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Kapalua Golf Villas Update
January 2020
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Aloha Kapalua Golf Villas Owners,
 It's official - The HULA BOWL will be back on CBS for the first time in 12 years. The all-star players will feature some of the top college senior football players in the country, along with players from Australia and Japan. It airs Jan 26th. * The new year is bringing changes in the laws too. Electric vehicle owners will now be charged a $50 higher registration fee. Officials hope the new fees will make up for lost gas tax revenue essential to road and bridge programs. * Hawaii county mayors presented their ideas to the money committees of the state house and senate. One thing they're looking at is "congestion pricing". Basically making motorists pay higher fees or taxes if they drive on major highways during peak hours. The program is already used in London and starts next year in New York. The mayors would also like to see legislation that would allow them to regulate and tax ride-sharing companies like Uber and Lyft. * The Maui County Council also presented 15 bills. Among them; empowering the county to combat online marketing of illegal transient (vacation) accommodations, and lowering the threshold of blood alcohol limits from 0.08 to 0.05 for operating a vehicle under the influence.
The state of Hawaii saw its populations decline for a third consecutive year in 2019. New Census estimates show the state's population dropped by more than 4,700 people moving to the mainland. At the same time, Hawaii gained 5,000 more people from international locales than it lost. A little different story for Maui County. The same report showed a less than 1% increase in population over the previous year. BUT - that population is graying! The percentage of residents 65 and older grew 17% in 2018 ... compared to only 14% in 2014.
 When folks think of Hawaii, they think of swaying palm trees, beaches, and drinks with umbrellas in them. Cyber Security? Nah, that's all about Silicon Valley or Washington. Not so fast there ... Apparently Hawaii is quite the big deal in Cyber Security and only getting bigger. That innocuous building pictured on the right, in the middle of pineapple fields, houses some of the nation's top cyber experts. Hawaii's location has 4 of the 5 big-ticket priorities right here in the Indo-Pacific: China, Russia, North Korea, as well as extremist groups. It's here that the NSA sifts through mountains of data for info signaling threats to U.S. national security. * Want to join the new SPACE FORCE? Hawaii will be front and center there too. About a 3rd of their people will be trained experienced space officers. Another 3rd will be Hawaii Air Guard Personnel that cross-train into the space career field. But that last 3rd will be regular folk they'll recruit off the street, high school and college graduates. "Ground control to Major Tom"...
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TAKE JUST A MOMENT
Well, that was a lot of information to digest, and we're going to take an even deeper dive in the next section when we do a wrap up of the current market for all of 2019 to today. So assuming you're not at the beach right now ... click on one of the live webcams below, and drink in a little Maui.
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As promised - that deep dive into the real estate market on Maui. With low mortgage rates, low unemployment, and continued wage grow, home buyer activity is expected to remain healthy this year. Nationally, home buyer demand hit its highest level in 11 years, as January continues to shape up to be a hot month for the housing market.
On Maui, looking at just last month's numbers, the median price for a single-family home rose 4.6% compared to December 2018 - to $740,000 from $707,500 the year before. The number of homes sold in December nudged up to 97, from 96 in December 2018. * Maui condos sales also nudged up by one in December to 123 sold, compared to 122 sold in December 2018. The median price of a condo last month was $514,120, an increase of 4.7% from $491,000 in the same month last year.
Now if we look at the whole year on Maui, there was a 1.9% decline in the number of homes sold - 1,117 single-family homes in 2019 compared to 1,139 in 2018. The median price of those homes was $741,355 - an increase of 4.4% from $710,000. * The median price of a condo for all of 2019 was $515,000, a 3.1% increase from $500,000 in 2018. Sales of condos declined by 3.1% to 1,606 units sold in 2019 from 1,657 sold in 2018. In light of those numbers, it's important to note that inventory has decreased on Maui: down 13.6% for single family homes, and down 14.8% for condominiums.
