Kaanapali Golf Estates Update
April 2018
LOCAL MAUI NEWS
Aloha Kaanapali Golf Estates  Owners,

Maui No Ka 'Oi
(Maui is the Best)

Time for a little Maui pride ...  
Hawaii Magazine   "Annual Best of the Best List"
 
Restaurants  3/5 were on Maui including #1 Mama's Fishhouse, Roy's and Monkeypod   
City/Town  2/5 on Maui including #1 Lahaina, and Paia
Best Beach 2/5 including #1 Makena Beach and Kaanapali Beach
Best Island MAUI #1 Again

Admit it, when you leave the Island  you miss a lot of things ... but if one of them is a Maui Taco ... weep no more.  Maui Taco  is expanding nationwide with 6 new store openings this year, and 12 more slated for 2019. *   The Tri Park Annual Pass , which allows unlimited entry for one year to three national parks in Hawaii, including Maui's Haleakala National Park, will increase from $30 to $50 beginning June 1st.
                  
Recognize the picture of that home on the left from a big 1980's TV Series?   That was "Robin's Nest" the home made famous by "Magnum, P.I." that starred Tom Selleck.  Well, it's going to be demolished and not used in the CBS pilot reboot that they're currently shooting.  Jay Hernandez will take on the role of Thomas Magnum. *  I've always touted the benefits of living in Paradise, but now it's actually been confirmed by the Journal of the American Medical Association.  Life Expectancy   in the Islands tops all other states in the Country.   Average life expectancy in Hawaii is 81.3 years. The national average is 79 years, and Mississippi had the lowest expectancy rate at 74.7 years - a 6.6 year difference when lined up with the Aloha State.  The study also reviewed life span averages by gender, and both Hawaii men and women lived longer than their average U.S. counterparts at 81 and 76 respectively. 
        CURRENT MARKET ANALYSIS
Nationally, the median list price for homes last month topped a record high set in 2017. The median list price was $280,000, up 8% year over year in March, topping lst July's record of $275,000.  Low inventory over the last two buying seasons is carrying over to this year.   Buyers are out 
in full force this spring, with more eyes on fewer homes available for sale.
       
Home prices in Hawaii rose by a smaller percentage than the national average over the past year and Oahu and Maui are among the markets that are considered overvalued, according to the newly released CoreLogic Home Price Index.   So while it's expected that home prices will continue to rise, Oahu and Maui may experience slower price growth. 
            
The median price of a single-family home on Maui fell by 10% last month.  The actual number was $680,000 last month, a 10.1% drop from $756,000 in March 2017.  The number of single-family homes sold last month declined by 4.8% to 100 homes sold, from 105 homes sold during the same month last year.  Meanwhile, the median price of a condominium jumped 15% on Maui.  The median price of a condo in March was $450,000, 15.4% higher than the median price in March 2017, of $390,000.  Sales of condos declined 4.5% to 127 units sold, from 133 units sold in March of last year. 

Now l et's take a look at Kaanapali Golf Estates :

RESIDENTIAL

Status
Address
List $
Bd
Ba
Sold $
Close
Active
346 Aalii Way
1,750,000
3
2.5
Active
261 S. Ulukoa Pl
1,900,000
3
3
Active
365 Kului Way
2,100,000
4
3.5
Active
311 Aalii Way
2,528,000
3
3.5
Active
180 Kalaihi Pl
2,999,000
4
4
Active
320 S Ulukia Pl
3,595,000
4
4.5
Active
170 Kalaihi Pl
3,690,000
4
2.5
Active
215 Kalaihi Pl
4,125,000
3
3.5
Escrow
367 Aalii Way
1,988,000
4
3.5
Sold
303 S. Ulukoa Pl
1,495,000
3
2.5
1,400,000
02/15/18
Sold
345 Kului Way
1,945,000
3
3.5
1,900,000
03/05/18
Sold
300 Aalii Way
1,950,000
4
4
1,775,000
03/05/18
KAHUA KAI
Active
50 Kahua Kai Pl
3,995,000
3
4
SUMMIT
Active
384 Weiku Pl
2,178,000
3
3.5
Escrow
183 Welau Way
2,100,000
3
3.5
Escrow
202 Wahioli Way
2,375,000
3
3.5
Sold
202 Welau Way
2,880,000
4
3.5
2,550,000
02/28/18
PINNACLE
Active
98 W. Mahi Pua Pl
2,750,000
3
5
Active
21 E. Mahi Pua Pl
2,897,000
3
4.5
Active
94 W. Mahi Pua Way
3,675,000
4
4.5
Active
23 W. Mahi Pua Pl
3,895,000
5
5.5
Active
90 W. Mahi Pua Pl
5,495,000
5
5
Sold
93 W. Mahi Pua Pl
3,695,000
3
4
3,200,000
03/14/18
LANIKEHA
Active
26 Kaulele St
2,250,000
3
3
Active
30 Lewa Lani Pl
2,400,000
3
3.5
Active
29 Ke Ahi Lel Pl
3,598,000
4
4
Active
784 Anapuni Lp
3,795,000
5
4
Active
1035 Anapuni Lp
4,450,000
4
5.5
Active
204 Anapuni Loop
4,950,000
4
3.5
Active
267 Anapuni Lp
4,995,000
3
3.5
Sold
297 Anapuni Lp
3,995,000
4
4.5
3,650,000
01/04/18


