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!

 

Feb. 26, 2020

The Place You Want to Be ~ New Listing at Hale Napili

Hale Napili, nestled on a one-of-a-kind property on Napili Bay - the place where everyone wants to be. 

Hale Napili is right in the middle of beautiful Napili Bay, just steps from the beach. From swaying palm trees, to soft white sand, Napili Bay is one of the best beaches on the island. 

This boutique condominium complex retains the unique charm of Old Hawaii. Imagine the way Maui used to be, without the crowds, without the hurry. It's a place where friends come to gather every year, year after year. This boutique resort is intimate and low density with only 18 units on site. You'll feel like you're in your secret spot.

From your recently renovated condo you have easy access to the beach. Your lanai is a comfortable quiet spot for morning coffee and the sound of tropical birds. 

Hale Napili 7 has been updated to create a clean, light space that your guests will want to return to again and again. The beautifully designed full size kitchen allows the chef to be included in conversations within the condo or on the lanai and the new cabinetry throughout the condo gives you lots of storage for all the swimsuits you'll need to bring. 

The Hale Napili complex also went through a major upgrade/renovation in the recent past. The upgrade includes the installation of an air conditioning system in each unit, and a keyless entry system (added in 2019) with a keyless security system at the entry gates and the gate to the ocean. 

With every visit it will feel like you're coming home. You can relax and casually watch the sunsets, the whales, the turtles, and the people at play in the surf from the beautiful new lawn, preparing your favorite BBQ meal or on the sand of Maui's favorite bay. 

Hale Napili is located about 15 minutes North of Lahaina and just a few minutes South of the Kapalua Resort area, which hosts two golf courses, tennis gardens and several fantastic restaurants. Napili Plaza is also a short drive away and has several locally owned restaurants, a coffee shop and a well-stocked grocery store. 

If you want more details about one of the sweetest spots on Maui, contact your Realtor for details today!

Posted in Listing News
Feb. 18, 2020

Maui Real Estate Advisor - February 2020 Sales Statistics

February 2020

Maui Real Estate Stats and News

The sales of single family homes dropped to the second lowest level in the last 12 months. Only July of 2019 had fewer sales, but only by one house. However, last January also got the year off to a slow start with just 62 sales.

With 124 sales for the month, condo sales are holding steady, as are prices.

Pending sales represent properties that are under contract but have not yet closed. While the number of single family homes declined, the number of homes under contract had a nice increase, which indicates no real sales slowdown in coming months.

The number of pendings for condo sales continues to rise. A fairly large number of these can be accounted for in West Maui with the new Luana Gardens at Honua Kai and Kahoma Village. However, a number of those have been under contract for quite some time, which indicates that condo sales are still on the rise. 

Inventory tells us how many units are available for sale in each category. In March of 2019 single family home inventory was over 500 homes. The next month inventory dropped significantly. A decline in inventory should be followed by a decline in sales. However, demand remains strong and actual sales seem to be defying gravity.

Condo inventory also dropped below 500 in 2019, but one month later than single family homes. Historically, the number of condos for sale has far exceeded the number of homes for sale. Now they are almost even with each other.

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 median is less likely to be skewed by outliers of a few very high-priced or very low-priced sales. 

The average selling price for a home dropped below $1,000,000 for the first time in 6 months. However, it doesn't look like a trend yet. Additionally, the average price indicated for homes under contract still exceeds $1,000,000.

The median selling price for homes seems to be creeping back to the $800,000 mark. So, there is no evidence of prices softening in the single family home market at this time. 

The average selling price for condos had a bit of a comeback, handily topping $700,000 again. The median price also rose nicely, so there is no evidence of prices softening in the condo market either. 

The days on market is the number of days a property has been on the market until close of escrow. There has been a bit of fluctuation for both homes and condos. If your property is for sale and it's been on the market longer than the averages above, give the supply and demand in this market, you may have a pricing issue.

