Understanding the difference between leasehold property in Hawaii and fee simple meaning is actually very simple! (Scroll Down to See Video) With leasehold you DO NOT own the land the home or condo sits on. With fee simple you do! A leasehold property will have an additional monthly lease fee that you have to pay to the land owner. (This fee typically goes up over time.) The lease is renegotiated every 10 years (typically) Leasehold properties are also very difficult to finance and are usually all cash deals. Leaseholds are also much less expensive than fee simple properties because of this extra cost and the risk associated with not owning the land. The good news is the many leasehold properties are converting to fee simple. Which simply means that the…
We all have a story. Mine just happened to begin at The Kuleana Resort in West Maui. This was the first place that I really called home in Hawaii and it's quite frankly where I fell in love with the Island of Maui. I decided to make my home in Hawaii and move my wife and 4 boys over from Colorado. Since then we've had a ball selling real estate all over Maui, but really focused on West Maui homes and condos. I've had clients purchase condos on the West side and some I have even managed for short term rental. The Kuleana has always held a special place in my heart. It's almost like a first kiss that you never forget. The memories I made at this resort will not only be cherished but also represent the greatest risk and reward that I ever…
Here is my “Top 10 List” of what you need to know before selling your condo on Maui. I believe this is a great checklist to have on hand when working with a Maui Real Estate agent/realtor.
#1 MANDATORY - Get professional photos, along with a 2-3 minute video and aerials. This is an absolute MUST. Don't you let an “el-cheapo” agent take pictures with their iPhone or a point and shoot camera. It will result in pictures that are dark and simply don't look good. (And yes, I see them show up every day on new listings!) Just look at how much commission they are charging and ask yourself "can they afford a few hundred bucks?" Also, DO NOT assume they are going to do it - just because you asked! Tell your newly hired star agent that you would like…
Maui Real Estate Statistics Sales for February 2017
Homes, Condos, and Vacant Land
Maui Real Estate Statistics Sales for January 2017
Homes, Condos, and Vacant Land
Maui Real Estate Market Comparison 2016 versus 2015 Update.
Here are the latest numbers for 2016 Maui Real Estate market in review versus the year 2015.
Residential Single Family Home sales on Maui, Hawaii were basically flat. Slightly down in terms of overall units sold. Down 1% from 1090 sales in 2015 to 1076 residential sales in 2016. However, the median sales price however rose 10% from $580,000 to $636,000. The total dollar volume in sales for 2016 was up 12% from $932 million to slightly over $1 billion in 2016. The median days on market basically stayed the same at 115 days.
Condominium sales in the Maui real estate market in 2016 versus 2015 were actually up 10% from 1189 units sold in 2015 to 1310 units sold in 2016.…
|Status||MLS #||Subdiv||Address||Lot #||Acres||L Price||Sold Price||Close Date||DOM|
|ACTIVE||370440||The Ridge at Kulamanu||121 Kulamanu Cir||0.276997||$359,000||196|
|ACTIVE||371515||Kulamanu||15 Uau Pl||Lot 276||0.291299||$359,500||103|
|ACTIVE||372715||WAIAKOA FARM LOTS||41 Kahoea Ave||0.623002||$375,000||22|
|ACTIVE||368016||Yokote Subdivision||0 Kukia Pl||Lot 126-A-1-D||0.503994||$375,000||398|
|ACTIVE||371037||Kulamanu||35 Kapalulu Pl||0.23999||$389,000||136|
|ACTIVE||372156||0 Kekaulike Ave||2.35||$420,000|
|HONUA KAI - HOKU LANI|
|MLS||STATUS||UNIT||LIST PRICE||SOLD PRICE||SALE DATE||BEDS||BATHS||SQ.FT.||DOM|
CONDOMINIUM PROPERTY REGIME BASICS - - Credit Jakob K. Worsner Attorney at Law 808-877-8877
What is a Condominium Property Regime "CPR"?
• A CPR is a legal mechanism (Hawaii Revised Statutes 514B) for dividing a single property …
into 2 or more separate UNITS OF OWNERSHIP, typically with attached "appurtenant"
exclusive-use LIMITED COMMON ELEMENTS (yard areas).
• Each CPR unit has its own seperate fee simple ownership (deed), mortgages, encumbrances,
and CPR TMK NO. (which is found at the end of the property Tax Map Key No.).
• Each CPR unit is separately transferable, saleable, and leasable, and each unit's owner(s) pay
for their unit's own insurance, property taxes, improvements, expenses, etc.
CPR PROHIBITED: Occasionally a property
The Montage and Residences at Montage
The Montage and Residences at Montage is possibly the finest five-star plus resort in all Hawaii. It is located directly in front of Namalu and Kapalua Bay on the West side of Maui Hawaii. These are two of the most sacred and visually stunning bays in all of Hawaii.
This Maui Real Estate project was successfully completed in 2009. It consists of over 24 Ocean and Beachfront acres with two hotel buildings and four residence buildings (with a total of 54 owner condo units.) Thanks to a major multi-million dollar renovation (the property used to be known as the Kapalua Hotel) it now truly represents THE pinnacle of luxury on Maui.
There are a few things about the Montage make it truly stand out from other…