Maui Statistics Year To Date

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings.

Although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving.

New Listings increased 8.7 percent for Single Family homes and 13.9 percent for Condominium homes.

Pending Sales increased 4.9 percent for Single Family homes and 22.0 percent for Condominium homes. Inventory decreased 7.7 percent for Single Family homes and 19.4 percent for Condominium homes. Median Sales Price decreased 2.3 percent to $650,000 for Single Family homes but increased 14.4 percent to $433,750 for Condominium homes.

Days on Market decreased 20.9 percent for Single Family homes and 5.7 percent for Condominium homes. Months Supply of Inventory decreased 17.5 percent for Single Family homes and 29.2 percent for Condominium homes.

Last year at this time, the national storyline was about how high demand was propping up sales and prices despite low inventory and months of supply. That has actually continued to be a familiar refrain for many months in 2017 and now for the past couple of years. But with the likes of Hurricanes Harvey and Irma, different employment outlooks, disparate incomes, varying new construction expectations and potential housing policy shifts, regional differences are becoming more prevalent and pronounced.

Makena Resort Moves Forward

Maui Planning Commission is receiving praise for unanimously approving the SMA (special management area) for the $354.5 million Makena Resort.

The project was scaled down from 158 units to 134 units. These will include multifamily units, cottages, custom lots, and commercial space.

The project cut three multifamily buildings, two cottages, and one vacation rental unit. Lots for custom homes were moved and parking for the beach was increased.

Commissioners were won over by the attention to the community the project gave.  The resort has generated 160 jobs during the construction phase, and approximately 145 jobs will result from resort operations.

Contact the Hansen Ohana today to learn more about the Makena Resort.  You can read the entire article via the Maui News here.

Makena Development Project

If you are interested in Makena’s Discovery Land Developments, need additional information or wish to view the project, contact us at Hansens@MauiRealEstate.net.

Project construction has begun on the new Makena Golf & Beach Club.  This private beachfront community is will house 50 condominium units, a brand new restaurant, pool, spa, and common area. The estimated cost of the project is $240 million.

The project, headed by Discovery Land and Good Fellow Bros., is expected to generate 270 construction jobs.  The project should take approximately 3 years to complete.  First occupants are expected in late 2018.

To read the entire article, visit the  Maui News website here.

Wailea Beach Villas Penthouse 404

EXTREMELY RARE PANORAMIC ocean view Wailea Beach Villa penthouse in quiet location. Gated entry with the finest and highest rated property on Maui. Luxuriously and fully furnished this two bedroom, two bath with den. Dream popular vacation rental offers Hawaiian living at its best. Amenities include pools, spas, fitness center, billiard room plus easy access to Wailea Beaches and The Shops.

Wailea Beach Villas Penthouse 404

Congratulations Bob Hansen!

bob

Maui Luxury Real Estate LLC is proud to announce that Bob Hansen, Owner and Principal Broker was announced as an elite top-selling agent by The Asian Real Estate Association of America and is a 2015 “A” List Honoree!

The Asian Real Estate Association of America (AREAA) is a non-profit professional organization that promotes nationwide homeownership opportunities to International buyers. As exclusive members of AREAA we are able to network with industry leaders worldwide

We are grateful to our valued clients for their continued support. Your referrals and repeat business are what make our company successful. We thank you for your trust and support! Congratulations to Bob and The Hansen Ohana team!