The bottom line is that despite what we hear from the real estate pundits, the basic economic law of supply and demand is alive and well and working here on Maui. There is no apparent evidence of a real estate slowdown here. Is there a black swan like corona that could slow things down? We'll keep on eye on the tourism numbers and let you know as soon as we do. 

In the meantime, we need inventory. There are plenty of buyers waiting for the right property, and interest rates continue to be low, so if you have ever considered selling your property, it's a great time to do so. 

_________________________________________________

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 our 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. We are business people, 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 on 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 fi you are buying property on Maui, it is 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 with both Steve's were there (Job and Woz). She was also Director of Strategic Marketing for Grass Valley Group, a division of Tektronix, and a business broker in California.

Jan. 27, 2020

Maui Real Estate Advisor - 2020 Yearend - Sales Statistics

2020 Yearend - Sales Statistics

Sales:

At this time last year, we anticipated a slowdown in sales of single family homes at the mid to lower price points. We warned that the lack of inventory would keep prices strong. We made the point that the luxury space has lots of inventory and there were, and are, some very good values in higher end homes and condos.

Well, we got most of that right, but, the slow part? Not as much a I expected. 

Sales of homes on Maui overall dropped just 1.9% from 1,139 in 2018 to 1,117 last year. The "go to" areas for buying mid to low priced homes, Kahului and Wailea, had sales decreases in the 6.5% range. However, there were big gains in sales in Kapalua, Lahaina, and throughout the Upcountry areas including Makawao, Pukalani and Kula.

Like single family homes, the slowdown in condos sales was small, only a 3.1% drop, from 1,657 a year ago to 1,606 in 2019. Kihei, Kapalua and Lahaina were the big gainers. Lahaina had a big boost by the new sales in Kahoma Village.

Pending Sales: along with other key statistics, are detailed below:

Pending sales represent properties that are under contract but have not yet closed. Given the inventory, especially at the hot price points, which we address in the next section, the number of pending homes sales is astonishing. Pending sales on the 1st of January were up 44% over January of 2019. There are some new developments that have some pending sales, but that doesn't account for this kind of jump in pending sales.

Overall there was virtually no change in the number of pending condos, so we should expect strong numbers of closed sales for the next couple of months.

Inventory:

Inventory tells us home many units are available for sale in each category. Inventory on January 1 was down 10% from last year for both homes and condos. Since overall sales were off only in the 2-3% range, a further decline in inventory could likely signal a slowdown in overall sales.

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 median is less likely to be skewed by outliers of a few very high-priced or very low-priced sales.

The average selling price for a home is up 5.7% from last year. The median price is up 4.4% to $740,677. However, of the 457 homes for sale, only 91 are priced at median or less. 

The average price for condos has dropped steadily since peaking in September. Since fall is typically our slower time of year, I can't yet say this is a trend, especially since the median price is up 3%.

Days on Market: (avg-sold listings):

The days on market is the number of days a property has been on the market until close of escrow. That number seems stable. Normal financed sales take 45-60+ days, so on average homes and condos are on the market up to 100 days before they go into escrow. I believe we are still seeing a downward trend in days on market. The reason for this is the competition for well-priced listings with strong demand. 

There are plenty of buyers waiting for the right property, and interest rates continue to be low, so if you have ever considered selling your property, it's a great time to do so.

Be sure to visit us online at AlohaGroupMaui.com

A hui ho!

___________________________________________

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 our 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. We are business people, 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 on 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 fi you are buying property on Maui, it is 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 with both Steve's were there (Job and Woz). She was also Director of Strategic Marketing for Grass Valley Group, a division of Tektronix, and a business broker in California.

Jan. 21, 2020

New Listing! Kaanapali Shores 245

Aloha!

World class resort, world class destination!

Kaanapali Shores 245 is a spacious 1 bedroom, 1 bathroom condo with a large lanai perfect for that early morning cup of coffee, a mid-day siesta or an end of the day glass of wine. 

The living area, kitchen and bedroom are all "full-size" and could easily accommodate a thanksgiving day feast, a wild birthday party or an intimate gathering of friends. 

Kaanapali Shores is also has a history of high rental occupancy and income for the owners who want to participate in vacation rentals.

