May 29th, 2008
In the last week, two Maui oceanfront homes have sold. 4851 Lower Honoapiilani Road in Kahana, almost new, over 7100 square feet of total living space on a half-acre has sold for $8.7 million or $1225 per square foot. That home had been on the market for three years. Home number 4 in Maluhia at Wailea, 4800 square feet, immaculate finishes, sold for $8.950 million or over $1800 per square foot. That home had been on the market for nine months. Two more Maui oceanfront homes have been placed under contract in the past week as well. House number 6 at Black Sand at Makena is a brand new, 5500 square foot home and is listed for $9.2 million. A very small oceanfront home in Hana, listed for $1.3 million has also gone into escrow.
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May 29th, 2008
The Department of Business, Economic Development and Tourism has released the tourism results for April and they are dismal. Maui visitors declined by 7%, 9% by air, and the ATA and Aloha bankruptcies were fully felt. Maui lost 24% of its scheduled air-seats in April. Canadian visitors increased 45%. Total expenditures fell 8%. For details, contact us.
May 24th, 2008
Every year, Dr. Beach, Stephen P. Leatherman releases his list of the top ten beaches in the United States and almost every year we affectionately chide him for his selections. This year is no different. Dr. Beach has declared Caladesi Island State Park in Clearwater Florida is the best beach. NONSENSE! Look below for America's best beaches!
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May 22nd, 2008
3911 Honoapiilani Highway sits just off the highway in Maalaea. It is a 1400 square foot home, three bedrooms with astonishing views and ocean access. You are as close to the Pacific as you have always wanted to be. The home is in good condition. Here's the best part, it can be had for $1.6 million. But it won't last at that price. Contact us for more details.
May 19th, 2008
Today we are announcing a huge price reduction of one of our Makena oceanfront home listings. 6980 Makena road has been reduced to $4.75 million from $6.385 million.
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May 16th, 2008
At a meeting on Wednesday, the Maui County Council set the property tax rates for Maui real estate for the 2008-2009 fiscal year. The rates are as follows:
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May 15th, 2008
A phenomenon regarding Maui real estate we have been describing over the past several months, the prominence of the Canadian buyer was a lead story in today's International Herald Tribune. While the article doesn't really add anything new, it does make a couple of points that are worth restating:
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May 15th, 2008
In today's Wall Street Journal there is a story on how the returns on remodeling have changed. Some snippets and their implications for Maui real estate below:
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May 7th, 2008
In today’s Wall Street Journal, an article cites Wellesley College Professor Karl Case calling the bottom of the national housing market:
But new housing starts have at last slumped below the seemingly magical one million mark. That happened in March. Every time that has happened in the last 50 years, it proved to be the bottom of a recession.”It is really remarkable how much where we are today looks like the bottom we’ve had in the last three cycles,” Mr. Case says. “Every time we’ve gone below a million starts, the market has cleared at that moment.”
Is he right?
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