Tag Archives: economy

Solar Stocks Surge On Tax Extension

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Renewable Energy Extension Tax Credit will extend the tax credit to 2023.  Previously the credit was only good through December 31, 2016.  With news of the impending extension, solar companies stock saw a surge.  Solar City had the highest with 34.1 %.  With the new extension in place, solar companies will be targeting expansion geographically.  System wattage size is likely to increase as well.

Solar companies such as Solar City and Sunrun have been lobbying for the extension on Capitol Hill.  Those in the solar industry are expecting a jump in growth over the next few years with the news.  More Information available on Investor.com here.

1031 Exchange Extension

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If you are currently in the process of a 1031 Exchange, please take note!  The normal 180 day exchange period will shorten between October 19th and December 31.  You must file for an extension on or before the deadline of April 15, 2016.  The IRS website can help guide you through the extension process and the three different options for filing.  Make sure to always consult with a tax professional should you have any questions or concerns.

 

 

Autumn Newsletter

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Maui Luxury Real Estate LLC ~ http://www.MauiRealEstate.NET ~ 808-879-3667 

Our Annual Holiday Toy Drive on December 4th is rapidly approaching!  Any and all donations are greatly appreciated.  We will gladly come to you for pick up, or stop by our office to drop off your donation.  This annual Hansen Ohana event has grown each year thanks to your generosity!

LATEST REAL ESTATE STATS:

Semi-annual figures released, Year to Date as of August 31, 2015.
Statistics show the last few years have been a very stable and smooth market.  Prices have been on the slow, but steady rise since 2011.  There was a slight blip down however in August.   At the end of August 2015 the median home sale price was $550,000 which is a slight decrease from last year which was $570,000.  Condo median price dropped from $410,000 a year ago to $355,000 last month.  The month before however, the median condo price was $394,000 and in May were as high as $459,500.  The month-to-month changes can be deceiving as Maui is a small island and the number of sales and sample is small.  A few sales can change the numbers significantly. Days on the market for both condos and homes remain fairly stable at around 4 months.  Days on market generally depend on how well a property is priced.  Over six months on the Maui real estate market is considered to be a Buyer’s market. Under six months on the market is a Seller’s market.

Some people have surmised that the reason we may have seen a slight decline is due to the Canadian Dollar being worth about 75 cents to the US dollar.  Certainly, it is a consideration for Canadian buyers, but we are seeing many Canadian owners taking advantage of the exchange rate and putting their Maui property on the market (increase in Canadian sellers and decrease in Canadian buyers).  Sellers are doing well when it comes to selling as the exchange rate works well in their favor.

Maui property is popular with a large pool of potential buyers.  The actual numbers for buyers by area are as follows:  1. Hawaii at $285M     2. California at $194M     3. Washington at $78M     4. All of Canada at $53M     5. Colorado at $44M    6. Texas at $43M   7. Illinois at $29M   8. New York at $21M   9. Oregon at $17M     10. Arizona at $14M     11. Alaska at $12M.  The next highest country is Japan at $6M then Singapore at $5M.  Other International buyer activity is currently minimal.

We were at a presentation about a month ago by Paul Brewbaker, the premier economist for the State of Hawaii.  He continues to believe that we will maintain steady increases in prices.  The last couple of years we have been in the 8 to 10% increase range. This year so far we have seen about 7% increase to the end of July and Paul expects that we will settle in at about 6% for the next year then maybe 5% for the next 3 or 4 years.  This forecast has not changed much since the beginning of this year.

Summary:  The current thinking is that purchasers of condos and homes should continue to be optimistic until at least 2018. We still have some catching up to do price wise.  What does this mean to you?  This little blip down in the market in August could mean that this might be a great time to buy a condo or a home.  With our historic low interest rates and lower prices (which we fully expect to be temporary) it could be an opportunity.  Much depends on the global economy, as well as local and national events and politics.

WAILEA DEVELOPMENTS
THE ISLAND COUNTRY MARKET: The market, located on the north-east upper side of The Shops opened September 15th.  The wine bar will open at a later date.
WAILEA GOLF ESTATES II:  Recently purchased by a third party, the sixteen lots will become sixteen (16) custom designed luxury homes.  For more information, contact us at dad@MauiRealEstate.NET
WAILEA BLUE: The Club House and pro shop have moved back to its original location.  The current 10,000 square foot buildings housing Manoli’s, Urgent Care and Snorkel Bobs includes the Pro Shop.  Ask us about Phase two expansion of square footage.
PIILANI SUITES: Wailea Residence Inn is a 200 Room All-Suite Hotel is going full steam.  Located on Wailea Ike Drive, the main entry will be across from Ekolu Place with the secondary entrance by the Wailea Town Center.  This “Wailea Value” hotel is designed to attract families.  A pool will be on site.  The hotel roof appears near completion with the opening date scheduled for April 2016.
KEALA O WAILEA: This condo project located by the Gateway Center has begun sales.  Both Phase One and Phase Two lottery have occurred.  Many units are reserved by the Developer’s friends and family of the Developer. There are several available.  For additional information or receive updates contact us at dad@mauirealestate.net
SINGLE FAMILY LOTS AT GOLF ESTATES: 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 has begun; completion should be soon. This just in, a developer may be purchasing the whole project and offering completed homes and building them as sales are made.  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. Construction is currently on hold waiting for WCA approval.  To keep updated contact us at dad@mauirealestate.net
HOKU O WAILEA:  This condo project consisting of 75 Multi-family units in 15 three-story, five-plex buildings located on the corner of Wailea Alanui and Okolani Drive is several years away.  Email us for further updates.