So whether you're looking for your Hawaiian getaway, or an investment property, chose the Aston Kaanapali Shores Resort. 

Click here to find out more about Kaanapali Shores 245

With warm aloha,

Lee

Posted in Listing News
Jan. 13, 2020

Kaanapali Shores Bulletin, 7/1-12/31

Aloha!

During the 2nd half of 2019, there were 9 sales.  There were 4 properties in escrow at the end of the six months. There was 1 expired and 1 cancelled listing.

The market for Kaanapali Shores condos is still hot! During 2019 there were 16 units sold compared to 33 sold in 2018. You're probably thinking, "If Kaanapali Shores is so hot, why didn't you sell more condos?" In a word - inventory, or in 3 words - lack of inventory.

In all of 2019 there were fewer than 33 condos listed for sale The median selling price is up and the number of days on market is down significantly. The median days on market for the current active fee simple units is 21 days. If there were more units for sale in 2019, there would have been more sales. 

So, what did the stats look like in 2019?

Prices are still moving upwards. Of the active listings on 12/31/19, 3 are fee simple and 4 are leasehold.

Of the 16 sold units in 2019, 10 were cash sales, 4 were 1031 exchanges, and 2 closed with conventional financing. Here's the breakdown for units sold:

2020 is bound to be an interesting year, and we wish we had a crystal ball. Overall condo sales on Maui have remained about even with last year (about 20% below last year) in spite of continuing low inventory levels. We are approaching record prices. So, whether you're considering selling or happy with your investments and looking forward to years of enjoyment to come, we'd love to hear from you. Remember we have our office on the ground floor near the gym, so stop in and talk story when you're on property.

For more information reach out to any of the team at the Kaanapali Shores Team. 

L. Lee & Barbara Potts, R(B), RSPS, ABR, SRS (808) 276-8776, lee@alohapotts.com

David T. Barca, R(S) (808) 357-0958, dbarca@whalersassociates.com

Gina M. Parola, R(B), RSPS, ABR, SRS (808) 870-2525, gina@whalersassociates.com

Robert J. Cartwright, R(B), CRM (808) 661-8777, bob@whalersassociates.com

Visit AlohaGroupMaui.com or KaanapaliShoresTeam.com for more information and surf all of the listings on Maui anytime you like.

We would be honored to represent you with a purchase or sale of a condo at Kaanapali Shores.

 

_____________________________________

Copyright 2019 L.Lee & Barbara S. Potts

Statistical information in this newsletter is based on actual sales information reported to the Realtor'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. 

Jan. 9, 2020

Aina Nalu News Q4 - 2019

Aloha from your resident experts!

From October 1 - December 31 there were 10 listings and 3 closed sales. There was 1 cancelled listing and 0 expired listings at the end of the quarter. There were 6 pending sales and 0 active listings at the end of the quarter.

Sales activity and demand for units at Aina Nalu remain strong, with some units being sold before they were listed on the MLS. There are no units for sale at this time.

The average number of days on market for Aina Nalu listings in Q4 was 65, which includes time in escrow. This compares to the average days on market for all condos sold on Maui in Q4 of 155.

Units sold in Q4 included I101 at $559,000, B107 at $560,000, and D103 at $575,000. All are downstairs 2-bed, 2-bath units. 

List prices for 2-bed, 2-bath units in Q4 ranged from $569,000 to $599,000, so prices continue to inch upward.

During the year 2019, there were 21 Aina Nalu units sold with an average days on market of 61. Sold prices were in the following ranges:

As you would expect, the lower prices were early in the year.

Continuing low interest rates and strong tourism on Maui have contributed to the strong buyer demand. 

2020 is bound to be an interesting year, and we wish we had that crystal ball. We do know that overall condo sales on Maui have remained about even with last year (about 20% below last year) in spite of low inventory levels. Prices seem to be holding, if not increasing in specific areas. 

____________________________________

For further information, contact Lee Potts at lee@alohapotts.com or (808) 276-8776 or Barb Potts at barb@alohapotts.com or (808) 344-5008.

