Hawaii Real Estate Blog

Today's question comes from a client interested in purchasing a home in Wailea.

Question: We have been looking at homes in Wailea for some time, how is the market particularly in the higher-end of the spectrum?

Great question. Let's look at it from two perspectives. First, how has the higher end of the market fared over the past few years. Take a look at the chart below which details the number of sales of single-family residences with a sales price over $5M. As can be noted, as of the date of this post being published (June 12, 2018), we're not quite at the midway point of the year but so far there have already been 7 sales of SFR's on Maui closing with a sales price above $5M. With 3 more sales currently in escrow and half the year still go, it is more…

As the Kihei home real estate market continues to be one of the most interesting ones, particularly in the entry to mid level, we are posting our Piilani Villages micro-market update, with an emphasis on Phase I. For those unfamiliar with Piilani Villages, it was developed in three phases: Phase I being the most northern one off of Kulanihakoi, with homes being built in the early 1990's and most lots ranging in size from 6,000 to 8,000 square feet. Location within the subdivision is critical as those on the eastern perimeter border Piilani highway and are subject to significant road noise (tolerance being subjective). Piilani Villages II and III are very similar in design and floor plans available, with both phases being built in the 2002-2003 timeframe.…

In an effort to keep our clients updated on Maui County property tax rates, we are posting the new tax rates for the fiscal year which runs from July 1, 2018 through June 30, 2019. For the most part, tax rates are very slightly adjusted to the previous year but it is absolutely worth noting that there is a new category: Short Term Rental.

Rates are as follows, based on $1K of assessed value:

Single Family Residence:  $2.86 (Homeowner) and $5.52 (Second Home)
Agricultural: $6.00
Hotel/Resort: $9.37
Apartment: $6.31
Short-Term Rental: $9.28
Commercial Residential (see note below):  $4.55
Conservation: $6.35
Industrial:  $7.45
Commercial:  $7.25
Time Share:  $15.41

A couple of notes:

*  Condos are put into a category based on their actual use (i.e. Homeowner vs.…

In an effort to continuously keep our clients updated on micro-market conditions, we present our monthly Honua Kai  market update. This shall encompass new listings on the market, those that have gone into escrow during the month, and closed sales for the month.

honua kai kaanapali resort

New Inventory


The Honua Kai micro-market continues to see increased inventory, particularly after the developer finished its sales and re-sales have dictated values, available inventory, and absorption. The month of May saw a good amount of new listings:

Konea 521 - Studios are in short demand, particularly those on higher floors. As Konea 521 came on the market, even with its large floor plan for a studio (at 615 square feet), the asking price of $975K may have seem above market to some, but…

Our team is proud to announce its participation in the successful sale of Wailea Beach Villa Unit 102, in representing the Buyers in this transaction. The proud new owners now have a luxury unit in one of the most coveted properties in Hawaii. The sale closed on June 1st for $2.185M - although valuation can be very subjective, we feel strongly that this is one of the best values at Wailea Beach Villas in years. 

wailea beach villas
Located on the southern end of the Penthouse building, away from the pool, yet convenient walking distance to everything that this luxury property has to offer, the 2 bedroom / 2 bathroom condominium offers nearly 1,900 square feet of immaculately presented living space in one of the Hawaii's top-rated resorts.

For those wishing to discuss the…

There is something uniquely extraordinary about Makena Surf. A few notables include its beachfront location in one of the most picturesque beaches in Hawaii, world-class amenities nearby, low density (specially when compared to the newer big resorts), one of the most vibrant sealife epicenters on Maui, and a reputation as one of the strongest long-term equity micro-markets result on Maui. As one of our favorite properties, we keep our finger on its pulse and we share pertinent information timely with our clients/readers. As such, let's discuss the current market.

Makena Surf Map Real Estate Update

Active Inventory

Currently there are 2 units for sale: C-205 and G-203, listed for sale at $2.8M ($1,730 per square foot) and $2.445M ($1,862 per square foot) respectively. While C-205 offers…

kapalua bay beach 2018

As reported by U.S. News, Kapalua Bay Beach has been named as the top beach in 2018 by Stephen Leatherman, a.k.a. Dr Beach, in his much-anticipated annual rankings, which have become a de facto standard bearer for unbiased ranking of America's best beaches.

It comes as no surprise to those familiar with Kapalua Bay Beach and its incredible setting. With reefs protecting each end of bay, forming the prototypical perfect crescent shape beach, Kapalua Bay Beach offers sheltered, warm waters perfect for swimming, snorkeling, SUP, and more. With a gentle slope (particularly on the north end) and relatively shallow waters, this beach is a haven for snorkelers, from beginners to experts. Through decades of positive press and exposure, it has become a…

As one of the most active micro-markets on Maui, conditions at Honua Kai can vary greatly from the overall Maui real estate market. As such, let's discuss the current state of the Honua Kai real estate market, broken down by unit size as that will provide the most context. To start, please use the map below as a reference of unit location within the complex, as that is arguably THE most critical component in valuation. 



Studios


With the least amount of units, the niche of Honua Kai Studios will continue to be one of the most interesting to observe. Currently there is only one unit on the market, Hokulani 219. Of course, being on the 2nd floor of Hokulani has certain challenges, which must then be reflected on price. In the past six months, there have…


We are often asked real estate market conditions, whether as a whole or a more granular level. We conduct in-depth reports of various areas and, as such, today we'll present a breakdown of micro-market conditions at Wailea Point. As a preface, when looking at any market, it is best to look at current inventory (both active and escrows) and recents sales.

To start, let's look at a map of Wailea Point, noting all pertinent units.

wailea point map market update

Active Inventory

Below are description of some pertinent units within the Wailea Point micro-market, to discuss others or further evaluation value proposition, contact us. 

Unit 102 - Arguably one of the most unique condominiums ever offered for sale in Hawaii. The 3 bedroom / 3 bathroom unit sits front row with absolute panoramic…

Our team is proud to announce its participation in the sale of Makena Surf F-103. The ground-floor, front row, beachfront unit is among the best values to sell in Makena in years, arguably. The 2 bedroom / 2 bathroom, 1,510 square foot unit is seamlessly expanded by the spacious lanai resulting in one of the most awe-inspiring ocean views anywhere in Hawaii.

makena surf f-103

The sale recorded on April 3rd, 2018 for a sales price of $2.5M. Given the sale of Makena Surf C-107, which has virtually the same size but arguably a less desirable location, at a sales price of $2.91M, it further supports the strong value we obtained for our clients at F-103. 

For those interesting in selling or purchasing a Makena Surf Condo For Sale, contact our team to discuss the current market,…