Maui Real Estate Blog
Beautiful Estate in Maunaolu Plantation
The Main House at 193 Ohaoha
The custom built three bedroom, three and a half bathroom main home features 4,200 square feet under roof. There are a choice of two potential master suites with one on the ground floor and one on the second story. The living room features barreled ceilings and a beautiful stone fireplace. The kitchen includes custom cabinetry, granite counters and Viking and Bosch appliances. There is a media room, office, laundry room and utility storage. Central a/c keeps the home cool on the warmest days. A home security system provides additional peace of mind. A three car garage has plenty of space for all of your beach toys or gardening equipment.
The home has a massive solar photovoltaic system with 74 panels. It also includes a 24 kilowat backup generator.
Outdoor Living at 193 Ohaoha
The pool area is a fantastic entertainment space. The pool has a beach entry, spa and waterfall feature. Propane powered tiki torches decorate the pool area. They help to ensure that the fun continues as day slips into night. Propane also powers a pool side barbecue.
The Ohana at 193 Ohaoha
The home’s two bedroom, two bath cottage offers 1,000 square feet of living space and a six hundred square foot garage. The cottage is completely private from the main house with its own separate gated entrance. Quality features include a presidential roof, large stone tiles in the kitchen and bathrooms and poured concrete counters in the kitchen and the master bathroom.
About Maunaolu Plantation
Maunaolu Plantation is a gated community with two to three acre lots. Ideally situated between Makawao and Paia towns, this area of the island is known as Sunnyside. The climate strikes a good balance between warm days and cool evenings. There is enough rainfall to keep things lush throughout the year, but plenty of sun too. It is less than ten minutes to Ho’okipa Beach Park. There are a number of quality schools located nearby.
Find out More About this Maunaolu Plantation Estate
This property is offered for $2,298,000. Check out the 193 Ohaoha Listing page for additional photos and details. Contact The Maui Real Estate Team to discuss the property or to arrange an exclusive preview.
Maui Real Estate Blog
3035 Baldwin Avenue Details
“The details are not the details. They make the design.”-Charles Eames
Over the years, I have had the opportunity to look at a lot of properties throughout all corners of Maui. I have seen a number of beautiful homes. Some are distinguished for their views, some for their architecture, some for their setting and some for all of the above. 3035 Baldwin Avenue in Makawao is one that fits the all of the above category. That said, today I wanted to hone in on the details of the property. 3035 Baldwin is the type of home where you notice something new each time you visit. The photos below capture some of the details that you might miss on a quick visit.
The stainless steel circles in this railing are ubiquitous throughout the property. You see them at the front gate, you see them used for railings. They are used in the kitchen and bathrooms. The amazing thing is that the owner individually welded all of the circles together. There are over 2,000 on the property.
3035 Baldwin was part of the old Kaluanui Estate. An old cistern next to the main house was converted to a firepit. A great place to watch the sunset as day turns to night in Upcountry Maui and stars begin to blanket the skies.
Circles are a feature seen throughout the design of the house. This portal window reflects a trellis outside the master bedroom. The siding is also noteworthy. Rather than just using linear shakes on the exterior. The shakes are in a wave like pattern.
The circle theme carried over into this blue door down by the garage.
A sculpture outside the main home.
Jalousie or louvre windows are popular in tropical architecture. They can let in breezes while keeping out moisture. This home has oversized jalousies. The owner designed and built the mechanics to open and close these large jalousies. The end result is beautiful, durable and very functional.
The Japanese soaking tub outside the master suite uses as bamboo spigot that is turned on and off by a faucet made from a stack of river rocks.
These are just some of the eye catching design features around the home. Check out the youtube video below to see more details of the property.
This property is offered for $6,900,000. For a big picture view of the property, check out the Maui Haven Website. Qualified buyers may contact The Maui Real Estate Team to arrange an exclusive preview.
Maui Real Estate Blog
New York, Paris, London, Tokyo…Makawao?