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 business people, 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 2019 L. Lee & Barbara S. Potts

Statistical information in this newsletter is based on actual sales information reported to the Realtor’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.

Jan. 7, 2020

What's With the Foreclosures on Maui?

Have you noticed the number of foreclosures on Maui lately?

A few weeks ago my partner, Barbara Potts, noticed something curious - lots of foreclosure announcements listed in The Maui News. We wondered, why all the foreclosures?

My thought was that since Hawaii is essentially a judicial foreclosure state, and due to the lack of enough judges to hear cases and the nature of the judicial system. But according to one of the leading Maui attorneys who also serves as a commissioner to foreclosures, there is much more to it than that.

According to our friend, there are 2 bigger factors at work.

First, I said that Hawaii is "essentially" a judicial foreclosure state. Actually, non-judicial foreclosures are allowed, but, back in 2010 the Hawaii legislature felt that foreclosures were out of control, so they put a moratorium on foreclosures for about a year. Then then law was changed to impose a severe penalty on the foreclosing party if there happened to be an error in the non-judicial process. The result was that virtually no one uses non-judicial foreclosures anymore. The aforementioned penalty is that the foreclosing party could lose their right to take the property back, and the debtor could potentially keep the property!

However, non-judicial used to be the predominant method of foreclosure. Now, several hundred of those non-judicial foreclosures are being challenged by the parties who lost their properties. As a result, the lien holders are going back and pursuing judicial foreclosures to protect themselves, and properties are working their way back into the system and to the market. Hundreds of them, I'm told. 

The second factor are the folks who were fortunate enough to get loan modifications, or loan mods, and who now still can't afford to make their payments. The benefit of a load mod was that it temporarily lowered the borrower's interest rate. So, a borrower who was paying, perhaps 6%+, could get their rate set to something in the 2% or lower range.

That reduction, however, was temporary. Part of the deal with a load mod is that the rate goes back up over time, usually back to the original rate. Many of those borrowers who benefited from the low rate and were able to save their properties now find themselves back in the same place, unable to make payments and back in foreclosure.

What's next? Short sales? Who knows, but stay tuned. We'll keep you informed. The next article will be what you need to know about buying a foreclosure in Hawaii.

With warm aloha, 

Lee Potts

Dec. 16, 2019

Maui Real Estate Advisor - December 2019

November 2019 - Sales Statistics

 

As we near the end of the year we are seeing a seasonal slowdown in single family home sales. The 71 sales in November is the second lowest number of sales this year. Only January had fewer sales with 62.

Condo sales, which usually start to slow down a bit as the holidays roll around, were surprisingly strong, especially given the inventory situation, which we'll address later. 

 

Pending sales represent properties that are under contract but have not yet closed. They are a key indicator of future sales. Single family home pendings rose to over 500 units again. That is about 10% higher than the number pending in November 2018, and signals that 2020 should be off to a strong start. 

The number of condos pending also rose last month. This number has been slowly and consistently rising since August. February had the highest number of pending sales for the year. Pendings slowly sank month after month until hitting the bottom in August. So, maybe we're on the rebound?

 

Inventory tells us how many units are available for sale in each category. Single family home inventory has been painfully steady for a solid 6 months. According to the MLS, we have almost 6 months of inventory. In real estate terms that indicates a balanced market; not a buyer's market, not a seller's market. However, 83% of the homes currently for sale are priced above the median selling price. So, below the median price it's a seller's market. Above the median is a buyer's market, maybe?

 

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 median is less likely to be skewed by outliers of a few very high-priced or very low-priced.

The average selling price for homes is still hovering just over $1 million, and the median price remains steady at $733, 897.

The average price for condos dipped just below $700,000, which is a very small change. The median dropped just under $500,000, which is effectively no change. 

 

The days on market is the number of days a property has been on the market until close of escrow. That number seems stable. Normal financed sales take 45-60+ days, so on average homes and condos are on the market up to 100 days before they go into escrow. I believe we are still seeing a downward trend in days on market. 

