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Paia Gives on December 20th

Saturday December 20th is the annual Paia Gives Event. It is hard to believe this great night of shopping, holiday cheer and philanthropy is in it’s ninth year already. I remember the first one really well. From 4:00-8:00 PM, merchants will be offering holiday sales with many offering refreshments and raffles or a portion of sales to benefit island non-profits. The list below summarizes what’s planned around town.

Paia Gives 2014

Paia Art Galleries

  • Art Project Paia -77 Hana Hwy (214-6949).
    Join Art Project Paia for an an evening of celebration. A portion of the night’s proceeds will benefit Maui Humane Society.
  • Maui Crafts Guild – 120 Hana Hwy (579-9697)
    Each guild artist has contributed to an amazing gift basket. Make a donation and receive a ticket to win! Proceeds benefit East Maui Animal Refuge.
  • Maui Hands – 84 Hana Hwy (579-9245)
    Maui Hands will be raffling off a 19” hammered metal petroglyph turtle by Charles Corda. Tickets will be 5.00 each or 5 for 20.00. All proceeds will go to support La’a Kea Farm. Refreshments served as part of the celebration!

Paia Boutiques

  • Biasa Rose –104 Hana Hwy (579-8602)
    Biasa Rose’s holiday festivities will benefit Maui Humane Society.
  • By the Bay –90 Hana Hwy (579-8340)
    Celebrate with By The Bay! A portion of their proceeds will benefit Maui Humane Society.
  • Lilikoi – 18 Baldwin Ave (579-6055)
    Lilikoi will be donating to the Wings of Aloha program at the Maui Humane Society.
  • Mahina – 23 Baldwin Ave (579-9131)
    Mahina will be raising funds for Women Helping Women! Come out for a great night of shopping and helping stop domestic violence.
  • Moonbow Tropics—36 Baldwin Ave (579-3131)
    Moonbow Tropics will be raising funds for the Boo Boo Zoo
  • Maui Girl Swimwear –12 Baldwin Ave (579-9266)
    Maui Girl Swimwear will be offering 20-50% off the entire store all day
  • Nuage Bleu – 76 Hana Hwy (579-9792)
    Nuage Blue will be giving a raffle ticket for each $5 donation to win one $200 shopping spree or a piece by Hula Hoops Jewelry! All donations benefit their favorite charity, A Keiki’s Dream. Holiday cheer will be served from 4 – 8 pm.
  • Oceania Maui – 120 Hana Hwy, Ste 3 (579-6063)
    Oceania Maui is supporting the Hawaiian Immersion Program at Paia Elementary school with a percentage of every purchase! Join Oceania for the celebration with mimosas!
  • Paia Mercantile –2 Baldwin Ave (579-6388)
    A portion of the day’s sales at Paia Mercantile will benefit the Maui AIDS Foundation.
  • Paia Style –40 Baldwin Ave (575-7327)
    Supporting those in Paia that need it! They will be having a sale with 10% off throughout the entire store.
  • Paia Trading Company – 106 Hana Hwy (579-9472)
    Paia Trading Company will be donating a percentage of sales to the Paia Youth Center.
  • Prospect Paia – 115 Hana Hwy
    Join Prospect Paia for shopping and Holiday refreshments. More importantly they will be giving 20% of their days sales and any donations to Team Trucker. Team Trucker is a campaign to help Trucker Dukes, a little boy from Maui in his fight against an aggressive, late stage cancer.
  • Team Trucker to Support Trucker Dukes Fight Against Cancer

  • Sophia Grace—36 Baldwin Ave (280-3595)
    Sophia Grace will be donating proceeds to benefit the Dukes family to support Trucker.
  • Tamara Catz Hawaii –83 Hana Hwy (579-9184)
    This year their charity is the “Friend’s of the Children’s Justice Center Maui” which is a non-profit organized to help the children of Maui who are effected by abuse or neglect. From now through December 20the, they are accepting donations of new, unwrapped towys for boy or girls at their store to be donated to the Children’s Justice Center. Anyone in the community can drop off toys. On Saturday, December 20th for Paia Gives, they will be donating 10% of all sales to the Center. They will also be serving cider and chocolates.
  • Wings Hawaii –69 Hana Hwy (579-3110)
    Benefiting Maui Humane Society

