Maui Real Estate Blog

Home prices exhibit a propensity to increase over time, influenced by a multitude of interconnected factors. One of the foundational drivers behind escalating home prices is the delicate equilibrium between supply and demand. When there is a surge in demand for homes in a particular area, often spurred by population growth, job opportunities, or other factors, and the available housing supply cannot keep pace, prices naturally rise. This situation becomes even more pronounced in high-demand locations where the desirability of the area leads to a scarcity of housing options.

When buying a home the economic conditions also play a pivotal role in the trajectory of prices. A strong and stable economy characterized by low unemployment and rising incomes instills confidence in individuals and encourages them to invest in homeownership. Lower mortgage interest rates are another crucial catalyst in this regard. When interest rates on mortgages are low, it becomes more affordable for people to borrow money for home purchases, thus stimulating demand and, subsequently, increasing prices.

The geographical aspect is paramount as well, especially in urban areas. Urbanization trends have been driving the demand for housing in cities and metropolitan areas. The proximity to jobs, amenities, and services make urban living appealing to many, which has a substantial impact on prices in these regions. Furthermore, in certain desirable locations, there is a limited supply of land for new construction, resulting in a fundamental scarcity of housing. This scarcity can lead to higher prices, not only for existing homes but also for new developments.

Government policies and regulations wield significant influence over real estate. Zoning laws, building codes, and development restrictions can curtail the supply of housing, leading to price increases. Conversely, government incentives and subsidies can boost demand and influence prices in the opposite direction. Additionally, speculation by investors can introduce short-term fluctuations into the market, as investors buy properties with the expectation of selling them for profit, which can drive up prices temporarily.

Demographics also have a considerable impact. Changes in the age and household composition of the population can influence housing demand and the types of homes in demand. For instance, as millennials enter the housing market or as the population ages, it can lead to shifting preferences and price trends. Moreover, foreign investment in real estate, especially in global cities, can have a profound impact on prices. Foreign investors often purchase homes as investments, driving up prices and intensifying competition for local buyers.

Overall, the increase in home prices is the result of a complex interplay of factors, each contributing to the ever-evolving real estate landscape. These factors can interact in intricate ways, leading to variations in home price trends across different regions and over time. While rising home prices can be advantageous for existing homeowners, they also present challenges for prospective buyers, particularly in areas where affordability becomes a growing concern. Understanding these dynamics is essential for anyone navigating the housing market, whether as a homeowner or a potential buyer.

The percent change in home values represents the percentage increase or decrease in the value of residential properties over a specific time frame. This calculation involves comparing the current value of a home to its value at a previous point in time. To compute the percent change, you use the formula: [(Current Value - Previous Value) / Previous Value] * 100. For example, if a home was worth $250,000 a year ago and is now valued at $275,000, the percent change is 10%, indicating a 10% increase in its value. Conversely, if the home's value had dropped to $225,000, the percent change would be -10%, signifying a 10% decrease in its value. This metric is widely employed in real estate to assess market performance and make informed decisions about buying, selling, or investing in real estate.

Kamaole Sands Condo for Sale - 6-402

Property Description for Kamaole Sands Condo for Sale - 6-402

Discover unparalleled tranquility and comfort in this exceptionally rare top-floor condominium, boasting not just one but two captivating ocean views: one directly ahead and another to the left, ensuring breathtaking panoramas. Situated in the esteemed Kamaole Sands' building 6, this gem allows you to immerse yourself in a luxurious courtyard setting, characteristic of the resort.

Step inside to find many high-end upgrades, including brand-new stainless steel appliances that will inspire your inner chef and a convenient stackable washer and dryer. The modern luxury vinyl flooring spans across a generously spaced interior, featuring two expansive bedrooms and 2 full bathrooms, offering an oasis of tranquility and sophisticated living.

