Hawaii Real Estate Blog

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

As the Honua Kai condo market continues in its upward trajection, one aspect that seems most reflective of this trend is the sales of luxury Honua Kai 3 bedroom condos. In 2012, there were two sales of 3 bedroom units, Konea 351 for $2.6M (arguably one of the best values ever at Konea) and Hokulani 629 for $1.9M - totaling for an average of $1,159 per square foot.

Now fast forward to 2013, and 5 months in there have been 4 sales already recorded: Konea 151 for $3.5M (a Sotheby's assisted sale), Hokulani 604 for $2.675M, Hokulani 202 for $3.04M, and, closing on 04/29, Konea 701 for an outstanding $4.45M - for a significant increase to $1,521 per square foot.

Interested in purchasing or selling at Honua Kai? We know this market exceedingly well, let

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