 |
Mele Kalikimaka a Hauʻoli Makahiki Ho
u
Merry Christmas and Happy New Year
|
Aloha!
The Sugar Cane Train's "Holiday Express" may reach the end of the line after this year since the owners haven't been able to make a deal with the major landowner to keep the train running. They've started a petition and if you want to show public support to keep it going,
click here. * If you're a
Pier 1 fan, they are closing all their Hawaii stores including the one on Maui ... so major liquidation sales are going on now. * And if you're all about the environment, you can wrap your holiday gifts in ECO wrapping paper created here on Maui. You can purchase it
here on line or look for
"Wrappily ECO paper" at Ben Franklin, Ace Hardware, and Whole Foods.
A few things are going to kick in on January 1, 2020, so here's a heads-up. Starting in 2020, Hawaii will have all-mail-in elections. Election officials will mail out ballots to all registered voters. If you want to still cast your ballot in person, there'll only be 1 voter service center in Wailuku. Also kicking in on January 1st ... ALL Commercial Ocean Recreation Activities at Maui county beach parks will be prohibited on Sundays and holidays. Why, you ask? It's felt that with the increased visitor numbers, steps should be taken to preserve our beaches for our residents too. And last but not least ... All national parks including Haleakala, Hawaii Volcanoes, and Puuhonua o Honaunau National parks, will be increasing their entrance fees. Haleakala will now run you $30 per vehicle, $25 per motorcycle, and $15 per pedestrian or bicyclist. The pass is a 3 day unlimited entry. Or if you want a Tri-Park Annual Pass so you can see them all without limit, the fee will be $55.
A new county financing tool could be used to pay for a multi-million dollar project to restore the Kahana Bay coastline, which is being severely eroded. The Kahana Bay Steering Committee, which represents 9 oceanfront condominiums and 1 Kuleana parcel in the area, and the county Planning Department are looking at establishing a Community Facilities District to help fund the beach nourishment project. The district would help fund the project through a special tax on property owners within its boundaries. The committee will also seek funding from county, state and federal sources. In addition, Napili's erosion issue could be addressed with the special district.
|
Nationally, more home appreciation is likely to come in the new year. In a new report released by CoreLogic, economists predict home prices will spike by 5.4% from October 2019 to October 2020. That is even higher than the 3.5% annual appreciation in national home prices posted this October.
On Maui there were 140 condominiums sold last month, an increase of 16.7% from the 120 units sold in November 2018. The median price of those units declined 5.9% to $497,550, from $528,650.
The median price of a single-family home was $730,000 in November, a 1.4% decline from $740,398 last year. The number of home sales were 71 last month, a 6.6% decline from the 76 homes sold in November of last year.
Year-to-date figures tell a different story, with sales and prices of single-family homes posting gains over the first 11 months of 2018. The median price of a home through the end of November was $743,000, which is a 4.3% increase from $712,175 during the same period last year. That was based on sales of 1,451 homes - a 2% increase from 1,422 homes sold during the first 11 months of 2018.
Year-to-date sales of condominiums however, declined by 3.5% to 1,482 units sold, from 1,535 sold during the first 11 months of last year. We did see the median price of a condo rise 2.1% to $515,500 from $500,000.
