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Mele Kalikimaka a Hauʻoli Makahiki Hou
Merry Christmas and Happy New Year
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Aloha Fellow Kahana Owners,
Between the Vans Triple Crown of surfing, the Maui Invitational college basketball tournament and The Sentry Tournament of Champions (PGA) and Los Angeles Rams pre-season game set for next year, there are a lot of reasons why sports fans are paying attention to Hawaii. The idea of forming an independent state sports commision is floating around again. Recently it was announced that The Pacific Rim cup, a professional soccer tournament that debuted earlier this year at Aloha Stadium, will return to Hawaii in February. The global tournament will take place during four matches on Feb. 8 and 10.
The iconic Maui Sugar Cane Train may return permanently with regular runs starting in May. In the meantime, if you have kids (or are just a big kid yourself) you shouldn't miss the "Holiday Express". The 4-mile roundtrip through West Maui includes games, milk and cookies, and even a brief stop to pick up Santa. This is really a unique experience and you can even get a gift for kids and a printed photo with Santa. It runs twice nightly thru December 31st. Get all the details
here.
The Plantation Course is set to be renovated with an extensive multi-million dollar enhancement project set to begin in February (after The Sentry Tournament of Champions) and completed by November 2019. Already completed are a number of recently unveiled improvements to the Kapalua Bay Course. The course has been rerouted to improve pace of play and create a memorable and challenging final stretch of holes.
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Home prices on Maui rose last month, compared to November 2017. The median price of a single-family home rose nearly 8% and the median price of a condominium jumped 32%.
The median price of a condominium last month was $528,650, which was an increase of 32.3% from $399,500 during November 2017. The number of condos sold declined by 6.3% to 120 units, from 128 during the same time last year.
The median price of a single-family home last month was $740,398, which was 7.6% higher than the median price of $688,000 in November 2017. The number of single-family homes increased by 4.6% to 76 homes sold, from 73 sold last year.
Now l
et's take a look at Kahana
:
KAHANA SUNSET
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STATUS
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UNIT
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BD
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BA
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LIST $
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LT
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SOLD $
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CLOSE
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Active
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E2E
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1
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1
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535,000
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Active
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C5
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2
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2
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808,000
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Sold
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A8
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2
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2.5
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1,300,000
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1,025,000
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3/19/2018
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KAHANA VILLAGE
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STATUS
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UNIT
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BD
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BA
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LIST $
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LT
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SOLD $
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CLOSE
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Active
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2
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2
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2
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898,000
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LH
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Sold
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37 (7A1)
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3
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2
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1,149,000
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LH
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1,004,500
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11/9/2018
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KAHANA OUTRIGGER
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STATUS
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UNIT
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BD
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BA
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LIST $
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LT
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SOLD $
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CLOSE
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Sold
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1B1
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3
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2
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650,000
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LH
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555,000
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8/13/2018
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Figures from Realtors Association of Maui
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It seems that for the state of Hawaii, neither strikes, volcanic eruptions, nor natural disasters kept this year's tourism numbers so far this year from surpassing the record number of tourists in 2017. According to a recent report from the Hawaii Tourism Authority, the state's tourism struggles began in April when parts of Kauai dealt with massive flooding ... nearly 50 inches of rain in one 24-hour period. Then there was the volcanic eruption at Kilauea, followed by Hurricane Lane and Tropical Storm Olivia. The cherry on top was a 51-day strike that involved 2,700 hotel workers. With all that, Hawaii is still on track to surpass last year's tourism record!
But what about visitor
satisfaction? Maui received mostly rave reviews from visitors regardless of their origin, although Japanese tourists apparently were harder to please, according to a study prepared for The Hawaii Tourism authority.
Maui Visitor Satisfaction Barometer
VISITORS
EXCELLENT
ABOVE AVERAGE
East Coast
90.1%
8.6%
Canada
89.4%
9.6%
West Coast
88.7%
9.4%
Japan
68.7%
28.7%
Oceania
85.7%
Europe
84.1%
Korea
83.2%
China
80.8%
To see the full report
click here. And go to 2018 VSAT Report 2nd Quarter
All year long,
M
aui Beachfront Rentals handles my vacation rentals so I can enjoy a steady stream of income without all the hassles. When I have guests coming in, like now for the holidays, I never send them to a hotel. Why would I, when they can enjoy a fully equipped kitchen, laundry, free parking, and all the amenities of a resort through
MBR. Maybe you should make it one of your
New Year's resolutions
to check them out and see if you can't make good money when not using your property. Not only will they take all the hassle out of it for you, they'll cover all the bases plus extra advertising on sites like VRBO, HomeAway, Flip Key and others ... all at no additional cost.
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Dean Rathbun
of
Avis Mortgage
says that home shoppers and refinancers saw some relief in mortgage borrowing costs this week. The 30-year fixed rate mortgage moved to its lowest average since mid-September. Conforming loan limits are going to get a boost for 2019 in nearly every part of the U.S. Fannie Mae and Freddie Mac announced a 6.9% increase to $484,350 next year from $453,100 this year. The FHFA also announced an increase to loan limits in "high-cost areas." They define that where 115% of the local median home value is higher than the baseline loan limit. The new limit for one-unit properties in most high-cost areas will be $726,525 in 2019, rising from the current $679,650. I can do those loan amounts in Hawaii right now.
Buyers will likely see a significant jump in their monthly payments next year. Mortgage payments are forecasted to rise 8.4% in 2019. Many economists are predicting mortgage rates above 5% next year. The National Association of REALTORS predicts that the 30-year fixed interest mortgage rate to average around 5.3% next year.
Markets are turning up the heat on the Fed to dial back rate hikes. They are lowering the chance for a rate hike this month and hoping it's delayed until January. The Fed had indicated three moves next year, but the market sees at most one. We will find out December 19th whether or not the Fed approves another quarter-point move higher.
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12/24: Santa arrives by outrigger canoe 9am Wailea Beach
12/24: Santa arrives by outrigger canoe Noon - 1pm Polo Beach
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
1/05: Comedy with J P Sears
1/14: One-Acts III
1/18-20: The Maui Fringe Theater Festival
3/01-17: Pirates of Penzance
4/26-5/12: The Boys Next Door
7/12-8/4: Mama Mia
Maui Arts & Cultural Center
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
1/03: Straight No Chaser male a cappella group
1/04: Judy Collins
1/05: Willie K's Bluesfest
1/10: "The Essence" surfing film
1/12: Observe and Play Family Day
1/12: Big Bad Voodoo Daddy
1/12: Blayne Asing folk-Hawaiian music
1/13: Broadway Pops
1/18: Slightly Stoopid reggae rock fusion
1/18: Anjelah Johnson comedy
1/23: David Sedaris readings and recollections
1/27: Surfing Hawaii: related Exhibit Lectures
1/31: Derek Gripper classical guitarist
6:30 pm Free Magic Show
9:00 pm Open Mic Comedy Night (except 1st Tues of the month)
New Years Eve Cruises
Pacific Whale Foundation from Lahaina and Maalaea:
tickets
Mortgage interest rates have either fallen or remained flat for 5 consecutive weeks and purchase applicants are responding with an uptick in demand given these lower rates. But as you read above, interest rates are expected to rise next year. Right now our
Island is 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.
Happy Holidays to friends and ohana (
family
)
celebrating Christmas, Hanukkah, and Kwanzaa.
Then the Grinch thought of something he hadn't before.
What if Christmas, he thought, doesn't come from a store?
What if Christmas, perhaps, means a little bit more ...
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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