Below is a quick overview of Maui’s Real Estate Market for 2016 vs 2015 through October. Median sales prices are up for both SF Residential and Condominium Sales with SF Residential making the biggest jump from $585K to $635K in Maui County. A 9% increase is significant and indicates a strong market. Median sales price for Condos also Increased on Maui by 4%.
If you have been on Kaanapali Beach recently and been through Whalers Village you have noticed the construction in progress. So what is happening? I am glad you asked. Whalers Village is going through a multi-million dollar beautification process. According to Whalers Village’s website, the renovation aims to revitalize the center, creating open, airy expenses while maintaining the Whalers signature Hawaiian sense of place. Upgrades will include:
- New stores and restaurants
- Updated restrooms
- A shaded gathering space including soft seating, play area with splash pad water feature plus a climbing structure.
- Incorporate a sense of discovery, cultural education showcasing the West Maui area; past, present and future.
- Ocean and mountains inspired design.
It is exciting times on Kaanapali Beach. Whalers Resort also known as The Whaler on Kaanapali Beach is also wrapping up their renovations which included upgrades to the courtyard, new lanai tile and railings, renovated parking areas, lobby and photovoltaic installed on the roof.
While recent sales and rentals may have been affected by all the work in progress. I think it is safe to say the temporary inconvenience will be worth the wait. Savvy real estate buyer could look at this as an opportunity to take advantage of.
Please browse the current listings in Whaler Resort and let me know if I can answer any questions.
If you haven’t already heard, Kahoma Village has officially started construction.
With a such a great location in Lahaina, there is a lot of excitement for the project.
As of today workers are are busy building the construction fence around the site.
See the the Kahoma Village Page for more details.
Contact me if you would like to be added to my email list for updates as they are released.
I have two new Maui Property listings to share. Napili Shores Units D-227 and D-229. Upgraded and offered fully furnished. Two studios separated by only one unit offer a unique opportunity for those looking to travel with friends or extended family.
Napili Shores offers the type of quaint resort experience many buyers are seeking under $500K. A laid back atmosphere within steps to a beautiful beach, great snorkeling and other water sports. The resort offers water activity rentals for your convenience. Just grab your surf board, stand up paddle board, or snorkel equipment and walk to the beach.
Relax and Play
Within the complex there are 156 units throughout 10 buildings that are all two stories. Two separate pool areas areas offer relaxation. The upper pool has a hot tub while the lower pool offers an outstanding ocean view. Several BBQ areas and shuffle board can also be found on the grounds.
For owners that choose to rent their unit while they are not using it, Outrigger offers in an house vacation rental program. Other owners have chosen a more hands on approach and they rent their property through websites like VRBO. Click here for examples of Napili Shores units for rent.
Check out other Napili Real Estate.
As of July 1st 2015 the population of Maui was 164,637 according to the US Census Bureau. Part of Maui’s appeal is Maui’s small population. By contrast, the entire population of Hawaii was over 1.4 Million people.
Maui Is Mostly Untouched
Maui’s small population is just one of its many charms. Some estimate that 98% of the island is still undeveloped leaving the natural beauty of its coastlines, jungles, and valleys in pristine conditions. Much care is taken by Maui County Planning Department to preserve the island and protect it from outgrowing itself. A deep contrast to the big cities on the island of Oahu, it seems Maui will be keeping its small town charm for generations to come.
Uncommon Small Town Neighbors
While the total population is small, the number of people who desire to live on the island is hard to exaggerate. Maui Real Estate is one of the most searched phrases on Google for Real Estate. Often considered a playground for the rich and famous, numerous celebrities have vacation homes on the island. Everyone seems to live in harmony without too much attention paid to our neighbors’ celebrity status.
Island Pace of Life
It’s no secret that Maui’s pace of life is slower than most. Priority is placed on quality of life, spending time with friends and family, and enjoying the beautiful surroundings. Maui’s small town feel makes it the ideal place to get out of the rat race and enjoy the important things in life.
Are you ready to Call Maui Home?
No surprise here, Maui is ranked the Best Island in the World according to TripAdvisor’s 2016 Travelers’ Choice awards for islands.
With its stunning natural beauty, near perfect weather, friendly culture, and world class resorts it is not hard to understand why Maui won the top spot. As a Maui Real Estate Agent and Advisor I am first hand witness to Maui’s appeal. Maui’s popularity is growing and it is drawing visitors and new residents from around the world.
World’s top 10 islands for 2016
1. Maui, Hawaii
2. Santorini, Greece
3. Jamaica, Caribbean
4. Providenciales, Turks and Caicos
5. Bali, Indonesia
6. Mallorca, Spain
7. Mauritius, Africa
8. Phuket, Thailand
9. Bora Bora, French Polynesia
10. Fernando de Noronha, Brazil
Related: Best Hawaiian Island to Live – Maui
According to a National Realtors Association 2015 Home Buyer Profile.
