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West Maui Single Family Home Report for August 2017 - not a buyer or a sellers market...rather....it is a Neutral market!

The number of for sale listings was the same as the previous month. The number of sold listings increased 41.2% month over month. The number of under contract listings was up 30% compared to the previous month. The Months of Inventory based on

Closed Sales is 5.2.

The Average Sold Price per Square Footage was down 1.5% compared to the previous month. The Median Sold Price increased by 13.6% from last month. The Average Sold Price also increased by 7% from last month. Based on the 6 month trend, the Average Sold Price trend is "Neutral"and…

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Understanding the difference between leasehold property in Hawaii and fee simple meaning is actually very simple! (Scroll Down to See Video) With leasehold you DO NOT own the land the home or condo sits on. With fee simple you do! A leasehold property will have an additional monthly lease fee that you have to pay to the land owner. (This fee typically goes up over time.) The lease is renegotiated every 10 years (typically) Leasehold properties are also very difficult to finance and are usually all cash deals. Leaseholds are also much less expensive than fee simple properties because of this extra cost and the risk associated with not owning the land. The good news is the many leasehold properties are converting to fee simple. Which simply means that the…

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We all have a story. Mine just happened to begin at The Kuleana Resort in West Maui. This was the first place that I really called home in Hawaii and it's quite frankly where I fell in love with the Island of Maui. I decided to make my home in Hawaii and move my wife and 4 boys over from Colorado. Since then we've had a ball selling real estate all over Maui, but really focused on West Maui homes and condos. I've had clients purchase condos on the West side and some I have even managed for short term rental. The Kuleana has always held a special place in my heart. It's almost like a first kiss that you never forget. The memories I made at this resort will not only be cherished but also represent the greatest risk and reward that I ever…

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Here is my “Top 10 List” of what you need to know before selling your condo on Maui.  I believe this is a great checklist to have on hand when working with a Maui Real Estate agent/realtor.

 

#1 MANDATORY - Get professional photos, along with a 2-3 minute video and aerials. This is an absolute MUST.  Don't you let an “el-cheapo” agent take pictures with their iPhone or a point and shoot camera. It will result in pictures that are dark and simply don't look good. (And yes, I see them show up every day on new listings!) Just look at how much commission they are charging and ask yourself "can they afford a few hundred bucks?" Also, DO NOT assume they are going to do it - just because you asked! Tell your newly hired star agent that you would like…

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 Maui Real Estate Market Comparison 2016 versus 2015 Update.

Here are the latest numbers for 2016 Maui Real Estate market in review versus the year 2015.

 

 

Residential Single Family Home sales on Maui, Hawaii were basically flat. Slightly down in terms of overall units sold. Down 1% from 1090 sales in 2015 to 1076 residential sales in 2016. However, the median sales price however rose 10% from $580,000 to $636,000. The total dollar volume in sales for 2016 was up 12% from $932 million to slightly over $1 billion in 2016. The median days on market basically stayed the same at 115 days. 

Condominium sales in the Maui real estate market in 2016 versus 2015 were actually up 10% from 1189 units sold in 2015 to 1310 units sold in 2016.…

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Status MLS # Subdiv Address Lot # Acres L Price Sold Price Close Date DOM  
ACTIVE 370440 The Ridge at Kulamanu 121 Kulamanu Cir   0.276997 $359,000     196  
ACTIVE 371515 Kulamanu 15 Uau Pl Lot 276 0.291299 $359,500     103  
ACTIVE 372715 WAIAKOA FARM LOTS 41 Kahoea Ave   0.623002 $375,000     22  
ACTIVE 368016 Yokote Subdivision 0 Kukia Pl Lot 126-A-1-D 0.503994 $375,000     398  
ACTIVE 371037 Kulamanu 35 Kapalulu Pl   0.23999 $389,000     136  
ACTIVE 372156   0 Kekaulike Ave   2.35 $420,000     …

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KAANAPALI CONDOMINIUMS

 
 
HONUA KAI - HOKU LANI
MLS STATUS UNIT LIST PRICE  SOLD PRICE SALE DATE BEDS BATHS SQ.FT. DOM
372127 ACTIVE 224 $699,000     1 1 620 73
371344 ACTIVE 223 $725,000     0 1 583 119
372868 ACTIVE 732 $729,000     1 1 620 14
369828 ACTIVE 928 $758,000     1 1 620 256
371977 ACTIVE 434 $1,200,000     2 2 1,080 83
372929 ACTIVE 1022 $1,350,000     2 2 1,235 12
371784 ACTIVE 710 $1,399,000     2 2 1,100 85
373034 ACTIVE 545 …

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CONDOMINIUM PROPERTY REGIME BASICS  - - Credit Jakob K. Worsner Attorney at Law 808-877-8877

What is a Condominium Property Regime "CPR"?

• A CPR is a legal mechanism (Hawaii Revised Statutes 514B) for dividing a single property
  into 2 or more separate UNITS OF OWNERSHIP, typically with attached "appurtenant"
  exclusive-use LIMITED COMMON ELEMENTS (yard areas).

• Each CPR unit has its own seperate fee simple ownership (deed), mortgages, encumbrances,
  and CPR TMK NO. (which is found at the end of the property Tax Map Key No.).

• Each CPR unit is separately transferable, saleable, and leasable, and each unit's owner(s) pay
  for their unit's own insurance, property taxes, improvements, expenses, etc.

  CPR PROHIBITED: Occasionally a property…

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