Hawaii Real Estate Blog

With shrinking inventory and REO's/Short Sales becoming more of a rarity, when a new listing of particularly strong value comes on the market, it's critical for savvy buyers to act quickly when something of interest becomes available. As such, those who have been watching the Kapalua luxury real estate market for an opportunity will be thrilled with the newest REO listing.

A Honolua Ridge REO - Luxury Below Market Price

94 Keoawa Place is a luxury Kapalua home featuring over 7,000 square feet of interior living space on almost 4 acres of land, ensuring privacy and uncompromised view corridors. Located on in the prestigious subdivision of Honolua Ridge at Kapalua Resort, this estate offers 5 bedrooms, 5.5 bathrooms, a media room, an office, an

**SELECT UNITS ARE BEING OFFERED WITH 3 OR 5 YEARS OF HOA FEES PREPAID - CONTACT US FOR DETAILS**

In 2013 Honua Kai continues its domination of the West Maui real estate market with tremendous levels of activity, easily outpacing its phenomenal 2012 sales. Even so, Powerplay Destination Properties, the developer's broker, has demonstrated its ability to price units to sell reflecting commesurate demand. As such, below please view Powerplay's latest price adjustments:

Hokulani:

Unit      Rooms        Sq. Ft.      Launch Price        2013 Price


215    2 bedroom    1320        $1.525M            $1.375M
225    2 bedroom    1200        $1.3M                $1.12M
345    2 bedroom    1100        $1.525M            $1.21M
349    2 bedroom    1100  

Home to some of the most coveted real estate in the world and appealing to the world's financiers, celebrities, and dignitaries, Makena has the perfect blend of Hawaiiana and new-world luxury. And as the Maui real estate market continues to correct itself, it becomes poignant to look at Makena at a micro-level.

Makena Single Family Homes

37 ualei makena home

First, let's look at active inventory, with 10 Makena homes for sale:

5065 Makena Road, offered for $3.4M ($1,301 per sq. ft.)

18 Ualei Place, offered for $4.9M ($684 per sq. ft.) - Important to note this is an unfinished home and it is a short sale.

176 Makena Rd, offered for $5.95M ($2,479 per sq. ft.) - Lowest priced oceanfront/beachfront in Makena.

22 Ualei Place, offered for $5.998M ($987 per sq.

In addition to world-wide exposure through a varied network of relationships, to include the New York Times, Wall Street Journal, BBC, and leading real-estate specific portals in the U.S., our marketing platform is by far one of the most comprehensive in the country. Below is the video for our listing of 37 Ualei Place, in Makena's One Palauea Bay. Enjoy.

This luxury Makena estate was recently reduced, view Makena Luxury Home for more details about this unique, high-end Hawaii property.

Since its introduction as the first Fee Simple beachfront property on West Maui in 25+ years, Honua Kai has been a favorite among savvy investors, but with the recession looming during the first few years, the developer had to aggressively price its units in order to sell.

However, as consumer confidence increases, it is being reflected in robust sales activity at Honua Kai. As units vary greatly in size and location within the complex, taking average and median sales prices can be very misleading and can easily skew the overall market condition (a few sales can cause great fluctuations in either diretion), so using the average sales price per square foot proves to be the best metric. Look below at the developing trend:

What becomes evident is


Single Family Residences - Sales Update

By most metrics and anecdotal evidence by real estate professionals who specialize in the Wailea real estate market, with decreasing inventory and maintained buyer demand, values are on the rise and can presumably remain as such. But just how much have prices increased (if at all) over the previous years?

First, let us take a look at median and average sales prices. Median prices are the more reliable of the two subsets as they are less likely to fluctuate due to comparatively large or small sales.


As one will easily note, both the average and median jumped approximately $1M from 2012's sales to 2013 through 1Q. However, average and median sales prices do not provide the best bird's eye view of the market

Sales Update at Ke Alii Ocean Villas

As the Maui real estate market continues to rebound, it becomes critical for buyers and sellers to have a good understanding of market conditions at the micro level. As such, let us examine sales condition at Ke Alii Ocean Villas - arguably one of the most unique properties on Maui and one of my personal favorites.

First, let us take a look at Average and Median Sales prices since Ke Alii Ocean Villas was built

The first thing that becomes apparent is that the average and median have been fairly close to each other - thereby reflecting even sales that have not been overly influenced by one or two big sales during periods analyzed. But as there are different floor plans with different square footage, it

Aloha,

Below are noteworthy happenings in the Maui real estate market.

As high season continues and will come to a close shortly, one thing that is for certain is that it is a shifting market (across most micro-niches) and that well-priced properties are in short supply and are being absorbed remarkably quickly, oftentimes under multiple offer scenarios.