Maui Real Estate Blog

May 8, 2023

Kihei Home for Sale - 2780 Ohina St Kihei HI 96753

A diamond in the rough. This 1218 square foot home has open beam vaulted ceilings, quality Merillat Masterpiece cabinets throughout, and granite countertops in the kitchen and bathrooms, 18 photo-voltaic panels. As well as a solar water heater, double sinks in the master bath, and 2 master bedrooms. The large 440-square-foot workshop could be converted to an Ohana per the original permits, and a 9350-square-foot lot is large enough to add a second accessory dwelling.

This is one of the largest lots in the neighborhood, perfect for adding a pool, detached ohana, or enough space even to park a boat! This home has great bones and is ready for you to put your finishing touches. Do not wait, call your favorite REALTOR to schedule a private showing today. Please include As Is Addendum with all offers.

List Price $1,099,000

Days on Market 1

MLS# 398809

Status ACTIVE

Type Single Family Residential

Bedrooms 2

Bathrooms 2

Living Area 1,216

Acres 0.21

Land Tenure

Fee Simple

Neighborhood Kamaole

Subdivision Kihei Village

Click here:2780 Ohina St, Kihei Village for more details on this home or to schedule a viewing of this property, by video, or in person.

Posted in Kihei, Maui Real Estate
May 7, 2023

Kula Home for Sale with a Lot for Building

Nestled amidst the verdant hills and gentle slopes of Kula, Hawaii, lies a truly exceptional home that epitomizes the allure of island living. This hidden gem, listed for sale at https://www.buyorsellmauirealestate.com/blog/kula-home-sale-41-waiakoa-pl-kula-hi-96790/, offers an unparalleled blend of serenity, breathtaking views, and modern comforts. From its remarkable architecture to the awe-inspiring surroundings, this unique property presents an opportunity to immerse oneself in the enchanting beauty of Kula. Join us as we explore the captivating features that make this home a true island sanctuary.


Kula Home for Sale with Lot for Building


Awe-Inspiring Panoramic Views
Perched atop an elevated location, this Kula home provides breathtaking panoramic views of the Pacific Ocean, neighboring islands, and the picturesque Maui countryside. Wake up to awe-inspiring sunrises, savor the sight of clouds rolling over the mountains, and unwind to mesmerizing sunsets that paint the sky with vibrant hues. The property's vantage point offers a true sense of tranquility and allows residents to connect with nature on a profound level.


Custom Architectural Marvel
This home showcases an exceptional blend of contemporary design and traditional Hawaiian elements. Crafted with meticulous attention to detail, the architecture seamlessly blends indoor and outdoor living spaces. High ceilings and expansive windows flood the interiors with natural light while providing uninterrupted views of the stunning surroundings. The use of natural materials, such as local stone and wood, adds warmth and authenticity to the overall aesthetic.


An Oasis of Serenity
Escape from the fast-paced world and immerse yourself in the serene ambiance of this Kula retreat. The property boasts beautifully landscaped gardens, featuring tropical flora and lush greenery, creating a tranquil oasis for relaxation and rejuvenation. Enjoy leisurely strolls through the vibrant gardens, find solace in the shade of swaying palm trees, or simply unwind on the spacious lanai while being serenaded by the gentle rustle of the trade winds.


Modern Amenities and Thoughtful Design
While embracing the essence of island living, this unique home also offers a host of modern amenities and thoughtful design features. The spacious gourmet kitchen is a culinary enthusiast's dream, equipped with top-of-the-line appliances, ample counter space, and custom cabinetry. Open living areas seamlessly flow together, creating an ideal space for entertaining or spending quality time with loved ones. The luxurious bedrooms and well-appointed bathrooms provide comfort and privacy for residents and guests alike.


Proximity to Kula's Delights
Located in Kula, a peaceful upcountry town on the island of Maui, this home offers a perfect blend of seclusion and convenience. Kula is renowned for its idyllic climate, with cooler temperatures and refreshing breezes making it an oasis away from the coastal heat. Residents can explore the vibrant local community, indulge in farm-to-table dining experiences, visit charming art galleries, and embark on scenic hikes through the nearby Haleakala National Park.