MORE INFORMATION
Presently there are a lot of new developments 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

On a personal note, 2015 continues to be a great year to date for The Hansen Ohana and Maui Luxury Real Estate LLC.  We now have 16 licensed agents and we choose to remain medium sized with no more than 20 licensed agents. We will only work with agents who have the same attitude of helping our clients the best way possible.   Over the years we have had a combined almost a billion dollars in closed sales between the three of us.  We have enjoyed assisting so many old and new friends in their purchase or sale of Maui property.  We are proud of our combined over 70 years of real estate experience and truly love what we do.  As full time Maui residents for over 26 years and a website second to none for Maui, we have valuable contacts, experience and resources to assist our clients.  Please call us anytime and if you or someone you know is considering buying or selling property on Maui.  We look forward to hearing from you.

Respectfully,
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  ~ Suite A-106

The Hansen Ohana Real Estate Group’s Mid-Summer Newsletter

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LATEST REAL ESTATE STATS

Semi-annual figures released, Year to Date 2015

Statistics show the last few years have been a very stable and smooth market. Prices have been on the slow, but steady rise since 2011. At the end of June the median Home sale price was $607,098 which is a significant increase from last year which was $530,000. Surprisingly the Condo median price dropped from $444,500 to $355,000. Last month however, the median condo price was $459,900. The month to month changes can be deceiving as Maui is a small island and the number of sales and sample is small. A few sales can change the numbers significantly. Days on the market for both condos and homes remain fairly stable at about 4 months. Days on market generally depend on how well a property is priced. Over six months on the Maui real estate market is considered to be a Buyer’s market. Under six months on the market is a Seller’s market.

We were just at a presentation by Paul Brewbaker, the premier economist for the State of Hawaii. He continues to believe that we will maintain steady increases in prices. The last couple of years we have been in the 8 to 10% increase range. This year so far we have seen about 7% increase and Paul expects that we will settle in at about 6% for the next year then maybe 5% for the next 4 or 5 years.

Summary: The current thinking is that purchasers of condos and homes should have smiles on their faces until at least 2020. Personally, we are hoping that prices only increase moderately over the next few years so that we don’t witness a bubble like we did in 2007. Historically a sustainable price increase is 5 to 7 percent per year. Although we still have some catching up to do price wise, we may be approaching a sustainable price vs. market condition. Much depends on the global economy, as well as local and national events and politics.

WAILEA DEVELOPMENTS

THE ISLAND COUNTRY MARKET ~ The market, located on the north-east upper side of The Shops which will house a market, restaurant and wine bar is scheduled to open September 1st!

WAILEA BLUE ~ Recent name change back to its original name. The Club House and pro shop have moved back to its original location. The current 10,000 square foot buildings which houses Manoli’s, Urgent Care and Snorkel Bobs include the Pro Shop. Phase two will bring expansion of square footage of the existing buildings.

PI’ILANI SUITES ~ 200 Room All-Suite Hotel

Located on Wailea Ike Drive, the main entry will be across from Ekolu Place with the secondary entrance by the Wailea Town Center. This “Wailea Value” hotel is designed to attract families. A pool will be on site and food service will be offering breakfast and evening cocktails. The hotel roof appears near completion with the opening date scheduled for April 2016.

KEALA O WAILEA

This condo project located by the Gateway Center has begun sales. Phase One offered 30 units of which fifteen (15) were reserved by lottery on July 26th. The remaining were reserved by family and friends of the Developer. More units will be available for sale as time goes on. Email us for additional details: dad@MauiRealEstate.net

SINGLE FAMILY LOTS AT GOLF ESTATES

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 has begun and looks like completion should be soon with offerings early Fall. 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. Construction is currently on hold.

HOKU O WAILEA

This condo project consisting of 75 Multi-family units in 15 three-story, five-plex buildings located on the corner of Wailea Alanui and Okolani Drive is several years away. Email us for further updates!

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

On a personal note, 2015 has been a great year to date for The Hansen Ohana. Over the years we have had a combined almost a billion dollars in closed sales between the three of us. We have enjoyed assisting so many old and new friends in their purchase or sale of Maui property. We are proud of our combined over 50 years of real estate experience and truly love what we do. As full time Maui residents for over 26 years we have valuable contacts, experience and resources to assist our clients. Please call us anytime and 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.

 

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.