Wings Hawaii in Paia
The Wings Hawaii Store

Paia Grocery and Wine

  • Mana Foods—49 Baldwin Ave (579-8078)
    For Paia Gives, the Mana Foods bag credit will go to Paia School this month. If a customer brings their own bag they can choose to take $0.05 off their purchase total or donate it to Paia School. Customers can also donate any amount to Paia School at the register when checking out.
  • Wine Corner – 149 Hana Hwy (579-8904)
    The Wine Corner and DaVine Art will be hosting a table in their parking lot for The Paia Youth and Cultural Center. PYCC staff and youth members will sell PYCC hats, cookbooks and other items. They will also hold a raffle for great prize yet to be determined. As part of their tables, Honi Designs Hawaii and Ekahi Sunrise will sell their beautiful jewelry and donate a share of the profits to the PYCC

Paia Home Furnishings

  • Indigo Paia – 149 Hana Hwy (579-9199)
    Raising funds for PYCC’s RadiOpio. Portion of night’s proceeds will benefit Paia Youth and Cultural Center .
  • Pearl –71 Baldwin Ave (579-8899)
    Pearl Butik, along with Maui Children’s Bookstore pop up shop will be donating 10% of the days sales to the La’akea Foundation. Enjoy Pupus,proseco, music and a chance to win a cozy throw. This La’akea Foundation is a residential farm community where youths and adults with intellectual disabilities are part of a thriving community. Pearl will offer extended hours 10-8pm.

Paia Restaurants

  • Flatbread Company, Maui –89 Hana Hwy (579-8989)
    Flarbread will be hosting a special benefit night for Benny, one of Paia’s best friends! Benny has had recent health problems that have left his family struggling to pay all of his medical deals.
  • Paia Gives Benefit for Benny at Flatbread

  • Milagros Paia, Maui –3 Baldwin Ave (579-8755)
    Milagros will be donating a portion of the day’s proceeds to the Duke Family to support Trucker’s fight against cancer.
  • Rock & Brews Restaurant and Pub Paia—120 Hana Hwy (579-9011)
    Rock & Brews will be donating to Toys for Tots as part of their 12 Days of KISS-mad promotion (12/12-12/23). For every toy they receive they will be giving the donator a $5 gift card to use towards a meal at R&B.

Head to Paia on Saturday December 20th, finish some last minute Holiday Shopping, support island non-profits and have some fun!

By » 12/19/2014 » in

Kuau Bayview Late 2014 Market Update

As we approach the end of 2014, we wanted to begin looking at market conditions in a variety of neighborhoods and communities around the island. We start with a neighborhood in The Maui Real Estate Team’s backyard. Kuau Bayview is a 92 home development built between 1996 and 1998. The subdivision is within a ten minute walk of downtown Paia, less than five minutes drive to Ho’okipa and Baldwin Beach Parks, offers consistent pride of ownership, borders a community park and a number of homes offer excellent ocean views. As Paia has gained increased renown as a desirable beach town, demand for homes in the neighborhood has grown. The growth in demand was particularly evident in Kuau Bayview during 2013. The 2013 neighborhood sales included two record high closes and the second highest cost per square foot sale. While the island as a whole saw solid price increases, there was no other neighborhoods on island that reached the heights of Kuau Bayview.

Kuau Bayview came back to earth during the first half of 2014. Inventory was limited to two listings and there was just a single sale recorded during the first six months of the year. That sale failed to come close to some of the high prices seen in 2013. The home that closed lacked views and did have a fair amount of road noise due to its proximity to Hana Highway.

The second half of the year has seen a modest uptick in activity with two more sales and two new listings. The trend of lower priced sales in the neighborhood has continued during the second half of the year. The most eye catching sale was 19 Hoe Place. This bank owned property sold well below recent neighborhood values with a price of $517,500. Why so low? That’s a good question. I think the biggest factor behind the low price was that this property was not listed conventionally. The property was only listed on auction.com. It was not published on the local Multiple Listing Service and was under the radar of most Realtors until it had closed. In conversations with the listing agent, he indicated that the property was also in poor condition. Regardless, I think it is pretty safe to say that the bank left some money on the table by choosing not to market to the local real estate community. Were more buyers aware of this listing, the sales price would have been higher. I would call this sale a pretty clear outlier.

