Tag Archives: maui real estate

March Newsletter

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Hansen Ohana’s Maui Newsletter March 1, 2021

Maui Luxury Real Estate LLC

 Aloha from Maui.  If you are missing Maui and the sound of the ocean waves on our beautiful beaches,check out our live beach cam (now with sound) on https://www.mauirealestate.net/video.php?Size=Large.  You might even catch a view of the magnificent whales which are active this time of year.

As most states are experiencing, the Maui real estate market is dynamite right now.  Low interest rates coupled with low inventory is moving the market higher.  Median home prices as of February 28, were up 19.8% since a year ago at $895,000.  On the other hand, condos almost unchanged from last year at $556,990.  Total inventory of homes went down from 517 last year to 214 now for homes Condos remained around 503. Months’ supply of inventory for homes went from 5.4 to 2.2. Condos months’ supply went up from 3.9 to 4.3.  Due to low interest rates the affordability index for condos increased from 67 to 72 but the home affordability index fell from 50 to 45 from last year. With continued low interest rates and low inventory, the market appears to be relatively stable in terms of pricing for properties on Maui.  One very interesting statistic for me is the percent of listing price realized which over the years has remained relatively similar in the 97% range. This means a million-dollar asking price on average would close at about $970,000.  Well priced properties may receive multiple offers.  Pending sales hit an all-time high of 826 properties under contract at the end of February.

Regarding Condominiums the average visitor spends $3,800 per person. On Vacation home rentals the average tourist spends $3,400 on Maui vs. hotel visitors spend around $2,900 per person.  Due to Covid19 restrictions on travel last year vacation rental income was down. This year the vacation rental market has been very busy and visitors are coming back.  People need to relax in a safe place with good weather and Maui is the place.  Coming to Maui is getting easier with Covid19 on its way out but there are reasonable restrictions.  Check the www.hawaiicovid19.comwebsite for more information.

If you’re interested in something new, there are quite a few projects in a variety of price ranges planned for the next 10 years across Maui. Last month we saw renderings of some workforce housing being conceptualized in Kapalua across from Pineapple Grill and another up for approval in South Maui across from The Five Palms.  In addition to that there is a project currently underway in Wailea.  The Wailea Hills developmentincludes75 units for sale in 15 separate buildings.  They have beautiful floorplans, many with gorgeous views, underground parking and good locations.  Prices start in the mid $1.8’s million and up and seem to be selling pretty steadily with approximately 70% now under contract.  If you would like to view them virtually please let us know at: dad@mauirealestate.net and we will send you the links.  In addition, there is an application for a Wailea Project consisting of 289 condos, 51 zero lot line homes, 92 duplex homes and 146 multi-family units of which 23 units could be short term rentals, but this may take some time before they get final approval.

With so many potential buyers now glued to social media we have significantly increased our advertising online by offering additional video tours, virtual open houses, and tours as you can see by the links below:

 

Virtual Home Tours:

3149 Waakea Pl. Wailea: https://my.matterport.com/show/?m=ifodYr3xSpJ

Maalaea Surf Unit E3: https://my.matterport.com/show/?m=efAg9rJzwQ2

145 N Kihei Rd Uni 512: https://my.matterport.com/show/?m=hYjUR6z8Rhn&mls=1

112 Walaka Unit 305: https://my.matterport.com/show/?m=qM4x1ppeqZU&brand=0

10 Kulani: https://www.youtube.com/watch?v=-I8kt8RPxOk&feature=youtu.be

 Click here for more Videos and Tours    All VR Tour Matterport Links

 

Please feel free to call any one of us for more information or email us at dad@mauirealestate.net

May all good things come your way – laughter, gratitude, good health and good friends

 

            Bob Hansen PB R(B)            Clint Hansen BIC R(B)       Donna D. Hansen R(S)

                808-283-9456                           808-280-2764                     808-280-1650

