<?xml version="1.0" encoding="UTF-8" ?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
    <channel>
        <atom:link href="http://www.luxuryrealestatemaui.com/blog/2022-03/rss/" rel="self" type="application/rss+xml" />
        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/2022-03/</link>
        <description>Courtney M. Brown, Realtor (S) Blog: information on the Maui real estate market, trends, and listings. Homes, condos and land for sale.</description>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/where-do-buyers-of-maui-real-estate-originate-the-2021-maui-real-estate-market-overview.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/where-do-buyers-of-maui-real-estate-originate-the-2021-maui-real-estate-market-overview.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Where do Buyer's of Maui Real Estate Originate? The 2021 Maui Real Estate Market Overview</title>
    <description> <![CDATA[ 
Maui Real Estate Market Overview and Buyer Statistics: 2021


Many Sellers want to know where buyers of Maui County real estate call home (in this case, their legal residence).  Historically, buyers originate largely from the state of Hawaii.  In total, there were just 55 sales to foreign nationals out of 3,044 in 2021, accounting for just 2 of the sales volume (number of sales) and 3 of the dollar volume ($).   Buyers from the US represented 98 of the sales volume and 97 of the dollar volume.


The majority of Maui's buyers are Hawaiian residents, representing 64 of the sales volume (number of sales) and 50 of the sales volume ($).  California runs second with 15 of the sales volume and 19 of the dollar volume ($).  Washington follows as a distant third with 4 of the sales volume and 7 of the dollar volume ($).


There is often a misperception that the majority of our foreign buyers come from Asia.  While this might be true for Oahu's market (particularly Honolulu), it hasn't been the case for Maui County, which includes the islands of Molokai and Lanai, Kauai, and the Big Island.  


Each year, Title Guaranty, one of Hawaii's most reputable Title and Escrow Companies, provides us with Buyer statistics.  


MAUI BUYER STATISTICS: TOP FOREIGN AND US BUYERS


In 2021, we saw a similar pattern of where Buyers of Maui real estate originate, both from abroad and the mainland US.


When looking at statewide statistics, the top five countries where buyers originate are Japan, Canada, Korea, Singapore and China.  However, Canada continues to be the primary foreign feeder market for Maui Real Estate. 


The feeder markets for Maui within the US are Hawaii, California, Washington, Colorado, Texas, Oregon, Arizona, Nevada, Utah, Illinois, and Massachusetts.  This parallels the statewide statistics with the exception of Massachusetts, which is bested by New York.





MAUI REAL ESTATE BY AREA


When looking at our mainland markets, the largest mainland feeder markets are California, Washington and Colorado. This particularly holds true in the resort markets in West Maui (Kapalua, Kaanapali) and South Maui (Makena, Wailea, Kihei).  





Please feel free to contact me any time with questions or for more detailed information on a market that interests you.


 
 ]]> </description>
    <pubDate>Tue, 29 Mar 2022 12:18:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/maui-property-tax-assessments-appeals-march-2022.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/maui-property-tax-assessments-appeals-march-2022.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Maui Property Tax Assessments &amp; Appeals: March 2022</title>
    <description> <![CDATA[ 
Each year, the County of Maui sends out a notice of the assessed value of a property on March 15th.  This is the first step in determining the taxes that each property owner will owe for the upcoming fiscal year, that starts July 1, 2022 and ends June 30, 2023.  The next step is the county council will meet in June and establish the new rates for each land class.  Read More about the Maui County 2021-2022 Real Property Tax Rates


The Notice of Real Property Assessment-January 1, 2022 for real property taxes due July 1, 2022 through June 30, 2023 are now available online.  These notices were mailed to property owners on 3/15/22.


The letters note that the assessed valuations were &quot;derived using comparable sales that recorded up to June 30, 2021.  The assessed values represent 100 of the full, unencumbered fee simple market value.  The Assessor uses acceptable mass appraisal methods and standards.  A separate notice of assessment will be sent for each land class&quot;


If a property owner disagrees with the valuation or a refusal to allow an exemption, they may file an appeal to the Board of Review.  They must cite the reason for the appeal which can be the following:




Assessment of property exceeds by more than 20 the assessment of market value used by the County.


There is a lack of uniformity or inequality, brought about by inability of the methods used or error in the application of the methods to the property involved.


You have been denied an exemption to which you are entitled. Please indicate your opinion of the exemption amount and type of exemption


The assessment methods are unconstitutional or in violation of State laws or County ordinances.


The General Land Class is incorrect. Please indicate your opinion of general land class


You have been denied a circuit breaker tax credit to which you are entitled.




