 |
Kaanapali Golf Estates Update
June 2019
|
Aloha Fellow Kaanapali Golf Estates Owners,
 The photos above and to the left are of an Obon Festival. The Japanese Buddhist tradition of obon will be held this summer at Missions all over Maui. The group dance or bon odori, will be performed at the festivals, celebrating the custom of honoring the spirits of their ancestors. If you've never been, it's worth checking out. Click below for the schedule.
6 / 28-29: Kahului Jodo Mission
7/06: Lahaina Jodo Mission
7 / 12-13: Pai'a Mantokuji Soto Zen Mission
7/19-20: Kahului Hongwanji Mission
7/26-27: Makawao Hongwanji Mission
8/02-03: Wailuku Hongwanji Mission
8/9-10: Lahaina Hongwanji Mission
8/17: Rinzai Zen Mission, Pai'a
8/24: Kula Shofukuji Mission
9/07: Hana Buddhist Temple
After undergoing nine months of renovations, the former Maui Mall in Kahului is reopening under a new name the
Maui Mall Village
. The nearly 50 year old center has been redesigned and revitalized. * According to a new study by SeniorLiving.org, Hawaii is the #1 state in America with the highest life expectancy of 81.3 years old. Must be that stress-free island lifestyle. * But just in case you do have a little stress you'd like to get rid of there's something new. First there were trivia nights, then paint parties, then breakout rooms. Well for the latest group outing adventure, you'll have to puddle jump over to Honolulu to
Blade & Timber
. It's a completely safe atmosphere in which you get to throw axes, trying to hit a bullseye. And don't think this is just for a guy's night out ... the ladies seem to score better than the men!
Lahaina is the place to be to celebrate the 4th of July on Maui. Festivities begin in the afternoon with music, food, games and keiki (children) activities. Fireworks are set to display at 8pm from a barge offshore from Front Street. You can view the fireworks from ocean view areas and restaurants on Front Street and surrounding areas. Special cocktail and dinner cruises to see the fireworks sell out quickly.
Pacific Whale Foundation
Lahaina or Maalaea Cocktail Cruise
details
Lahaina Fireworks Sail
info
Trilogy
Pride of Maui :
Maalaea only
info
|
Across the country, homeowners who have a mortgage saw their equity increase by 5.6% over the past year, according to a new report by CoreLogic. The average homeowner gained $6,400 in home equity, but some states saw larger gains than others. Hawaii was in the top 10 states in the country with the highest average gain of $16,000.
wills of single-family homes on Maui rose 18% last month, compared to a year ago. The median price of a single-family home of $705,000 was 2.2% higher than the median price in May 2018 of $690,000. The number of homes sold last month increased by 17.7% to 133 homes, from 113 homes sold in May of last year.
The number of condominiums sold on Maui last month declined by 17.4% to 142 units sold, from 172 sold during the same month last year. However, the median price of those condos rose 9.7% to $518,500, from $472,500 in May 2018.
