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Hale Pono’i Kula 200

Kula 200 is one the best neighborhood’s in Upcountry Maui, and Hale Pono’i is one of the best homes in all of Kula 200. This four bedroom, three and a half bath home has 3,751 square feet of living space. The homes pool, palapa and expansive lanai areas beckon you to head outside and take advantage of the Upcountry weather. Hale Pono’i is situated on a two acre lot with a variety of tropical plants, fruit trees, koa trees, mature banyans and even a Rainbow Eucalyptus. You can get a better sense of all that this home has to offer in this new video that highlights the property.

HALE PONO KULA HOUSE from Martin Lenny on Vimeo.

Hale Pono’i is offered for sale for $2,100,000. Check out the Hale Pono’i listing page for photos and additional details. Contact The Maui Real Estate Team today to discuss the property with an agent or to arrange an exclusive preview.

Kula Koa Price Reduction

We just had a significant price reduction on Kula Koa. This 52 acre property in Upcountry Maui consists of two separate parcels of land. There is one parcel that is 38 acres and a second parcel that is 14 acres. The seller had a massive well and water system installed that delivers water throughout the property. There is a very well constructed two bedroom cottage that includes high end appliances and a fire place to warm and cozy on cool Upcountry nights. There is a massive garage with an attached ag work shop that gives you plenty of space to store farm equipment with room to spare for a surfboard or two. The existing structures are powered by a six kilowatt photovoltaic (solar) system with back up batteries and generator. The seller has already installed a septic system and graded a building pad for a main home. The building site offers impressive views of the West Maui Mountains, the North Shore Coastline and Haleakala.

Kula Koa North Shore Views at Twilight

The Cottage and the Garage at Twilight at Kula Koa

the cottage, the garage and the building site at Kula Koa

The front porch of the cottage at Kula Koa

The Cottage Kitchen at Kula Koa

The water, zoning and acreage offer a number of opportunities for buyers. There is the potential for additional subdivision, enough water to share with neighbors and a lot of agricultural potential. There are already separate pasture areas set up for livestock or other grazing animals. The elevation and climate are ideal for orchards. There is also opportunity for vegetable farming.

Kula Koa is now offered by the Maui Real Estate Team, Inc. for $4,975,000. Check out the Kula Koa Listing Page for additional photos and details on the property. Qualified buyers may contact The Maui Real Estate Team to discuss the property or to arrange an exclusive preview.

Pukalani Property with Lots of Upside

This home in Pukalani has lots of upside for savvy buyers. The house has four bedrooms and two baths in an up and down configuration that could make it appealing for investors. There is also an attached two bedroom, one bath ohana that feels very separate from the rest of the home. A little bit of elbow grease, a paint brush and your tool bet could go a long way toward enhancing the existing structure. It already has a small garden area with citrus, avocado, banana, breadfruit, mango and Coconut trees. There are even peekabo views of both coastlines. The convenient Upcountry location is within walking distance of the Pukalani Town Center, the public pool, a park and Pukalani Elementary. You are roughly fifteen minutes from Central Maui shopping and Baldwin Beach in Paia.

Porch of a home for sale at 172 Hiwalani Loop in Pukalani

Exterior of a home for sale at 172 Hiwalani Loop in Pukalani

Aerial shot of a home for sale at 172 Hiwalani Loop in Pukalani

This home is offered for $675,000. You can check out the 172 Hiwalani Loop listing page for additional photos and details. Contact The Maui Real Estate Team to arrange a showing or to discuss this property with an agent.

By » 3/16/2015 » in

February 2015 Maui Real Estate Statistics

February is smack dab in the middle of our whale season and our visitor season on Maui. Lots of visitors on island also typically means a fair amount of real estate activity. This is our look at how the Maui Real Estate Market performed in February of 2015. Included among the numbers below are sales volumes by property types, median sales prices, notable sales and pending sales. We also give a few thoughts on the stats and what it all means for buyers and sellers. Without further ado, here are the numbers.

