Maui Real Estate Blog
Stunning Hana Home
The Maui Real Estate Team just listed a stunning property in beautiful Hana on Maui’s East Side. The 3 bedroom, 2 bath home offers classic Hawaii Plantation Style on the outside with modern conveniences and amenities on the inside. Built in 2008, the construction is high quality and very well maintained by both the original and current owner.
About the Home
340 Alalele exhibits attributes of the classic Hawaii home with a generous covered front lanai, a corrugated metal roof and even the classic green paint color ubiquitous around the island in days of old.
The interior includes attributes appealing for modern living including a large, open, kitchen, living and dining space and soaring vaulted ceilings. Travertine tiles run throughout much of the home. And if you still need to be connected while you are in Hana, High Speed Internet means you won’t miss Zoom calls with work.
The kitchen of the home includes custom cabinetry, Corian countertops, a custom surfboard bar top on the island and quality appliances including an induction range. The wet bar adjacent to the dining nook is a great spot for drink preparation.
The bright and spacious primary bedroom suite includes hardwood floors and a walk in closet. The en-suite primary bathroom comes with slate flooring, a double vanity and a large walk in shower.
The other two bedrooms are at the opposite end of the house from the primary suite. They share a bathroom.
The home lives larger than its 1,792 square feet of living space. Some of that can be attributed to the floor plan that avoids wasted space. The high ceilings also enhance the sense of spaciousness. Last, but not least the large lanai spaces provide for the type of indoor/outdoor living space ideal for the tropical Hana climate. It’s a great spot for watching the shifting cloudscape along the East slope of Haleakala, enjoy the patter of rain from a passing trade shower or to just soak in the natural beauty all around you.
There is a detached two car carport a short distance from the home. The carport has plenty of closet space for yard tools or beach equipment. There is an outdoor shower off the back of the home ideal for rinsing off after a hike, day in the yard or washing sand off from visiting Hamoa Beach. The home has a photovoltaic system that helps keep energy bills low.
The Land and The Location
The property consists of just over 2.9 acres of land. The landscaping around the property is a treat for the senses. The fragrance of plumeria, gardenia and night blooming jasmine fills the air. Vibrant ti plants and Hibiscus delight the eyes. An abundance of grassy lawn area feels great on your bare feet. And let’s not forget your tastebuds. Edibles include Coconuts, Avocado, Ulu (Breadfruit), Citrus, Banana, Papaya and Lilikoi. A lava rock raised bed off the back lanai is a good spot to grow herbs and vegetables. There is still plenty of room to plant additional orchard, a food forest or more garden space.
The property is a short walk to the King’s Trail and a scenic coastal hike to Waianapanapa State Park. The Hana airport is just down the road if you prefer to fly in and out of Hana. Mokulele Airlines offers two flights daily from Kahului to Hana. It is about ten minutes drive from the house to Hasegawa General Store and 15 minutes to Hamoa Beach.
For More Information…
The list price for this Hana property is $1,395,000. Check out the listing page for additional for photos. You can also take a 3D tour of the home. Contact The Maui Real Estate Team with questions or to arrange a showing of the home.
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Things to do on Maui – By Region
Maui Real Estate Blog
Hana Permaculture Property
Growing your own food. Living sustainably. Reducing your footprint. In today’s world, there are many who find the appeal of all of the above undeniable. With it’s mix of rain and sun and year round growing season, there are few places that compare to Hana if you want to live a sustainable lifestyle. You would be hard pressed to find a better opportunity to get started on your new lifestyle than this property listed for sale in Hana.
A Decade of Hard Work
While Hana is a great place for a sustainable lifestyle and growing your own food. It isn’t always easy to start from scratch. Land needs to be cleared, soil augmented, structures need to be built, energy systems set up and of course orchards need to be planted. There is a lot of trial and error. This 2.78 acre parcel provides an opportunity to reap the literal fruit of the seller’s labors. Over the last decade, the owners thoughtfully and lovingly planted the property with hundreds of fruit trees, flowers and foliage. They used permaculture principles while farming. The farm received organic certification for three years before being discontinued last year due to a lack of need.
Plantings on the Property
The property includes hundreds of edibles, timber bamboo and a variety of understory crops and mulching plants.
A partial list of edibles includes:
- Hundreds of Bananas including Ice Cream, Apple and Williams varieties.
