Maui Real Estate Blog
Spreckelsville February 2019 Real Estate Market Update
We are right around the halfway point of peak real estate season on Maui. I thought it was worth checking in on some of the different real estate markets on island. The first on the list is the North Shore neighborhood of Spreckelsville. “Sprecks” is the home of our broker and one of our agents. While it is a small market, it sees strong demand.
The Appeal of Spreckelsville
The appeal of Spreckelsville stems from its lifestyle. The beach and the ocean play a significant component of the lifestyle whether it is taking morning and evening walks on Baldwin Beach or riding big waves on the outer reefs. Golf is a part of some residents lifestyle with the Maui Country Club offering a nine hole golf course, tennis courts, a pool and social events. It is a neighborhood where neighbors wave to each other as they walk the streets.
Recent Market Activity in Sprecks
This post looks at market activity in Spreckelsville during the last six months of 2018 and the year to date for 2019. The map below shows the current inventory of properties for sale and any homes that sold over that period. You can click on the pins on the map for additional details on the properties.
There have been only two sales in Spreckelsville since July 1, 2018. Both of those sales came during the second half of 2018. A few notes on the recent activity.
- Both sales occurred in the Sprecks V subdivision.
- The two sales during the second half of the year were the only Sprecks sales for the entire 2018 calendar year. That is also the slowest overall year of sales since 2010.
- This is the first year since 2010 that there have been no sales of off market homes.
Thoughts on Recent Activity
The bulleted points above illustrate the limited sales activity we have seen over the last 12 months. The last time sales numbers were this low, we were smack dab in the middle of the downturn. That said, the underlying markets in 2010 and 2018 are quite different. While the lack of activity in 2010 was a reflection of buyer demand, I would say 2018 and 2019 are driven by relative scarcity. All the homes in Sprecklesville below $2,000,000 have sold. The remaining inventory of homes for sale is listed substantially higher price points. The days on market for these properties falls within the norms of what we would typically see for multi million dollar properties. The two lots that are on the market are both being resold at list prices substantially higher than their previous sales.
While unlisted properties were a significant driver for sales activity between 2011 and 2017, there were no sales of off market properties during 2018. It may well be that buyers have flushed out most of the potential sellers. This is another way that scarcity has increased sales activity.
The Spreckelsville Outlook for the rest of 2019
Predicting the market in today’s day and age is increasingly challenging. Assuming that overall economic conditions remain somewhat constant, I would anticipate that 2019 will look pretty similar to 2018. I see demand for Sprecks to continue, but inventory is likely to remain the most limiting factor.
Contact The Maui Real Estate Team if you are interested in learning more about Spreckelsville and the Sprecks real estate market. You can search the current inventory of Spreckeslville Real Estate listings on MauiRealEstate.com.
Maui Real Estate Blog
Beautiful Spreckeslville Home
It has been a busy month of new listings for the Maui Real Estate Team. We just brought another home to market in Spreckelsville on Maui’s North Shore. This luxury home features 3 beds, 3.5 baths and 2,680 square feet of living space. There is also a detached two car garage with a storage and office area.
The home in the Sprecks V subdivision is chock full of amenities. Here are a few features that stand out:
- Ten foot ceilings
- Gourmet kitchen with black granite counters, custom cherry cabinets and top of the line appliances
- Imperial plaster walls
- Stained concrete and bamboo flooring
- Panoramic Haleakala Views from the second story
The home builder utilized a number of energy conservation features. The home was constructed with insulated concrete forms. Combined with energy conserving windows, the home stays cooler on warm days. On demand hot water also helps to keep down utility costs.
The location of his home is arguably its greatest amenity. 10 Ulupua is close to Maui Country Club, Baby Beach and Sugar Cove. That translates to convenient access to surfing, kitesurfing, windsurfing, SUPing, tennis, golf, running, beach walks or relaxation. It is hard to find a better location on Maui for an active outdoor lifestyle. The convenience extends beyond outdoor time. The property is less than 10 minutes to the airport and other Central Maui amenities. The shops, restaurants and yoga studios of Paia are a short bike ride from the home’s front door.
This Spreckelsville Luxury Home is offered for $1,742,000. Check out the 10 Ulupua Listing Page for additional photos and details on the property. Contact The Maui Real Estate Team to discuss the property or to arrange a showing. You can search the current inventory of Spreckeslville Real Estate Listings on MauiRealEstate.com.
