August 2017

Found 7 blog entries for August 2017.

The Realtor's Association of Maui has released it's monthly report on Maui's real estate statistics for July 2017.   

Maui Real Estate Quick Overview July 2017

While there are fewer properties to sell when compared with 2016 and inventory is down, the Median Sales Price is up.  For more information read: Maui Real Estate Statistics.

The resort market trends are also showing an upward trajectory, particularly condos in the resort areas of Wailea, Makena and Kapalua.  Condo and home sales are down in Kaanapali.  Home sales are also down in Kapalua, while up in Wailea.  Though it should be noted--with such a small sampling, the statistics can vary widely at any given time.  

To put it in perspective, there are 1877 condominiums and 1181 homesites in the Wailea Resort and 219

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Sentry TOCImage Courtesy of Getty Images and Sentry TOC

NEW TITLE SPONSOR FOR KAPALUA'S PGA TOUR TOURNAMENT OF CHAMPIONS AND PRO-AM INFORMATION

Sentry Insurance has signed a five year agreement as title sponsor for the PGA TOUR's premier event, the invitation only Tournament of Champions.

Golf's brightest and best flock to Maui each year for this winner's only tournament.  The defending champion is Justin Thomas (2017).  Past winners include Jordan Spieth (2016); Patrick Reed (2015); Zach Johnson (2014); and Dustin Johnson (2013).

The prestigious tournament dates back to to 1953, starting at Las Vegas’ Desert Inn Country Club, as an event for winners from the previous season. After moving from Las Vegas to California for thirty years, it finally settled

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The Hōkūleʻa returns to Kapalua, Maui

After three years of sailing around the world, the Hōkūleʻa is returning to Honolua Bay, Maui.

Back on May 1, 1976, the Hōkūleʻa set off from Honolua Bay on it's inaugural sail to chart the course to Tahiti.  I was fortunate enough to be there, along with my father, Duke, to witness their departure for, what was to be, an historic voyage and the beginning of a movement to Mālama Honua, or care for our island earth.

Hōkūleʻa Worldwide Voyage: Mālama Honua Worldwide Voyage: 3-minute overview video

Now, some 41 years later, the Hōkūleʻa has returned to Honolua Bay on the Mahalo, Hawai'i Sail.  The Polynesian Voyaging Society (PVS) has announced that this will be a six month journey throughout the

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KAPALUA RESORT CONDO SALES: 

KAPALUA VILLAS & THE LUXURY CONDOMINIUM SECTOR

Comparing the YTD sales in the various Kapalua condominium communities, we are seeing increases in some areas and not in others. I have broken the graphs below into two segments: the Kapalua Villas (Bay, Ridge and Golf) and the Luxury Condominium Segment (Montage Residences, Kapalua Bay, Coconut Grove, Ironwoods and the Ritz-Carlton Residences).

KAPALUA RESORT CONDOMINIUM SALES: Key Metrics
CONDO SALES: January 1-July 31, 2017 vs. January 1- July 31, 2016

KAPALUA CONDO SALES AVG SP  NO SOLD  VOLUME AVG DOM ABS RATE
Coconut Grove on Kapalua Bay $4,683,333 | -11%           3 | 200%*  $14,050,000 | +168%  54 | NA  NA
The
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A Look at the Resort Markets as compared with the overall Maui Real Estate Market.

Maui's Resort Markets of Kaanapali, Kapalua, Wailea 

January 1-July 31, 2017 vs. January 1- July 31, 2016

Comparing the YTD sales in the resort markets with the same period in 2016, we are seeing more condo sales in Kapalua and Wailea and Makena, while in Kaanpali, condo sales is down. Inventory is increasing in the condo markets, with the exception of Wailea, which has an absorption rate of just 9.2 months.  Part of the substantial growth in the Kapalua Condominium Market can be attributed to sales at the Montage Residences Kapalua Bay with 3 sales ranging from $3.795-$6.475M (which is the highest condominium sale on record for 2017 on Maui), and Coconut Grove

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The Plantation Estates, Kapalua, Maui

Kapalua Plantation Estates Lot for Sale600 Honokohau: Undeveloped Land for Sale in the Plantation Estates, Kapalua

The golden rule of real estate is Location, Location, Location.  However, on Maui the location's value is enhanced by a rather intangible characteristic that varies based on personal preference: view.

Not all homesites are crated equally...this is particularly true here in Kapalua's Plantation Estates, where view is everything to a buyer and has a tremendous impact on valuations. Added to that are more subtle factors, such orientation with regard to the prevailing trade winds and the sunset, buildable area, and whether there will be a lot of site work involved. The ideal orientation for most in Kapalua is to face the channel between

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Hōkūleʻa Returns to Honolua Bay, Kapalua, Maui in the Mahalo, Hawai'i Sail

Hokuleia Honolua Bay

Photo Courtesy of Multicopter Maui

Back on May 1, 1976, my father took me to Honolua Bay to see the Hōkūleʻa embark on its maiden voyage to Tahiti.  Several of his childhood friends were crew members on this double hulled voyaging canoe, named after the star of gladness, and we watched as they left the Bay setting sail to chart the course of their ancestors.  I was quite young, and the memories come in flashes, so I don't recall the size of the crowd back then, but my father tells me it was a fairly small gathering.

Since that time, the Hōkūleʻa has celebrated 40 years of voyaging, been proclaimed Hawaii's first state treasure, and has been blessed by the Dalai Lama

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