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. 7, 2019

Hale Royale D101 Price Improvement

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
Aug. 4, 2019

Just Sold - Papakea L106 & Papakea E304

Aloha! 

We are excited for our two recent closings at Papakea! 

We represented the Seller for Papakea L106, a 2 bed, 2 bath, 861 sq. ft. condo. It sold for $570,000 Leasehold.

For Papakea E304, a 435 sq. ft. studio, we represented the Buyer and helped our client purchase the condo for $405,000 Fee Simple.

Congratulations to both our Seller and our Buyer!

Papakea is perfectly located and within easy walking distance of restaurants, the local Farmer's Market, coffee shops and more. The property boasts amenities like two oceanside swimming pools, tennis courts, hot tubs, putting greens, a shuffleboard court, BBQ area and 24-hour desk service. 

Papakea is ideal for both a special second home or for rental income. 

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. We are your Maui Real Estate Professionals. 

Posted in Listing News
Aug. 1, 2019

Maui Real Estate Advisor - Mid-year 2019

Mid-Year 2019 Sales Statistics

#1 question in real estate is..."How's the market?" The answer is, it depends on what market you're talking about?

What I seem to be hearing from most of the national sources is that a correction is overdue. It is not particularly clear what a "correction" is or what it means. If it is supposed to mean that prices are going to drop, I don't see that happening, at least not on Maui.

Why not? It's the most basic economic law in the book, supply and demand. The National Association of Realtors tells us that a "balanced' market has about 6 months of inventory. The inventory on Maui right now is about 4.8 months of homes for sale and only 3.9 months of condos for sale. 

And, as you can see from the chart above, inventory (supply) has been shrinking since 2010. Mid-year 2010 there were about 1,700 condos for sale. Halfway through this year, at the end of June, we had just 476 condos for sale.

New listings for single family homes are actually up for the year with a 5.5% increase over 2018. However, demonstrating the demand side of law, the inventory of homes for sale is down 17% since January. 

To illustrate the importance of which market we're talking about, of the 88 homes sold in June, 44 were sold for the median selling price of $750,000 or less. Currently, there are 91 homes on the market priced at $750,000 or less. So, for those hoping to buy a home at the more "affordable" end of the price range, there is barely 2 months of inventory available. 

There is no indication of a price correction coming in the mid-price or low range of Maui's market for either homes or condos. Sales in both categories are dropping due to the aforementioned lack of inventory, and a large group of the population is being priced out of the market.

If you are thinking of selling, there is no time like the present. If you thinking of buying, I don't see prices coming down, but interest rates are still excellent. Remember, every 1% increase in interest rates reduces your buying power by 10%. Sharpen your pencil and keep looking for whatever will work to get you into the market.

Condos - Area and Regional Highlights

At mid-year the hot spot for condo sales by a wide margin was Kihei with 318 sales for the first half of the year. If you add the Wailea/Makena sales in with Kihei, it brings Maui's South Side up to 401 sales for the year, far outpacing Maui's West Side, which had only 289 sales during the same period.

For Kihei, the number of sales this year is almost identical to last year. Both the average and median selling prices are up significantly at 9% and 8% respectively. 

Wailea/Makena has really dropped off. The number of sales is down over 35%. The average selling price is flat, but the median is up by 8% indicating a bit more activity at the higher end of the market.

On Maui's West Side, Kaanapali is the only area showing a decline in sales year-over-year. Inventory in Kaanapali is down. On the other hand, sales are up in the Kapalua, Lahaina, and the Napili/Kahana/Honokowai areas.

Napili/Kahana/Honokowai sales are up by almost 10%. A plethora of sales at the leasehold complex of West Maui Trades helped to depress the average selling price by 5%. However, the median selling price was stable with a 1% increase overall.

Sales in Maui's Central District, Kahului and Wailuku, dropped by over 20% as supply continues to shrink in Maui's most affordable place to live.

Wailuku had 68 sales, down by 23%. There are currently just 9 condos on the market in Wailuku. As you might expect the average selling price is up 22% and the median has skyrocketed well over 36%.

