September 2019

Found 4 blog entries for September 2019.

4508 makena
Our featured listing, 4508 Makena Road on Maui.

The Hawaii Luxury Real Estate market has had a bit of an 'off' year thus far in 2019 when compared to the previous year, which included the record-breaking $46M+ sale on the North Shore of Kauai and several over $20M on each island. 

UPDATE:  Our post was originally posted on 09/28. Updating on 09/30 to reflect the sale of a 10K square foot home in Kukio for $15.99M, which closed earlier last week.

Correction:  The record sale year to date in the State is the Kaupulehu 7-bedroom estate in Kukuio for $15.99M. Previously, the high mark belonged to the sale of 766 Mokulua Drive in Kailua which closed for $14.8M, slightly edging the sale of the a home in Hualalai Resort for $14.75M and a Makena home, 7555 Makena…

Kihei luxury home 1104 Kahaapo

Question: I hear the high-end sector is not doing very well in Hawaii. I have a home in Kihei and I fear that now would be terrible time to sell. Is that true?

Answer: Much is being said that the real estate market nationwide is on a downturn and lack of inventory continues to frustrate prospective Buyers. However, local real estate trends can be significantly different than general trends, hence it's always best to look at a granular level to see how the micro-market is acting. So with that, let's discuss:

Single-Family Homes - The term 'high-end' can have various definitions, particularly in a market like Maui where homes can go north of $20M but which are few and far between. As such, for the sake of this analysis, we are looking at $1M as the marker for…

Question: We own a condo in Kakaako and we're interested in selling. We've been told that when we sell, we'll have to disclose everything we know about the property, even if it might kill the deal. Why do we have to 'disclose' if it's not in my best interest?


Hawaii Real Estate Disclosure by Seller
Disclosure Statement image above by Nick Youngson CC BY-SA 3.0 Alpha Stock Images

Great question, Mark, thank you for asking. To start, please keep in mind that this is not legal advice, this is for informational purposes only and you are highly encouraged to speak to an attorney well-versed with Hawaii real estate. In Hawaii, Hawaii Revised Statute Chapter 508D details the legal responsibility of a Seller to disclosure 'material facts' to the Buyer during the course of due diligence, as agreed upon in…

Makena Luxury Home

With multiple islands, each diverse in micro-markets acting independently of each other yet with in some ways in harmony, the Hawaii Real Estate market is among the most simple yet complex in the country. 

So with that, let's take a look at the market is doing across the four major markets, broken down by category. 

SINGLE FAMILY RESIDENCES

Maui - Single-Family Residences on Maui saw marked improvements, broken down by type - Single Family: median $837,500 (+20%), based on 78 sales (-20%) ;   Single Family with Attached Ohana: median $927,500 (+18%), based on 2 closed sales ; Single Family with Detached Ohana: $837,500 (-11%), with 18 sales closed (+125%).
Oahu - The record set last month for Oahu with the $835K median sales price remains safe, as the…