June 2020 Newsletter

Hansen Ohana’s Maui News June 2020

Maui Luxury Real Estate LLC

Exciting news! As we enter the Summer and also the end of the fiscal year, Maui is celebrating the August 1st welcoming back of our tourists again without the 14 day quarantine regulations IF you have passed the Covid testing three days before arriving on Island. More details will follow as they are published but for Maui, we are excited to see all those who enjoy our Island. Even with the difficulties that these passed few months have tested Maui with, we have continued to prove that Maui continues to be a loved paradise no matter what is going on in the world. Maui’s real estate market has continued to be relatively strong, not perfect, but really good.

Our real estate update as of June 24, 2020:May continues to show a resilience in median sales prices. Homes prices were up 13.5% since last year at $800,000. Condos were up 33.3% from last year at $680,000. Number of new listings were down about 15.5% for homes and about 18.8% for condos. Inventory as well as pending sales for April remained low for both homes and condos. For the first 22 days of June the market is still showing resilience with 51 properties pending for South Maui, 25 properties for West Maui, 12 properties for the North Shore, 14 properties upcountry and 47 properties pending for Central Maui. With low interest rates and low inventory, the market appears to be continuing to improve.

Good news, lots of projects in many price ranges in many parts of Maui over the next ten years. Additional housing is needed on Maui for Maui residents. Just this morning we saw renderings of some workforce housing being conceptualized in Kapalua across from Pineapple Grill. A project currently underway is the Wailea Hills development. They have a portion of the 75 units for sale in 15 separate buildings. They have beautiful floorplans, many with gorgeous views and good locations and underground parking. Prices started in the mid $1.5’s million and up and seem to be selling pretty steadily. You can view them virtually, just let us know. For project info please email dad@mauirealestate.net and we will send you the link. 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.

Whatever your preference of (for) location, climate, size, price range and use needs are, we will find it for you. This is a perfect opportunity with interest rates low to move forward. Our virtual tours, Facetime presentations have helped many succeed during this time. You will feel like you are walking through them enjoying every possible detail. We strive to utilize cutting edge technology with a personal touch and felt this would be a good way for people to view our listings, ask questions and perhaps find their dream house or a great piece of land to start planning your dream home. Just go to our website at MauiRealEstate.NET

Low interest rates and mortgage relief are available. Qualifications vary loan to loan as well as the potential impact to your credit, but it is important THAT YOU CONTACT A REPUTABLE LENDER AS SOON AS POSSIBLE if you are considering a refinance, new mortgage, or mortgage relief. With so many potential buyers now glued to social media we have significantly increased our advertising online by offering additional video tours, and virtual open houses and tours as you can see by the links below.

Virtual Home Tours:

Maalaea Surf Unit E3 https://youtu.be/AGgg7qSvC68

Grand Champions #163 https://www.youtube.com/watch?v=VO7MZy-XMyw&feature=youtu.be

Grand Champions #180 https://my.matterport.com/show/?m=aGmrbu7bgvQ&brand=0

Walaka Maui Unit 305 https://youtu.be/9bAnpHTTLdU

153 Hokai Pl. Kihei https://www.youtube.com/watch?v=xhokgwLacs8&feature=youtu.be

65 Hale Noho Pl., Wailea https://www.youtube.com/watch?v=E1Rt8DAT8_0&feature=youtu.be

Kai Makahi D-202, Kihei https://www.youtube.com/watch?v=ur9xscX6i8o&feature=youtu.be

Kihei Shores I-202, Kihei https://www.youtube.com/watch?v=Ioo7498OkOY&feature=youtu.be

Matterport Links. https://www.mauirealestate.net/matterport/

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 R(S)