February Maui Real Estate Sales Volumes and Medians

Maui Real Estate Sales Volumes for February 2014 and 2015

This chart compares the Maui Real Estate Sales volumes during February 2014 and February 2015.

By my count, there were 59 homes sold on Maui in February with a median price of $567,250. That is the same exact number of homes sold as last February. The February 2014 median was $550,000. That is a 3% increase in median prices comparing this February to the same month last year.

There were 92 condos sold last month with a median price of $477,500. In February of 2014, there were 88 condos sold at a median price of $345,000. That is just under a 5% increase in sales activity and a 38% increase in median price.

There were 14 lots sold in Maui County during February with a median sales price $490,000. Last February, the total was 12 lots sold at a median price of $447,500. That is roughly a 17% increase in activity and a 9% increase in median price.

Notable Numbers from the February Maui Real Estate Sales
While compiling the sales volumes and median prices, I came across some other notable numbers from the February Maui Real Estate activity that I believe are worth sharing.

  • The highest priced home to sell in Maui last month was located in the Ka’anapali Coffee Farms subdivision. The four bedroom, four bath home has 3,599 square feet of living space and a pool on 5.58 acres.
  • That was one of three home sales over $2,000,000 that closed in February. The other two homes that closed were also located in Ka’anapali with one home closing in the Summit and another in Ka’anapali Golf Estates.
  • The highest priced condo sale last month was a 3 bed, 3.5 bath condo at the Montage Residences on Kapalua Bay.
  • That was one of ten condos sold for more than $1,500,000 last month. The other big sales included 3 closes at Honua Kai, 2 at Wailea Elua and one each at Makena Surf, Andaz and The Terraces at Manele Bay on Lanai.
  • The highest priced land sale last month was $1,430,000 for a homesite in Makena Papa’anui.
  • There were 13 bank owned transactions that closed last month in Maui County. There were 8 banked owned sales last February.
  • There were 3 short sales that closed last month compared to the 8 short sales that closed in February of 2014.

Quick Thoughts on the February Stats
While February wasn’t the busiest month for closed sales, it was positive to see that homes, condos and land sales volumes outperformed the February 2014 numbers. This hasn’t occurred all that often over the last 6-10 months with condo and land sales typically lagging behind the same month of the year prior. While the increase in one month of sales activity is generally a good thing, I am not sure it is a sign of any substantial shift in the market.

The Maui luxury property market saw another strong month of condo sales in February. Buyers have a good selection of inventory to choose from with a variety of high end resales on the market and new developer units still available at places like Montage Kapalua, The Residences at Andaz and Honua Kai. The luxury home market has seen a slower start to 2015 with sales over $2,000,000 down compared to the same period of 2014. There is also a good inventory for buyers searching in this price range so you can’t chalk up the reduction of activity to limited supply. It will be interesting to see if sales activity picks up for luxury homes during the rest of the year.

Sales activity for bank owned properties was stronger than February of last year, but the impact of bank owned properties on the market remains limited. Rather than dragging down prices with below market sales prices, most banks are pricing properties high with the hope of achieving maximum value for their assets. This means many banks are having to make one or more price reduction before they actually find the market. Buyers searching for bank owned bargains may be disappointed with the selection of properties available.

February Pending Sales

February 2014 and February 2015 Maui Real Estate Pending Sales

This chart compares the number of properties on Maui that went pending during February 2014 and February 2015.

While the February sales provided good news, the February pending sales were a mixed bag. There were 20 more homes on island that went pending this February compared to last February. Pending land sales were exactly the same as last February. The condo market was a lot quieter with 28 fewer condos going under contract compared to February 2014. The lower condo sales activity in February is more typical of what we have seen since the middle of 2014. Limited inventory has been a factor in the lower sales volumes. I surmise we may also be seeing some impact from a weakened Canadian dollar. I was showing condos in South Kihei last week and was struck by both the depth of inventory and lack of activity at some complexes that are traditionally popular with Canadian buyers.

