Kaanapali Hillside Update
February 2019
Aloha Fellow Kaanapali Hillside Owners,  

You might think the picture above was taken on the East Coast during the Polar Vortex.  Well, you'd be wrong.  Earlier this month on Maui, snow blanketed Polipoli Spring State Park on the slopes of Haleakala.  At an elevation of about 6200 feet, officials said this might be the lowest elevation snow has ever been recorded in Hawaii. *  You win some you lose some on the retail side ... Target has started same-day grocery delivery on Maui, Ross will open it's 3rd Maui store at Lahaina Gateway, and say goodbye to Payless Shoe Stores. They're shuttering all stores including the one on Maui.

 A couple of new Hawaiian Pidgin words have been added to the Oxford English Dictionary.  Surprise your Scrabble friends with "hammajang".  It means all messed up.  "Howzit" is the other new entry, meaning how is it going. *  Costco has a serious interest in growing its own agricultural products right here on Maui using high-tech greenhouses. * The National Transportation Safety Board is recommending Hawaii install cameras to catch speeders.  Hawaii lawmakers agree with the use of the cameras, but instead of catching speeders, they want to use them for red light runners.

TripAdvisor debuted a list of the nation's 25 most romantic restaurants, and Maui's own Mama's Fish House ranked 13. *  There is a trove of never before seen photos showing Honolulu during the height of World War II. There are many closeups of service members, civilians, and children. If this interests you, or you think you might recognize any of the people in the photos, click on:  World War II Pacific Veterans Project.  *  Officials say a long-awaited one-stop Veterans Affairs facility in Kahului should have their land agreements completed this year.  The new site will consolidate the Maui Veterans Counseling Center, the state Office of Veterans services, and the VA's Maui Community-Based Outpatient Clinic.
Nationally, 2018 was the most profitable time to sell your home in 12 years. In 2018, sellers averaged a 32.6% return on investment compared to their original purchase price.  That marks the highest gains for sellers since 2006. *  This year promises to be better for buyers.  More homes are for sale so inventory isn't as tight. Home prices are, on average, rising but at a slower and healthier pace. * And 2019 is being called the best time to buy a luxury vacation home.  According to Forbes.com, more folks are pulling money out of the stock market and buying a vacation home as a retreat.

On Maui the median price of a single-family home increased 3.5% last month to $730,000, from $705,000 in January 2018.  The number of sales however, dropped 27.6% to 63 homes sold in January from 87 homes sold during the same month last year.  

The number of condominiums on Maui sold in January rose 7.4% to 130 units sold, from 121 sold during the same month last year.  The median price of those condos was $528,450 which was an increase of 4.4% from $506,000.

Now l et's take a look at the Kaanapali Hillside :


Sold $
33 N Piki Pl
117 Hakui Lp
129 Mauli St
127 Hakui Lp
21 Puu Huna Pl
326 Kainoe St
304 S. Kainoe St
12 N Piki Pl
148 Hakui Lp
32 N Piki Pl
195 Hakui Pl
319 Mauli St


List $
Sold $
45 Hakui Lp
10 N Iwa Pl

Figures from Realtors Association of Maui
10 N. Iwa Place
Kaanapali Hillside - Vacant Lot

10 N. Iwa Place is the  largest single lot   in Kaanapali Hillside at approximately a third of an acre.  This flag lot is located at the end of the North Iwa Place cul-de-sac on the front row of Kaanapali Hillsides' Phase II.  Oriented west taking full advantage of the year round sunsets, ocean and outer island views.  Kaanapali Hillside is exclusive with under 150 homes and is a golf cart drive to the beach, shopping and dining.

(click on pictures for more information)



148 Hakui Loop
3 Bedroom  3.5 Bath
$1,480,000  In Escrow

This 4,035 sf. ocean and island-view home has an open floor plan ideal for entertaining friends and family.  In addition to the two master-suites and one guest-suite, the home includes a built-in sound system, TV-room.den, and a bonus room/office.  Downstairs, the living room has custom wood floors and vaulted ceilings, and leads directly to a private tropical backyard with flagstone deck and lap pool.  The remodeled kitchen includes granite countertops, custom cabinets, and top of the line appliances.  Sold fully furnished.

(click on pictures for more information)

Alaska Airlines has  just unveiled a special-edition  Captain Marvel themed plane.  The 737 aircraft is slated for cross-country routes, including flights to Hawaii. * Southwest Airlines completed their first passenger-less test flight to Hawaii this month.  While ticket sales have not been announced yet, initial routes connecting 4 Hawaii airports (Honolulu, Kahului, Lihue and Kona) to 4 in California (Oakland, Sacramento, San Diego and San Jose) are expected to begin in April.  The carrier is considering adding nonstop Vegas-to-Hawaii flights next year. * New this month ... ride share services like Uber and Lyft have been approved for the Neighbor Island Airports ... for us Kahului and Kapalua.
Hawaii is expected to surpass 10 million visitors this year.  Visitor spending is also expected to rise 4.2% to $19.1 billion.  Given the way visitor numbers have grown each year, arrivals to Maui alone could crack 3 million this year.  Maui has more than a quarter (26.5%) of the state's visitor accommodations units.  Hotel rooms continue to account for the largest share of visitor units with about 34.5% of the supply.  Owner vacation rentals have increased from previous years to 27.7% of the supply.  The majority of Maui's visitor units are in the Luxury and Deluxe price classes ... the bulk in the regions of Wailea and Lahaina Kaanapali-Napili-Kapalua.

