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Summer 2014 Newsletter

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Maui Luxury Real Estate LLC ~ http://www.MauiRealEstate.NET ~ 808-879-3667

Aloha!

We have so much to share with you, each item is very exciting.  “U.S. NEWS & World Report” has named Maui as the best place to visit in the U.S. and the fourth best place in the world!  This is not news to most of us but is terrific for Maui to continue to be recognized.

More exciting news:  We opened our new office at The Wailea Town Center in Suite A-106 right next door to Matteo’s Osteria.  We are waiting for a few aerial maps for the walls but are open Monday through Saturday.  We also have expanded our business to include “Maui Luxury Real Estate, LLC”.  Please come visit us.

For an Economic Update, Bob and Clint attended a recent economic report by Paul Brewbaker at the State of Hawaii 100 Top Realtors meeting on Maui in June.  At that meeting Mr. Brewbaker reported that Maui should fare well in home price increases over the next several years.  He feels that prices should be in the 7% to 10% range until at least the early 2020’s.  As you recall we had unsustainable increases in prices in 2004, 2005 and 2006 which was over 20% per year.  That is what creates a bubble.  Our current increases in prices at 7% to 10% are sustainable at least for the short term.  This is especially true for Maui as the demand for new housing is estimated at over 850 units per year (not even including mainland and foreign buyers) but there are estimated to be only about 350 permits issued per year.

With the projected increases in interest rates and the small increases in rates recently, it should spur some buyers who have been sitting on the sidelines.  For a complete detailed report here is a link http://www.ramaui.com/UserFiles/File/Stats/All-June2014.pdf

Paul Brewbaker’s idea on a way to increase affordable housing is to encourage developers and anyone to go ahead and build as many homes as possible at or below the median sales price which is currently at $575,000.  The current County rules on affordable housing are causing less affordable housing not more.  The County currently wants developers to provide 50% of any subdivision to be (in their definition) of what is affordable which is even lower than it should be.  All this does is to push developers to pass on building on Maui and build where there are way less restrictions.

So what does all of this do?  Due to decreasing supply and increasing demand prices will more than likely increase.

UPDATES ON NEW PROJECTS:

GROCERY STORE AT THE SHOPS:  The Island Country Market on the north side of the Shops is well under construction.  What a wonderful convenience that will be to all of us!

THE WAILEA BLUE CLUBHOUSE: Construction has begun on expanding the clubhouse next to Manolis.  The opening date is currently scheduled for October.

THE MONTAGE in Kapalua now has units available for sale starting at $1.9 to $8 million.  We have floor plans and pricing information available at our office or by email.  Interest has been strong and units are already under contract.

HONUA KAI in Ka’anapali continues to be extremely popular with very little developer inventory remaining.  We have represented 3 buyers in Honua Kai this year and would love the opportunity to represent you or someone you know who might be considering buying or selling.  We have extensive island wide contacts and experience and are always on the lookout for great opportunities for our clients.

FOR INFORMATION ON UPCOMING PROJECTS:  Email dad@MauiRealEstate.net or call us!

Our success is dependent on the loyalty of our friends and clients.  We are here to assist you with all your real estate needs and are available as your market resource, so please feel free to call us.  We always appreciate your referrals and hope to see you at our office soon!

Enjoy the remaining days of summer!

Donna, Bob and Clint

Bob Hansen, Owner and Principal Broker
Donna D. Hansen, Realtor (S)
Clint Hansen, Realtor (S)

 

Maui Luxury Real Estate, LLC

161 Wailea Ike Place, Wailea Town Center Suite A-106

Office 808.879-3667   |   Fax 808.442.0945   | http://www.MauiRealEstate.NET

Have You Seen “A”?

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A

 

The beautiful 394 foot white yacht named “A” has been seen off the Maui shoreline this weekend.  Owned by  Russian billionaire Andrey Melnichenko the yacht is estimated to be worth over $300 million, has over 23,000 square feet of living space, and costs over $20 million a year to maintain.   According to Hawaii News Now, the vessel had been spotted off Honolulu and Kona before making its way to Wailea.    You can watch a video tour of the luxury vessel via the Wall Street Journal here.

Kaanapali Golf Maui

Golfing on Maui

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For the novice golfer, or the expert driver, Maui has some of the most beautiful golf courses to accommodate any level of play.  Some of the courses have made “World Bests” lists.

Kapalua Golf is the home of the PGA Tours Hyundai Tournament of Champions. Continually ranked the number 1 course in Hawaii, this is a course the family can get involved in.  Clinics are available for the ladies, as well as weekly keiki clinics. The Kapalua Golf Academy is constantly ranked in the top 25 golf school by Golf Magazine.  After a day of golf most will have worked up an appetite! Dining options are available offering a variety of Hawaii cuisine with gorgeous views!

