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Issue 1103 May 21st, 2024


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 
Condos (4)
Land (2)
New Properties 
Price Reductions  

Short Sales

New Properties

Price Reductions 

  Charming Oceanfront Home and Cottage feature
519 Hana Highway 

$6.95M (FS)

Thinking of Buyer or Selling a  Vacation Condo on Maui

If you follow our Newsletters or listen to the news coming out of Maui, you are aware that the Mayor has publicly stated that he wants to shut down short term rentals. More specifically, he is referring to the over 7000 units that are in Apartment Zoned Districts and legally entitled to do short term rentals. Please refer to the Minatoya List to see which ones would be affected. Condos with Hotel/Resort zoning would not be affected.
When thinking about this, I am reminded of the song, "Bridge Over Troubled Water" by Simon and Garfunkel which was one of the most popular songs of the 20th century and was also recorded by many other singers.
We think this is very apropos for the situation we find ourselves in right now. If you own one of these condos that would be affected, you should be rightfully concerned, and especially so, if you use it as a short term rental.
So what should you do? Of course, every situation is different, and certainly we cannot be 100% certain about the outcome. We can tell you that many owners have decided to sell now rather than deal with the uncertainty of what lies ahead.
So, our recommendation for Sellers who don't have to sell now is to wait, but, of course, that is a decision only you can make. There is, of course, the risk that the market might fall 20% or more before this situation resolves itself. If you do want to sell now, it is our opinion that you will have to get ahead of the market and be willing to take less than what you could have gotten just a few weeks ago before Mayor Bissen's pronouncement.
Let's put things into perspective. On May 1st there were 520 condos for sale.  Today, that number is at 597 which was up from 370 at the beginning of January. We wouldn't call it a stampede to sell, but the numbers show a consistent trend of more condos available for purchase. The increase in inventory means more competition between sellers, and potentially, better deals for buyers. So, if you are considering purchasing, there may be some excellent opportunities ahead if you are quick to act and willing to take on the incumbent risk of market fluctuations. Please check out some of the properties we have identified as being worthy of consideration.
Here is hoping we make it across that "Bridge Over Troubled Water" unscathed or at least with our wits intact. We are definitely living during interesting times.
As always, we wish you all the best for health, happiness, and prosperity.
Mahalo Nui Loa,

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

The Smith Team

P.S. We are so very proud of Ruby Kofron, who is Ken's granddaughter and Melissa and Greg's niece for the 2 outstanding awards she received recently during Seabury Hall Assembly on May, 16, 2024. Go to 15:30 and 1:50.30 minute marks to see Ruby receive her two well-deserved awards. Congratulations Ruby and best of luck as you embark on new exciting educational opportunities next year at Colorado College. We know you will do equally well there as you have done at Seabury Hall. As Ruby leaves her sister, Zella, behind, who is a star in her own right, two of Melissa and Greg's girls (Waiaulia and Kailani) will be following in her footsteps.
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Market Watch
274 (236)
147 (113)
759 (510)
597 (299)
101 (54)
989 (389)
180 (84)
 30 (6)
184 (80)
1051 (619)
278 (173)
1932 (979)
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

112 Pekelo Pl
112 Pekelo Place
$1.586M (FS)
This amazing spot combines the allure of a stunning 180-degree ocean view with the tranquility of a lush tropical garden, complete with orchids, ferns, cascading waterfalls, and serene koi ponds designed and cared for by Sindu. This home has had various upgrades over the years, including solar hot water, a den added (with permits) that could easily be used as a 4th bedroom, as well as other upgrades.
  1310 Olinda Rd  
1310 Olinda Road

$1.9M (FS)
Experience upcountry living at its finest! Makawao, offers over 2 acres of serene landscapes with two detached 3 bedroom, 2 bath houses, plenty of space for additional construction, and untouched acreage for your country dreams. The main house, a Lindal Cedar Home, features expansive windows framing ocean and West Maui Mountain views.
135 Makana Rd135 Makana Road 
$2.398M (FS)
The lovely setting on 6.05 acres with ocean views, with solid structures includes a 4 bedroom, 3 bath home with large family kitchen, 2 living rooms with fireplaces, 2 "family rooms", as well as a 3 car garage. There is an open field of about 2 acres separating the main house from a covered arena, stables area and open arena, providing income potential. Built in 1985 this property was loved by the owners. We hope you will find that it touches your heart.

Homes Under $1M

1015 E Kuiaha
1015 East Kuiaha Road
$799K (FS)
This property is only 1 minute from the nearest grocery store and gas station, 6 minutes to Haiku town, 8 minutes to Makawao town, and 24 minutes to Kahului, blending convenience with the tranquility of country living. Spanning 2.253 pristine acres in the perfect Haiku climate known for its gentle trade winds, this property offers boundless possibilities for transformation. 
317 High St
317 High Street
$875K (FS)
This bright, airy home features an open floor plan with high ceilings and classic double-hung windows, showing the unique charm and craftsmanship of a traditional Hawaiian plantation home. Modern upgrades blend seamlessly with historic charm, including a state-of-the-art photovoltaic system and efficient split wall A/C, ensuring comfort while preserving the home's character. 
21 S Papa Ave
21 South Papa Avenue
$920K (FS)
This 3 bedroom, 1 bathroom single-level home is situated on a spacious 9,420 sq. ft. lot, featuring a 240 sq. ft. two-vehicle carport. This property offers both accessibility and potential. The backyard is adorned with a large mango tree, adding to the home's appeal. Please note that the property requires some TLC, presenting an excellent opportunity for customization and improvement.
19 Poniu Cir
19 Poniu Circle
$929K (FS)
With a bright, open single story floor plan this 3 bedroom, 2 bath home in the serene Kaimana at Kehalani neighborhood won’t last long! Spanning 1,185 square feet, this home welcomes you into a spacious great room that is illuminated with natural light. The home has brand new flooring, lighting and freshly painted, creating a fresh and clean space.
71 Lower Waiehu Beach
71 Lower Waiehu Beach Road 
$995K (FS)
This home has updating and lives much bigger with some extra features including a separate laundry area and full bathroom off of the carport. There is also a useful spacious walk-in storage room. A door in the living room opens to a sidewalk leading to the large and private backyard that has beautiful custom fencing, a retaining wall, a large covered lanai, and flat lawn - plenty of space for al fresco dining, entertaining, and play on this green backyard. 