There are so many attributes at 3035 Baldwin Avenue from the spectacular views, to the thoughtful design and construction, the privacy, the trails, the agriculture, the additional lot allocations etc. that it is easy to perhaps overlook one of the most outstanding features of all.
Situated at the epicenter of Maui, it is hard to find a more convenient location for a private estate on Maui.
- 2 minutes and .5 mile to Montessori of Maui
- 3 minutes and 1.2 miles to Makawao Elementary School
- 4 minutes and 1.5 miles to Makawao town
- 6 minutes and 2.4 miles to Seabury Hall
- 11 minutes and 5.4 miles to Haiku town
- 14 minutes and less than 5 miles to Makawao forest Mountain Biking
- 15 minutes and 6 miles to Paia town
- 17 minutes to Baldwin Beach Park
- 17 minutes and 7 miles to Hookipa Beach Park
- 18 minutes and 10.5 miles to Kahului Airport
- 36 minutes and 28.7 miles to Keawakapu Beach
- 67 minutes and 29.8 miles to Haleakala Summit
- 75 minutes and 44.1 miles to Honolua Bay
- 110 minutes and 42.2 miles to Travaasa, Hana
- Los Angeles, Silicon Valley and Seattle – Approximately 6 hours
- Tokyo – < 12 hours
- New York 14 hours
- Paris – 20 hours
Whether is be cycling, surf, snorkeling, school, sushi, shopping or more…3035 Baldwin Ave. So Close and Yet So Private.
Check out the listing page for more details and photos.
Contact The Maui Real Estate Team to arrange a private tour of the property. For more eye candy from this special property, watch the youtube video below.
Maui Real Estate Blog
3035 Baldwin Avenue, Makawao
Is this your dream? Does your Hawaiian Dream include a custom crafted home on an expansively beautiful property in one of Maui’s prime locations? In your dream, is the home itself a work of art, blending the best of Asian and Hawaiian design elements? Is there a large modern workshop where maybe your boat or other toys are waiting?
Do you dream of a house that is well suited both to entertaining friends and family and quiet moments of reflection? Can you envision lounging on the lanai looking at the North Shore and the West Maui Mountains, sipping a cool beverage and watching the sun set with friends? The smell of wood smoke and fresh Italian herbs waft across the lanai from your pizza oven. Or, perhaps you’re looking across your fruit orchard at the full glory of Haleakala, clear as a bell. Later, you’ll stargaze from the hot tub.
Often in the dream, you’re exploring the many meandering trails that traverse the landscape, enabling you to truly enjoy the property’s entire 70 acres. The trails pass by a small, organic lettuce farm and a young forest of native koa trees, some of which you’re thinking you’ll harvest one day for their prized wood. You find a running stream and macadamia nut trees and allspice groves. You can smell them in your dream, and they smell like spice cake.
Do you dream of never paying a power bill thanks to a powerful state-of-the-art photovoltaic power system? Does the dream include a lifestyle that combines intrinsic privacy and the convenience of driving 2 minutes to get to great restaurants, stores, spa treatments or yoga classes?
You’ve been dreaming of this property and it is finally available. 3035 Baldwin Avenue is offered for $6,900,000. Check out the listing page for more details and photos. Stay tuned to the Maui Real Estate Blog as we explore the different attributes that distinguish this property. Location, architecture, sustainability, recreation, natural beauty and more are all outstanding elements that make this one of the finest properties in Upcountry Maui. It is what makes 3035 Baldwin Avenue a property of your dreams.
Maui Real Estate Blog
February 2016 Maui Real Estate Statistics
We are two months into the new year and more than half way through Maui’s peak real estate season, that means it is a good time to check in with the Maui Real Estate statistics. After a slow start for sales in January, we saw an increase in sales volume among all property types in February. We will have all the details on sales volumes, medians, February new pending sales, notable numbers and a few thoughts on the market below. Without further ado, here are the February Maui Real Estate Statistics
Maui Sales Volumes and Median Prices
By my count, there were 69 homes sold on Maui in February with a median sales price of $595,000. In February of 2015, there were 60 homes sold with a median price of $558,625. That calculates to a 15% increase in sales activity and a 6.5% increase in median price.
