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July 24, 2019

Kaanapali Shores Bulletin, 1/1 - 6/30, 2019

Aloha,

Total number of units list for sale at Kaanpali Shores 1st half of 2019: 18

Total number of units sold at Kaanapali Shores during 1st half of 2019: 7

Total number of units ACTIVE for sale at end of 1st half of 2019: 9

Number of studios for sale: 1

Number of 1 bedrooms for sale: 1

Number of 2 bedroom for sale (including specials): 7

During the 1st half of 2019, there were 7 sales. There was 1 property in escrow at the end of the six months. There was 1 expired listing which later went into escrow and closed during the period.

The most common question we get is, "How's the market?" The answer, as always is, "It depends."

If you are hoping to sell a studio or a 1 bedroom unit, the market is hot! Currently, there is only one studio for sale and one 1 bedroom unit available for sale. Unit 709, an ocean view on bedroom unit, sold for $749,500. That's a record all-time high for one bedroom units. Unit 942, an ocean view Penthouse studio, sold for $470,000, which is also approaching record territory.

Two bedroom unit sales got off to a slow start for th year, but finished iwth sales in May and June closing at $939,167 and $977,000 respectively. That leaves just 2 fee simple, ocean view 2 bedroom units for sale, along with 3 well priced leasehold units for sale.

As always, cash is King. Of the 6 sales year-to-date, 5 of the were cash, including two by way of 1031 exchanges. 

Year-over-year sales are down significantly at K. Shores. In the first 6 months there were only 6 sales compared to 15 last year. That decline is primarily due to lack of supply. There were 28 units for sale during the first 6 months of 2018, compared to only 18 this year.

The story for the general Maui condo market is somewhat similar. New listings are off 11.5%, sales are off just 5%, and the median selling price is up almost 7%. In the Kaanapali area, the stats through May show that unit sales are down 22.4%, but the median selling price is up a whopping 21%.

If you are thinking of selling, the market is hot, and we are at or approaching record selling prices in all categories. 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. 

July 11, 2019

Aina Nalu News Q2 - 2019

Aloha from your resident experts!

From April 1 to June 30 there were 11 listings and 8 closed sales. There weren't any expired or cancelled listings at the end of the quarter. There were 3 pending sales and 0 active listings at the end of the quarter.

Sales activity at Aina Nalu picked up even further in the 2nd Quarter, with 11 listings, 8 closed sales, 3 in escrow at the end of the quarter, and no remaining active listings as of July 1. 

Prices continue to inch up. The highest priced closed sale was $545,000 for unit C107, a 2 bedroom, 2 bathroom downstairs unit which was not listed on the MLS. Three of the sold properties were not listed on the MLS - the two others were studios that sold for $300,000, the highest price ever for an Aina Nalu studio. Also, unit C101, another 2 bedroom, 2 bathroom downstairs unit, was listed at $565,000 and went into escrow the same week it was listed, and unit K203, an upstairs 2 bedroom, 1 bathroom unit, is in escrow with a list price of $555,000. Unit J105, a downstairs one bedroom unit, is in escrow with a list price of $450,000, and unit H205, an upstairs 2 bedroom, 1 bathroom, sold for $495,000. So, we are finally back to the prices paid when the units were new in 2005 and 2006. Of the 8 closed sales, 4 were 1031 exchanges, 3 were financed, and 1 was cash. Of the 5 sales that were listed on the MLS, 3 involved a Keller Williams Realty Maui agent.

The good news is that while prices are increasing, buyers are coming in with enough cash to close even when the appraisal doesn't come in at purchase price, which is not uncommon in a market with increasing prices.

The lack of available inventory is driving the price increases. Owners are getting calls and receiving emails from realtors looking for property to sell, and some owners are not listing their property on the MLS because they have already found buyers.

Interest rates are still very low, and occupancy seems to be strong so far this year. We have no inventory to sell today at Aina Nalu, so the question remains as to how much further prices will increase this year.

On a year-to-date basis, overall Maui condo sales volume has decreased by 8.7%, and closed sales are down by 4.9%, while the median price has increased by 6.7%. Aina Nalu's year-to-date sales in 2019 are up by 85.7%m from 7 sales in the first half of 2019, while sales volume is up by 112.3%, from $2.930 million last year to $6.221 million in 2019.

