Kaanapali Golf Estates Update
August 2019
LOCAL MAUI NEWS
Aloha Fellow Kaanapali Golf Estate Owners,  

Even though you can't tell by the hot temperatures, summer is coming to an end next month.  That means all things pumpkin-spice will be coming in the fall.  But the most surprising entry comes from Hawaii's favorite SPAM. Spam will add it to their 15 flavors on September 23rd. (click)

 Maui real estate just hit a record high.  A gated beachfront estate in Makena just sold to undisclosed buyer for $14 million, the highest price so far this year for a single-family home on Maui.

The number of passenger electric vehicles in the state is just a few hundred shy of reaching a milestone.  Last month, the number of passenger EV's in the state was at 9,699 up 29.4% from the same month last year, and 2.6% from June 2019.  Last month's total is just 301 shy of reaching 10,000.  To ease the process of buying an EV in Hawaii, a new website HawaiiEVexperts.org has been launched.

New traffic cameras have been installed at 10 key intersections on Maui.  The Transportation Dept. says the cameras are not for traffic violations.  You'll be able to view them in a couple of weeks at GoAkamai.org. Up to the minute traffic mapping features on Maui will be available at that same website by the end of the year.
        CURRENT MARKET ANALYSIS
                     
Home prices on Maui rose in July compared to a year ago but the number of homes sold went down year over year.  There were 84 single-family homes sold on Maui last month, which was 26.3% less than the 114 homes that sold in July 2018.  The median price of those homes was $794,500, which was an increase of 3.9% from the median price last year of $764,500.

The number of condominiums sold rose by 15% last month, but prices were down slightly.  The median price of a condominium on Maui in July was $493,000, a decrease of 3.9% from $513,163 in July 2018.  But the number of sales increased 15.2% to 159 units, from 138 units sold in June 2018.

Now l et's take a look at the Kaanapali Golf Estates :

VACANT LAND

Status
Address
List $
Sq Ft
Sold $
Close
GENERAL
no listings
KAHUA KAI
no listings
SUMMIT
Active
195 Welau Way
375,000
10,790
Active
411 Wekiu Pl
419,000
11,112
Escrow
165 Welau Way
395,000
10,574
Escrow
166 Welau Way
599,000
12,867
PINNACLE
Active
45 E. Mahi Pua Pl
625,900
19,651
LANIKEHA
Active
70 Lewa lani Pl
375,000
11,800
Active
647 Anapuni Lp
399,500
12,081
Active
627 Anapuni Lp
410,000
12,117
Active
607 Anapuni Lp
420,000
12,630
Active
50 Lewa Lani Pl
425,000
10,907
Active
704 Anapuni Lp
439,000
11,927
Active
995 Anapuni Pl
460,000
20,299
Active
27 Kaulele Pl
475,000
12,071
Active
65 Lolii Pl
550,000
20,617
Active
110 Lewa Lani Pl
550,000
13,072
Active
447 Anapuni Lp
550,000
30,880
Active
167 Anapuni Lp
575,000
21,780
Active
85 Lolii Pl
585,000
20,617
Active
1015 Anapuni Pl
585,000
20,826
Active
955 Anapuni Pl
639,000
20,611
Active
377 Anapuni Lp
675,000
21,192
Active
484 Anapuni Lp
785,000
41,048
Active
25 Lolii Pl
849,000
20,219
Active
584 Anapuni Lp
875,000
54,280
Active
344 Anapuni Lp
875,000
56,192
Active
564 Anapuni Lp
895,000
43,643
Active
224 Anapuni Lp
995,000
40,816
Active
304 Anapuni Lp
995,000
40,554
Active
184 Anapuni Lp
995,000
43,342
Escrow *
444 Anapuni Lp
749,000
41,166
Sold
45 Lolii Pl
425,000
20,417
400,000
06/28/19
Sold
68 Keahilili Pl
435,000
26,266
435,000
08/08/19
Sold
404 Anapuni Lp
715,000
40,862
695,000
02/22/19
* Escrow cancelling
 