Kula Maui Real Estate
This remarkable home in Kula, Hawaii, presents an extraordinary opportunity to embrace the tranquility and natural beauty of the island. From the awe-inspiring views to the thoughtful design and modern amenities, every aspect of this unique property is designed to create an oasis of serenity. Whether you are seeking a permanent residence or a vacation retreat, this Kula home offers a harmonious blend of comfort, style, and breathtaking surroundings. Don't miss the chance to make this hidden gem your own and experience the magic of island living in its purest form.

Posted in Maui Real Estate
May 1, 2023

Home Prices Aren’t Crashing, Here's Why

The housing market has been going through many major shifts. Mortgage rates are increasing, people are questioning their ability to buy a home, and the seller’s market has started getting support from these tailwinds. It all came to a conclusion last summer when home prices reached their peak. And when there are peaks, there are retraces. Headlines saying “home prices will go down soon” started to circulate. 

But those expectations weren’t matched. Even though the number of buyers isn’t high anymore, house prices aren’t going down. They stay flat, with many houses and real estate owners refusing to budge and reduce home prices. 

Commenting on this, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), said he doesn’t expect this sentiment to change soon.

“Home prices will be steady in most parts of the country with a minor change in the national median home price.”

While many thought that the lowering number of buyers would motivate house-sellers to drop the prices, another major factor isn’t letting that happen - low inventory. The lack of homes available for sale is not allowing people to push down their prices. 

Lawrence Yun had this to say about it. 

“We simply don’t have enough inventory. Will some markets see a price decline? Yes. But with the supply not being there, the repeat of 30% price decline is highly, highly unlikely.”

Here is the graph showing the changing trends in inventory levels for the past few years. 

The lack of supply is not letting the prices go down. Bankrate states - 

“This ongoing lack of inventory explains why many buyers still have little choice but to bid up prices. And it also indicates that the supply-and-demand equation simply won’t allow a price crash in the near future.”

Sellers know that the inventory is low. And the demand, while small, is still large enough to warrant interest. Therefore, they are not budging from their demands, which is allowing them to maintain their home equity instead - which has lowered their chances of engaging in distressed sales like short sales and foreclosures. 

Furthermore, with many homeowners having locked mortgage rates, house prices aren’t going to go down any time soon. 

The lack of homes available for sale, therefore, requires people to find real estate experts who understand the housing market and can help with navigating the current volatility. 

Bottom Line

Low buyer demand caused many to believe that home prices would crash - but that didn’t happen because of low inventory. There aren’t just enough homes for sale. So, it would behoove you to contact a trusted real estate agent if moving this spring is your desire. 

 

 

Posted in Maui Real Estate
April 22, 2023

Maui Kamaole Condo for Sale - Unit A212

Spectacular ocean views from this front row 2 bedroom, 2 bathroom Maui Kamaole. The unit has been fully remodeled with a custom kitchen and baths, cabinets, countertops, flooring, and split AC among all 3 rooms with automatic shutoffs when the lanai doors open. This is a must-see to appreciate the level of quality. This is a very successful vacation rental but we will make every effort to accommodate showings. Sellers intend to execute a 1031 tax-deferred exchange.

List Price $2,780,000

Price Change ▼ $200,000 

MLS# 398597

Days on Market 11

Status ACTIVE

Type Condo

Building Maui Kamaole

Subdivision Maui Kamaole

Bedrooms 2

Bathrooms 2

Living Area 1,214

Land Area 1,015,819

Acres 23.32

Land Tenure

Fee Simple

Neighborhood Keawakapu

Click here: https://www.buyorsellmauirealestate.com/property/398597/# for more details on this home or to schedule a viewing of this property, by video, or in person.

Posted in Maui Real Estate
April 14, 2023

Maui Kamaole Condo for Sale - Unit M202

Excellent remodel and quiet location near the back of the complex. This 2 bedroom, 2 bathroom unit sits in one of the newest buildings and has been very nicely updated with solid wood cabinets, solid surface counter tops, very plush, high quality carpeting, fresh paint and much more.

Just bring your suitcase, nothing in this unit needs attention. This will be a great vacation rental. Call your favorite Realtor to schedule a private showing. Owner occupied, but will allow showings with a 1 hour notice.

