Kapalua Golf Villas Update
October 2018
LOCAL MAUI NEWS
Aloha Kapalua Golf Villa Owners,  

Maui Humpback Whale & Rainbow
They're back!  We've had the official first whale sighting of the season on Oct. 8th.  At least 12,000 humpback whales are believed to migrate to Hawaii's each winter to mate, give birth and care for their young calves. * The Blackstone Group, which paid more than $1 billion at the beginning of this year to buy the Grand Wailea resort, is continuing its Maui buying spree with the acquisition of the Ritz-Carlton, Kapalua
       
Things are looking up all over Hawaii.  Take Pierre Omidyar, founder of eBay and Hawaii's wealthiest full-time resident.  He just moved up 10 notches to #38 on this year's list of the 400 richest Americans compiled by Forbes Magazine. * Conde Nast listed Hotel Wailea in it's #1 spot on their "Traveler's Best Resorts" in Hawaii. Meanwhile Conde Nast "Readers' Choice" award voted Kaanapali Beach Hotel as their #1. * And last but not least, The Maui Ocean Center has recently been named among the "Top 10 Aquariums in the World" by TripAdvisor.
              
Seven large Solar and power storage projects statewide- including two on Maui are in negotiations and represent the largest infusion of renewable energy in state history.  The announcement comes on the heels of Maui's second utility-scale solar project, Ku'ia Solar coming online Oct. 4th.  The addition of Ku'ia Solar increased Maui Electric's renewable energy portfolio to 34%, which is ahead of the state's target of 30% renewable energy by 2020.
        CURRENT MARKET ANALYSIS
The median price of a single-family home on Maui last month was $754,248 a 16% jump compared to $650,000 in September last year. That was based on sales of 80 homes compared to 81 homes sold in September 2017.  There's been more variability in single-family home median prices, ranging from a  decrease of 10.1% in March, to the 16% increase in September.

The number of condos sold in September also declined slightly to 121 units sold, a 4% decline from 126 sold during the same month last year.  The median price of those condos, however, rose 18.2% to $501,000 in September, from $423,750 during the same month last year.  September marked the 4th straight month of double-digit increases for condos: up 19.8% in June, 15.6% in July, and 26.2% in August. * Maui is having a banner year for condominium sales so far in 2018, with year-to-date sales rising by more than 20% and the median price increasing by more than 10% through the first three quarters, compared to the same time period last year.  On Maui there were 1277 sales of condo units during the first three quarters of 2018, an increase of 21.6% from 1,050 units sold through the first nine months of 2017.  The median price of those units was $499,000, 11.4% higher than the median price last year of $448,000.
 
Now l et's take a look at the Kapalua Golf Villas :

Status
Unit
Bd
Ba
List $
Sold $
Close
Active
19V2
1
1.5
699,000
Active
15V1
1
1.5
715,000
Active
16T1
1
1.5
765,000
Active
23T1-2
1
2
735,000
Active
15V3
1
2
750,000
Active
26T12
1
2
759,000
Active
12T1
1
2
775,000
Active
17T7
1
2
785,000
Active
27T12
1
2
788,000
Active
22V1
1
2
949,000
Active
15P3-4
2
2
933,900
Active
14V3-4
2
2
934,000
Active
14P7-8
2
2
935,000
Active
12P5-6
2
2
939,900
Active
17P1-2
2
2
965,000
Active
25P5-6
2
2
975,000
Escrow
15T5-6
1
2
598,000
Escrow
26T8
1
1.5
750,000
Sold
25V-1
1
1.5
620,000
575,000
07/27/18
Sold
16T3-4
1
2
685,000
650,000
06/06/18
Sold
17T3-4
1
2
712,500
712,500
04/24/18
Sold
26P1-2
2
2
749,900
760,000
07/31/18
Sold
27P7-8
2
2
849,900
849,900
07/09/18
Sold
23P1-2
2
2
895,000
868,000
01/24/18
Sold
22P1-2
2
2
914,000
900,000
04/03/18
Sold
16P5-6
2
2
930,000
900,000
03/23/18
Sold
21P1-2
2
2
975,000
955,000
10/10/18
Sold
24P5-6
2
2
995,000
960,000
04/27/18

Figures from Realtors Association of Maui
TOURISM 
The holidays are coming, and it's not too soon to think of where your friends and family should stay if they're coming out to visit.  Likewise, if you don't plan on being here, but don't want your unit sitting empty, check out where I keep my short term vacation rentals -M aui Beachfront Rentals . You know the Island is going to get inundated with visitors for our huge Halloween Festivities, not to mention all the other holidays coming up right in a row! It's a win - win all around. I can keep my guests happy by having them avoid all those inflated fees by travel agencies, and having a local staff that's available to them 24/7.  They get more bang for their buck ... fully equipped kitchens, laundry, free parking, and amenities.  I get a lot of repeat guests.  AND  MBR  takes all the hassle out of it for me.  They cover all the bases plus extra advertising on sites like VRBO, HomeAway, Flip Key and others ... all at no additional cost to me.  AND they handle all the collection of taxes from the rentals.
      MORTGAGES
Dean Rathbun  of  Avis Mortgage  shares that the 30-year fixed-rate mortgage hasn't averaged this high since 2011, as it inches closer to the 5% threshold.  The Fed raised its benchmark interest rate last month for the 3rd time this year, into a range between 2 and 2.25%.  President Trump has vocalized his displeasure with the Fed's action, none-the-less another quarter-point increase is expected in December.