        
RESIDENTIAL

Status
Address
List $
Bd
Ba
Sold $
Close
Active
318 Aalii Way
2,100,000
3
2.5
Active
324 Aalii Way
2,225,000
3
3.5
Active
229 Amakihi Way
1,690,000
4
4
Active
365 Kului Way
1,999,000
4
3.5
Active
300 Aalii Way
2,290,000
4
3.5
Active
180 Kalaihi Pl
2,595,000
4
4
Active
320 S Ulukoa Pl
3,195,000
4
4.5
Escrow
361 Aalii Way
1,539,800
4
4
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
Active
50 Kahua Kai Pl
3,495,000
3
4
Sold
18 Kahua Kai Way
3,299,000
3
3.5
3,100,000
06/26/19
SUMMIT
Active
211 Wahi Oli Way
1,550,000
3
3
Active
215 Wahi Oli Way
1,795,000
3
3
Active
407 Wekiu Pl
2,495,000
3
4
Sold
211 Welau Way
2,395,000
3
3.5
2,200,000
04/15/19
PINNACLE
Active
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
2,099,000
3
3
Active
30 Lewa Lani Pl
2,100,000
3
3.5
Active
970 Anapuni Pl
3,500,000
4
3.5
Active
297 Anapuni Lp
3,995,000
4
4.5
Active
784 Anapuni Lp
3,595,000
4
3.5
Active
49 Keahilele Pl
3,987,000
4
3.5
Active
227 Anapuni Lp
3,995,000
4
4.5
Active
204 Anapuni Lp
4,600,000
4
4.5
Escrow
577 Anapuni Lp
2,600,000
3
3.5
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
1,099,000
Active
61
2
2.5
1,125,000
Active
19
3
2.5
1,150,000
Active
28
3
3
1,446,000
Active
29
3
3
1,449,999
Escrow
141
3
2.5
995,000
Escrow
21
3
2.5
999,999
Escrow
130
3
2.5
1,200,000
Sold
124
3
2.5
1,300,000
1,200,000
04/18/19
Sold
139
3
2.5
1,325,000
1,325,000
06/05/19

Figures from Realtors Association of Maui
FEATURED LISTINGS

The Summit
Vacant Lot   IN ESCROW
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)


           


324 Aalii Way
3 Bedroom   3.5 Bath
   $2,225,000

324 Aalii Way is located behind the gates of the highly sought after Kaanapali Golf Estates.  Year round ocean, sunset, and outer island views can be enjoyed at this nearly 5,000 sf estate,  The main living area allows for single level living with the master bedroom, kitchen, living and dining rooms, pantry, and laundry all on the same floor.  An elegant curved stairway takes you down to a family room, second master, and guest bedrooms.  The downstairs provides direct access to the outdoor covered lanais, waterfalls, pool, raised hot tub, and seated grotto. 

(click on pictures for more information)

           

           

 


The Summit
215 Wahi Oli Way
Single Level   3 Bedroom 
  $1,795,000
 
215 Wahi Oli Place is located behind the double gates of the Kaanapali Golf Estates and The Summit.  This home boasts direct west views to Molokai and Lanai with year round sunsets and winter whale watching.  Lot 17 is a single level home with two master suites and a third guest bedroom.  Experience ocean and island views from the formal master bedroom, living room, dining room, and kitchen.  The home features a pool, spa, outdoor kitchen with direct gas, bonus workout room, Subzero stainless steel appliances with gas stove, refrigerator drawers, Subzero wine cooler and much more.  Surrounded by grass lawns and resort style landscaping, Summit 17 feels bright and inviting.  Homes in The Summit Phase I are rarely available and the association dues cover the exterior paint and pressure washing, roof, all landscaping, insurance, pest control, and pool and spa maintenance.  Secure, safe and located in the Kaanapali Resort, The Summit is a short golf cart ride to all that Kaanapali has to offer.  Home is being sold fully furnished.

