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
About Maui Our Listings Property Search Rentals Blog Contact Us
 
Issue 992 Mar 8th, 2022
 
 

Aloha


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 (4)
Condos   
Land
New Properties 

Price Reductions 

Short Sales
Homes 

Condos 
Land (1)
New Properties

Price Reductions  

Exquisite Haiku Makai Estate

 116 Apuwai 2 

166 Aupwai Street
Haiku

$4.495M (FS)

Optimism & Maui's Continued Record-Breaking Streak

Maui County’s economic forecast exceeded expectations with the highest percentage of job growth in the state, according to last week’s report from the Hawaiʻi Department of Business, Economic Development and Tourism (DBEDT).

Maui County added 7,500 jobs, a 13.1% increase over the 4th quarter of 2020. Private building permits increased by 33.8% and visitor arrivals by air increased by 253.6%. The full state economic report is available HERE. The 4th quarter statistics were higher than predicted, resulting in the DBEDT raising the 1st quarter 2022 statewide economic growth forecast from 3% to 3.2%.

Optimism and growth can be seen in Maui’s real estate market, where record-breaking median home and condominium prices continue to be achieved. For single family homes, the median home price rose to $1.16M, up from $1.1M in January of this year, and for condos hit a new record high median of $730,500. With pressure on inventory and interest from out of state and international buyers, this momentum does not appear to be slowing down. 

On top of last week’s positive economic news, Governor David Ige announced today that the statewide indoor mask mandate will expire on March 25, 2022, along with the state’s program for domestic travel. This is big news as it marks the end of the state’s current emergency proclamation related to Covid-19 and a shift towards a more optimistic and confident perspective on the pandemic. For more information on these two important changes, check out the article in  Maui Now.

Mahalo Nui Loa,

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

The Smith Team

 

P.S. Congratulations to Maui Snowboarder, Evan Strong, who will be competing in his 3rd Winter Paraolympic games in Bejing. Learn more about his extraordinary career here.

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Market Watch
 
Active
Pending
Sold
Change
Homes
179 (156)
227 (131)
1345 (685)
+4
Condos
138 (69)
362 (157)
2356 (623)
-5
Land
105 (56)
 63 (13)
387 (115)
-4
Total
422 (281)
652 (301)
4088 (1423)
-5
 
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

3014 Kekaulike
3014 Kekaulike Avenue
Kula

$2.495M (FS)
What a unique property with 4 permitted buildings. This is not your customary house plus ohana situation. This property had two full-sized homes and 2 accessory dwellings. Located in upper Kula, the home sits above Kekaulike Ave in a beautiful park-like setting with lots of fruit trees. There are beautiful panoramic ocean and mountain views from this property.
 
8 Manu Ihu
8 Manu Ihu Place
Wailea

$2.175M (FS)
This charming single-level, Wailea Kai home has open-beam ceilings and a comfortable casual lay-out. A short walk to one of Maui's most romantic beaches, Keawakapu, this 3bd/4ba, meticulously maintained home will not disappoint. There are recent upgrades plus a bonus room – perfect for exercise, office or your favorite house guest.
 
 2766 Puu Hoolai 
2766 Puu Hoolai Street
Kihei

$1.050M (FS)
Located in desirable South Kihei and adjacent to Wailea Resort, this large 4bd/3ba, 2,139sqft home has a lot of potential for the buyer who is interested in a complete renovation project. The yard wraps around the entire property and has the wonderful potential to become a beautiful, tropical oasis.
 

Homes Under $1M

101 Hooheno st
101 Hooheno Street
Kahului 

$949K (FS)

Come see this 3bd/2.5ba home located in the popular Legends at Maui Lani. Two bedrooms are on the second floor, while the primary bedroom is located on the main level. Upstairs, you will find an additional seating area that could be converted into a 4th bedroom, and a drop zone which can double as an office. The backyard is fully fenced with mature landscaping that adds privacy and is easily maintained with an automatic irrigation system.

Customer Listing Synopsis

317 Niihau St
317 Niihau Street 
Kahului

$929K (FS)
This central Maui home is being sold as is and comes with two electric meters. The hollow-tile exterior of the property is in great condition and is the perfect shell for an interior cosmetic make-over. Currently, the home is divided into 3 units (3/1, 2/1, 1/1) and a detached ohana with 2/1, perfect for extended family or as a rental income property.
 

Customer Listing Synopsis
324 Puunene
324 Puunene Avenue
Kahului

$850,500 (FS)

This central Maui home has so much potential and is just waiting for your final touch. The property is designed with multiple living configurations and is a low maintenance yard. Situated in central Kahului, it is close to schools, medical facilities and numerous restaurants.


 

Customer Listing Synopsis

Vacation Condos Over $1M

Puamana-2
Puamana #64-3/4
Lahaina

$5.5M (FS)
Puamana 64-2 & 3 offers a one-of-a-kind opportunity to own two beautiful adjoining ocean-view town homes. These condos combine to create a total of 6 bedrooms, 6 baths, 2 full kitchens, 2 living rooms, 2 laundry rooms-all in a premier location on the green belt next to the Historic Puamana Clubhouse.
 