It's still a great time for sellers, and we are here to help you if you were thinking of selling. 

_____________________________________________________

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.

July 11, 2019

New Listing at The Whaler at Kaanapali!

Aloha,

Whaler 420, 1 bed, 1 bath, 901 SF, 1,200,000

Have you ever strolled down the meandering boardwalk in Kaanapali and wish you lived along the long stretch of white sandy beach and sparkling turquoise water? 

Our new listing at The Whaler could make all your dreams come true. Unit 420 was recently renovated from top to bottom, so it looks and feels brand new. However, the most striking feature of the condo is, of course, the view. 

The lanai is on the cool, North side of the condo and though slightly set back from the beach, you are still plenty close to see and hear the waves break on the beautiful sandy beach, watch the breath-taking sunsets and even see the whales play during whale season. Not to be outdone, if you turn your head, you can also enjoy the West Maui Mountains which are just as beautiful in their own right. 

Once you've had a chance to take in the view, head back inside to your luxurious new condo and make breakfast in your gourmet kitchen. With striking Lemurian Blue granite counter tops highlighted with iridescent deposits of abalone shell, you'll never want to eat out again (though there are some great restaurants just a short stroll away at Whaler's Village). The appliances are all stainless steel and the cabinetry is custom hardwood.

Another stand-out feature of the condo is the large storage space with a full-size washer and dryer, which can also be used as a locked owners closet if you choose to rent your condo. 

This condo is beautiful from floor to ceiling! To find out more about Whaler 420, click here and then contact your favorite realtor to set up a showing today!

With warm aloha!

Posted in Listing News
July 10, 2019

Price Improvement! Hale Royale D101

Aloha!

Hale Royale D101, 2 bed/2 bath/1,122 SF/**$495,000

Hale Royale is located in quiet Honokowai, about 15 minutes North of Lahaina. As a result of the many micro-climates on Maui, the weather is slightly cooler (and in the middle of July, believeyoume, you will notice!) and there is a little bit more rain to make it even more lush and beautiful. 

The condo is located just steps away from a sweet little beach park, a coffee shop and a local farmer's market. There are two pools and tennis courts on property as well, so you really never have to leave your little piece of paradise. 

Hale Royale is also a great rental investment. The property restricts rentals to long term only, so there is opportunity for consistent income and less hassle than a vacation rental property. 

D101 features an open floor plan with vaulted ceilings, and a large comfortable lanai overlooking a greenbelt and one of the pools. The bedrooms are downstairs (think cooler sleeping temperatures!) and the master opens onto another lanai and onto the green space. 

One of the most affordable 2 bedroom, 2 bathroom fee simple units on Maui's West Side just got even more affordable with the recent price improvement. Contact your favorite realtor today and set up a showing!

**Price Improvement

With warm aloha!

Posted in Listing News
July 3, 2019

Sold! Maui Eldorado J222

Aloha,

Maui Eldorado J222 just sold at a RECORD PRICE! Congratulations to the new owners!

 

CLICK for more information on how we can help you BUY your next home.

CLICK for more information on how we can help you SELL your home.

 CLICK for more information about the advantages of a 1031 Exchange.

 
Aloha Group Maui - Keller Williams Realty Maui can help you buy, sell or exchange a home or condo - for you to live in full time, part time or as an investment. Learn more about Maui Real Estate in our Maui Real Estate 101 resources section. Stay informed of market trends by reading the Maui Real Estate Advisor. Aloha Group Maui - We Are Your Maui Real Estate Professionals.

 

Posted in Listing News
June 28, 2019

New Listing - Aina Nalu C101

Aloha!

If you have been looking for the best real estate buy on Maui, look no further! Aina Nalu C101 is the ideal condo whether you are planning on using it as an investment or planning to enjoy living in paradise. It has outstanding rental history and is in the ideal location within the Aina Nalu complex (not to mention Lahaina!). C101 is facing the saline pool and the back door opens onto a green lawn to enjoy the indoor-outdoor living in Lahaina. 

A great room style living and kitchen area separates 2 bedroom suites, so everyone has a nice large sleeping space and bathroom.

Located right in the heart of Lahaina, Aina Nalu is within easy walking distance of a variety of restaurants, coffee shops, shopping, the harbor and beautiful beaches. There really is no reason to have a car, the Maui bus is readily available, as is Uber or other driving services. 

