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Maui Luxury Real Estate LLC ~ The Hansen Ohana. ~ Maui Update Aloha All, We are grateful to all of you for your support over the years. We know that you have probably heard about the devastating wildfires on Maui. With the hurricane passing well south of Hawaii, and a huge high-pressure area to the North, it did create 70 to 80 mile per hour winds. Along with a long drought this created perfect conditions for a devastating wildfire. It happened. In Kula and Makawao area fires broke out which threatened to destroy a lot of property. Fortunately, our fire department was able to minimize the damage. Kihei had fires break out but again the fire department was able to keep damage from spreading out further. Lahaina was not so fortunate. Historic Lahaina Town was completely destroyed. As of today 8/14/23 there were 96 known deaths and over 2700 homes gone. People died in their cars trying to escape. Otheres were diving into the ocean to escape the flames. Most were saved by the few boats that were able to escape the flames that swept over the town and the harbor. To assist those who are searching for their property, Clint was able to take a lot of videos so that populations could view the different areas damaged. Many people have been able to view the areas where their property is located to see if it remains standing or has been burned. This allows those affected to avoid physically viewing their properties to know if they should return to the property or remain away during these chaotic times. For many on the Mainland unable to return, they also can view their areas of concern. Below are links to various neighborhoods and an interview with two survivors. It is unreal. They are split into short clips to show the different areas of the Lahaina destruction. https://www.facebook.com/watch?v=6590040087744475 This next one is an interview with survivrs of the Lahaina Fire and how they helped. It is unbelievable. Certainly, it’s evident that the process of restoring Lahaina Town and the other areas impacted by these devastating fires will span over several years and require a significant amount of effort and support. Our hearts ache for the lives lost during this tragic event. It holds significance to bear in mind that Maui still possesses untouched regions where its tropical splendor thrives. While these are challenging times, the enduring spirit of Aloha on Maui remains vibrant. Your support is invaluable and can be directed towards Https://MAUIUnitedWay.org/disasterrelief If you would like a copy of our newsletter to share let us know at dad@mauirealestate.net Bob Hansen PB R(B) 808-283-9456 RB-17532 Clint Hansen BIC R(B) 808-280-2764 RB-21616 Donna D. Hansen R(S) 808-280-1650 RS-49765 |
Tag Archives: maui
Road Opening
Access to the Lahaina Bypass in West Maui will be available to locals, emergency personnel, and West Maui employees beginning at 6 p.m. tonight. The route will be accessible to all traffic from 6 a.m. to 10 p.m. every day, with residents, first responders, and workers being the only ones allowed access at night. Officials emphasize restricted access for necessary uses and provide priority to residents, first responders, and medical professionals.
Article via the Maui News here.
FEMA Disaster Assistance
All individuals who were impacted by the Maui fires should apply for FEMA assistance. Visit DisasterAssistance.gov or call 800-621-FEMA (3362) to apply.
USPS has announced that, effective immediately, Lahaina residents can pick up their mail at the Wailuku Post Office.
July Stats
Significant changes have happened in different property categories in the Maui real estate sector compared to the previous year. The single-family home market had 451 transactions, a significant fall of 32.2% from the previous year. The median sales price for these properties was $1,150,000, representing a 2.1% decrease. The entire sales value was likewise reduced by 32.2%, reaching $821,757,280. Similarly, the condominium market witnessed a 45.6% decrease in sales, with a total of 586 units sold. However, median sales prices increased 10.5% to $840,000, indicating a favorable trend. Despite this, the overall value of condominium sales fell 42.1% to $672,600,274. There were 100 sales in the unoccupied land sector, with prices ranging from $2.2 million to $860.0 thousand. The median sales price for empty land was $725,500, a 6.6% decline, while the total sales value was $129,807,993, a 29.7% decrease. These figures show a dynamic and changing real estate market in Maui, with changes in sales volumes and median sales prices across single-family homes, condominiums, and unoccupied land.
The Hawaii real estate market has undergone significant changes in many property sectors. The number of single-family house sales has dropped by 32.3%, reaching 1,137 purchases. The median sales price of these residences fell 0.2% to $499,000, while the total sales value fell 35.6% to $919,097,796. Similarly, the number of sales in the condominium sector fell by 32.4% to 386. The median sales price, which reached $589,500, did, however, rise by 2.5%. Despite this, the total value of condominium sales fell by 37.5% to $365,976,353. The unoccupied land sector saw a 35.2% fall in sales, totaling 1,156 transactions, and a 14.6% decrease in median sales price, now standing at $41,000. The overall sales value of empty land has likewise decreased by 39.2% to $213,524,524. These numbers point to a difficult real estate market in Hawaii, with lower sales activity and different variations in median sales prices among single-family homes, condominiums, and unoccupied land.
Oahu has seen significant shifts as well. There were 1,654 sales in the single-family house segment, a considerable decline of 28.6% from the previous year. The median sales price for these residences was $1,030,000, a 7.6% decrease from last year, and the total sales value was $2,123,115,419, a 35.4% decrease from the previous year. The condominium market reported 2,846 transactions, representing a significant 33.2% fall in sales. The median sales price for condos was $500,000, a 2.6% decrease from the previous year, while the total sales value was $1,743,734,508, a 33.2% decrease from the previous year. There were 44 sales in the unoccupied land sector, representing a significant 40.5% reduction from the previous year. The median sales price for empty land was $747,500, a 4.5% decrease, with a total sales value of $75,208,236. These figures show a changing real estate landscape on Oahu, with lower sales volumes and variations in median sales prices for single-family homes, condominiums, and unoccupied land.
In the Kauai market there were 170 sales in the single-family house category, representing a 47.7% decline from the previous year. The median sales price for these residences was $1,100,000, representing an 8.3% decrease, while the overall sales value was $267,112,809, representing a dramatic 60.5% decrease from the previous year. The condominium market saw 186 sales, representing a 33.8% reduction in the number of sales. The median sales price for condos was $697,000, a 3.9% decline from the previous year, while the total sales value was $170,231,628—a 32.0% decrease from the previous year. There were 57 sales in the unoccupied land category, a 36.7% decline from the previous year. Interestingly, the median sales price for unoccupied property climbed by 28.6% to $900,000, but the total sales value decreased by 37.7% to $74,786,200 from the previous year. These data show a changing real estate landscape in Kauai, with lower sales activity and different changes in median sales prices among single-family homes, condominiums, and unoccupied land.
Events This Weekend
Events
Friday August 4 Felix and Dingers Dueling Piano da Playground
August 4-August 6 Back to School gift with purchase Maui Mall Village
Saturday August 5 Maui Fit 2 day fitness retreat
August 5 weekly dog adoptions Maui Mall Village
Saturday August 5 5:30-7 pm Jazz at the Shops at Wailea
Saturday August 5 Sounds of Jam da Playground
Hawaii Real Estate Blog 