(click on pictures for more information)

              

                


      TRAVEL
Delta Airlines   is going to scrap operations at Tokyo Narita Airport in order to establish a stronger presence in Haneda.  Haneda sits closer to Tokyo's city center, and Delta wants to be in play in time for the 2020 Tokyo Olympics.  *    Hawaiian Airlines  wants a bigger presence in Tokyo Haneda Airport. They will add one additional daily nonstop between Hawaii and Haneda next summer.  The new route will add to Hawaiian's current total of 31 weekly nonstop flights between Hawaii and Japan.  The airline is also set to launch 4 weekly flights between Fukuoka and Honolulu in November.  * Air China will no longer fly between Beijing and Hawaii as of next Tuesday.  Part of the trade wars?  No, Hawaiian Airlines pulled out of that market last year, and Air China can't fill their planes either.  

Hawaiian Airlines is going to make traveling to our "unofficial 9th Island" Las Vegas a little easier.  The new 4 times a week Vegas/Maui flights will begin December 15th and run through February 12, 2020.  Just in time for the holidays.  Hawaiian Air is also adding a new 3 times a week service between Honolulu and Seattle-Tacoma Airport Starting January 7th.  Their seasonal winter service between Maui and Los Angeles will start December 14th and run through January 5, 2020.

Southwest Airlines is adding more routes to Hawaii.  New service between Sacramento and Honolulu will start January 19, 2020.  New service between Oakland and San Jose to Kauai and Kona will start either January 19 or 21, 2020.  Service from San Diego to Hawaii will be announced at a later date.  *  Texas is jumping into the fray.  Leaders at the Austin-Bergstrom International Airport have developed some "incentive plans" to encourage nonstop service from Austin to Hawaii - as well as international destinations in Ireland, China and South Korea.  The program spells out specific assistance to airlines that offer nonstop service from Austin to any destination in Hawaii at least 12 times a month for a year.

           
 
TOURISM

The number of tourists visiting the islands grew through the first half of the year compared to 2018.  Total visitors increased about 4% - to 5,191,523 - as compared to the same time period last  year along with an increase in arrivals from air service and cruise ships.  If visitor arrivals remain at this pace through the end of the year, Hawaii's visitor arrivals for 2019 will top 10 million - A RECORD!  *  Chinese tourism to Hawaii is on the decline. Is the trade war to blame? Chinese visitor arrivals dropped 25% in the first half of this year.  It was on a downward trend before President Trump's trade war.  Chinese visitors account for less than 2%, but they spend more money per person than visitors from any other region.  The downward trend began to accelerate in 2018, Chinese arrivals to Hawaii peaked in 2015, so it seems unlikely that the 18-month old trade war is entirely to blame.  

Hotel occupancy was up statewide last month compared to the same period last year - with a 1% increase to 85%.  The average daily rate (ADR) also increased by 4% to nearly $305, and revenue per available room (RevPAR) jumped more than 5% to nearly $260.  Again, that was statewide.  MAUI led the pack with ADR at $436 and RevPAR at $359.

Clearly, Maui is attracting lots of visitors who are paying more to stay on Maui than any other island.  Lots of folks who own Maui property enjoy a steady stream of income when they're not using it themselves.  That's what I do.  But not all vacation rental companies are the same.  If you're currently in a vacation rental program, or have been toying with the idea of placing your property in one, do yourself a favor and check out  M aui Beachfront Rentals .    They take all the hassle out of it for you.   And they market the heck out of your place with extra advertising on sites like VRBO, HomeAway, Flip Key and others ... all at no additional cost.
      MORTGAGES
Dean Rathbun  of  Avis Mortgage  wants to remind us that just like today, investors were worried back in 1979 ... it was the war against inflation.  The average inflation rate in the US was 10%. Homebuyers were locking in mortgage rates of 11.1% on 30-year-fixed mortgages and feeling good about it as mortgage rates rose to 18.5% by October 1981.  Today, investors aren't so much worried about inflation.  They're concerned about the US - China trade war, the pace of global economic growth, the influence of monetary policy, negative interest rates ... the list goes on.  But, Don't Panic.  Just use caution.

