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
Aloha! And welcome to another weekly Maui Real Estate Report from Eric West. Here is what's new and developing for the week of July 1st 2020.
(click here for access to all of the details in the report)
We had another 35 price reductions averaging 9% and a total dollar discounting of just under $6M. This is on par with what have been seeing during this Coronoa Virus time period. The two most notable reductions came from 300 Kepa Rd with a $2.7M reduction in price (34% off asking) and 3360 Kuaua Pl with a $500K reduction (24% off asking).
For the week the market saw 55 closings for a total sales volume of just under $44M. By way of comparison, the same week last year had 76 closings for $65M. That’s a
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.
Located in the Lanikeha Neighborhood in Kaanapali Golf Estates
This is Maui living at its finest. Stunning ocean views. Prestigious gated community of Lanikeha. Brand New Construction of this well appointed 4 bedroom 4 bath residence. Just a short Golf Cart ride to world-class resort of Kaanapali and the beach voted the Best in the World! Plus resort style amenities abound with the Lanikeha Clubhouse with a lounge, game room, kitchen facilities, pool complete with a waterfall and hydro-spa, courtyard, fitness & pool pavilions. Be sure to watch both Eric West's video tour of the home AND the video tour of the Lanikeha neighborhood. Click here for all the listing details and current
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)
The Maui County Rules for Your Ohana (Guest Cottage) aka Accessory Dwellings
Are you thinking about building or buying a home or land on Maui and building and enjoying the many benefits of a guest home? Traditionally in Hawaii this has been called an "ohana" which means family! So the idea is to the live WITH your extended family. Cool concept huh?
Well, as we know it's usually better to keep them in a separate building!
All kidding aside, this is NOT something that is really that popular on the mainland,....other than the dreaded "mother-in-law" suite (an over-sized room with a bad kitchen). Either that or in reality most older relatives get carted off to the nursing home and most people hope their kids move as far away as possible! Not here.
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
Aloha and welcome to another edition of the Maui Market Watch. Click to See GoogleSheets Report. If you are new to the blog, my name is Eric West a real estate broker with HawaiiRealEstate.ORG I am all about teaching you everything you need to know about Hawaii and it's real estate. Please be sure to check out my YouTube channel with hundreds of helpful videos about Hawaii and Real Estate.
In this report, I will show you every week all of the 1) New Price Reductions 2) New Homes listed in order of Best Value on Price Per Square Foot 3) New Vacation Rentable Fee Simple Condos 4) New Fee Simple Long Term Condos 5) New Land Listings and finally 6) Everything that has closed on Maui in the last week....all homes, condos