starfish on the beach with witch s hats and brooms
Wailea Fairway Villas  Update
October 2019
LOCAL MAUI NEWS
Aloha Wailea Fairway Villas Owners,  

The weather may be belying the truth, but the Holidays are upon us!  And for Maui that means the biggest Halloween celebration of them all ...

The Mardi Gras of the Pacific!

I  have a  boo-tiful   section about it down below.


See that tiny speck of a person climbing the sheer rock face to the right?  Well take a good look, cuz that's a picture taken last year and now you won't see that activity.  The State is restricting access to the Lihau section of the West Maui natural Area Reserve for 2 years.   The Maui rock climbing community is frustrated with the decision,  but the Division of Forestry & Wildlife (DF&W) proved that the climbers had been installing hardware and footholds into the cliffs, impacting endangered native plants.

Folks at the Division (DF&W) have been busy little bees, and have also been working with the Sierra Club Maui and Haleakala Ranch on access to Haleakala Trail.  The three parties have agreed on a proposal to have a reservation system for guided hikes on the first Saturday of each quarter. The tours will allow to up to 20 pedestrians ... no horses, bikes, vehicles etc.
        CURRENT MARKET ANALYSIS
 
Nothing scary about the housing market on Maui.  Single-family home sales jumped last month compared to the same time period last year, while the median price of a Maui condominium grew by 10% !  There were 118 single-family homes sold last month, an increase of 47.6% from 80 homes sold in September 2018 ... and up 18% from just the month (August) before.  The median price of those homes was $719,718 which was a drop of 4.6% from $754.248 in September of last year.

The median price of a condo on Maui last month was $540,000, a 9.6% increase from $492,400 in September 2018.  The number of condo units sold declined by 3.3% to 119, from 123 last year.

Year-to-date, prices for both single-family homes and condos were higher than a year ago, while the number of sales for both categories were lower.   It appears sales will remain strong in the coming months with pending sales, those in escrow, up 26% year over year with 83 properties. 

The inventory of homes for sale (441) fell to its lowest point in a year in September, continuing a decline that began six months ago. Inventory was 13% lower than last September.  Same thing for condo inventories.  They hit their lowest point in a year in September at 462 units, down 18.5% from 2018.  Interesting to note that both condo and home sellers were getting 98% of their asking price last month ... the highest percentage in a year for both sectors.

Now l et's take a look at Wailea Fairway Villas :

Status
Unit
Bd
Ba
List $
Sold $
Close
Active
L103
2
2
749,000
Active
X201
2
2
799,000
Active
Y103
3
3
1,249,000
Escrow
U201
2
2
599,000
Escrow
M103
3
3
759,000
Sold
A102
2
2
619,000
619,000
07/12/19
Sold
D102
2
2
739,000
725,000
01/18/19
Sold
J102
2
2
749,000
735,000
08/22/19
Sold
E102
2
2
759,999
720,000
01/18/19
Sold
R202
2
2
829,000
810,000
05/20/19
Sold
E103
3
3
1,195,000
1,195,000
06/14/19

Figures from Realtors Association of Maui
      TRAVEL
Funny mummy in a skirt dancing Hawaiian dance The lure of Hawaii for South Bay vacation travelers and the fight among three airlines to make money serving that market has taken another turn, with a trio of airlines expanding their service or launching new offerings to the islands from San Jose, CA. 

Southwest Airlines filed schedule changes for San Jose and Oakland that will increase service from both cities to Kona and Lihue (Kauai) to daily roundtrips effective March 8, 2020.  Southwest, which announced in the summer that it would expand from two to four islands, also moved the start date for that to next month.

Five days after Alaska Airlines announced it was dropping its service between San Francisco and Sacramento to Kona, the airline has filed schedule changes to increase its Kona service from San Jose and San Diego.  The cutbacks occur March 18-19, 2020, and the increases begin March 20th.  The increases will result in daily roundtrips from San Jose and San Diego.

And last but not least, Hawaiian Airlines announced that San Jose will become a test market for a new, lower fare level called "main cabin basic."

           
 
GREEN

How to approach this topic delicately ...  We've all heard the jokes about cows and methane.  Well a Hawaii company has come up with something that can change that greenhouse gas omission.  You see, cows release 30 to 50 gallon a day on average after eating grass and other feeds.  And with an estimated 1.3 to 1.5 billion cows on the planet, that's a whole lot of methane.   Enter Blue Ocean Barns. They've created a proprietary seaweed-based feed additive that reduces a cow's emissions equivalent to converting two cars from gas to electric.   



Tourism

 I've told you how Hawaii and specifically Maui are cracking down on illegal vacation rentals.  The Maui County Planning and Sustainable land Use Committee voted unanimously to recommend an increase to the initial civil fine from the current $1,000 to $20,000, and the daily civil fine from the current $1,000 to $10,000 for unpermitted bed-and-breakfasts, and short-term rentals.

