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!

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

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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