October 2018 Kaanapali Golf Estates Update

Kaanapali Golf Estates Update

October 2018

LOCAL MAUI NEWS

Aloha Fellow Kaanapali Golf Estates Owners,

They're back! We've had the official first whale sighting of the season on Oct. 8th. At least 12,000 humpback whales are believed to migrate to Hawaii's each winter to mate, give birth and care for their young calves. * The Blackstone Group, which paid more than $1 billion at the beginning of this year to buy the Grand Wailea resort, is continuing its Maui buying spree with the acquisition of the Ritz-Carlton, Kapalua.

Things are looking up all over Hawaii. Take Pierre Omidyar, founder of eBay and Hawaii's wealthiest full-time resident. He just moved up 10 notches to #38 on this year's list of the 400 richest Americans compiled by Forbes Magazine. * Conde Nast listed Hotel Wailea in it's #1 spot on their "Traveler's Best Resorts" in Hawaii. Meanwhile Conde Nast "Readers' Choice" award voted Kaanapali Beach Hotel as their #1. * And last but not least, The Maui Ocean Center has recently been named among the "Top 10 Aquariums in the World" by TripAdvisor.

Seven large Solar and power storage projects statewide- including two on Maui are in negotiations and represent the largest infusion of renewable energy in state history. The announcement comes on the heels of Maui's second utility-scale solar project, Ku'ia Solar coming online Oct. 4th. The addition of Ku'ia Solar increased Maui Electric's renewable energy portfolio to 34%, which is ahead of the state's target of 30% renewable energy by 2020.

CURRENT MARKET ANALYSIS

The median price of a single-family home on Maui last month was $754,248 a 16% jump compared to $650,000 in September last year. That was based on sales of 80 homes compared to 81 homes sold in September 2017. There's been more variability in single-family home median prices, ranging from a decrease of 10.1% in March, to the 16% increase in September.

The number of condos sold in September also declined slightly to 121 units sold, a 4% decline from 126 sold during the same month last year. The median price of those condos, however, rose 18.2% to $501,000 in September, from $423,750 during the same month last year. September marked the 4th straight month of double-digit increases for condos: up 19.8% in June, 15.6% in July, and 26.2% in August. * Maui is having a banner year for condominium sales so far in 2018, with year-to-date sales rising by more than 20% and the median price increasing by more than 10% through the first three quarters, compared to the same time period last year. On Maui there were 1277 sales of condo units during the first three quarters of 2018, an increase of 21.6% from 1,050 units sold through the first nine months of 2017. The median price of those units was $499,000, 11.4% higher than the median price last year of $448,000.

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

VACANT LAND

Status	Address	List $	Sq Ft	Sold $	Close
GENERAL	no listings

KAHUA KAI	no listings

SUMMIT
Active	411 Wekiu Pl	450,000	11,112

Escrow	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	105 Lolii Pl	425,000	26,045
Active	27 Kaulele Pl	475,000	12,071
Active	45 Lolii Pl	495,000	20,417
Active	50 Lewa Lani Pl	520,000	10,907
Active	704 Anapuni Lp	535,000	11,927
Active	1015 Anapuni Pl	585,000	20,826
Active	85 Lolii Pl	585,000	29,316
Active	110 Lewa Lani Pl	600,000	13,072
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
Active	184 Anapuni Lp	1,074,900	43,358

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

Escrow	357 Kului Way	1,699,000

Sold	303 S. Ulukoa Pl	1,495,000	3	2.5	1,400,000	02/15/18
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	367 Aalii Way	1,988,000	4	3.5	1,774,500	05/18/18
Sold	261 S. Ulukoa Pl	1,900,000	3	3	1,750,000	07/31/18

KAHUA KAI
Active	50 Kahua Kai Pl	3,995,000	3	4

SUMMIT
Escrow	384 Weiku Pl	2,178,000	3	3.5
Escrow	284 Wekiu Pl	2,275,000	3	3.5

Sold	202 Welau Way	2,880,000	4	3.5	2,550,000	02/28/18
Sold	202 Wahioli Way	2,375,000	3	3.5	2,375,000	05/02/18
Sold	183 Welau Way	2,100,000	3	3.5	2,050,000	07/27/18

PINNACLE
Active	23 W. Mahi Pua Pl	3,795,000	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
Active	204 Anapuni Loop	4,950,000	4	3.5

