Kaanapali Hillside Update
July 2019
LOCAL MAUI NEWS
Aloha Fellow Kaanapali Hillside Owners,  

So what could that crazy looking aircraft to the left, and beer have in common?  Wait, you don't know?  Well than you've certainly heard of UFOs ... check.  And you may be aware that this month marks the 50th Anniversary of America's Moon Landing.  Still not putting it together?  Don't worry, that's what I'm here for.  That aircraft is the NASA ER2.  The beer company is Lanikai Brewing.  In this case UFO stands for Unidentified Fermenting Object.  And it all has to do with marking the moon landing anniversary.  Brewer Steve Haumschild has collected wild yeast strains around Hawaii for years, but a chance conversation with two customers who just happened to be NASA research pilots turned into the quest for space yeast at 70,000 feet. It worked. And now he brews "space beer" or "Interplanetary Ales". For the whole article  click here.

There's a new medical option that's just rolled out for Hawaii residents and visitors alike.  CVS Health (parent company of Longs Drugs) is now offering "MinuteClinic Video Visits" a telehealth offering providing patients with 24-hour access to care from your mobile device or computer as well as the ability to call in prescriptions.  It's already available in 26 other states. For details  click here.   *   Governor Ige has signed a bill to increase the state's tax credit for film, television and digital media. Citing how the industry helps Hawaii's economic growth and creates jobs, the tax credit will be boosted to $50 million from its current $35 million.

Apparently it's "survey" time, and Hawaii's shown up on several  "best of"  lists.

       US News & World Report Best Places to Visit Maui #4


       USA Today Best Beaches in Hawaii Kaanapali Beach #1


       Gallup Poll 10 Happiest States Hawaii #1


       Golfweek Magazine Hawaii Best Courses Kapalua Plantation #1

Kapalua Bay Course #12


      Golfweek Magazine Top 100 Best Courses Kapalua Plantation #20


      Golfweek Magazine Top 100 Modern Courses Kapalua Plantation #45


       Bankrate Best States to Retire In Hawaii #10


       Travel + Leisure Best Hotels in the World Montage Kapalua Bay #63

Hotel Wailea #73

        CURRENT MARKET ANALYSIS
 
Home prices on Maui rose by single digits in June compared to a year ago and the number of homes sold also went up year over year.  There were 87 single-family homes sold on Maui last month, which was 2.4% more than the 85 homes that sold in June 2018.  The median price of those homes was $750,000, which was an increase of 3.4% from the median price last year of $725,000.

Condominium prices enjoyed a big jump, while the number of sales dropped.  The median price of a condominium on Maui in June was $552,000, an increase of 7.2% from $515,000 in June 2018, and its highest mark in a decade!  But the number of sales dropped 19.2% to 122 units, from 151 units sold in June 2018. Available inventory - the number of properties actively for sale - broke all-time lows in June.  With supply low, it could signal a seller's market.

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

VACANT LAND

Status
Address
List $
SqFt
Sold $
Close
Active
51 Pihaa St
515,000
10,759
Active
10 N Iwa Pl
564,950
14,810



RESIDENTIAL

Status
Address
List$
BD
BA
Sold $
Close
Active
33 N Piki Pl
1,150,000
3
3
Active
139 Hakui Lp
1,795,000
4
5
Active
21 Puu Huna Pl
1,899,000
4
5
Active
326 Kainoe St
2,100,000
4
3
Active
304 S. Kainoe St
2,195,000
5
6.5
Escrow
129 Mauli St
1,300,000
3
2.5
Escrow
19 N Iwa Pl
1,475,000
4
3.5
Sold
30 N Iwa Pl
1,278,759
3
3.5
1,248,750
07/12/19
Sold
127 Hakui Lp
1,399,000
3
3
1,369,000
05/31/19
Sold
117 Hakui Lp
1,190,000
4
3.5
1,150,000
03/22/19
Sold
148 Hakui Lp
1,480,000
3
3.5
1,370,000
01/31/19
Sold
32 N Piki Pl
2,275,000
3
3.5
2,075,000
01/31/19
Sold
195 Hakui Pl
1,400,000
2
2.5
1,075,000
01/29/19
Sold
319 Mauli St
1,599,000
5
3
1,599,000
01/08/19

Figures from Realtors Association of Maui
FEATURED LISTINGS

10 N. Iwa Place
Kaanapali Hillside - Vacant Lot
$564,950
 
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)


             


      TRAVEL
Makani Kai Air   will begin offering 4 daily  round trips  between Kona and Kahului August 1st. If you're interested, they're offering an introductory fare of $49 each way. Just make your reservation by August 31st for trips up until Sept 30th.  Makani Kai Air is the "fixed fare" airline with prices the same on weekends, holidays or any other time.

Alaska Airlines is increasing its flights to popular sun spots this winter to provide rain-addled folks from the Pacific Northwest with more options to Hawaii. Alaska will add a third daily flight between Seattle and Maui starting November 21st.  That's in addition to a recently added third daily flight between Seattle and Honolulu.

Hawaiian Airlines is now selling tickets for its forthcoming nonstop service between Honolulu and Fukuoka, Japan. Service will launch November 26th with 4 weekly flights.  This new connection marks continued expansion for Hawaiian's Japan service, which includes 31 weekly nonstop flights between Hawaii and Japan. Routes include connections to Osaka, Sapporo, and Tokyo's Haneda and Narita airports.

