Kaanapali Golf Estates 
January 2020
LOCAL MAUI NEWS
Aloha Fellow Kaanapali Golf Estate 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"...
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.

        CURRENT MARKET ANALYSIS

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 Kaanapali Golf Estates :

VACANT LAND

Status
Address
List $
Sq Ft
Sold $
Close
GENERAL
no listings
KAHUA KAI
no listings
SUMMIT
Active
195 Welau Way
339,000
10,790
Active
165 Welau Way
395,000
10,574
Active
411 Wekiu Pl
419,000
11,112
Sold
166 Welau Way
599,000
12,867
555,000
10/02/19
PINNACLE
Active
45 E. Mahi Pua Pl
625,900
19,651
Active
28 W Mahi Pua Pl
690,000
20,586
Active
10 W Mahi Pua Pl
799,000
18,012
Active
84 W Mahi Pua Pl
925,000
18,977
LANIKEHA
Active
627 Anapuni Lp
395,000
12,117
Active
607 Anapuni Lp
395,000
12,630
Active
704 Anapuni Lp
399,000
11,927
Active
647 Anapuni Lp
399,500
12,081
Active
110 Lewa Lani Pl
475,000
13,072
Active
27 Kaulele PL
475,000
12,071
Active
6 Kaulele Pl
495,000
13,699
Active
65 Lolii Pl
525,000
20,617
Active
167 Anapuni Lp
545,000
21,780
Active
955 Anapuni Pl
548,000
20,611
Active
447 Anapuni Lp
550,000
30,880
Active
1015 Anapuni Lp
585,000
21,192
Active
85 Lolii Pl
585,000
29,316
Active
377 Anapuni Lp
599,000
21,192
Active
975 Anapuni Pl
599,000
20,315
Active
444 Anapuni Lp
749,000
41,166
Active
484 Anapuni Lp
785,000
41,048
Active
464 Anapuni Lp
795,000
41,147
Active
374 Anapuni Lp
829,000
40,829
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
Escrow
70 Lewa Lani Pl
375,000
11,800
Escrow
50 Lewa Lani Pl
395,000
10,907
Sold
87 Kaulele Pl
500,000
14,417
500,000
10/30/19
Sold
68 Keahilili Pl
435,000
26,266
435,000
08/08/19
Sold
45 Lolii Pl
425,000
20,417
400,000
06/28/19
Sold
404 Anapuni Lp
715,000
40,862
695,000
02/22/19


RESIDENTIAL

Status
Address
List $
Bd
Ba
Sold $
Close
Active
318 Aalii Way
1,999,000
3
2.5
Active
324 Aalii Way
2,225,000
3
3.5
Active
365 Kului Way
1,974,000
4
3
Active
312 Aalii Way
2,450,000
4
3.5
Active
180 Kalaihi Pl
2,570,000
4
3.5
Active
249 Amakihi Way
2,695,000
4
3.5
Active
320 S Ulukoa Pl
2,995,000
4
5.5
Sold
300 Aalii Way
2,290,000
4
3.5
2,100,000
01/07/20
Sold
229 Amakihi Way
1,690,000
4
4
1,535,000
10/18/19
Sold
361 Aalii Way
1,539,800
4
4
1,236,922
09/16/19
Sold
346 Aalii Way
1,400,000
3
2.5
1,380,000
07/02/19
Sold
241 Amakihi Way
1,835,000
4
3.5
1,835,000
02/07/19
KAHUA KAI
Sold
50 Kahua Kai Pl
3,495,000
3
4
3,250,000
11/04/19
Sold
18 Kahua Kai Pl
3,299,000
3
3.5
3,100,000
06/26/19
SUMMIT
Active
211 Wahi Oli Way
1,525,000
3
3
Active
384 Wekiu Pl
2,375,000
3
3.5
Active
407 Wekiu Pl
2,495,000
3
4
Escrow
412 Wekiu Pl
1,950,000
3
3
Sold
215 Wahi Oli Way
1,795,000
3
3
1,700,000
12/02/19
Sold
211 Welau Way
2,395,000
3
3.5
2,200,000
04/15/19
PINNACLE
Active
56 W. Mahi Pua Pl
5,750,000
5
5
Escrow
98 W. Mahi Pua Pl
2,850,000
3
5
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
1,999,997
3
3
Active
30 Lewa Lano Pl
2,000,000
3
3.5
Active
784 Anapuni Lp
3,695,000
4
3.5
Active
49 Keahilele Pl
3,987,000
4
3.5
Active
297 Anapuni Lp
3,995,000
4
4.5
Active
227 Anapuni Lp
3,995,000
4
4.5
Active
204 Anapuni Lp
4,395,000
4
4.5
Sold
970 Anapuni Pl
3,500,000
4
3.5
3,175,000
10/30/19
Sold
577 Anapuni Lp
2,600,000
3
3.5
2,400,000
08/26/19
Sold
267 Anapuni Lp
4,975,000
5
4.5
4,500,000
08/15/19