Now l
et's take a look at the Kaanapali Golf Estates
:
VACANT LAND
|
Status
|
Address
|
List $
|
Sq Ft
|
Sold $
|
Close
|
|
GENERAL
|
no listings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KAHUA KAI
|
no listings
|
|
|
|
|
|
|
|
|
|
|
|
SUMMIT
|
|
|
|
|
|
|
Active
|
195 Welau Way
|
375,000
|
10,790
|
|
|
|
Active
|
411 Wekiu Pl
|
439,000
|
11,112
|
|
|
|
Active
|
166 Welau Way
|
599,000
|
12,867
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PINNACLE
|
no listings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LANIKEHA
|
|
|
|
|
|
|
Active
|
70 Lewa lani Pl
|
375,000
|
11,800
|
|
|
|
Active
|
647 Anapuni Lp
|
399,500
|
12,081
|
|
|
|
Active
|
627 Anapuni Lp
|
410,000
|
12,117
|
|
|
|
Active
|
607 Anapuni Lp
|
420,000
|
12,630
|
|
|
|
Active
|
704 Anapuni Lp
|
459,000
|
11,927
|
|
|
|
Active
|
995 Anapuni Pl
|
460,000
|
20,299
|
|
|
|
Active
|
27 Kaulele Pl
|
475,000
|
12,071
|
|
|
|
Active
|
51 Lewa Lani Pl
|
549,000
|
24,394
|
|
|
|
Active
|
65 Lolii Pl
|
550,000
|
20,617
|
|
|
|
Active
|
110 Lewa Lani Pl
|
550,000
|
13,072
|
|
|
|
Active
|
447 Anapuni Lp
|
550,000
|
30,880
|
|
|
|
Active
|
167 Anapuni Lp
|
575,000
|
21,780
|
|
|
|
Active
|
85 Lolii Pl
|
585,000
|
20,617
|
|
|
|
Active
|
1015 Anapuni Pl
|
585,000
|
20,826
|
|
|
|
Active
|
444 Anapuni Lp
|
749,000
|
41,166
|
|
|
|
Active
|
484 Anapuni Lp
|
785,000
|
41,048
|
|
|
|
Active
|
25 Lolii Pl
|
849,000
|
20,219
|
|
|
|
Active
|
584 Anapuni Lp
|
875,000
|
54,280
|
|
|
|
Active
|
344 Anapuni Lp
|
875,000
|
56,192
|
|
|
|
Active
|
564 Anapuni Lp
|
895,000
|
43,643
|
|
|
|
Active
|
224 Anapuni Lp
|
995,000
|
40,816
|
|
|
|
Active
|
304 Anapuni Lp
|
995,000
|
40,554
|
|
|
|
Active
|
184 Anapuni Lp
|
995,000
|
43,342
|
|
|
|
|
|
|
|
|
|
Escrow
|
45 Lolii Pl
|
425,000
|
20,417
|
|
|
|
|
|
|
|
|
|
Sold
|
404 Anapuni Lp
|
715,000
|
40,862
|
695,000
|
02/22/19
|
RESIDENTIAL
|
Status
|
Address
|
List $
|
Bd
|
Ba
|
Sold $
|
Close
|
|
Active
|
324 Aalii Way
|
2,225,000
|
3
|
3.5
|
|
|
|
Active
|
229 Amakihi Way
|
1,799,000
|
4
|
4
|
|
|
|
Active
|
365 Kului Way
|
1,999,000
|
4
|
3.5
|
|
|
|
Active
|
300 Aalii Way
|
2,365,000
|
4
|
5
|
|
|
|
Active
|
180 Kalaihi Pl
|
2,750,000
|
4
|
4
|
|
|
|
Active
|
320 S Ulukoa Pl
|
3,195,000
|
4
|
4.5
|
|
|
|
|
|
|
|
|
|
|
Escrow
|
346 Aalii Way
|
1,400,000
|
3
|
2.5
|
|
|
|
Escrow
|
361 Aalii Way
|
1,539,800
|
4
|
4
|
|
|
|
|
|
|
|
|
|
|
Sold
|
241 Amakihi Way
|
1,835,000
|
4
|
3.5
|
1,835,000
|
02/07/19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KAHUA KAI
|
|
|
|
|
|
|
|
Active
|
50 Kahua Kai Pl
|
3,595,000
|
3
|
4
|
|
|
|
|
|
|
|
|
|
|
Escrow
|
18 Kahua Kai Way
|
3,299,000
|
3
|
3.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUMMIT
|
|
|
|
|
|
|
|
Active
|
211 Wahi Oli Way
|
1,550,000
|
3
|
3
|
|
|
|
Active
|
215 Wahi Oli Way
|
1,795,000
|
3
|
3
|
|
|
|
|
|
|
|
|
|
|
Sold
|
211 Welau Way
|
2,395,000
|
3
|
3.5
|
2,200,000
|
04/15/19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PINNACLE
|
|
|
|
|
|
|
|
Active
|
56 W. Mahi Pua Pl
|
5,800,000
|
3
|
4
|
|
|
|
|
|
|
|
|
|
|
Sold
|
94 W. Mahi Pua Pl
|
3,895,000
|
5
|
4.5
|
3,750,000
|
05/03/19
|
|
Sold
|
23 W. Mahi Pua Pl
|
3,595,000
|
5
|
5.5
|
3,428,000
|
02/28/19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LANIKEHA