Let's take a little closer look:
COMPARING 1/1/2019 - 11/30/2019 with 1/1/2018 - 11/30/2018
Number of Sales Median Sales Price
|
CONDOS
|
2019
|
2018
|
Change
|
2019 $
|
2018 $
|
Change
|
|
Kaanapali
|
158
|
159
|
-1
|
950,000
|
800,000
|
18.8%
|
|
Kapalua
|
55
|
42
|
13
|
1,050,000
|
1,015,625
|
3.4%
|
|
Kihei
|
601
|
567
|
34
|
450,000
|
410,000
|
9.8%
|
|
Lahaina
|
104
|
82
|
22
|
548,750
|
525,750
|
4.4%
|
|
Napili/Kahana
|
240
|
230
|
10
|
453,750
|
442,500
|
2.5%
|
|
Wailea/Makena
|
122
|
206
|
-84
|
1,212,500
|
1,165,000
|
4.1%
|
|
Maui Total
|
1482
|
1535
|
-53
|
515,500
|
500,000
|
3.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HOMES
|
|
|
|
|
|
|
|
Kaanapali
|
23
|
35
|
-12
|
1,599,000
|
1,775,000
|
-9.9%
|
|
Kapalua
|
19
|
8
|
11
|
2,550,000
|
2,840,000
|
-10.2%
|
|
Kihei
|
151
|
159
|
-8
|
795,000
|
695,000
|
14.4%
|
|
Lahaina
|
56
|
50
|
6
|
844,500
|
855,500
|
-1.3%
|
|
Napili/Kahana
|
30
|
28
|
2
|
955,000
|
924,000
|
3.4%
|
|
Wailea/Makena
|
32
|
32
|
0
|
2,500,000
|
1,797,750
|
39.1%
|
|
Maui Total
|
1019
|
1044
|
-25
|
743,000
|
712,175
|
4.3%
|
Figures from Realtors Assoc of Maui
|
*** Holiday Festivities ***
So many Christmas events have already happened, but I thought I'd share a few that are still to come:
GRAND WAILEA
:
12/22-30: Hanukka at Sunset Lobby Menorah
12/24: Santa Arrives by outrigger canoe 9-11am
FAIRMONT KEA LANI WAILEA
12/22-30: Hanukkah hotel lobby
12/24: Santa arrives via outrigger canoe Noon-1 pm Polo Beach
New Years Eve Events
Nearly every resort and restaurant will have special New Year's Eve menus or celebrations. I thought I'd share some events:
ROARING 20's THEMED EVENTS:
NEW YEARS EVE CRUISES
PACIFIC WHALE FOUNDATION
Cocktail Cruises: 2 from Lahaina, 2 from Maalaea
tickets
TRILOGY FIREWORKS SAIL Maalaea
tickets
Want to impress your friends with your Aloha Spirit? Try This:
The 12 Days of Christmas - Hawaiian Style
(official lyrics)
On the 1st day of Christmas my tutu gave to me
1 Mynah Bird in 1 Papaya Tree
On the 2nd day of Christmas my tutu gave to me
2 Coconuts, and
On the 3rd day of Christmas my tutu gave to me
3
(pronounced tree) Dry Squid,
On the 4th day of Christmas my tutu gave to me 4 Flowa Leis,
On the 5th day of Christmas my tutu gave to me 5 Biiiiiig Faat Pigs,
On the 6th day of Christmas my tutu gave to me 6 Hula Lessons,
On the 7th day of Christmas my tutu gave to me 7 Shrimp a swimming,
On the 8th day of Christmas my tutu gave to me 8 Ukuleles,
On the 9th day of Christmas my tutu gave to me 9 pounds of Poi,
On the 10th day of Christmas my tutu gave to me 10 Cans o Bea,
On the 11th day of Christmas my tutu gave to me 11 Missionaries,
On the 12th day of Christmas my tutu gave to me 12 televisions, 11 Missionaries, 10 Cans o Bea, 9 pounds of Poi, 8 Ukuleles, 7 Shrimp a swimming, 6 Hula Lessons, 5 Biiiiiig Faat Pigs, 4 Flowa Leis, 3 (pronounced tree)
Dry Squid, 2 Coconuts, an 1 Mynah Bird in 1 Papaya Tree.
|
Mokulele Airlines
will continue to service HANA through January 31st when Makani Kai will take over. Mokulele has been operating at Hana with the help of an annual subsidy from the federal government; Makani Kai plans to operate without one.
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.
Hawaiian Airlines is now 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. Hawaiian also recently launched 4 weekly flights between Fukuoka and Honolulu.