You might find this table from the Realtors Association of Maui informative as well:
Now l
et's take a look at the Kapalua Golf Villas
:
|
Status
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Unit
|
Bd
|
Ba
|
List $
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Sold $
|
Close
|
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Active
|
14V2
|
1
|
1.5
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599,000
|
|
|
|
Active
|
15V1
|
1
|
1.5
|
635,000
|
|
|
|
Active
|
14V1
|
1
|
1.5
|
679,000
|
|
|
|
Active
|
12V1
|
1
|
1.5
|
749,900
|
|
|
|
Active
|
12T1
|
1
|
2
|
749,900
|
|
|
|
Active
|
17T3-4
|
1
|
2
|
789,000
|
|
|
|
Active
|
12P5-6
|
2
|
2
|
999,000
|
|
|
|
Active
|
21P3-4
|
2
|
2
|
1,059,000
|
|
|
|
|
|
|
|
|
|
|
Escrow
|
27T1-2
|
1
|
2
|
789,000
|
|
|
|
Escrow
|
19V3-4
|
2
|
2
|
1,295,000
|
|
|
|
|
|
|
|
|
|
|
Sold
|
16T2
|
1
|
1.5
|
562,400
|
607,000
|
09/05/19
|
|
Sold
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15T2
|
1
|
1.5
|
625,000
|
595,000
|
03/25/19
|
|
Sold
|
20V3
|
1
|
1.5
|
750,000
|
720,000
|
01/08/20
|
|
Sold
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26T5-6
|
1
|
2
|
625,000
|
625,000
|
01/11/19
|
|
Sold
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23T1-2
|
1
|
2
|
735,000
|
700,000
|
02/20/19
|
|
Sold
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14T1-2
|
1
|
2
|
735,000
|
735,000
|
07/02/19
|
|
Sold
|
26T1-2
|
1
|
2
|
759,000
|
740,000
|
06/14/19
|
|
Sold
|
16T1
|
1
|
1.5
|
765,000
|
745,000
|
06/28/19
|
|
Sold
|
22V1
|
1
|
2
|
795,000
|
795,000
|
06/12/19
|
|
Sold
|
18V1-2
|
2
|
2
|
825,000
|
774,500
|
01/25/19
|
|
Sold
|
19P1-2
|
2
|
2
|
825,000
|
775,000
|
03/25/19
|
|
Sold
|
25P5-6
|
2
|
2
|
899,000
|
820,000
|
07/24/19
|
|
Sold
|
14V3-4
|
2
|
2
|
934,000
|
900,000
|
02/06/19
|
|
Sold
|
24P1-2
|
2
|
2
|
935,000
|
915,000
|
09/09/19
|
|
Sold
|
17P1-2
|
2
|
2
|
955,000
|
900,000
|
02/15/19
|
|
Sold
|
27P5-6
|
2
|
2
|
959,000
|
935,000
|
08/05/19
|
|
Sold
|
19T3
|
2
|
2
|
975,000
|
890,000
|
07/23/19
|
|
Sold
|
20P3-4
|
2
|
2
|
999,000
|
984,800
|
12/18/19
|
|
Sold
|
21P7-8
|
2
|
2
|
1,089,000
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1,010,000
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12/17/19
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Figures from Realtors Association of Maui
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All Nippon Airways
plans to launch a 3rd "Flying Honu" this summer. "Honu" are Hawaii's sea turtles. Currently the airline offers 2 daily flights from Tokyo (Narita) - Honolulu on the "Flying Honu". The 3rd aircraft will join the fleet beginning July 1st. The three flying Turtles are Blue-representing Hawaiian Sky, Emerald Green - Hawaiian Ocean, and the new Orange one will be Hawaiian Sunset.
Hawaiian Airlines
is selling tickets for their expanded service between Honolulu and Tokyo Haneda Airport for it's 3rd daily nonstop flight beginning March 28, 2020. The new route will add to Hawaiian's current total of 31 weekly nonstop flights between Hawaii and Japan. They also launched 4 weekly flights between Fukuoka and Honolulu in November.
Southwest Airlines
just announced new nonstop flights from San Diego to Hawaii. Flights from San Diego to Kahului Maui will begin April 14, 2020 and between San Diego and Honolulu on April 20, 2020. Southwest currently flies to Hawaii from Oakland and San Jose, and just began flying out of Sacramento last November.
TOURISM
 So, what's the future hold for tourism on Maui? Mufi Hannemann, President and CEO of the Hawaii Lodging & Tourism Association, is really emphasizing prudent and sensitive action moving forward. Visitor arrivals are expected to surpass an all-time high of 10 million in 2020. Tourism is Hawaii's most important industry, job source and revenue generator. With so many people coming, there needs to be a balancing act of preserving our quality of life, history, culture, and natural resources. An example of one of the ways to manage tourism wisely is the new "Aloha Pledge" educational initiative. The Grand Wailea has been the 1st to distribute it to all guests upon arrival. If you'd like to read the "Aloha Pledge" click here
In my "Local Maui News" section I told you about the new bills being sought to control illegal vacation rentals. Well, Oahu has now launched a confidential online complaint form for the public to request an investigation into a suspected illegal rental or advertisement or such properties. The Department of Planning and Permitting has already issued 242 notices of violation.
Don't get caught up in that mess. Listen, if you have friends or family coming for a visit and you don't have room for them, don't let them get stuck with the high cost of staying in a hotel, or heaven forbid an illegal rental. Have them check out
M
aui Beachfront Rentals
.
They can get a fully furnished condo or home complete with kitchen, laundry, and free parking ... all things you either can't get - or pay thru the nose for at hotels. And of course they'll enjoy all the amenities of a Resort!
Now, if you own a property that you'd like to make income on when you're not using it, do what I do and check out
MBR
. They take all the hassle out of it for you like taking care of the taxes so you don't have to worry.
And they market the heck out of your place with extra advertising on sites like VRBO, HomeAway, Flip Key and others ... all at no additional cost. And All Legal!