Now while that may not be a problem for you at Wailea Fairway Villas, if you have friends of family coming for a visit, don't let them get caught up in that mess, or even get stuck with the high cost of staying in a hotel.  Have them check out  M aui Beachfront Rentals .  They can get a fully furnished condo or home complete with kitchen, laundry, and free parking ... all things you either can't get - or pay thru the nose for at hotels.  And of course they'll enjoy all the amenities of a Resort! 
      MORTGAGES
Dean Rathbun  of  Avis Mortgage  says buyers shouldn't worry about the leap in mortgage rates last week.  Economists largely predict rates will dip in the weeks ahead. Also, rates are still more than a percentage point lower than a year ago.  *  The Federal Reserve is divided over the next move on rate cuts.  There may be a third cut at the end of this month, or they make take a pause, and revisit it in December.   *  A good sign that the housing market and the broader economy remain strong ... Foreclosure activity nationwide is now 49% below the prerecession average!  * Nationally, refinancing took a giant leap forward.  It was the first month that conventional loans were dominated by refinancing.  It accounted for 55% of the total, as purchases dropped to 35%.


Halloween in Lahaina - The Mardi Gras of the Pacific

Halloween in Lahaina is a classic Maui event, where locals and visitors gather together for one of the biggest parties of the year. The event attracts an estimated 20,000 revelers each year.  Lahaina's famous Front Street is closed off to vehicle traffic and the entire town transforms into an amazing festival full of costumes. Official "Halloween in Lahaina" T-shirts will arrive and be on sale at  the Lahaina Visitor Center at the old Lahaina Courthouse. Street closures will begin on Thursday, October 31st starting at 2pm from Baker Street to Prison Street and won't reopen until midnight.   All vehicles must be removed from Front Street prior to 2pm to avoid towing.

Festivities kick off at 4pm with the 40th Annual Keiki Parade.   More than 500 children and their families, joined by more than 120 members of the Lahainaluna High School marching band gather at the Outlets of Maui to kick off the festivities The parade begins at Front & Papalaua Streets and ends in Campbell park.

If you want to avoid the Halloween traffic to Lahaina while cruising in comfort  and enjoying a bounty of delicious food and drink, check out these to round trip sailing opportunities to Lahaina:

complete with a $500 Costume Grand Prize

Aboard the Alii Nui Maui


Or leave the driving to someone else: From Kihei or Wailuku 

MAUI HAPPENINGS    
The Spheres

Every Sunday: Maui Gift & Craft Fair Lahaina Gateway Center 9-2 
Every Monday: Maui Cruise n' Crafts Fair Maui Mall 10-3

10/26: 2019 Walk to End Alzheimer's  schedule
10/27: Xterra World Championship  details
10/31: Lahaina Halloween 
11/02: Arbor Day 1000 Tree Giveaway  details
11/09: Maui Veterans Day Luau info
11/15: Naomi Niskala,  Pianist  tickets
11/16: Chinese Heritage Festival  events
11/16: Maui Cycle Exploration Adventure sign ups
11/18-12/24:  Hui Holidays holidays
11/25-27:  Maui Invitational Basketball Championships  info
11/28: Happy Thanksgiving Day!
11/28:  Turkey Trot 10k Run   details


Maui Arts & Cultural Center  tickets
10/25: Okaidja Afroso West African music  Dance Floor
11/1-2:  6th Annual Made In Maui  Festival Biggest Shopping Event of the Year
11/03: Lei Nāhonoapi'ilani Songs of West Maui
11/08: Artist 2 Artist Henry Kapono and Alx Kawakami
11/14: Rosy Simas Danse - "Weave" Native American choreographer
11/17:  Hae Hawai'i: Film Screening and Discussion
11/21-23: Hawaii International Film Fest
11/24: "The Spheres" by Australia's Strange Fruit  Pretty Cool: check this out
11/25: SUP Film Fest - World Tour
11/29-30: Eric Gilliom - One Man Show


ProArts Playhouse Kihei    tickets
Now - 11/2: Evil Dead The Musical
11/08-17: Circus LoLo
11/14:  Laura Cole  comedy and cabaret
12/19-22: The Reluctant Elf


It's clear that the real estate market on Maui is very active.  We have buyers, but as mentioned above, inventory is really 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.  But if you're looking for a spook-tacular property 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.  I'm available to you 7 days a week.  Now aren't you glad I'm putting all those 
Halloween puns away till next year ...

John
Broker/Owner

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 RENTALS
Toll Free (888) 661-7200
Berkshire Hathaway   HomeServices  Maui Properties

Copyright 2017. All Rights Reserved.