- Sour Sap
- 6 Avocado Trees
- Star Apple
- Jack fruit
- Eleven Coconut Plams
- A variety of citrus including Lime, Grapefruit, Myers Lemon and Oranges
- 20 Cacao
- 100’s of Pineapple
There is also a 42′ x 20′ green house for growing vegetables, greens and herbs. There is plenty more space for planting additional fruit trees. Contact The Maui Real Estate Team for the full list of edibles.
There is a barn on the property going through the after the fact permit process. It has a completely separated upstairs area. There is a small garage for a mower and farming tools, a cement compost pad, geodesic dome with covered work space and an ag shed. There are three ideal building sites on the property with ocean, sunrise and moonrise views. Zoning allows for the potential to build a cottage with upto 1,000 square feet of living space. There is a large capacity septic system already installed for a future cottage.
This is the last property in Hana serviced by the Hana Ranch water system. Everything to the North uses catchment or well water. The owners installed underground water throughout the property to water crops and trees as needed. Maui Electric and high speed cable internet are available at the property. The current owners powered the property using a 27 panel outback solar system with an 8 battery power bank.
Find out More about This Hana Permaculture Property
If you are in the market for a permaculture property on Maui, check out this video that the seller’s put together a few years ago about the property. It is a great chance to see more of the beautiful property, the food being grown and the lifestyle offered.
This is unit B of a two unit residential condominium. The asking price for the property is $549,000. This property sold in 2020. Contact The Maui Real Estate Team for assistance finding other small scale farms or Hana Properties. You can find all of the current Hana Real Estate Listings on our site.
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Three Takeaways from the Maui Real Estate Market During the First Quarter of 2017
It has been a while since I have done an island wide stats post. After over ten years, I was struggling with rehashing the same format on a monthly basis. I decided to take a different approach this month. Rather than barraging you with lots of numbers, I wanted to try to distill the numbers into a few key takeaways. I also am gong to try to do this on a quarterly basis. With our smaller market, I think there is some merit to looking at slightly longer time horizons to overcome some of the variability we get on a month to month basis. Hopefully, those two changes will make for a better and more informative read. Without further ado, Here are my three key takeaways from the first quarter of 2017 followed by a some thoughts on what we may expect over the next few months.
1. Scarcity was the biggest driver of the Maui Real Estate market for the first three months of 2017. This was particularly true in the home market under $1,000,000. The lack of inventory in this price range has resulted in a lot of bidding wars and upward pressure on pricing. It also meant a decrease in sales volume as there just aren’t as many homes to sell. Buyers are out looking, but they are having a tough time getting into places. This is reflected in the stats with median prices up 15% compared to the first three months of 2016 and sales volume down 5%. The March median home price of $769,000 was the highest that we have since 2006. Again, this really hammers home the scarcity of listings at lower price points.
Scarcity is not a Maui specific phenomenon. It is happening throughout the United States. I was listening to Jill Schlesinger of CBS on Here and Now. She talked about the factors constraining the housing stock nationally. She cited a Baby Boomer generation that has not been quick to sell their homes at retirement. There are quite a few members of that generation who are choosing to modify their homes so they can age in place. Schlesinger also said that a lot of homes were acquired by private equity companies during the last downturn. They have kept those properties as rentals rather than putting them back on the market. I am not sure that the same factors are in play on Maui. For one, private equity firms were not buying property in big numbers on island. I think the biggest constraint we are seeing on Maui is a lack of new construction. New construction is not even coming close to keeping pace with population growth. It takes a longer period of time for new developments to get off the ground on Maui and many times they will fizzle out in between market cycles. We are also seeing a lot of new development occurring at higher price points in the market and less development occurring at the entry points of the market where demand is highest.
2. Luxury Real Estate Sales Trend up and Shift South. Luxury home sales were up in the first quarter of the year. There were 16 sales over the first 3 months of 2017 compared to 11 over the first 3 months of 2016.
Over the last couple of years, luxury home sales have been stronger in West Maui compared to South Maui. Launiupoko has led the charge with Kapalua and Kaanapali following close behind. There were eight sales in West Maui over $2,000,000 during the first 3 months of 2016. There was a a solitary sale in South Maui during that period. This year, there were four sales in West Maui over $2,000,000, and there were eight sales in South Maui over $2,000,000. Makena market activity was particularly notable with four sales over $9,000,000. It is hard to account for the shift in sales volumes between the different part of the island. Sometimes it just depends on the comparative quality of the inventory. Makena may also be seeing a bump due to the development of the Makena Golf and Beach Club. While none of the four sales in Makena were part of this development, this ultra high end development from Discovery Land Company may be drawing some affluent buyers to explore more immediate options for purchase outside of the new development.
