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Royal Kahana Update
September 2019
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Aloha Fellow Royal Kahana Owners,
 The pictures of the Shaka sign above and the hula girls to the left are symbols of our latest accolade. Hawaii was named the "Happiest State in America" for the 2nd year in a row. It's also our 5th time in at least the top 10 on the list. Wallethub, who conducted the report, also noted that Hawaii came in dead last in only 1 category - adequate sleep. I'd try to explain that rating , but I'm just too tired. * Can't believe Autumn actually started this week. According to the National Weather Service, Hawaii's broken 68 summer temperature records, and tied another 74!
 So I've come across a couple of things you might want to check out. I know a lot of people take helicopter tours when they come to Maui. But if you'd like to check flying a helicopter off your bucket list, here's the place you can do it, no experience necessary. Go Fly Maui offers "Discovery" tours where they'll put you through your paces on the ground, then take you up where you get to take the controls at times and turn it into a flightseeing tour instead of a regular sightseeing tour. * Now if you're a foodie, I have a couple of ideas for you: Bon Appetit Magazine just released their list of America's Best New Restaurants 2019. Lineage in Wailea, created by Sheldon Simeon of Top Chef Fame, made that list. If you're looking for a different experience, check out the Grand Wailea signature restaurant "Humuhumu". It's a floating restaurant, under award-winning chef Alvin Savella - the "Kitchen Assasin".
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The median price of a single-family home on Maui reached a new record of $837,500 last month, as unit sales of single-family homes declined by 10%. There were 98 single-family homes sold in August, which was 10.1% fewer than the 109 homes sold in August 2018. However, the median price of $837,500 was a 19.6% increase from the $700,000 in August of last year. * The median price of a condo on Maui declined 0.6% to $496,950 in August, from $500,000 during the same month last year. The number of sales declined 21.5% to 117 units, from 149 sold in August 2018.
Looking at activity for the first 8 months of the year, the number of single-family homes was 722, 9.8% fewer than 800 sold during the same period last year. The median price of those homes was $755,000 - an increase of 7.9% from $700,000 last year. * Looking at condominium activity for the first 8 months of the year, the number of units sold declined by 6% to 1,088 units sold this year compared to 1,158 sold in the first 8 months of last year. However, the price of those units increase by 3.5% from $497,500 last year to $515,000 this year.
Now l
et's take a look at
Royal Kahana
:
|
Status
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Unit
|
Bd
|
Ba
|
List $
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LT
|
Sold $
|
Close
|
|
Active
|
903
|
0
|
1
|
369,500
|
|
|
|
|
Active
|
308
|
1
|
1
|
370,000
|
LH
|
|
|
|
Active
|
107
|
1
|
1
|
479,000
|
|
|
|
|
Active
|
108
|
1
|
1
|
485,000
|
|
|
|
|
Active
|
514
|
1
|
1
|
499,000
|
|
|
|
|
Active
|
720
|
2
|
2
|
750,000
|
|
|
|
|
Active
|
410
|
2
|
2.5
|
1,100,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Escrow
|
703
|
0
|
1
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365,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Sold
|
217
|
0
|
1
|
299,000
|
|
285,000
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5/31/2019
|
|
Sold
|
605
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0
|
1
|
327,500
|
|
300,000
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3/8/2019
|
|
Sold
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1119
|
0
|
1
|
335,000
|
|
320,000
|
5/6/2019
|
|
Sold
|
802
|
0
|
1
|
357,500
|
|
335,000
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6/26/2019
|
|
Sold
|
702
|
0
|
1
|
335,000
|
|
325,000
|
1/11/2019
|
|
Sold
|
114
|
1
|
1
|
395,500
|
|
375,000
|
2/28/2019
|
|
Sold
|
709
|
1
|
1
|
500,000
|
|
475,000
|
3/15/2019
|
|
Sold
|
120
|
2
|
2
|
430,000
|
|
431,000
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4/2/2019
|
|
Sold
|
901
|
2
|
2
|
475,000
|
|
443,000
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3/12/2019
|
|
Sold
|
101
|
2
|
2
|
475,000
|
|
460,000
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5/23/2019
|
|
Sold
|
720
|
2
|
2
|
475,000
|
|
470,000
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6/3/2019
|
|
Sold
|
920
|
2
|
2
|
525,000
|
|
485,000
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7/1/2019
|
|
Sold
|
1020
|
2
|
2
|
549,000
|
|
520,000
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7/17/2019
|
|
Sold
|
1120
|
2
|
2
|
569,000
|
|
540,000
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9/12/2019
|
|
Sold
|
511
|
2
|
2.5
|
795,000
|
|
828,000
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8/20/2019
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Figures from Realtors Association of Maui
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Royal Kahana STUDIO
Unit 703
$365,000
The lowest priced vacation-rental studio in West Maui! Enjoy views of the ocean and the island of Molokai. This fully-furnished turnkey unit is in the desirable "3" stack at the Royal Kahana. Recent upgrades include tile flooring, granite countertops, and a walk-in tile shower. Enjoy the convenience of a washer dryer, storage closet, central air conditioning and floor to ceiling sliding doors to your private lanai. The amenities at the Royal Kahana include a business center, shuffleboard, heated pool, BBQs, fitness room and activity desk. Resort living at a fraction of the cost with the option of rental revenue from this heavily booked vacation rental.