One of the most distinctive features of this exquisite condo is the inclusion of two dedicated parking stalls, #176 & #189, a rarity that enhances convenience for homeowners. The resort experience at Kamaole Sands is comprehensive, providing a wealth of recreational and relaxation options. Indulge in the large swimming pool, find respite in one of the 2 hot tubs (including an adult-only option), enjoy family fun in the baby pool, or engage in friendly competition with foosball and ping pong. Health and wellness are just a step away with an on-site exercise room.

Unique to this unit is the elegant drop-down tongue and groove wood ceiling, complemented by a 10" fiberglass insulation blanket throughout the entire condo, a deliberate installation aimed at optimal temperature regulation, promoting comfort in every season. For added convenience and a modern touch, three split air conditioning units have been installed within the unit.

This condo is being sold fully furnished, equipped with everything you'd need, making it move-in or rental-ready — an excellent opportunity for investment or personal use. Given the uniqueness and desirability of this property, we highly recommend prospective buyers contact your favorite Maui Real Estate Agent promptly to schedule a private showing. As of the listing date, this is the sole 2-bedroom unit available in the complex, emphasizing its rarity.

Please note the seller intends to execute a 1031 tax-deferred exchange, an important consideration for the financial planning of interested buyers. Take the chance to own a piece of paradise with this remarkable ocean-view condo.

List Price $1,599,900

MLS# 399930

Days on Market 19

Status ACTIVE

Type Condo

Building Kamaole Sands

Subdivision Kamaole Sands

Bedrooms 2

Bathrooms 2

Living Area 1,188

Land Area 653,400

Acres 15

Land Tenure

Fee Simple

Neighborhood Kamaole Iii

Additional Information

View Ocean

Lot Size 653,400

Unit 6-402

District Kihei

Pool Yes

Pool Description In-Ground

Year Built 1983

Waterfront Across Street from Ocean

Monthly Maintenance Fee 946.43

Short Term Rental Yes

Listing Office Name Coldwell Banker Island Prop(S)

Listing Office Phone 808-874-8668

Click here: Kamaole Sands Condo for Sale - 6-402 for more details on this home or to schedule a viewing of this property by video or in person.

Hale Kamaole Condo for Sale - Unit 226

Property Description for Hale Kamaole Condo for Sale - Unit 226

Embrace the serenity and sophistication of this exquisitely updated 1-bedroom, 1-bathroom abode nestled proximately to the vibrant tennis courts. The residence, which is delicately positioned within the revered Hale Kamaole complex, exudes a blend of contemporary design and traditional warmth. The popcorn ceiling has been meticulously removed, revealing a smooth, modern surface that enhances the aesthetic appeal and freshness of the space. 

The kitchen, a culinary enthusiast's dream, has undergone a remarkable transformation. Immaculate and redefined, it is now adorned with top-tier appliances, sleek countertops, and refined cabinetry, offering an elevated cooking and dining experience. The bathroom, too, has seen a significant upgrade, now mirroring the chic and functional design found throughout the home, ensuring every moment spent is engulfed in understated luxury.

Underfoot, delight in the crisp, clean elegance of tiled flooring that extends throughout the entire space, providing a stylish appeal and ease of maintenance and durability to stand up to the demands of day-to-day living. Every detail within this residence has been carefully considered and executed, creating an ambiance of refined living.

Hale Kamaole is conveniently perched directly across the tranquilizing Kamaole 3 beach park, Kihei's largest and most beloved beach park. Here, nature unveils its beauty through crystalline waters, warm, sandy shores, and mesmerizing sunsets, offering residents a perpetual escape just steps from their door.

Location is paramount, and in addition to the immediate beach access, residents will find themselves enveloped by a plethora of fine dining experiences, with over a dozen acclaimed restaurants in close proximity. Gastronomic adventures from casual fare to exquisite culinary creations await within minutes of this splendid home.

For the golf aficionados, immerse yourself in the picturesque and challenging resort golf courses nearby, each providing a unique blend of natural beauty and sporting challenge, ensuring endless enjoyment beneath the radiant Hawaiian sun.

