Maui Real Estate For Sale in the “New Age” of COVID

Maui Real Estate for Sale in the “New Age” of COVID

How to Find the RIGHT Real Estate Deal on Maui 

Information is power. We all know that. But with all of the “tech tools” and everything available to everyone online, how can anyone get a competitive edge? Not to mention a true understanding of what is really happening in the real estate market in Hawaii in order to make wise and prudent decisions?

(Just because a buyer or a real estate agent uses or shows up on Redfin, Zillow or Trulia on Maui does not make you or them an expert...just sayin')

Especially given the new set of never before seen circumstances of a global pandemic such as COVID!

The answer is threefold.

1. Follow the numbers. The numbers don’t lie. But most salespeople do (sorry, it’s just reality) 

Once you get done listening to the sales pitch hype, dismiss the "data" and snuggle up with a cup of your favorite brew and look at my spreadsheet. Then you can figure out for yourself what’s really happening in the Maui Real Estate Market. I have a live Google Sheets spreadsheet with all the essential data you need.

That’s exactly why I create my Maui Market Watch Spreadsheet every Thursday. It’s a concise snapshot of every key market indicator you need to know. I also post every price reduction over 3% that week on Maui for homes, condos and land for sale. But it’s way more than just price reductions. 

I show you the record of every pending sale that closed (along with historical records of closed transitions since COVID began in March of 2020, 2019,2018) Along with a snapshot of Average Days on Market and Closed Sales Volume and as it compares with the same time period last year.

So you can really see the effect Corona Virus is having on today’s market. 

I also provide, the TOP 20 best deals on Homes, Vacation Condos, Long Term Condos and Vacant Land for Sale based on price per square foot and acre. 

I also list every foreclosure for sale on Maui, and I have a property tax calculator. 

And if you want to see pretty marketing pictures and read the hype, I have hyperlinks (pun intended) to the actual listings on my website  http://www.HawaiiRealEstate.ORG

2. Having good “Boots On the Ground” is a must.  Maui is a long way from everything. That’s why most people come here to vacation or live! But when you are buying real estate, you need to be close to the transaction, very close. Before, during and after the deal. Having a dedicated BUYERS AGENT, that does not also work for the seller is essentially the key to winning the best deal and avoiding disasters. 

But alas, on an island with over 1500 agents (10% of the local population) who should you hire? The fancy guy with his picture on every magazine and sign? That’s up to you. 

But I suggest you find someone who is actually a full time agent (we have lots of “moonlighter” agents on Maui, they just never tell you that, until they serve you dinner at Kimo’s or pick you up in an Uber!) 

You also want someone who has years of experience in the type of transaction you are getting ready to go through. Let the newer agents learn with someone else. 

3. It Takes Two to Tango! A good real estate investor/buyer is one who also works hard, pays attention to the market data and is ready to act when the time is right. Active and accurate participation in the process is absolutely necessary for success. 

Also, please understand that as real estate agents, we get inundated with so-called “buyers” 

We spend half of our time (especially on Maui!) sifting through the tire kickers and dreamers. 

If you are in fact the “real deal”, let your agent know that from day one. 

Getting the full attention of your buyers agent is worth it. 

Let them know that you actually have the money, and prove it.

Or get fully pre-qualified for a mortgage. (I do business with two of the top lenders in all of Hawaii - they do so much volume they pass the savings on to you with lower rates and better terms)

Then, actually tell your agent….”You are my agent on Maui.”  Building this loyalty and relationship to one another is critical to a successful transaction. Not to mention, eliminating this doubt insures that YOU get your money’s worth from the commission.

Finally,  here are the two MOST critical data points you must know before making an offer on a home, condo or piece of vacant land on Maui. 

1) Closely analyzing the most recent COMPARABLE sales of similar properties in the last 6 months within 1/2 mile of the home or land you are considering buying or within the actual condo complex. This data is your absolute best ammunition to getting to a good deal. Please email me and I will send you this data. It is very hard to find this information on any public website. You must access via a licensed real estate agents that subscribes to the MLS. We have three MLS systems in Hawaii, and I belong to each one. 

2) Asking the listing agent "What will it take to buy this property and what can you tell me about the Seller and their motivation to sell this property"  You would be amazed how much insight can be gained from these two simple questions.

If your buyers agent is not performing these two strategies prior to submitting an offer, I submit to you, they are not doing the best job possible.

And if you are working with the listing agent as your "buyers agent"....well let's just say you won't be getting the best deal possible.

As you may know, my tag line is “Helping You Learn Everything You Really Need to Know About Hawaii and it’s Real Estate, But You Can’t Find in the Listing”

I create videos of the best homes, neighborhoods, condo complexes, along with things to do on Maui, and things you should know as a real estate buyer moving or making Hawaii your second home. Here are some links for you to check out:

"Top Ten Things You Should Know Before Moving to Hawaii" https://youtu.be/W6EAshzF3eY

"Thing To Do on Maui" https://youtu.be/RlABFGrCIII

"What Most Real Estate Agents Won't Tell You" https://youtu.be/dL_CGvePpp0

"Maui OceanFront Home" https://youtu.be/CgIKvoTmpVE

"Foreclsure Home Tour" https://youtu.be/saRQvArxfo8

If you are a “real” buyer, shoot me a text or an email. I’d love to help you find that right deal. Cell 808-298-2030 hawaiisbest1@gmail.com

Warmest Aloha, 

Eric