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!

 

Jan. 20, 2021

Daily Dose of Vitamin Sea ~ January 20, 2020

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

Aloha!

We hope everyone enjoyed their long weekend! We are thankful for a day to honor a man who valued and fought for equality, justice, respect and love. We can only hope to do our best to continue his dream.

If you had to work over the long weekend, we are also thankful for that, particularly when so many are still struggling to make ends meet. 

COVID cases are finally dropping in numbers (we hope that continues!), and shops and restaurants seem to be a little bit busier. Visitors continue to come enjoy the island, though that has definitely decreased since the holidays as well. 

As always, we continue to hope you are well and would love to hear from you!
 
 
Can't snorkel with a honu right now? Here's the next best thing!
Thanks to Angie for another turtle installment!
 
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
Jan. 15, 2021

Daily Dose of Vitamin Sea ~ January 15, 2020

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

Happy Aloha Friday! 

There are definitely some things I didn't agree to so far this year...and I wish we could have written up a contract first!

Unfortunately, COVID cases on Maui are up and continue to remain high. Maybe we got complacent after Thanksgiving. Everyone thought cases would skyrocket because of gatherings and when they didn't, Christmas gatherings didn't seem like such a big deal, but those coupled with more visitors haven't seemed to have been the best combination. 

We are thankful that the vaccine is starting to roll out and hopeful that will help stop the spread, here and elsewhere! We are ready for this to be done, as we are sure you are too!

We hope you are well and we would love to hear from you!
 
 
"Pink at night, sailors delight!"
 
"The waves which dash upon the shore are, one by one, broken, but the ocean conquers nevertheless. In like manner, whatever the struggle of individuals, the great cause will gather strength."
~Lord Byron
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
Jan. 8, 2021

Daily Dose of Vitamin Sea ~ January 8, 2021

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

Happy Aloha Friday! 

Whew, it has been a rough week and we were so hoping that the magic of a new year would fix everything (we knew it wouldn't, but you can always wish!). 

We are thankful for our beautiful island, but things are never perfect no matter where you live. The COVID cases are on the rise here, and though we do feel a bit removed, we watch along with everyone else about what's happening in our Nation. 

All we can do is to continue to wear our masks, wash our hands, be respectful of others and hope that tomorrow will be a brighter day. Hope you all have a good weekend!
 
 
One of our agents, Angie, found this little piece of turtle paradise while she was snorkeling recently!
 
"It is the nature of the strong heart, that like the palm tree, it strives ever upwards, when it is most burdened."
~Philip Sidney
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
Jan. 5, 2021

Maui Real Estate Advisor - January 2020 Real Estate Statistics

Quick Update:

Aloha, Friends: 2020 is officially in the rear view mirror, but it did not go quietly. The resort we live in the middle of not-usually-windy Lahaina had the roof literally blown off of 2 buildings on the day after Christmas. Large sheets of corrugated steel sailed off the buildings and into the parking lots. Thankfully, no one was injured, but some cars definitely had damage. We lost power for several hours, which is not such a big deal.

The scariest thing during this freak wind storm was a fire that started in Olowalu, south of Lahaina. If you're not familiar with Olowalu, that's where Leoda's Pie Shop is located. After the huge fire just 2 years ago when Hurricane Lane came through, many of us were nervous that another fire, pushed by near hurricane force winds would threaten the nearby West Maui neighborhoods and possibly downtown Lahaina.

According to the Maui News over 500 acres were burned, residents were evacuated, and the highway was closed. Some structures were singed and a community hall/church was destroyed. 

On the less dramatic side, we went to Front Street to watch the final sunset of 2020. Front Street itself was busy, but not crowded. People were wearing masks for the most part, but not everyone was. As the sun set, there were bagpipes being played at Fleetwood's across the street from our view point. It was a nice finish to 2020.

And what's happening in real estate? Let's look at the numbers.

Sales:

Sales are the number of properties that actually closed escrow. These properties likely went under contract anywhere form 2 t0 8 weeks before closing.

December's sales numbers are simply stunning. There have been over 100 homes sold in 3 of the last 4 months. Given that there are only 278 homes even for sale on the whole island, to squeeze out 101 sales at a median price of $865,000 is hard to imagine. Of the homes currently for sale, only 78 are priced under $1M. We clearly have a shortage of "affordable" housing. There are builders wiling to build, but Maui County Council isn't going to make that easy or perhaps even doable.