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	161	2	2.5	1,125,000
Active	57	3	2.5	1,169,000
Active	130	3	2.5	1,200,000
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 coming, and it's not too soon to think of where your friends and family should stay if they're coming out to visit. Likewise, if you don't plan on being here, but don't want your unit sitting empty, check out where I keep my short term vacation rentals -M aui Beachfront Rentals . You know the Island is going to get inundated with visitors for our huge Halloween Festivities, not to mention all the other holidays coming up right in a row! It's a win - win all around. I can 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 more bang for their buck ... fully equipped kitchens, laundry, free parking, and amenities. I get a lot of repeat guests. 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 the 30-year fixed-rate mortgage hasn't averaged this high since 2011, as it inches closer to the 5% threshold. The Fed raised its benchmark interest rate last month for the 3rd time this year, into a range between 2 and 2.25%. President Trump has vocalized his displeasure with the Fed's action, none-the-less another quarter-point increase is expected in December.

Jerome Powell, the Federal Reserve chairman, stated that the current combination of low inflation and low unemployment could continue for some time. The U.S. economy is experiencing what Powell recently called a "particularly bright moment." Inflation is hovering around the 2% annual pace the Fed regards as optimal while the unemployment rate was just 3.9% in August. Fed officials have predicted that both inflation and unemployment will remain around the same low level for the next several years.

For one night each year, Front Street transforms into a giant Halloween Party. Front Street closes down to all vehicles so the pedestrians can get their party on. Beads are tossed from the lanais above the shops on Front Street, dubbing the annual Lahaina Halloween Celebration as

The Mardi Gras of the Pacific

Front Street closed to vehicle traffic 3:30 - Midnight

Noon - 10pm: Commemorative T-shirts Sale Cam pbell Park

4 - 5:45: Family Fun and Dance with DJ Zinn Campbell Park

4:30pm: Keiki Costume Parade Front Street & Banyan Tree Park

5pm - 8:45pm: Costume Contest Signup Pioneer Inn Retail Store

6pm - 8:30pm Music with Luna Overdrive Campbell Park

6:30pm - 9:30pm: Music with DJ Serna Banyan Tree Park

7pm - 9pm: Costume Contest Banyan Tree Park

9:30pm: Costume Winners Announced Banyan Tree Park

TRANSPORTATION

Coming to Lahaina from Kaanapali or Napili: Extended Maui Bus $2 ea way

Coming to Lahaina from Wailea or Kihei: Maui Express Tours

Coming to Lahaina from Wailuku or Kihei: Halloween Express Bus drop off & pick up at the intersection of Front Street & Prison Street

Many hotels also offer shuttle service

MAUI HAPPENINGS

10/27: BOO Bash at Outlets of Maui Lahaina 4pm

10/28: 2nd Annual Keiki Halloween at the Shops of Wailea 3pm

10/28: XTERRA World Championships details

10/31: Halloween in Lahaina Town (details above)

11/3: Arbor Day 1,000 tree giveaway info

11/4 & 12/2: Makawao Walking History Tour schedule

11/4 & 12/2: Jazz Maui Concert 11am Queen Kaahumanu Center

11/8: David Benoit Maui Coffee Attic

11/8: Day of Hope 5k and 10k info

11/9: Chinese Heritage Festival Lahaina details

11/19-21: Maui Jim Maui Invitational Chaminade

11/22: Turkey Trot schedule

Hawaii Food & Wine Festival details

10/19: Roy's 21'st Annual Golf Classic 11:30am

10/20: Spiked! 6pm-9pm Sheraton

10/21: Keiki in the Kitchen Kaanapali Whalers Village 10am-3pm

10/21: Symphony of Flavors 6pm - 9pm Hyatt Regency

Maui OnStage Iao Theater tickets

10/20-28: Honk Jr.

11/23 - 12/9: Elf The Musical

Maui Arts & Cultural Center
tickets

10/20: Mohala Mai hula

10/25: "Soil" Asian intercultural dance

10/26: Livingston Taylor in concert

10/27: Observe & Play Family Day

10/28: Bones Thugs-N-Harmony hip-hop

11/01: Tango Extravaganza

11/2-3: Made in Maui Festival

11/04: Pilina Aloha hula/song

11/9-10: Kumu Kahua Theatre Pakalolo Sweet play

11/17: Dirty Heads reggae/hip hop

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

Mulligans On The Blue Tuesdays

6:30 pm Free Magic Show

As you read above, mortgage interest rates have risen, and the Fed is expected to raise their rate again in December. I don't have to tell you that mortgage rates affect the housing market. What I can tell you is that 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. We're available to you 7 days a week.