Golfing at Wailea Golf Club gives you options for three different courses.  The Emerald course has earned Wailea Golf the Top Fairways Award for the most women-friendly club.  Special packages available for stay and play promotions. Whether hitting the courses, shopping the pro shop, or dining at one of the fabulous eateries  your sure to have a fun-filled day or even week!

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If you need a little cooling down, but still want to hit the courses, Pukalani Country Club in Upcountry is the golf course you’re looking for.  Built at 1,100 feet elevation on the dormant Haleakala volcano , the meaning of Pukalani “Entrance to Heaven” is compelling.  The country club’s scenic greenery is set on approximately 160 acres.

The Dunes at Maui Lani  is considered one of the best kept secret golf courses. The Dunes will be hosting the Maui Open this November.  With its special link design, the course can present some very challenging holes.  Special anniversary rates now through December as well as Kama’aina rates.  Events for small and larger groups are also available.

With so many golfing options to choose from we are sure you will find a course you’ll love!
Sunset Golf Photo: Kaanapali Beach Resort Association

Maui Kula Laveder Farm

Enjoying your Mother-Daughter Vacation On Maui

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Maui with Mother DaughterSpending quality time with children is always a treasured gift.  Many mothers and daughters spend special quality bonding time by traveling to Maui for vacation.  For most, relaxing on beautiful sandy beaches is the number 1 priority of their trip.  Others want to see sights, shop, or have an adventure.  Here are some tips for things to do and see while on your mother-daughter vacation on Maui.

If you enjoy painting and being artistic, you would enjoy an Island Art Party!  Create your own keepsake from your Maui getaway.  Sessions typically run 2-3 hours.  All the supplies you need are included in the price.  Be sure to make a reservation!  Varies times and classes available so check out their website.

Getting pampered on your vacation is always a must.  Who wouldn’t enjoy the royal treatment with facials, massages, or a pedicure!  The Grand Wailea Spa offers a truly luxurious atmosphere to be spoiled for the day.  The Grand Wailea Spa was voted one of the Top 10 spas in the United States by Conde Nast Traveler.  The Ritz-Carlton allows you access to the spa facilities for the remainder of the day when you have a scheduled treatment.  They even offer summer spa specials.  Hair services, skin care and various massage packages are all available.

Enjoy a gourmet picnic lunch at the Alii Kula Lavender Farm.  After exploring the beauty of the lavender farm, or joining one of the daily guided tours a basket lunch with a variety of sandwiches and salads will curb your appetite!  Also included is your beverage choice and a lavender infused dessert!

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Take advantage of your mother-daughter time with a fun day of shopping!  Exclusive boutique shopping can be found at The Shops at Wailea.  Various retailers, art galleries, and dining can be found at The Shops.  Whalers Village has a little of everything to offer.  Shopping, dining, and a calendar of activities available for that month.  Boutiques, surf shops, and art can be found in Pa’ia for a unique shopping experience like none of the others.  After a full day shopping there are a number of eateries to choose from. Pizza, burritos, or fish are all available.

Not all vacationers are looking for rest and relaxation.  Those that are looking for adventure can check out Adventure Maui.  Here you will find information for everything from helicopter tours, snorkeling, deep-sea fishing, and surf lessons.  This is a great resource in helping you plan activities and make advance reservations.

Maui offers a variety of both adventurous and leisure activities for all to enjoy!

Hansen Ohana Economic Report

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Hansen Ohana Family MauiWe attended a recent economic report from Paul Brewbaker at the State of Hawaii 100 Top Realtors meeting on Maui in June.

At that meeting Mr. Brewbaker reported that Maui should fare well in home price increases over the next several years. He feels that price increases should be in the 7% to 10% range until at least the early 2020’s. As you recall we had unsustainable increases in prices in 2004, 2005 and 2006 which was over 20% per year. That is what creates a bubble.

Our current increases in prices at 7% to 10% are sustainable at least for the short term. This is especially true for Maui as the demand for new housing is estimated at over 850 units per year (not even including mainland and foreign buyers) but there are estimated to be only about 350 permits issued per year.

With the projected increases in interest rates and the small increases in rates recently it should spur some buyers who have been sitting on the sidelines.

Paul Brewbaker’s idea on a way to increase affordable housing is to encourage developers and anyone to go ahead and build as many homes as possible at or below the median sales price which is currently at $575,000. The current County rules on affordable housing are resulting in less affordable housing, not more.

The County currently wants developers to provide 50% of any subdivision to be (in their definition) affordable, which is even lower than it should be. This seems to have pushed developers to pass on building on Maui and build where there are less restrictions.

So what it does all mean? Supply and Demand. Economists’ indicators are for increasing prices.