VACANT LAND

Status
Address
List $
Sq Ft
Active
261 Akai Pl
495,000
10,324
KAHUA KAI
no listings
SUMMIT
Active
195 Welau Way
424,000
10,790
Active
411 Wekiu Pl
475,000
11,112
Escrow
189 Welau Way
399,000
10,010
PINNACLE
Active
45 E Mahi Pua Pl
655,999
19,651
Active
10 W Mahi Pua Pl
799,000
18,012
Active
77 W Mahi Pua Pl
820,000
20,308
LANIKEHA
Active
627 Anapuni Lp
410,000
12,117
Active
70 Lewa Lani Pl
415,000
11,800
Active
607 Anapuni Lp
420,000
12,630
Active
747 Anapuni Lp
425,000
16,544
Active
787 Anapuni Lp
450,000
25,710
Active
995 Anapuni Lp
460,000
20,299
Active
121 Lewa Lani Pl
470,000
30,341
Active
27 Kaulele Pl
475,000
12,071
Active
837 Anapuni Lp
490,000
29,941
Active
105 Loli'i Pl
495,000
26,045
Active
1015 Anapuni Pl
585,000
20,826
Active
604 Anapuni Lp
595,000
28,156
Active
65 Loli'i Pl
600,000
20,617
Active
227 Anapuni Lp
624,900
23,265
Active
167 Anapuni Lp
625,000
21,780
Active
5 Loli'i Pl
640,000
20,473
Active
955 Anapuni Pl
649,000
20,611
Active
377 Anapuni Lp
695,000
21,192
Active
477 Anapuni Lp
695,000
30,880
Active
324 Anapuni Lp
749,000
40,862
Active
404 Anapuni Lp
795,000
40,862
Active
524 Anapuni Lp
835,000
47,687
Active
25 Loli'I Pl
849,000
20,219
Active
564 Anapuni Lp
950,000
43,643
Active
224 Anapuni Lp
985,000
40,844
Active
184 Anapuni Lp
1,074,900
43,358
Active
164 Anapuni Lp
1,200,000
50,530


THE VINTAGE
Status
Unit
Bd
Ba
List $
Sold $
Close
Active
162
3
2.5
875,000
Active
141
3
2.5
995,000
Escrow
134
3
3
1,550,000
Sold
42
3
2.5
845,000
801,000
01/08/18
Sold
66
3
2.5
1,090,000
1,090,000
01/05/18
Sold
10
3
2.5
1,200,000
1,750,000
02/20/18

Figures from Realtors Association of Maui
TOURISM
Investors spent top dollar in 2017 to buy Hawaii hotels, which averaged the highest price per room of any state.   According to  STR, a hotel research company, the average Hawaii hotel sold for $536,481 per room. That's more than double the average price paid for hotels nationwide: $240,000 per room.  Nationwide, STR expects hotel values "to remain at an all-time high in 2018, despite a rise in interest rates."  Hawaii is routinely the top-performing state when it comes to hotel occupancy and room rates, and that has certainly been the case so far in 2018.
                        
The success of Hawaii's hotel industry over the past year has had statewide benefits, but higher average daily rates have had a negative impact on the Island's MCI (meetings, conventions and incentives) market.   Hotels are so full they don't need to discount for group business.   If you've tried booking a hotel room, you know how expensive they are. Then add on eating every meal out!  If you or your family and friends need a place to stay on Maui that has all the amenities and then some (fully equipped kitchens, laundry, free parking etc) then you owe it to yourself to check out  Maui Beachfront Rentals That's where I keep my vacation rentals, and my guests save money by avoiding all those inflated fees by travel agencies. Their service doesn't stop with the booking - locally based staff is available 24/7. Likewise, if you're looking for a way to offset the cost of owning your home or condo, consider renting it thru MBR . I do,and for me it means  no hassles.    No more trying to cover all my bases with a local rental agency here plus extra advertising on sites like VRBO, HomeAway, Flip Key and others to try and get a decent return.    MBR covers it all and at no additional cost.
TRAVEL
Hawaiian Airlines   has introduced their first Hawaiian language flight to the Mainland.  In an effort to expand its Hawaii culture offerings, the eight flight attendants will engage with customers in Hawaiian and English. 
              
