The Latest From Our Blog

This is where you can find out more about what's new at Aloha Group Maui - new homes for sale, new condos for sale, video tours, 3D tours, price adjustments, open houses, our community involvement, and Maui fun!

 

April 23, 2021

Daily Dose of Vitamin Sea ~ April 23, 2021

Update from Maui ~ your daily dose of "vitamin sea"

Yesterday was Earth Day and we are pretty much convinced that there is no other place on earth we would rather live (and we also know that isn't really what Earth Day is about).

Maui usually (pre-COVID) will have a variety of beach clean-ups throughout the island over the course of the month, unfortunately there aren't as many this year. There are still a few and if you're on island and interested in helping, click here for more information about a Honolua Bay cleanup this Saturday, April 24 (you would be amazed at the things you find!). 

As always, we hope you have a great weekend and would love to hear from you!
 
 
"The earth has music for those who listen."
~ William Shakespeare
 
Stay safe and well!
Click here for the latest updates from Maui
 
Posted in Community, Maui Fun
April 19, 2021

Daily Dose of Vitamin Sea ~ April 19, 2021

Update from Maui ~ your daily dose of "vitamin sea"

Sunrise or sunset, it is all pretty spectacular here on Maui. It's not often that we're up for sunrise, but it is well worth it when we are and sunsets are pretty hard to miss!

In case you missed the Maui Real Estate Advisor, click here for the update. We'll let you know a little bit about what's going on on Maui, and what the real estate market is doing. 

We hope you have a great week and we're always here for any questions or concerns!
 
 
 
Stay safe and well!
Click here for the latest updates from Maui
Posted in Community, Maui Fun
April 16, 2021

Maui Real Estate Advisor ~ April 2021 Real Estate Statistics

Wow, what a month! March started off with some guests arriving on Maui at a slow, steadily increasing rate, and then - BOOM! It suddenly felt like 2019 again, and as it turns out, a report today says there were actually more arrivals on Maui in the final week this month that in 2019. It was noticeable by the number of people on Front Street, the people on the beaches, and the challenge of getting into a restaurant or even getting a reservation. Most of the restaurants are open, and the available reservation times were either very early or very late. There are some restaurants that are closed now, but we are hoping they will be opening soon under different ownership.

Our granddaughter came to visit, and she loves Honu. When we tried to get a reservation, the times were either 2:30 or 8:00pm. And since she likes Art Night on Friday's in Lahaina, we checked out the action on the street. There were lines out the doors of the popular eating and drinking establishments. Most notably among them was Down the Hatch.

And traffic? That was back too. However, even as heavy as it was, it could have been heavier. You see, they ran out of rental cars at our spiffy new rental car complex at the airport with its fancy trolley car (shortest trolley ride ever!). That was great for the taxis and Uber drivers, but even they have been in short supply.

And what happens next for all you off island guests? Well, there are 2 stores of interest. One is that even though you are supposed to have a negative COVID test to come to Maui, some don't. So the Mayor is proposing a program requiring that, upon arrival, you will have to get in line and get a "rapid COVID" test at the airport. The other story is that the Governor is proposing implementation of a vaccine passport program. Is there a potential clash of programs on the horizon? Stay tuned.

So, how's Maui real estate doing in the midst of all this visitor activity? Let me tell you.

Sales

Sales are the number of properties that actually closed escrow. These are properties that likely went under contract anywhere from 2 to 8 weeks before closing.

We are constantly amazed at the pace of sales for homes and condos in light of the inventory situation which continues to be a challenge. The number of sales for homes and condos has continued to increase at the same time that prices have increased, and the number of escrows is soaring to a level never seen before.

Pending Sales:

Pending sales represent properties that are under contract but have not yet closed. Pendings are the pipeline that tell us how many sales are likely to happen in the next couple of months.

The number of escrows on Maui has put a strain on all the title and escrow companies, lenders, and other service providers needed to get sales closed. The level of activity is unprecedented and has created a backlog with buyers and sellers frustrated, in many cases with delayed closings.

