November 2018 Kaanapali Golf Estates Update

Kaanapali Golf Estates Thanksgiving 2018

Hau'oli La Ho'omaika'i

Long before the Puritans went sailing to Plymouth Rock, "Makahiki" was a Hawaiian harvest celebration that ran from November thru February. Fast forward to 1849. In an effort to strengthen relations between Hawaii and America, King Kamehameha III declared December 31st a national holiday of Thanksgiving. Why not November? Well, Hawaii already had a holiday called La Kuokoa at the end of the month. So even with a different date, Thanksgiving became official in Hawaii 14 years before President Abraham Lincoln declared it the national holiday it is now.

LOCAL MAUI NEWS

Aloha Fellow Kaanapali Golf Estates Owners,

It's official - The Hawaii Tourism Authority signed a contract to bring the Los Angeles Rams to Aloha Stadium next year. The Rams will be the 1st NFL team to play a preseason game in Hawaii in more than 40 years. * On the day of his final concert in the islands, singer Bruno Mars (who's from Hawaii) announced that he will provide 24,000 Thanksgiving meals to Hawaii families in need. If you're interested in donating meals to Hawaii's needy click here. * Black Friday is the day after Thanksgiving, and it was a boon for Hawaii retailers last year who saw a 179% increase in sales compared to their average day. In fact Hawaii beat the national average when it came to revenue generated on Black Friday, and they're gearing up for it again this year. Nationally, holiday spending is expected to top $1 trillion for the first time ever this year.

Honolulu has become the 18th U.S. city to be selected for the American cities Climate Challenge, a $70 million program intended to tackle climate change and promote sustainability in 20 cities across the nation. * And local company Hawaii Biotech has received a 5 year $38.5 million contract with the federal government to develop an anti-toxin drug for anthrax in humans.

CURRENT MARKET ANALYSIS

The median price of a single-family home on Maui last month was $774,223 a 16% jump compared to $668,675 in October last year. That was based on sales of 88 homes a 21.4% decline compared to 112 homes sold in October 2017.

The number of condos sold in October were relatively flat with 132 units sold, a 2.2% decrease from 135 units sold in October 2017. The median price of a Maui condominium in October was $499,000, which was a 3.6% decline from $517,500 during the same month last year.

Total year-to-date resort home sales in Hawaii are on track to increase nearly 17% this year compared to 2017 levels. Maui resort home sales increased all around, with single-family home sales increasing by 30% compared to last year, as condo sales jumped 47%. Prices did not follow, however, with average single-family resort home price on Maui declining by 10% and the average condo price declining by 5%. Maui has the 2nd and 3rd highest priced sales so far this year, a $22 million sale in the 1st quarter and a $20 million sale in the third quarter.

Now l et's take a look at Kaanapali Golf Estates :

VACANT LAND

Status	Address	List $	Sq Ft	Sold $	Close
GENERAL
Active	261 Akia Pl	475,000	10,324

KAHUA KAI	no listings

SUMMIT
Active	411 Wekiu Pl	450,000	11,112

Escrow Canceling	195 Welau Way	375,000	10,790

Sold	189 Welau Way	399,000	10,010	395,000	06/28/18

PINNACLE
Active	45 E Mahi Pua Pl	655,999	19,651

Escrow	77 W Mahi Pua Pl	790,000	20,308

LANIKEHA
Active	627 Anapuni Lp	410,000	12,117
Active	70 Lewa Lani Pl	415,000	11,800
Active	607 Anapuni Lp	420,000	12,630
Active	27 Kaulele Pl	475,000	12,071
Active	45 Lolii Pl	495,000	20,417
Active	50 Lewa Lani Pl	499,000	10,907
Active	704 Anapuni Lp	499,000	11,927
Active	1015 Anapuni Pl	585,000	20,826
Active	85 Lolii Pl	585,000	29,316
Active	65 Lolii Pl	599,000	20,617
Active	110 Lewa Lani Pl	600,000	13,072
Active	167 Anapuni Lp	619,000	21,780
Active	5 Lolii Pl	640,000	20,473
Active	955 Anapuni Pl	649,000	20,611
Active	377 Anapuni Lp	695,000	21,192
Active	404 Anapuni Lp	715,000	40,862
Active	324 Anapuni Lp	739,000	40,209
Active	524 Anapuni Lp	765,000	47,687
Active	564 Anapuni Lp	950,000	43,643
Active	304 Anapuni Lp	995,000	40,554

