June 2020 Newsletter

Hansen Ohana’s Maui News June 2020

Maui Luxury Real Estate LLC

Exciting news!  As we enter the Summer and also the end of the fiscal year, Maui is celebrating the August 1st welcoming back of our tourists again without the 14 day quarantine regulations IF you have passed the Covid testing three days before arriving on Island.  More details will follow as they are published but for Maui, we are excited to see all those who enjoy our Island.  Even with the difficulties that these passed few months have tested Maui with, we have continued to prove that Maui continues to be a loved paradise no matter what is going on in the world.  Maui’s real estate market has continued to be relatively strong, not perfect, but really good.

Our real estate update as of June 24, 2020:May continues to show a resilience in median sales prices.  Homes prices were up 13.5% since last year at $800,000.  Condos were up 33.3% from last year at $680,000.  Number of new listings were down about 15.5% for homes and about 18.8% for condos.  Inventory as well as pending sales for April remained low for both homes and condos.  For the first 22 days of June the market is still showing resilience with 51 properties pending for South Maui, 25 properties for West Maui, 12 properties for the North Shore, 14 properties upcountry and 47 properties pending for Central Maui.  With low interest rates and low inventory, the market appears to be continuing to improve.

Good news, lots of projects in many price ranges in many parts of Maui over the next ten years. Additional housing is needed on Maui for Maui residents. Just this morning we saw renderings of some workforce housing being conceptualized in Kapalua across from Pineapple Grill.   A project currently underway is the Wailea Hills development.  They have a portion of the 75 units for sale in 15 separate buildings.  They have beautiful floorplans, many with gorgeous views and good locations and underground parking.  Prices started in the mid $1.5’s million and up and seem to be selling pretty steadily.  You can view them virtually, just let us know.  For project info please email dad@mauirealestate.net  and we will send you the link.  In addition, there is an application for a Wailea Project consisting of 289 condos, 51 zero lot line homes, 92 duplex homes and 146 multi-family units of which 23 units could be short term rentals.

Whatever your preference of (for) location, climate, size, price range and use needs are, we will find it for you.  This is a perfect opportunity with interest rates low to move forward.  Our virtual tours, Facetime presentations have helped many succeed during this time.  You will feel like you are walking through them enjoying every possible detail.  We strive to utilize cutting edge technology with a personal touch and felt this would be a good way for people to view our listings, ask questions and perhaps find their dream house or a great piece of land to start planning your dream home.  Just go to our website at MauiRealEstate.NET

Low interest rates and mortgage relief are available.  Qualifications vary loan to loan as well as the potential impact to your credit, but it is important THAT YOU CONTACT A REPUTABLE LENDER AS SOON AS POSSIBLE if you are considering a refinance, new mortgage, or mortgage relief.  With so many potential buyers now glued to social media we have significantly increased our advertising online by offering additional video tours, and virtual open houses and tours as you can see by the links below.

Virtual Home Tours:

Maalaea Surf Unit E3   https://youtu.be/AGgg7qSvC68              

Grand Champions #163   https://www.youtube.com/watch?v=VO7MZy-XMyw&feature=youtu.be

Grand Champions #180   https://my.matterport.com/show/?m=aGmrbu7bgvQ&brand=0

Walaka Maui Unit 305   https://youtu.be/9bAnpHTTLdU                    

153 Hokai Pl. Kihei    https://www.youtube.com/watch?v=xhokgwLacs8&feature=youtu.be

65 Hale Noho Pl., Wailea  https://www.youtube.com/watch?v=E1Rt8DAT8_0&feature=youtu.be

Kai Makahi D-202, Kihei   https://www.youtube.com/watch?v=ur9xscX6i8o&feature=youtu.be

Kihei Shores I-202, Kihei   https://www.youtube.com/watch?v=Ioo7498OkOY&feature=youtu.be

Matterport Links.    https://www.mauirealestate.net/matterport/

 

May all good things come your way – laughter, gratitude, good health and good friends

 

             Bob Hansen PB R(B)            Clint Hansen BIC R(B)           Donna R(S)

              808-283-9456                           808-280-2764                     808-280-1650

Southwests Inaugural Flight

Southwest Airlines had their inaugural flight to Maui from Oakland on Sunday, April 7th. The first departure flight is schedule for today from Kahului back to Oakland. Starting on Wednesday, flights will increase to two flights per day in each direction.

Travelers departing the aircraft were greeted with lei’s, goodie bags, and food! Passengers described the crew as welcoming and the flight entertaining. Maui singer and songwriter Lily Meola was on board and played a few songs for the 175 passengers.

A special blessing was done on the aircraft after the passengers had disembarked. A lolo ana ceremony, traditionally done on new canoes,  was done by Kumu Kapono Kamaunu and Ua Aloha Maji. The ceremony is meant to bring a connection between the pilots and crew to the land.

Service on Southwest to Maui from San Jose will begin at the end of May. Dates for service from Sacramento, San Diego, and Lihue will be announced in the future.

Maui Visitor Numbers Continue To Climb

With an increase of over 6% in 2017, the number of visitors traveling to Maui could hit the 3 million mark for 2019. Visitor spending also increased by over 8% to $5.07 billion.

Hawaii overall is expected to surpass 10 million visitors for 2018. This is an increase of 1.8% according to the Department of Business, Economic Development and Tourism. Expected visitor spending is over $19 billion. There was on average 242,629 visitors in the Hawaiian Islands on any given day during 2018.

In an effort to balance the impact of so many visitors, changes in promotional tactics have been started. New videos focusing on the cultural appreciation, ocean health and safety, have started playing on social media, resort websites, and in hotel rooms.

October Tourism Survives Storms

Maui had growth in both visitor spending and visitor arrivals for the month of October in comparison to the same time last year according to the Maui Visitors and Convention Bureau.

Although visitor spending was down in August and September due to Hurricane Lane and Tropical Storm Olivia, spending was back up in October to $377 million. Even with the storms interrupting the months of August and September, for the 10 month span of January through October visitor spending was up 10.9% to $4.26 billion. This total puts Maui on track to break last year’s record.

Air travel to Maui has increased making it an easier destination for visitors which will in turn increase the amount of visitor spending. Although the tourism industry is fragile and affected by multiple sources, Maui remains focused on continuing to make Maui a top global destination.

Visitors Increase For Lanai And Molokai

Lanai had a 19.1% increase in visitors for the month of July as compared to the same time last year. Spending on Lanai increased over the year a whopping 67.9% to $8.6 million.

Molokai also saw increases in visitors and expenditures. Visitors increased by 32.2% and spending increased 109.5%.

The increase in Lanai is due largely to new visitors coming and staying at the recently redone Four Seasons Resort Lanai. The resort, formally the Manele Hotel, reopened in February 2016.

Overall vistors have increased 5.3 percent statewide. Visitor spending also grew to 4.8% in July, and 9.8% for the year to July totals.