As you read in the above Current Market Section, many people are moving their money from  the stock market and putting it into a vacation home.  Many vacation home owners use their property to then generate income from them when they're not in use.  But who can you trust to handle the maintenance and booking of your property?  If you try doing it yourself, you just may find it overwhelming and not worth the headache.  All I can tell you is I've placed my personal vacation rentals with   M aui Beachfront Rentals  .  I can enjoy a steady stream of income without all the hassles.  When I have guests coming in I never send them to a hotel.  Why would I, when they can enjoy a fully equipped kitchen, laundry, free parking, and all the amenities of a resort through  MBR Not only will they take all the hassle out of it for you, they'll cover all the bases plus extra advertising on sites like VRBO, HomeAway, Flip Key and others ... all at no additional cost.
Dean Rathbun  of  Avis Mortgage  wants you to know that cooling inflation and slower global economic growth prompted mortgage rates to drift down to the lowest levels in a year.  Not only that, but delinquencies and foreclosures are at 10-year lows.  The decline was driven by solid income growth, a record amount of home equity and an absence of high-risk loan products.

A lot of behind the scenes talk is going on about what to do about ending the 10-year government control of Freddie Mac and Fannie Mae, which guarantee most of the mortgages in the 10 trillion dollar US housing market. Freddie and Fannie have been in "conservatorship" - which gives the government control ... but does not put their liabilities on the public balance sheet.  Collectively their balance sheets are worth about 5 trillion dollars.  For years, Congress has not been able to agree on an answer.  

Now the National Association of Realtors has put forth an option that keeps the 30-year fixed rate mortgage and preserves the Federal guarantee.  The proposal envisions reforming Fannie and Freddie into a federally chartered private utility.  It would use the two companies' common securitization platform, maintain the federal guarantee for catastrophic risks, while having private shareholders in the utility take the first-place risk.

Steve Mnuchin, the Treasury secretary is also working on a set of proposals that would not require Congressional backing.  One option would be simply to recapitalise the two institutions and allow them to enter the private market as they are.  Another alternative for the administration is not to remove them from conservatorship at all, but to recapitalise them while under government control and shrink their scope.  Expect blow back from the banking industry which doesn't want to compete with two fully-capitalised government-backed entities.

We haven't heard the last on this one folks ...
Maui 5K

2/16-24: Maui Plein Air Painting Invitational  particulars
3/03: 8th Annual Maui 5K  info
3/03: Carnivale! Brazilian/New Orleans Style Festival  details
3/30: Great Whale Count - Volunteer  sign up

Free Movie Night at Whalers Village    (15 min after sunset)  
2/26 & 27: Hotel Transylvania 3
3/5 & 3/7:  The Nut Job 2: Nutty By Nature
3/12 & 3/14: Moana
3/19 & 3/21: Brave
3/26 & 3/28: Monsters vs Aliens

Maui OnStage    Iao Theater    tickets
3/01-17: Pirates of Penzance
4/26-5/12: The Boys Next Door
7/12-8/4: Mama Mia

Maui Arts & Cultural Center   
2/22: Starry Night Cinema:   "Incredibles 2"  Free
2/23: Kainani Kahaunaele   Hawaiian music
2/28: Jacob Jonas The Company   dance
3/01: Corrinne Bailey Rae   in concert
3/03: Ebb & Flow Arts   violin, cello & piano
3/07: Marc Bamuthi Joseph's "Pehlotah"   soccer, poetry, performance art
3/09: Solo Sessions: Tavana   1-man rock & blues band
3/10: Spring Pops   Big Band
3/14: L.A. Dance Project
3/15: My Name is Opukaha'ia   1-person play
3/16: Jake Shimabukuro   ukulele
3/20: Morgan Thorsen Dance
3/21: Zakir Hussain with Niladri Kumar   Indian Table and sitar
3/23: Ana Vidovic   guitar virtuoso
3/24: Rise of the Wahine   movie
3/24: Steven Curtis Chapman   Christian music
3/28: Bill Kirchen Band   rock concert
3/29: Henry Kapono & Brother Noland

Mulligans On The Blue    Tuesdays
6:30 pm Free Magic Show
9:00 pm Open Mic Comedy Night (except 1st Tues of the month)

After reading our current market analysis, record breaking tourism expectations, and the mortgage industry trends, you can see how important it is to have a real estate professional who not only has that knowledge, but also has their hand on the pulse of the Maui real estate market.  As owner of Berkshire Hathaway Maui Properties we have over 30 years experience in the Maui market with sales approaching $2 billion!  We a re the  only  Berkshire Hathaway Real Estate Brokerages on Maui. Our offices are located in Lahaina-Kapalua and Wailea-Makena.  We're available to you 7 days a week.  We invite you to call for a confidential no obligation discussion of your property.  And if you enjoy our monthly updates, feel free to share them with other owners who we might not have email addresses for.

Alex, Leslee, and John
Your Kaanapali Specialists

If you are currently listed with another Broker, this is not intended to disturb that relationship
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