Be sure to visit us online at AlohaGroupMaui.com

A hui ho!

___________________________________________

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 our 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. We are business people, 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 on 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 fi you are buying property on Maui, it is 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 with both Steve's were there (Job and Woz). She was also Director of Strategic Marketing for Grass Valley Group, a division of Tektronix, and a business broker in California.

 

Dec. 13, 2019

It's Winter on Maui and You Know What that Means!

Winter has arrived on Maui and you know what that means (and yes, we do have a winter season...of sorts). The whales have come home! December 15 officially marks the first day of whale season, but the "winter birds" have been slowly showing up for the last month or so. 

The predominant whales that come to Maui each year are the humpback whales, or Kohola. The majestic animals "summer" in Alaska and then an average of 10,000 whales follow the same migration patterns back to Hawaii every year. The whales travel over 3,500 miles in a 4-6 week time frame. Females come to give birth and to raise their calves in the relative predator free, warm waters of Hawaii, or to breed (which is why the males are here, insert joke).

The gestational period for a humpback whale is 11-12 months, so it is safe to say the calves born one summer were the calves bred the previous summer. The calves are roughly 2,000 pounds at birth and gain about 100 pounds a day from their mother's milk, which is 50% fat. Though many babies have been born in the waters off of Maui, there has never been a recorded live birth to date. Early in 2019, University of Hawaii marine mammal researchers got the closest they have been to witnessing (and thus recording) a live birth in over 25 years. Click here for the YouTube video.

One of the more phenomenal things to experience during whale season is hearing the male humpbacks sing. Each whale has his own unique song and wherever he left off singing before he started his journey back to Alaska, is where he'll pick up singing once he is back in Hawaiian waters. Scientists believe the songs are to attract females. If you are lucky, can hold your breath for a bit, and are snorkeling on Maui, you can hear the songs underwater. The songs can travel up to 12 miles underwater, but sound so much closer, almost as if you look over your shoulder a whale will be right there. It is an otherworldly sound, beautiful and mournful all at the same time.

And sometimes, sometimes you might even end up sharing a piece of their world with them for a brief period of time.

(Photo credit: Caitlyn Misler, video credit: Ryan Kirkham)

With Warm Aloha!

Posted in Maui Fun
Oct. 14, 2019

Luxury Beachfront Condo at Affordable Price, Kahana Sunset B5!

Aloha,

Thought you couldn't afford a luxury beachfront condo on Maui? Think again. Kahana Sunset B5 has the multimillion dollar view and the luxury finishes you're dreaming of at a fraction of the price. 

This is your Maui dream come true; gently swaying palm trees, the sound of crashing waves, whales breeching right in front of you, a warm tropical breeze blowing across your neck and you're able to experience it all from your lanai at Kahana Sunset...upstairs or downstairs. See, dreams can come true!

B5 is a two bedroom, 2 bath, 2 level unit. It is uniquely designed to create what feels like two separate suites upstairs and a beautifully designed kitchen and living room downstairs.

The best feature however are the two large lanais. The downstairs lanai is big enough to comfortably host your family plus a few neighbors while you enjoy your front row view of sunset or wake up with the birds and enjoy the cool, quiet mornings with your cup of coffee. Leave the lanai doors open and experience the indoor/outdoor Maui living with the trade winds gently blowing in.

The upstairs lanai boasts another panoramic ocean view and is situated in such a way that you feel like you're sitting right about the ocean. The view is endless. 

Kahana Sunset is also in the perfect location; only about 5 minutes away from the Kapalua resort area with championship gofl courses and tennis gardens, and 10 minutes away from world-famous Kaanapali Beach. It is located near coffee shops, restaurants, and a neighborhood grocery store. 

Whether you are looking for a great rental investment or place to hang your (sun)hat Kahana Sunset B5 is worth a second look, which just might turn into you inviting your friends and family to enjoy the view.

2 bed, 2 bath, 952 sq ft, $715,000

 With warm aloha!

Posted in Listing News