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!

 

Aug. 24, 2022

Daily Dose of Vitamin Sea ~ August 24, 2022

Aloha!

Chicken fans everywhere are looking forward to next week (tentatively with fingers crossed), both Raising Cane's and Chick-fil-A are set to open in Kahului! Read more here

Schools are several weeks in, and other than a prolonged power outage yesterday, all seems to be well on that front...for the first time in over 2 years! Athletic events have begun and fans are filling the seats. We are so glad to be able to support the kids again.

The beaches are beautiful and we continue to be grateful we can call Maui home. Let us know how we can help you!
 
Going out on the Scotch Mist is one of our favorite things to do and the beauty of the sunset and the ocean never disappoint. 
 
Look, up at the sky.
There is a light, a beauty up there,
that no shadow can touch.
~ J.R.R. Tolkien
 
"Courtney was amazing and did a great job of finding us a condo that met all our needs. She listened to what we were looking for and despite the crazy market she persisted in getting us options. She offered great advice and insights about the market and the best way to land a property here. We really enjoyed working with her and her team."
~ Kimberly
Posted in Community, Maui Fun
Aug. 15, 2022

Daily Dose of Vitamin Sea ~ 8/15

Happy Monday! 

I saw a meme the other day that remarked on how long January, February and March felt, how April was a normal pace and MayJuneJuly just flew by (it was of course much funnier) and that now, gasp, we're in the middle of August. Who else is shocked that this year is already more than half over!

Life after summer is getting back to normal, schools have all started now, fall athletics are in full swing and the weather is HOT, HOT, HOT! In other news, Hawaii Primary elections happened on Saturday, see results here and things are staying busy on the island.

Let us know if you'd like to chat, otherwise we'll see you at the beach!
 
Always beautiful!
 
I just need some time
to let this all soak in.
 
"The Aloha Group recently sold our property in Lahaina! I can't say enough about the fabulous service and attention to detail that they provided for our family in the course of the sale. Keri Nicholson went above and beyond. She kept us informed of all the details and complications that arose and took care of everything as we did not live on island. I highly recommend this marvelous group if you are looking to sell your property!" ~ Nancy
 
Posted in Community, Maui Fun
Aug. 2, 2022

Maui Real Estate Advisor ~ July Real Estate Statistics


Interest rates have skyrocketed, sellers are dropping prices, we're dangerously close to recession...Is the real estate sky falling?

Um...No, not really, not yet anyway.

Inventory is up, sales are down, and sellers are lowering their asking prices, but the actual selling prices? Well, those are still climbing.

SALES:

Home sales dropped 13% in June to 85 sales. That just happens to be the same number of sales on the island as back in February. The decrease in sales combined with a 28% increase in inventory gives us 3 months' worth of homes for sale. While it is still very much a seller's market for homes, higher inventory should mean more choices for buyers. However, the median selling price still rose again in June.

Condo sales, on the other hand, did not decline during June. There were 150 sales, the same number of sales as in May. The median selling price rose a whopping 16% and the average price was up 11%. Inventory for condos climbed 30%. That sounds like a huge increase, but we still have just 1.4 months of inventory. So, it is still a strong seller's market here on Maui. 

INVENTORY:

Inventory tells us how many properties are available for sale in each category. We started seeing some growth in inventory in May for homes and condos. However, even the combination of increased inventory and increased interest rates are not yet impacting selling prices. 

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.

So while the average home price declined in June, the median still increased. We also saw increases in both the average and the median selling prices for condos.

Where is real estate going? What's the news and what can you expect?

The reporters are talking doom and gloom. In fact, the Wall Street Journal reported that three-quarters of global CEO's say we are in a recession or will be in the next 12-18 months. Corelogic, one of the largest real estate data firms, points out that a recession doesn't equal a housing crisis.

It may be counter intuitive, but in the last 6 recessions, home prices actually increased.

Why? People are still going to get married and have babies. They'll need a bigger house. The babies will grow up and move out. People will need smaller houses. There will still be divorces, and houses will be sold and bought, and people who come to Maui will still likely want to own on Maui.