Inventory:

Inventory tells us how many units are available for sale in each category, not including properties already in escrow. While new listings continue to come to market, the new listings cannot keep pace with the continued demand for homes and condos. At the current pace, we have less than 2 months of active inventory. We continue to see multiple offers on properties on the first days of listing in many cases.

Existing home seller and new construction activity are below levels necessary to bring the market back into balance, and the buyer demand in coming months is expected to continue. While homebuilders are working to increase their activity, backlogged supply chain issues have increased construction costs significantly.

Selling Prices: average and median sold prices

We look at Average and Median prices in all categories. A lot of people like to know the average price; however, we tend to use median for most of our analysis, because the median is less likely to be skewed by outliers of a few very high priced or low priced sales.

On a year-to-date basis, average home prices have increased 54.2%, while median home prices have increased 23.6%. Year-to-date condo prices have increased 22.9% on average with a median increase of 7.9%. Average home prices for the last four months have hovered well above $1.5 million, while median home prices have ranged from $865,000 to $989,500. Average condo prices have ranged from the low $800 thousands to almost $1 million, while median condo prices have ranged from a little over $550K to $645K in March.

Days on Market

The days on market (DOM) is the number of days a property has been on the market until close of escrow.

Average days on market for homes sold has fallen from the 160's in early 2020 to 117. The last time the days on market for homes was this low was in the spring of 2019.

While the days on market increased a bit for condos sold, it's probably a function of increased demand and confidence in COVID restrictions being lifted, resulting in properties being sold that had been listed since before COVID, in addition to delays due to backlog in escrows. The majority of condo sales in March were short term rental properties in West and South Maui.

Thanks for reading, see you next month and feel free to pass this along to any friends looking for real estate information on Maui.

______________________________________

Get more information and details

To get more information on property and trends, you can search all properties listed for sale at www.AlohaGroupMaui.com.  If you can’t find what you’re looking for there, send us an email to lee@alohapotts.com, and we’ll do our best to get an answer for you.  As we get more requests for information, we’ll add new sections to the website, newsletter or both.

 

About Aloha Group Maui

Aloha Group Maui was founded by L. Lee Potts, MBA, REALTOR® R(B) and Barbara S. Potts, MBA, REALTOR® R(B) and former California CPA. Our team consists of talented professionals; Cheri Miller R(S), Beau Dyer R(B), Angie Liu R(S), Suni Novotny R(S), Keri Nicholson R(S), Myra Plant R(S), Paul Goodman R(B), Jamie Martin R(S), Anthony Freda R(S), Courtney Stice, R(S), and Tony Brown R(B). We are businesspeople, and we treat our clients with the same care and service attitude that we would like to receive when we do business.  We are in business for pleasure and profit.  We expect that most of our clients will enjoy the property they own in Maui (pleasure), and it would be nice for everyone if your property performs well for you (profit).  Real estate can be highly speculative, and profits are never guaranteed.  So if you are buying property in Maui, it’s a good idea to surround yourself with a professional team.

 

Lee Potts is the former President of an international software company and former Marketing VP of a publicly traded franchise organization.  Lee and Barbara are both licensed under Keller Williams Realty Maui.  

 

Barbara Potts was a CPA with Ernst and Young before joining Apple Computer back when both Steve’s were there (Jobs and Woz).  She was also Director of Strategic Marketing for Grass Valley Group, a division of Tektronix, and a business broker in California.

 

Copyright 2021 L. Lee Potts

Statistical information in this newsletter is based on actual sales information reported to the Realtors Association of Maui, Inc.  While this information is deemed reliable, it is not guaranteed.  This newsletter is for informational purposes only and not intended as advice for investment or any other purposes.  Real estate is considered to be highly volatile, and purchasers and sellers of real estate should always seek expert outside advice before investing.  

