HANSEN OHANA NEWSLETTER
Happy New Year!
Thank you to all those who have contributed to The Hansen Ohana’s annual drive for deserving children on Maui. This year we topped last years’ numbers by over 25%. That is the most money, toys and gift cards we have ever received and donated. Mahalo nui to all for such a fantastic response.
We are in yet another high season ~ busy time for real estate. Here’s a quick update on the market.
By now we’ve probably all heard or read reports that many US markets are experiencing a slow-down. Early to mid-last year Realtors were complaining that they wanted more inventory and stable prices. Well, we have that now and some still complain. The vast majority of economists predict that the market will continue to steadily increase, but at a much more sustainable pace (3% or so). Many economists are calling it a “soft-landing”.
Inventory on Maui is still shrinking, but some price increases have moderated. Island wide Single-family homes had a median price of $708,750 which is a moderate 3.4% yearly increase which is similar to the Mainland. Condos had a median price at $493,500 which is a huge 21.1% yearly increase. The reason for this disparity may be found in people more willing to purchase in the lower price ranges and the significant amount of closings in new developments like Kamalani in North Kihei or phases of existing developments like Kamani at Kehalani. There are many indicators that Maui may soon be matching the more moderate 3% ish increases to match of the rest of the US. Keep in mind that these are general figures and sales in certain price ranges and areas can vary significantly. To discuss areas of most interest to you in more detail please call us any time.
Luana Garden Villas at Honua Kai pre-sales continue to be very strong – tomorrow morning the final 15 Villas are being released. Kalama Kai in Kihei has broken ground and vertical building is well under way. Demolition of the old Maui Prince Hotel in Makena continues along with construction of multiple new oceanfront Makena homes. If you’ve been to Pukalani lately you’ve likely noticed that an increasing number of the lots in Kualono have also homes in various stages of construction as well.
Be sure to check out our current listings that include some fantastic land opportunities, a Kihei oceanfront home best buy opportunity, a beautiful Wailea home with a view easement and some exciting island wide home and condo options. If you’ve been watching the market and don’t see quite what you are looking for or are considering selling please give us a call. There can be opportunities available prior to hitting the open market.
Please give us a call for updates for your specific area. We are here to help. Following are our numbers.
Clint Hansen 808-280-2764
Donna Hansen 808-280-1650
Bob Hansen 808-283-9456
The Hansen Ohana
Maui Luxury Real Estate LLC