Eric West Maui Real Estate Watch

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U.S. sales of existing homes recently fell to a 13-year low, dropping 2.0% month-over-month and 15.4% year-over-year as of last measure, accordingto the National Association of REALTORS® (NAR), as surging interest rates and elevated sales prices continue to make homeownership unaffordable for many prospective buyers. Purchase activity is down significantly compared to this time last year, but rising interest rates are also keeping many current homeowners from selling, causing inventory to remain at historically low levels nationwide. New Listings decreased 7.0 percent for Single Family homes but increased 6.5 percent for Condominium homes. Pending Sales increased 1.9 percent for Single…

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Hawaii’s Breakfast

Hawaii is known for its stunning beaches, beautiful landscapes, and diverse cuisine, making it a foodie's paradise. One of the best ways to start your day in Hawaii is by enjoying a delicious breakfast. In this blog post, we'll explore some of the best breakfasts on each of Hawaii's major islands.

Oahu

Koko Head Cafe - Located in Honolulu, Koko Head Cafe is known for its innovative and eclectic breakfast menu. Try the Cornflake French Toast or the Shoyu Pork Eggs Benedict for a unique and flavorful start to your day.

Bogart's Cafe - This cozy cafe in Diamond Head serves up delicious breakfast classics with a Hawaiian twist. Try the Loco Moco or the Banana Macadamia Nut Pancakes for a tasty and filling breakfast.

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Maui Real Estate Statistics 2022 December Year End

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December 2022 was a turbulent year for the US housing market, as inflation, soaring interest rates, and elevated sales prices combined to cause a slowdown nationwide. Affordability challenges continue to limit market activity, with pending home sales and existing-home sales down month-over-month and falling 37.8% and 35.4% year-over-year, respectively, according to the National Association of REALTORS® (NAR). Higher mortgage rates are also impacting prospective sellers, many of whom have locked in historically low rates and have chosen to wait until market conditions improve before
selling their home. New Listings decreased 8.6 percent for Single Family homes and…

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Kapalua Ridge Villas 360 Virtual Aerial Tour

 

The Kapalua Ridge Condos are nestled in one of the most desirable areas on Maui and yet it enjoys peace and quiet with no through traffic and buildings spread out over a much larger area than most of our condominium developments. Check out what is for sale below and plan to visit soon to experience this island paradise. Click Here to see all recent sales and all current active listings for sale. 

Please Enjoy this Kapalua Ridge Villas 360 Virtual Aerial Tour

 

Three of Hawaii's greatest beaches are located at the Kapalua Resort, which is only a short stroll from the villas. A number of accolades for quality have been given to one of these beaches, Kapalua Bay, including "Best Beach in…

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Maui Real Estate Statistics September 2022

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The U.S. real estate market continues to slow as we move into fall, as rising consumer prices and higher mortgage interest rates squeeze homebuyer budgets and cool activity. With inflation showing little sign of abating, the Federal Reserve implemented another 75-basis-point hike in September, marking the third such rate increase this year. The cost of borrowing has reached multi-year highs on everything from credit cards to auto loans in 2022 as mortgage interest rates topped 6% for the first time since 2008, causing existing home sales to decline for the seventh consecutive month. New Listings decreased 39.3 percent for Single Family homes and 52.7 percent for…

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Kapalua Bay Villas - The Sweet Spot of West Maui Condos

The Kapalua Resort community is located in this region of Maui, which the ancient Hawaiians called "Honokahua." In all of the Kapalua Resorts, the Kapalua Bay Villas were the very first high-end vacation condos to be built. They are among the most immaculate and lavish villas in West Maui, consisting of 141 condominiums located directly between (and a very short walk) to Kapalua Bay and Oneloa Bay (aka Ironwoods Beach). The Bay Villas literally have some of the best breathtaking Pacific Ocean vistas in all of West Maui, as well as front-facing views of the islands of Molokai and Lanai. Private lanais are included in each property, which range in size from 1,100 to 2,000 square feet.

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Ritz Carlton Maui

The Ritz Carlton Residences in Kapalua, which opened in 2009, is made up of 84 premium residences scattered across 24 beautiful ocean front acres in the famed Kapalua Resort region. Residence owners benefit from exclusive privileges and exclusive access to opulent amenities within a dedicated wing of the Ritz Carlton Kapalua hotel, which also offers breathtaking ocean views. Each of these available 1- and 2-bedroom condo suites features roomy living areas, a kitchen, and a private veranda for the potential buyers. These are full ownership homes that give their owners the option to make money by renting out the space while they aren't using it themselves.         In my 11+ year career of selling short-term vacation…

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Maui Real Estate Statistics August 2022

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Summer 2022 has been a season of change for the U.S. real estate market. With housing affordability at a 33-year low, existing-home sales have continued to soften nationwide, falling 5.9% month-to-month and 20.9% year-over-year as of last measure, according to the National Association of REALTORS® (NAR). Pending home sales have also continued to decline, while new listings have steadily increased, with unsold inventory reaching 3.3 months’ supply at the start of August. The pullback in demand has been particularly hard on homebuilders, causing new-home sales and construction to slow. New Listings decreased 26.7 percent for Single Family homes and 40.1 percent for…

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Maui Real Estate Statistics July 2022

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The U.S. housing market has continued to cool, as rising mortgage rates and record-high sales prices have stifled affordability, weakening demand and pricing out a multitude of buyers. Nationally, median household income has failed to keep pace with increasing mortgage payments, with the costs of buying a home about 80% more expensive now than they were just three summers ago, according to the National Association of REALTORS® (NAR). As more and more prospective buyers find their home purchase plans delayed, many are turning to the rental market, where competition has intensified due to increased demand.  New Listings decreased 38.7 percent for Single Family homes and 16.9…

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2022/2023 Maui County Property Tax Rates

Here are the updated rates for this coming fiscal year. If there is any change in rates, last years rates are noted for reference. All rates shown below are per $1,000 of assessed value.

Please enjoy my Maui Property Tax Calculator to figure out your exact tax liability for each property type. Click www.MauiPropertyTax.ORG

 Owner Occupied

  • Tier 1: up to $1,000,000 Formerly $2.41 now $2.00
  • Tier 2: $1,000,001 to $3,000,000 Formerly $2.51 now $2.10
  • Tier 3: more than $3,000,000 Unchanged $2.71

Non Owner Occupied

  • Tier 1: up to $1,000,000 Formerly $5.45 now $5.85
  • Tier 2: $1,000,001 to $4,500,000 Formerly $6.05 now $8.00
  • Tier 3: more than $4,500,000 Formerly $8.00 now $12.50

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