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 1066 August 8th, 2023


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 (3)
New Properties 
Price Reductions  

Short Sales

New Properties

Price Reductions 

 North Shore
   400 Mehana   

400 Mehana Road

$15.9M (FS)

2023 Mid-Year Market Insights

As we cross the midpoint of 2023, the Hawaii real estate landscape continues to adapt to higher mortgage rates and tighter inventory levels. While the year started off sluggish due to a spike in mortgage interest rates that edged out many prospective buyers, the market has since shown signs of rebounding. 

A tight supply of available homes for sale throughout the first six months of the year has continued to put pressure on the market, supporting near-record-high prices for single-family homes and condos. With so few homes for sale across the islands, sellers remain in control of the market. However, properties that are priced too high or do not present well are seeing an increase in days on market and multiple price adjustments.

Despite these headwinds, the luxury market has demonstrated resilience, maintaining its strength with steady demand from high-end buyers. The upper-tier properties continue to allure buyers, showcasing Hawaii's perpetual appeal to those seeking the pinnacle of paradise living.

Looking ahead, buyers are beginning to adjust to the reality of higher mortgage interest rates. This shift in buyer sentiment could bode well for market stability and resilience in the coming months. As a result, we anticipate sales activity to moderately increase through the end of the year as the Hawaii real estate market remains robust and adaptive, ready to navigate through the ever-evolving economic conditions.

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For more information about a specific neighborhood, condo complex, or the current value of your home, please contact me at any time.

Mahalo Nui Loa,

Ken Smith R(S), Melissa Smith R(B), Gregory Smith R(B) 

The Smith Team

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Market Watch
230 (195)
113 (79)
814 (483)
218 (111)
190 (104)
1038 (358)
127 (63)
 38 (9)
194 (58)
575 (369)
341 (192)
2046 (899)
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

66 Kupaloke
66 Kupaloke Street
$1.196M (FS)
This brand new & move in ready home Full landscaping with irrigation package! This home comes with fully upgraded kitchen appliance package to include refrigerator and washer & dryer. There is luxury vinyl plank floor and vaulted ceiling in the second-floor great room, oversized dual glazed vinyl windows, and many more upgrade features for your daily enjoyment.
3230 Pikai
3230 Pikai Way
$2.5M (FS)
Single level living in the highly sought-after “Little Kai” gated neighborhood. This 3 bedroom 3.5 bath home has had several updates over the past few years and enjoys a large pool with a relaxing lanai area. The delightful gated courtyard entrance and lush landscaping with numerous palms gives this home a true Hawaiian feel.
1180 Halepaka
1180 Halepaka Place
$2.849M (FS)
A charming property featuring 4 bedroom, 4 bath main home and an attached 1/1 ohana. This property is nestled on a quiet cul-de-sac allowing for privacy plus serenity, all while being within minutes from all that Lahaina has to offer. This home offers a flexible layout and design, making it a perfect family home.

Homes Under $1M

3305 Laulima
3305 Laulima Lane
$785K (FS)
This stunning real estate listing features a lovely 2 bedroom, 2 bathroom CPR home, detached laundry room and shed for additional storage located in the Upcountry of Maui. With breathtaking mountain views, this property offers a serene and picturesque setting. The house has been fully renovated, ensuring a modern and comfortable living space.
 120 Eleu 
120 Eleu Place
$849K (FS)
Your personal touch is needed in your tropical oasis. Large trees provide shade so people may meander through the yard and take in the expansive garden. A good place to sit and unwind from the hustle and bustle is in your peaceful backyard with views of Haleakala. This 2 bedroom, 2 bathroom house with a detached.
686 Onipaa Place
$915K (FS)
Beautifully remodeled 3 bedroom, 1 bathroom home located in peaceful Makawao town. This home boasts a fully fenced-in green grass yard that’s usable in the front and back of the home. It also provides lots of great storage areas. Enjoy the country views as you sit on the deck outside or cuddle up next to the warmth of the fire pit. 