While interest rates are up, double those in 2021, they were down this week. And, as it relates to recession, rates tend to decline as recessions reach their end. According to Fortune Magazine, in the last 5 recessions mortgage rates fell an average of 1.8% from peak to trough.

I'm not saying the shifting market won't be stressful. Many of us went through a very hard time during the housing crash of 2007 and the next few years following. But the fundamentals today are very different than in 2007. We are in a seller's market today; '07 was a buyers' market and lenders were giving loans away to anyone who could fog a mirror.

So, if you are having second thoughts about buying you might take some comfort in what the experts are forecasting. 100 economist forecast that 2022 prices will be up 9.3% compared to 2021. You can see in the chart below that the increase in home selling prices is decelerating through 2024. It is very important to understand that deceleration does not mean stopping or declining. The expectation is that prices will continue to rise at a "normal" pace for the foreseeable future. 

If you are thinking about selling, it's still a seller's market. While interest rates are up, we are still seeing multiple offers, and 30% of June home sales were cash offers. For condos 40% of the transactions were cash offers. I do offer a word of caution. If you are thinking of selling, don't dawdle. While we don't see a downward trend in the numbers, headlines of gloom and doom tend to become self-fulfilling prophecies.

If you are thinking of buying, let's talk about your goals. If it's the right time to your goals can be met, great. If the timing and the market aren't right for you, then let's see if we can help you develop Plan B. We understand what's at stake, and there will never be pressure or overselling from our team.

______________________________________

Get more information and details

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

 

About Aloha Group Maui

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

 

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

 

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

 

Copyright 2022 L. Lee Potts

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

 

July 22, 2022

Daily Dose of Vitamin Sea ~ 7/22

Happy Aloha Friday! 

So the waves were pretty exciting last week! And while we unfortunately don't have any videos, there are plenty out there of all the action, on Maui and the other islands.

Restaurants along the North end of Front Street were closed, after the waves came in and drenched the diners and their dinners, and 19-year-old locals were seeing waves that they had never experienced in their lifetime. It was, as they say, an epic swell.

Have a great weekend, and let us know if you want to chat!
 
Congratulations to the Aloha Group Maui team! We couldn't do it without great support, great clients and a great team!
 
It's all about find the calm
in the chaos.
~Donna Karan
Posted in Community, Maui Fun
July 12, 2022

Aina Nalu News - Q2 2022

Aina Nalu News

Presented by Aloha Group Maui

Issue 67, Q2 - 2022

 

Aloha from your resident experts!

The second quarter of 2022 has felt like a return to the days of yore...or at least the days before COVID. We have enjoyed community events again: the King Kamehameha parade, fireworks on Front Street, concerts at the MACC and even just simple things like being able to go to a movie. Even real estate seems to be settling a little bit.

Though perhaps that isn't exactly the case at Aina Nalu. Units continue to sell before they are even listed and prices only continue to increase. Days of market ranges from 15 to 72 days, with a low average of 36 DOM. Everyone wants to own at the best resort in Lahaina!

Here is a summary of what happened in Q1 2022 vs. Q2 2022: 

As of July 5, there are two units in escrow, B101 was in escrow at quarter's end and D103 went into escrow as of July 5. B101 is listed at $800,000 and D103 is listed at $850,000. We closed the quarter with the highest sold price in Aina Nalu history.

Overall, real estate does seem to be slowing down, overall number of escrows is down and inventory is up a little bit. However, what hasn't changed is prices, it is still a seller's market!

From April 1 - June 30 there were 5 listings and 4 closed sales. There were 0 cancelled listings, and 0 expired listings at the end of the quarter. There were 0 active listings and 1 pending sale at the end of the quarter.

 For more details on current Maui real estate prices and sales, go to the Maui Real Estate Advisor for all the stats. 

July 8, 2022

Daily Dose of Vitamin Sea ~ July 8, 2022

Happy Aloha Friday! 

