Ask A Question

We have implemented a new category to our blog -  'Ask a Question'! This allows our visitors and/or clients to ask a question and have the answer posted, so it can better serve all of our visitors. Need information or have a concern about Maui real estate? Fill the form on our Contact Us page and we'll respond promptly.

Found 20 blog entries about Ask A Question.

Question: I'm interested in buying a condo in Kihei but looking for either USDA or FHA financing because of the lower down payment, but I don't have see a lot of options. Is Kihei Villages approved?

Maui FHA Loans

Answer:  Perfect timing. Kihei Villages was recently approved for FHA Financing, effective as of September 11, 2018. Backed by the Federal Housing Administration, the FHA loan program is a popular one, particularly among first-time home buyers. This is great news for both Buyers, as now this property is an option in a Kihei condo market that lacks other FHA options, and for Sellers, who now theoretically have a larger pool of prospective purchasers. The only other condo in Kihei currently approved, as per the HUD website, is the Island Surf building but that is…

Today's question comes from a buyer interested in Launiupoko real estate.

Question: We're interested in buying a house in Launiupoko, but we're concerned that it may be too far removed from the rest of the island and may be a more complacent lifestyle. What can you tell us about the area?

Answer:  Great question. To start, we're a bit biased about Launiupoko as it is one of our favorite areas in all of Hawaii, but we'll answer objectively. The Launiupoko area has a strong reputation as having some of the finest, plantation-style luxury homes on Maui, with expansive ocean view corridors and a degree of privacy rarely found. So although it may appeal to those who want to quietly enjoy their property perched on the hillside overlooking the Pacific, it also has…

Today's question comes from a buyer interested in Honua Kai Luana Garden Villas.




Question: We are interested in Luana Garden Villas. As we would be financing the purchase, do you have a lender that you would recommend?

Answer:  Great question. When buying brand new construction, it is important to work with a lender knowledgeable about the property in question and who has loan products available for the purchase. Below we detail lenders, in no particular order, who are able to finance your purchase of a luxury villa at Luana Garden. 

First Hawaiian Bank
Rick Smith, rsmith@fhb.com

Central Pacific Bank
Spencer Lee, spencer.lee@centralpacificbank.com

Wells Fargo Bank
Jon Levin, jon.j.levin@wellsfargo.com

Bank of America
Craig Bedsole,…

On our previous post, we detailed a list of complexes that allow for Maui Condo Vacation Rentals. As a follow up, it's pertinent to also understand that single-family homes are not permitted to be used as vacation rentals UNLESS they are permitted specifically by the County. Now Maui County has a process by which applicable Single-Family Residences can apply for a permit, these permits are non-transferrable (cannot be passed through a sale to the new owner) and are limited to a specified amount per Region.

As a service to our clients, we are posting the most up-to-date list as of the publishing of this post, 07/15/2018. For confirmation that a specific property is still permitted or discuss available options for purchase, contact us.

Hana

Today's question comes from a long time client:

Question: We've been looking at buying in Mana Kai for some time now, how's the market doing there?

Answer: Great question - we're a bit biased as Mana Kai is one of our favorite properties on Maui. Historically Mana Kai has been a 'legacy' property, with many units trading hands either generationally (passed down within a family) or internally (owners selling to other owners and/or friends). Since the market crash in 2008, units have come on the market at more constant pace under open market conditions. 

Let's take a look at the charts below for a baseline of analysis:

As can be ascertain by the above, there was a peak in 2016 in terms of sales prices. However, although it is not reflected/adjusted on any

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…

We are often asked numerous questions regarding the Honua Kai real estate market, specially now there are proposed sales of the soon-to-be-constructed Luana townhomes. One of the most common questions is for insight regarding location within the property. We've created a map below with a detailed breakdown by unit size, but of course keep in mind that this is for general information only and some floor plates may vary slightly so contact us for confirmation.

Honua Kai Map Breakdown by Size

Studios - Studios are located in the inner courtyard, at the 'bend' of the towers, for an angled view corridor, with the bulk enjoying varying degrees of ocean views. Depending on the floor level, ocean views can be spectacular. Due to the size and protected ocean views, Studios are arguably

honua kai maui

Today's question:

Question: I'm not very clear as to what the HOA fees at Honua Kai include, can you explain?

Answer: It is important to review all pertinent HOA documents as a matter of due diligence during the purchase process to better understand what is (and equally important, what isn't) covered. At Honua Kai, the monthly HOA fee (or 'Strata Fees', to our Canadian friends) is currently $1.66 per square foot of interior living space. This fee covers the costs for water, rubbish removal, sewer, landscaping, basic cable TV service, maintenance and electricity of all common elements, pest control, security, pool, capital reserves, payroll for the management/admin of the association, and insurance for the property (although as an individual

wailea golf course

Q: I am interested in buying a second home in Wailea and I heard that I could then qualify for a Golf Club membership but I'm not sure, can you clarify?

A:  The combination of some of the best golf courses in the world, year-round picture-perfect weather, and surrounding world-class five star resorts make Wailea the optimal choice for the golf aficionado, whether as a visitor or resident. With that, we are often asked about golf privileges for owners of Wailea real estate. In essence, properties fall in three categories: *  Qualify for Full Membership, * Qualify for Property Owner Rate (but not eligible for membership), and  * NOT eligible for either Membership or Owner Rate. So with that, let's break them down:

Qualify for Wailea Golf Club

honua kai hokulani pool

Today's Question:

* I own a couple of condos at Honua Kai and now may be the time to sell. I was not aware of a transfer fee on all resales, can you explain?

That's a fair question and through conversations with multiple owners, it seems that not all owners are aware of it. Prior to building, the developer entered into a Settlement Agreement with the West Maui Preservation Association (click here to learn more about this non-profit organization), by which the community benefits by imposing a transfer fee of 0.25% of the sales price of any resales unit payable on transfer of title. Up to date (as of June 14, 2016), there have 117 resales at Honua Kai, totaling a sum of $161,483,634 with a very robust and active Honua Kai resales market ahead.