Category Archives: Maui News

The Hansen Ohana Winter Newsletter

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Aloha and Happy New Year!

We are very grateful for a wonderful 2014 and wish everyone a happy, healthy and prosperous 2015!  There has been a lot of activity in the market, phenomenally low interest rates and new loan programs, low inventory levels and plans and progress on some new developments.  See below for a quick update on PROJECTS, and make sure to read the credit check facts while taking loan, they are very important.

In addition to regularly meeting with developers, attending Committee meetings and being actively involved in the Community we also attend presentations by respected economists like Paul Brewbaker.  Real Estate prices on Maui increased in the last year almost exactly as predicted by Paul Brewbaker a year ago.  Paul is considered by most to be the preeminent economist in Hawaii.  Last year he predicted that Maui prices should rise from 7% to 10% in 2014.  Sure enough in 2014 the prices of both single family homes and condos both rose in 2014 by 8% and 11% respectively.  The number of sales, however, fell by 4% for Homes and 10% condos.  To us, the number of sales is less important than steady values.  An orderly market, playing catch up to the 2007 crash and a sustainable increase in prices is the best scenario.  When we represent a buyer in a property purchase, or buy one ourselves, it feels a lot better when they go up in value.

At $570,000, the median sales price for a single family was the highest it’s been in 5 years.  While sales prices rise, the number of short sales and foreclosures decreases.  This reduced number of distressed sales is reflective of a healthier real estate market.

One of the more important factors is the Days on Market (DOM) for SOLD units. That number is currently 103 days for Homes, 119 days for Condos, and 137 days for Land.  This “Days on Market” figure is only for property sold, not units that have not sold.  Units that have not sold may not be priced correctly relative to current market conditions and of course, there are price ranges that are currently “hotter” than others.  Many times Sellers are not realistic in their expectations.

The best part of Paul’s prediction is that for the next few years he still expects a 7% to 10% yearly increase in property prices for Maui.  So how does all of this effect you?  Everyone’s real estate goals are different so it’s important to meet and discuss your personal needs and goals.  There are many factors to consider (exchange rates for international clients, interest rates, long and short terms goals, health and family etc) and no one size fits all so please call us to discuss how we can put our 75+ years of combined real estate experience to work for you.

PROJECTS REPORT:
● Ritz Carlton in Kapalua launch prices are predicted to range from $800,000 to $1,500,000.
● Keala O Wailea by the Gateway Center is progressing and is estimated to be coming on the market soon.
● Piilani Suites 200 unit hotel directly by the Wailea Town Center is beginning to pour foundations.
● Makali’i at Wailea 34 condos located across from the Fairmont is in for approvals.
● Makena Resort is moving forward with Maluaka lots available to purchase.
● The Parkways homes in Kahului have sold out.  A new phase will be available soon.
● Golf Estates 2, 16 home sites below Golf Estates, is nearing completion and should be ready toward the end of this year.
● Hoku O Wailea, 75 condos located at the corner of Oakalani and Wailea Alanui, is moving very slowly.
● Island Country Market, located at the Shops at Wailea, is coming out of the ground with steel I beams visible from Wailea Alanui.
● Shops at Wailea is planning to have their parking lot controlled with all paid or validated parking.

As always we are happy to answer any questions you have about what is happening in Wailea, Makena and all of Maui, please call or email us any time. We are known for our island wide experience, contacts and resources and pride ourselves in our knowledge experience and integrity.  We love to help people realize their real estate goals and love referrals.

Links to detailed info.  http://www.ramaui.com/UserFiles/File/Stats/All-December2014.pdf 

Enjoy the winter season!

Bob, Donna, Clint and The Hansen Ohana Group
Bob Hansen, Owner and Principal Broker
Clint Hansen, Realtor Broker
Donna D. Hansen, Realtor (S)

Lanai

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With so many new developments in the works, it’s no wonder people are getting excited about Lanai.  Billionaire Larry Ellison’s plans for Pulama Lanai could almost double the island population in the next two decades.  Along with the approximate 100 room resort,  new plans would extend residential area, include a possible new airport runway, new roads, and plenty of parks to enjoy.

Lanai offers a variety of activities as well as places of historical value.  Hiking up Koloiki Trail offers a breathtaking view of Molokai.  This hike is roughly 5 miles long so be sure to bring plenty of water as well as snacks.  Weather most likely will be cooler, a light jacket or sweatshirt may be necessary.

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Hulopoe Beach is a great beach to relax and enjoy the water or take advantage of the reefs and go snorkeling.  Picnic tables as well as restrooms are available at the beach.  Be sure to look for Sweetheart Rock to the east of the beach.  The rock, known as Puu Pehe is a true landmark of Lanai.

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Lanai’s 5th Friday is happening tomorrow!  5th Friday is a great way to meet local businesses and get to know and participate in the local community!  Event takes place at Dole Park from 5:30pm to 8:30 pm.

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Maui Real Estate Group

Help Repair Sugar Cane Train

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Residents and businesses can help the Maui Sugar Cane Train be up and running again in the next year.   Fundrasing will be held to repair and refurbish some of the older train cars.  Those who take on this task have the opportunity to get their names on the new train cars.

Craig Hill is the new owner of the train and a 30 year Maui resident.  Many were disappointed when the train went out of business.  Hill is committed to seeing the landmark train return to service.  This is an opportunity for people to get involved and give back to the community.

For more information, you can read the Maui News article in its entirety here.  We hope to see the train up and running in the near future!

Helpful Tips For New Homeowners

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Being a new homeowner is an exciting time in a person’s life.  For first time homeowners it may not only be exciting, but feel challenging as well.  A great way to  tackle some of those daunting home projects or questions is with a good old-fashioned book.

Many books have been published with specific tasks in mind.  Everything you can think of for any project you may have can been found in a book!  If your new home has extra gardening space, why not try planting your very own organic garden?  Busy during the week with limited amount of time to devote to a huge project, there’s a book dedicated specifically for Saturday mornings.  Feeling intimidated by the amount of stuff and how to fit it into your new space, don’t worry there is a book with home organizing tips available to you!

Whether you’re a new home owner, an established resident, or just looking for help with do it yourself projects, there are plenty of good books available that also make great coffee table decor!  You can find a list of top books for new homeowners via Brightnest here.