There were 102 condos sold in February 2016 with a median sales price of $444,450. Last February, there were 95 condos sold with a median sales price of $475,000. That represents a 7% increase in sales activity when comparing February 2016 to February 2015 and a 6% decrease in median price.
There were 20 lots sold last month with a median sales price of $512,500. In February of 2015, there were 14 sold with a median price of $490,000. That is a 43% increase in sales volume and a 4.5% increase in median price.
Notable Numbers from the February Maui Real Estate Sales
While compiling the sales volumes and the medians, I came across some other notable numbers from the February Real Estate sales activity on Maui.
- The highest priced home to sell on Maui in February closed or $5,550,000. Located in the Wailea Golf Vistas subdivision, the 4 bedroom, 5.5 bathroom luxury home includes amenities like an infinity pool and big ocean views.
- The Wailea Golf Vista Sale was one of six total home transactions that closed for more than $2,000,000. The other big transactions included a sale in Makawao, one in the Launiupoko area of Lahaina and three sales in Kapalua.
- The highest priced condo sale in February closed for $4,295,000. The 3 bedroom, 4 bath unit at the Andaz Residences offered top of the line finishing and 2,644 square feet of living space.
- The Andaz sale was one of six total condos that sold for more than $1,500,000 in February. The other sales were located at Montage Kapalua Bay, Honua Kai, Makena Surf, Wailea Beach Villas and Ka’anapali Ali’i.
- The highest priced lot to sell closed for $1,450,000. The big 25 acre parcel is located in the Honolua Ridge area of Kapalua.
- That was one of three lots that sold for more than $1,000,000. The others were located in Ka’anapali Coffee Farms and Launiupoko.
- There were 8 REO or bank owned sales in February. That was down from the 14 bank owned sales last February.
- There were 5 short sale transactions that completed successfully in February. All of them were home sales. That is up modestly from the 3 short sales in February of 2015.
February Pending Sales
The February sales are based primarily on contracts written in December and January. There may be a smattering of quick closes written up in February and a handful of longer term contracts. To get a better understanding of buyer demand last month, we wanted to provide some information on the number of properties that went pending in February.
Homes, condos and land all saw an increase in pending sales over February of 2015. Pending sales for homes were up sharply. Buyer demand remains strong on island for homes. Condo sales were up by the thinnest of margins and land sales saw a more substantial increase.
Maui Real Estate Market Thoughts
It is safe to say that , it was a pretty strong month for the market on Maui. February also was bolstered by having an extra business day since it was a leap year. With home sales and home pendings, February of 2016 clearly outperformed 2015 regardless of that extra day. With condos, things were a little less clear cut. When you subtract the 5 sales on the last day of the month, the increase in sales shrinks to 2. When you subtract the 9 pending sales that occurred on the 29th, the number of pending sales falls below what we saw during February 2015.
There is a lot of variability in activity within the condo market on Maui. There are parts of the market that are doing well like the entry level condo market. The luxury condo market is also doing pretty well. The vacation rental condo market is where we are seeing bigger drops in activity. With the big drop in the Canadian Dollar and the decline of Alberta’s oil industry, we have seen a shrinking pool of buyers. We have also seen growing inventory as some Canadians put their condos on the market. The net result is higher inventories and limited demand.
The home market continues to be strong. Demand is particularly strong for homes priced at or below the median prices of the market. Interest rates have dropped to levels even lower than what we saw before the Federal Reserve raised interest rates. With a tough rental market on island, demand continues to be strong from first time home buyers.
Land saw something of a rebound in February after the really low sales numbers in January. The number of land sales remain somewhat limited compared to other property types. That can make for some dramatic shifts in sales percentage wise with relatively modest changes in units sold.
