The Hansen Ohana Real Estate Group’s Newsletter  

The Hansen Ohana Real Estate Group’s Newsletter  

A BIG THANK YOU TO ALL OF YOU WHO SUPPORTED THE ANNUAL HANSEN OHANA TOY DRIVE BENEFITTING THE FRIEND’S OF THE CHILDREN’S JUSTICE CENTER.  TOGETHER WE RAISED OVER $23,000 IN GIFTS AND GENEROUS DONATIONS FOR OUR MAUI CHILDREN WHO WOULD OTHERWISE NOT HAVE RECEIVED GIFTS OR VITAL SERVICES.

LATEST REAL ESTATE STATS

Let’s review what happened in 2017 in the Maui Real Estate Market.

Maui continues to show modest to good gains in real estate values.  Realtors on the front line continue to believe in the underlying value of Maui Real Estate.  The average inventory decrease of homes for sale for 2017 was 7.7% and 17.4% for condos.  Pending sales had an increase for homes of 12.6% and for condominiums 15.5%.  This shows the steady decrease of available inventory and increase in demand.  In fact the months supply of inventory of homes for sale has decreased over the last 3 years.  2015 was 6.8 months supply, 2016 was 6.5 months and 2017 was 5.5 months supply.  Condos went from 8.5 months in 2015 to 5.1 months in 2017, a dramatic decrease in supply.

We continue to see increases in average homes prices to $1,024,271 (5.8%) .  There was in an increase of average condominium prices to $445,000 (7.2%).  This is more evidence of a continued forecast of upward pressure on real estate prices.  No one knows what will happen in the future, but affordability of homes may be hurt with continued increase in interest rates and home prices.  Most savvy investors believe that now is the time to purchase or refinance their property.

As always if you have any questions please email us at dad@mauirealestate.net or call Clint at 808-280-2764 or Bob at 808-283-9456.

In summary, while there is always local and International news that could affect the housing market, Real Estate has historically shown to be a store of value as well as one of the best ways to increase one’s net worth and family security.   The current market appears sustainable into the near future.

WAILEA DEVELOPMENTS

KEALA O WAILEA

This condo project located by the Gateway Center is under construction, with some units completed and receiving occupancy.  It is completely sold out. 

SINGLE FAMILY LOTS AT GOLF ESTATES II

This new subdivision will be a part of the Wailea Golf Estates just below the current subdivision.  They anticipate 16 lots of approximately 14,000 generous square feet each, with almost all having either ocean view or golf course frontage.  The infrastructure is complete and sales, while a little slow, are happening.  One developer built home is also currently in progress. Email us with your questions:  dad@MauiRealEstate.net

MAKALI’I O WAILEA

This property is owned by Wailea Golf LLC and is planned to be co-developed by Armstrong Builders.  It is located across the street and up from the Fairmont Kea Lani.  The project is a sharp departure from the typical Wailea look.  The look and feel will be mid-century modern with Hawaiian touches.  There will be 17 buildings of 4 units each in a townhouse style.  Most of the units will have grand ocean views and will be 2 or 3 bedroom homes with a garage. Pre-sales have reached the magic number, with over 80% sold and construction is expected to begin soon.

MAKENA’S DISCOVERY LAND PROJECT

Makena’s Discovery Land gets the green light!  We had the opportunity to revisit this very interesting project offering a lot of integral working parts. The unanimous Planning Commissions approval to get started allows this development with golf course, private club, restaurant and dwellings get started.  Have questions or interest?  Call us for more information and a private tour:  dad@MauiRealEstate.net 808-280-2764 (Clint) or 808-283-9456 (Bob).

HONUA KAI VILLAS NEW DEVELOPMENT

Upcoming first release of Luana Garden Villas at Honua Kai Resort and Spa located in Kaanapali.  There will be 72 three bedroom/three bathroom Villas with one car garages ~ 4 different floor plans available.  Expressions of Interest are now being taken.

MORE INFORMATION

Presently there are a lot of new developments both residential and commercial  under way in Kihei, Kula, Kahului, Wailuku and West Maui.  If you would like to learn about any of these new, current or future developments, contact us at dad@MauiRealEstate.NET

Please call us anytime if you or someone you know is considering buying or selling property on Maui.  We look forward to hearing from you.

Warmest Aloha,

Bob, Clint and Donna

Bob Hansen, Realtor® Principal Broker

Clint Hansen, Realtor® Broker-in Charge

Donna D. Hansen, Realtor® (S)

The Hansen Ohana Real Estate Group

Maui Luxury Real Estate LLC

Wailea Town Center

161 Wailea Ike Place, Suite A-106

Wailea Hawaii 96753

 

Information herein deemed reliable but not guaranteed and is subject to change.

If your property is presently listed for sale, this is not a solicitation for that listing.

Buy In Sardinia Italy?

On Hawaii News Now this morning you can buy a home in Sardinia Italy for about $1 US currency. City is dying and in need of revitalization. Some restrictions and conditions apply!

Low Inventory Increases Home Pricing

Maui home prices have increased 8.8% in the last year and condominium prices rose 7.2% for 2016. These market increases are due to low inventory. Most housing markets across the nation have shown an increase in the median price.

Once listings hit the market, houses and condos were selling at a faster pace than in 2016. Days on the market for homes was down 8.4 % and for condos down 3.8%. Kihei accounted for 40% of the condos sold in 2016.

New housing projects to look for in Kihei by Alexander & Baldwin’s Kamalani. The first phase of this new development will be releasing 170 units.

Feel free to contact the Hansen Ohana for all your real estate needs! To read more on the market trends for Maui, visit the Maui News website here.

Hawaiian Airlines Adding More Flights

Hawaiian Airlines is looking to add more flights to Kapalua due to high demand. More residents are taking flights from Kapalua to Oahu. These flights previously were considered to be taken only by visitors. Hawaiian Airlines will also be looking at doing direct flights to Las Vegas and also to Long Beach.

To read more information on the changes with Hawaiian Airlines here via Maui News.

November Stats

Thank you to our friends at Old Republic Title for providing these cool graphic breakdowns for Maui Real Estate for the past year. Provided are the statistics for single family homes, condominiums, and land sales. Big jump in the median pricing for condominiums, a slight increase for median home prices, and slight decrease for land pricing. You can use these graphics as a guide for following the Maui market trends.