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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. 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.

 

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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. 

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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!

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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
Oct. 14, 2019

New Listing at your Tropical Oasis, Kahana Sunset!

Aloha!

Where is Maui's best beachfront, ocean view value located? Why, at Kahana Sunset of course! Kahana Sunset C2C is an excellent vacation rental unit that is simply gorgeous. You have to see it for yourself!

C2C is a one bed, one bath beachfront condo that is literally steps away from your own semi-private beach. So take a stroll and spend some time lounging in one of the many lounging areas or just lounge right our side your front door. The 96 square foot lanai has 2 drop down exterior sunshades that help you enjoy the late afternoon sun and sunset. The inviting lanai also opens onto the grounds and pool area and is bordered by a row of fragrant plumeria trees. 

Not to be outdone, the interior is just as inviting as the lanai. With an AC system that is deftly engineered through both the living area and the bedroom, you'll have a cool place to gather on those hot summer days (unless you're in the pool just outside your door, or in the ocean just a few steps away). 

The kitchen is beautiful and perfectly situated so that the chef can be fully included in the many gatherings that are sure to happen in your amazing living space and believeyoume, everyone will want to gather at your new place! The bedroom is oversized and easily accommodates a king size bed.

This could be the quiet tropical oasis you've been dreaming about. Call your favorite realtor today to set up a showing!

1 bed, 1 bath, 700 sq ft, $585,000

With warm aloha!

Posted in Listing News
Oct. 8, 2019

Aina Nalu News Q3 - 2019

Aloha from your resident experts!

From July 1 to September 30 there were 8 listings and 5 closed sales. There weren't any expired or cancelled listings at the end of the quarter. There were 0 pending sales and 3 active listings at the end of the quarter.

Sales activity at Aina Nalu was still healthy in the 3rd Quarter, but the pace has slowed a bit.

Here's the comparison to Q2 activity:

Interest rates are still great, which is contributing to the continued sales and allowing for some price increases. Overall, Maui condo sales for September were on par with sales last year at the same time (119 in 2019, versus 120 in 2018) in spite of the fact that inventory has dropped drastically (456 active listings in September 2019, versus 530 in September 2018). At the end of August, we only had 3.7 months of inventory on hand in Maui, which is representative of a seller's market. 

The question is -what's ahead? We are here to help if you are wondering if it's time to sell.

For further information, contact Lee Potts at lee@alohapotts.com or 808-876-2776 or Barb Potts at barb@alohapotts.com or 808-344-5008. 

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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.

Sept. 30, 2019

New Listing! Aina Nalu B107

Aloha!

It's one of our favorite places on Maui! Aina Nalu B107 was just listed. It is an updated 2 bed, 2 bath unit that is bright and beautiful.

Whether you're looking for an investment (and Aina Nalu has outstanding rentals), or a place to lay your head, this unit has a great layout. A great room style living and kitchen area separates 2 bedroom suites, each with its own bathroom. 

More importantly however, is location, location, location. Aina Nalu B107 is located right in the heart of Lahaina and you are close to restaurants, shopping, the harbor, the beach, the library...and the list goes on! There is a Maui bus stop close by as well if you want to venture further up or down the island. You literally could live without a car!

If you need to spend the day by the pool, Aina Nalu is also the place to be. There are two pools, both surrounded by lush, tropical foliage, with one pool being a saline (salt water) infinity pool. There is a hot tub and a large pavilion, which is the perfect gathering place for friends and family.

You don't want to miss an opportunity to see this special complex. Contact your favorite realtor today and set up a showing!

2 bed, 2 bath, 846 sq ft, $575,000

With warm aloha!

Posted in Listing News
Sept. 15, 2019

New Listing! Kulakane 202

Aloha,

Finding an affordable property on the ocean, particularly on Maui, seems like an impossible dream. Well, we're about to make your dreams come true! We just listed Kulakane 202, a 1 bed, 1 bath condo just north of Kaanapali with a breathtaking, panoramic ocean view. 

 

It is everything you've dreamed of, nothing between you and the expanse of sea and sky. Gaze across at Molokai and Lanai, watch honu bob in the surf, soak up stunning sunsets year-round and experience majestic whales coming soon to your very own lanai. 

Kulakane 202 has been freshly painted, updated with new lighting and has new whitewash bamboo flooring. The outstanding feature of this sweet condo however, is the view. Simply step through the front door and gaze out at the beautiful blue ocean. The lanai will be where you spend most of your time, in fact, you might never leave. 

If you do venture away from the view, you will love the convenient location perfectly situated between the Lahaina/Kaanapali and Kapalua areas. It is within walking distance of several coffee shops, a sweet beach park and playground, the Honokowai Farmer's Market and one of the newest attractions in the area, the Food Truck park. You could eat there every night of the week and have something different each time. Kulakane is also only a short drive from world famous Kaanapali Beach and Lahaina Town. 

Looking North, you are within a few minutes drive of the Kapalua resort area, which is home to DT Fleming's Beach, the Plantation and Bay golf courses, ziplining and some of the best restaurants on the island.

If you're looking for an investment opportunity, Kulakane is also an excellent vacation rental property. The resort, and this unit, consistently earn 5-star ratings from guests on online rating sites. Your guests will enjoy free wifi and free parking. 

Contact your favorite realtor today to set up a showing of this gem of a condo. It is the affordable oceanfront property you've been searching for - how refreshing!

With warm aloha!

Posted in Listing News