What's on your weekend agenda? If you're on Maui, here are some ideas: Whatever you do, and wherever you are, we hope you have a fantastic weekend! 
 
Congratulations to team member Cheri Miller! She just received her Graduate Realtor Institute designation which means she is "in the know" about the latest and greatest real estate technology and local and national legal issues. 
 
Don't turn around, don't look back.
Keep moving forward.
Keep pushing, the pot of gold is at the end of the rainbow not the beginning.
~Ziad Abdelnour
Posted in Community, Maui Fun
June 30, 2022

Daily Dose of Vitamin Sea ~ June 30, 2022

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

Aloha!

This summer is flying by! We have been so thankful for the return of some of our favorite traditions. 

Lanai is having an aerial display on July 2 as part of their 26th Annual Pineapple Festival (which sounds pretty fun in and of itself!!). The fireworks will start at 8:30 from none other than Dole Park. 

And, our favorite fireworks are happening again from a barge just off of Front Street in Lahaina. They are set to begin around 8:00. We'll see you there!
 
The King Kamehameha Parade was back this year!
 
I love to soar in the boundless sky.
In the vast emptiness of the blue, my soul rejoices listening to the soundless music of the wind.
~Banani Ray
Posted in Community, Maui Fun
June 3, 2022

Daily Dose of Vitamin Sea ~ June 3, 2022

Happy Aloha Friday!

If you're on Maui and don't have plans this weekend (and you like livestock...), check out the Maui AgFest & 4-H Livestock Fair. Even if you don't like livestock, we're excited that another community event is able to happen again! There is all sorts of excitement, pancake breakfast, Grown on Maui Farmers' Market, Livestock show and more! Admission is free and it will be held at War Memorial Stadium on Saturday, from 9-4:30. Click here for more information

If you're looking for something on the other end of the spectrum, the 41st Annual Kapalua Wine & Food Festival is happening June 9-12. There are some pretty tasty options, and some events are already sold out. Click here for the schedule and ticket sales.

Whatever you decide to do this weekend, we hope it is relaxing. Let us know how things are going! 
 
Thank you to all of you that have trusted us with your piece of paradise. We couldn't have achieved this without you!
 
Life takes you down many paths,
but my favorite ones lead to the beach.
Posted in Community, Maui Fun
May 17, 2022

Daily Dose of Vitamin Sea ~ May 17, 2022

Aloha!

There are two more weeks of school here (can anyone else believe it!) and the heat of summer feels like it is in full swing. Thank goodness for the trade winds! Maui is surprisingly busy in the summer months, but with fuel (who else wants to go back to the horse and cart system?!?) and hotel prices the way they are it will be interesting to see how this summer compares to a pre-COVID summer. 
At any rate, whatever your summer plans are, we would love to answer any questions, or just catch up. Feel free to call or email us anytime!
 
Whoever started the sweet childhood story that roosters only crow one time just as the sun comes up obviously did not live in Hawaii...no, it's ALL. DAY. LONG.
 you are exactly where you need to be
Posted in Community, Maui Fun
May 5, 2022

Daily Dose of Vitamin Sea ~ May 5, 2022

Aloha!

As much as things seem to be getting back to normal, there still seem to be a few random disappointments. For some (not me mind you) it is the cancellation of the Maui Fair, for the third year in a row. There was also a short-lived ban at a local high school on lei-giving at graduation, fortunately, there was such an outcry from the community, the school reversed the decision.

Speaking of lei-giving at graduation, which is coming up shortly here on Maui, if you've never had the opportunity to participate in a Hawaiian graduation ceremony (or any other big occasion really) you're missing out! It is one of my favorite traditions seeing the students celebrated and honored with a neck full of leis. It is a truly beautiful event.
As always, we would love to answer any questions, or just catch up. Feel free to call or email us anytime!
 
"She loved the sea. She liked the sharp salty smell of the air, and the vastness of the horizons bounded only by a value of azure sky above. It made her feel small, but free as well." 
~ George Martin
Posted in Community, Maui Fun