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Honua Kai
Thanksgiving 2019
Hau'oli La Ho'omaika'i
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 Long before the Puritans went sailing to Plymouth Rock, "Makahiki" was a Hawaiian harvest celebration that ran from November thru February. Fast forward to 1849. In an effort to strengthen relations between Hawaii and America, King Kamehameha III declared December 31st a national holiday of Thanksgiving. Why not November? Well, Hawaii already had a holiday called La Kuokoa at the end of the month. So even with a different date, Thanksgiving became official in Hawaii 14 years before President Abraham Lincoln declared it the national holiday it is now.
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Aloha Honua Kai Owners,
 Traveling over the Thanksgiving holiday? You're not alone. According to AAA you'll be joining 55 million Americans. Interestingly enough, according to that same report Maui was listed among the top US Thanksgiving destinations! * If you happen to be going through the Kahului Airport southern terminal, you might not find a place to sit and
l-o-n-g lines for the restrooms. And while this news might not help you for your current holiday travels, there are plans to spend $36 million to enclose the open air southern concourse and add 400 more seats and extra bathrooms.
Has it been a while since you rode a bike? Could you use a little push ... a little oomph? Now, don't get upset ... I fall into the category too. Well now if the desire moves us, we'll be able to bike around Haleakala National Park too - with an assist from the newly allowed e-bikes. An e-bike refers to a 2 or 3 wheeled cycle with a battery powered "assist". This does not apply to electric mopeds, scooters or motorcycles.
Thousands of vehicle owners across the state might want to check their mailboxes for a "driving report" study. It's all about a proposed road usage charge. The state is looking into charging an undetermined fee per mile to replace the current 16-cents per gallon fuel tax. As vehicles have become more fuel efficient, the gas tax has become less profitable.
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Sales of resort homes in Hawaii are forecast to increase by 5% this year, despite fewer sales in the first half of the year. Among the Islands, Maui had the most sales in 2018, but Kauai is poised to take over that spot this year predicting 572 resort sales. Maui is forecast to be second with 518 sales.
And what's going on with hotels? While hotel demand is dropping on every other major Hawaiian island, Maui demand is fueling a wild development cycle that could add 10 or more new hotels. Some of the development is going into traditional markets like Wailea, where 3 hotel projects are planned, and Kihei, where there are also 3 in the works. Maui's hotel market is so hot that even Kahului - an ancillary market - could see 3 projects move forward. And there's talk of at least one, maybe two hotels going up in small-town Wailuku.
Looking only at Maui sales, there were 104 single-family homes sold last month, an 18.2% increase from 88 sold in October 2018. The median price of those homes was $732,000, a 5.5% decline from $774,223 in October 2018. The median price of a condo on Maui in October increased 3.2% to $515,800 from $500,000. That number was based on sales of 132 units, 1.5% fewer than the 134 units sold in October last year.
Taking a look at year-to-date figures, the median price of single-family homes through the end of October was $745,000 an increase of 5.7% from $705,000. The number of homes sold in the first 10 months of the year was 2.1% lower. Year-to-date figures on condos, saw a 3.8% increase in median price of $518,000 from $499,000 in the first 10 months of 2018. Condo sales declined by 5.3%.
