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In the last two weeks we have seen several important closings along the Maui oceanfront. Two beautiful homes in Makena sold for $19.9 and $17.5 million respectively. A front row Wailea Beach Villas sold for over $12 million. A double Wailea Point unit sold for just under $10 million.
A breathtaking, 1.5 acre oceanfront property in Makena with approximately 5000 square feet of living space has sold for $19.9 million. This home is just south of the Kea Lani Hotel and had been listed for $27.5 million. This is the highest price paid for a piece of residential real estate on Maui in several years.
Maui, for the first time since 2005 has seen back-to-back months of increasing tourism!. February visitors to Maui increased 7% over February 2009! The Western US numbers were up just under 7% and Canadian numbers were up 25%!
After a dismal 2009 in which total visitors coming to Maui declined by 1.4% January saw a rebound. Over 159,000 people came to Maui in January, an increase of 2.4% over January 2009. Visitors from the western US increased 5.5% and for the first time in quite a while Japanese count was also up, though Japanese represented only 3% of all visitors. The Canadian impact continues to be large, up almost 14%.
One of the highlights of the year in the financial world is invariably Warren Buffet's letter to the Shareholders of Berkshire Hathaway. It is always thoughtful, open, candid and enlightening. The recently released 2009 letter is no different. Specifically the letter talks about Clayton Homes and the housing industry generally. Here is an excerpt:
After all the concern about Maui being in the path of a tsunami generated by the Chilean earthquake it turned out to be a non-event, just like in 1994.
While Tom and Sean have the only residential oceanfront closing along the Maui Oceanfront this year, things have really picked up in the last ten days. 4472 Makena Road, listed for $27.5 million is under contract. If that closes anywhere close to that number it will be the most expensive residential sale ever on the island of Maui. In addition a small home on Halama Street in Kihei has gone under contract. Finally, it is a condominium, but a big one. A Wailea Beach Villas Villa unit in the D building has sold for $6.8 million.
2010 Maui Oceanfront Real Estate Report Now Available!
| Featured Properties |
C-106 Makena Surf - Reduced $2,449,000 Learn More | 7640 Makena Road $6,495,000 Learn More |
B-102 Makena Surf $3,380,000 Learn More |
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