The Hansen Ohana Newsletter January 2019

HANSEN OHANA NEWSLETTER

Happy New Year!

Thank you to all those who have contributed to The Hansen Ohana’s annual drive for deserving children on Maui.  This year we topped last years’ numbers by over 25%. That is the most money, toys and gift cards we have ever received and donated.  Mahalo nui to all for such a fantastic response.

We are in yet another high season  ~ busy time for real estate.  Here’s a quick update on the market.

By now we’ve probably all heard or read reports that many US markets are experiencing a slow-down.  Early to mid-last year Realtors were complaining that they wanted more inventory and stable prices.  Well, we have that now and some still complain.  The vast majority of economists predict that the market will continue to steadily increase, but at a much more sustainable pace (3% or so).  Many economists are calling it a “soft-landing”.

Inventory on Maui is still shrinking, but some price increases have moderated.  Island wide Single-family homes had a median price of $708,750 which is a moderate 3.4% yearly increase which is similar to the Mainland.  Condos had a median price at $493,500 which is a huge 21.1% yearly increase.  The reason for this disparity may be found in people more willing to purchase in the lower price ranges and the significant amount of closings in new developments like Kamalani in North Kihei or phases of existing developments like Kamani at Kehalani.  There are many indicators that Maui may soon be matching the more moderate 3% ish increases to match of the rest of the US.  Keep in mind that these are general figures and sales in certain price ranges and areas can vary significantly.  To discuss areas of most interest to you in more detail please call us any time.

Luana Garden Villas at Honua Kai pre-sales continue to be very strong – tomorrow morning the final 15 Villas are being released.  Kalama Kai in Kihei has broken ground and vertical building is well under way.  Demolition of the old Maui Prince Hotel in Makena continues along with construction of multiple new oceanfront Makena homes.  If you’ve been to Pukalani lately you’ve likely noticed that an increasing number of the lots in Kualono have also homes in various stages of construction as well.

Be sure to check out our current listings that include some fantastic land opportunities, a Kihei oceanfront home best buy opportunity, a beautiful Wailea home with a view easement and some exciting island wide home and condo options.  If you’ve been watching the market and don’t see quite what you are looking for or are considering selling please give us a call.  There can be opportunities available prior to hitting the open market.

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

Clint Hansen 808-280-2764

Donna Hansen 808-280-1650

Bob Hansen 808-283-9456

The Hansen Ohana

Maui Luxury Real Estate LLC

dad@mauirealestate.net

Properties Available For Viewing

Open Today, Friday December 14th from 2:00 pm to 5:00 pm 370 Kai Malu

Located at the end of the cul-de-sac! Wailea Value! Enjoy tranquility and great location! 3 bedroom/2.5 bath beauty!

Available By Appointment! Wailea Ekolu Best Buy!

Beautifully appointed 2 bedroom/2 bath vacation rentable furnished jewel! Enjoy picturesque ocean views and all the Wailea Golf amenities and discounts. All five star reviews on VRBO!

Available By Appointment! Dynamic Ocean View Wailea Estate!

Available to view on short notice. Fabulous 4,100 sq foot ocean view home with Chef’s kitchen, two incredible great rooms, and two spacious master suites plus two additional bedrooms. Heated pool and spa. Owned photovoltaic solar system.

Kihei Charter School New Campus

Tuesday was the first day on the new campus for Kihei Charter School. The campus is now located at the top of the Maui Research and Technology Park.

The new space is more than double the previous school location. The property is located on 3 acres, and host students from grades kindergarten through high school. Due to limited funds and expired leases, most students have had limited in classroom classes since August, but have been learning through virtual school online.

Teachers formally had to share classrooms and offices were limited. With the new building not only will teachers get their own classrooms, but the band will have their own designated band room for practice. Other possibilities to add to the school include a fitness center with workout equipment.

Parts of the school are still under construction. As the needs of the school change they will have options of how to utilize the extra space. If your interested in donating to help the school, they are currently in need of cooking equipment.

 

Open Homes This Weekend!

We have some amazing properties open this weekend!

Open Today from 1:00 pm to 5:00 pm Wailea Ekolu #1405

Beautifully appointed 2 bedroom/2 bath vacation rentable furnished jewel. Enjoy picturesque ocean views and all the Wailea Golf Amenities and discounts!

Open Saturday and Sunday from 1:00 pm to 5:00 pm Walaka Maui #405

Fabulous ocean view! Remodeled! Walking distance to popular Charley Young Beach! YOUR OWN GARAGE! Rare 1 bedroom/2 bath condo at the end of a cul-de-sac. Low maintenance. Pet friendly!

Open Sunday from 12:00 pm to 4:00 pm 370 Kai Malu

Wailea Townhome Steal! Nicely maintained 3 bedroom/2.5 bath condo in a quiet cul-de-sac overlooking greenbelt. Wet bar and large extended lanai for entertaining. Pool, spa, sauna, steam & fitness center!

Real Estate Update

We thought a short update on Maui and the Real Estate market would be of interest to you.

If you look at sales data you will see prices are steadily and solidly increasing at a modest rate over the last 3+ years.  Island wide all properties are valued at $610,000 which is a 6.1% yearly increase.  Single family homes are valued at $674,885 which is a 3% yearly increase.  Condos are valued at $468,000 which is a 7.6% yearly increase.  Keep in mind that this is an average and that different areas may be more or less than this average.  The bottom line for Maui is that there does not seem to be a bubble in prices like other areas on the Mainland.  Time will tell.  Check on the complete Maui statistics at https://www.mauirealestate.net/real_estate_stats.html

Properly pricing a property for sale is essential!  Although there are a lot of factors that can affect days on market, properties that have been on the market for more than 6 months may want to consider a change in their pricing strategy.  Overpriced properties are sitting and can seem “stale” even when a price reduction is done. 

Have you heard?  The first phase of construction has begun on the new Kihei High School!  South Maui’s future high school is scheduled to open for the 2021-2022 school year.  A track and outdoor basketball and tennis courts will be part of the new campus.

Considering West Maui or popular Ka’anapali?  We are very excited about the newest project underway. It is called Luana Garden Villas which is part of the Honua Kai Resort.  Luana Garden is composed of 72 large three bedroom, three bathroom villas.  The Honua Kai property has a reputation for good rental history and fabulous pools, grounds and of course, the famous Dukes restaurant.  The Villas run from $1.9 to $2.4 million.  Building 1 has started going vertical, work on building 2 is well underway and prep for pouring slabs on buildings 3, 4 and 5 has also begun.  Call us for more info.

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

Clint Hansen 808-280-2764

Donna Hansen 808-280-1650

Bob Hansen 808-283-9456

Maui Luxury Real Estate LLC

The Hansen Ohana

dad@mauirealestate.net