The grounds contain a green belt, Zen garden areas, and other beautiful palms and tropical foliage areas. There are 2 pools, including an oversize saline pool (salt water) with a hot tub and pavilion. It is the perfect gathering area for family and friends.

Please contact your favorite realtor to schedule a showing at this tropical oasis today!

With warm Aloha!

Posted in Keller Williams
June 26, 2019

Wednesday Feature - Napili Surf 210

Aloha!

Napili Bay is arguably one of the prettiest beaches on Maui (don't believe me? Just try to find a parking place starting at around 11). It is the quintessential Maui beach with sparkling turquoise water, swaying palm trees and an expanse of white sand to dig your toes in. On any given day there will be stand-up paddlers, snorkelers, and swimmers in the water, children young and old playing in the sand, and sunbathers reading books. 

Just finishing a year-long renovation, Napili Surf Beach Resort is located at the South end of Napili Bay. The resort is literally steps away from Napili Bay and features beachfront BBQs, a pool and beautifully manicured grounds. The interior of Napili Surf 210 has been completely updated and modernized as well, with all new cabinets, granite countertops and stainless steel kitchen appliances. 

Close to shopping centers, restaurants, coffee shops, golf courses and walking trails, Napili Surf Beach Resort has it all! Contact your favorite realtor today and set up a showing! We'd love to spend the afternoon at the beach with you!

With warm Aloha!

Posted in Listing News
June 5, 2019

Sold! Aina Nalu H205

Aloha!

Just sold in Lahaina!

Aina Nalu is our favorite condominium complex in Lahaina and we are excited for the sale of H205! Congratulations to the new owners. 

 

CLICK for more information on how we can help you BUY your next home.

CLICK for more information on how we can help you SELL your home.

 CLICK for more information about the advantages of a 1031 Exchange.

 
Aloha Group Maui - Keller Williams Realty Maui can help you buy, sell or exchange a home or condo - for you to live in full time, part time or as an investment. Learn more about Maui Real Estate in our Maui Real Estate 101 resources section. Stay informed of market trends by reading the Maui Real Estate Advisor. Aloha Group Maui - We Are Your Maui Real Estate Professionals.

 

Posted in Listing News
June 4, 2019

Sweetest Spot on Maui! Hale Napili 18

Aloha!

Have you been dreaming of the beach? Well, dream no more! We just listed an extremely rare slice of paradise right on Napili Beach. This boutique condominium complex is what guests and owners think of when they think of Old Hawaii. It's Maui the way it used to be without the crowds, without the hurry, right on the beach. It has all of the modern conveniences, but maintains the charms of old Maui.

Hale Napili is situated in the middle of beautiful Napili Bay, arguably one of the best beaches on Maui (shh, don't tell anyone). It has only 18 units, so you really do feel like you are living in your own little secret paradise. The beach is less than a coconuts throw away, but there is also a great grass lawn right in front of your property (think new front lawn without any maintenance!), where you can relax and casually watch the sunsets, the whales, the turtles, and the people at play in the sand and the surf. 

The studio unit for sale is neat and well-maintained. There is a new stainless steel stove. The living area is carpeted and the kitchen and bathroom are tiled. There is a large step-in double shower.

We look forward to showing you one of the sweetest spots on Maui, so contact your Realtor for more details on this condo for sale on Maui today!

Find out more about Hale Napili 18 here!

With warm Aloha,

Lahaina Lee

Posted in Listing News
May 29, 2019

Hale Royale D101

Aloha,

We are excited about our new condo for sale on Maui! It is one of the most affordable 2 bedroom, 2 bathroom fee simple condos on the West Side. 

The condo features an open floor plan with vaulted ceilings and two large lanais (one off of the upstairs living room and one off of the downstairs master bedroom) that overlook and open up to a green space.  

Hale Royale is located just a short stroll from the sweet little Honokowai Beach Park and to the famous Honokowai Farmer's Market, which has fresh, local produce and is a great spot to get a delicious, healthy homemade lunch. 

This is a great place to call home or for a long-term rental. Contact your favorite Realtor to arrange a showing of this Maui condo for sale!

2 bed | 2 bath | 1,122 SF | $500,000 | MLS #383019

With warm aloha,

Lahaina Lee

Posted in Listing News