March was an interesting month for the Maui real estate market, to say the least. Based on the data released by the Realtors Association of Maui, single-family home sales shot up 60 percent, compared to the same month last year. The growth came in conjunction with an increase in inventory.
In the midst of this surge in sales, the median price of a single-family home on Maui also increased, and by no less than 14.3 percent, year-over-year. Between the price and sales increases, March was a powerful month for both buyers and sellers, generating strong momentum for the real estate market. The island has also seen a respectable level of commercial real estate investment activity over the past few years, choices that are likely being celebrated after last month's performance.
The number of Maui home sales tallied at 101 compared to 63 last year, while median prices settled at $769,000, which is the highest it has been since 2006. Meanwhile, median condo prices fell 16 percent to $390,000, compared to $465,000 in the same month last year. At the same time, the number of sales increased 15 percent to 130.
The report also provides data on prices in the various areas of Maui. The Wailea and Kapalua areas saw the highest median prices, while areas like Central Maui and Makawao/Olinda/Haliimaile were among the most affordable. You can find the specific medians at www.ramaui.com, but keep in mind that they aren't very significant, as they're based on a small number of sales, which can cause the numbers to swing heavily.
Based on RAM Chief Staff Executive Terry Tolman's explanation of the trends, inventory was up for the high season, which extends from December to March, and has begun declining. This is a normal part of the real estate market's yearly cycle. There are still some excellent listings on the market, for the right buyer. If you need our assistance finding the right Maui property, our contact information is located at the bottom of the page. We would be happy to help. Mahalo!
Like anywhere else, Maui's finest luxury properties are often found in certain parts of the island. According to the Realtors Association of Maui, last year's areas with the highest median home prices were Wailea/Makena with $2,825,000 and Kapalua with $2,562,500. They normally hold the top two positions in terms of luxury real estate, but sometimes, you'll find a particularly remarkable property in an unexpected area. This week, we'd like to throw a spotlight on a luxury home with a special location.
The Lauhoe home is located on the lower slopes of the West Maui Mountains, just south of historic Lahaina Town. Just for a bit of background, Lahaina has a delightful collection of properties, and the median home price was $760,000 last year. By contrast, this stately home is listed at $3,995,000, boasting 3,543 square feet of living space on 5.43 acres all its own. These are just numbers. It isn't just the home's location that makes it interesting. It's quality stands out as well.
The elegance of the carved mahogany double door entry reflects a subtle island flair that stays with you as you roam the interior. The home's location on the lower slopes of the mountain give you breathtaking panoramic vistas of the ocean, the neighboring islands and those famous flaming Maui sunsets. The breezy, wide open floor plan brings all the majesty of the outside in, providing a commanding perspective on the views below.
The infinity edged saline pool is the perfect place to relax and enjoy the space and the sights, while the shaded lanais provide a comfortable respite from the heat of the sun. With its five beautiful acres of mature, thoughtful landscaping comes excellent privacy. For example, the ground floor bathroom is shielded by charming rock walls with a low canopy of palm fronds for that secret grotto feel, so you can enjoy the soothing tub and walk-in shower without care. The grounds also feature fruit and plumeria orchards, which add interest to the scenery. Nestled into the landscape, you'll find a 1,008-square-foot cottage with its own spacious lanai and arresting ocean views.
The main home has a truly splendid kitchen, fit for a discerning chef who enjoys a balance between style and substance. The cabinets were made from mahogany and mango woods, the counters are granite, and the stainless steel appliances are top of the line. The walk-in pantry simply begs to be stocked with supplies and ingredients for exquisite meals.
Stroll through this home and you'll discover how its meticulously crafted design and quality materials make it shine. Features like African mahogany woodwork, travertine and tiger wood floors, vaulted mahogany ceilings, and Venetian plaster enhance the aesthetic throughout. Despite all of the elegance, the stucco exterior and concrete roof tiles make maintenance easy, as do the broad windows and pocket doors made from powder-coated aluminum clad mahogany. Among its most convenient features are the central vacuum, the full house water softening system and the ground mounted, net metered photovoltaic system.
This luxury Lahaina home is a rare gem with a great deal to offer the right buyer. If you're interested in scheduling a viewing, or you have any questions about it, you'll find our contact information at the bottom of the page. We would be happy to assist you. Mahalo!
It's true that we often showcase West Maui real estate, and have done so for years. Two of our offices are located in that part of the island, but after our recent expansion, we now have a Central Maui office as well. Moving forward, you can expect to see a broader selection of interesting properties highlighted from all around the island, including coveted locations like South Maui.
