As 2019 quickly moves through the calendar and over half the year is in the books, we think it's a pertinent time to take a look at the Wailea real estate market for a recap of the current position of the market relative to the rest of the Maui market and in a more micro-market level as to how it is performing relative to previous years.

Let's start by looking at how the Wailea market is performing in comparison to all of Maui - keep in mind, we compile our data based on the resort of Wailea only, whereas most others combine Wailea/Makena into one 'area' which skews statistics. Please note that the chart below details year-to-date information. For single-family homes, we can see that there was big increase in median sales price from 2017 to 2018 and that…

With support from the Honolulu City Council, Mayor Kirk Caldwell signed Bill 89 into law, becoming Ordinance 19-18, to now impose strict enforcement of regulations affecting Vacation Rentals on Oahu. This enforcement affects long-term how and where Transient Vacation Units (TVU's) and Bed & Breakfasts (B&B's) can legally operate. Read Honolulu Ordinance 19-18 in its entirety and Ordinance 19-18 Frequently Asked Questions for a better understanding on how this may potentially affect you, whether as a current owner of Oahu real estate or a prospective Buyer. 

Note: Visit our Oahu Vacation Rentals page to view condos currently for sale and check out a Oahu Map of Properties Eligible for Vacation Rentals for those holding NCU's.

To understand the context, it is…

As one of our favorite properties, our team keeps a close eye on the Honua Kai real estate market in order to best represent our clients. In the past year we have not been posting our market updates but we are getting back on a schedule to do so routinely. So with that, let's start the discussion.

Honua Kai Year to Date

With the introduction of Luana Garden Villas, the expectation was that it would take some of the sales for premium 2 bedroom units and 3 bedroom units while impacting profitability of those mountain-facing units on the Konea tower, thereby lowering the absorption rate at Honua Kai. In 2018, there were 40 sales, resulting in 3.33 sales per month, whereas year-to-date there have been 20 sales, at a rate of approximately 2.6 per month -…

The Hawaii Real Estate market is as diverse as the islands that it consists of - from the paradise of Maui, to the urban tropical setting of Oahu, to the stark contrast of Big Island and the natural untouched beauty of Kauai. With half the year now on the books, let's take a look at the state of the market.

At the top end of the market, we have seen a significant decrease in activity. Thus far, statewide there have been a total of 10 sales over $10M each, whereas a year ago there have been 26 by this time of the year. On Maui last year there have been 2 over $20M each and Kauai saw the record-breaker record at $46.1M. Interestingly enough, of the 10 significant sales so far this year, 6 of them have been on Maui - more specifically, South Maui (Kihei,…