The photo to the right is of the HAWK30 ... a 260-foot-long solar-powered flying wing. A joint venture between Japan's SoftBank and unmanned aircraft systems developer AeroVironment will begin test flights on Lanai. If successful, it could be part of a network of drones loitering in the stratosphere providing 5G cell phone coverage. State officials say the solar powered aircraft can stay aloft for months at a time and provide global cell connectivity.

           
 
TOURISM

This year, Hawaii is expecting to draw a record 10.2 million visitors, with continued growth expected in the future.  The industry now accounts for 125,000 jobs - roughly one in five jobs in Hawaii.  And as you read above, airlines are expanding flights into Hawaii.  A striking statistic is that even as Hawaii's visitor count has risen significantly, the number of people staying in traditional hotels - or even the number of hotels - hasn't grown much.  So where are these millions of additional people staying?  According to the Hawaii Tourism Authority, they're staying in vacation rentals.  It's not surprising that those visitors spend, on average, less for lodging than people staying in hotels.  In fact, people staying in hotels spend more across the board.



On the other hand, the owners of the vacation rentals are enjoying a steady stream of income for their property when they're not using it.  I do it with my rental properties.  At first I tried renting them out myself - what a headache.  Now I have all my rental properties being handled by  M aui Beachfront Rentals .  Do what I do now and check out  MBR .  They take all the hassle out of it for you.   And they market the heck out of your place with extra advertising on sites like VRBO, HomeAway, Flip Key and others ... all at no additional cost.
      MORTGAGES
Dean Rathbun  of  Avis Mortgage  noted that earlier this month, The Standard & Poor's 500 Index set a new record, closing about 3,000 for the first time.  Other major U.S., stock indices also finished at record highs.  Company fundamentals, investor sentiment, and geopolitics all have the power to push stock prices higher.  However, those gains can also be attributed to Federal Reserve Chair Jerome Powell's testimony before Congress and the expectation the Federal Reserve will lower the Fed funds rate at the end of this month.

"Mr. Powell laid out the case for monetary easing by highlighting some
 softness in indicators such as business fixed investment and persistently
low inflation.  But mostly. he stressed the impact of uncertainty stemming
from trade tensions, weak global growth, the possibility that the U.S. 
Congress fails to raise the debt ceiling, and a no-deal Brexit."

Black Knight, a mortgage software and analytics firm, estimate that 8.2 million borrowers could refinance and potentially lower their monthly payment by at least 75 basis points. The average borrower stands to save about $266 a month on their mortgage by refinancing.  About 1.5 million borrowers - or 35% of those who took out their loans last year - could benefit from refinancing.
MAUI HAPPENINGS    
Paul Simon Concert

8/02-23: Youth Arts Exhibition schedule
8/03:  7 th Annual Huliau Food & Film Festival  info
8/04: Maui Coffee Assoc. 12th Annual Seed to Cup Event  details
8/07: Jazz at the Shops of Wailea 5:30pm - 7pm
8/21: Henry Kapono Concert at the Shops of Wailea 5:30pm - 7pm
8/24-25: Emma Farden Sharpe Hula Festival under the Banyan Tree in                    

Aloha Friday Free Movie Night   info  
8/16: Hotel Transylvania 3: Summer Vacation

Maui OnStage    Iao Theater    tickets
7/12-8/4: Mama Mia   musical
8/09-10: Kevin Farley  comedy
9/27-13: The Graduate  play

Maui Arts & Cultural Center    tickets
7/21: Gary clark Jr.  mix of blues, rock & soul
The MayJah RayJah
7/26: Damian 'Jr. Gong' Marley
7/27: SOJA
8/01-04: "Tortilla Curtain"   drama based on  T.C. Boyle's bestselling novel
8/13-14: Paul Simon in concert
8/17: 25th Anniversary of "Maui Calls"   premier wine & food tasting event
8/24: Beat-Lele   Ukulele tribute to The Beatles

ProArts Playhouse Kihei    tickets
9/13-29: Strangers On A Train


Maui Obon      schedule
7/19-20: Kahului Hongwanji Mission
7/26-27: Makawao Hongwanji Mission
8/02-03: Wailuku Hongwanji Mission
8/9-10: Lahaina Hongwanji Mission
8/17: Rinzai Zen Mission, Pai'a
8/24: Kula Shofukuji Mission
9/07: Hana Buddhist Temple


As you can see from all those "Best Of" lists, Maui is doing gangbusters.  In my "Tourism"section the visitor count is breaking records.  And from my "Current Market" section you can see that available inventory for sale is at an all time low.  Do the math.  More and more visitors are coming, many of them wanting to own their own piece of paradise, and available inventory at an all time low.

If you'd like to see what your property is worth in this market, we 'd be more than happy to provide you with a free, no obligation, confidential assessment of your property.  Conversely, if you're looking to add to your real estate portfolio, let us know.   As owner of Berkshire Hathaway Maui Properties I 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 hope you're enjoying our monthly updates.  Feel free to share them with your friends and neighbors.  If they like, we'll add them to our update list. Completely private and never any junk mail.

Alex, Leslee, and John
Your Kaanapali Specialists

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