(click the pictures for more information)
Royal Kahana STUDIO
Unit 903
$369,500
Premium Studio 903 at Royal Kahana Resort faces north to the Pacific Ocean from the preferred '03' stack. Upgraded with a great Hawaiian setting. Views of Molokai and the beach from your private lanai.
(click on pictures for more information)
Best Value. Upgraded 1-bedroom on the 5th floor at the Royal Kahana. There are sweeping West and South views with the island of Lanai in the background. Relax on the covered lanai and watch the waves below and the whales out at sea. The kitchen features upgraded appliances, custom cabinetry and custom flooring throughout. Sliding glass doors from both the living room and master bedroom open to an Ocean View Lanai. The bathroom features a beautiful rock vessel sink, stone tile tub/shower surround and upgraded fixtures and cabinetry. The A/C unit was also replaced. The property is in the front desk rental program.
(click on pictures for more information)
$485,000
Open and airy ground floor 1 bedroom unit facing northwest towards Molokai with stunning views of the blue Pacific. Just steps from the water .
(click on pictures for more information)
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 Hawaiian Airlines
saw a 4% increase last month compared to August 2018, when it carried more than one million passengers! And for those of you who love Hawaii's 9th island (Las Vegas), Hawaiian is going to make things a little easier for you. Beginning December 15th Hawaiian will begin 4 times a week service ... just in time for the holidays. And if your travels are taking you farther East, Hawaiian Airlines will begin nonstop service between Honolulu and Fukuoka, Japan November 26th with 4 weekly flights. This new connection marks continued expansion for Hawaiian's Japan service, which includes 31 weekly nonstop flights between Hawaii and Japan. Routes include connections to Osaka, Sapporo, and Tokyo's Haneda and Narita airports.
Alaska Airlines is increasing its flights to popular sun spots this winter to provide rain-addled folks from the Pacific Northwest with more options to Hawaii. Alaska will add a third daily flight between Seattle and Maui starting November 21st. That's in addition to a recently added third daily flight between Seattle and Honolulu. A little side note, Alaska Airlines has launched a new initiative ... #FillBeforeYouFly ... encouraging passengers to fill their own water bottles up before boarding. All part of the airline's effort to reduce its in-flight waste by 70% by 2020.
TOURISM
The number of guests staying at hotels across the state increased last month compared to August of last year. Occupancy was up 5.5% to more than 84%. * The Hawaii Tourism Authority and Hawaii Visitors and Convention Bureau have begun rolling out a statewide video campaign aimed at educating visitors to our islands. The short videos are called the "Kuleana Campaign", and cover topics like outdoor safety, ocean conservation, and cultural concerns. Shown in hotels and airlines, they'll also appear on Instagram and Facebook. It'll include things like using reef-safe sunscreen, and researching potential vacation rentals to ensure they're legal.
And speaking of illegal vacation rentals, the Maui County Planning and Sustainable land Use Committee voted unanimously to recommend approval of a bill that would increase the initial civil fine from the current $1,000 to $20,000, and the daily civil fine from the current $1,000 to $10,000 for unpermitted bed-and-breakfasts, and short-term rentals.
On the other hand, the owners of legit 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 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.
