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Kaanapali Golf Estates
January 2020
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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"...
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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.
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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
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VACANT LAND
Status
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Address
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List $
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Sq Ft
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Sold $
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Close
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GENERAL
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no listings
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KAHUA KAI
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no listings
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SUMMIT
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Active
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195 Welau Way
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339,000
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10,790
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Active
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165 Welau Way
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395,000
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10,574
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|
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Active
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411 Wekiu Pl
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419,000
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11,112
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Sold
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166 Welau Way
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599,000
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12,867
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555,000
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10/02/19
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PINNACLE
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Active
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45 E. Mahi Pua Pl
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625,900
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19,651
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Active
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28 W Mahi Pua Pl
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690,000
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20,586
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Active
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10 W Mahi Pua Pl
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799,000
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18,012
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Active
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84 W Mahi Pua Pl
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925,000
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18,977
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LANIKEHA
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Active
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627 Anapuni Lp
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395,000
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12,117
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Active
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607 Anapuni Lp
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395,000
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12,630
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Active
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704 Anapuni Lp
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399,000
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11,927
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Active
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647 Anapuni Lp
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399,500
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12,081
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Active
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110 Lewa Lani Pl
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475,000
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13,072
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Active
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27 Kaulele PL
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475,000
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12,071
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Active
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6 Kaulele Pl
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495,000
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13,699
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Active
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65 Lolii Pl
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525,000
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20,617
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Active
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167 Anapuni Lp
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545,000
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21,780
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|
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Active
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955 Anapuni Pl
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548,000
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20,611
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Active
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447 Anapuni Lp
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550,000
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30,880
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Active
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1015 Anapuni Lp
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585,000
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21,192
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|
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Active
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85 Lolii Pl
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585,000
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29,316
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Active
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377 Anapuni Lp
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599,000
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21,192
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Active
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975 Anapuni Pl
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599,000
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20,315
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Active
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444 Anapuni Lp
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749,000
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41,166
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|
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Active
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484 Anapuni Lp
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785,000
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41,048
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Active
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464 Anapuni Lp
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795,000
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41,147
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Active
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374 Anapuni Lp
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829,000
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40,829
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Active
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25 Lolii Pl
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849,000
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20,219
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Active
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584 Anapuni Lp
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875,000
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54,280
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Active
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344 Anapuni Lp
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875,000
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56,192
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Active
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564 Anapuni Lp
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895,000
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43,643
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Escrow
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70 Lewa Lani Pl
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375,000
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11,800
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Escrow
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50 Lewa Lani Pl
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395,000
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10,907
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Sold
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87 Kaulele Pl
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500,000
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14,417
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500,000
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10/30/19
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Sold
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68 Keahilili Pl
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435,000
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26,266
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435,000
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08/08/19
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Sold
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45 Lolii Pl
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425,000
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20,417
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400,000
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06/28/19
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Sold
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404 Anapuni Lp
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715,000
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40,862
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695,000
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02/22/19
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RESIDENTIAL
Status
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Address
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List $
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Bd
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Ba
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Sold $
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Close
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Active
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318 Aalii Way
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1,999,000
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3
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2.5
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Active
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324 Aalii Way
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2,225,000
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3
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3.5
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Active
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365 Kului Way
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1,974,000
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4
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3
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Active
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312 Aalii Way
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2,450,000
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4
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3.5
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Active
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180 Kalaihi Pl
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2,570,000
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4
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3.5
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Active
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249 Amakihi Way
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2,695,000
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4
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3.5
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Active
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320 S Ulukoa Pl
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2,995,000
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4
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5.5
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Sold
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300 Aalii Way
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2,290,000
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4
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3.5
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2,100,000
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01/07/20
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Sold
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229 Amakihi Way
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1,690,000
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4
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4
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1,535,000
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10/18/19
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Sold
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361 Aalii Way
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1,539,800
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4
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4
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1,236,922
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09/16/19
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Sold
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346 Aalii Way
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1,400,000
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3
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2.5
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1,380,000
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07/02/19
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Sold
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241 Amakihi Way
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1,835,000
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4
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3.5
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1,835,000
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02/07/19
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KAHUA KAI
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Sold
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50 Kahua Kai Pl
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3,495,000
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3
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4
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3,250,000
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11/04/19
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Sold
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18 Kahua Kai Pl
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3,299,000
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3
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3.5
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3,100,000
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06/26/19
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SUMMIT
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Active
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211 Wahi Oli Way
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1,525,000
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3
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3
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Active
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384 Wekiu Pl
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2,375,000
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3
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3.5
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Active
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407 Wekiu Pl
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2,495,000
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3
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4
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Escrow
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412 Wekiu Pl
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1,950,000
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3
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3
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Sold
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215 Wahi Oli Way
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1,795,000
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3
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3
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1,700,000
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12/02/19
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Sold
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211 Welau Way
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2,395,000
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3
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3.5
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2,200,000
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04/15/19
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PINNACLE
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Active
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56 W. Mahi Pua Pl
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5,750,000
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5
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5
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Escrow
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98 W. Mahi Pua Pl
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2,850,000
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3
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5
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Sold
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94 W. Mahi Pua Pl
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3,895,000
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5
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4.5
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3,750,000
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05/03/19
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Sold
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23 W. Mahi Pua Pl
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3,595,000
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5
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5.5
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3,428,000
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02/28/19
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LANIKEHA
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Active
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697 Anapuni Lp
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1,999,997
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3
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3
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Active
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30 Lewa Lano Pl
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2,000,000
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3
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3.5
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Active
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784 Anapuni Lp
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3,695,000
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4
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3.5
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Active
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49 Keahilele Pl
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3,987,000
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4
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3.5
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Active
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297 Anapuni Lp
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3,995,000
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4
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4.5
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Active
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227 Anapuni Lp
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3,995,000
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4
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4.5
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|
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Active
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204 Anapuni Lp
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4,395,000
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4
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4.5
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Sold
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970 Anapuni Pl
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3,500,000
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4
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3.5
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3,175,000
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10/30/19
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Sold
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577 Anapuni Lp
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2,600,000
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3
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3.5
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2,400,000
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08/26/19
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Sold
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267 Anapuni Lp
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4,975,000
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5
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4.5
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4,500,000
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08/15/19
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THE VINTAGE
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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Sold $
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Close
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Active
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57
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3
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2.5
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1,069,000
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Active
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61
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2
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2.5
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1,125,000
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Active
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19
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3
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2.5
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1,150,000
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Active
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28
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3
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3
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1,425,000
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Sold
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141
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3
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2.5
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995,000
|
950,000
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09/10/19
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Sold
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21
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3
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2.5
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999,999
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890,999
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08/30/19
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Sold
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130
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3
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2.5
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1,200,000
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1,050,000
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09/30/19
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Sold
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124
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3
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2.5
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1,300,000
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1,200,000
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04/18/19
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Sold
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139
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3
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2.5
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1,325,000
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1,325,000
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06/05/19
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Sold
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44
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3
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3
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1,100,000
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950,000
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01/15/20
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Sold
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29
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3
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3
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1,449,999
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1,425,000
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10/25/19
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Figures from Realtors Association of Maui
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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)
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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!
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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.
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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
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
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
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
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
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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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Berkshire Hathaway
HomeServices
Maui Properties
Copyright 2017. All Rights Reserved.
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