We recently received the latest real estate statistics from the Realtors Association of Maui
The following is a summary of the activity during all of 2007.
Residential Homes are showing gains (unit sales = 1,138 [+5%] and dollar volume $1,047,878,879 [+4%]) compared to 2006 Year-end.
Condos are off the 2006 mark on Unit Sales and Total Dollar Volume, however the Average and Median Prices have risen 4 and 6 percent respectively.
Land Sales still trail behind 2006 in all categories, Unit Sales, Avg. and Median Prices and Total Dollar Volume.
 IN A NUT SHELL…… It’s a good time to buy….. and hold
1. Despite some sad markets on the Mainland, folks still want to buy Maui.
2. Inventory of Condos, Homes and Land Lots has grown somewhat, and relatively low interest rates provide plenty of options for Buyers.
3. Buyers should get Pre-Approved so they can shop in confidence (no last minute disappointments due to non-funding loans).
4. Some “short-sales” are appearing on the marketplace.
5. Many Sellers resist the realities of the softened market and may be left behind as sales continue.
6. Realistic Sellers can beat competing properties with better property condition, careful pricing, good marketing, and flexible terms. **

**FOR DETAILED STATISTICS go to “Maui Info” at www.MauiRealEstate.NET

HAU’OLI MAKAHIKI HOU!

Wishing you a beautiful new year!

From the Hansen Ohana

Maui has been experiencing some interesting and very rare weather the past few days.  When we asked for rain to assist us with our low water table we didn’t expect this response.  These photos were taken to show you a few South Kihei surprises.  You will notice the waves are full of red dirt and sand.  The lifeguard station was falling into the ocean on Kamaole Beach Two.  Electricity has been out a lot, as has cell service.  Although frustrating, the beauty of it all is that we rarely experience a storm like this and we all still share our aloha love of the Island.   

Honua’ula (Wailea 670) is close to being approved.  It will be 670 acres with 1,400 homes and condos while sensitive areas are to be preserved and protected.  Part of the 35 or more possible approval conditions are that they provide their own water, prohibit vacation rentals, donate huge money for parks and schools and build 700 affordable houses (some on site).   For future subdivisions the Council’s attitude seems to be “Develop your own water sources” and “No water, no development”.   While this will help insure Maui will not over develop it may also prevent enough affordable housing from being built.  It may also tend to keep housing prices high as supply will be finite. 

 On December 1, 2007 whether you are for or against the the Superferry, the  Hawaii Superferry’s grand catamaran, Alakai, begins daily crossings between Maui and O‘ahu.  We would like to just suggest that we show true Hawaiian Aloha spirit amongst each other as we enter into another moment in history.