Your private showing awaits and is merely a phone call away. Take advantage of this incredible opportunity. Contact your favorite Maui Real Estate Agent today to schedule a private showing of this exceptional residence. And begin the journey to securing not just a property but a lifestyle enveloped in beauty, convenience, and luxury in the heart of Kihei.

List Price $950,000

MLS# 399838

Days on Market 16

Status ACTIVE

Type Condo

Building Hale Kamaole

Subdivision Hale Kamaole

Bedrooms 1

Bathrooms 1

Living Area 778

Land Area 341,510

Acres 7.84

Land Tenure

Fee Simple

Neighborhood Kamaole Iii 

View Garden

View Zoning

Urban Lot

Size 341,510

Unit 226

District Kihei

Pool Yes

Pool Description In-Ground

Year Built 1974

Waterfront Across Street from Ocean

Pets Allowed Yes

Monthly Maintenance Fee 774.57

Short Term Rental Yes

Listing Office Name Coldwell Banker Island Prop(S)

Listing Office Phone 808-874-8668

Click here: Hale Kamaole Condo for Sale - Unit 226 for more details on this home or to schedule a viewing of this property by video or in person.

Selling your home in a low inventory housing market offers several compelling advantages. With fewer homes available for sale, your property is likely to attract more attention from motivated buyers, potentially leading to a quicker sale and higher offers. Bidding wars are common in such conditions, driving up the final sale price and allowing you to sell your home for more than the initial listing price. Additionally, low inventory markets often have shorter average times on the market, making it ideal for those looking for a swift transition or wanting to capitalize on a seller's market. Being a seller in this environment can put you in a stronger negotiating position, with more leverage in price negotiations and terms, resulting in potentially more favorable conditions.

Another perk is the potential for over-asking offers, as some buyers may be willing to bid above the asking price to secure a property in a competitive market. Furthermore, you'll face less competition when searching for your next home, as fewer competing buyers mean a more manageable process for finding and purchasing your next property. Despite these advantages, it's crucial to remain mindful of the fast-paced nature of low inventory markets and the need to make quick decisions, both as a seller and a buyer. Careful planning, a well-thought-out strategy, and the assistance of a real estate professional can help you navigate the unique dynamics of this type of housing market effectively.

The Supply of Homes for Sale Is Far Below the Normal

The shortage of homes for sale can be attributed to a complex interplay of economic, demographic, and market-related factors. One prominent factor is robust demand driven by population growth, favorable economic conditions, and historically low mortgage interest rates. When the demand for homes outpaces the available housing supply, it can result in a seller's market with a shortage of properties.

Another significant contributor is the pace of new home construction. Various factors, including labor shortages, rising construction costs, and zoning restrictions, can slow down the development of new housing. This can exacerbate the housing supply shortage, especially in regions where new construction isn't keeping up with population growth or increased demand.

Also aging housing stock is a related issue, particularly in areas with older homes that may require significant renovations. Some homeowners may choose not to sell because their properties are not in suitable condition for sale, leading to a limited supply of move-in-ready homes.

Economic conditions can also play a role. Economic downturns or housing market crashes can lead homeowners to delay selling their properties, contributing to a constrained housing supply. Where as investor ownership have a significant number of homes may be owned by investors who rent them out rather than selling. This is especially noticeable in markets with strong rental demand, as investors seek to capitalize on rental income.

Zoning laws, building codes, and land-use regulations can limit the supply of housing in certain areas. Stringent regulations may make it challenging to build new homes or convert existing properties for residential use.

Affordability challenges in some areas can discourage homeowners from selling, as they may not find affordable replacement homes in the same market. This can further constrain supply and lead to higher home prices.

In summary, when buying a home the shortage for sale can be influenced by a multitude of factors, and these factors can interact in complex ways. Low housing supply often leads to a seller's market, with sellers having the upper hand, rising home prices, and increased competition among buyers. Understanding these dynamics is crucial for prospective buyers and sellers in navigating the real estate market effectively. It is important to work with a realtor to make the process easier, making sure all your requirements are being met. 