Now l
et's take a look at Honua Kai
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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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KONEA
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|
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|
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Active
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721
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0
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1
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1,250,000
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|
|
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Active
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224
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1
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1
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899,000
|
|
|
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Active
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NR 722
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1
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1
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920,000
|
|
|
|
Active
|
NR332
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2
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2
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1,199,000
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|
|
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Active
|
620
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2
|
2
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1,665,000
|
|
|
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Active
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NR 239
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2
|
2
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1,899,000
|
|
|
|
Active
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NR 201
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2
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2.5
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3,199,000
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|
|
|
|
|
|
|
|
|
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Escrow
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NR 522
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1
|
1
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799,000
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|
|
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Escrow
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210
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1
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1
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909,000
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|
|
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Escrow
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NR 340
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1
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1
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1,080,000
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|
|
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Escrow
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NR 812
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2
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2
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1,369,900
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|
|
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Escrow
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NR 839
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2
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2
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2,299,000
|
|
|
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Escrow
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NR 926
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2
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2
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1,495,000
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|
|
|
|
|
|
|
|
|
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Sold
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NR 221
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0
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1
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899,000
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865,000
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06/21/19
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Sold
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NR 146
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1
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1
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999,000
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935,000
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10/28/19
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Sold
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306
|
2
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2
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1,075,000
|
1,065,000
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01/14/19
|
|
Sold
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512
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1
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1
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1,129,000
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1,060,000
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04/12/19
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|
Sold
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NR 320
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2
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2
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1,150,000
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1,118,000
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05/03/19
|
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Sold
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204
|
2
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2
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1,325,000
|
1,300,000
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04/23/19
|
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Sold
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543
|
2
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2
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1,740,000
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1,700,000
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09/17/19
|
|
Sold
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401
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2
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2.5
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3,300,000
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3,300,000
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07/31/19
|
|
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|
|
|
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HOKU LANI
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|
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|
|
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|
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Active
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SR 933
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0
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1
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1,300,000
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|
|
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Active
|
530
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1
|
1
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865,000
|
|
|
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Active
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SR 834
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2
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2
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1,295,000
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|
|
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Active
|
SR 415
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2
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2
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2,100,000
|
|
|
|
|
|
|
|
|
|
|
Escrow
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SR 732
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1
|
1
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809,900
|
|
|
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Escrow
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606
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2
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2
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1,735,000
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|
|
|
Escrow
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SR 404
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3
|
3
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2,799,000
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|
|
|
Escrow
|
SR 151
|
3
|
3
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3,390,000
|
|
|
|
|
|
|
|
|
|
|
Sold
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SR 419
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0
|
1
|
969,000
|
957,000
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07/05/19
|
|
Sold
|
828
|
1
|
1
|
774,000
|
774,000
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01/14/19
|
|
Sold
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SR 824
|
1
|
1
|
839,000
|
775,000
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10/24/19
|
|
Sold
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SR 608
|
1
|
1
|
895,000
|
886,000
|
05/20/19
|
|
Sold
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SR 218
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1
|
1
|
898,000
|
850,000
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09/19/19
|
|
Sold
|
140
|
1
|
1
|
899,000
|
860,000
|
05/24/19
|
|
Sold
|
816
|
1
|
1
|
930,000
|
930,000
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03/12/19
|
|
Sold
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SR 744
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1
|
1
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999,000
|
994,000
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03/25/19
|
|
Sold
|
222
|
2
|
2
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1,049,000
|
1,030,000
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05/30/19
|
|
Sold
|
420
|
2
|
2
|
1,150,000
|
1,040,000
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01/04/19
|
|
Sold
|
622
|
2
|
2
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1,179,000
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1,165,000
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05/22/19
|
|
Sold
|
736
|
2
|
2
|
1,375,000
|
1,375,000
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02/15/19
|
|
Sold
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SR 1034
|
2
|
2
|
1,395,000
|
1,250,000
|
07/17/19
|
|
Sold
|
146
|
2
|
2
|
1,595,000
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1,450,000
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03/18/19
|
|
Sold
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SR 348
|
2
|
2
|
1,619,999
|
1,500,000
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08/09/19
|
|
Sold
|
SR 548
|
2
|
2
|
1,699,000
|
1,640,000
|
09/20/19
|
|
Sold
|
SR 505
|
2
|
2
|
1,749,000
|
1,749,000
|
05/01/19
|
|
Sold
|
SR 209
|
2
|
2
|
2,095,000
|
1,950,000
|
10/04/19
|
|
Sold
|
441
|
2
|
2
|
2,200,000
|
2,000,000
|
01/11/19
|
|
Sold
|
SR 325
|
3
|
3
|
2,550,000
|
2,395,000
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05/22/19
|
|
|
|
|
|
|
|
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Luana Gardens
|
|
|
|
|
|
|
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Active
|
10D
|
3
|
3
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2,275,000
|
|
|
|
Active
|
10C
|
3
|
3
|
2,295,000
|
|
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Figures from Realtors Association of Maui
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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 earlier this month.