The heterogeneity of the Maui Real Estate market conditions heightens the importance of savvy and experienced representation. Contact The Maui Real Estate Team today if you are interested in buying or selling property on Maui. We would welcome the opportunity to sit down with you to discuss your real estate needs and discuss market conditions specific to the areas and price points that are of interest to you.
Maui Real Estate Blog
The Year in Numbers, The 2015 Maui Real Estate Statistics
Before we head into February, I wanted to take a quick look back at the 2015 Maui Real Estate market. This is a review of sales volumes, median prices and other notable numbers. I also wanted to address a few questions that arose in my own mind while compiling the statistics. Without further ado, here are the 2015 statistics.
Maui Sales Volume, Median Prices and Total Dollar Volume
There were 1090 homes sold on Maui during 2015 with a median sales price of $580,000. The total dollar volume of homes sold in 2015 was $931,646,757. There were 942 homes sold in 2014 with a median price of $570,000. The 2014 total dollar volume was $825,770,160. That means we saw almost a 16% increase in sales volume, just under a 2% increase in median price and a 13% increase in dollar volume when comparing 2015 to 2014.
There were 1,199 condos sold in Maui County during 2015 with a median sales price of $410,000. The total dollar volume of condos sold was $763,806,071. The 2014 condo totals were 1,201 sales with a median price of $414,750. The 2014 total dollar volume was $755,031,268. That means sales volume dropped two tenths of a percent, median price dropped just over one percent and the total dollar volume rose one percent in 2015.
There were 154 land sales in Maui County in 2015 with a median sales price of $447,650. The total dollar volume of land sold was $136,353,541. The 2014 sales figures for land were 166 sales and a median price of $520,000. The total dollar of land sold in 2014 was $119,330,455. That is just over a 7% drop in volume, a 14% drop in median price and a 14% increase in the total dollar volume.
Notable Numbers from the 2015 Maui Real Estate Sales
- The highest priced home to sell on Maui during 2015 closed for $41,775,000. This was by far and away the highest ever priced paid for a home on Maui. The subject property consists of 6,737 square foot house on 4.23 acres in Makena. More than a few eye brows were raised by a sale that was priced well above other comparable properties in the area. The property was not listed at the time that it sold.
- That was one of 56 homes to sell for more than $2,000,000 during 2015. The 56 homes sold over $2,000,000 was down by 14% from 65 sold in 2014.
- The Makena and Wailea area were busiest part of the island for sales over $2,000,000 with 13 total closes.
- There were 17 beach or oceanfront homes that sold in Maui County during 2015. That was a 29% decrease from the 24 oceanfront sales in 2014.
- On the other end of the spectrum, the lowest priced home to sell in Maui County closed for $94,750. That home is located in the Maunaloa Village area of Molokai. The lowest priced home to sell on the island of Maui closed for $210,000. The three bedroom, one bath home in Wailuku was situated on a tiny 2,370 square foot lot.
- The highest priced condo to sell on Maui during 2015 closed for $8,500,000. The beachfront, three bedroom unit at Wailea Beach Villas has over 2,900 square feet of living space.
- That was one of 91 condos sold for over $1,500,000 during 2015. That exceeded the 83 high end condo sold in 2014 by almost 10%.
- The Honua Kai Resort saw the most high end condo sales activity with 25 closes over $1,500,000. Montage Kapalua Bay was notable with 9 sales over $3,950,000.
- The lowest priced condo to sell closed for $20,000. That was a 1 bedroom, 1 bath unit at Harbor Lights in Kahului.
- The highest priced land transaction to close in 2015 sold for $10,800,000. That was for a half acre lot in the Maluaka Homesites area of the Makena Golf and Beach Club.
- That was one of 6 land sales in this neighborhood for $7,800,000 or more.
- There were 25 total land transactions of $1,000,000 or more in Maui County during 2015. That was up slightly from 24 sales over $1,000,000 in 2014.
