Howard Dicus from channel I shows a breakdown today on occupancy for vacation rentals.
Tag Archives: maui hawaii
Events Coming Up!
Week of June 25, 2023
- Kī hō`alu Guitar Festival June 25, 2023 3p MACC/Yokouchi Pavilion and A&B Amphitheater
- Sunset Jazz June 25, 2023 5p-7p Maui Ku’ia Estate Chocolate Factory, Lahaina
- Maui Film Festival presents: Stardust Cinema June 28- July 2, 2023 5p MACC/Yokouchi Pavilion and A&B Amphitheater
- Ke Kani Hone O Wailea-The Sweet Music of Wailea-Sean Naauau June 30, 2023 5:30p-7p Shops of Wailea
- A Rock & Roll Cabaret July 1, 2023 8p da Playground, Maalaea
Enjoy the spirit of Makawao this Saturday!
This year’s Makawao Parade, which kicks off a week-long celebration before the Makawao Stampede Rodeo, is returning. The parade departs from Makawao Elementary School at 9 a.m. on Saturday and ends at Makani Road. A stick horse race for adults and kids will take place at 8 a.m. in front of the Designing Wahine Emporium on Baldwin Avenue, among other exciting activities. During the parade, there will be road restrictions. Baldwin Avenue will close from Kee Road to Makawao Avenue at 7:45 a.m., and the intersection of Baldwin Avenue and Olinda Road will close to Makani Road at 8:45 a.m.
At 1 p.m., the Oskie Rice Events Center hosts the Makawao Stampede Fest Country Concert following the procession. Renowned performers including Melveen Leed, Waylon Nihipali, Above Snake Country, Pa’ani Olos, and TJ Fevella with the Plantation Kids will perform for the audience. ETIX.com is the place to acquire concert tickets. A variety of fun events are planned throughout the week, including a cowboy barbecue on Tuesday at Stopwatch Bar & Grill, a chili challenge on Wednesday at the Oskie Rice Arena, and discounts on steaks at Casanova Maui on Monday. Live music, snacks, and free vanilla ice cream for kids are all part of the “Music on the Lawn” celebration on Thursday near Designing Wahine. On Friday at 9 a.m. at the Oskie Rice Arena, free rodeo qualifications kick off the Makawao Stampede Rodeo. The gates open at 4, a country concert starts at 5, and a bull fight starts at 7. The rodeo continues on July 1 and 2, with gates opening at 10 a.m. and pre-rodeo entertainment beginning at 11 a.m. Tickets for the rodeo and associated activities can be purchased via ETIX.com.
More information available via the Maui News here.
New Beginnings
As the sun shines bright on the first day of summer, embrace the warmth of fresh starts.
The Sun sets on the West Maui mountains on the first day of summer!
Wailea Traffic Light Goes Live
| Thank you to Wailea Association for the following Update:
The permit project to install a traffic signal at the intersection of Piilani Highway and Okolani/Mikioi Streets is near completion. The plan is to go into a yellow/red flashing mode June 23 to June 26, 2023. This three day flashing mode is a requirement prior to turning the traffic signal on, which is June 26, 2023. |
Housing Market Statistics
NATIONWIDE
Existing-home sales have declined for the second consecutive month, dropping by 3.4% nationwide due to higher interest rates affecting buyer affordability. Compared to the same period last year, sales are down by 23%, and contract signings have decreased by 20.3%. While some regions have seen declining sales prices, nationally they have decreased by 1.7% year-over-year, although more affordable markets continue to experience price gains. With limited supply and homes selling quickly, the average time a home spends on the market is slightly over three weeks, according to the NAR.
MAUI INFORMATION
New listings have decreased for both single-family and condominium homes, while pending sales increased for single-family homes but decreased for condominiums. Inventory has increased for both types of homes. Median sales prices have risen for single-family homes and condominiums. The days on the market have decreased for single-family homes but increased for condominiums. The months supply of inventory has increased significantly for both types of homes. The combination of fluctuating interest rates and low inventory levels has contributed to lower home sales, as potential sellers are waiting for better market conditions.
BIG ISLAND INFORMATION
Compared to May of the previous year, less new listings for single-family houses, condominiums, and land were added to the Big Island real estate market. With 188 homes sold and a median sales price of $495,000, single-family homes had 508 active listings, 248 new listings, and 508 homes that were taken off the market on average after 64 days. Condominiums had 57 sold units, 69 new listings, 73 active listings, and an average of 54 days on the market. The median sales price was $550,000. With 1,148 current listings, 245 new listings, 202 sold lots, and an average of 105 days on the market, land had a median sales price of $34,250. All property types saw a decline in new listings overall, with condominiums having the highest median sales price and land taking the longest to sell.
OAHU INFORMATION
Sales of single-family homes and condos both decreased in April 2023 on O’ahu compared to the same month last year, by 43.0% and 37.5%, respectively. The dip in sales was 11.9% for single-family homes and 5.4% for condos, which was less drastic than March’s downturn. Despite the drop in sales, houses that were sold in April remained on the market for a shorter period of time than they did in March. Condos had a decrease in their median days on the market from 24 to 20, while single-family homes saw a fall from 36 to 24. Single-family homes decreased by 9.5%, and condominiums decreased by 2.0%, as measured by median sales prices. The market is generally stabilizing following the rise in interest rates and inflation, which is causing slower sales momentum but stable median prices because of low inventory.
Hawaii Real Estate Blog 
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