– Only 14% Of Home Buyers Contacted a Real Estate Agent as the first step in the Home Buying Process.
Online presentation and exposure has become critical to effectively selling Real Estate. It is even more important for destination locations like Maui where so many people search online prior to visiting the island.
What is Going to Set Your Listing Apart from other Properties Online?
How Real Estate Sellers Can Gain More Online Exposure.
Below are just a few ways to gain additional online exposure for your listing.
1. Online Presentation is key to make sure you are set up for success. Ask your Realtor if they plan to use professional photography and videos.
2. How is your property going to be advertised online beyond just entering it into the MLS? Most Realtor’s can easily upload your property on the MLS and with a few clicks have it loaded onto other websites like Zillow / Trulia / or Realtor.com. Ask your Realtor what else they will do to gain online exposure. Will it be advertised on Local Websites? Is your Realtor willing to pay for additional advertising online?
3. Take a look at your Agents website. It is common for individual agents to have their own personal websites. What does it look like? Is it well maintained and current? Ask how much traffic their websites receive each month and if they will feature your property on their website.
4. Social Media such as Facebook can be an effective marketing tool. While having your property posted on your Agents personal or business Facebook page can be helpful, they can do more. Have you noticed sponsored adds on your Facebook News Feed? These are paid advertisments. Ask your Realtor if they will be using paid Facebook Ads.
Are you considering Selling Real Estate On Maui?
Give me a call (808) 446-5841, send me a text, or visit my Home Valuation Page for a free and friendly consultation.
As a Realtor, whenever you have a client come back and buy a second investment property next to the first, you pay attention. I have recently had the pleasure of helping some of my favorite clients purchase their second unit in the Kanai A Nalu condominium development on Maui. They came back for more after witnessing for themselves the return on investment and the benefits of owning a piece of property on Maui.
Kanai A Nalu Overview
Kanai A Nalu is an oceanfront condominium complex in the Maalaea Neighborhood. 80 units are spread through 5 buildings that are all 4 stories tall. All the units have 2 bedroom and 2 bath within roughly 950 Square Feet of Living Space. The complex is laid out in a horseshoe pattern and gives almost all of the units some sort of ocean view. The units at the tip of the horseshoe are direct oceanfront and are nothing short of spectacular. Furthermore, the complex is located at the beginning of one of the longest stretches of sandy beach on the entire Island of Maui. Neighboring properties just to the north are built on SeaWalls and just can not compare to the white sandy beach that Kanai A Nalu boasts.
Leasehold Properties in Maalaea
It is important to be aware that complex is Leasehold. With a lease that does not expire until 2066 Kanai A Nalu can be considered one of the more stable leases on the island. Lease hold properties can benefit the informed investor. Reduced purchase price is the most obvious advantage with comparable fee simple properties typically selling for double the price. Reduced purchase price will produce a higher ROI on these leasehold type of properties.
Instant rental income is a great thing. Most of the units in the complex are in a of rental pool already and booked out months in advance. Buyers can expect rental income from the day they close on their property. In some cases you will receive a credit at closing for all the deposits already collected by the current property manager. For more detailed information on rental income feel free to contact me directly, see my contact info below.
What is currently available in Kanai A Nalu
Over the past 5 years Kanai A Nalu has seen an average of 4 units being sold each year. There is typically at least one or two units offered for sale at any given point. The biggest challenge to selling these units is the fact that they are so heavily booked and viewing them needs to be arranged between guest check in and guest check out. Click Here for All the Units Currently Available in Kanai A Nalu. The photos shown in the listings details often do not do the property justice making the complex a bit of a hidden secret.
Contact Your Realtor for More Information
If you are interested in buying a Beachfront Condo in Maalaea and you are not already working with another agent please give me a call at (808) 446-5841 or fill out the Contact Jesse Form.
You will find more information on the Maalaea Neighborhood Here
Maui’s Average Sales Price for Homes and Condos
Where does Maui’s Real Estate Market stand as a whole? The best way to answer that is to take a look at the statistics. The graph below shows the average sales price per year over the past 15 years. It is important to remember that Maui is a relatively small island and the exceptionally large transactions ($10 Million and Over) can significantly affect our averages.
How Many Homes and Condos Are Sold Each Year
Lets take a look at the total sales volume in $$$ over the past 15 Years. Not surprisingly, the Average Sales Price and the Total Sales volume will show similar trends. Historically, Average Sales Prices have increased as the Total Sales Volume Increased. Take a look for yourself below.
More Maui Real Estate Statistics Available Upon Request
Have any questions? Do you like numbers and graphs as much as I do? Feel free to contact me directly for more Real Estate Statistics and Data. Either give me a call at (808) 446-5841 or fill out the Contact Jesse Form.
Search All the Newest Maui Real Estate Here