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

Please CLICK HERE for the Full Report

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

Please CLICK HERE for the Full Report


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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Maui Real Estate Statistics June 2022

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Rising inflation, soaring home prices, and increased mortgage interest rates have combined to cause a slowdown in the U.S. housing market. To help quell inflation, which reached 8.6% as of last measure in May, the Federal Reserve raised interest rates by three quarters of a percentage point in June, the largest interest rate hike since 1994. Higher prices, coupled with30-year fixed mortgage rates approaching 6%, have exacerbated affordability challenges and rapidly cooled demand, with home sales and mortgage applications falling sharply from a year ago. New Listings increased 1.4 percent for Single Family homes but decreased 18.6 percent for Condominium homes. Pending Sales…

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Major TVR Phase-Out Update

For approximately 9 months now, RAM has been actively working to oppose two TVR phase out proposals that would have stripped thousands of property owners of their vested rights and caused major economic turmoil for the county. I am pleased to share that our policy arguments and hard work have finally paid off, and the Maui County Council has decided to take their TVR “phase out” in a much different direction. Instead of the legislative proposals we were opposed to, the Planning and Sustainable Land Use Committee of the Maui County Council opted to pursue an alternative model that would allow condominiums to voluntarily eliminate TVR use if a majority of unit owners agree. The current proposal would require 100% of unit owners…

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KAHANA BAY EROSION MITIGATION


PROJECT OVERVIEW
For decades, the shoreline of Kahana, Maui has experienced severe coastal erosion from sea level rise (SLR), storm events, and shoreline development. This has resulted in risk to public safety, threats to environmental quality, reduced coastal access, and damage to property and infrastructure. Almost all the properties in the project area have some form of shoreline erosion control, from seawalls to vegetated berms. The community is seeking ways to manage the important resources of Kahana Bay for generations to come. The Proposed Action presents a sustainable, resilient, community-based solution to mitigate regional shoreline erosion that could serve as a model for nature-based approaches to the severe…

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Aloha! Please click links below to open a PDF for the most searched Hawaii Real Estate Contracts.

If you have any questions please feel free to Eric West at 808-298-2030 or email hawaiisbest1@gmail.com

Hawaii Real Estate Purchase Contract

Hawaii Rental Lease Agreement

Hawaii Buyers Agency Agreement

Hawaii Listing Agreement Sellers

 

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Maui Market Report January 2021 Stats

The real estate market on Maui is definitely heating up. Track the details on my www.MauiMarketWatch.com report which is a open source Google Sheets spreadsheet. You can also CLICK HERE see this summary report for January 2021. Mahalo for your business, and I look forward to working with you as a buyer or sellers agent.

Mahalo

Eric & Lisa West

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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…

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