- The lowest priced lot to sell in Maui County closed for $20,000 for a 5,351 square foot lot on Molokai. The lowest priced lot to sell on Maui proper closed for 26,000. That was a leasehold lot in the Hawaiian Home Lands in Kula.
- There were 168 bank owned or REO transactions that closed in Maui County during 2015. That was up from the 116 bank owned sales in 2014. That is almost a 45% increase in bank owned sales.
- There were 49 successful short sales that closed in 2015. That is down 49% from the 97 short sale transactions in 2014.
- Of the properties that closed in 2015, 36% were reported to have been cash sales. That is down from 2014 when 42% of the sales were said to have been cash transactions.
Some Questions and Answers About the Numbers
While reviewing the numbers above, a lot of questions came up in my mind. In the paragraphs below, I wanted to address some of these questions and give my thoughts on potential answers.
What drove the increased home sales activity this year?
When looking at the numbers above, homes were the only property type to outperform the 2014 numbers. What drove the increase in sales? There were a couple of factors that came into play. I believe a lot of the activity was driven by on island buyers. Island rents have soared over the last few years. Lower interest rates made the buy vs. rent argument that much more compelling. The threat of increased rates in the near term added to buyer urgency. Evidence of the increased demand from local buyers could be found in the big bump in activity in Central Maui. Home sales in that part of the island were up 33% over last year. The Upcountry area also saw a bump with Pukalani, Kula and Makawao sales up 28,31 and 7% respectively. These are communities that tend to draw on island vs second home buyers. A couple of strong years for tourism helped put local buyers in a better position to afford their purchase.
If sales activity was so strong, why did the median home price only increase 2%?
The first thing to note when answering this question is that changes in median price are not a direct reflection of changes in property values. Median price is also driven by shifts in where sales activity occurs. More high end sales can push up the median sales price while more low end sales can push down the median price. While values increased quite a bit more than 2% in many parts of the market, that was offset by a shift in where sales were occurring. There was a 14% decrease in sales over $2,000,000. As mentioned in the paragraph above, we were also seeing higher levels of activity in more affordable communities around the island. These shifts in market activity helped to offset stronger appreciation in some of the lower and middle priced communities on island.
As a follow up question, one might ask exactly how much Maui home values increased in 2015? That is a really tough question to answer. First and foremost, the rates of appreciation varied largely by price point and location. Homes at or below the median saw the most appreciation due to simple supply and demand. These price points had a much larger pool of buyers and supply was relatively limited. Higher end homes have much more inventory and a much smaller pool of buyers. As a result, upward price pressure has been far more limited.
Why did the condo market see a dip in activity?
If home sales were so strong, why were condo sales down? Condo sales are driven more by off island buyers. I would say the weakening Canadian Dollar played a big part in the decrease in condo sales activity. Maui has seen a significant number of Canadian Condo Buyers since about 2007. That was the first year that the Canadian Dollar was on par with the U.S. dollar. The emergence of Canadian buyers in 2007 helped to buoy the Maui market while a lot of mainland markets were already starting to see big decreases in sales and pricing. They continued to be buyers through the downturn and into the start of the recovery. Around 2013, the Canadian dollar started to dip below par and more substantial decreases occurred in 2014 and 2015. At the time of this post, the Canadian dollar is currently worth 72 cents in American dollars. Less buying power means fewer Canadian buyers. It doesn’t help that a lot of the previous Canadian buyers were coming from Alberta. The weakening Canadian dollar is a reflection of weakening oil prices. The drop in oil prices is a double whammy for buyers from the oil rich province of Alberta.
I know tomorrow is the first of February, but I still plan on putting out more posts specific to how different communities around the island performed during 2015. Those posts will also include some thoughts on what we might expect to see in those communities during 2016. Feel free to contact The Maui Real Estate Team if you have any questions on the numbers above, or if you need assistance buying or selling property on Maui. We welcome the opportunity to be of assistance.