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Dean Rathbun
of
Avis Mortgage
says let's hear it for 2019! Major stock indices in the United States and overseas delivered double-digit gains for the year. Possibly the most important factor contributing to asset performance was the 80-degree turn by the United States Federal Reserve. The U.S. central bank went from raising interest rates for a 4th time at the close of 2018, to doing the opposite. The Fed cut rates 3 times last year. So what about 2020? Conventional wisdom says the Fed won't cut rates during an election year. But these are not conventional times. Predictions are all over the map. UBS, one of the world's biggest investment banks, is predicting the Fed could lower interest rates three times in 2020, an outlook not shared with other forecasters that are calling for no change or just one rate cut this year. The Fed signaled at its last meeting in December, that it does not expect to change this rate in 2020.
The mortgage industry is really jumping right now. Weekly mortgage applications jumped 30% for the week ending January 10th. Refinance applications are 109% higher than a year ago!
There will be more buying power for Maui residents in 2020. The Federal Housing Finance Agency maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac this year will increase. The new ceiling loan limit for one-unit properties this year will be $765,600 - a nearly $40,000 increase from $726,525 in 2019. In most of the US, the 2020 maximum conforming loan limit for one-unit properties will be $510,400 - an increase from $484,350 in 2019.
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MAUI HAPPENINGS
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98 Degrees Concert |
2/01: Maui Run/Walk for the Whales
details
2/08: Whale Day Parade 9-10 & World Whale Day 10-3
schedule
2/8-22: Whale Concert Cruises
info
2/14: World Whale Film Festival
lineup
2/14-17: 14th Annual Whale Tales Events
happenings
Maui Arts & Cultural Center tickets
1/23: Aspen Santa Fe Ballet
1/24: Stanley Jordan plays Jimi
1/26: HAPA in concert
1/26: Maui Pops Orchestra Broadway
1/30: Joy Harjo In The Green Room U.S. Poet Laureate
1/31: Kupaoa & Mark Yamanaka Hawaiian Music
2/01: ArT=Mixx: Enchanted Spirit of the Woods
Free Event/ 21 & older only
2/02:
Watch the Big Game Free food trucks, beverages
2/06: Paniolo: Stories & Songs of the Hawaiian Cowboy
2/7-8: Eric Gilliom - One Man Show
2/12: Leela Dance Collective Indian Kathak & American dance
2/13: An Evening with 98 Degrees concert
2/15-16: Keali'i Reichel: Kuhaki 2020
2/21: Starry Night Cinema: FREE "Abominable"
2/23: Maui Pops Orchestra Winter Pops
2/27: Goitse award winning Irish group
2/28: John Craigie Americana style singer/songwriter
1/31-2/1: Paul Ogata comedy
1/11-12: Onstage Dance Company
2/28-3/15: Xanadu the Musical
3/7-15: The Ants & the Grasshoppers
4/24-5/10: Cat on a Hot Tin Roof
5/16-17: Maui Chamber Orchestra Spring Concert
7/10-8/2: Priscilla Queen of the Desert musical
Now - 1/26: The Curious Incident of the Dog in the Night Time
1/22: Chino Laforge comedy
1/30: A Classical soiree: A night of Mozart
, Mahler, Prokofiev, and DeBussy
2/01: Cabaret Open Night of Burlesque
2/14: Valentines comedy with Craig Gass
2/15: Craig Gass Comedy Roast
10th Annual Maui Open Studios
2/1-23: Free Self guided tours of artist studios, music, refreshments
schedule
2/01: Opening Celebration & Preview
2/8-9: South Maui
2/15-16: West, Central, East Maui
2/22-23: Upcountry
You can see from my update that 2019 turned out to be a good real estate market, and that 2020 predictions are that the trend will continue. Here on Maui, inventory is down ... and buyers are active due to the low interest rates.
If you'd like to see what your property is worth in this market, we
'd be more than happy to provide you with a free, no obligation, confidential assessment of your property. Likewise, if you want to take advantage of these crazy low interest rates, and you're interested in adding to your real estate portfolio, let us know.
As owner of Berkshire Hathaway Maui Properties I have over 35 years experience in the Maui market with sales approaching $2 billion! We a
re the
only
Berkshire Hathaway Real Estate Brokerages on Maui. Our offices are located in Lahaina-Kapalua and Wailea-Makena. I'm available to you 7 days a week.
John
Broker/Owner
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If you are currently listed with another Broker, this is not intended to disturb that relationship
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Low Fixed & Adjustable Rates
Condo-tel Lender for over 23 Years
DEAN RATHBUN
Toll Free (888) 455-AVIS (2847
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Increased Income Reduced Expenses
Never Pay For Guest Damages
Guest Travel Insurance Eliminates Guest Refunds
MAUI BEACHFRONT RENTALS
Toll Free (888) 661-7200
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Berkshire Hathaway
HomeServices
Maui Properties 
Copyright 2017. All Rights Reserved.
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