Kamaole Sands Condo for Sale Unit 7-108

Property Description for Kamaole Sands Condo for Sale Unit 7-108

Experience unparalleled comfort and convenience in this exquisitely furnished and recently updated 1-bedroom, 2-bathroom condo at Kamaole Sands, one of South Maui's premier resort communities. From the tasteful selection of décor to modern amenities, this home is designed to offer everything a discerning visitor could wish for a memorable stay.

As you step inside, you'll immediately notice the high-quality tiled floors flowing seamlessly from the kitchen through the hallway into the living room. The updated, fully equipped kitchen offers a stylish and functional space to prepare gourmet meals, while the living area serves as a cozy retreat for relaxation.

Both bathrooms have been thoughtfully updated with contemporary fixtures and finishes, offering a spa-like ambiance within your home. The convenience also extends outside; the unit is strategically located close to the resort's stunning swimming pool, ensuring a refreshing dip is just a few steps away.

But that's not all—Kamaole Sands provides a rich array of amenities to enhance your tropical living experience. The property has water features to suit all ages, from a sparkling central swimming pool to a dedicated baby pool. Relax your muscles in one of the two hot tubs after a day of adventure or challenge your companions to a game of ping pong or foosball. Fitness enthusiasts will appreciate the well-equipped workout room, helping you stay active even while on vacation.

The cherry on top? This beautiful Kihei condo is just across the street from the renowned Kamaole 3 Beach Park, offering easy access to one of Maui's most beautiful beaches. Whether you're interested in sunbathing, snorkeling, or simply watching a picturesque sunset, this location has it all.

Don't miss out on this incredible opportunity. Contact your favorite Maui Real Estate Agent today to schedule a private showing of this exceptional residence.

List Price $1,050,000

MLS# 399710

Days on Market 12

Status ACTIVE

Type Condo

Building Kamaole Sands

Subdivision Kamaole Sands

Bedrooms 1

Bathrooms 2

Living Area 818

Land Area 653,400

Acres 15

Land Tenure

Fee Simple

Neighborhood Kamaole Iii

Additional Information

View Garden View

Zoning Urban

Lot Size 653,400

Unit 7-108

District Kihei

Pool Yes

Pool Description Heated, In-Ground

Year Built 1983

Waterfront Across Street from Ocean

Monthly Maintenance Fee 687.56

Short Term Rental Yes

Listing Office Name Coldwell Banker Island Prop(S)

Listing Office Phone 808-874-8668

Click here: Kamaole Sands Condo for Sale - Unit 7-108 for more details on this home or to schedule a viewing of this property by video or in person.

Kihei Alii Kai Condo for Sale - Unit C208

The phrase "only half the inventory of a normal housing market today" paints a picture of a housing market currently grappling with a notable shortage of available homes for sale, a situation that stands in stark contrast to the usual balance between supply and demand. This scarcity in housing inventory can arise from a combination of factors, including a surge in buyer interest, a lack of substantial new housing development, or a trend of homeowners opting to hold onto their properties rather than selling. The consequences of such a scenario can be far-reaching. On one hand, this lopsided supply-and-demand equation often leads to what's commonly referred to as a seller's market.

In this context, homeowners who do choose to list their properties might find themselves in an advantageous position, with multiple prospective buyers vying for their attention and properties often being sold above their listing prices. On the other hand, for potential home buyers, especially those entering the market for the first time, this reduced housing inventory can pose a range of challenges. The heightened competition for fewer available homes can lead to bidding wars and an overall uptick in property prices, potentially making it more difficult for buyers to find homes within their budget. This dynamic can also exacerbate issues of housing affordability in certain areas. It's important to note that the specifics of this situation can vary widely based on regional economic conditions, housing policies, and other localized factors. As such, monitoring up-to-date real estate data and market trends is crucial for understanding the nuanced impact on both buyers and sellers.