Escrow	105 Lolii Pl	350,000	26,045
Escrow	227 Anapuni Lp	624,900	23,265

Sold	604 Anapuni Lp	595,000	28,156	500,000	06/05/18

RESIDENTIAL

Status	Address	List $	Bd	Ba	Sold $	Close
Active	365 Kului Way	2,050,000	4	3.5
Active	180 Kalaihi Pl	2,825,000	4	4
Active	320 S Ulukoa Pl	3,295,000	4	4.5
Active	170 Kalaihi Pl	3,690,000	4	2.5
Active	215 Kalaihi Pl	3,698,000	3	3.5

Sold	357 Kului Way	1,699,000	3	3	1,550,000	10/31/18
Sold	261 S. Ulukoa Pl	1,900,000	3	3	1,750,000	07/31/18
Sold	367 Aalii Way	1,988,000	4	3.5	1,774,500	05/18/18
Sold	345 Kului Way	1,945,000	3	3.5	1,900,000	03/05/18
Sold	300 Aalii Way	1,950,000	4	4	1,775,000	03/05/18
Sold	303 S. Ulukoa Pl	1,495,000	3	2.5	1,400,000	02/15/18

KAHUA KAI
Active	18 Kahua Kai Way	3,399,000	3	3.5
Active	50 Kahua Kai Pl	3,595,000	3	4

SUMMIT
Active	211 Welau Way	2,450,000	3	3.5

Sold	284 Wekiu Pl	2,275,000	3	3.5	2,100,000	11/07/18
Sold	384 Weiku Pl	2,178,000	3	3.5	2,090,000	11/01/18
Sold	183 Welau Way	2,100,000	3	3.5	2,050,000	07/27/18
Sold	202 Wahioli Way	2,375,000	3	3.5	2,375,000	05/02/18
Sold	202 Welau Way	2,880,000	4	3.5	2,550,000	02/28/18

PINNACLE
Active	23 W. Mahi Pua Pl	3,595,000	5	5.5
Active	56 W Mahi Pua Pl	5,800,000	3	4

Escrow	21 E Mahi Pua Pl	2,695,000	2	4.5

Sold	90 W. Mahi Pua Pl	4,995,000	5	5	4,250,000	08/20/18
Sold	94 W. Mahi Pua Way	3,675,000	4	4.5	3,325,000	07/20/18
Sold	93 W. Mahi Pua Pl	3,695,000	3	4	3,200,000	03/14/18

LANIKEHA
Active	697 Anapuni Lp	2,275,000	3	3
Active	30 Lewa Lani Pl	2,300,000	3	3.5
Active	29 Ke Ahi Lel Pl	3,300,000	4	4

Escrow	667 Anapuni Lp	2,200,000	3	3.5

Sold	26 Kaulele St	2,198,000	3	3	1,950,000	09/17/18
Sold	297 Anapuni Lp	3,995,000	4	4.5	3,650,000	01/04/18

THE VINTAGE

Status	Unit	Bd	Ba	List $	Sold $	Close
Active	141	3	2.5	995,000
Active	130	3	2.5	1,111,970
Active	161	2	2.5	1,125,000
Active	57	3	2.5	1,169,000
Active	104	3	2.5	1,300,000
Active	139	3	2.5	1,325,000
Active	115	4	3	1,350,000

Sold	42	3	2.5	845,000	801,000	01/08/18
Sold	162	3	2.5	849,000	829,000	06/18/18
Sold	66	3	2.5	1,090,000	1,090,000	01/05/18
Sold	10	3	2.5	1,200,000	1,175,000	02/20/18
Sold	134	3	3	1,550,000	1,400,000	05/01/18

Figures from Realtors Association of Maui

FEATURED LISTING

564 Anapuni Lp

Lanikeha Vacant Lot 51

$950,000

Lot 51 is a large 1-acre home site at the top of Kaanapali's newest luxury neighborhood "Lanikeha". Sitting on the Southern rim of Lanikeha, Lot 51 is protected from trade winds and features views from Mala Wharf to Kaanapali, islands of Lanai to Molokai, and the West Maui Mountains to the Pacific Ocean.

(click on pictures for more information)

TOURISM

The holidays are upon us and island accommodations will get full shortly. According to the Hawaii Tourism Authority, the use of vacation rental homes and condos are rising while hotel use is declining. From the West Coast, Hawaii's largest tourism market, visitor stays in vacation rentals grew 25.1% last month, while hotel use decreased. Hotel use from East Coast visitors rose last month by 5.7%, but that was outpaced by a 37.7% jump in rental home use. The same dynamic applies to visitors from Japan and Canada.