Right now, the 30-year-fixed-rate mortgage continues to hover near historical lows.  Mortgage demand has reached a three-year high, and there's been a spike in refinancing activity.  Economists at Fannie Mae are forecasting two more quarter-point interest rate cuts by the Federal Reserve this year, expecting that the Fed will move to cut rates in September and again in December.  That could bode well for lowering mortgage rates for the remainder of the year.

A well known online lending service just published the results of a new study they conducted asking the question of how debt - from mortgages to student loans - can possibly influence a person's health and even life expectancy.  Of note, they found that a higher mortgage debt relative to income is linked with a higher life expectancy!  Guess homeownership is a good thing.  Other forms of debt - like auto debt and personal loan debt - did NOT have the same link and actually generally corresponded with lower life expectancies.
MAUI HAPPENINGS    

8/24-25: Emma Sharpe Hula Festival under the Banyan Tree Lahaina 
9/02: Labor Day
9/09: 3rd Annual La Ulu Breadfruit Day Free
9/14: Pailol Challenge 2019 26 mile canoe race
9/14: Chinese Moon Festival Wo Hing Museum Front St, Lahaina  FREE 10am - 4pm  
9/14-15: Festivals of Aloha - Banyan Tree  FREE music, food, activities
9/14: 18th Annual Richard Hoopii Male Hawaiian Falsetto Contest details
9/26-29: 4th Annual Maui Salsa Bachata Congress schedule
9/23: End of Summer
9/28: 3rd Annual Baby Expo 10am - 1pm Queen Kaahumanu Center
  
Aloha Friday Free Movie Night   info  
09/20: Alad din
10/18: Ugly Dolls
11/15: Toy Story 4
12/20: The Lion King

Maui OnStage    Iao Theater    tickets
9/27-13: The Graduate  play

Maui Arts & Cultural Center    tickets
8/24: Beat-Lele   Ukulele tribute to The Beatles
9/06: Starry Night Cinema:  Pokemon Detective Pikachu FREE
9/06: Halemanu  "jazz infused rock & roll with Hawaiian soul"
9/12: Hula Ma'i
9/13: Artist 2 Artist: Henry Kapono & Blayne Asing
9/14: Ku Mai Ka Hula 2019
9/18: Artist Talks: Abigail Romchak on Art & Activism
9/21: ZepMaui X  Rock tribute to Led Zeppelin
9/27-28: The Republik Music Festival Maui   Reggae
9/27: Steel Pulse, Trevor Hall, & the Original Wailers
9/28: Tribal Seeds, Matisyahu, & Groundation
9/28: Ukulele Workshop with Roy Sakuma
9/29: Maui Ukulele Festival

ProArts Playhouse Kihei     tickets
9/13-29: Strangers On A Train

Maui Obon      schedule
8/24: Kula Shofukuji Mission
9/07: Hana Buddhist Temple


As you can see from the numbers above, more and more visitors are coming, many of them wanting to own their own piece of paradise, and available inventory is at an all time low.

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, let us know. (Hey, according to that study it could even extend your life expectancy!)   As owner of Berkshire Hathaway Maui Properties I have over 30 years experience in the Maui market with sales approaching $2 billion!  We a re the  only  Berkshire Hathaway Real Estate Brokerages on Maui. Our offices are located in Lahaina-Kapalua and Wailea-Makena.  We're available to you 7 days a week. 

We hope you're enjoying our monthly updates.  Feel free to share them with your friends and neighbors.  If they like, we'll add them to our update list. Completely private and never any junk mail.

Alex, Leslee, and John
Your Kaanapali Specialists

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