 

 

April 14, 2021

Daily Dose of Vitamin Sea ~ April 14, 2021

Update from Maui ~ your daily dose of "vitamin sea"

Whew, things are still pretty busy around here and sometimes it is nice to just take a break and enjoy the beautiful place we live.

We hope you enjoy a little bit of paradise through our emails and truly wish each of you the very best. As always, we would love to hear from you, so feel free to call, text or email! 
 
 
"To understand the song of life, listen to the melody of wind and ocean and watch the dance of waves and water."
~Debasish Mridha
 
Stay safe and well!
Click here for the latest updates from Maui
Posted in Community, Maui Fun
April 12, 2021

Aina Nalu News Q1-2021

Aloha from your resident experts!

Q1 of 2021 seems to be heading back towards normal. The island has been busier, and visitors seem to be coming back in droves. Though the island appears to be hopping, it might be a bit of an illusion since there are still a number of restrictions in place with hotels, vacation rentals and restaurants, none of which are at full capacity. However, one area that is definitely busy, with no illusions, is real estate.

There is no better evidence of this than at Aina Nalu. There are currently no units for sale, and those that sold in the first quarter sold at or near their asking prices, which compared to this time last year are still lower; however, with the low (or no) inventory this will only drive the sales prices up.

Currently, the vacation rental market seems to be recovering quite well at Aina Nalu with all of the Spring Break families and young adults that are on Maui, and owners are starting to see pre-COVID income. We are interested to see how vacation rentals fare as working remotely becomes the norm. Are people buying for an investment, or are they purchasing a second home they can escape to if COVID continues to have such an impact on the way of life on the mainland?

Overall, condo prices continue to strengthen as a result of both low inventory and visitors being able to come back to the island. For more details on current Maui real estate prices and sales, go to MauiRealEstateMarketReport.com for the latest Maui Real Estate Advisor with all the stats.

From January 1 to March 31 there were 11 listings and 6 closed sales. There were 0 cancelled listings, and 0 expired listings at the end of the quarter. There were 0 active listings and 5 pending sales at the end of the quarter.

_____________________________________________

Aloha Group Maui is a team headed by L. Lee Potts, MBA, REALTOR® R(B) and Barbara S. Potts, MBA, REALTOR® R(B) and former California CPA. We are businesspeople, and we treat our clients with the same care and service attitude that we would like to receive when we do business – and we do it with Aloha! We are in business for pleasure and profit. We expect that most of our clients will enjoy the property they own in Maui (pleasure), and it would be nice for everyone if your property performs well for you (profit). Real estate can be highly speculative, and profits are never guaranteed. So, if you are buying property in Maui, it’s a good idea to surround yourself with Real Estate Professionals.

Lee Potts holds an MBA and was the President of an international software company. He was also the Marketing VP of a publicly traded company and has been investing in real estate since right out of college.

Barbara Potts holds an MBA, was a CPA with Ernst and Young, held a financial management position at Apple, was Director of Strategic Marketing for Grass Valley Group (a division of Tektronix), was a business broker in California, and has always been a real estate investor.

We would be honored to represent you with a purchase, sale or 1031 Exchange of Maui real estate. If you’re in Lahaina Town, stop in and see us - our office is across the street in Dickenson Square, in Suite 212.

Copyright 2021 L. Lee & Barbara S. Potts
Statistical information in this newsletter is based on actual sales information reported to the R
ealtor’s Association of Maui, Inc. While this information is deemed reliable, it is not guaranteed. This newsletter is for informational purposes only and not intended as advice for investment or any other purposes. Real estate is considered to be highly volatile and purchasers and sellers of real estate should always seek expert outside advice before investing.

April 5, 2021

Daily Dose of Vitamin Sea ~ April 5, 2021

Update from Maui ~ your daily dose of "vitamin sea"

Happy Monday! 

We hope everyone had a great Easter weekend and we hope you were able to enjoy some time with friends or family. 

