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Aloha ,
Market Update
The National Flood Insurance was created by Congress in 1968 where flood insurance claims were to be paid through.
If you are purchasing a home, building, or condo and obtaining financing that is federally insured, then you are required to obtain flood insurance if your property is located in a mandatory zone. The 2 mandatory flood zones are the A and V zones. The A zone is an area with shallow flooding is possible (medium premium) and the V zone is an area where a storm surge is possible (high premium).
Flood insurance premiums are calculated by the flood zone, construction type of home, and age of construction.
Premiums will increase an average of 10 % for policies written or renewed on or after October 1, 2013. You will now have to order an elevation certificate to calculate the new flood premium if you are within one of the two mandatory flood zones. This certificate is obtained from a certified surveyor and it costs from $500 to $2,000. Let us know if you need a licensed surveyor recommendation here on Maui. Read More.
Mahalo Nui Loa,
Melissa for The Smith Team
Ken, Melissa, Greg, and Jeremy
P.S. - The Realtor Association of Maui is holding the 2nd Annual RAM's Got Talent Show on Saturday, February 15th at the Iao Theater in Wailuku. Proceeds will go to the RAM Scholarship Fund which gives scholarship money to high school students going to college.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for February 11th, 2014
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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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571 (293)
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203 (31)
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981 (177)
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NC |
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Condos
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748 (180)
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239 (24)
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1372 (180)
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+3 |
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Land
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368 (116)
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39 (6)
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225 (29)
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-3
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Total
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1687 (589)
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481 (61)
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2578 (386)
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NC
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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
35 Leihulu Way
Kula
$1.19M (FS)
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Bi-coastal ocean, West Maui and Haleakala views can be seen from all angles of this home. Enjoy a low maintenance lifestyle in this well thought-out, efficient home.
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42 Puu Hale Street
Ka'anapali
$1.295M
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Short Sale. This 2,897 sq. ft. 3 bd. 3.5 bath home is built on one of the largest lots in the highly sought after Ka’anapali Hillside subdivision. The home features a custom designed gourmet kitchen with Sub-Zero refrigerator, gas Themador stove, and granite counter tops.
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115 Hanipala Place
Kula
$1.38M (FS)
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Breathtaking views from Molokini to Kahakuloa and the North Shore of Maui from this spectacular 4 bd. / 4.5 bath cedar home in lower Kula.
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Homes Under $1M
64 Kealaloa Avenue
Makawao
$510K (FS)
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Gorgeous mountain views from this well maintained 2,544 sq. ft. 4 bd. / 3.5 bath home with an open floor plan. Tucked away on a flag lot in a mature neighborhood.
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175 L Waiehu Beach Road
Wailuku
$554.5K (FS)
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Bank Owned. Unique property located across the ocean in an older neighborhood. As you come up the driveway, you will see all dwellings were designed so the living area is actually on the upper floors. Garages, laundry & storage rooms on 1st floor. Cottage is a 2 bd. / 1 bath, kitchen, living room, & bath with its own electric meter. Second dwelling is the main house.
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56 Keoneloa Street
Wailuku
$610K (FS)
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Simply elegant and less than one year new, this exceptionally built, 2 bd. / 2 bath custom designed home is located in the gated community of Sandhills Estates. Light, bright and open floor plan with vaulted ceilings.
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2690 Akalani Loop
Pukalani
$670K (FS)
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Struggling to find a home with a great ocean view at a reasonable price? Then you'll want to see this 3 bd. / 2 bath home in Pukalani.
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61 S Honokala Road
Haiku
$695K (FS)
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On top of Maui's North Shore is this private paradise. Enjoy the sweet tropical drive to a property perfectly situated on Honokala's ridge. This property's location hosts immense ocean views perfectly outlined with one of Maui's tropical forests.
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Vacation Condos Over $1M
Ho'olei H-6
Wailea
$2.795M (FS)
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Sit back and relax in this gorgeous 3 bd. / 3.5 bath Wailea town home. Villa H-6 has a fantastic location on the property, and is one of the closest units to the Ho'olei pool as well as the Grand Wailea Resort. The Ho’olei community represents a unique fusion of tropical beauty and island lifestyle unparalleled in South Maui. For those seeking the privacy of an upscale residence with the ease of a condominium.
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Vacation Condos Under $1M
Kihei Kai Nani #102
Kihei
$339K (FS)
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Rare ground floor unit with ocean views. Top to bottom remodel.
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Paki Maui #226
Honokowai
$435K (FS)
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This 2 bd. / 2 bath partial ocean view unit has been nicely remodeled and comes furnished.
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Hale Pau Hana #15
Kihei
$820K (FS)
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Short Sale. Rarely offered upper level 2nd floor end-unit in the two level low-rise section on the beach at Hale Pau Hana. This is an opportunity to own a front row unit on Kihei’s beautiful Kamaole Beach II.
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Residential Condos
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Hoolea Terrace #2703
Wailuku
$276K (FS)
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Developer Deal. Last Mountain facing building. For sale during the initial 30 days to owner occupants only. This downstairs 2 bedroom has the bonus of a storage closet and Kenmore appliance package with microwave hood and glass top stove. Under construction with expected March-April completion.
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Kai Ani Village 11-102
Kihei
$545K (FS)
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New and spacious green built 2 bd. / 2 bath ground floor unit at the desired Kai Ani Village. Open floor plan with 9" ceilings, granite counter tops, cherry wood cabinets, Whirlpool SS appliances, separate laundry room, ceramic floors in wet areas and hardwood floors, 3 split AC, tiled shower and tub walls, insulated, and fire sprinklers.
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Vacant Land
40 Waipulani Road
Haiku
$349.9 (FS)
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These 2.5 acres in a park like setting with 100 foot tall Eucalyptus trees on one side and a garden of coffee trees on the other side. Recently cleared, now you can walk the intermittent stream bed to get a vision for re-planting your fruit trees and ornamentals. There are two distinctly separate building sites, one for the main house at the intersection of Pakanu / Ulumalu / Waipulani and the other 400 feet up Waipulani.
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