Urgent: Do you feel your Maui Property Taxes are assessed too high? Real Property Tax Appeals Due by April 9th!
JUST PUBLICIZED! NEW WAILEA PROJECT LAUNCHING!
The 75 unit project on the corner of Okolani and Wailea Alanui will open up this next weekend. These beautiful condos (non vacation rentals) will offer two and three bedroom units plus penthouses. Prices will start at $1.5M. Great views from many. We will get the plans and all soon. Reservations will be available when officially ready within a week! Call or email us at dad@Mauirealestate.net
Hansen Ohana Maui News February 2020
As we complete the first month of 2020, we continue to experience an interesting Real Estate market. Average prices remain strong for all property types, across all price points and have moved upward slightly for the year (7.2% increase for single family homes to the median price now $782,438. 7.7 % increase for condominiums to a median price of $569,000). We continue to feel that moderate increases in prices with inventory in most areas shrinking is good for a steady real estate market. Number of month’s supply of inventory for single family homes decreased 15.5% and Condominiums decreased 16.3%. Less supply should lead to stable or increasing prices. Another positive factor is the current very low mortgage rates.
With our booming economy, low unemployment, increasing real wages and low interest rates our possibility of recession appears to remain low. Let’s all root for a continuation of one of the longest periods of expansion and good economy. Of course, politics, the world economic and political factors are unpredictable so things could change in another direction, but we feel there is strength in the market.
On the national scene the Federal Reserve Chairman (Jerome Powell) remains cautiously positive about the 2020 economy. Fundamentals supporting household spending are still positive. He also mentioned the large number of job openings and that employers are more willing to hire and train semi-skilled workers.
There is exciting news on the farming front. Maui continues to morph from a sugar producing island to diversified agriculture. Mahi Pono purchased a huge portion of farmland on Maui. Their crop farm already planted is as follows: 120 acres of potatoes, 20 acres of onions, 22 acres of papaya, 144 acres of citrus and avocado. This year is scheduled as follows: 3,500 acres of citrus, 240 acres of coffee, 15 acres of breadfruit, 2,000 acres of pastureland for grass-fed beef.
UPDATES TO NEW PROJECTS
Highlands at Kehalani (DR Horton) – Starting in the Low $700,000’s. Four different floorplans ranging in size from 1,508 to 1,743 sq. ft. No owner-occupancy requirements.
Ilima at Kehalani (Towne Island Homes) – Starting Prices from $691,000. Ilima at Kehalani features 49 single-family homes. Offering seven distinctive floor plans ranging in size from 1,391 to 1,998 square feet of interior living space and featuring three bedrooms with two baths. Each home comes complete with extraordinary standard features that provide great options for comfortable living. These homes do require a One-year owner occupancy. Builder’s Options/Upgrades Package may still be available for buyers to customize their home
Wailea Projects: a lot of new communities coming to the public soon. The final details aren’t publicized yet. The first project is approximately 75 condos, many with gorgeous ocean views and close to the beaches. Not vacation rentable. If you want to be on the list to receive notifications, be sure to contact us at email@example.com.
Here’s a few of our featured listings with even more at https://www.mauirealestate.net/Homes-Featured.html
GREAT REAL ESTATE INVENTORY:
- 4315 E Waiola, Wailea Golf Vistas: Over 5,000 sf of total luxury. dynamic ocean views $6.9M https://www.mauirealestate.net/mls-385469.html
- Na Hale O Makena D102: Single level 3bd, 2.5ba, upgraded kitchen, ocean view. $1.495M
- Polo Beach Units 509 and 707: Luxury 2 bd/2ba renovated ocean view units.
Polo Beach 509: Polo Beach 707:
- 1786 Halama: 3 bd/3ba oceanfront home with a 2 bd/1ba ohana. $3.298M.
- 1260 Naalae: 5bd/3.5ba Estate-quality living. $1.898M.
- Ironwoods Unit 62, 2 bd. 3 bath ocean and golf course view single level living unit with garage.
- Maalaea Surf Unit E-3 beautifully located beachfront community.
Wishing you a fabulous continued 2020. Enjoy making memories and remember to stop and smell the roses.
The Hansens: Bob (808-283-9456) Clint (808-280-2764) and Donna (808-280-1650)
It is time again to update you regarding what the real estate market is doing and also to ask you to mark your calendars to save the date of December 7th for our annual Holiday Toy Drive.
Regarding real estate activity, the US Mainland seems to have leveled off in its decrease in sales although the majority of areas continue to see modest increases in prices. The vast majority of economists continue to predict that the market will continue to slowly but steadily increase, but at a much more sustainable pace (3% or so). The really good news is that the FED’s continue to predict no interest rate increases from them for the rest of the year.
Inventory on Maui is still shrinking as new listings decreased 1.7% for single family and 1.5% for condos. In addition, Single Family inventory decreased 14.6% and Condos decreased 11.4%. Median Sales Prices increased 3.4% to $750,000 for homes and increased 7.2% to $552,000 for condominiums. Less inventory could mean upward pressure on prices in the long run.
Luana Garden Villas at Honua Kai pre-sales continue to be strong – over 90% are now under contract and construction is well under way. The majority of construction of Kalama Kai in Kihei has reached completion and occupancy of units has begun. D.R. Horton is currently offering new construction homes in Wailuku with some interesting incentives. They are 2 story, with 3 or 4 bedrooms and priced between $667K-$721K. Towne Island Homes also has some completed properties available in the mid $600’s. We have some exciting listings in Wailea, Kapalua, Kahului, Kihei, Pukalani and Haiku ~ homes, condos and vacant land. Just to mention a few locations: A Wailea Kai best buy, a Haiku home on 2 acres and a Maui Meadows home and Ohana, plus so many more all over the Island. Be sure to check all the featured listings on our website www.MauiRealEstate.net Our office features agents that specialize in different areas of Hawaii.
Important notice: Tune in for more information regarding Hawaii’s economy either by listening to Clint Hansen’s radio program at KAOI 1110 AM where he will be interviewing Paul Brewbaker, Hawaii’s respected economist or go to mauirealestate.net/radio or MauiRealEstate.net/mauirealestateradio for the audio or written version. Clint’s radio program is every Monday at 7:00 to 8:00 am and covers different aspects of our real estate.
Please give us a call for updates for your specific area. We are here to help. Following are our numbers.
Wishing you a fantastic summer,
Clint, Donna, and Bob
Clint Hansen, R(B) 808-280-2764 ~ Donna Hansen, R(S) 808-280-1650 ~ Bob Hansen, R(PB) 808-283-9456
The Hansen Ohana
Maui Luxury Real Estate LLC
Condominium sale prices have reached a new high at a median price of $552,000 for June 2019. Active status Inventory for sale has reached an all time low and may indicate a seller’s market.
June inventory numbers dropped 14.6 percent for single family homes and 21.3 percent for condos compared to June 2018.
Median home sale prices rose 3.4 percent to $750,000 in June. The majority of homes sold were located in Wailuku. Majority of condos sold were found in Kihei with a median price of $550,000. Highest priced home sold was located in Kaanapali at $3.1 million. Highest priced condo was sold in Kapalua at $2,147,500.
If your interested in possibly buying or selling your home or condominium, call us today! We would be happy to assist you!