Certainly, there have been times in the past when the housing market experienced higher levels of inventory compared to the present. This typically occurred during periods when housing construction was more robust, economic conditions allowed for increased development, and homeowners were more willing to sell their properties. Here's an overview of such a scenario:

In some historical periods, the housing market witnessed an abundance of available homes compared to today's reduced inventory. These periods often coincided with times of economic growth, relatively low interest rates, and a healthy supply of new housing developments. During these times, builders and developers were more active in constructing new homes to meet the growing demand from buyers.

For example, in the years following World War II, there was a surge in housing construction in many parts of the world, including the United States, known as the post-war housing boom. This period saw the rise of suburban development, with numerous new communities and housing subdivisions being built to accommodate the growing population and returning veterans. The housing market during this time had a higher inventory of available homes due to the substantial construction efforts.

During periods of economic prosperity and stable real estate markets, homeowners were more inclined to sell their properties, leading to a healthier balance between supply and demand. This resulted in more options for potential buyers, and competition was not as intense as in low-inventory markets.

However, it's important to note that real estate markets are cyclical and can be influenced by various factors, including economic conditions, demographics, housing policies, and more. Over time, shifts in these factors can lead to changes in the level of housing inventory. For instance, economic recessions, restrictive lending practices, and other market disruptions can contribute to reduced construction and homeowners holding onto their properties, leading to lower inventory levels.

Understanding the historical context of housing inventory fluctuations can provide insight into the broader trends and dynamics of the real estate market. It's also a reminder that the housing market is subject to change, and today's conditions may not necessarily reflect conditions in the past or the future.

Following the recent destruction caused by fires on Maui, our island community unites in solidarity. With homes and local businesses reduced to ashes, thousands of our fellow residents are now in desperate need of shelter and basic living essentials. Come together with us to help those affected; your support can truly make a difference.

Community Donations

Please consider the following verified local organizations accepting monetary donations.

For a comprehensive list of local organizations receiving donations, visit the Maui Mutual Aid Guide.

Shelter for Those Displaced in Maui

The REALTORS Association of Maui is working to connect people with homes on Maui who have been displaced by the fires. If you have a home, room, or space available, please contact RAM with your available resource at 808-873-8585.

CB ‘Ohana Support

Several members of our Coldwell Banker family, encompassing agents, staff, and their relatives, are currently enduring the overwhelming and unimaginable loss of their homes and all personal belongings. This devastation has not only left them without shelter but has also taken away the memories and possessions that make a house a home.

In times like these, the sense of 'ohana, or family, becomes more vital than ever. These individuals have not only been integral parts of our team but have also contributed generously to others within and beyond our community. They've been there for others, and now we ask you to be there for them.

We respectfully and earnestly request that you consider extending your compassion and support to these cherished members of our family. Whether it's a monetary contribution or a share of resources, your assistance can make a significant difference in their lives during this difficult time.

Please join us in standing with our 'ohana, showing them that they are not alone in this struggle. Donations can be made through the link provided here. Your generosity, no matter how big or small, can bring comfort and hope to those who have given so much before.

 

The approach of remote work has revolutionized the way people perceive homeownership, leading to an expansion of horizons in the homebuying process. With the newfound flexibility to work from anywhere, individuals are no longer constrained by the need to live near their workplaces, allowing them to consider a broader range of areas and regions for their future homes. This shift has driven a surge of interest in suburban and rural areas, as homebuyers seek quieter, less densely populated locations with more space and an enhanced quality of life. As a result, real estate markets in smaller towns and remote regions have experienced a renaissance, presenting fresh opportunities for buyers seeking an escape from bustling urban centers.

Besides, remote work has granted employees the ability to relocate to regions with a lower cost of living, expanding the options for affordable housing and potentially affording larger properties or homes with desirable amenities that were previously financially out of reach. The concept of home has also evolved in response to remote work, as properties are now seen as multifunctional spaces that cater to the needs of both living and working. Remote workers prioritize features like home offices, flexible layouts, and outdoor areas, creating a demand for homes that align with specific lifestyle preferences.

