Spring Newsletter

Aloha All,

We thought it was time again for a little update of real estate statistics and happenings on Maui.

Many regions of the US Mainland continue to experience a slow-down although the majority of areas are also seeing modest increases in prices.  The vast majority of economists continue to predict that the market will continue to steadily increase, but at a much more sustainable pace (3% or so).  The really good news is that the FED’s have indicated that there will be no interest rate increases from them for the rest of the year.

Inventory on Maui is still shrinking, and the “Median” Sales Prices increased 4.8% to $712,718 for homes, and increased 13% to $524,500 for condominiums.  On the other hand, the “Average” sales prices for homes decreased 11.1% to $1,001,880 and the average sales price for condos decreased .03% to $693,952.  Less inventory could mean upward pressure on prices in the long run. The reason for this disparity may be found in people more willing to purchase in the lower price ranges.

Luana Garden Villas at Honua Kai pre-sales continue to be strong – over 85% are now under contract.  Kalama Kai in Kihei has broken ground and vertical well building is under way.  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.  We have some exciting listings in Wailea, Kapalua, Kahului, Kihei, Pukalani and Haiku ~ homes, condos and vacant land.  Just to mention a few locations: Wailea’s Best Villa with full garage, a large 4,100 square foot ocean view custom Wailea  home, a totally remodeled ocean view Maui Meadows home with cottage, plus so many more all over the Island.  Be sure to check all the featured listings on our website www.MauiRealEstate.net

Please give us a call for updates for your specific area.  We are here to help.  Following are our numbers.

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

dad@mauirealestate.net

Beach Boys At Maui Arts & Cultural Center

The Beach Boys will be performing Friday night, April 12th, at the A&B Amphitheater. Show is starting at 7:30 pm with gates opening at 6:00 pm.

The Beach Boys have sold millions of albums and produced numerous hits since their debut over 50 years ago. They have influenced countless artists throughout the years with their musical style. Current band members are Mike Love, Bruce Johnston, Jeffrey Foskett, Tim Bonhomme, John Cowsill, Keith Hubacher, Christian Love, and Scott Totten.

In 2013 they released the Sounds of Summer that has since gone triple platinum and still climbing! The interest in the band and their music has received a new resurgence. Those interested in purchasing tickets should check the Maui Arts & Cultural Center for availability.

Open Today, Friday March 29th

Open Today, Friday March 29th, From 9:00 am to 11:00 am

1786 Halama

Prime Oceanfront Location! 3 bedroom beach house and detached 2 bedroom cottage with a 400+ square foot storage room offer a variety of living options. Owned PV and solar hot water systems add to the incredible value of this property.

Open Today, Friday March 29th, From 1:00 pm to 4:00 pm

370 Kai Malu

From Piilani turn down Okolani then take first left turn. Wailea’s Best Value! Located at the end of a cul-de-sac lies a well maintained and upgraded three bedroom, two and one-half bath townhouse with furnishings. Great room opens to extended lanai with wet bar and beautiful sprawling lawns.

Hawaii Energy Conference

The Hawaii Energy Conference will be taking place Wednesday March 27th and Thursday March 28th at the Castle Theatre. This is now the conferences 6th year. Theme for 2019 is Innovation In Practice. The conference is a great place for those in the energy field to network.

Energy leaders from Hawaii, Japan, Europe, and the Continental U.S. share ideas on how to serve customers and market growth opportunities. Discussions will also include grid modernization, and how solar can contribute to clean energy goals. Ideas about new housing developments that can supply to the grid and have limited electricity needs are also something the conference hopes to address.

Both days are scheduled to begin a 7:00 am. To learn more about the conference including ticket pricing and registration available here.

 

Prices Rise As Inventory Declines

Median prices for both homes and condominiums rose for the month of February while inventory and sales declined. Median home prices increased 15.4%  to $790,000 and median condo prices rose 11.8 percent to $524,500. These stats were released by Realtors Association of Maui.

Closed sales for February homes were down 19.4% to 79 homes. Closed condo sales were down 3.2% to 120. Kihei was the city with the most homes sold, with Wailuku and Kahului close behind. Closed condo sales also saw Kihei with the most units sold with Napili/Kahana/Honokowai and Wailuku next.

Maui’s market was on trend with the rest of the nation showing a decrease in closed sales. Potential homeowners will likely take advantage the remainder of the year with interest rates being more stable then 2018’s unreliable changing rates.

As always, contact the Hansen Ohana with any and all of your real estate needs!