A measure passed on Maui ballots this month increases the fine for a person operating short-term rentals without a permit from $1,000 to $20,000. Then adds a daily $10,000 fine for each day the illegal rental persists.

So where are your friends and family staying when they come to visit you? Likewise, if you don't plan on being here, instead of letting your unit sit empty, why not score some income? I keep my short term vacation rentals with M aui Beachfront Rentals . I keep my guests happy by having them avoid all those inflated fees by travel agencies, and having a local staff that's available to them 24/7. They get so much more than they would in a hotel room ... fully equipped kitchens, laundry, free parking, and amenities. AND MBR takes all the hassle out of it for me. They cover all the bases plus extra advertising on sites like VRBO, HomeAway, Flip Key and others ... all at no additional cost to me. AND they handle all the collection of taxes from the rentals.

MORTGAGES

Dean Rathbun of Avis Mortgage shares that mortgage rates were on the rise this week, and as a result home buyers faced higher borrowing costs. The 30-year fixed rate rose to its highest average in 7 years, averaging 4.94%. The economy continued to show resilience as strong business activity and the growth in employment drove mortgage rates higher.

Dean says mortgage rates are expected to keep rising too. Some researchers predict a nearly 10% increase in buyers' mortgage payment by next July, twice the rate expected for home prices. Rates are expected to increase by about 0.43% between July 2018 and July 2019. Housing forecasters predict median home sale prices to continue to rise by 1.8% in real terms over that same period.

The Fed, which has already increased rates by one-quarter point 3 times this year, indicated that their next rate hike will likely be next month.

MAUI HAPPENINGS


	Banyan Tree Lighting

11/19-21: Maui Jim's Maui Invitational Chaminade

11/22: Turkey Trot schedule

11/25: "Paint The Town Together" tickets

12/1: Lahaina Banyan Tree Lighting

12/1: Make Living Wreaths details

12/1: Lei of Aloha event

12/8: Project Gift Maui specifics

12/8: Annual Blessing of the Animals Keawala'i Congregational Church Kihei 9am

12/8: 66th Annual Chrysanthemum Festival 4:30 Wailuku Community Center

12/14-15: Maui Jim's Women's NCAA Classic schedule

12/15: Pukalani Christmas Fair & Electric Golf Cart Parade

12/16: Street Bikers United Toys 4 Tots Parade Kihei to Lahaina

Holiday Craft Fairs

"Maui Gift & Craft Fair" Sundays 9am-2pm Lahaina Gateway Center

"Maui's Finest Craft Fair" 9am-3pm

Tuesdays/Fridays Westin Kaanapali Ocean Resort Villas

Wednesdays Marriott's Maui ocean Club

Saturdays Westin Nanea Ocean Villas

Thursdays Hyatt Residence Club Maui

Maui OnStage Iao Theater tickets

11/23 - 12/9: Elf The Musical

Maui Arts & Cultural Center
tickets

11/18: Ke'ala'iliahi: A Fashion Love Affair 2018

11/25: Maui Choral Arts Holiday Concert

11/28: Lee Brice country music

11/30 - 12/2: Hawaii International Film Festival

12/1: Miranda Lambert & Friends

12/2: Holiday Pops featuring Henry Kapono

12/6: Lewis Hyde & Matthew Zapruder in the Green Room

12/8-9: Nutcracker Sweets

12/13: Alsarah & The Nubatones East African Retro-Pop

12/14: Island Breeze Trio Hawaiian music

12/15: Amy & Willie K Holiday Concert

12/16: Pepper & Stick Figure reggae

12/21: Pat Simmons Sr. & Jr. (of the Doobie Brothers)

12/27: Steven Tyler

12/29: Steve Earle rock/country/folk

12/29: Hannibal Buress comedy

12/30: Bill Maher

Mulligans On The Blue Tuesdays

6:30 pm Free Magic Show

9:00 pm Open Mic Comedy Night (except 1st Tues of the month)

As you read above, mortgage interest rates have risen to a 7 year high, and the Fed is expected to raise their rate again next month. I don't have to tell you that mortgage rates affect the housing market. What I can tell you is the Island will be filled to capacity this holiday season with folks who will wish that they could own their own piece of paradise. And all those folks are also aware of the rising mortgage rates. Listen, if you're considering selling your property or adding another to your portfolio, you should call me for a confidential, no obligation discussion. As owner of Berkshire Hathaway Maui Properties I have over 30 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.

Have a wonderful Thanksgiving.

Hau'oli La Ho'omaika'i,