Virtual homebuying tools and technologies have seen widespread ratification, thanks to the rise of remote work. Buyers can now explore and tour properties remotely through virtual tours, 3D models, and video conferencing with real estate agents, streamlining the homebuying process and making it more accessible, regardless of physical location.

For some, the adoption of remote work policies by companies has opened up relocation opportunities to different states or countries. This newfound flexibility has empowered individuals to explore housing markets that match their desired lifestyle or meet their personal preferences, regardless of their employer's physical location.

Despite these exciting prospects, potential buyers should conduct thorough research on potential areas, consider long-term plans, and take into account factors like local amenities, healthcare facilities, and school districts. Seeking guidance from real estate professionals can help remote workers make informed decisions and find their dream homes in new and exciting locations. Embracing the opportunities presented by remote work, individuals are now venturing into uncharted territory, finding homes that truly resonate with their evolving lifestyles and preferences.

More Work Flexibility Equals More Home Options

The rise of work flexibility has opened up a excess amount of home options for potential buyers. With more companies embracing remote work and flexible arrangements, individuals are no longer limited to living near their workplaces. This expanded geographic freedom allows them to explore a broader range of locations, including more affordable suburban or rural areas with larger properties and desirable amenities. Homebuyers can now escape high-cost urban centers and find homes that better suit their lifestyle preferences, such as properties with dedicated home office spaces or proximity to parks and recreational areas. The enhanced property search and relocation opportunities present a more dynamic and exciting homebuying experience, but careful consideration of individual needs and long-term plans is essential. Consulting with real estate professionals can help buyers navigate this new landscape and make well-informed decisions to find the perfect home that aligns with their work-flexible lifestyle.

If you're considering buying a home, it's essential to ask yourself some critical questions to ensure you're making a well-informed decision. Buying a home is a significant financial and lifestyle commitment, so taking the time to evaluate your needs and priorities can help you determine if it's the right step for you. Here are two important questions to ask yourself:

Can I Afford It?

One of the most crucial questions to ask yourself is whether you can afford to buy a home. Purchasing a property involves not only the down payment but also various other costs, such as:

- Mortgage payments: Consider if you can comfortably manage the monthly mortgage payments, including interest, insurance, and taxes.

- Closing costs: These expenses can add up and typically include loan origination fees, appraisal fees, title insurance, and more.

- Maintenance and repairs: Owning a home comes with ongoing maintenance costs. Can you handle unexpected repairs and upkeep expenses?

- Utilities and other expenses: Factor in the costs of utilities, homeowners' association fees (if applicable), and any other expenses specific to the property.

Ensure you have a stable income and a budget in place to handle these expenses without stretching yourself too thin financially. Remember that owning a home can offer long-term financial benefits, such as building equity, but it's vital to be prepared for the initial costs and ongoing financial responsibilities.

Does It Align with My Long-Term Goals?

Buying a home is not just a financial decision; it's also a lifestyle choice. Consider how purchasing a property aligns with your long-term goals and aspirations:

- Stability and roots: Are you looking to settle down in a particular area and establish roots in the community? Buying a home may provide a sense of stability and belonging.

- Future plans: Think about your future plans, such as career aspirations, family considerations, or potential relocations. Will owning a home support or hinder these plans?

- Investment potential: Evaluate the potential investment value of the property. While no one can predict the future real estate market, buying a home in a desirable location with good growth potential can be a wise investment.

Reflect on your long-term goals and how homeownership fits into them. If you plan to move frequently or have an uncertain job situation, renting might be a more flexible option.

Ultimately, thoroughly considering your financial situation and long-term goals is crucial before buying a home. If you determine that it makes sense for your current and future circumstances, homeownership can be a rewarding and fulfilling experience. However, if you find that it might not be the right time or decision for you, renting can be a practical alternative until your situation changes.