Maui Luxury Real Estate LLC ~ The Hansen Ohana ~ May 2022
Already in the middle of May, this month has proven to be very interesting. Although not like the past two plus years, Covid is no longer the main subject, the economy, real estate and the stock market are on most people’s minds.
Although we all know Covid is still lurking in the background, in the US it is usually not as severe as in the past. Our blog at https://blog.mauirealestate.net posts updates regarding all sorts of topics including Covid.
Maui’s Economy: We continue to attend many tax and economic webinars. So far our real estate market is stable due to the lack of inventory. We have noticed more numbers of properties coming on the market including a few REOs. Lower priced properties are hindered by the increase in interest rates making affordability more difficult for that sector of buyers. However, there are several new projects in the planning and building stages that focus on affordable homes.
Regarding real estate Maui has become one of the more sought-after places for those searching for a safe place with warm weather, beautiful beaches and magnificent sights. It is where so many have moved to escape to paradise.
Generally speaking, prices continue to increase, and inventory continues to stay somewhat low. Single family home prices have increased over the last year by 27.4% to a median price of $1,242,500 but the inventory of single-family homes decreased by 28.4%. Condominiums prices have increased 18.1% to a median sales price of $815,000 however the inventory of condominiums have decreased by 55%. It appears that inflation may be here to stay for a while. Interest rates are ticking up above 5% which changes the affordability rate. With inflation cutting deeply into the value of the US dollar and the Fed indicating that they will most likely raise interest rates three to four times in 2022, planning for your future should be at the top of your list. This could mean it is a great time to buy and a great time to sell. While many feel the hot market will end most economists believe that prices will continue to increase albeit at a slower pace. This means that buyers might strongly consider getting off the sidelines and buying now before prices and interest rates go up even further. The pandemic caused many who had been planning to move on but have held back so far. That may be starting to change. For more detailed statistics go to: https://www.mauirealestate.net/real_estate_stats.html
Remember to check out our blog for weekly events, news events as they become available https://blog.mauirealestate.net
Enjoy Maui Virtually!
Our Live Beach Webcam has sound so take time out of your busy life to enjoy the sounds of surf as well as wildlife by linking to https://www.mauirealestate.net/video.php?Size=Large
Wishing to virtually tour properties, open houses and 3D tours go to: www.MauiRealEstate.NET
Bob Hansen PB R(B) 17532 808-283-9456
Clint Hansen BIC R(B) 21616 808-280-2764
Donna D. Hansen R(S) 49765 808-280-1650
MAUI LUXURY REAL ESTATE LLC
The Hansen Ohana ~ Maui’s Real Estate Family Tradition for over 30 years
Wailea Town Center Suite A-106 (next to Matteos)
There will be a 5 minute fireworks display today, May 5th at 9:25 pm. The display will be located on the Gold & Emerald Training area.
New retail line “Harvest at Home” from Maui Greens is expected to be available on grocery store shelves throughout Maui in September. The new line of products will be organically grown leafy greens that are still growing in soil. Consumers will be able to harvest their own organic produce at home as they need it. This will ensure longer lasting and fresher tasting greens.
Thank you to the Maui News for this article.
Events happening around Maui for the month of May.
- Polynesian Show Tuesdays 5:30p-6:30p Shops of Wailea
- Lei Po’o Making Wednesdays 1:30p-2:30p Shops of Wailea
- Wailea Wednesdays Wednesdays 4:30p-6:30p Shops of Wailea
- Coconut Frond Weaving Thursdays 4:30p-5:30p Shops of Wailea
- Polynesian Show Thursdays 5:30p-6:30p Shops of Wailea
- Ukulele Lessons Fridays 3:00p-4:00p Shops of Wailea
- Papa Hula Friday 4:00p-5:00p Shops of Wailea
- Kukui Mall Farmers Market Saturdays 8a-12p Kukui Mall, Kihei
- Maui Gift and Craft Fair Sunday 9a-2p Lahaina Gateway
- Hau Workshop May 4, 2022 9a-1:00p Hui Noeau Visual Arts Center
- Malama Lanai Restoration Day May 7, 2022 7a-5:30p Lahaina Harbor
- Volunteer Clean Up: Bike Month May 7, 2022 9a-12p Petco Kahului
- Mother’s Day Chocolate Tasting May 8, 2022 12:30pm-1:30pm Maui Ku’ia Estate Lahaina
- Brunch for the Mamas May 8, 2022 10a-1p King Kamehamaha Golf Club Wailuku
- Lei Po’o Workshop May 7, 2022 3p-5p Friends & Faire Wailuku
- Maui Classical Music Fest- Opening Night May 13, 2022 7p-9p Makawao Union Church
- 2022 UHMC Commencement Ceremony May 14, 2022 5pm UHMC
- Bumpin Uglies May 15, 2022 8pm Da Playground Maalaea
- Maui Classical Music Fest- Viennese Splendor May 16, 2022 7p-9p Keawala’i Congregational Church
- Maui Classical Music Fest- Hana Community Concert May 18 6p-7:30p Wananlua Congregational Church
- Yeti 2022 Film Tour May 19, 2022 7p-10p MACC/ A&B Amphitheater
- Murder in the Nth Degree Starts May 20, 2022 7:30p ProArts Playhouse Kihei
- Maui Classical Music Fest- Romantic Excursions May 20, 2022 Keawala’i Congregational Church
- Night at the Old Lahaina Prison May 21, 2022 Old Lahaina Prison
- Maui Classical Music Fest- Festival Finale May 22, 2022 3p-5p Keawala’i Congregational Church
- Joey Alexander Trio May 26, 2022 7:30p-9:30p MACC/ Castle Theatre
- Artist 2 Artist w/ Henry Kapono & Guest Led Kaapana May 27, 2022 7:30p-9:30p MACC/ Yokouchi Pavilion
- Solo Artist Exhibition 2022: Terry Lopex & Nancy Young May 27, 2022 – July 22, 2022 9a-4p
- Pint Night for the Birds May 27, 2022 6p-10p Maui Brew Co Lahaina
- “Maui Under the Stars” Gala Event for Make-A-Wish 5:30p-10p Gannon’s Wailea
Maui in the past week (Wednesday to Wednesday) had 403 new Covid cases. Of those cases, 390 were on Maui, 6 on Molokai, and 7 on Lanai. You can read the breakdown of cases by island via the Maui News here.