Based on recent reports from the Realtors Association of Maui (RAM), the median price of a Kihei condo was $475,000 in January and $403,900 in February. Below are two of our newest listings, which were featured recently for their price and quality by mauinow.com, a respected news agency.
South Kihei Condo for Sale – MLS 373495
Priced at $399,000, this Maui Sunset condominium has been used exclusively by its caring owners, but could easily become an ideal vacation rental. A cozy one-bedroom, two-bathroom unit, its view features the spectrum from mountain to garden to ocean. The amenities on the property include a large heated pool, a jacuzzi, shuffleboards, a workout room, a putting green, a sauna, and BBQ areas. Conveniently, the property also features an activities booth that operates seven days a week. Located nearby are miles of white sand beach.
North Kihei Condo for Sale – MLS 371282
Also listed under the median price of a Kihei condo, this one just came up for $402,000. This affordable North Kihei condominium is within a brand new development located at the Flats at Kamalani, which includes a lovely collection of listings. The unit boasts a full-sized washer and gas dryer, a gas range and oven, private yards, and two parking stalls, among other desirable additions. The property, meanwhile, will add more units as the project progresses into its next phase. As an affordable home listing, it has an income cap for prospective buyers, which is $114,100 a year.
If you're interested in either of these condos, we'd be happy to answer any questions you might have about them, and to schedule a viewing. If you're in the market for real estate in another part of the island, we would be happy to assist you in your search as well. You'll find our contact information at the bottom of the page if you should need us. Mahalo!
An exciting trio of bills passed the House Higher Education Committee this week, each of them designed to sustain the Hawaiian language in the state educational system. The Hawaiian language is a vital piece of our heritage, although it has been on shaky footing for many decades. This choice to take steps to strengthen its important place in our education system may be the thing to help foster a resurgence in its use.
You may be reading for information on buying a Maui home, but if you plan to live and perhaps raise a family here on the island, the outcome could have an important influence on your keiki (children) for years into the future. There is only one Hawaii, and if our keiki don't learn it here, who will?
Luckily, this issue is currently getting the attention it deserves thanks to folks like ʻEkekela Aiona, the Executive Director of the ʻAha Pūnana Leo, which provides Hawaiian medium early learning to 13 preschools throughout Hawaii, along with two infant-toddler programs. Aiona testified on the measures at the committee hearing, emphasizing the importance of keeping the Hawaiian language alive in families through the generations.
Committee Chair Angus McKelvey of the 10th District, which includes North Kihei, Ma'alaea and West Maui, explained that these bills will help provide concrete opportunities for students to learn the Hawaiian language all the way up to the university level, revitalizing its use in our culture. Meanwhile, Aiona pointed out the responsibility of our state government in helping to re-normalize Hawaiian as one of our official languages.
Here is a brief summary of each bill. If you're interested in learning more about them, you can click the links below.
SB 848 SD2 HD1: This bill would expand the Hawaiian Language College's functions, and would create a Hawaiian language medium general education coursework pilot project. One of its goals is to support the implementation of a plan for Hawaiian language instruction throughout the University of Hawaii System. The university would need to report to the Legislature each year about their progress.
SB 1294 SD1 HD1: With the required funding, this bill would establish an Undergraduate Health Sciences Academy within the University of Hawaiʻi to increase recruitment and retention of Native Hawaiian, Pacific Islander, and first generation college students.
SB560 SD1 HD1: With the necessary funds, this bill will task the University of Hawaiʻi with the translation of the Hawaiʻi State Constitution into the Hawaiian language.
The next step for these bills is to pass through the House Finance Committee, and according to McKelvey, they will need continued support from the public in the form of testimony. Anyone who feels that revitalizing the Hawaiian language is our kuleana (responsibility) may want to consider submitting their input in order to help ensure the passing of one or more of these bills. In the meantime, if you're looking to put roots down and buy Maui real estate, you'll find our contact information at the bottom of the page. We would be happy to assist you! Mahalo!
March was an interesting month for the Maui real estate market, to say the least. Based on the data released by the Realtors Association of Maui, single-family home sales shot up 60 percent, compared to the same month last year.… Continue Reading
Like anywhere else, Maui's finest luxury properties are often found in certain parts of the island. According to the Realtors Association of Maui, last year's areas with the highest median home prices were Wailea/Makena with $2,825,000 and Kapalua with $2,562,500.… Continue Reading
It's true that we often showcase West Maui real estate, and have done so for years. Two of our offices are located in that part of the island, but after our recent expansion, we now have a Central Maui office as… Continue Reading