June was a terrific month for the Maui real estate market, which was reflected clearly in the monthly report released by the Realtors Association of Maui (RAM). Sales and median prices were up for both homes and condos, contributing to the continual market growth that year-to-date statistics reveal. Slow and steady growth makes for good investment conditions, whether you plan to buy a Maui home to live in full-time or you want a Maui condo for part-time residence and short-term rentals, or any number of other unique plans.
When it comes to single-family Maui homes, RAM reports that median prices increased by 12.3% to $740,000 this past June, compared to $659,000 during the same month last year. Despite the boost in prices, the market still saw a 21.2% increase in June sales to 120 homes sold, compared with 99 homes sold in June of 2016.
This growth of sales and median prices is fairly dramatic, but they can often appear that way in a small market like ours, where just a few sales can have a big impact on the overall data. That's why we always want to look at year-to-date information for the clearest picture of the overall trends. In the first six months of 2017, single-family Maui home prices rose 11.5% to $705,000, compared to $632,500 during the same period last year. Meanwhile sales are up 2.4% to 546 sales, compared with 533 sales in the same period last year. This is the most significant and reliable data if you're interested in buying a Maui home.
As for Maui condos, the median price was $435,000 in June, which is a 13.3% increase from $384,000 in June of 2016. As in the case of Maui homes, rising prices didn't stall condo sales. In fact, there were a total of 123 sales, which was an increase of 11.8% compared to the 110 sales of last year.
Looking at the year-to-date statistics for Maui condos reveals percentage increases that nearly match June. In the first six months of 2017, condos reached a median price of $475,000, up 12.4% compared to $422,500 year-over-year. There were also 712 sales, a 10.2% increase compared to 682 sales in the same period last year.
If you'd like to go over the report yourself, just visit www.ramaui.com. Their latest monthly report is always at the top of the page. If you need assistance with your Maui real estate search, that's where we can help you. If you need us, you'll find our contact information at the bottom of the page. Mahalo!
Thinking about buying Maui real estate and moving here permanently? It's not just an island for retirement. Many new residents bring their families to live and work here. If your dream is to buy a home and start your own business on Maui, you may want to learn more about the Park Plaza in the Maui Research & Technology Park. It's situated in Kihei, not far from some of the finest real estate in South Maui.
Park Plaza, a 32,300-square-foot building was designed to provide Maui professionals with high quality office space. For example, its newest tenant is Reisenauer Dermatology, which opened on July 5, 2017 to offer medical, surgical and cosmetic dermatology services. The space is versatile, and there are many kinds of businesses that would be suited to the location. The space has been approved for medical, restaurant, technical, fitness, professional services, real estate and government offices, to name a few.
This location is especially convenient if you want to live and buy a home in South Maui. Or if you prefer, there are plenty of condos for sale in Kihei with a broad range in asking prices. Furthermore, if you want to live and do business in South Maui for the long haul, the Maui Research & Technology Park is one of those places in its early stages of popularity, and the buzz surrounding it continues to grow. The park now includes six additional lots for sale, from 2-3 acres in size, which is expected to bring in even more activity.
Park Plaza has a lot of great features going for it, including plenty of parking, with 122 stalls total. It also features a PV solar carport, appealing landscaping, ocean views, and a modern building design. It's not located in Central Maui, but a twenty minute drive away, and the surrounding scenery is vastly more attractive.
Scott Crawford, the Vice President of Commercial Property for CBRE Maui, was recently quoted saying, “There has been a lot of activity at the Maui Research & Technology Park with Maui Brewing Company’s new facility, the current construction of the brewpub, and the highly anticipated construction of the new Kīhei Charter School. Park Plaza is another exciting addition to this growing area where Maui professionals can lease or purchase the highest quality office and medical suites on island."
If you want to learn more about the suites in Park Plaza that are currently available for lease or purchase, you can call (808) 357-3369. If you need assistance with your residential real estate search or purchase on Maui, you'll find our contact information at the bottom of the page. Mahalo!
In the market for a South Maui real estate? Last week, we talked about a lovely 2-bedroom condo for sale at Kamaole Sands. If you're looking for something a bit more spacious, we'd like to highlight a delightful one-bedroom condo for sale, . Wondering how a 1-bedroom condo is more spacious than a 2-bedroom? Simple! Unit L105 consists of 1,039 square feet. Last week's featured listing comprised 1,036 square feet, despite the fact that it has two bedrooms. So, you get a fraction more space overall, but the 1-bedroom layout means you get a more open feel and more space per room.
This Maui Kamaole condo for sale provides a breezy, open living room that adjoins a 248-square-foot lanai with wonderful ocean and West Maui views. The lanai has in fact been remodeled by the sellers, along with the private courtyard off the Master Bedroom. Both now feature gorgeous stone flooring, while the Master Bedroom has new designer window coverings. Another unique feature is the den, which has been converted to a small bedroom but could easily be used as an office or a den as originally intended.
Maui Kamaole is a low-density complex nestled into 23 acres on South Kihei Road. This remodeled unit, L105, is located in the L building, which is at the top of the complex, meaning you get a nice big buffer from the sounds of the road. The large upper pool and hot tub spa are also just stepped away from the front door. They include scenic water features surrounded by lush tropical landscaping. The area also features a club kitchen that owners can reserve.
Conveniently, Maui Kamaole is just across the street from Kamaole Beach Park III, a great spot for swimming, sunbathing and barbecues. Nearby, you'll find great shopping, dining, art galleries, and other beaches, not to mention some of the island's finest resorts. In fact, given the amenities at Maui Kamaole, and it's great location, it has become a popular vacation destination. This unit would be ideal for use as a vacation rental if you weren't planning to live there full time.
For more information on this listing, or any other Kihei real estate that might interest you, you'll find our contact information at the bottom of the page. If you'd like to continue browsing, know that we have a database that will allow you to view all the active real estate Maui County today. Mahalo!
Sales and Prices up for Maui Homes and Condos
June was a terrific month for the Maui real estate market, which was reflected clearly in the monthly report released by the Realtors Association of Maui (RAM). Sales and median prices were up for both homes and condos, contributing to… Continue Reading
Convenient Space for Opening a South Maui Business
Thinking about buying Maui real estate and moving here permanently? It's not just an island for retirement. Many new residents bring their families to live and work here. If your dream is to buy a home and start your own business… Continue Reading
In the market for a South Maui real estate? Last week, we talked about a lovely 2-bedroom condo for sale at Kamaole Sands. If you're looking for something a bit more spacious, we'd like to highlight a delightful one-bedroom condo for sale, .… Continue Reading