The second sale during the last half of the year was 33 North Laelua. This property is notable in that it sold during the last market peak for $782,000. That 2006 sale remains the highest cost per square foot sale in Kuau Bayview to date. This September, the home sold for $655,000. That said, I think this sale was close to or a little bit below fair market value. This home likely sold for above market back when it sold in 2006. While 33 North Laelua is a nice home; a lack of view, a small lot and a smaller floor plan made the 2006 sales price something of a surprise. It lacked the views and location more typically associated with the highest priced sales in Kuau Bayview.

It will be interesting to see how the market receives the three current listings that are active in Kuau Bayview. All three are priced well above the two sales in the community for the year to date. The listing at 34 North Laeluea represented by Maui Luxury Real Estate LLC has been on the market the longest. The current list price is $769,500. The property sold in March 2015 for $750,000. It was the highest sale for a home in the neighborhood located on Hana Highway. The home came back on the market in January and market feedback would seem to indicate pricing is high.

The listing at 20 North Laelua is another resale from last year. It is currently listed for $899,000 by Keller Williams Realty. It sold for $800,000 in December. This home has nice views, recently had a PV system installed, and it is set a little further back from the Hana Highway. The most recent listing to hit the market is 40 North Laenui. This home is located at the very top of the subdivision. This is the one and only listing this year located at the top of the subdivision. This home has been impeccably remodeled and well maintained by the owner. There are ocean views from one of the bedrooms upstairs. This home is listed by Wailea Realty for $869,000.

With three lower priced sales this year and two properties listed above the neighborhood’s highest ever sale, I could understand why many would be perplexed about the state of the Kuau Bayview Market. With our office having represented more buyers and sellers in the neighborhood than any other brokerage on island since 2010, we are in a position to provide some insight. While the neighborhood is small in number, fairly uniform in construction and compact in geography, there is a fair amount of differentiation in value among the 92 homes. The biggest factors in value are views and road noise. The properties that have the best views have the highest values plain and simple. The neighborhood high sale from last year had ocean views from the first and second floor and the home was remodeled to maximize those views. The second highest sale from last year also had good views. Road noise is likely to have the biggest negative impact on value in the neighborhood. You could see that with the sale of 52 N Laelua earlier this year and the tepid market feedback for 34 N. Laeluea.

Going forward, the Kuau Bayview market has one challenge. While buyers may see a big difference in value based on views or road noise, appraisal isn’t as nuanced. I have found that road noise isn’t always as big of a negative influence on value in appraisal as it is among buyers. Appraisal doesn’t always differentiate in value between an ok view and a great view. An appraiser is going to look at the proximity of the current listings to the three sales this year and adjust for square footage, any differences in quality and the presence of a view. That is going to make it tough for any of the three listings to appraise near their current asking price. The good news for the three listings on the market currently is that four of the last eight sales in Kuau Bayview have been cash transactions. Cash will take away the appraisal challenge.

If you are thinking of buying in Kuau Bayview or own a home in the neighborhood and would like to get a better sense of your market value, the Maui Real Estate Team would welcome the chance to sit down with you for a free consultation. Contact The Maui Real Estate Team today to discuss your real estate needs.


Waiehu Terrace Home, Back Up Offers Welcomed

Our new listing in Waiehu Terrace has only been on the market for four days, but it is already under contract with a buyer as of this morning. This three bedroom/two bath home received strong interest from the market due to the combination of a quality remodel, views and a convenient location. The home was remodeled with a new roof, new windows, and updated kitchens and bathrooms in 2013. The home offers beautiful ocean views. You don’t need to stand on a ladder from the lanai to see blue. There are nice views looking towards Kahului Bay from the living room. The property also has nice views of the West Maui Mountains from the front yard.

You can see that this Waiehu Terrace Home has nice ocean views as you walk up to the front door
You can tell that there are ocean views as you walk up to the front door of this home in Waiehu Terrace.