List Price $1,499,900

MLS# 398493

Days on Market 15

Status ACTIVE

Type Condo

Building Maui Kamaole

Subdivision Maui Kamaole

Bedrooms 2

Bathrooms 2

Living Area 1,052

Land Area 1,015,819

Acres 23.32

Land Tenure

Fee Simple

Neighborhood Keawakapu

 

Click here: Maui Kamaole 2777 S Kihei Rd Unit M202, Kihei - Hawaii Homes & Maui Condos for Sale (buyorsellmauirealestate.com) for more details on this home or to schedule a viewing of this property, by video, or in person.

Posted in Kihei
April 10, 2023

Finding it Hard to Buy a Home? Keep Searching

The current seller’s market is making it difficult for everyone to buy a home. The inflating price, the volatile mortgage rates, and the general market sentiment aren’t attuned to what you want in an environment.

But even though things look bleak right now, they all have a silver lining. Here are all the reasons you must continue persevering a bit longer. 

Owning a Home isn’t Just a Short Term Gain

Owning a home isn’t just a place you can call your own - it is about building your net worth. And wealth building takes time. And if you want to cut it short, you must start searching for your home early. Keep renting, and your equity will be funneled into a property that is not yours; you would be putting money away from your home equity. 

Freddie Mac says. 

“Homeownership not a only builds a sense of pride and accomplishment, but it’s also an important step towards achieving long-term financial stability.”

The key term is “long-term”. With home ownership, you get ample financial benefits that you can draw from home price appreciation, which grows your wealth over time. And when you have long-term wealth plans, short-term challenges are only little things to overcome. 

Mortgage Rates are Volatile - But they can follow a Downtrend

Mortgage rates have been trending around the 6.5% range for the past few months. But, if the Chief Economist at Freddie Mac is to be believed, the rates have started to come down. 

“Economic Uncertainty continues to bring mortgage rates down. Over the last several weeks, declining rates have brought borrowers back to the market.”

With lower mortgage rates, buying a house isn’t a distant dream anymore. Your purchasing power increases, getting closer to getting home equity that will funnel into your future wealth. Hannah Jones, Economic Data Analyst at realtor.com, says that the current volatility will mean good for the affordable factor of houses. She states, 

“As we move into the spring bing season, mortgage rates have ticked lower, a welcomed sign of progress towards affordability.”

This recent downturn in mortgage charts means that homebuyers who couldn’t find a home to buy when the mortgage prices peaked can do so now. 

Waiting for Longer Could Lead to Unaffordable Homes

The home Price Expectation survey polled over 100 real estate experts who explicitly said that the price of homes would go up over the next few years, according to the graph below:

 

With rising home prices, two things are bound to happen. 

  • If you wait too long, you might lose the chance of buying a home as it will become more expensive. 
  • Being steadfast about buying a home today means getting the perk of price appreciation of your home with time, increasing your home equity. 

Bottom Line

Don’t let the high mortgage rates deter you from searching for a home. The rates may come down soon, but the home price will increase in the coming years. So, keep searching and think of the current market as a short-term challenge you can overcome to gain long-term benefits. 

 

 

Posted in Maui Real Estate
March 30, 2023

Kula Home for Sale - 41 Waiakoa Pl, Kula, HI 96790

Location, Location, Location. This is a unique opportunity to own a well appointed, high quality home with incredible craftsmanship and materials on an unbelievable lot! Tremendous unobstructed panoramic view from the ocean, to the coastline, to Haleakala mountain. This parcel is situated at the highest point at the end of the street providing additonal privacy. This is a must see! Also included is a seasonal gulch with views of the waterfall.

The space for future development is cleared and graded for significant value added opportunities. This is a magnificent property that can be thoroughly enjoyed for years to come. A great legacy asset. The home has the highest quality materials and craftsmanship consisting of: Kitchen and bathroom cabinets with elegant Cherry wood, Gorgeous thick solid granite countertops, Custom bath tub & shower, All Viking appliances, Stand alone Island, Slate stone gas fireplace, Imperial plaster was completed by a local artist. This Imperial Plaster was extended all the way to the garage and laundry room.