What Does it All Mean for Buyers and Sellers?
Buyers and sellers will find that market conditions have changed little over the better part of 18 months. At a broad level, the Maui Real Estate market is continuing to experience modest price appreciation with limited inventory at and below the median price points of the market. As you hone in on the different communities and neighborhoods, you will find a little more variability in conditions. Depth of inventory and buyer demand may vary. Buyers will find that well priced properties regardless of location or price point can go very quickly and may attract multiple offers. Buyers should be pre-approved if they require financing on their purchase so they can put their best foot forward with sellers. Sellers need to look closely at recent sales activity when determining go to market pricing for their property. Over priced properties are sitting even if that part of the market may have more limited inventory. Contact The Maui Real Estate Team with questions or if you are interested in buying or selling Maui Property. We would welcome the opportunity to sit down with you for a free consultation.

Haiku Off The Grid Lot

People have been living off the grid in Maui for decades. In rural parts of our island, electrical and water infrastructure can be limited. That means people may need to use catchment systems to capture their water supply and photovoltaic panels to generate power. While off the grid living may be the norm for some island residents, it is something that is getting more and more discussion and interest from the general public. PV systems have become more advanced and less expensive to install. We are also appear to be on the cusp of seeing some exciting advances in home energy storage. On a recent investor call, Elon Musk announced that Tesla will be entering the home energy storage market. Tesla batteries are supposed to start production in as soon as six months.

With off the grid becoming more accessible, it is a particularly exciting time to bring an off the grid land listing to market. This lot in Haiku is .7 acres of flat and usable land. The ocean views from the building site are truly stunning.

Ocean Views from the Off the Grid Property in Haiku

ocean views haiku off the grid lot

Lot 100 on Burns Road

The lot is located near the end of a quiet country road. It overlooks Opana Gulch. Opana stream runs through the gulch and can sometimes be heard from the lot. Looking across the gulch, there is nothing but forest views extending up towards the Koolau gap of Haleakala. This is truly a place of quiet that brings you back to nature.

The Bamboo forest in Opana Gulch
Opana Gulch includes areas of Bamboo Forest.

The Opana Stream near the Property
Opana Stream running through the gulch near the property.

Opana Gulch Looking towards the Koolau Gap in Haleakala
There is nothing but forest land when you get to the end of the road. This is a view from off the property looking up Opana Gulch towards the Koolau Gap on Haleakala.

This Haiku off the grid lot is listed for $357,500. You can check out the Burns Road Lot 100 listing page for additional photos and details. Contact The Maui Real Estate Team to arrange a showing of this beautiful off the grid land. This is your opportunity to unplug and get back to nature.

Paia Oceanfront Price Reduction

The charm is in the home. The value is in the land and the lifestyle. The two bedroom, one bath home is vintage Hawaiian Plantation Style. The home features fir floors, a back porch for taking in the views of the ocean and an outdoor shower to rinse the salt and sand off from the beach. The oceanfront lot is R-1 zoned and 14,600 square feet. The size and the zoning of the lot would allow for a second full sized home. The elevation of the lot is out of the flood zone. This means the home is easier to insure and less expensive. It also adds a little peace of mind in a time of rising sea levels. The lot has an over sized 3/4 inch water meter. That gives more latitude if and when you want to build a second home on the lot.

129 Aleiki, Paia, Maui, Hawaii -HD from The Maui Real Estate Team on Vimeo.

The location is in the heart of Maui’s North Shore. You are minutes from great surfing, SUP, kiting and windsurfing. You can check the surf at Ho’okipa Beach Park and Mama’s from your back yard. The access path to Mama’s Beach is just one house over. The world renowned Mama’s Fish House is less than a minute’s walk from the front door. Charming Paia town and its shopping, restaurants, groceries and yoga studios are a five minute drive. Kahului airport is less than 20 minutes away.

Aerial photo of the cottage on Mamas Beach

mamas beach as seen from the kuau beach cottage

kuau beach cottage twilight

This Paia Oceanfront Opportunity is now offered at the reduced price of $2,650,000. Check out the 129 Aleiki Place listing page for additional photos and details. Qualified buyers should contact The Maui Real Estate Team to arrange a showing.

By » 2/21/2015 » in

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