Maui Real Estate Blog
August 2018 Spreckelsville Real Estate Market Update
Now that we are seven months through the year, it is a good time to check on how some of the different markets around the island are faring for the year to date. First on the list is Spreckelsville. This North Shore neighborhood is a core market serviced by the Maui Real Estate Team. Sales volumes for the neighborhood are typically pretty small, but Sprecks tends to be one of the strongest markets on the island. Spreckelsville is highly unusual in that a disproportionate number of sales are unlisted properties. Constrained supply and high demand leads to buyers and their agents beating the bushes for opportunities.
This post takes a look at the activity for the year to date in Spreckelsville and some thoughts on the market outlook for the remainder of the year.
The map above shows current listings and sales for the year to date in Spreckelsville. Green pins represent active listings. The yellow pin represents a pending sale. The red pin represents a sale. You can click on the individual pins for details on the properties.
Sprecks Sales Activity
When you look at the map above, the first thing that sticks out is the solitary red pin. There has only been one sale for the year to date with one pending sale at this time. The one close was actually a bulk sale of three lots that were not on the market in the E Paepae Ka Puko’a subdivision. The pending sale is a home along Hana Highway in the Sprecks V subdivision. At this point, we are well behind the pace of 7 sales in 2017. It could well be the slowest year for sales in Spreckelsville since 2010.
Why have we seen a dip in activity? When we last checked in on the Sprecks market in March, I anticipated a slow year for sales volume. The reason I gave was a relatively small inventory. The market appears to be following my projections. Low inventory tends to keep sale volume in this neighborhood limited. This has been a year of particularly low inventory. For a good portion of the year to date, there were only two listed properties on the market. Two of the current listings have been on the market for less than 60 days.
The biggest years for sales activity in Sprecks have been when MLS sales are augmented by the sales of unlisted properties. This year, the one and only sale was an unlisted property. That is notable in and of itself, but I am wondering if the pool of potential off market sellers may be thinning. After a lot of years of off market sales activity, I am not surprised to see an ebb in purchases. Perhaps, there isn’t much fruit left to shake out of the tree. I don’t have any definitive evidence to back this up. I may well be wrong. This is just a feeling I have at this point.
Outlook for the Rest of the Year
I would anticipate a relatively quiet rest of 2018 for sales activity in Spreckelsville. As mentioned before, there is one property under contract. That said, the buyer and seller just agreed to terms this week so there are no absolute guarantees it will close. If it does, that will leave three active listings.
The sellers just reduced the price of 2409 Waipua by over $300,000. This is a big, well built, beautiful home right on the golf course. This price reduction makes this an appealing opportunity for executive home buyers. Pa’ani Point is a true legacy property. It includes an acre of oceanfront land with a legal seawall, a home and three additional cottages. At $14,000,000, the pool of buyers for homes at this price point is limited. That said, it is a value to compared to the two sales that have closed on Stable Road over the last couple of years.
You can find more photos and details for the current inventory of Spreckelsville Real Estate Listings on MauiRealEstate.com. As I mentioned above, I wouldn’t anticipate many new listings coming to market or sales of unlisted properties, but you just never know. We will continue to keep our ears to the ground for opportunities for buyers. Contact The Maui Real Estate Team if you are interested in buying or selling in Sprecks. We would welcome the chance to be of assistance.
Maui Real Estate Blog
Pa’ani Point and the Spreckelsville Lifestyle
Makena, Keawakapu Beach and Spreckelsville. What do these three areas of Maui have in common? They are the location of the last five homes to sell on the island for over $15,000,000. All three offer areas of spectacular beach or oceanfront. Makena and Keawakapu Beach are located in South Maui. They also happen to have more second home owners. This is where Spreckelsville is a little different.
Spreckelsville is located on the North Shore between Paia and the Kahului airport. It is an old Kama’aina neighborhood with a significantly higher number of year round residents. Spreckelsville is also the location of our new listing at Pa’ani Point. What is it about Spreckelsville that draws ultra high end buyers away from the gold coasts of South Maui to the North Shore?
If you are willing to pay eight figures for a home, chances are you buying the property for more than just the structures on the land or even the land itself. You are buying it for a lifestyle. That is something that Spreckelsville offers in spades.
Ocean Sports Mecca
The ocean just offshore from this waterfront neighborhood offer a plethora of wind and wave sport options. The area first gained renown for its windsurfing back in the eighties. Now you will see residents and visitors surfing, kiteboarding, SUPing, body boarding and foiling. If you don’t want to take my word for it? Check out this video featuring Kai Lenny.
Kai, the son of MRET agent Martin Lenny, has won multiple world titles in Stand Up Paddle racing and surfing, came in second on the WCT big wave world tour and has competed professionally as a windsurfer and kiteboarder. He grew up in the neighborhood and cites the location as a key reason for his love of and proficiency in the water.
You don’t have to be a big wave surfer to appreciate the ocean in Sprecks. Summer months offer small surf. Even during the winter, there are a number of protected spots where the waves don’t get bigger than head high. If you love to swim, nature offers a fantastic lap pool between the sand and the reef at Baby beach. Quite a few neighborhood kids get their first taste of the ocean in the aptly name Baby Beach. Baldwin Beach offers an excellent spot for morning and evening beach strolls, hunts for sea glass and shells or watching a green sea turtle clamber on to the sand for a nap. Living the Spreckelsville lifestyle means enjoying the neighborhood’s ocean and beach access no matter how you do it.
You Don’t Have to be a Water Person to Love Sprecks
Spreckelsville is a neighborhood where you will see families walking, riding their bikes or their golf cart around the neighborhood. There are a lot of smiles and friendly waves as people cruise around the area. There is a bike path that leads from the neighborhood to Kanaha Beach Park and Kahului. The Maui Country Club is located in Spreckelsville. They have a nine hole golf course and offer a lot of social events for members. The Spreckelsville lifestyle might include a day of surf and turf. Hitting the beach in the morning and playing a round of golf in the afternoon.
Spreckelsville has enough to offer residents that you may not want to leave the neighborhood all that often. If you do want to venture out, there is a lot to explore nearby. Paia town is within biking distance. The town is an eclectic mix of Old Hawaii Plantation and Bohemian Surfer village. Paia has good restaurants, shops and yoga studios. Ho’okipa Beach Park is located about a mile and a half past downtown Paia. It is still considered one of the proving grounds for windsurfing. It is also popular for SUP and surfing. Mama’s Fish House is located between Ho’okipa and Paia. This world renowned restaurant is still arguably the best place to eat on island and undoubtedly the best atmosphere.
If you head west from Spreckelsville, you are five minutes from Kahului. There you will find all of the island’s conveniences including big box stores like Costco, Target, Home Depot and Lowe’s. The Maui Arts and Cultural Center hosts gallery openings, world renowned musicians, theater, dance and more.
Living in Sprecks
When you read all of the attributes above, you can begin to understand why Spreckelsville is such a great place to live. Words don’t always capture the true experience. They can’t quite convey the feeling of walking out your back door with a surfboard under your arm to catch a wave at first light. Words don’t express the joy you experience from seeing the smile on your child’s face as you watch her play in the sand. They simply can’t recreate the multi-sensory experience of watching the sky change from day to night with a soundtrack of surf breaking mixed with the laughter of family and friends.
Pa’ani Point offers a rare opportunity to own one of the true legacy properties in Spreckelsville. With a home and three cottages, there is plenty of room for friends and family to experience the Spreckelsville lifestyle with you. Check out the Pa’ani Point listing page for more photos and details of this oceanfront compound. Contact The Maui Real Estate Team if you have questions on Pa’ani Point or Spreckelsville. Our broker Billy and agent Martin both call the neighborhood home. I lived in Sprecks myself for almost five years. If Pa’ani Point isn’t quite in your budget, you can find all of the other Spreckelsville Real Estate Listings on MauiRealEstate.com.
Maui Real Estate Blog
The Ultimate Maui Oceanfront Compound
The Maui Real Estate Team is proud to bring the Ultimate Maui Oceanfront Compound to market. The property is located in the heart of Spreckelsville just one property down from the beach access to Sugar Cove. Also known as Pa’ani Point, this gated estate consists of an acre of oceanfront land. With a main home and three cottages, the property provides a great space for hosting family and friends. People from all over the world come to the North Shore of Maui for its ocean sports. The ultimate Maui oceanfront compound has it all just offshore from the back yard. You can walk down the steps of the permitted sea wall to access surfing, windsurfing, foiling or stand up paddling. Kiteboarding is just a short distance away on Baldwin Beach.
The Sunset House
The main residence of the Maui Ultimate Oceanfront Compound is known as the Sunset House. It was originally built in 1926 with extensive remodels in 2002 and 2013. It has three bedrooms, a study and four bathrooms. The downstairs of the house is a finished basement with media room, office and the study currently used as a fourth bedroom. The total square footage for the house comes in at approximately 3,200 square feet. The long list of amenities includes a central a/c upstairs and split system a/c units downstairs, a recently remodeled kitchen with with shaker cabinets and Eco by Constantino countertops, a sunroom with stunning ocean views and an oversized outdoor lanai with custom pavers, dining table and hot tub. Want to see more? Take a 3D Tour of The Sunset House to see the interior and to get a better sense of the floor plan.
The Tree House
The Tree house is a two bedroom, one bath cottage with roughly 690 square feet of living space. The two story cottage has a massive lanai that is a great vantage point for watching the surf or the sunset. There is a studio/office with a full bath downstairs. This cottage has a substantial storage area, a workshop and lots of room for all of your ocean toys. There is bamboo flooring in the living and bedrooms with tile floors in the bathrooms. There is a two zone split system a/c unit that keeps the house cool on warm days. Take a 3D Tour of the Tree House to see the interior and the floor plan for this home.
The Palm Cottage
The Palm Cottage has one bedroom, one bathroom and a total of approximately 512 square feet of living space. The home has a single zone split a/c. There is a beautiful ocean view from the walk in shower. See the floor plan and the the interior of the Palm Cottage by taking a 3D Tour.
The Honeymooner lives up to its name. The studio unit with kitchenette is perched closest to the ocean of all of the structures on the property. The outside lanai is a great spot for taking in the surf, sunset or the reflection of the moonlight on the waves. A massive bay window gives great ocean views from inside the home. Take the Honeymooner 3D Tour to see more of this romantic oceanside cottage.
Other Features of the Ultimate Maui Oceanfront Compound
- The property has over 300 feet of ocean frontage protected by the aforementioned legal sea wall.
- A free standing laundry building
- The owners installed 18.3 Kilowatts of grid connected, net metered solar power. There is an EV charger that ensure your highway miles can be powered by the sun.
- Irrigation of the tropical landscaping is supported by a well.
- All Structures feature extended lifespan Presidential Roofing.
The Ultimate Maui Oceanfront Compound is offered for sale for $14,000,000. You can see more photos and details for the property at the Pa’ani Point listing page. Qualified buyers may contact the Maui Real Estate Team to discuss the property or to arrange an exclusive preview. Stay tuned to this blog for more content on this property. This post just scratches the surface of the many attributes of this oceanfront estate.
Maui Real Estate Blog
Spreckelsville 2016 Year End Market Update
What makes Spreckelsville one of the more desirable communities on island? Convenience, access to water sports and beaches, proximity to Paia, proximity to Central Maui and a neighborhood golf course at the Maui Country Club. While demand may be high, the neighborhood sees limited turn over. When you have all the amenities of Spreckelsville, there aren’t many reasons to move. The post below outlines how the Spreckelsville Real Estate market fared in 2016 and gives a few thoughts on what we might expect in the coming year.
The map above shows the current active listings and the 2016 sales. Click on the individual pins for more details on the properties.
Spreckelsville continued to see signs of upwards price pressure during 2016. While volume wasn’t extraordinary, it was largely a reflection of supply. Here are some notable numbers from the 2016 Spreckelsville sales.
- There were five homes and one Sugar Cove Condo sold this year.
- Two of the five homes were sold prior to being listed. That continues a recent trend in the neighborhood that reflects demand for the area.
- The Oli Oli Kai sale was the highest ever price for a property in the North Shore or Upcountry area. 120 Ulupua was the highest ever sale in the Sprecks V subdivision.
- Sales were spread throughout Spreckelsville with one close on Stable Road, one sale in E Paepae Ka Puko’a, two sales in Old Sprecks and one sale in Sprecks V.
What will 2017 bring for this in demand North Shore neighborhood? Supply is going to be a limiting factor with only four active listings currently. If all four listings were to sell close to their current asking prices, they would be a testament to rising values. All of the listings would be a record of some kind for their property type. 600 Stable Road is priced higher than any previous home sale on the North Shore or Upcountry. 0 Paani is priced above any other lot to have sold in Sprecks. 204 Kealakai would be the highest priced non-oceanfront home sale in Spreckelsville. 2464 Waipua would have the highest cost per square foot for any home in Sprecks V and the second highest sales price in the neighborhood.
The Spreckelsville area is near and dear to the Maui Real Estate Team. Our broker Billy and agent Martin both call the neighborhood home. Either one would welcome the opportunity to talk to prospective buyers about their experiences living in the area. We keep a close eye on the market and an ear to the ground for unlisted properties. If you are a Sprecks resident considering selling or just wonder what you home might be worth in the current market, we would be happy to provide for a free evaluation of your home’s value and to discuss how we might be of assistance. Contact us today for assistance. You can see the current Spreckelsville Real Estate Listings on MauiRealEstate.com.