Vaulted ceilings, Extensive lighting throughout, All Solid wood doors, Wood Clad Milgard windows and sliders with upgraded thicker glass, 24" Travertine throughout the entire home including the garage & laundry area, Redwood garage door, Concrete driveway, Monier tile roof, Copper gutters, Lanai patio with Cedar soffit crown molding and fans, this home is highlighted by the beautiful staggered coral retaining walls. Tremendous lush foliage from neighboring properties. Several years of care & vision have been spent creating this masterpiece.

List Price $2,699,900

Days on Market 26

MLS# 398286

Status ACTIVE

Type Single Family Residential

Bedrooms 2

Bathrooms 1

Living Area 990

Acres 2.13

Land Tenure

Fee Simple

Neighborhood Kula/Ulupalakua/Kanaio

Click here: https://www.buyorsellmauirealestate.com/property/398286/?addrs=1# for more details on this home or to schedule a viewing of this property, by video, or in person.

Posted in Maui Real Estate
March 12, 2023

Why You Should Use an Expert Real Estate Agent

 

Selling your house requires much forethought- something you might not always have. That is why you need someone by your side who understands the intricacies of the changing market and its impact on your business. In other words, you need an expert. 

Here are the five reasons an expert can get you the best deals for your home. 

They are Experts on Market Trends

The real estate market is constantly changing, which makes it imperative for you to find someone who is updated about the latest information and how these new developments impact you. With a real estate advisor, you get an expert who understands national and local housing market trends. Most importantly, these experts understand how these trends might impact your business goals, making their advice more valuable as you will be more informed about your decisions. 

Experts Understand how Much your House is Worth

Home price charts show signs of moderation this year. So, if you sell your house on your own, you may be overpricing it without knowing about these changes. And when you price your house too high, buyers get deterred, pushing your house to stay on the market for a long time. The lengthier listing leads to the devaluation of your property. 

Experts help you put the right price on your home from the get-go as they consider multiple factors, including the conditions of your house and the market trends. Their unbiased approach to pricing your house also involves understanding the going rate for houses in your region. It helps you sell your home quickly. 

Real Estate Professionals Helps Increase the Pool of Buyers

The rising inflation has led to the buyer demand to cool down this year - which means you would do what you need to attract more buyers. But the tools that you need to do so will only be available to experts. They consider many aspects, such as social media followers, agency resources, and multiple listing services, to ensure your house is the most visible in the market. 

Investopedia points out the risk of selling your house without the aid of an expert. 

"You don't have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home."

You need access to experts because your buyer pool will be limited without the tools they have at their disposal. 

With a Maui Real Estate Expert, You Get Someone Who Understands the Fine Print

Selling a house requires going through multiple legal hoops encumbered by a slew of regulatory documents that, while sound obtuse and overly technical, have details that can set the tone for your property. 

The National Association of Realtors highlights the need to have a professional go through these details in the following words:

"There's a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language."

You Get Access to a Skilled Negotiator When you Have a Maui Real Estate Expert By Your Side

Being able to sell your house at the price you want falls down to how better you can negotiate the price. Negotiations need to be quick and smooth without a need for constant back and forth between you and your prospect, which leads to a discussion that doesn't go anywhere. 

A real estate expert coordinates fast negotiations between the following parties. 

  • Buyer - The one who is looking for the best deal.
  • Buyer's Agent - The expert who represents the needs of the buyer.
  • The Inspection Company - A team of inspectors that assesses your property for quality - and almost always find issues to drive down the price. 
  • The appraiser - Expert assessing the property's value while keeping the lender's protection in mind.

Going toe-to-toe with these on your own is akin to walking on a tightrope while worrying about four different things in mind. Consult with an expert who understands how to address each party's concerns and promptly informs you whether to go with the buyer or find another one.

Bottom Line

Never try to do it alone. If you want to let go of your house and make money this spring, hire a real estate professional to help you with today's volatile housing market. 