The deadline for filing an appeal is April 11, 2022 (the 9th falls on a Saturday).  For more information visit the Maui County Real Property Tax websiteFile appeal online at https://mauismartfile.tylerhost.net/mauihi_sfAppeal Form: https://www.mauicounty.gov/DocumentCenter/View/8716/Appeal-Instructions-and-Form?bidId=


Important Dates*






Date


Event




15-Mar


Assessment notices mailed.




9-Apr


Deadline for filing appeals.




1-May


Certified assessments forwarded to the County Council for budget purposes.




20-Jun


NEW tax rates established by the County Council for the 2022-2023 Fiscal Year




1-Jul


Tax year commences. Taxes are calculated based upon January 1 assessed values and fiscal year tax rates.




20-Jul


First half of fiscal year tax bills mailed.




20-Aug


First half of fiscal year tax payments due.




1-Sep


Deadline for filing dedication petitions.




1-Dec


Condominium AOAO use declaration.




31-Dec


Deadline for filing circuit breaker applications for the next fiscal year.




31-Dec


Deadline for filing exemption claims and ownership documents.




1-Jan


Assessed values established for use during the next tax year.




20-Jan


Second half of fiscal year tax bills mailed.




20-Feb


Second half of fiscal year tax bills due.






Important information regarding real property assessments**:


APPEALS: The assessment covers the value, exemption, and classification of all taxable real property. Any taxpayer, who may deem themselves aggrieved by an assessment or refusal to allow an exemption, may file an appeal to the Board of Review. The deadline to appeal is April 11, 2022. The filing fee is $75.00. Online filing through the forms link at www.mauipropertytax.com is highly encouraged.


MAILING ADDRESS CHANGE: If your mailing address has changed, online filing through the forms link at www.mauipropertytax.com is highly encouraged.


CONDOMINIUM CLASSIFICATION (IMPORTANT CHANGES): In December 2020, Ordinance No. 5159, Bill No. 129 (2020) repealed Maui County Code 3.48.305(C). Effective January 1, 2022, all real property must be classified upon consideration of its highest and best use. Exceptions include real property that has been granted a homeowner exemption or a long-term rental exemption.


 LONG-TERM RENTAL EXEMPTION FOR 2023 ASSESSMENT YEAR: Real property occupied as a long-term rental under a signed contract to lease for twelve consecutive months or more on January 1, 2023 may qualify for an exemption up to $200,000. The filing deadline for the exemption is December 31, 2022.


HOME EXEMPTION FOR THE 2023 ASSESSMENT YEAR: Real property occupied as a principal home as of January 1, 2023, for more than 270 days, may qualify for an exemption up to $200,000. The applicant must file an income tax return as a resident of the State of Hawaii with a reported address in the County prior to January 1, 2023. The filing deadline for the exemption is December 31, 2022. Online filing through the forms link at www.mauipropertytax.com is highly encouraged.


AINA KUPUNA DEDICATION: In 2021, Ordinance No. 5307, Bill No. 118 (2021) was enacted which established a tax relief program for real property located in the Special Management Area and owned in whole or in part in fee simple by one or more descendants of the person who owned the property at least 80 years prior to the application. The filing deadline for this program is December 31, 2022.


LEARN MORE ABOUT REAL PROPERTY TAX ASSESSMENT ONLINE: Real property applications, forms, general information, and detailed assessment information, including agricultural use values, multiple owners, building descriptions, sales and Geographic Information System parcel maps can be found at www.mauipropertytax.com.


*Dates are taken from the Maui County website: https://www.mauicounty.gov/1111/Dates-to-Remember**Information taken from the Notice of Real Property Assessment January 1, 2022 for real property taxes due July 1, 2022 through June 30, 2023.  These notices were mailed to property owners on 3/15/22
 ]]> </description>
    <pubDate>Fri, 18 Mar 2022 14:37:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/pineapple-hill-market-update-march-14-2022.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/pineapple-hill-market-update-march-14-2022.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Pineapple Hill Market Update: March 14, 2022</title>
    <description> <![CDATA[ 
Pineapple Hill, Kapalua, Maui: residential market update





Sold: 320 Cook Pine Drive listed by Courtney M. Brown sold for $3,850,000.


About Pineapple Hill


Pineapple Hill is one of Kapalua's most popular residential communities.  A gated enclave developed in two sections, Pineapple Hill (now known as Pineapple Hill phase I), and Pineapple Hill Estates (2001).  Pineapple Hill was originally comprised of 99 homesites that were approximately a quarter acre in size.  Homes were restricted to one of six-floor plans (though later modifications would be allowed if the footprint was maintained with Design Review Committee Approval.  Custom homes were allowed if built on two or more contiguous lots.  Six such homes were constructed, which reduced the lots from 99 in phase I to 86.  The home sites in Pineapple Hill Estates are larger (approximately a half-acre) and a custom home can be constructed in keeping with the design guideline and there are 31 lots. 