Anyone who lives here or who has visited Maui before may know about the micro-climates, particularly if you're up North. We got a good view of it today from Honokowai. The first picture is of the clouds sitting over Napili (well, it's really more of the clouds sitting over Molokai, but you get the idea...), and then, to the South, picture perfect blue skies! 

With the island being busy again, some of our favorite restaurants are finally reopening. Taverna in Kapalua opened at the end of March, with a new coffee bar addition, Dolces (the mochas are great!). And Slappy Cakes reopened April 1! 
 
 
 
Stay safe and well!
Click here for the latest updates from Maui
Posted in Community, Maui Fun
March 31, 2021

Daily Dose of Vitamin Sea ~ March 31. 2021

Update from Maui ~ your daily dose of "vitamin sea"

Aloha!

Whew, this island is busy! We were down on Front Street over the weekend and it was akin to what it looks like on Halloween (and if you've never been on Front Street for Halloween, it should probably be on your bucket list...). Those stimulus checks are being put to good use here!

Check out the video below for an insider's view. And as always, if you have any questions or just want to see how things are going on our beautiful island, feel free to call, text or send a message in a bottle. We'd love to hear from you!
 
 
 
Easter Break update for residents and visitors. Front Street is hopping!
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
March 26, 2021

Daily Dose of Vitamin Sea ~ March 26, 2021

Update from Maui ~ your daily dose of "vitamin sea"

Happy Aloha Friday!

Spring Break seems to be in full swing here on the island. The beaches are full, the roads are busy, restaurant reservations are booked days out and the weather is fantastic!

COVID protocols are still in place at all establishments, numbers have increased slightly again, but vaccinations are starting to be available in more locations. As of March 29, those 60 and older in Hawaii are eligible to receive the vaccination, so we are thankful things continue to move forward. 

Hopefully spring has sprung wherever you are and if you're on Maui, get outside and enjoy this beautiful island! Have a great weekend and we'll see you Monday. In the meantime, if you need anything, let us know, we'd love to connect!
 
 
Aloha Group Maui has the monk "seal" of approval!
It is pretty rare to come across these endangered guys, and we've been lucky enough to see them twice this year!
Click here to read more about the Hawaiian Monk Seal and how you can help protect them.
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
March 17, 2021

Daily Dose of Vitamin Sea ~ March 17, 2021

Update from Maui ~ your daily dose of "vitamin sea"

Happy St. Patrick's Day! 

One of our very own team members, Keri Nicholson, participated in the 10th Annual Extreme Bocce Ball Tournament over the weekend and Aloha Group Maui also had the privilege of sponsoring a sign. The tournament supports the Maui Food Bank with their Aloha Backpack Buddies Food program which feeds school children enrolled in over 25 schools in Maui County. They are on track to raise over $21,000 by the end of March!

Although the "Luck O' The Irish" wasn't with Keri's team, they had a great time and look forward to next year!
 
As a result of COVID restrictions, they operated the tournament on one court with 2 teams!
 
In need of some bagpipe music? 
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
March 15, 2021

Daily Dose of Vitamin Sea ~ March 15, 2021

Update from Maui ~ your daily dose of "vitamin sea"

We hope everyone had a good weekend. Our idyllic Maui weather is back and it is as beautiful as ever just in time for Spring Break!

Kids are coming home from the beach sun-kissed and salt soaked, with tales of wipe outs and epic waves (am I painting a rosy enough picture?!?)

The island is definitely coming back to life and though we are still using an abundance of caution, we are feeling like maybe, just maybe life will get back to normal, or a semblance of normal anyway. There is at least hope on the horizon!

Let us know if you're in town, we would love to connect. Aloha! 
 
Saturday's skies: the stormy skis are gone, but the waves are still rolling in!
 
Incredible photo of a flying fish or malolo by LCHIU MD
"It is only when you're flying above it that you notice how incredible the Earth really is."
~Philippe Perrin
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun