Maui Real Estate-So when was the bottom?
Last Friday our longtime Hawaii Economist, Paul Brewbaker spoke at our General Membership meeting (for Maui realtors) at King Kamehameha Country Club. He can bring what can a be a dry session of numbers, statistics and reports with humor and clarity. So when he was referring to the bottom of market, his reply was “dude, you should have been here yesterday”! The Great Recession hit in 2008, Paul Brewbaker came back to speak to us in 2010 and told us the “breakout moment” was just around the corner. And he was right! Read the full Maui News article here http://www.mauinews.com/page/content.detail/id/574438.html
It appears that the bottom of the market was around 2009-2010. However, deals could also be had in 2011, 2012 in especially in the the higher end market. It was all about finding the right property and a motivated seller. I will mention that even now there are still some incredible deals. It takes persistence and a realtor willing to go the extra mile. So don’t feel like you missed the boat if you were one of those who stayed on the fence waiting for someone to call out “bottom”, you still have time and choices but one thing is for certain, if you see a bargain, you must act quickly! However, some bargains are disguised under a high price. Only when an offer has been made can a potential selling price be revealed. That is why I say it takes persistence and a great realtor. Do keep in mind however, that a dose of reality needs to be swallowed. We are Maui, a highly desired island, not just nationally but internationally. Our land is scarce, ocean views abound and the trade winds comforting.
I have clients who are so astute with real estate that they have bought multiple properties. They did not try to figure out if it was the “bottom or not” but they looked for good values in the specific category of choice and when they found it, they acted. Looking back now they were incredibly smart. So if you dreamed of owning on Maui, and have the means to do so then don’t wait any longer, take the leap and find the opportunities.
Below are 4 truly incredible Maui Real Estate Properties for sale. Each is offers something rare and unique. I will give you my honest personal take on these properties.
Kai Malu #32B (155 Kai La Place. Wailea) This condo is beautiful! The sellers take care of this condo meticulously! It feels brand new! It has over 220K worth of upgrades. This unit is scarce because it is right next to a vacant lot (nothing will be built there- only one other unit among 150 units has a vacant lot next to it. ), so for a condominium complex, this lends itself to a rare sense of privacy. It feels more like a home versus a condo, but of course, here you don’t have to take care of your lawn or spa. So all you need to do if you want to travel is to lock your doors! This unit also has both golf course and ocean views. So if you want a luxuriously appointed/upgraded condo with golf and ocean views with its own hot spa off your master bedroom, then this condo is for you. I love showing this unit. Pride of ownership and the luxurious upgrades for Kai Malu 32B will be a wonderful treasure for the next owner.
It is an honor and privilege to present such a fine property from great owners! For more info and pictures go to www.BestOfKaiMalu.com
Kai Malu is one of newest condos on Maui. It has probably one of the nicest pool/spa clubhouse on Maui. The developer strategically put the Pool/spa clubhouse in a place that captures breathtaking ocean views, so every owner could enjoy it. They also have wet/dry saunas, fitness center and bbq pavilion.
Wailea Point #2303– Wailea Point Condos were the highest selling condos in the first half of 2013 (luxury category). Six in total have sold (total sales volume= $17,700,000). Highest sale price in 2013 is $3,925,000, however, there is a unit pending in escrow at list price of $5,300,000. Keep in mind there were units here that sold for well over $10,000,000 historically in this complex. This complex is direct ocean front (right in between the Fairmont Ke’alani Resort and Four Seasons Resort and world class crescent shaped beaches). So What makes Wailea Point unit 2303 so special. Wailea Point 2303 IS currently THE LOWEST PRICED unit at this highly coveted and desirable complex. ADDED Bonus Wailea Point unit 2303 has great ocean views!!! Need I say more? Wailea Point condo complex pride themselves on privacy and gorgeous grounds. It is one of the few gated AND guarded complexes on Maui. It is the only condo complex in Wailea to have their own tennis courts (due to Wailea Tennis club, other complexes cannot have a tennis court) AND it has separate boat garages. These are sold separately from the units (if available, as they do not come available often). Although each unit does have its own single car garage. This is a great opportunity for someone who wants to own an oceanfront condo at this great price. For more info and pictures go to www.WaileaPointCondo2303.com
425 Manawai Place, North Shore– This property is very unique and so special. This is nearly 5 acres of gorgeous ocean view land in Haiku. On the Oceanside of Hana Highway. Why is this so special? Paved road (rare for Haiku especially ocean side of highway), very upscale neighborhood, tropical gorge on one side of property (providing privacy), has its own water well, near 1000 sf luxury cottage, over 500 sf pool cabana (feels like another luxury cottage), pool/spa, 3 car detached garage, gated, palm tree farm plan (potential income and reduces property tax), potentially subdividable (wow!), home site for the main dream home (if wanted or needed) beautiful blend of tropical nature, and manicured lawn~ truly rare! Again, just like my other properties, the owners are meticulous and conscientious. They took this property from vacant pineapple land and made it what it is. It took much love, dedication, time, energy and money to do this. Amazing treasure. I will be literally so envious of the lucky buyer who ends up owning this property.
If you build a main house here on the allotted site (offering outrageous ocean views) you will actually have an extremely rare property on Maui. You will have a gated estate, with gorgeous abundantly producing grounds and 4 separate quality buildings. That is rare because alot of Maui’s zoning simply does not allow for that. You will have a property with beautiful ocean views, and privacy. Nearby world famous surf spots. For more info and pictures go to www.MauiNorthShoreParadise.com.
561 Anekona Street, Wailuku Country Estates- This property is one of a kind! Close to town, airport, hospital, yet worlds away. One steps onto this incredible special property and you have now escaped into your very own private retreat. So special is this property -561 Anekona Street- that Maui No Ka Oil (means “Maui is best”) magazine wrote about it last year. Read here: http://www.mauimagazine.net/Maui-Magazine/July-August-2012/East-Meets-Zest/
So if you want a stunning ocean view set high above the street, award-winning architecture, Koi Pond for serenity and aquaponic garden system, abundant gardens of orchids, passion fruit, tomatoes, ginger to pomegranates and soo much more, then 561 Anekona is for you. This seller has put her passion, her educated studies of Feng Shui and design to create such a special property. When I spend time on this property, I truly feel a sense tranquility and beauty. Walk into the gardens and you feel like you are in a tropical Monet Painting. How can 2 acres produce so much! This home is spacious (3002 interior sf) yet sooo intimate. So beautiful and yet so practical (for example a laundry chute in the master bedroom walk in closet that goes right into separate laundry room). Every room has a door to the outdoors. The garden inspires you to cook fresh and organic. A Thermador gas range and wok assists you with your inspirations. The long and winding driveway. No boring straight driveway, but a driveway that intentionally meanders to the home creates a sense of guided meditation. I could go on and on. There will be a new owner for this home and this owner will be incredibly fortunate that they become of recipient of such a well intentioned, beautifully designed and much loved property! For more info and pictures go to www.MauiOceanAndGardenEstate.com
So you can see that incredible properties are on the market for sale here on Maui, for each buyer and their unique needs and taste. I believe there is a wonderful property awaiting you. Should any of the 4 properties listed above peak your interest, then give me a call for your private showing 808-276-1832 or email me at Jeannie@JeannieKong.com. It would be an absolute pleasure to show you these outstanding Maui properties!!!
To search all Maui Real Estate go to www.LivingOnMaui.com
A hui hou (until we meet again)