Ekolu-102
Wailea Ekolu #102
Wailea

$1.794,888 (FS)

Here's a beautifully remodeled 2bd/2ba upstairs vacation unit with spectacular ocean and sunset views that will amaze you night after night. Tastefully decorated and cared for as a second home, the unit has not been rented since it was tastefully remodeled in 2017.

Wailea Palms-1906
Wailea Palms #1906
Wailea

$1.47M (FS)
Looking for an incredible income-producing vacation condo? Here it is. In 2021, unit #1906 grossed $123k. The condo is self-managed and has a full schedule of future bookings for you to absorb upon closing. Renovated in 2019, and still in perfect condition, with soft white hues throughout to pull in the beautiful greenery outside where every window acts as "living art." 

Vacation Condos Under $1M

Island surf-512
Island Surf #512
Kihei

$950K (FS)
Here's a sought after, unobstructed ocean-view 2bd/2ba condo with lockout rental capabilities and phenomenal location. Across from Kalama Park, the Cove and the famous Charley Young Beach- all just a short stroll from your door. You can walk to restaurants, shopping, grocery stores, entertainment, movies, and a myriad of other conveniences within a two-block radius.
MV-3402
Maui Vista #3402
Kihei

$859K (FS)

Maui Vista is a lovely property located immediately across South Kihei Rd. from Kihei’s revered Charlie Young Beach and Kamaole Beach One. This pastoral property has numerous pools, tennis & BBQ facilities, and ample parking to meet the needs of all owners. Unit 3402 is an upgraded ocean and outer island view 2bd/2ba unit with elevator access, a stucco exterior & a Monier tile roof. 

Customer Listing Synopsis
Video Tour

Kihei Kai Nani-13-231
Kihei Kai Nani #13-231
Kihei

$595K (FS)
Welcome to this beautiful totally renovated vacation-rentable 1bd/1ba 2nd floor condo with nobody above you, South Kihei's marvelous sandy beaches within walking distance. This peaceful end unit has extra windows for natural light and air flow, plus good ocean views and tropical foliage around it. It is completely turn-key ready and tastefully furnished with everything you need to relax and have fun. The unit has an excellent rental history.
 
paki maui 217
Paki Maui I II #217
Napili

$525K (FS)

Relax and enjoy the view of the lush inner courtyard and the sounds of the waterfall while sitting on the lanai of unit 217 at Paki Maui. Located on the second floor, this 1bd/1ba unit has been remodeled and well maintained, with pride of ownership. Furniture and other decor items were upgraded in the past year. Paki Maui is located next to Honokowai Beach Park, and across from a farmers' market, small shops and restaurants.

Customer Listing Synopsis

Residential Condos Over $1M

Na Hale O Makena #C-402
Makena
$4M (FS)

Here's a lovely two-level, 2bd/2.5ba plus loft residence with amazing ocean and mountain views. This "boutique" complex consists of only 40 apartments on over 6 acres of lush landscaping. Each apartment has a covered parking stall and additional storage. Na Hale O Makena is within minutes of world-class beaches, golf, tennis, shopping and restaurants.

Customer Listing Synopsis
Video Tour

Residential Condos Under $1M

Iao Parkside III #29-104
Wailuku

$525K (FS)

Welcome to your little oasis in Wailuku. This 2bd/2ba unit has been remodeled and has a very open living area great for entertaining a few friends or family. The ground floor unit has a very private backyard surrounded by Lady Palms that will provide a great space to hang out and BBQ or read a book. The unit is pet friendly, has 2 parking stalls, plus refuse, water, mail box and common area maintenance are included in HOA fees.

Customer Listing Synopsis

Puunene Ter 218
Puuone Terrace #218
Wailuku

$325K (FS)

Lovely ocean and mountain views are available from this charming 1bd/1ba residential unit in Wailuku. Perfectly located to take advantage of the Hawaii University Maui campus, or work opportunities in the business districts of Wailuku and Kahului towns, as well as easy access to Kaahumanu shopping mall and surf spots at the harbor nearby. This bright and newly renovated unit with tasteful upgrades throughout, is sure to delight. The maintenance fee includes "gas" for the stove.

Customer Listing Synopsis

Harbor Lights A121
Harbor Lights #A121
Kahului

$159K (FS)

This BANK OWNED property is located in Central Maui. It neighbors the University of Hawai’i Maui campus and the Maui Arts and Cultural Center. It is walking distance from Queen Kaahumanu Center, a short drive to Maui Memorial Hospital, schools, grocery stores, eateries, and movie theaters. It is approximately 15 minutes away from Kahului Airport. Harbor Light amenities include a pool and an outdoor lawn area. This unit awaits your restoration design.

Customer Listing Synopsis

 
Vacant Land
 
733 Honoala Road
Haiku

$799,900 (FS)

Diamond Valley is a unique immersion experience for all the senses in the setting of a tropical food forest with whimsical structures scattered throughout the property. The Tetrahedral house, designed & built by Stephen Wilmoth, the youngest of Frank Lloyd Wright's apprentices, was recognized as an artwork by the head of the National Endowment of the Arts. Here is a creative, off-grid, piece of paradise, complete with fast fiber-optic Internet connection. It's worth noting that the land improvements present do not match county records and that access to the property is undocumented via state land.

Customer Listing Synopsis
Video Tour

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

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