Vacation Condos Over $1M

Wailea Ekahi
Wailea Ekahi 26-B
$1.35M (FS)
Spacious 1 bedroom, 2 bathroom condominium located on the ground floor. Its expansive floor plan and lanai seamlessly connect to the lush grassy lawn, creating a serene island retreat. Large windows fill interiors with an abundance of natural light, while jalousie windows throughout invite in the refreshing Maui trade winds.
Grand Champions
Grand Champions 51
$1.45M (FS)
This spacious 2 bedroom end-unit has ocean views from the lanai as well as the primary suite while offering privacy and tranquility among the lush tropical landscaping. Immaculate condition and beautifully appointed throughout with new stylish modern decor, luxury vinyl-plank flooring, light fixtures, and ceiling fans.
Palms at Wailea
Palms at Wailea 1101
$1.975M (FS)
With expansive ocean views throughout the unit and large lanai, you can enjoy all the rare beauty and breathtaking sunsets that Maui has to offer. A rare opportunity, this unit is being offered fully furnished, with appliances, and all inventory. For convenience, it comes with a designated parking stall, steps from the unit.
Wailea Elua
Wailea Elua 2102
$2.9M (FS)
This is your chance to own a piece of paradise at an incredible value with this bankruptcy sale. This beautifully appointed 1 bedroom with a bonus room, 2 bath condominium boasts central A/C, luxurious marble in the bathrooms, and granite kitchen countertops, among other upscale features. Step into elegance and comfort with stunning ocean views from your own slice of Maui.

Vacation Condos Under $1M

Kihei Bay Surf 2
Kihei Bay Surf 150
$499K (FS)
This ground level studio apt. is ready to welcome you or your guests in style. Situated on the shady side of the complex and away from road noise, Apt 150 comes furnished turn-key so you can move right in or continue hosting guests from all over the world. Kihei Bay Surf is located directly across the Kalepolepo Beach Park and offers a huge pool, spa, BBQs tennis courts community coin laundry. 
 Papakea Resort 
Papakea Resort D-101
$725K (FS)
Enjoy resort style living within the beautifully landscaped grounds of Papakea Oceanfront Resort. Fee simple, turnkey, fully furnished, and affordably priced. Plenty of upside potential for the next owner to add their own special touches. You’ll immediately enjoy the recent upgrades to all the furnishings within this “no stairs”, air conditioned unit.
Kihei Resort
Kihei Resort 216-F
$839K (FS)
A beautifully renovated 2 bedroom, 2 bathroom condo that offers a true tropical oasis experience. Fully furnished and updated in 2019, this unit features high vaulted ceilings and air conditioning in every room for ultimate comfort.  Enjoy the beautifully landscaped grounds, complete with a pool, spa, and BBQ area, perfect for entertaining or relaxing. 
Kihei Garden Estates
Kihei Garden Estates G-203
$995K (FS)
This bright and airy loft-style condo has plenty of windows creating a perfect amount of natural light, highlighting the vaulted ceilings and open, two-story design. The generous lanai provides a perfect backdrop for relaxation or entertaining while taking in the ocean view. Indulge yourself in the nearby restaurants and shops.

Residential Condos Over $1M

Keala O Wailea
Keala O Wailea 1-201
$2.895M (FS)
Exceptional 3/2 corner unit with arguably one of the most commanding ocean and outer island views found in Wailea for luxury residential condo living. For the discerning buyer who believes prime location is paramount, this condo's positioning and layout affords maximum privacy and pinnacle views within the complex overlooking the Wailea Blue, hole #4 water features. 

Residential Condos Under $1M

Wailea Elua
Puuone Gardens 25
$247K (FS)
This 270 sq. ft. studio apartment is an excellent opportunity for first-time homebuyers or investors. While it requires TLC, the unit includes one parking stall directly in front. Residents will appreciate the reasonable maintenance fees and the convenience of on-site laundry facilities. Ideally located near Baldwin High School, Keopuolani Regional Park, and Kaahumanu Shopping Center, this unit offers both practicality and potential. 
Puuone Hale Alii
Puuone Hale Alii 202

$365K (FS)
Convenient living, one flight of stairs, parking in front of your unit with washer and dryer off the kitchen and right in Central Maui. Come see and agree with me that you'll like this unit.
Kihei Villages
Kihei Villages 51-202
$598K (FS)
Welcome to this well maintained 2 bedroom 1.5 bathroom upper level condo at Kihei Villages. The updated kitchen appliances, wood cabinetry, and countertops provide an enjoyable space for your culinary desires. Function follows with an intelligently laid out kitchen nook for additional workspace. Benefit from the lanai and outdoor space while enjoying your favorite beverage from the comfort of your home. 

Vacant Land

9300 Kula
9300 Kula Highway 
$975K (FS)
Beautiful 5.6 acre parcel in Keokea with bi-coastal and down-country views. For those familiar with Keokea, you already know that the climate here is hard to beat. Multiple possibilities for building sites. There is a new crusher waste road going through the property which makes it easy to walk. This is a great place to raise animals, fruit trees and/or a vegetable garden. 

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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