|
|
|
|
|
|
|
|
Active
|
697 Anapuni Lp
|
2,099,000
|
3
|
3
|
|
|
|
Active
|
30 Lewa Lani Pl
|
2,100,000
|
3
|
3.5
|
|
|
|
Active
|
577 Anapuni Lp
|
2,600,000
|
3
|
3.5
|
|
|
|
Active
|
784 Anapuni Lp
|
3,795,000
|
4
|
3.5
|
|
|
|
Active
|
227 Anapuni Lp
|
3,995,000
|
4
|
4.5
|
|
|
|
Active
|
49 Keahilele Pl
|
4,300,000
|
4
|
3.5
|
|
|
|
Active
|
204 Anapuni Lp
|
4,800,000
|
4
|
4.5
|
|
|
|
Active
|
267 Anapuni Lp
|
4,975,000
|
5
|
4.5
|
|
|
THE VINTAGE
|
Status
|
Unit
|
Bd
|
Ba
|
List $
|
Sold $
|
Close
|
|
Active
|
141
|
3
|
2.5
|
995,000
|
|
|
|
Active
|
21
|
3
|
2.5
|
999,999
|
|
|
|
Active
|
61
|
2
|
2.5
|
1,125,000
|
|
|
|
Active
|
57
|
3
|
2.5
|
1,149,000
|
|
|
|
Active
|
130
|
3
|
2.5
|
1,200,000
|
|
|
|
Active
|
104
|
3
|
2.5
|
1,300,000
|
|
|
|
Active
|
28
|
3
|
3
|
1,447,000
|
|
|
|
|
|
|
|
|
|
|
Sold
|
124
|
3
|
2.5
|
1,300,000
|
1,200,000
|
04/18/19
|
|
Sold
|
139
|
3
|
2.5
|
1,325,000
|
1,325,000
|
06/05/19
|
Figures from Realtors Association of Maui
|
FEATURED LISTINGS
Kaanapali Golf Estates
324 Aalii Way
3 Bedroom 3.5 Bath $2,225,000
324 Aalii Way is located behind the gates of the highly sought after Kaanapali Golf Estates. Year round ocean, sunset, and outer island views can be enjoyed at this nearly 5,000 sf estate, The main living area allows for single level living with the master bedroom, kitchen, living and dining rooms, pantry, and laundry all on the same floor. An elegant curved stairway takes you down to a family room, second master, and guest bedrooms. The downstairs provides direct access to the outdoor covered lanais, waterfalls, pool, raised hot tub, and seated grotto.
(click on pictures for more information)
The Summit
215 Wahi Oli Way
Single Level 3 Bedroom $1,795,000
215 Wahi Oli Place is located behind the double gates of the Kaanapali Golf Estates and The Summit. This home boasts direct west views to Molokai and Lanai with year round sunsets and winter whale watching. Lot 17 is a single level home with two master suites and a third guest bedroom. Experience ocean and island views from the formal master bedroom, living room, dining room, and kitchen. The home features a pool, spa, outdoor kitchen with direct gas, bonus workout room, Subzero stainless steel appliances with gas stove, refrigerator drawers, Subzero wine cooler and much more. Surrounded by grass lawns and resort style landscaping, Summit 17 feels bright and inviting. Homes in The Summit Phase I are rarely available and the association dues cover the exterior paint and pressure washing, roof, all landscaping, insurance, pest control, and pool and spa maintenance. Secure, safe and located in the Kaanapali Resort, The Summit is a short golf cart ride to all that Kaanapali has to offer. Home is being sold fully furnished.
(click on pictures for more information)
|
|
Frontier Airlines announced that its newest order of long-range airplanes could put flights to Hawaii in it's near future. They've ordered 18 fuel-efficient A321XLR Airbuses that have a range of 5,400 miles.
Hawaiian Airlines carried more than one million passengers last month. Total traffic, or revenue passenger miles, was up nearly 6% year-over-year. Capacity, or available seat miles, increased by 4% compared to May 2018.