Maui's condos sales were doubly stunning. As of January 1, there were 167 sales reported. That number usually goes up a bit due to late reporting. That is 44 more sales, or 26% higher than December 2019. And the median selling price? That's up as well. Many consumers and Realtors, including this broker, expected to see condo sales plunge in 2020, and they did in the spring, but condo sales are back, big time. 

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.

Total pending sales are up to 530. That is up 6% from December of 2019. Only January and February of 2020 had more pending sales. Our pendings started to crash in March, hit bottom in April and have risen ever since.

Pending home sales at 221 is nothing short of amazing given the current inventory of homes for sale. The median asking price for homes under contract is $842,000. There are only 50 active listings on the market at that price or under. What does that tell us about future sales?

The 221 condos sales pending is 19% higher than the pendings in the pre-COVID December of 2019. Pendings fell to just 142 in April, but by June had topped 200 again. Pending sales for the last 4 months have been steadily higher than the last 4 months of 2019.

Inventory:

Inventory tells us how many units are available for sale in each category.

So, what's the downside to all this great sales activity? Well, it's the supply side of supply and demand. We are running out of supply.

When we are selling over 100 homes per month and there are only 278 for sale on all of Maui, Lanai and Molokai, we would completely run out of homes for sale in 3 months if we continue to sell at this rate and no other homes come to market.

The lack of inventory, the demand side of supply and demand, keeps driving prices up. As mentioned earlier, there were only 50 homes priced at or below the median selling price. Of the home actively for sale, homes in the inventory, the median asking price is...are you ready? $2,100,000. I don't see how sales can continue at the current pace.

Condo inventory is up 40%, 195 units, over December of 2019. That sounds likes a lot, and it is. However, at the current sales pace, we could deplete that inventory in just 4 months.

The National Association of Realtors define a "balanced" market to be 6 months of inventory. That means if there is less than 6 months of inventory, it is a sellers' market.

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 very low-priced sales.

The median selling price for homes has topped $800,000 every month of the last quarter of 2020. It topped $800K only 2 times in the last 2 years. The average selling price soared to over $1,650,000. That sounds like a record to me.

The median condo selling price also took a big jump in December. At $629,000, it was up 19% over November and up 22% over December of 2019. However, that looks like a spike because median prices have been consistently in the $500,000's for the last 6 months. In the last 6 months of 2019, median prices ranged from the high $400,000's to mid $500,000's, so prices do appear to be up a bit for 2020.

Days on Market:

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

The average days on market for homes is still pretty low at 130. SO, there's not much new there.

Condo's DOM topped 200 days. One reason for that higher number might be that lenders are backed up due to the number of people refinancing to take advantage of today's low interest rates. You can't close, and that DOM ticker keeps on running until the buyer can get their loan funded and close.

Thanks for reading. We're really looking forward to a healthy 2021 and getting folks back on Maui. Be well, stay safe and we'd love to hear from you anytime.

____________________________________

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. Our team consists of talented professionals: Angie Liu R(S), Beau Dyer R(B), Cheri Miller R(S), Keri Nicholson R(S), Paul Goodman R(B), Suni Novotny R(S), Myra Plant R(S), and Tony Brown R(B). 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.

Lee, Barbara and the team are licensed under Keller Williams Realty Maui.

Jan. 4, 2021

Daily Dose of Vitamin Sea ~ January 4, 2020

Well, we made it...Happy first Monday of the new year! 

Did anyone make any resolutions? Staying positive and being thankful are good ones, particularly as we wait with bated breath to see what this year brings! We are crossing our fingers and hoping beyond hope that this is a better year (as I am sure all of you are).

In the meantime, we are enjoying the perfect Maui winter weather and the whales that come along with it! 

We would love to catch up, so drop us an email, or give us a call. Aloha!
 
 
Happily saying goodbye to 2020 with the last sunset of the year!
 
"And now we welcome the new year, full of things that have never been."
~Rainer Maria Rilke
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
Dec. 29, 2020

Daily Dose of Vitamin Sea ~ December 29, 2020

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

Happy Tuesday (this was supposed to be Happy Monday, but as 2020 goes, I thought I had sent this, but it didn't go out!)

We hope everyone had a wonderful Christmas weekend! We have had an exciting few days! Friday was beautiful, but an unexpected storm rolled in on Saturday with heavy rain up North, crazy strong winds in Lahaina (that blew some of the roof off at Aina Nalu), a brush fire in Olowalu (that closed the highway), and a 6 (ish) hour power outage on the West Side.

Thankfully no one was hurt and damage was fairly minimal. 2020 isn't going without a fight apparently! 