Hawaiian Airlines is not 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. This Tuesday they will also launch 4 weekly flights between Fukuoka and Honolulu.
TOURISM
 Visitors to Hawaii spent a total of $13.35 billion in the first 3 quarters of this year ... about the same as last year. However, on Maui both visitor spending (+0.8% to $3.85 billion) and visitor arrivals (+4.7% to 2,321,871) increased compared to a year ago. * The supply, demand and occupancy rate of vacation rental units throughout the state were all up year-over-year in September compared to the same period last year. Maui recorded the highest number of vacation rental units, with supply up 24% to nearly 313,000 units. Demand was also up 33% to more than 226,000 for an occupancy rate of 72%. * And speaking of vacation rentals, Airbnb reached an agreement to share thousands of Hawaii host records with the state. With that data, the state aims to collect taxes from vacation rental operators who it says have not been paying taxes.
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.
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Dean Rathbun
of
Avis Mortgage
says interest rates are on hold for now - Federal Reserve officials have indicated as much and the market believes it - but the state of affairs could be fleeting amid an ever-changing set of economic conditions. Pretty much everyone is convinced the Fed is finished for 2019, a year in which it cut its benchmark rate three times. what happens in 2020, is open to wide interpretation. Several Wall Street experts think the central bank will have to cut at least once more in 2020, with some expecting as many as 3 quarter-point reductions.
Mortgage applications are at their highest since late September. The refinance index is 188% higher than this same period one year ago. And I don't have to tell you about the mortgage rates - they are really low.
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MAUI HAPPENINGS
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Banyan Tree Lighting |
Every Sunday: Maui Gift & Craft Fair Lahaina Gateway Center 9-2
Every Monday: Maui Cruise n' Crafts Fair Maui Mall 10-3
Every Sunday thru Dec: Lahaina Arts Festival Cannery Mall
11/25-27: Maui Invitational Basketball Championships
info
11/28:
Happy Thanksgiving!
Maui Arts & Cultural Center tickets
11/25: SUP Film Fest - World Tour
11/29-30 & 12/01: Eric Gilliom - One Man Show
12/01: Maui Choral Arts holiday music
12/02: An EnCHANTing Evening of Kirtan
12/07: Miranda Lambert in concert
12/10: Na Mele O Maui children's song & art
12/13: Rebelution reggae band
12/14: Ron Artis II & the Truth heart & soul music
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
11/29-12/15: Roald Dahl's Matilda the Musical
12/21-22: Maui Chamber Orchestra Holiday Concert
01/04/20: Pauly Shore
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
***
Holiday Festivities
*
*
*
11/30, 12/7, 12/14: Volunteer to assemble bikes for needy Maui children, tools provided
Krank Cycles at the old Lowes building, 270 Dairy Rd 9am-2pm
12/04: Hui Holidays 1st Night Celebration
info
GRAND WAILEA:
12/1: Tree Lighting Ceremony 5-7pm
12/14: Breakfast with Santa 7-10:30am
12/22-30: Hanukka at Sunset Lobby Menorah
12/24: Santa Arrives by outrigger canoe 9-11am
LAHAINA CHRISTMAS FESTIVITIES 12/7
Campbell Park
Maui Made Holiday Gift Fair 9am
Santa Arrives at 2pm
Free kid photos with Santa 2-4pm
Kid Activities noon - 4pm
22nd Annual Lighting of the Lahaina Banyan Tree 6:30pm
FAIRMONT KEA LANI WAILEA
12/22-30: Hanukkah hotel lobby
12/24: Santa arrives via outrigger canoe Noon-1pm Polo Beach
You read above how Maui is one of the top destinations in America during Thanksgiving. Well, that holds true through Christmas too! The Island will be swarming with folks who do not want to go back home. They just wish 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. I'm available to you 7 days a week.
Happy Thanksgiving,
John
Broker/Owner
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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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