There was also an uptick in luxury home sales outside the resort areas. There was a single sale in each of the communities of Hana, Haiku, Kula and Paia.. That compares to a single sale outside the resorts during the first three months of 2016.
The luxury condo market saw some similar trends. Sales were up overall. There were twenty-three sales over $1,500,000 during the first few months of this year compared to seventeen during the first three months of 2016. Twenty of the sales were in South Maui during 2017 compared to nine last year. Conversely, West Maui has seen a dip in activity with three closes compared to eight in 2016. Some of that can be attributed to a decrease in inventory in Honua Kai. All of the developer units have sold there which means we are now depending exclusively on resales.
3. Overall, the condo market had strong start during the first quarter of 2017. Condo sales do not seem quite as constrained by inventory when you look at the sales volume. Sales volume is up 17% compared to last year***. Almost all of that growth in activity can be traced back to the vacation rental condo market.
The vacation rental market had been in the doldrums for the previous couple of years. Much of that can be attributed to a decrease in demand from our neighbors North of the border. The Canadian Dollar has slumped after a number of years of parity. As a result, we saw relatively limited activity and a glut of inventory in some of the more popular vacation rental condos in the Kihei area. That appears to have shifted during this buyer’s season. Overall, sales of vacation rental condos were up 48% county wide. In Kihei, sales of vacation rental friendly condos were up 73%.
It is hard to attribute an exact reason for the sudden boom in the Kihei condo vacation rental condo market. While we may be seeing a few more Canadian buyers, the Canadian dollar remains far below the peak that prompted the last wave of Canadians. I surmise that there may be a number of factors at play. The concept of vacation rental ownership is being more ingrained into people’s psyche as companies like Airbnb become more prominent. A number of our domestic feeder markets are feeling their own real estate booms. West coast markets like Seattle, Portland and much of California continue to see strong activity. We also have seen a sustained bull run in the stock market that may provide people with the discretionary capital to make a second home purchase.
As with the luxury condo market, West Maui hasn’t seen quite the same level of activity for the general vacation rental condos. Numbers are down slightly in West Maui for condo sales. Again, Honua Kai plays a part in the lack of activity. This condo complex has been the driving force in West Maui condo sales in all price ranges since 2010. With the remaining inventory higher priced resale units, sales have slowed substantially at Honua Kai.
What can we expect over the next few months?
There is no immediate relief coming with the housing supply issues on Maui. On the demand side, island rents remain high and interest rates are still comparatively low. Barring a cataclysmic shift in the economy or a major upheaval in global politics, market conditions should remain similar to what we saw in the first quarter of the year. That means that competitive bidding will likely remain the norm for well priced homes in the $1,000,000 and under price range. You may even see a few bidding wars at well priced homes over $1,000,000. This can be a frustrating time for buyers as strong offers can still be trumped by irrational exuberance. That said, buyers should remain patient, make sure they have their ducks in a row when it comes to financing, be realistic about their financial picture and act decisively when properties that meet their needs come to market. While this is a seller’s market, there is some variability in demand by town and even neighborhoods on the island. Not everywhere is booming so sellers should consult closely with their Realtor and study recent sales to develop a realistic market price. Contact the Maui Real Estate Team if you are considering buying or selling property on Maui. We would welcome the opportunity to sit down with you face to face or to talk on the phone to discuss your real estate needs.
***Note the numbers reported for vacation rental condo sales are not 100% accurate. It is not a mandatory field in the Maui Multiple Listing Service to report whether or not a condo may be vacation rented. As a result, vacation rental condo sales can be under reported.
Maui Real Estate Blog
Hana Land Opportunity
This is an opportunity to own two side by side 6 acre lots in Hana. The agriculturally zoned lots are located on the North side of Hana town just a few minutes drive from the black sand beach of Waianapanapa State Park. The lot provides a number of different opportunities for potential buyers. The land was previously used for cattle ranching by the Hana Ranch. Parts of the land have become lightly forested since it was last grazed. There is good farming potential in the land. It could be re-fenced for a smaller number of livestock. Other nearby properties grow Cacao, a variety of citrus and other tropical fruits or tropical flowers. With an implemented farm plan, the zoning would allow for two primary homes and two 1,000 square foot cottages between the two lots.There are plenty of good building spots and there is potential for excellent views with a little bit of clearing. The number of potential homes could be conducive to a family compound or a property split among friends. A four unit CPR is another possibility.