Ocean Views from the Living Room of this Waiehu Terrace Home
There are ocean views from the living room of the home.

Waiehu Terrace Home Dining Room and Kitchen
This is the kitchen and dining area of the home in Waiehu Terrace. The kitchen was remodeled with new cabinets, counter tops and appliances.

Waiehu Terrace Shower Remodel
The bathrooms of this Waiehu Terrace Home were remodeled in 2013.

West Mountain Views from the Front Yard of a Waiehu Terrace Home
These are the views of The West Maui Mountains from the front yard on a clear day.

Waiehu Terrace offers a very convenient Central Maui location close to the Hospital, downtown Wailuku, UH Maui College and the shopping and movie theaters of Kahului.

The home is listed by The Maui Real Estate Team, Inc. for $465,000. This home is under contract, but the seller would still entertain back up offers. Check out our Waiehu Terrace Opportunity listing page for additional photos and details on the property. Contact The Maui Real Estate Team for additional information or to arrange a showing of the property.


By » 12/15/2014 » in

Sneak Peek at the November 2014 Maui Real Estate Statistics

The last of the turkey sandwiches have been consumed and Mele Kalikimaka is playing on the local radio stations. That means it is early December and it is a time to take a sneak peek at the November 2014 Maui Real Estate Statistics. This post takes a look at median sales prices, November pending sales and the sales volume for November as compared to November of 2013. I highlight some of the notable numbers from the November sales. I also provide a few thoughts on market activity and what it means for buyers and sellers who are thinking of entering the Maui Real Estate market. Without further ado, here are the November 2014 Maui Real Estate Stats.

Table comparing Maui Real Estate Sales Volumes in November of 2013 and November of 2014

This table compares Maui Real Estate Sales Volumes for Homes, Condos and Land during November of 2013 and November of 2014

Table November 2013 and November 2014 Maui Real Estate Sales Volumes

This chart compares the real estate sales volumes for homes, condos and land in Maui County during November of 2013 and November of 2014

November Maui Real Estate Sales Volumes and Median Prices

By my count, there were 73 homes sold in Maui County during November of 2014 with a median sales price of $590,000. Last November, there were 75 homes sold with a median price of $515,000. That calculates to a 3% drop in sales activity and approximately a 15% increase in the median sales price.

I counted 67 condos reported sold in Maui County this November at a median price of $372,500. In November of 2013 there were 96 condos sold at a median price of $350,000. That is a 30% decrease in sales volume and a 6.4% increase in median price when comparing this year to last year.

There have been 10 lot sales reported in Maui County during November of 2014 with a median sales price of $411,500. Last November, there were 23 sales with a median price of $547,371. That is a 54% drop in sales activity and a 25% drop in median price comparing this November to last November.

Notable Numbers From The November Maui Real Estate Sales

While compiling the November sales volumes and medians, there were some other notable numbers that I came across that I thought were worth sharing.

  • The highest priced home sale of the month was $2,350,000 for a 5,529 square foot home with a pool on a two acre lot in the Wailuku Country Estates Subdivision.
  • That was one of three home sales over $2,000,000 last month. There was one more sale in Wailuku Country Estates and one sale in the Maunaolu Subdivision located between Makawao and Paia. This was a fairly unusual month for high home sales with no activity occurring in the more traditional resort communities. The two Wailuku Country Estates sales were only the second and third homes to ever sell in Wailuku for over $2,000,000.
  • The Montage Residences at Kapalua Bay was home to the highest priced condo sale in November. Since coming to market in June, they have accounted for 80% of the condo sales over $4,000,000. This month’s high sale closed for $4,750,000.
  • The Montage sale was one of six closes over $1,500,000. The other five closes included one more transaction at Montage, a sale at Honua Kai, a sale at the Whaler, a Wailea Point close and a close at Hoolei.
  • The 67 condo sales this month represented the lowest sales total of the year and the second lowest total in the last two years.
  • The highest priced land sale last month occurred in the One Palauea Bay subdivision in Makena. The 1.089 acre lot sold for $3,500,000.
  • There were 12 bank owned sales this November compared to seven bank owned sales last November. There were 4 short sales this November compared to 13 last year. This is a continuation of a trend where we have seen a slight increase in bank owned inventory and sales compared to last year, while short sales continue to play a decreased role in the market.

