The new real property tax rates for Maui County have been released, which will be in effect from July 1st, 2015 to June 30th, 2016. As we had speculated for some time, the increasing assessed values would result in slight decreases in the tax rates. The chart below compares the current fiscal year's tax rate to the upcoming year's. Remember, the amount below is per $1K of assessed value.

Arguably the ones that will have the biggest impact are Hotel / Resort, Residential, and Apartment. And yes, for homeowner occupants who claim the homeowner exemption, Maui continues to be one of the lowest property tax rates in the United States (as a percentage of home value).

For those with any questions regarding property tax rates on Maui and/or how that

Today's question comes from a client interested in Wailea real estate.

Question: On this last visit, we noticed a lot more construction in Wailea than in years past, can you give us a breakdown of what is going and where? Will there be new options for us?

Answer: You are absolutely correct. The past year has brought on a significant amount of new construction. As this is well within our sphere of expertise, we are well acquainted with the status of new projects and would be happy to answer any questions from interested parties. Below is a brief breakdown of the most significant projects that will redefine available inventory within their respective niches and a map is below with highlights.

Keala O Wailea - Interest in this property has been

According to Tripadvisors 2015 Traveler's Choice award, Maui is the best island in the United States and second best in the world. With average temperature of 75 degrees, an array of the best beaches in the world, luxury Maui real estate, and arguably the most beautiful tropical settings in the world, it is easy to why Maui is truly No Ka Oi!

Although many think of Maui as a beach paradise, it offers a plethora of micro-environments reflecting the rich diversity and cultural heritage inherent of Maui and its people. For example, Makawao boasts a rich paniolo (cowboy) tradition and the Maui Cattle Company has quietly grown into one of the best producers anywhere in North America. In addition, Haiku offers so many micro-climates within its boundaries

As one of the original properties to adorn the Wailea landscape, Wailea Ekahi had its choice of locations within the (then) developing master-planned resort community and many would argue (perhaps rightfully so) that Ekahi has THE most enviable beachfront location on the southern tip of Keawakapu Beach.

Built in phases starting in 1976, Wailea Ekahi consists of 295 units spread across 35 acres of immaculately landscaped tropical paradise. Phase I consists of buildings 1 through 17, Phase II is 18 through 35, and Phase III of buildings 36 through 54. With six entrances and four pools strategically located strategically throughout the property, there is a high sense of calm and privacy in this low-density property. The beach pavilion and pool are

With natural splendor, world-class amenities, and a culture worth exploring, Maui's establishments, resorts, and restaurants are mainstay in most 'best of' lists published. One worth noting is the inclusion of the Road to Hana among Business Insider's "World's Most Beautiful Roads".

The Road to Hana is famed for its hairpin curves set along Maui's East Coast - with waterfalls, bridges, and one of the most magnificent ocean views in the world to frame the splendor. With over 600 sharp turns and 50+ one-lane bridges, it's not a 'quick drive'. It can easily take a few hours, especially as it is strongly suggested to stop by one of the many roadside vendors (banana bread has never been this fresh!), explore some of the hikes, or continue on to the

The Makena Real Estate market is one of the most unique in Hawaii due to its low inventory, varied degree of potential offerings - from Makena Surf condos to large luxury estates in One Palauea Bay - and quiet splendor that appeals to world dignitaries, business magnates, and celebrities. In keeping our clients informed of micro-market conditions, we would like to announce the sale of 7421 Makena Road. 

Presented by the Wailea Group, the 3 bedroom / 3.5 bathroom home was offered for sale at $8.4M, with the final sales price of $8.05M. The home was originally presented on April 18th, went under contract on May 28th, and its sale recorded today, on July 25th. With 3,922 square feet of interior living space, its sale at $2,052 per square foot

With one of the most enviable beachfront locations in Hawaii, set amidst tropical garden-like acres of paradise, and luxury amenities to satisfy the most discriminating traveler, the Montage Kapalua Bay Residences is one of the most unique value propositions in West Maui. And since it was announced that Ritz Carlton would no longer be managing the Kapalua Bay Residences and the foreclosure of the previously unsold properties for $100M earlier in 2013, there has been much speculation as to who would be the new partner to bring this property to its proper place as one of the premier properties in the Pacific.

And now, scheduled to be introduced for Fee Simple ownership in early 2014, the Montage Kapalua Bay is poised to raise the standard of luxury

The Maui real estate market continues its upwards ascend and enjoys sustainable growth, yet for the savvy investor who is able/willing to act quickly, there are still strong values. Below are a few within different price points:

Hale Pau Hana 15

A short sale in an iconic beachfront property in one of the most sought-after beaches on Maui. This 1 bedroom / 1 bathroom unit offers panoramic views and boasts 702 square feet of interior living space.

Kapalua Bay Villas REO (Foreclosure)

For the buyer who is willing to excercise a high amount of patience and perserence, this unit is a arguably in one of the best locations within the complex. Kapalua waterfront living at its finest.

Residential Condo in the Heart of Kihei

Seeking

For many potential investors, the idea of purchasing a Maui condo to be used as a vacation rental serves as the perfect melee of business and pleasure. However, in the past few years, financing has been a big obstacle due to (arguably unnecessary) VERY stringent lending qualifying criteria. Potential buyers must keep in mind that properties that allow vacation rentals fall into the category of unwarrantable or condotel - and most lenders see these types of properties as unreasonably high risks and then either do NOT finance these properties (most mainland lenders will fall in this category) or require higher-than-typical down payments. There are only a few properties such as Honua Kai where some lenders have accepted as low as 25% down, but the norm

As the market continues its correction and micro-markets evolve through their own recovery phases, one of our focus areas is the Makena Real Estate market. As such, we are pleased to announce the sale of 22 Ualei today for $5M. The listing was offered by the Wailea Group on October 15, 2012 for $6.85M. Through a series of significant price adjustments, it was sold on June 4, 2013 for $5M.

Given the location of the home and view corridors, we feel that this is a strong value and further reinforces the value proposition of 37 Ualei Place, listed at $9.495M, which is arguably the most impressive of the One Palauea Bay luxury homes.