One final area of note is Maalaea. Sales at the second windiest harbor in the world dropped by 30%. But it wasn't because of the wind. Maalaea is really a nice spot, there just isn't much for sale there. The average price is up 11%

Single family home - Area and Regional Highlights

The area with the highest number of single family home sales was Wailuku. Kahului, the other city in the Central District had the 3rd most sales on Maui, making Central Maui the dominant district for home sales. Sales in Wailuku were down 7.5% with the average selling price up 7% and the median up just 2%. With a monthly average of 20 sales and only 48 homes for sale, there is just over 2 months supply in Wailuku.

Kahului sales were off by 24.5%, and both the average and median prices were down slightly. At the current pace of sales, Kahului has just enough inventory for 2.5 months.

With 83 sales, Kihei had the second most sales of any area. Sales were off by 6% with the average price down by 1.5%, but the median was up 19%. With 35 homes on the market, Kihei has enough homes to last for almost 3 months.

On the West Side, Lahaina sales are off by almost 6%, with selling prices down an average of 12.7% and the median price down 6% to $800,000. That said, there is exactly 1 (one) house for sale in the Lahaina area for less than $800,000. That house, by the way, is pretty much just a teardown.

In Kaanapali, sales are down by 43%. The average and median sales prices are virtually flat. 

In Napili/Kahana/Honokowai areas, sales are up 20% with the average selling price also up 20%. The median was actually down 2%. Why was there such a difference? The average was skewed by a single sale of $9,000,000. Sadly, that was not my sale.

Kapalua sales are up with 11 sales this year compared to just 8 last year. The average selling price is off by a whopping 47% and the median is down 23%.

Other areas of interest include Haiku, where sales are down 10.5% and the median selling price is up by 6%. 

In Kula, sales and the average selling prices are completely flat. However, the median price is up almost 11%.

Pukalani, also considered Upcountry, had a sales increase of 76.5%! The average selling price is up 14% to $766,530 and the median is up 5% to $724,000. They have enough inventory for 4 months.

Like its Upcountry neighbor, Makawao, also had a nice jump in sales of 42%. The median selling price was up just 3% to $680,000.

For more information send an email with your request to info@alohagroupmaui.com or see all of the listings on Maui at AlohaGroupMaui.com.

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.

 

July 31, 2019

The Pinnacle of Perfection - 98 W Mahi Pua

Aloha!

If you're looking for the perfect home, you've found it! The view, the space, and the price all come together for the perfect pinnacle of perfection. 

The 'piece de resistance' is the view from the upstairs lanai and the spectacular infinity pool. The unobstructed view looks out over the beautiful green fairways of the Kaanapali golf course and out to the azure Pacific and the island of Lanai. The angle of this vista provides you with the breath-taking Maui sunsets year-round. In fact, you can enjoy the beautiful view from the living room, gourmet kitchen, the master suite and the 2 downstairs guest rooms.

The home has over 5,600 square feet under roof. There is 3,889 sq. ft. of indoor living space with 3 en-suite bedrooms and 2 additional convenient half bathrooms. The grand living room features large retracting multi-panel doors that disappear so you can seamlessly transition from inside to the magnificent covered lanai and infinity pool. The gourmet kitchen has top of the line appliances, a wrap around granite counter and the kitchen window accordions out to make the view even more seamless and make it easier to use your extended outdoor kitchen.

The Pinnacle is priced below market value. Compare it to other sales of similar properties in this neighborhood (or any other luxury neighborhood on Maui) and you will immediately grasp that this house is a great value. 

Nestled at the end of a private drive and the end of a cul-de-sac, the Pinnacle House is also perfectly private. Beyond your back yard there are no neighbors, just a ravine that borders the golf course situated well below your home. The exclusive neighborhood is in its own small gated community within the gated community of the Kaanapali Golf Estates.

So, whether you're looking for a perfect family home or your own Maui retreat, the Pinnacle House is a must see! Click here to see more and then contact your favorite realtor today to set up a showing!

With warm aloha!

Posted in Listing News
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