TOURISM
Both visitor spending and arrivals went up slightly in October when compared to the same time last year. According to the Hawaii Tourism Authority, visitors to the Hawaiian islands spent a total of $1.33 billion last month, marking a 0.9% increase from the same time last year.
The total number of visitor arrivals to the Islands increased by 4.8% in October, with 800,488 visitors, which was boosted by a 5.2% increase in arrivals from air service and was enough to offset the 8.3% decline in visitors who came by cruise ship.
Total visitor days also increased 3.4%, with an average of 216,955 visitors in the islands on any given day in October.
Listen, if you have friends or family coming for a visit, don't let them get stuck with the high cost of staying in a hotel. 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!
Now, if you own a property that you'd like to make income on when you're not using it, do what I do and check out
MBR
. They take all the hassle out of it for you like taking care of the taxes so you don't have to worry.
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.
|
Dean Rathbun
of
Avis Mortgage
reminds us that the Federal Reserve cut its benchmark rate for the third time just last month. Overall, mortgage rates have remained steady, and are down more than 1% from the same time last year. According to Freddie Mac's chief economist, home buyer demand continues to improve, rising 8%. Clearly, home buyers remain bullish on the real estate market. And they go on to expect the housing market to continue gathering strength in the new year. Freddie Mac predicts 2019 to wrap up with 6 million home sales for the year and 6.1 million in 2020.
There's also been a surge in refinancing activity as mortgage rates remain low. They predict a growth of $846 billion this year in refinance mortgage originations, and then taper slightly to $834 billion in 2020.
And just a short note on FHA loan limits: The FHA will be increasing its loan limit for most of the country in 2020. The new loan limit will be $331,760 - a $17,000 increase from 2019's loan limit.
|
to send their sincerest wishes for a Happy Holiday to you and yours.
|
Every Monday: Maui Cruise n' Crafts Fair Maui Mall 10-3
Every Sunday: Maui Gift & Craft Fair Lahaina Gateway Center 9-2
Every Sunday: Maui Sunday Market 4-8 pm
Kahului
Every Sunday thru Dec: Lahaina Arts Festival Cannery Mall
2020
1/18: Fit 4 Dogs Festival Queen Kaahumanu Center 9:30-1 pm
1/19: Maui Oceanfront Marathon
info
Maui Arts & Cultural Center tickets
12/15: Maui Pops Orchestra HOLIDAY POPS
12/20: The Kingston Trio concert
12/20-21: The Nutcracker
12/27: Solo Sessions: Steve Earle
12/28: JP Sears A Night of Conscious Comedy
12/28: WAR in concert
12/29: Tom Segura Comedy Special
12/30: 9th Annual Bill Maher New Years Comedy - with Sarah Silverman & Bobby Slayton
2020
1/02: Tommy Emmanuel guitar
1/03: Old Dominion country
1/04: Willie K & Friends Blue fest
1/12: Ke'ala'lliahi 15 years of hula
1/16: Camerata RCO ensemble of Amsterdam Orchestra
1/23: Aspen Santa Fe Ballet
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
11/29-12/15: Roald Dahl's Matilda the Musical
12/21-22: Maui Chamber Orchestra Holiday Concert
2020
1/04: Pauly Shore
1/10-11: Onstage Dance Company
1/23-26: Maui Fringe Theater Festival 2020
2/28-3/15: A Chorus Line
4/24-5/10: Cat on a Hot Tin Roof
7/10-8/2: Priscilla Queen of the Desert musical
12/19-22: The Reluctant Elf
I can't even tell you how busy the Island is now - aah Christmas in the Islands. Believe me when I tell you that after being on Maui they don't want to go back home to shovel snow. And many of those folks will be wishing they
could have a piece of paradise of their very own.
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 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.
Next month's update will have all my usual things, plus a complete wrap up of our real estate market for 2019.
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 ...
Alex, Leslee, and John
|
|
|
|
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
|
|
Berkshire Hathaway
HomeServices
Maui Properties 
Copyright 2017. All Rights Reserved.
|
|
|
|
|
|