Thoughts on The November Stats

The November sales activity followed recent trends on island. Maui’s home sales totals continue to be very close to what we saw last year. Condo sales are down substantially. Land sales are also down substantially. As discussed in the September and October statistics, this drop in condo activity is driven in large part by a reduction in the inventory of properties for sale at the entry levels of the market. I think volumes may also be dwindling due to the pricing strategies of some sellers. There are still quite a few sellers shooting for prices well above recent sales. If some sellers were to be more realistic about their sales prices, we may get a little bit of a bump in condo sales activity.

The drop off in land sales that we saw this month may not be quite as significant as it appears. Land statistics include both commercial sales and lots that might be used for residential purposes. The November 2013 sales included six commercial new development lots in the Maui Lani subdivision. There was only one commercial sale this November. The Peahi Hui subdivision also had an impact last November with five new development sales.

It is worth making a brief note that changes in median prices are not a direct indicator of changes in value. Medians shift due to changes in values AND shifts in market activity. More high priced sales push medians higher and more low priced sales push medians lower. Small sample sizes can make changes in median particularly dramatic. This difference in Land Medians between this November and last November is a great example. It is safe to say that land values have not dropped 25% compared to last year.

November Pending Sales

While the November Sales weren’t very inspiring, are there brighter days in store for the Maui Real Estate Market? That’s tough to say, but we do have some sense of what future sales might be based on the number of properties that went pending in November.

Chart comparing Maui County November 2013 and 2014 Pending Sales

This chart compares the number of properties in Maui County that went under contract (pending sales) during November of 2013 and November of 2014

It was encouraging to see pending home sales were up compared to November of last year. It was even more encouraging to see that the number of pending condo sales was higher than November of last year. I am not sure that this is a sign that the condo market is going to see sustained growth or a turn around from it’s recent activity, but it beats the alternative as we head in to our buying season. Pending contracts for land sales are down again compared to last November.

What Does it All Mean for Buyers and Sellers in The Maui Condo Market.

What does this all mean for buyers and sellers? December officially marks the start of peak buyers season. The increases in visitor numbers during winter months means an increase in potential buyers. Buyers will find varying market conditions depending on the part of the market where they are shopping. Market inventory is greatest at the highest price points in the market. Luxury home and condo sellers will find a good selection to choose from. That said, sellers in the luxury market tend to have deeper reserves so they may or may not be as negotiable on price. The entry level vacation rental condo market has seen inventory decrease significantly over the last 12-18 months. Well priced condos in this segment of the market are tending to go quickly. Conditions are similar for entry level homes with buyer competition particularly fierce for well priced properties. Buyers should be pre-approved before looking at homes and prepared to act quickly when the right opportunity becomes available. Sellers should look closely at current market conditions in their price range and community when looking at go to market strategy. Overpriced properties are sitting in this market. These mixed market conditions require thoughtful representation. Contact The Maui Real Estate Team today for a free consultation. We would welcome the opportunity to learn about your real estate needs and discuss the market.

Small Business Saturday in Paia Town!

You don’t have to fight the crowds at the Big Box stores in Kahului on Black Friday to find good Holiday presents. Paia town is offering a great opportunity to find great gifts, to support local businesses and to have some fun with their Small Business Saturday Event.

Small Business Saturday Paia Maui 2014

The list below highlights some of the sales, promotions and events happening at the shops, galleries and restaurants of Paia.