Vacation Condos Over $1M

 Maui Parkshore 
Maui Parkshore 114
$1.1M (FS)
This is a must see ground level vacation rental unit.  Across the street from Kamaole three beach park. A short drive from the Shops at Wailea and many restaurants, bars, shopping and golf courses. Updated in 2016. The only listing available in the complex at time of listing and the least expensive two bedroom.
Kapalua Ridge
Kapalua Ridge 1114
$1.6M (FS)
Great ocean views from this 1 bedroom, 2 bath villa complimented by a coastal decor with a Kapalua vibe. Upper windows have been changed to glass to allow for maximum light. Bathroom showers have been upgraded. Newer appliances. Murphy bed in living room for your guests to enjoy. Private lanai and it is fully furnished. 
Wailea Ekahi
Wailea Ekahi 49-A
$1.85M (FS)
This charming and remodeled 1 bed 2 bath unit,  awaits you in the highly sought-after Wailea Ekahi III. Embrace the true essence of Hawai'i as you relax on your private patio and enjoy breathtaking ocean views amidst your own serene garden. Inside, you'll be delighted by the recent upgrades and renovations completed in 2020.

Vacation Condos Under $1M

Kihei Akahi
Kihei Akahi D-G01
$650K (FS)
This studio offers a fantastic opportunity to own a slice of paradise in South Maui. As you step into this cozy studio, you'll be greeted by an inviting and well-designed space. The open floor plan seamlessly integrates the living, dining, and sleeping areas, maximizing the available space and offering versatility in furnishing options.The studio is tastefully decorated and features modern finishes, creating a contemporary coastal vibe. 
Koa Kai
Koa Kai 10-A
$775K (FS)
This beautifully remodeled and tastefully furnished unit in the heart of Kihei is what you are searching for. Enjoy the cool trade winds, ocean views, and heavenly sunsets from your slice of paradise. Koa Kai is a boutique property with only 18 units and offers a pool.
Kihei Kai Nani
Kihei Kai Nani 4-319
$789K (FS)
Unit is situated away from the road and is a very Peaceful, private and quiet corner 1 bedroom 1 bathroom with extra storage cabinets on lanai. You are near some of the finest beaches in the world. Kihei Kai Nani complex is located directly across the street from Kamaole Beach Park II and is conveniently located in the heart of Kihei Maui.

Residential Condos Over $1M

Papali Wailea
Papali Wailea 10
$4.6M (FS)
Rarely available, this 3 bedroom, 3.5 bath single level residence is exceptional in every way. Papali’s brilliant design and architecture, sets this community apart and is one of the most exclusive, and sought after gated communities on Maui. Residence 10 features three en-suite bedrooms each with their own lanai.

Residential Condos Under $1M

Maui Lani Terraces E-102
$499.9K (FS)
Step into this fully remodeled unit at Maui Lani Terrace, and relax with a peek a boo view of the ocean. Located in the near middle of the complex unit sits in a location to let you enjoy the unit while watching the day go by. 
Haleakala Gardens 19-H
$649K (FS)
A rare 3 bedroom 2 bath condo in Kihei walking distance to beach. Haleakala Gardens is a favorite project for it's sprawling grounds, plenty of parking and close proximity to the beach. Enjoy no one above you in this 2nd floor unit with vaulted ceilings. newer carpet and vinyl flooring. Flooring and baths were updated in 2021. 
Villas at Kahana Ridge
Villas at Kahana Ridge 831
$728K (FS)
A very spacious unit with high-vaulted ceilings and a open-space floor plan. The fresh paint and brand-new Mink Aire drop-down ceiling fans in all the rooms gives the place a "beach" feel. Being a corner unit, the prime on-suite has extra large windows bringing in light and the mountain breeze. 

Vacant Land

1771 Piihana
1771 Piihana Road
$225K (FS)
The property is within the project district. No building permits will be issued until conditions has been met. Buyer is encouraged to do own due diligence. TMK 2-3-4-32-28 is included with the sale which consists of 6727 sq. ft. of lot. Each TMK entitles one water meter. One of water meter was approved, but are not paid yet. Partial of the lot is within the Flood Plain Easement.
37 Alohi Pl
37 Alohi Place Unit B
$345K (FS)
Big Views from this elevated 3,681 SF CPR lot close to Pukalani town center and community pool. Permits have been submitted for plans of a 719 SF living area with 177 SF lanai and 464 SF carport and are included with the purchase of the vacant lot.

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

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