Maui Short Term Vacation Rentals - Condos and Homes
Investment Pitfalls and The Minatoya List
This is a hot topic across the entire vacation rental market worldwide and Maui is no exception. The goal is basically to keep vacationers and other short-term visitors in the hotel districts and out of neighborhoods for various reasons ranging from crowded parking, unruly behavior, affordable housing shortage for locals, and loss of employment opportunities for hotel workers and many more. Threats to reassess properties for tax purposes at sky-high commercial rates can discourage homeowners from investing in short term rental properties. According to a recent poll over 55% of Maui residents oppose short term rentals in their neighborhoods. But all is not
The ZERO Effect of COVID on the Maui Real Estate Market
Aloha! And welcome to another weekly Maui Real Estate Market Watch Report from Eric West at Keller Williams in Whalers Village.
Here is what's new and developing for the week of August 24th 2020. To see the entire Google Sheets spreadsheet please click here
The big question people ask me every week…”How’s the market doing on Maui?” Many people are expecting a major downturn in demand and subsequent 20-50% reductions in asking prices.
Not so much.
In a nutshell, the Maui Real Estate Market is holding steady, very steady.
Let’s compare the last 8 months of 2020 with the exact same time period in 2019.
Now keep in mind, in 2019 the market was in FULL swing with a FULL capacity
Aloha! The Maui Real Estate market is interesting to say the least. New Listings have decreased 15.5% for Single Family homes and 18.8% for Condominium homes. So inventory could in fact become even leaner than it was pre-COVID. And "Days on Market" increased 13.3 percent for Single Family homes and 28.7 percent for Condominium homes. Buyers have been quicker to return to the housing market in force than sellers, who have been showing a bit more reluctance to list their homes than is typical for this time of year. But trends are improving and as states and localities continue to moderate their COVID-19 policies, real estate activity is expected to continue to improve in the coming weeks.
Aloha and Welcome to another edition of the Maui Real Estate market watch!
The purpose of this report is to give you the absolute best tools to shop, research and ultimately buy or sell a property on Maui Hawaii. Here is a direct link to the report. (Scroll down to see embedded spreadsheet below)
This weekly report is a fully interactive, dynamic Google Sheets spreadsheet that is updated weekly with live links to all of the data. It is both a snapshot of what the market is doing right now with the most recent price reductions along with the top 20 best deals for homes, land and condos (based on the best value price per square foot or price per acre), along with new properties (homes, condos and land)
Aloha! And welcome to another weekly edition of the Maui NOW Market Watch. Click here for a link to the Google Sheets Report. The Maui Real Estate blog where you can find the best deals, literally as they hit the market every week. In the report below (dynamic interactive shared Google Sheets Spreadsheet) you will find all of the most new price reductions (in order of severity), and the best deals (in order of lowest to highest price per square foot/acre) of all the new fee simple condos for sale (both short and long term), single family homes for sale and new vacant land listings on the entire island of Maui.
Last week we only had $2M (vs $4.5M the previous week) in price reductions with an average of 8% which is a 3% DECREASE in the average price