THE VINTAGE

Status
Unit
Bd
Ba
List $
Sold $
Close
Active
57
3
2.5
1,069,000
Active
61
2
2.5
1,125,000
Active
19
3
2.5
1,150,000
Active
28
3
3
1,425,000
Sold
141
3
2.5
995,000
950,000
09/10/19
Sold
21
3
2.5
999,999
890,999
08/30/19
Sold
130
3
2.5
1,200,000
1,050,000
09/30/19
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
Sold
44
3
3
1,100,000
950,000
01/15/20
Sold
29
3
3
1,449,999
1,425,000
10/25/19

Figures from Realtors Association of Maui
FEATURED LISTINGS

The Summit
Vacant Lot
165 Welau Way
$395,000

Parcel A-9 at 165 Welau Way is located at the end of the quiet Welau cul-de-sac within the exclusive double gated subdivision of  The Summit at Kaanapali Golf Estates.  This pacific ocean and West Maui Mountain view lot is ready to be built on.  The level ground topography makes this parcel near shovel ready.  The home site allows for a large residence up to two stories to be built including landscaping, pool and Jacuzzi.  The parcel is approximately 10,574 square feet and one of the few remaining buildable parcels available in the community.  The Summit is a relaxing and carefree golf-cart friendly neighborhood a short ride from the world famous Kaanapali Beach and Resort.  This neighborhood is great for both full time residents and vacation home owners.  Kaanapali is where the world comes to play.
(click on pictures for more information)



                  





320 S Ulukoa Place
4 Bedroom   5.5 Bath
$2,995,000

320 South Ulukoa is a Premium Resort Home located at the top of South Ulukoa and at the end of the private cul-de-sac inside the secure gates of Kaanapali Golf Estates.   Each of the 4 bedrooms have their own full bathroom; the large master suite has a private lanai, sitting area, and walk-in closet.  The private pool and spa patio was designed to include a 65-foot lap pool and be accessed from the kitchen, living room and dining room.  The lush landscaping  appears to flow seamlessly into the golf course.   Additional amenities include a 3-car garage, PV Solar System, and an Outdoor pool shower and bath.  The home is being sold fully furnished.
(click on pictures for more information)


         

         






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 Pinnacle
56 W Mahi Pua Pl
5 Bedrooms, 5 Baths
$5,750,000

The Pinnacle Residence 27 offers the best of the highly sought after Kaanapali Lifestyle including golf cart routes to the white sand beaches below. West facing, gated, fully landscaped, over 8,000 Sq Ft under roof and perched high above the 8th fairway of the Kaanapali Kai Golf Course, this estate experiences both dynamic year round sunsets and complete privacy. All of the main living space is on the upper level including the garage and main entry. Stunning panoramas of outer islands Molokai and Lanai can be enjoyed from the master bedroom wing, living room, kitchen, great room and pool deck. Smooth sliding large glass pocket doors line the West wall of the upper level opening up to the outdoor covered pool deck, infinite pool, spa, kitchen and bar. An outdoor shower, Jacuzzi bath tub, generous walk-in closet and a multi shower-head indoor shower make for a master bathroom worth envying. The lower level acts as the guest quarters and entertainment zone boasting an over-sized movie theater, large grass lawn, outdoor covered deck, workout room, tasting room and more. Built in 2009 with the finest finishes and materials along with complete solar panels, five air conditioning zones and a Lutron 'Smart Home' system, Residence 27 cannot be compared. 
(click on pictures for more information)

           

                 
      TRAVEL

All Nippan 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!


      MORTGAGES
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.
MAUI HAPPENINGS    
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
2/29: Annual Great Whale Count  take part


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


Maui Onstage - Iao Theater   tickets
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


ProArts Playhouse Kihei    tickets
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
Complete Guidebook:  click here 
 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. 

Alex, Leslee, and John
Your Kaanapali Specialists

If you are currently listed with another Broker, this is not intended to disturb that relationship
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