Update: For the latest Maui Property Tax Rates and to compare to other Counties in Hawaii, visit our Hawaii Real Estate Tax Rates page.

In an effort to keep our clients updated on Maui County property tax rates, we are posting the new tax rates for the fiscal year which runs from July 1, 2018 through June 30, 2019. For the most part, tax rates are very slightly adjusted to the previous year but it is absolutely worth noting that there is a new category: Short Term Rental.

Rates are as follows, based on $1K of assessed value:

Single Family Residence:  $2.86 (Homeowner) and $5.52 (Second Home)
Agricultural: $6.00
Hotel/Resort: $9.37
Apartment: $6.31
Short-Term Rental: $9.28
Commercial Residential (see note below):  $4.55
Conservation: $6.35
Industrial:  $7.45
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In an effort to continuously keep our clients updated on micro-market conditions, we present our monthly Honua Kai  market update. This shall encompass new listings on the market, those that have gone into escrow during the month, and closed sales for the month.

New Inventory

The Honua Kai micro-market continues to see increased inventory, particularly after the developer finished its sales and re-sales have dictated values, available inventory, and absorption. The month of May saw a good amount of new listings:

Konea 521 - Studios are in short demand, particularly those on higher floors. As Konea 521 came on the market, even with its large floor plan for a studio (at 615 square feet), the asking price of $975K may have seem above market to some, but…

There is something uniquely extraordinary about Makena Surf. A few notables include its beachfront location in one of the most picturesque beaches in Hawaii, world-class amenities nearby, low density (specially when compared to the newer big resorts), one of the most vibrant sealife epicenters on Maui, and a reputation as one of the strongest long-term equity micro-markets result on Maui. As one of our favorite properties, we keep our finger on its pulse and we share pertinent information timely with our clients/readers. As such, let's discuss the current market.

Active Inventory

Currently there are 2 units for sale: C-205 and G-203, listed for sale at $2.8M ($1,730 per square foot) and $2.445M ($1,862 per square foot) respectively. While C-205 offers…

We are often asked real estate market conditions, whether as a whole or a more granular level. We conduct in-depth reports of various areas and, as such, today we'll present a breakdown of micro-market conditions at Wailea Point. As a preface, when looking at any market, it is best to look at current inventory (both active and escrows) and recents sales.

To start, let's look at a map of Wailea Point, noting all pertinent units.

Active Inventory

Below are description of some pertinent units within the Wailea Point micro-market, to discuss others or further evaluation value proposition, contact us. 

Unit 102 - Arguably one of the most unique condominiums ever offered for sale in Hawaii. The 3 bedroom / 3 bathroom unit sits front row with absolute panoramic…

We are often asked how different subdivisions in Wailea are faring, internally and comparative to the overall market. Today we will discuss Wailea Pualani. As location within the subdivision is critical in assessing value, let's start by taking a look at a map of Wailea Pualani, which details the price per square foot for homes actively on the market, in escrow, and recent sales:

ACTIVE:

Currently there are 11 homes on the market (out of a subdivision consisting of 92 homesites). The average listing price is $2.173M and price per square foot is $659.79. As can be expected, homesites that are 'fronting' the highway (lots 29-32 and 70-75) will have the lowest prices, as is the case with 388 Pualona Nani.

PENDING:

One property in escrow, with

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One of our most popular blog post, the South Kihei Condo Beachfront Analysis, has been in need of some updating for some time. Without further ado, below please find pertinent data as relating to condos directly located on South Kihei's golden mile: Hale Hui Kai, Hale Pau Hana, Kihei Surfside, Mana Kai, and Royal Mauian. Although Kamaole Nalu is located directly in between Hale Pau Hana and Royal Mauian, we are specifically excluding it from our data as it is a leasehold property and its values are significantly impacted by its land tenure. Contact us for more information on Kamaole Nalu. 

The chart below details the price per square foot, which is generally the best metric when gauging value across multiple micro-markets (different floor plans

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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:

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. 

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).

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.

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. 

Not only does Hawaii

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