  • Aloha Boutique, 90A Hana Hwy –Special Small Business Saturday Sale
  • Art Project Paia, 77 Hana Hwy – 10% off gallery wide
  • Biasa Rose, 104 Hana Hwy–Alchemy Chocolate samples from new organic chocolate line made on Maui. Champagne will be served and a special sale rack for Small Business Saturday!
  • By The Bay, 90 Hana Hwy- Special Small Business Saturday Sale
  • Cesere Brothers, 83 Hana Hwy- 10% off everything in the gallery
  • Flatbread Company, 89 Hana Hwy – 10% off flatbread apparel
  • Hitech Maui, 58 Baldwin Ave–Small Business Saturday Sale
  • Imrie Boutique, 71 Hana Hwy–Receive a free gift with specific purchase amount
  • Indigo, 149 Hana Hwy —CMiya Trunk Show and Sample Sale. New photography from Daniel Sullivan
  • Letarte 24 Baldwin Ave– Bringing in the holiday spirit with Holiday refreshments.
  • Lilikoi, 18 Baldwin Ave.—Discounts on some of your favorites! Open from 9-7
  • Mahina, 23 Baldwin Ave –Select Small Business Saturday Sale Items
  • Mana Foods, 49 Baldwin Ave—Offering 10% off Mana Foods logo wear all day (while supplies last).
  • Mandala Ethnic Arts, 29 Baldwin Ave—20% off everything in the store
  • Maui Girl, 12 Baldwin Ave—20% off storewide
  • Maui Hands, 84 Hana Hwy—Discount on local handmade ornaments
  • Nuage Bleu, 76 Hana Hwy- Our biggest sale of the year! Friday-Sunday. Open til 7pm on Friday and Saturday. Champagne and treats served after 4.
  • Oceania Maui, 96 Hana Hwy – Celebrating Small Businesses with Mimosas! Special guest Jewelry Designer Oceania and AITM Contemporary Master Artist Demien will join us between 11am and 3pm.
  • Paia Mercantile, 2 Baldwin Ave—Buy one piece of clothing, get additional one at 50% off (50% off piece is lower priced item)
  • Paia Style, 40 Baldwin Ave- 10% off storewide, excluding items already on sale, with a donation to our food bank basket.
  • Paia Trading Post, 106 Hana Hwy- 10% off old bottles
  • Pearl Butik, 71 Baldwin Ave –-Special raffle item to be announced. Small Business Saturday Savings. Serving beverages and pupus after 5. DJ Hans and Sasha “Chunx” will be playing music. Open til 8.
  • Prospect, 115 Hana Hwy- Small Business Saturday sale and Holiday refreshments
  • Sailboards Maui, 22 Baldwin Ave –20% off selected items
  • Studio 22k , 161B Hana Hwy– Storewide Sale!
  • Tamara Catz, 83 Hana Hwy- Free silk item (gift with purchase)
  • Wings Hawaii, 69 Hana Hwy—Buy one regular priced item get a second of equal or lesser value at 30% off (not including already discounted sale items) AND 50% off sale rack

Come out to Paia this Saturday to support local businesses and put a good dent in your Christmas shopping!


By » 11/27/2014 » in

A Reason To Give Thanks

Next week is a time to give thanks. While many of us will gathering around the dinner table on Thursday to utter words of appreciation, there are some on Maui who will be expressing their gratitude on Monday. That’s right basketball fans, it is time to give thanks for the EA Sports Maui Invitational. It is a fantastic opportunity to take in the pageantry of big time college basketball in the friendly confines of the Lahaina Civic Center. This early season tournament brings some of College Basketball’s best teams together for a three day feast of hoops in a venue that is not much bigger than a typical high school gym.

This year’s tournament features top 25 programs Arizona and San Diego State. Both teams played in the NCAA tournament last year and are predicted to have strong squads this season. Arizona is currently ranked number 2 in the polls with SDSU ranked 16th. Pittsburgh and BYU are two more teams in this year’s tournament who made it to last year’s NCAA field of 64. The EA Sports field is rounded out by tournament host Chaminade and traditional basketball powers Purdue, Kansas State and Missouri. You would have to think that Arizona and San Diego State are the two most likely finalists. Those teams squared off in last year’s sweet sixteen with Arizona coming out on top. That said, you never know what can happen with college basketball. In 2010, Connecticut went from being the surprise champions of a stacked Maui Invitational to being the 2011 NCAA Champions.

The tournament tips off at 9:30 AM on Monday. If you can’t make it live, you can tune into the action on ESPN and ESPN2. If you are a college basketball fan and you have yet to make a Maui Invitational, put in your bucket list. It is truly basketball paradise in paradise.

By » 11/22/2014 » in

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