TOURISM
In the first four months of this year, visitor spending decreased on Maui by 5.3% to $1.72 billion, despite a 3.4% growth in visitor arrivals. So what's causing this? The Hawaii Tourism Authority recently released data which might explain the trend - growth of vacation rental condominiums and houses. People who rent vacation homes tend to spend much less than their counterparts staying in hotels.
Well, of course they do. They're not getting nickel and dimed on every little thing like at the hotels. They also can prepare some of their own meals instead of eating out every single time. They can even do laundry, instead of sending it out through the hotel cleaning service. This is good on two fronts. From the visitor's point of view they're able to enjoy multiple bedrooms, full kitchens, laundry, free parking, plus all the amenities of a resort - without the overpriced hotel costs.
On the other hand, the owners of the vacation rentals are enjoying a steady stream of income for their property when they're not using it. I do it with my rental properties. At first I tried renting them out myself - what a headache. Now I have all my rental properties being handled by
M
aui Beachfront Rentals.
Do what I do now and check out
MBR
. They take all the hassle out of it for you.
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.
|
The big news this past week came with the Federal Reserve leaving interest rates unchanged. According to
Dean Rathbun
of
Avis Mortgage
says that while the Fed held interest rates steady, they shifted towards a more dovish stance and pointed to possible interest rate cuts in the future.
Hawaii has the highest share of condominium mortgage originations in the United States at 42%. Mortgage giants Fannie Mae and Freddie Mac are loosening lending restrictions and making it easier for buyers. One stumbling block was the requirement that 51% or more of all units in condo buildings be owned by owner occupants, meaning fewer than 50% could be owned by investors. That's gone now, and if the investor is putting down 25% or more, they don't look at owner occupancy. They've also relaxed the rules on commercial space in condo buildings to allow 35% of the space as commercial, from the previous 25%.
Mortgage rates have had an impressive run - the best since 2011. These lower mortgage rates are proving to be a boon for home shoppers this summer. While the continued drop in mortgage rates has paused, home buyer demand has not. While low rates, strong job market, solid wage growth, and consumer confidence are holding steady, it's important to keep an eye out for events on the horizon in the next two weeks _ G20 summit and important economic data the first week of July.
|
MAUI HAPPENINGS
 |
|
|
4th of July on Maui |
6/23-30: Maui Jazz Camp
info
6/27: Hawaiian Music Series Concerts in Lahaina
details
7/13: IAO Valley 10 & 5K Run
info
Aloha Friday Free Movie Night
info
7/19: Coco
8/16: Hotel Transylvania 3: Summer Vacation
Maui Arts & Cultural Center
6/23: 28th Annual Ki Ho'alu Slack Key Guitar Festival
6/28: Streetlight Cadence alternative folk pop
6/29: Jazz Maui: Jazz, Blues, & Beyond
7/18: Workshop with the Dancers of Damelahamid
(all levels welcome)
7/19: Dancers of Damelahamid
(dances of the 1st nations cultures)
7/21: Gary clark Jr. mix of blues, rock & soul
The MayJah RayJah
7/26: Damian 'Jr. Gong' Marley
7/27: SOJA
6/7-23: Sleuth
As you can see from reading our update, real estate and the Maui economy is doing well. Lots of tourists still coming to our Island, many of them wishing to own their own little piece of paradise. So if you're wondering what your property may be worth in this market, we'd be more than happy to provide you with a free, no obligation, confidential assessment of your property. Conversely, if you're looking to get in on some good buys, let us know and we'll look into adding to your real estate portfolio.
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.
We hope you're enjoying our monthly updates. Feel free to share them with your friends and neighbors. If they like, we'll add them to our update list. Completely private and never any junk mail.
Alex, Leslee, and John
Your Kaanapali Specialists
|
|
|
|
If you are currently listed with another Broker, this is not intended to disturb that relationship
|
Low Fixed & Adjustable Rates
Condo-tel Lender for over 23 Years
DEAN RATHBUN
Toll Free (888) 455-AVIS (2847
)
|
Increased Income Reduced Expenses
Never Pay For Guest Damages
Guest Travel Insurance Eliminates Guest Refunds
MAUI BEACHFRONT RENTALS
Toll Free (888) 661-7200
|
|
|
|
|
|
|
