If you're browsing Maui real estate because you're thinking about making a permanent move to the island, you may have been contemplating your professional ambitions lately. Maui is an interesting place to earn a living, especially for creative, enterprising types. Fortunately, employment opportunities have been expanding over the years. According to the state Department of Labor and Industrial Relations, as of August, Hawaii's unemployment hasn't been this low since April of 2007.
Based on their report, Hawaii's seasonally adjusted unemployment rate was just 2.6 percent last month. In comparison, the national rate was 4.4 percent. Maui's unemployment rate, which was not seasonally adjusted, was even lower at 2.3 percent. That's down from 2.4 percent in July, and also down from 2.9 percent in August of last year.
What really stood out about the report was Molokai and Lanai, the other islands in Maui County. Lanai's unemployment rate was just 3.1 percent, down from 6 percent in July and 5.5 percent in August of last year. Molokai's unemployment rate was 7.6 percent, down from 9.2 percent in July, and up just a bit from 7.3 percent in August of last year. Combining all three islands for the Maui County unemployment rate, the figure was 2.5 percent, down from 2.7 percent in July and down from 3.1 percent in August of last year.
Low unemployment rates are a significant factor in a healthy economy. That's something to keep in mind as you make your future plans to buy Maui real estate and work here. To add some extra clarity to the economic picture, the report revealed that the growing industries included Professional & Business Services with 1,300 new jobs, and construction with 400 new jobs.
Once you're ready to move forward with a Maui real estate purchase, getting pre-approved for a loan is a crucial step in knowing how much home you can afford based on your current and continued income. This helps prevent future disappointments if you're dead set on buying a specific property only to find that you aren't approved for the sale price.
For assistance with these steps, your real estate search, and every step of the buying process, you'll find our contact information at the bottom of the page. We would be happy to help you make the right Maui real estate investment for your specific needs. For other updates on Maui real estate listings, the market, events, and lifestyle, we release a new blog every Friday, and you can also browse through past topics for interesting information. Mahalo!
The statistics are in for Maui's real estate market performance in the month of August. This is the time of year when sales tend to slow down as families prepare for a new school year, which makes it the least convenient time of year for parents to uproot and move their kids. Interestingly, both home and condo sales were higher in August than in July, but June unsurprisingly saw the most sales of the three. As for how August of 2017 compared to the same month last year, condo prices and sales dipped, while single-family home sales and prices increased.
The number of single-family home sales in August tallied up to 105, which was a 9.4 percent increase in comparison to the same month last year. Prices rose 4.2 percent from $672,063 to $702,000. If you're in the market to buy a Maui home, competition is pretty fierce, so making a good offer is key.
The report revealed that condominium sales fell 11.3 percent to 110 units in August. Prices were down 4.8 percent to $400,000 from $420,000 in August of last year. When it comes to condos, it's important to have a clear plan in terms of what you want to use it for, whether as a full-time residence or as a vacation rental property. Not all condos are permitted for short-term rental, and as for full-time residence, you might be tempted to buy a unit with an affordable listing price without really investigating the monthly fees. We can help you evaluate the viability of any Maui condo for your plans, so you get the best possible outcome.
Lastly, and most importantly, the year-to-date statistics of the report always paint a more reliable picture than the monthly data, especially in a small market like ours. For the first eight months of the year, condo sales are up 4.9 percent to 924 and median prices are up 4.9 percent to $450,000. Single-family home sales are up 2.9 percent to 743, while prices are up 11.1 percent to $702,000.
As you become familiar with the Maui real estate market, you'll discover that there are a number of unique factors that you won't find in Mainland markets. Although no two markets are exactly the same, Hawaii takes that uniqueness a step further with regard to terminology, types of ownership, permits, and other factors. That's why it's so vital to work with an experienced Maui realtor in your search for the right property. If you need our assistance, you'll find our contact information at the bottom of the page. Mahalo!
When you're searching for the perfect Maui home, it can be easy to get swept up in the many enticing features that each of them have to offer, but it's important not to forget the value of a great neighborhood as well. You can find both in Maui Meadows, which includes a large collection of beautiful, well-maintained homes that form a quiet community with magnificent ocean views in South Maui. If you're looking for quality and plenty of space, you will consistently find both in Maui Meadows.
One of the best features of this South Maui residential subdivision is the number of listings to choose from. There are more than 600 lots of various sizes in Maui Meadows, including those with rural and agricultural zoning. You can find everything from modest single-family homes to gated estates with ohana and other multi-family features. Throughout the spectrum, you'll find that these properties tend to share some common qualities, like being well-maintained and incorporating lush tropical landscaping into their outdoor spaces.
Because Maui Meadows is perched on the lower slopes of Haleakala, just above Pi'ilani Highway, stunning ocean views can also be counted among the prevalent features. You can easily see the neighboring island of Kaho'olawe and Molokini Crater off in the distance as well. Its elevation also provides slightly cooler temperatures than sea level areas, and helps to separate it from the more crowded development that clings to the coastline. So, you get quick access to all the exceptional beaches, restaurants, spas, shops, activities, entertainment, conveniences and five-star resorts of South Maui, but you still get to enjoy an environment that's more comfortable, private and quiet than the beachfront neighborhoods.
Planning on moving your family into your South Maui home? Nearby, you'll find Kamali'i Elementary, Kihei Intermediate, and Kihei Charter School. Even Maui High School in Kahului is only about twenty minutes away. You'll also find plenty of things to enjoy with the whole family, like beach days, ziplining, kayaking, surfing, stand-up paddle boarding, and visiting the Maui Ocean Center, among others.
To get started on your search, you can peruse the current collection of Maui Meadows homes for sale. If you're thinking about building your dream home, you can take a look at Maui Meadows vacant land for sale. If you have any questions about the area, the listings, or any other part of your search for Maui real estate, you'll find our contact information at the bottom of the page. We would be happy to help you get acquainted with Maui's finest qualities as we work with you to find and purchase the right property for your unique needs. Mahalo!
Maui Unemployment Continues to Fall
If you're browsing Maui real estate because you're thinking about making a permanent move to the island, you may have been contemplating your professional ambitions lately. Maui is an interesting place to earn a living, especially for creative, enterprising types. Fortunately, employment opportunities have… Continue Reading
Maui Real Estate Market Report for August of 2017
The statistics are in for Maui's real estate market performance in the month of August. This is the time of year when sales tend to slow down as families prepare for a new school year, which makes it the least… Continue Reading
All About Maui Meadows Real Estate
When you're searching for the perfect Maui home, it can be easy to get swept up in the many enticing features that each of them have to offer, but it's important not to forget the value of a great neighborhood as well. You… Continue Reading
Hawaii Named Best State for Women's Equality
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