                  RB-17532                                            RB-21616                                RS-49765       

        

More Updates Regarding Maui Opening

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The following information has been obtained mainly from Maui News’ posted article today. Please note any of this information is not guaranteed and subject to change without notice. It’s a very important time for Maui opening up its doors. We want visitors to return but need to protect our special island against another pandemic. Thank you one and all for loving and respecting Maui and it’s beauty. We are available to assist and have lists of what is available to enjoy once you arrive. Here’s an update:
Maui News mentioned that Maui will be expecting about 1,000 to 1,100 visitors today and thereafter the best guess about 1,300 the next week. If you are planning to travel to Maui, please be sure to follow the testing rules and information. Maui News suggested going to the site: hawaiicovid19.com. Upon arrival you will be given informational about Maui County rules such as face mask mandates, social distancing, etc. Please be sure to read the material. It may vary from where you are traveling from. Also note where you are staying should also have materials for you. Maui County is hoping that travelers will take the voluntary second test a few days after arrival. Incentives will be offered (coupons and discounts).

Wailea Palms 3603

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WAILEA PALMS 3603 IS THE ONE! This spectacular 2 bedroom, 2 bathroom unit is a rare offering of one of the best locations AND best remodels in the complex! 3603 borders the end of the development to provide a large and grassy private area allowing for quiet enjoyment of the soothing ocean and West Maui mountains views. Top of the line upgrades include slate appliances, Caesarstone countertops, tile plank flooring, glass tile backsplash and custom built cabinets. This elegant abode tastefully combines an upscale, classy appearance with modern design features including new LED lighting, Mitsubishi split A/C systems in the bedrooms, Panasonic whisper quiet bathroom fans, fixtures and furnishings. No surface and no detail were left untouched as even the exterior lanai has been retiled to satisfy the most discerning tastes. You can proudly call Wailea Palms 3603 home (or home away from home) while enjoying true single level living as this unit is without a single step. Wailea Palms is a gated resident complex with a tranquil pool area, spa with stunning ocean views, club house, putting green, and exercise room. Thoughtfully designed, aesthetically and architecturally pleasing, and conveniently located ~ YES, YOU CAN HAVE IT ALL. 

Newly Listed 65 Hale Hookipa Way

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If you’ve been waiting for a prime location, exquisitely remodeled Wailea home ~ LOOK NO FURTHER. 65 Hale Hookipa Way offers top of the line appliances, new A/C units, Sapele wood cabinets, new lighting, new tile and hard wood flooring, bathroom fixtures, a grand stair case and a floorplan perfect for entertaining with thoughtful flow and design. Everything from the impressive curb appeal first impression, to the high ceilings, 3 bedrooms plus den, 4.5 bathooms, spacious two car garage and attention to detail throughout this stunning home in the sought after Wailea Fairway Estates is sure to meet the “must-have” criteria of the most discerning buyers. Relax in your own backyard oasis with recently re-tiled pool and pool area that also boasts updated pool equipment. The soft sand, wondrous snorkeling and natural beauty of Ulua and Mokapu beaches are only a short stroll across the street. World famous golf, tennis and popular dining and shopping options including the Shops of Wailea are also nearby. 65 Hale Hookipa Way awaits you.

Available To See By Appointment!

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Open Today and Tomorrow from 12:00 pm to 4:00 pm

Call For An Appointment 808-495-1978

Kihei Shores I-202 2747 So. Kihei Rd. 

Ocean View 3 bedroom 2 bath condo. Quick stroll to Kamaole 3 beach, playground, and restaurants. Community pool, Hot tub and BBQ!

Open Today And Tomorrow From 1:00 pm to 4:00 pm

Call For An Appointment 808-419-0002

Kai Makani Loop, Building 16 #202

Off Kihei Rd., across from the beach! 3 bedroom, 2 bath ocean view condo. One of only approximately 40 large separate storage rooms for ocean toys or storage items included in purchase!