Maui Luxury Real Estate LLC ~ http://www.MauiRealEstate.NET ~ 808-879-3667
Aloha!
First, we wanted to remind you of our Annual Hansen Ohana Toy Drive! Donations can be dropped off at our office 161 Wailea Ike Pl. #A106 or call us 808-879-3667 and we will work with you to pick up your donation. Know that all toys and donations collected will be given to foster children and other children in need living in Maui County via the “Friends of the Children’s Justice Center of Maui”. Your donations and generosity are greatly appreciated!
Montage at Kapalua – Premiere Oceanfront Kapalua Condominiums – we recently toured the newest villas completed. The views are breathtaking! Prices for the Fractional interests (two and three bedrooms) start at $350,000. For full ownership prices begin at $3.4M.
Keala O Wailea – Upcoming Condominium Project in Wailea, starting their non-binding reservations list now! Two and three bedroom non-vacation rentable condos, most with breathtaking ocean views. Prices not published yet, but hoping final approvals will be coming very soon.
Oceanfront Makena Lots – coming to the market within days. Spectacular lots.
Wailea Golf Estates II lots – coming to the market within weeks. Convenient and prices should be excellent.
New Kihei Condominium Project – Elleair Golf Course has been sold and is now known as Maui Nui Golf Course. The adjoining project Nu’u Aina will start “dirt work” has begun. Bob and Donna attended the groundbreaking ceremony. There will be 68 luxury residences.
FOR INFORMATION ON UPCOMING PROJECTS FOR SALE and to be added to the New Projects Update list, email us at Hansens@MauiRealEstate.net.
ECONOMIC UPDATE:
With the recent increase in volatility in the Stock Market we are seeing increased activity by real estate investors and buyers who have been sitting on the fence. Interest in Maui real estate has been particularly high for many reasons, including its popularity as a safe destination of choice, increased direct flights, and the Island’s good underlying economics for real estate with inventory shrinking and demand increasing following many leading economists’ predictions.
Statistics for the previous month’s real estate activity here on Maui indicate days on the market was 90 days for Residential and 93 days for condos with inventory slowly declining. Some of the market sectors would be considered to be a Seller’s market. Median sales prices for residential over the last year was up 7% from $531,000 to $570,000 while Condos increased 12% from $375,000 to $420,000.
On another note while Maui average prices on Homes generally increased by 17%, Wailea Home prices took a little dip by 7% while Napili and Lahaina were up over 42%. Kihei was up 24%. Interestingly for the last several months about 44% of all sales were CASH. Today, however, with the low rates available and some new loan programs being introduced we are seeing increases in the amount of financed offers.
The most recent move by loosening up down payments should also add fuel to the fire. Many buyers are hoping to secure a property before our quickly approaching “high season.”
For a complete detailed report here is a link http://www.ramaui.com/UserFiles/File/Stats/All-September2014.pdf
MORE UPDATES:
The Wailea Beach Villas has topped the Conde Nast Reader Choice awards for Top 25 resorts in Hawaii. Additionally, Wailea Beach Villas was the only resort from the islands to be featured as one of The Top 25 Resorts in the United States. More than 76,000 readers participate in the survey. The Villas can only best be described as “lavish” with an emphasis from management on excellence and continually striving for higher standards for guests. Villas range in size from 2 to 5 bedrooms spread out on 11 acres.
The Hansen Ohana has extensive experience representing buyers and sellers in the Wailea Beach Villas. Bob Hansen represented the buyer and seller of the largest single sale at the Wailea Beach Villas. Additionally Clint Hansen has represented 3 sets of buyers at Honua Kai (ranked 3rd by Conde Nast!) just so far this year, in addition to the buyers and sellers that the Hansen Ohana have represented previously. Contact the Hansen Ohana today if you or anyone you know is interested in buying or selling property on the islands!
KEEP UPDATED: Our blog on our website www.MauiRealEstate.NET posts continual pertinent information about Maui and Hawaii.
As always, we appreciate your loyalty and referrals. Come visit us at our office any time.
Have a wonderful fall season!
Bob, Donna, Clint and The Hansen Ohana Group
Bob Hansen, Owner and Principal Broker
Clint Hansen, Realtor Broker
Donna D. Hansen, Realtor (S)
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