Southwest Airlines has filed an application for a revocable permit at Lihue Airport on Kauai, indicating the carrier's intention of servicing Neighbor islands.  Last month, the airline was issued a revocable permit for airline operations at Honolulu International Airport.  Southwest is expected to launch ticket sales in Hawaii sometime this year. 
                       
United Airlines  is gearing up for summer with new free entertainment options. Live-streaming Direct TV was the only option on over 200 of their aircraft. Now in addition, passengers will be able to use their personal laptops and cell phones to access a full library of free movies and television shows.
      MORTGAGES
  Dean Rathbun  of  Avis Mortgage  has some behind the scenes information about the Fed's last meeting. As you may already be aware, last month, the Fed lifted the federal funds rate to a range of 1.5% to 1.75%.  That was an increase of a quarter of a percentage point.  The Fed's target rate helps determine rates for mortgages, credit cards and other borrowing.  It was the 6th increase since December 2015. Yet rates are still extremely low by historical standards.  
    
What could be more revealing are the actual minutes of that meeting. Buoyed by a strengthening economy and increased confidence that the Federal Reserve will reach its inflation target in the near future, central bank policymakers suggest the path of future rate hikes could be "slightly steeper" over the next few years than previously thought.

According to  Dean , the minutes reflected that "Members agreed that the strengthening in the economic outlook in recent months increased the likelihood that a gradual upward trajectory of the federal funds rate would be appropriate."
MAUI HAPPENINGS 
Hau'oli La Makuahine
         Sunday May 13th

4/27 & 5/3-5: 18th Annual Maui Matsuri Festival  details
5/2-3: Hawaii Small Business Conference  info
5/05: 39th Annual Women's 5K Run & 1 mile walk  schedule
6/7-10: Kapalua Wine & Food Festival   tix on sale now 

Maui OnStage    Iao Theater    tickets
4/27-5/13: Of Mice and Men
5/25-27: Maui Chamber Orchestra - Musicals
7/13-8/5: Singin' In The Rain

Maui Theater   Monday, Tuesday, Thursday Friday tickets  
"Ulalena"           Hawaiian Show 5pm
"Burn'n Love"   Relive Elvis in Hawaii Concert 7:30pm

Maui Arts & Cultural Center    
   tickets  
4/28: Cazimero Lei Day Concert
5/2-3:Hawaii Small Business Conference
5/05: The Green, Iration, Anuhea, Jordan T   reggae
5/11: Starry Night Cinema:  Wall-E
5/16: Josh Smith and His Power Trio   blues
5/17:  Josh Tatofi Ku'u Leo Aloha  "The Voice of Love"
5/19: 10th Annual Maui Brewfest
5/25: artist to Artist: Henry Kapono & Malani Bilyeu

Mulligans On The Blue    Tuesdays
6:30 pm Free Magic Show
9:00 pm Open Mic Comedy

37th Annual Season Maui Classical Music Festival   info
5/04: Basically Beethoven
5/07: Tangos and Romance
5/09: Hana Community Concert
5/11: Festival Finale

Things couldn't be better on Maui right now. Spring is in the air, and while that means tornadoes, snow, and flooding in many parts of the nation ... it's all paradise here. There are plenty of visitors here now that are tempted to get their own piece of paradise, and inventory is limited.  If  you're even thinking about selling your property, give me a call and I'll give you a confidential no obligation estimate of your property's value.  Likewise, if you're considering adding to your real estate portfolio, you might want to lock in those low interest rates now before the Fed raises their rates again.   As fellow Kaanapali Golf Estate owners with over 30 years experience in the Maui market, you can't put yourself in better hands.   Remember, we are the only Berkshire Hathaway Real Estate Brokerages on Maui. Our offices are located in Lahaina-Kapalua and Wailea-Makena.  I'm available to you 7 days a week.                   

Alex, Leslee, and John
Your Kaanapali Specialists
If you are currently listed with another Broker, this is not intended to disturb that relationship
Local Lender     
Low Fixed & Adjustable Rates
Condo-tel Lender for over 23 Years
DEAN RATHBUN
Toll Free (888) 455-AVIS (2847 )
Increased Income  Reduced Expenses
Never Pay For Guest Damages
Guest Travel Insurance
 Eliminates Guest Refunds
Maui Beachfront Logo Shell
MAUI BEACHFRONT RENTALS
Toll Free (888) 661-7200
                 Berkshire Hathaway  HomeServices  Maui Properties   

             Copyright © 2017 . All Rights Reserved.