 

Posted in Maui Real Estate
March 1, 2023

Southpointe at Waiakoa Condos for Sale #2-204

Sitting in one of the quietest locations in the complex, this 2 bed, 2 full bath condo has beautiful and immaculate hardwood oak floors in the living room, solid surface counter tops in the kitchen, stainless appliances, porcelain tile flooring, new carpet in the bedrooms, updated walk in showers in both bathrooms with porcelain tile walls, custom niches and glass tile highlight accents, new vanities, quartz counter tops, bottom mount sinks and porcelain floors. All you need to do is bring your suitcase as the unit is being sold fully furnished with a few art exclusions. Cable TV & Internet are included in the monthly fee. Call your favorite REALTOR to schedule a private showing today!

List Price $649,900

MLS# 397909

Days on Market 38

Status ACTIVE

Type Condo

Building Southpointe At Waiakoa

Subdivision Southpointe At Waiakoa

Bedrooms 2

Bathrooms 2

Living Area 750

Land Area 645,124

Acres 14.81

Land Tenure

Fee Simple

Neighborhood North Kihei

Click here: https://www.buyorsellmauirealestate.com/property/397909/# for more details on this home or to schedule a viewing of this property, by video, or in person.

Posted in Maui Real Estate
Feb. 2, 2023

Rent or Sell - Which One to Pick For Your House?

Moving to a new place comes with many questions about the old place. What will you do with your old home? Would you sell it immediately, taking advantage of the increasing home prices? Or would you rent it short-term - allowing you to get more out of it before you sell it?

This "short-term rental" method is akin to renting a hotel room and has become a much-favored investment over the past decade. 28% of homeowners resort to taking this approach of renting their old home for a short term as a way to generate additional income. 

While short-term rental is tempting, implementing it comes with more responsibilities, you may be willing to take on. 

Read on to learn about the challenges you will likely face if you rent your home instead of selling it right away. 

Challenge 1 - Short-Term Rental is a Heavy Responsibility

Renting your home isn't only about letting go of it and putting it on the listing; you must undertake many responsibilities. 

When adding your home to the rental listings online, it is important to review the listing requirements, for it varies depending on the listing websites. 

Bankrate recently wrote an article about this fact, explaining the responsibility one needs to take on. The post notes that you must consider the following before listing. 

Are you capable of doing the repairs?

All rentees expect the renters to provide all the requisite repair facilities. And if you can't do so yourself, you must have a network of contractors to perform the repairs. 

Screening the tenants

The world has now become dangerous. Trust is at an all-time low, in light of which you need to have a system in place to assess your tenants.

There are other responsibilities to take care of, like fielding issues and more. As a renter, you must decide whether you are ready to take on the duties of the landlord - which may mean either handling things yourself or with the help of a third party. 

These responsibilities take away not only a huge chunk of your time but also your money. So, even if you rent a property, you might find yourself paying for the repairs, which may offset your income by a large degree. 

And even then, you might face challenges from these guests. At best, they might turn out to be rude, attracting complaints from neighbors. And at worst, you might find yourself dealing with theft and regulatory violation. 

These are just the most basic challenges - you may face more complex ones over time. If you are not ready to deal with these situations, selling your home might be a wiser option. 

Challenge 2 - Your House May Not Be Fit For Renting

Not every house is worth renting. As harsh as this statement is - it is the truth. Factors like location, structure, neighborhood, etc., all play a huge role in whether your home is "rentable properly". Also, the less likely your house is located in a place with the potential to be a travel destination, the more likely you will receive no interest from renters. 

An article by the National Association of Realtors puts this factor more bluntly. 

"When it comes to the viability of profitable STRs….consider factors like location, amenities, and whether the property is appealing. Most people seek STRs in locations where they vacation, so proximity to attractions is important. Likewise, the property should cater to a variety of travelers."

Nuance factors like "travel-destination-like-appeal" never pop into most homeowners' minds, but they are important things to consider. 

Therefore, before renting, do your homework. Assess how much rental goes for in your area and how much income it can generate on a yearly basis. Fixing your home beforehand is also a great idea if you don't want to offset your earnings by paying for repairs. 

Bottom Line

Do not take the decision to rent your home lightly. Weigh all your alternatives first, and to help you make a decision, consult with your local real estate advisor. 

Posted in Maui Real Estate