GREEN
Solar is great! But there are a lot of folks who don't own their roof ... like renters and apartment dwellers. Well Hawaiian Electric has begun phase 1 of a community solar program broken down by approved solar PV megawatt capacity by island. Maui is approved for 1MW capacity at $0.165 per kWh. Small companies and nonprofits are moving into Phase 1 now. But hopefully be next year residents will be able to subscribe. * Maui Electric is taking over 4 electric vehicle charging stations that were previously located at the Queen Kaahumanu Center, Piilani Village Shopping Center, Lahaina Aquatic Center, and Pukalani Terrace. They will offer plans to lower the charging rate, and incentivize driver to charge during the daylight hours when solar energy is abundant. * And last but not least, Hawaii is introducing a new form of concrete that reduces greenhouse gas emissions! Concrete is the second-most used material on the planet after water. The new material is "carbon-sequestering concrete", carbon-injected concrete or carbon dioxide mineralized concrete. Whatever you call it, this CO2 mineralization takes waste carbon dioxide from say a gas company or power plant, injects it into a concrete mix ... badda-bing, badda-boom, and you've got a product stronger than concrete that gets rid of what would otherwise be pollution and turn it into a mineral permanently embedded in concrete! Okay, it's a little more complicated than that ... but it's happening right here on Maui with CarbonCure, Island Ready-Mix, and HC&D. CarbonCure will be working with Oahu concrete producers next.
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Dean Rathbun
of
Avis Mortgage
has a couple of mortgage notes to share with you this month. First, The Federal Reserve cut interest rates by a quarter of a percentage point last week, its second move since late July. The vote was 7-3 in favor of the move, with the majority of dissenters demonstrating a more hawkish bias. Kansas Fed President Esther George and Boston Fed President Eric Rosengren favored leaving rates unchanged. St. Louis President James Bullard favored cutting rates more deeply by 50 basis points. While the median Fed official expects rates to stay at the current level through the end of this year, 7 of 17 expect another rate cut - compared with zero in June. That suggests momentum is shifting toward additional accommodation before the end of the year.
Dean also wanted to bring to your attention a plan that the Trump administration unveiled this month to end federal control of two mortgage giants (Fannie Mae and Freddie Mac), that had been bailed out by taxpayers during the 2008 financial crisis and return them to the private sector. The latest plan, put forth by the Treasury and Housing and Urban Development departments, includes recommendations meant to limit the federal government's role in the mortgage market and inject more private competition, which they say will bring down mortgage rates. Officials say it would promote affordable housing and protect taxpayers from bailing out Fannie and Freddie in the event of another housing crash.
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MAUI HAPPENINGS
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Kris Kristofferson |
Every Sunday: Maui Gift & Craft Fair Lahaina Gateway Center 9-2
Every Monday: Maui Cruise n' Crafts Fair Maui Mall 10-3
10/3-6: 97th Annual Maui Fair
info
10/12: 24th Annual Maui Wedding Expo
schedule
10/12: Aloha Maui Pride Festival
events
10/12: 2019 Maui Fil-Am Heritage Festival 10-3 Queen Kaahumanu Center
10/13: Maui Marathon, Half, and Relay
info
10/19: Hope Fest Maui for the American Cancer Society
details
10/19: Annual Chili Festival
info
10/26: 2019 Walk to End Alzheimer's
schedule
10/27: Xterra World Championship
details
10/31: Lahaina Halloween (more details next month)
10/18: Roys 22nd Annual Golf Classic
10/19: Wicked Cocktails, Wicked Plates
10/20: Keiki in the Kitchen
10/20: Pasta la Vista
Maui Arts & Cultural Center
tickets
10/05: "One Little Finger" concert & film
10/06: Richard Thompson Electric Trio
10/10: Christian Sands Trio
10/10: Artist to Artist: Henry Kapono & Jerry Santos
10/12: R. Carlos Nakai Quartet
10/12: MAMo Wearable Art Show
10/13: Pualani Kanaka'ole-Kanahele in the Green Room
10/16-17: Art & Activism
10/18: Starry Night Cinema "Aladdin"
10/19: Kris Kristofferson & The Strangers in concert
10/20: Trio con Brio Copenhagen
10/25: Okaidja Afroso West African music Dance Floor
9/13-29: Strangers On A Train
It's evident that more and more visitors continue to flock to Maui. While they're here they inevitably fall in love with it. I can't tell you how many of those visitors end up wanting to own a piece of paradise themselves. One they know they can keep coming back to. That's where I come in.
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. Conversely, if you're looking to add to your real estate portfolio while the rates are low, 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. I'm available to you 7 days a week.
I 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.
John
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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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