Aloha to All!  

 

Labor Day--the day we acknowledge all hard working Americans--by taking the day off!  In many parts of the country, Labor Day also signifies the end of summer, change of season, and back to school.  Of course, here in Maui we don't see much change of season, but the island does quiet down as our summer crowds head back home.  If you're looking for a little quieter experience on Maui, now until Thanksgiving is the time to visit.

 

Market conditions are remaining fairly status quo here in Maui, albeit we continue to move more firmly into a Buyer's market.  I'm seeing inventory adjust downward slightly as Seller's who are not too motivated to sell right now take their properties off the market--willing to wait until the next surge upward, so the remaining listings appear to be priced more realistically.  Has the Mortgage Madness affected us?  Not so much, really, as many of our Buyers have cash or are moving equity from other properties here via the 1031 Exchange vehicle.  Again, if you're ready to add Maui Real Estate to your portfolio, this may be the time to strike a good deal!

 

This month's Featured Properties include the following:

 

MLS #318638--Wailea Palms (the residential side of The Palms) has long been a favorite of Maui residents.  Boasting one of the most dramatic pool pavilion areas of any of our condo complexes, this lushly landscaped property offers a contemporary look and feel while retaining the island flavor most owners are looking for.  This 2BR/3BA luxury unit has a large lanai and includes 1,559 sq. ft. of interior living space.  Seller will include a BMW convertible with purchase, as well as an allowance for upgrades.  Priced at $1,240,000, this one is more than $200,000 under comparable sales in the complex.

 

MLS #326443--If unobstructed ocean view as far as the eye can see is your thing, then don't miss this top floor, direct beachfront, 2BR/2BA condo with excellent rental history.  The Mana Kai sits at the gateway to Wailea and offers oceanfront dining, private pool area, large lawn and beach for ocean-goers, and a fully stocked, upscale deli right on the premises; you'll never need to leave your vacation shangri-la!  Check the photos on this one.  Price: $1,595,000!!! 

 

MLS #324896--One of Wailea's newest residential condominium projects, the initial buying frenzy for Kai Malu was so intense that a lottery system was used to select the lucky buyers.  Now the project is nearing completion and we're starting to see some re-sales come on the market.  This 3BR/2.5BA townhouse style condo includes 1,800 sq. ft. of living space, nice ocean views, comes fully furnished and includes a swimming pool!  This elegant property can be yours for $1,795,000!!!

 

MLS #319411--And last but not least, perhaps the best buy in Wailea (why hasn't this one sold?), a 3BR/3BA, beautifully furnished top floor Penthouse unit at the fabulous Wailea Beach Villas!  This highly sought after state-of the-art property was built on the last available oceanfront lot in Wailea, and just opened last year.  Located adjacent to the renowned Shops at Wailea, owners have access to fine dining, world-class shopping, great beaches, championship golf, and so much more.  Other similar units have sold for over $5,000,000; buy this one for $4,000,000!!!

 

Again, I hope your holiday was a good one.  Until next month,

 

Best regards,

 

Michael Blaz

(808) 283-9093