Other than that excitement, we have had a wonderful, and otherwise quiet holiday! We hope all of you are doing well and have had a joyful holiday season. We would love to hear from you. Here's to 2021!
 
 
View of the Saturday storm from The Maui Beach House in Kahana. Lanai and Molokai are nowhere to be seen!
 
"Be like the rocky shoreline on which the waves constantly break. It stands firm, and round it the seething waters are laid to rest."
~Marcus Aurelius
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
Dec. 18, 2020

Daily Dose of Vitamin Sea ~ December 18, 2020

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

Happy Aloha Friday! 

COVID cases have risen slightly over the past few weeks, particularly in Lahaina, which hadn't had many, but is now the hot spot. A couple of restaurants have chosen to close until after Christmas (which is quickly approaching!) as a precaution, but for the most part, restaurants and stores are open and busy. 

We appreciate everyone that is doing their part to keep our island safe.

We hope you all have a great weekend!
 
 
Who else needs a little Christmas cheer?
 
"This wreath represents the eternal nature of love. It never ceases, stops or ends."
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
Dec. 17, 2020

A Rare Slice of Paradise on Napili Bay.

Extremely rare slice of paradise right on Napili Beach in the middle of Napili Bay at the beautiful Hale Napili.

This boutique condominium complex has the charm of old Hawaii - the way Maui used to be, without the crowds, without the hurry. There is a beautiful new grass lawn in front of the beach at the property. This boutique resort is intimate and low density with only 18 units on site. You'll feel like you are in your secret spot.

From your comfortably appointed studio you have a view of the lush green palms out your window and on your lanai. From the lanai you have a lovely ocean view. Hale Napili went through a major upgrade/renovation in the recent past. Unit 17's kitchen and bathroom were completely remodeled, with new appliances, tile floors, granite countertops, upgraded cabinetry and a large step-in double shower tiled area. Unit 17 also has new carpet and new sliding door treatments (vertical blinds/shades).

Other recent upgrades include the installation of 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. The art, which is all new, includes photographs printed on aluminum; framed Hawaiian bird prints, a framed limited edition print by Kathleen Alexander, and a framed photograph of a whale.

With every visit it will feel like you are coming home. You can relax and casually watch the sunsets, the whales, the turtles and the people at play in the surf and on the sand of Maui's favorite bay.

Hale Napili is close to the Kapalua resort area that has oceanfront golf courses, hiking trails, ziplining and world class beaches. Just a few miles South is Kaanapali Beach and the mile long white sandy beach. Whaler's Village is along the Kaanapali boardwalk and has upscale shopping, and a variety of places to eat. A few miles further is Lahaina Town with Front Street and there you can chose from a wide range of fantastic restaurants, surf stores and other various shopping, all while enjoying a spectacular view of the ocean.

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

Posted in Listing News
Dec. 14, 2020

Daily Dose of Vitamin Sea ~ December 14, 2020

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

We hope everyone had a great weekend! We learned that going to Target 12 days before Christmas is not a great decision! 

One of our favorite things about Maui is the community that really feels like Ohana. Though Target was BUSY, we did talk to a few people with carts loaded with toys and games that they were giving to families that otherwise wouldn't have a Christmas this year. As hard as this year has been, it has been amazing to see our island filled with the aloha spirit!
 
 
Who else thinks the Holderness Family is hilarious?!? Even though this one features Honolulu (it does fit better with the song, though Maui does get a mention "Maybe it's not even Honolulu, maybe its Maui or Kauai, I mean there's options."), we can all agree that if you don't already live here, dreaming of moving here is a good escape. 
 
"What is Christmas? It is tenderness for the past, courage for the present, hope for the future."
~Agnes M. Pahro
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun
Dec. 11, 2020

A Daily Dose of Vitamin Sea ~ December 11, 2020

 

 

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

 
Who else is deep in the Christmas spirit? And Hanukkah began yesterday as well! We need all the joy we can get this year.

We love walking down Front Street and seeing all the decorations and lights. Par for the course for 2020 there are things we miss, like the lighting of the Banyan Tree and the lights at Sacred Hearts (picture below is last year, so we just reminisce). But we will count our blessings, and enjoy what we can!

Have a very Happy Aloha Friday!
 
 
Click the picture above to enjoy the peace and tranquility of Launiupoko!
 
"May every sunrise hold more promise and
every sunset hold more peace."

~ Unknown
 
Stay safe and well.
Click here for the latest updates from Maui
Posted in Community, Maui Fun