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Aloha ,
Market Update
So far this year, there is ample evidence that the market has cooled somewhat; however, there are still areas in the market that are hot. Let’s take a look at those areas.
As previously reported, homes under $500K are in great demand whether they are in good condition or fixer-uppers. Recapping, in this category, there are 70 Active, 76 pending, and 152 sold listings since the beginning of the year.
For condos under $500K, there are 354 Active, 119 Pending, and 456 Sold listings since the beginning of the year, not nearly as hot as the residential market for under $500K.
When we look at the high end, things are considerably slower, but there is one notable exception that we wanted to bring to your attention.
In the over $4 Million condo price category there are 21 Active Listings, 7 Pending Sales, and 6 Sold properties since the start of the year. So why is this an exception?
As we look deeper, we find that 6 of the Pending Sales are at the Montage Residences Kapalua Bay (Formerly the Kapalua Bay Hotel) and these listings went under contract within the first 30 days after coming to market. 2 of the 6 sales were also at the Montage Residences.
There are currently 3 Active Listings in the MLS at Montage Residences, but as soon as these sell, more inventory will be released. If you have an interest in learning more about this project, please email us, and we will be happy to provide you with floor plans, site map, and do our best to answer whatever other questions you might have.
I believe this is a fabulous opportunity to own a luxury condo directly on Kapalua Bay which has often earned honors as one of the best beaches in the world.
Have a wonderful week.
Mahalo Nui Loa,
Ken for The Smith Team
Ken, Melissa, Greg, and Jeremy
P.S. - There has been a great deal of talk and preparation concerning two hurricanes heading our way, Iselle and Julio. Iselle is scheduled to hit the Big Island sometime tomorrow afternoon with tropical storm winds and later on should impact us here on Maui. Click here to track the progress of the storm.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for August 5th, 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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559 (261)
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211 (29)
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957 (182)
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-13
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Condos
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781 (189)
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195 (22)
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1301 (188)
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-3
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Land
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386 (128)
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32 (3)
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214 (25)
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+2 |
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Total
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1726 (578)
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438 (54)
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2472 (395)
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-14
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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
14 Aekai Place
Kahana
$1.395M (FS)
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This spacious contemporary home is perfectly situated in a private, gated community of 21 residences. A stunning great room sweeps across the entire front of the home. Windows on all four sides, plus two large skylights positioned over the kitchen island, provide abundant natural light. The flooring is a luminous brush box eucalyptus. A glass-enclosed lanai stretches the length of the great room, opening up the ocean view beyond the community pool and tennis court.
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70 Hale Alii PlaceWailea
$2.095M (FS)
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Located in sought after Wailea Fairway Estates, this stunningly beautiful home is a residential work of art, with every detail designed to create an elegant yet comfortable lifestyle. Impressive landscaped grounds boast a sun drenched pool and spa, lush tropical plantings, ultimate privacy and a soothing waterfall. Just moments away from world renowned beaches and the incomparable Shops of Wailea, this architecturally designed home balances entertainment spaces with relaxed everyday amenities.
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Homes Under $1M
970 Noholani Street
Haiku
$175K (FS)
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Cash buyer needed. Bring your tools and imagination and recreate this 1918 plantation house.
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220 Oluea Circle
Kihei
$459K (FS)
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Bank Owned Auction. Convenient location just a block from the ocean and a little over a mile to grocery, shops, restaurants, elementary school and post office.
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15 Palauli Way
Kula
$675K (FS)
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Beautiful immaculate 3 bd. / 2 bath home in the desirable subdivision of Kulamanu. Home is located in a quiet cul-de-sac providing privacy with low traffic and is surrounded by many wooded trees.
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3418 Kuaua Place
Kihei
$980K (FS)
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Short Sale. Stunning ocean views from this tree-top Maui Meadows property. Sunsets to dazzle you all year long from the lanai and roof deck.
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18 Ohia Lehua Place
Pukalani
$999K (FS)
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Lovely single level home with great curb appeal and easy living floor plan. Wonderful Haleakala views from inside and out. Solidly built with stucco exterior and concrete tile roof. Circular driveway and port cochere. 2 car garage with workshop. Enter through the beautiful tall glass double doors and be wowed by this elegant 3 bd. 3 bath home with vaulted ceilings and lots of windows and sliding glass doors.
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Vacation Condos Over $1M
Montage Residences #2502
Kapalua
$4.25M (FS)
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Introducing Montage Residences Kapalua Bay. A truly one-of-a-kind opportunity to own along the West Maui shoreline, overlooking the white sandy crescent of Kapalua Bay, with panoramic ocean views framed by the neighboring islands of Molokai and Lanai. Located within the renowned Kapalua Resort, home to two championship golf courses, miles of hiking trails and an array of ocean activities. Montage Residences Kapalua Bay offers a rare opportunity to fully embrace the Montage lifestyle.
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Vacation Condos Under $1M
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Hale Wailana #201
Kihei
$375K (FS)
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2 bd. 2 bath condo located in a cozy, quiet, and private setting at Hale Wailana in Kihei. This low density property gives you a fantastic location away from the crowds and access to beach's less traveled, a walkers paradise with miles of beautiful sandy shoreline not to be missed.
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Ka'anapali Shores #544
Ka'anapali
$419.9K (FS)
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This unique 1 bd. 1 bath "D" suite is interior designer owned and is perched on the 5th floor of the beautiful Ka'anapali Shores Resort. It boasts a direct ocean view of Molokai, and overlooks the gardens and running stream below.
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Papakea G-207
Honokowai
$485K (FS)
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This 1 bd. condo has spectacular sunset and ocean views, overlooking the swimming pool and putting green. Papakea is a very popular resort property with three tennis courts, two putting greens, shuffleboard, two pools (one heated) two spas and lots of BBQ's.
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Residential Condos
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Villas at Kenolio 1F
Kihei
$369K (FS)
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Excellent opportunity for this ground floor 3 bd. 2 bathroom turnkey ready to move in condo, great North Kihei location with super close and easy proximity to all amenities, shopping, airport, golfing and of course our world class beaches.
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Ho'onanea at Lahaina #107
Lahaina
$499K (FS)
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Don't miss this opportunity to purchase a beautiful townhome in the heart of Lahaina! This townhome is immaculate in every way, beautiful finish work and upgraded flooring throughout. Open floor plan and kitchen features a bar area and stainless steel appliances. Separate dining area and then walk out onto the covered lanai and take in the views of the West Maui Mountains.
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Vacant Land
1601 Olinda Road
Olinda
$315K (FS)
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Probate Sale. This idyllic upcountry 2+ acre lot features fertile farm land with rich soil and built up garden beds. Mature fruit trees include avocado, papaya, citrus and bananas. Ideal location for nursery, farming, and soil composting. The lot was previously used as a working vegetable and soil farm. A house with an ocean view could easily be be situated on the high side and rear of the plot. The lot is located on Olinda Road in a private area with cool and comfortable 2800' altitude.
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