Jerome Powell, the Federal Reserve chairman, stated that the current combination of low inflation and low unemployment could continue for some time.  The U.S. economy is experiencing what Powell recently called a "particularly bright moment."  Inflation is hovering around the 2% annual pace the Fed regards as optimal while the unemployment rate was just 3.9% in August.  Fed officials have predicted that both inflation and unemployment will remain around the same low level for the next several years.
For one night each year, Front Street transforms into a giant Halloween Party. Front Street closes down to all vehicles so the pedestrians can get their party on.  Beads are tossed from the lanais above the shops on Front Street, dubbing the annual Lahaina Halloween Celebration as
The Mardi Gras of the Pacific
 Front Street closed to vehicle traffic 3:30 - Midnight
Noon - 10pm: Commemorative T-shirts Sale Cam pbell Park
4 - 5:45: Family Fun and Dance with DJ Zinn Campbell Park
4:30pm: Keiki Costume Parade Front Street & Banyan Tree Park
5pm - 8:45pm: Costume Contest Signup Pioneer Inn Retail Store
6pm - 8:30pm Music with Luna Overdrive Campbell Park
6:30pm - 9:30pm: Music with DJ Serna Banyan Tree Park
7pm - 9pm: Costume Contest Banyan Tree Park
9:30pm: Costume Winners Announced Banyan Tree Park

TRANSPORTATION
Coming to Lahaina from Kaanapali or Napili: Extended Maui Bus $2 ea way
Coming to Lahaina from Wailea or Kihei: Maui Express Tours
Coming to Lahaina from Wailuku or Kihei: Halloween Express Bus drop off & pick up at the intersection of Front Street & Prison Street
Many hotels also offer shuttle service
MAUI HAPPENINGS 

10/27: BOO Bash at Outlets of Maui  Lahaina 4pm
10/28: 2nd Annual Keiki Halloween at the Shops of Wailea 3pm
10/28: XTERRA World Championships  details
10/31: Halloween in Lahaina Town (details above)
11/3: Arbor Day 1,000 tree giveaway  info
11/4 & 12/2: Makawao Walking History Tour  schedule
11/4 & 12/2: Jazz Maui Concert 11am Queen Kaahumanu Center
11/8: David Benoit   Maui Coffee Attic
11/8: Day of Hope 5k and 10k  info
11/9: Chinese Heritage Festival Lahaina  details
11/19-21: Maui Jim Maui Invitational  Chaminade
11/22: Turkey Trot  schedule


Hawaii Food & Wine Festival   details
10/19: Roy's 21'st Annual Golf Classic 11:30am
10/20: Spiked!  6pm-9pm  Sheraton 
10/21: Keiki in the Kitchen Kaanapali  Whalers Village 10am-3pm
10/21: Symphony of Flavors 6pm - 9pm  Hyatt Regency

Maui OnStage    Iao Theater    tickets
10/20-28:  Honk Jr.
11/23 - 12/9: Elf The Musical

Maui Arts & Cultural Center   
   tickets  
10/20: Mohala Mai   hula
10/25: "Soil"  Asian intercultural dance
10/26: Livingston Taylor  in concert
10/27: Observe & Play Family Day
10/28: Bones Thugs-N-Harmony   hip-hop
11/01: Tango Extravaganza
11/2-3: Made in Maui Festival
11/04: Pilina Aloha   hula/song
11/9-10: Kumu Kahua Theatre Pakalolo Sweet    play
11/17: Dirty Heads    reggae/hip hop
11/18: Ke'ala'iliahi: A Fashion Love Affair 2018
11/25: Maui Choral Arts Holiday Concert
11/28: Lee Brice   country music
11/30 - 12/2: Hawaii International Film Festival

Mulligans On The Blue    Tuesdays
6:30 pm Free Magic Show

                   

As you read above, mortgage interest rates have risen, and the Fed is expected to raise their rate again in December.   I don't have to tell you that mortgage rates affect the housing market.  What I can tell you is that if you're considering selling your property or adding another to your portfolio, you should call me for a confidential, no obligation discussion. 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.  I'm available to you 7 days a week. 

John
Broker/Owner


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