In both phases of Pineapple Hill there is a combined total of 117 home sites.  Of these, there are 11 lots that have yet to be developed, 1 under construction, and 105 completed homes as of this posting.


The Current Market at Pineapple Hill: Pineapple Hill Homes for Sale


At the time of this post, there are just three homes listed for sale in Pineapple Hill.  236 Crestview is in Pineapple Hill Estates, and the other two homes are on a double lot.  There are no pending sales.  






Status


Address


List Price


Bds


Baths


Liv A SF


Land Acres


Days On Market


$/SQFT


Year Built House


MLS 




ACT


236 Crestview Rd


$5,395,000


4


4.5


4,077


0.45


41


$1,323


2003


394626




ACT


314 Cook Pine Dr


$7,900,000


5


5.5


7,229


0.50


209


$1,093


2000


392686




ACT


1216 Summer Rd


$8,450,000


6


6.5


7,784


0.62


10


$1,086


1990


394986






In vacant land, there are no lots actively listed for sale or pending.  There have been three lot sales since January 2022 that have ranged from $879,000 to $1,090,000.


Pineapple Hill &amp; Pineapple Hill Estates Historical Home Sales (per MLS*)


Pineapple HillLow Sale: $1,480,020 for 2,348 sq. ft. home constructed in 1999 (2019)High Sale: $9,150,000 for a 7,784 sq. ft. home completed in 1990 (2007)


Pineapple Hill EstatesLow Sale: $2,500,000 for a 3,715 sq. ft. home constructed in 2004 (2015)High Sale: $6,100,000 for a 4,486 sq. ft. home constructed in 2007 (2008)






Pineapple Hill &amp; Pineapple Hill Estates


2022 YTD


2021


2020


2019


2018


2017


2016




Number of Sales


2


15


10


 15


4


6


9




Low Sales Price


$2,750,000


$2,062,500


$1,600,000


$1,489,020


$1,970,000


$1,750,000


$2,050,000




High Sales Price


$3,850,000


$4,850,000


$3,750,000


$3,200,000


$2,680,000


$3,550,000


$2,700,000




Average Sales Price


$3,300,000


$3,067,500


$2,718,700


$2,388,935


$2,387,500


$2,524,167


$2,352,222




Average Sales Price/Sq. ft.


$840


$768


$696


 $692


$588


$680


$651




Average DOM


91


160


137


 262


325


219


219




Sales Price/List Price


94


95


95


94


92


93


91






Pineapple Hill and Pineapple Hill Estates Historical Land Sales






Pineapple Hill &amp; Pineapple Hill Estates Land 


2022 YTD


2021


2020


2019


2018


2017


2016




Number of Sales


3


2


1


0


0


0


0




Low Sales Price


$879,000


$1,195,000


$950,000


NA


NA


NA


NA




High Sales Price


$1,090,000


$1,305,000


$950,000


NA


NA


NA


NA




Average Sales Price


$1,004,000


$1,250,000


$950,000


NA


NA


NA


NA




Average Sales Price/Sq. ft.


$84


$62


$87


NA


NA


NA


NA




Average DOM


305


143


314


NA


NA


NA


NA




Sales Price/List Price


100


100


90


NA


NA


NA


NA






It should be noted that there are so few lot sales because there are so few undeveloped lots left in Pineapple Hill and Pineapple Hill Estates.


Comments: comparing 2021 to 2022, you'll note the land sales were lower in 2022 but the price per square foot was significantly higher.  This is because the two lots to sell in 2021 were both in Pineapple Hill Estates, which has larger lots (these were .45 and .48 acres).  The lots to sell to date in 2022 are all in located in phase I and are significantly smaller (.23-.36 acres).


Since January 2020, there have been 33 sales of land and homes in Pineapple Hill.  I've been privileged to represent more buyers and sellers than any other real estate agent in these transactions: I assisted the Sellers in 9 transactions and the Buyers in 6 transactions. Please feel free to reach out with any questions about Pineapple Hill or the Kapalua Resort market.  contact Courtney M. Brown, R(S)


*MLS keeps sales since January 2001.  All information is taken from the MLS and is believed accurate but is subject to change.  It does not include private sales and should be independently verified.  Interested parties should do their own due diligence.


Pineapple Hill Homes for Sale



 ]]> </description>
    <pubDate>Mon, 14 Mar 2022 13:33:00 -1000</pubDate>
</item>
    </channel>
</rss>