 

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The Hansen Ohana Newsletter: First Quarter 2015

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Maui Luxury Real Estate LLC ~ http://www.MauiRealEstate.NET ~ 808-879-3667

First Quarter Report 2015

Aloha All,

As usual there is a lot happening around the Island.  Last month there was a phenomenal $41 million dollar sale in a large lot subdivision in Wailea/Makena.  To say the least this is a record home sale on Maui ~ and it is not even on the ocean, but it is private and is on over 3 acres.  You might not see this on-line as the Buyers and Sellers did not want any publicity.  This illustrates that the very high end remains strong.  There have also been two notable Keawakapu beachfront sales in 2015 – 3024 S Kihei Road was sold to a buyer from British Columbia, Canada for $14.5M and another small home just closed for $7.7M.  The properties over a million dollars in Wailea are taking a little pause, but their prices are holding well.

The prices on Maui under $1 million are doing well and there is about a 2 to 3 month supply of inventory which is very good for Maui.  The median price of a home on Maui was $583,300 last year but has actually dropped to $575,000 at the end of April this year.  The median price of a condo a year ago was $403,500, but now is $407,500.  Last month we were fairly close to economist Paul Brewbaker’s prediction of around 7% increase in prices per year.  As of the last meeting we had with Paul he continues to believe that this will continue for the next few years.  This month however, the median price of a home dropped, as it did in 2013 and 2014.  Is this a yearly seasonal change?  Maybe, but we do know that this may be a short window of opportunity from a steady climb approaching pre 2007 levels.

Developments in Wailea are moving forward.  A brand new hotel is going vertical and there is a lot of excitement on this.  It is an all-suite, 200 room hotel and is designed to appeal to families.  It is slated to be named The Residence Inn by Marriott and is located directly adjacent to the Wailea Town Center with very easy access to the Center and it’s now famous signature restaurant Matteo’s Osteria.  Try that restaurant, you won’t be disappointed.  When in the area please drop by our office any time.  It is right beside Matteo’s.
 
Something new to Wailea is happening at the Shops at Wailea.  It is called paid parking.  One other rumor is that the Shopping Center is for sale.  See the link here.  The owners are said to try the paid parking for a year to see what happens.  Many Wailea residents and guests are upset and are busy writing letters to the manager and owners, but it seems like it is moving forward anyway.  You can see the kiosks and gates going up now.  All I can say is that I am glad our office is at the Wailea Town Center and not at the Shops.  Time will tell on that one.  The good news is that a medium size grocery store is being constructed at the Shops to help with quick grocery items needed by the local residents and visitors is steadily progressing.

Speaking of oceanfront ~ have you had the opportunity to view the online photos of our 16 acre listing in Olowalu check the link here.  It’s a definite Wow.

If you prefer something a little smaller we also have a 2 acre property listed in Huelo right on the ocean with an absolutely awesome view.

Prefer a condo?  We have vacation rentable condos in popular complexes such as Kihei Beach unit 102, Maui Sunset B306, Kamaole Sands 9-104, Kamaole One #12, Maui Banyan H-503 and others.   If you are looking for possibly the two best home values in Wailea right now – be sure to check out our listings in Wailea Kialoa at 230 E Panana and Wailea Kai at 61 Waikai.

To receive updates regarding the projects throughout the Island (The Ritz Carlton Residences, Montage, the Upcountry brand new project, Wailea Golf Estates II, as well as many others) please email us.   We also blog about projects and other interesting news around the island as much as possible ~ please be sure to check our blog!

Fun events coming soon:

Friday May 22- 23rd: 46th Annual Barrio Fiesta at the War Memorial Soccer Field on Kaahumanu Ave.  Food concessions open at 5:00 pm, Parade of Queens starting at 5:35 pm.  Dance entertainment.  Saturday May 23rd at 10:00 am Veterans with be honored at a Memorial Service.  Games, races, and a talent contest will take place throughout the day.  Crowning 2015 Little Miss Barrio Fiesta will help conclude event. Updates available on the event Facebook page here.

May 24th – 30th is the popular Restaurant Week in Wailea.  It’s a great opportunity to enjoy fabulous restaurants and support the Maui Food Bank.  Additional information is available on their site here.

Wednesday June 3rd, through Sunday, June 7th:  Maui Film Festival!  New: Grand Wailea will host a Taste of Summer opening party!  Various ticket options as well as pricing available.  Find the various ticket package options here.  
Movie goers can save up to 20% on passes thru June 2. Event schedule available here.

Saturday and Sunday June 13th and 14th : Support our future farmers who have worked so diligently!  Maui’s Annual Upcountry 4H Livestock and Agricultural Fair. BBQ Cook-Off Contests, enjoy Maui made products, delicious food, rodeo and live entertainment.  Special appearances just for Keiki including Elsa from Frozen!  The event Facebook page, viewable here, has information and updates on the event.

Please contact us when you or someone you know is looking for real estate assistance.  Just drop us a line or give us a call.  Summer is around the corner and it is a great time to buy with interest rates still low.  Additionally, if you are considering selling, we would love the opportunity to discuss our experience, explain the market activity in the specific area your property is located, as well as show you our marketing plan.

Respectfully,

Bob, Clint, and Donna

The Hansen Ohana Real Estate Group

Bob Hansen, Realtor/Broker

Clint Hansen, Realtor/Broker

Donna Hansen, Realtor (S)