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Market Update
It's hard to deny the influence and impact Canadian buyers have had on Maui's Real Estate market. During the past year we've seen droves of Canadian buyers taking advantage of the opportunity to purchase Maui Real Estate at bargain prices.
If you've been following the news lately, you've probably heard of the Keystone XL Pipeline—a proposed 1,700 mile oil pipeline that would originate in Alberta, Canada, traverse six states across the U.S. heartland, and conclude in Texas on the Gulf Coast.
Whether or not the Keystone XL is built, we anticipate Canadian buyers will continue to have a significant impact on Maui's Real Estate market in the years to come. The last time the Canadian dollar was this strong (in the 1970's), Canadians began buying and building Kihei. Nearly 70% of Kihei condos were built by Canadians investors. Is this time around any different? Yes it is. This time around, Canada's economy is even stronger. The Alberta Oil Sands are sending large economic waves throughout Canada's economy.
So whether it's the U.S. or China that ultimately becomes the largest purchaser of Canadian Oil, demand will continue to grow, and in effect so will supply (especially as the technology for extracting this type of extra heavy oil advances).
In conclusion: Canadian investors will play a large role in the future of Maui Real Estate. What's your take on where future buyers and developers of Maui Real Estate will come from?
Have a wonderful week,
The Smith Team
P.S. Case in point. Are you familiar with Honua Kai, Maui's newest resort? Honua Kai was developed by Intrawest, a Vancouver, British Columbia based company and built by Ledcor, a Canadian based construction company. And guess who's buying Honua Kai? You guessed it. According to this article in the Vancouver Sun, about 25% of buyers have come from Canada.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for September 5th, 2011
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Active |
Pending |
Sold |
Change |
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Homes |
703 (255) |
243 (27) |
851 (112) |
-4 |
|
Condos |
1004 (176) |
213 (9) |
1155 (109) |
-3 |
|
Land |
507 (110) |
24 (7) |
128 (16) |
-5 |
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Total |
2214 (551) |
480 (43) |
2134 (237) |
-12 |
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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
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226 Keoawa Street
Kapalua
$3.995M (FS)
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Spectacular new 6-acre Honolua Ridge agricultural compound featuring incredible panoramic ocean views.
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Homes Under $1M
2740 Liholani Street #10
Pukalani
$307.5K (FS) |
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Bank Owned. Charming home located at the top of the street in this quaint subdivision known as Liholani Golf Village & #10 is on the golf course side. Expanded back deck makes for great outdoor living. Solar hot water heater.
Customer Listing Synopsis
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118 Anamuli Street
Kahului
$390K (FS)
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Approved Short Sale. Large two story home located in Maui Lani subdivision.
Customer Listing Synopsis
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2222 Kamaile Street
Wailuku
$577.2K (FS) |
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Bank Owned. Great 2 bd. 2 bath cottage on over 2.5 acres with ocean and mountain views. Located in Wailuku Country Estates.
Customer Listing Synopsis
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894 Pulehu Road
Kula
$599K (FS) |
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This turn-key two-story cottage located in Lower Kula is in very good shape, it has 2 bedrooms and 2 bathrooms, and a living area of 720 square feet. Creative usage of decks affords many opportunities to enjoy the panoramic ocean view while taking in the cool trade winds. This is a very unique property with two lots separated by a deep dry gulch that adds privacy between the vacant lot and cottage. Each lot has great unobstructed bi-coastal (180 degree) ocean views and mountain views of Haleakala.
Agent Listing Synopsis
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369 Kuikahi Drive
Wailuku
$650K (FS) |
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Beautiful bi-coastal views can be enjoyed from the spacious deck and lovely gazebo of this very well built home in Wailuku Heights. From it's monier tile roof to the redwood and stucco exterior this custom built home exemplifies quality and excellent design. The interior has a great floor plan with a fire place in the living room and open and airy dining & kitchen area along with the wet bar.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Makena Surf B-206
Makena
$2.285M (FS)
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Panoramic Ocean Views! The "B" Building sits behind the sandy beach, and commands the highest rental income. This low density complex has two sets of tennis courts, two pools and spas, an herb garden, and offers a tranquil setting away from the more active Wailea hotel strip.
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Vacation Condos Under $1M
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Maui Kai #503
Honokowai
$299K (FS)
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The fabulous direct ocean views from this great vacation rental condo will amaze you. Maui Kai 503 is located on the north end of the world famous Ka'anapali Beach and is walking distance to shopping and restaurants. You love the year round sunsets and beautiful Molokai and Lanai Island views.
Customer Listing Synopsis
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Pacific Shores B-306
Kihei
$314.9K (FS)
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Great ocean views from this completely remodeled 2 bedroom / 2 bath unit at Pacific Shores. This unit is upgraded with beautiful hardwood cabinets, granite counter tops throughout, bamboo flooring in bedrooms, stainless steel appliances, and tile flooring.
Agent Listing Synopsis
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Palms at Wailea #602
Wailea
$609.9K (FS) |
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Bank Owned. This 2 bd. 2 bath has a 1,299 sq. ft. interior that is the largest floor plan available at this complex. Great Location is a short drive to the best beaches in South Maui, The Shops at Wailea, and many magnificent restaurants and golf courses in Wailea and Kihei making this an awesome place to live and a desirable vacation rental.
Customer Listing Synopsis
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Residential Condos
Iao Parkside 26-104
Wailuku
$139.9K (FS) |
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Short Sale. Great opportunity for first time home buyer or investor. This 2 bd. 2 bath has laminate flooring throughout with upgraded kitchen. Cute yard in back has nice mountain view.
Customer Listing Synopsis
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Milo Court #84
Wailuku
$347.99K (FS)
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Just released phase 3. Outstanding value for a brand new duplex style town home here in Wailuku Town, provides you with an open floor plan which includes 3 bedrooms and 2.5 baths, 2 car garage, and privately fenced backyard.
Customer Listing Synopsis
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Vacant Land
120 Kumu Niu Place B
Lahaina
$199K (FS) |
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Short Sale. Panoramic ocean views and mountain views from every angle and a beautiful view of the Island of Lanai. This very private .885 acre lot is located at the end of a cul de sac and is ready to build your 1,000 sq. ft. ohana. This property needs to be purchased along with the existing 1,000 sq. ft. home on 1.13 acres (Limited Common Element A) directly adjacent subject property.
Customer Listing Synopsis
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