The properties do not have water meters, but there is ample rainfall for water catchment. There is overhead electricity that runs through the property, or you could always go off grid to save on your electric bill and to lighten your impact on the planet.
Hana town offers an incredibly laid back lifestyle. It is secluded from the rest of the island. The natural scenery is stunning and there are great beaches and waterfall hikes. It is a great spot to get back to nature.
The two lots are offered together for the price of $655,000. These lots sold! Check out the current inventory of Hana Land for Sale or contact The Maui Real Estate Team for direct assistance.
Maui Real Estate Blog
June 2016 Maui Real Estate Statistics
It’s almost the end of the month so I wanted to make sure I squeezed in a June stats post.This is something of an abbreviated post with more numbers and less analysis. I will give a few more thoughts on the state of the market in the July stats. Without further ado, here are the numbers.
June Real Estate Sales Volumes
There were 98 homes sold in June with a median home price of $657,000. Last June there were 101 homes sold with a median price of $650,000. That is a 3% drop in sales volume and a 1% increase in median price when comparing this June to last June.
There were 110 condos sold in June with a median price of $384,000. In June of 2015, there were 99 condos sold with a median price of $355,000. That is an 11% increase in sales volume and an 8% increase in median price.
There were 13 lots sold in June with a whopping median price of $1,200,000. Last June, there were 14 sales with a median price of $420,000. That is a 7% decrease in volume and a 285% increase in median price.
Notable numbers from the June Real Estate Sales Activity
While compiling the stats above, I came across some other notable numbers worth sharing from the June sales activity.
- The highest home sale price in June was $7,000,000. This Makena property includes almost 10 acres of land and two pole homes. It is close to Big Beach.
- That was one of 5 home sales over $2,000,000. The other sales were for properties in Kihei, Kapalua, Launiupoko (Lahaina), and Hana.
- The highest price condo to close in June is located in Wailea. The 3 bedroom, 3.5 bath condo Ho’olei in Wailea sold for $2,850,000.
- That was one of 8 condo sales in June sold for $1,500,000 or more. There was one more Ho’olei sale and two sales in Wailea Elua. There were individual sales of $1,500,000 or higher at Ka’anapali Ali’i, Maui Ka’anapali Villas, Honua Kai and Makena Surf.
- The highest priced land transaction closed for $2,950,000. This oceanfront lot in the Kuau area of Paia consists of 18,861 square feet of land.
- This was one of 7 land sales over $1,000,000 in June. That is a pretty extraordinary number. Five of these sales were in Launiupoko. They were part of the new Makila Ranch subdivision of Launiupoko. The one other sale was in Haiku.
- There were 12 bank owned sales that closed in June. That was down just a little from the 13 REO sales in June of 2015.
- There were 2 short sales that closed in June. That is down significantly from the 8 short sale transactions that closed in June of 2015.
June Pending Sales
All of the numbers discussed prior to this point were from properties that sold in June. We also wanted to take a look at the properties that went under contract with buyers in June. This will give us a little better sense of more recent market activity and demand.
June marked the second month in a row where pending home sales were down. I don’t believe this is a reflection of decreased demand as it is a reflection of limited inventory for first time home buyers. I expect this trend to continue with lower sales volumes and higher median prices due the decreased number of entry level homes available for sale. The condo market continues to follow recent trends of outperforming 2015. The land market pending sales are skewed a little by new development sales that showed 0 days on market. These were contracts that were likely written before this month.
Wrapping it all up
I don’t have a whole lot of in depth analysis to offer this month. We have seen fairly steady market demand overall with pockets of greater activity based on geography and price point around the island. As mentioned directly above, I believe the lack of lower priced home inventory will continue to impact the total numbers of homes sold. Contact The Maui Real Estate Team if you are thinking of sticking your toes into the waters of the Maui Real Estate market. We would welcome the chance to sit down and learn about your real estate needs and give our thoughts on market conditions specific to the properties that might fit your needs.