May 2013

Found 7 blog entries for May 2013.

For first time homebuyers, saving up enough for a down payment and closing costs can be a lengthy endeavor - particularly in today's lending environment, where many lenders still impose restrictive criteria on borrowers.

In addition to the FHA and VA loan programs, as eligibility requirements allow, another program that has been very successful in getting first time homebuyers into the door is the USDA loan program. Although most of Maui County was eligible for USDA loans, the areas of Wailuku and Kahului were not - presumably due to their comparatively higher density.

But it is with great pleasure that we announce that as of now, the USDA loan program will be available for purchases of Wailuku Real Estate. Here are some quick facts of the USDA

For the foodie in you, one of the most celebrated events in Wailea is set to return from May 26th to June 1st:  "Restaurant Week Wailea". With a total of 19 restaurants participating, it is bound to appeal to every taste palette. The pre-fixe, 3-course menus will be priced $29, $39, and $49 per person, with price depending on the participant restaurant.

Alan Wong's Amasai at the Grand Wailea Redefines Wailea Luxury Culinary Experience

Bud Pikrone, GM for the WCA, said: "Thousands of dollars have been raised from each Restaurant Week Wailea celebration and we look forward to once again supporting the Maui Food Bank."

In alphabetical order, the participants are:

Alan Wong's Amasia (Grand Wailea)     
Bistro Molokini
Capische?* (Hotel Wailea)

As activity at Honua Kai continues to increase and absorption of available inventory dwindles Honua Kai condos for sale, it is imperative to have accurate, up to date information. Below is the most updated list of developer's inventory (they do not list their units on the MLS):

Honua Kai - Hokulani Condos For Sale

215 1,320 square feet 2 bedroom Partial Ocean View $1.375M
225 1,200 square feet 2 bedroom Ocean View $1.12M
345 1,100 square feet 2 bedroom Partial Ocean View $1.21M
349 1,100 square feet 2 bedroom Partial Ocean View $1.325M
511 1,100 square feet 2 bedroom Partial Ocean View

As the market continues to recover and is on rapid pace to have a remarkable year, it is critical to analyze statistics for discernable trends/patterns in real estate sales.

As such, click on the following: Maui Real Estate Statistics (Partial) - caveat, the Realtors Association of Maui (the official entity publishing statistics for the County) had a technical difficulty and the above PDF is only a partial report of data. Perhaps the most significant movement has been in Kaanapali condo sales and Wailea home sales.

What is becoming painfully evident is that buyers who have been sitting on the fence and fail to take action soon may find themselves priced out of the market. If you have questions about the data or would like to discuss in further

4690 Makena Road Sells for $8.2M

Offered by Wailea Realty, 4690 S. Makena Road was touted by Wailea real estate experts as one of the best values in Hawaii beachfront properties - and such clamor was well-deserved. Featuring almost 3K feet of square feet of finely-appointed living space on a 0.4 acre beachfront lot located beachfront in one of the most desirable beaches in the world, it was well-priced with an asking price of $8.49M - and the lucky buyer was able to negotiate it to $8.2M. It was originally listed on 10/22/2012, went under contract on 03/30/2013 and sold on 05/15/2013, as a conventional sale.

According to the property's description: "Imagine the possibilities in a luxury beach house featuring sliding glass walls and seamlessly

Sales of Wailea Homes Mark a Shift in the Market

As the Wailea real estate market continues its recovery and absorption increases, we are pleased to announce two more sales this week - reflecting a significantly shifting market:

85 Pukolu Place - A short sale in Wailea Kai, the buyer exercised patience and was rewarded by purchasing this 4,200+ square foot home for $1.06M. It was listed for $1.2M, went under contract on 12/12/2012 and closed escrow 05/01/2013 for $1.06M

370 Pualoa Nani Place - This Wailea Pualani Estates luxury home showed that well-priced homes are being sold quickly. Introduced on 02/05/2013 with an asking price of $995K, it went under contract on 03/01/2013 and closed 04/26/2013 for $945K.

We keep a watchful eye on the

The Makena real estate market has proven to be resilient to fluctuations caused by the recession - posting the highest residential sale on Maui ever in the midst of the recession. As such, it is important to note the direction of the micro-market and in keeping our readers well-informed of any noteworthy sales, we'd like to announce the closed sale of 33 Ualei Place.

In One Palauea Bay, 33 Ualei Place was introduced on 01/31/2013 with an asking price of $9.4M, with an aggressive price adjustment to $8.6M proving to be the catalyst that motivated a buyer to act - with its sale closing for $8.15M on 04/29/2013. Congratulations to the new owner of this luxury Makena property and to Wailea Realty/The Wailea Group for orchestrating. Also take a look at