Market Statistics

Found 43 blog entries about Market Statistics.

The Kihei condo market continues to be one of the most interesting in Maui and within it, there are a multiple anomalies, one is Kihei Akahi, which has proven to be one of the strongest micro-markets in Kihei real estate. Let's take a look at how Kihei Akahi is doing currently. 

Active Listings

Currently there are five listings on the market, all of which are in D building: 

D-315 - Very desirable two-bedroom corner unit. Upgraded condition, outstanding view corridors, offered for $655K.
D-314 - One bedroom unit. Big ocean views, list price $479K.
D-613 - Penthouse level one bedroom unit with panoramic view corridors, list price $489K.
D-609 - Another penthouse level one bedroom unit. Clean condition, big views, with a list price of $525K
D-402 - Two…

With miles of some of the most beautiful beaches in the world, the Kihei coastline is home to some of the best oceanfront / beachfront Maui real estate. On today's post, we'd like to discuss the Luana Kai condo market. Located in North Kihei, Luana Kai has convenient access to the rest of Kihei while having a comfortable commute to West Maui and Central, with all the amenities waiting therein. Onsite, guests, residents and owners enjoy access to the pool and cabana area, one of Kihei's best, as well as easy access to the public tennis courts directly out front. The property is fronted by a large area of conservation land owned by the County, which in essence acts as a buffer between the property and the beach - the added benefit of not being directly…

Few neighborhoods in Hawaii can inspire the level of enthusiasm the way that Moana Estates does in Kihei. The subdivision consists of 90 executive-style homes, strategically located within the area to maximize privacy and views, while instilling a sense of community and neighborly Aloha. Located adjacent to the award-winning Kamalii Elementary School, children enjoy access to one of the highest-rated schools in all Hawaii, while the hilltop location ensures continuing view corridors. Conveniently located within walking distance to Kamaole Beach I, II, and III, restaurants and shops, yet separated enough to feel private and secluded. Nearby access to Piilani Highway ensures quick ingress to the Wailea resort community, with all the top restaurants, spas,…

Makena Real Estate

Through decades, Makena real estate has proven to be one of the strongest ultra-luxury Hawaii real estate markets in the entire State. With an idyllic location in a comparably undeveloped area (specially when compared to Wailea or Kapalua), yet boasting some of the most pristine coast anywhere in the world and luxury amenities rivaling those of any ultra affluent resort town, it is easy to understand how and why Makena appeals to some of the world's wealthiest and most famous - from Hollywood movie stars, to Silicon Valley entrepreneurs, to Wall Street tycoons and everything in between making Makena their Hawaii getaway.

As we are half way through the year, it is a great time to measure how the Makena market is faring. First, let's look at how 2017 turned…

In the State of Hawaii, when a non-resident (defined as any person other than a Hawaii resident) sells their interest in real estate, there is an applicable tax withholding on the amount realized, which is generally the sales price. The amount withheld has been 5%, however new changes as passed via Senate Bill (S.B) 508, S.D. 1, H.D. 1, C.D. 1, now increase the amount to 7.25% for any transaction that closes on or after September 15, 2018.

As per the Announcement published by the Department of Taxation:

"In sum, a transferee or buyer must withhold 7.25 percent of the amount realized by the transferor on the disposition of Hawaii real property if the transfer occurs on or after September 15, 2018, unless an exemption applies." There are applicable…

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…

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…