bedroom are unreal.
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Mahana #215
Napili
$969K (FS) |
Direct oceanfront, highly desirable 1 bed, 2 bath floor plan. This second floor location is phenomenal, close to the ocean with no view obstruction. This unit has been upgraded impeccably. The kitchen and both bathrooms have been completely redone with great craftsmanship.
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Residential Condos
Harbor Lights #B-114
Kahului
$125K (FS) |
This 2 bed, 1.5 bath downstairs unit in the "B" building featuring remodeled kitchen, remodeled bathrooms with new vanities and new shower tiled from top to bottom. Unit has been freshly repainted and has new laminate flooring throughout.
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Napili Villas #1/5
Napili
$545K (FS) |
Ocean view from living room and lanai. Napili Villas is a quiet residential condominium located close to shopping, golf courses and restaurants. Clean, new carpet and move in ready. Low maintenance fees. There are two assigned parking spaces and the unit is very close to visitor parking. Pets friendly complex. Large green space.
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Kai Ani Villages #12-202
Kihei
$549K (FS) |
Desired location in the heart of Kihei. This 2 bed, 2 bath plus loft unit is 1,306 sq ft , stainless appliance, marble counters, tiled kitchen and baths with carpet throughout. Loft is ideal for office, media room or bedroom, Unit comes with a one car garage and an uncovered parking stall.
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Opukea at Lahaina #G-201
Lahaina
$589,145 (FS) |
Large 3 bed, 2 bath end unit with 4 extra windows. This is a second floor single level unit in a great location.
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Vacant Land
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