Market Statistics

Found 29 blog entries about Market Statistics.

One of the first questions that a prospective purchaser of Maui real estate must ask is: what are the property tax rates? As many readers of this blog and our clients know, Maui enjoys some of the lowest tax rates in the US, particularly for homeowners. Now that the new tax rates have been made public for the 2017-2018 fiscal year, we are posting them below. For the same of comparison and context, the chart below details the tax rates for the previous years as well:

maui property tax rates 2017

As noted, tax rates were reduced slightly from 2015-2016 going into 2016-2017, yet increased for the current 2017-2018 year. Properties are classified based upon the highest and best use and those which have an approved homeowner exemption are classified as Homeowner.  Condominiums are

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Hoolei is one of our favorite properties on Maui, with its superior build, large floorplans, quiet setting, yet central location near all that Wailea has to offer - from 5 star resorts, to critically-acclaimed restaurants, to world renowned spas, to championship golf courses and much more. As such, we keep a close eye on micro-market conditions. Below is an easy-to-absorb graph of the Hoolei market with pertinent sales data based on location within the property. 

hoolei wailea infograph

For the latest information on current year-to-date sales and to discuss Hoolei condos for sale, contact us by filling out the form below or call 808.385.5034 (Alex) or 808.392.6657 (Ryan).

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As one of the most active micro-market in South Maui, the Hokulani Golf Villas property receives a significant amount of interest - and it can be certainly argued to be well-merited, as it seamlessly combines the convenience of condominium living with the privacy of a single family home, all while presenting a product that meets the demands of today's buyers: open floorplans, superb craftsmanship in construction, an ideal location, and a competitive pricing structure.

hokulani golf villas map

With that, we want to keep our readers and clients well apprised of the current state of the market. To summarize:

* Active - Currently there are 7 units on the market at a median sales price of $1.149M and an average price per square foot of $508. Of those, the best values are

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One of the most important questions a homeowner should ask is the property tax liability. Yet comparing property tax rates across the country can be incredibly daunting as these taxes can be assessed by multiple agencies with vastly different formulas. A recent study by CoreLogic reiterated that Hawaii enjoys the lowest median property tax rate in the country at 0.31%, which is significantly lower than the national median of 1.31% and it is merely a fraction of the nation's highest, with Illinois 'leading' at 2.67% - please refer to the chart below. It is worth noting that the actual amounts paid are a function of assessed values, which are determined at a local level using varying algorithms and automated-valuation models. 

hawaii property tax rates

Not only does Hawaii

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Year over year, the high-end sector on Maui is enjoying significant growth over 2014 - which many saw as an 'off' year in the luxury sector of Maui real estate. But the growth and extent to which this niche has exploded this year has been uncharacteristic and unexpected. As such, the record-breaking sale of the subject Makena luxury home for $41.775M has raised many eyebrows due to its significance and unparalleled value. 

keauhou at makena

The subject Keauhou at Makena luxury estate was NOT listed for sale on the Multiple Listing Service and although we have seen it from a distance being built over the past few years, very little information is factually known about the home or its owners. As per public records, the property consists of a single-level 6,737 square

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One of the most common questions we hear from clients are variations of "Is now the time to buy" or "Is now the time to sell". In general, there are a plethora of variables to take into account in order to gauge the viability of a potential sale and its benefits to the seller(s), as each case is as different as the principals conducting them. However, taking most factors into account without going into specific circumstances, for foreign nationals who are seeking to liquidate their Maui real estate, now presents a particularly strong opportunity to sell while currency exchange is favoring the USD. 

Canadians

maui real estate canadians

Due to the (relative) proximity, safety, unique culture and its incredible tropical beauty, Canadians gravitate to Maui - and their

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Today's question comes from a client who has been exploring the Wailea real estate market for some time:

Question: It seems like the Wailea condo market is really down from last year, are values going down keep up with this decrease?

Answer: Although to some the market may seem to have slowed down, year over year all the metrics that we use to measure market activity across are reflective of a micro-market. Below is a chart comparing the Jan-May timeframe of 2014 to that of the current year - the average sales price slipped slightly from $1.564M to $1.47M, while the median sales price saw a slight increase from $1.01M to $1.07M. However, a key metric worth pointing out is that sales increased by a whooping 30.2% from 43 sales to 56. Total sales

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wailea beach villas

On April 14th, two significant sales recorded worthy of note for anyone following the Maui luxury real estate market. The first is a beachfront home on Maui's famed Keawakapu Beach. The 2 bedroom / 2 bathroom cottage at 3214 South Kihei Road is in fair condition, but the $7.7M sales price is reflective of the location on one of the most sought-after locations in Hawaii. The last sale in this neighborhood was a month ago for $14.5M at 3070 South Kihei Road and was based on the larger square footage.

The other sale that recorded today that raised some eyebrows is the sale of Wailea Beach Villas G-302. Sales at the Wailea Beach Villas have been stagnant, with only 3 sales recording in the past 15 months - and with 8 units currently on the market, one

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In the past years, we have received continuous interest in Kihei Villages condos for sale - after some preliminary questions, the biggest question is whether to opt for a ground level or a 2nd floor unit. There are tangible differences, both in terms of lifestyle value proposition and fair market value. 

In the interest of providing information to our clients and site visitors, below please find charts detailing the price per square foot of every sale at Kihei Villages in the past 24 months, broken down by floor level. 

kihei villages sales chart

As noted above, there is an absolute price difference in first floor versus second floor (approx. 7.5% historically over the trailing 24 months). As a caveat to potential buyers, under the current absorption of 3.83 units sold

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The Maui real estate market continues its upwards trends with some micro-markets such as Honua Kai experiencing better than average valuation improvements, while others are still trying to catch up. As such, we are often asked 'how is the market' doing - and while there is no blanket answer to accurately describe every micro-market, there are discernible trends in that can be ascertained when analyzed in context. Is there one to be found in the South Kihei beachfront condos?

With a strong emphasis on the Kihei condo market, we diligently keep our clients informed of new inventory, closed sales, community information, etc. and through time and expertly analysis, trends become evident. There is a definitive difference (both in terms of valuation and

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