UPDATED | July 24, 2020:
When it comes to the coronavirus, Hawaii currently has one of the lowest mortality rates in the nation and continues to make substantial efforts to flatten the curve, with the lowest number of total cases among all 50 states (as of July 24, 2020).
Maui agent Jessica Baker recently shared why It’s a Great Time to Buy Oceanfront Land on Maui. She posits that now is the moment to devote the required time to planning and building your ideal coastal dream home.
“Most of us are safely ensconced in our homes right now baking bread, catching up on Netflix, decluttering the garage, and indulging in a new hobby we always wanted to try,” says Jessica. “Even those of us who are still working have more free time than normal due to the slowdown of social commitments.”
Jessica points to the design limitations put forth by HOAs (Homeowners’ Associations), the finite quantity of Maui oceanfront land for sale, and the investment benefits of purchasing vacant land over an existing home. She also suggests some lower-cost architectural and design options and presents a number of very appealing oceanfront land opportunities currently for sale on Maui.
Mortgage Rates & Tips From a Pro
You may have heard that interest rates are favorable right now. Maui real estate professional Josh Jerman spoke to mortgage consultant Chris Adriano to get some professional lending advice and tips for those considering taking out a mortgage in the era of Covid-19. Born and raised on Maui, Chris is an Army veteran at Element Mortgage on Maui.
“It is a very strange time for interest rates right now as they have not been responding to the market the way they usually do. I have been seeing interest rates anywhere from the high 2% range to the mid 4% range depending on the scenario,” said Chris.
To find out what you should know and how you can prepare to borrow, check out Josh’s blog.
Maui’s Jeff Onderko recently examined the volume of real estate contracts in play this year, comparing the period leading up to the start of the health crisis to the period from mid-March to July. In “The Onderko Index” Jeff hopes to share some information that’s not generally available to the public, noting that a healthy, robust pool of transactions keeps the market moving and can serve as an indicator of market health. You can read Jeff’s Maui Market Update 2020 here.
A passionate aficionado of great design, our own Liam Ball showcases a beautiful Makawao home and explores the Japanese word Komorebi, a term used to describe “the very specific dance of sunlight and shadows through gently swaying leaves,” according to Liam.
This charming designer home and cottage in Upcountry Maui are now for sale. Learn more about their design aesthetic from Liam, creator of Modern on Maui, and a long-time agent with Hawaii Life. Liam provides 3-D Matterport tours of both the home and the cottage here.
Maui Tax Rates from July 1, 2020
According to the Tax Foundation, Hawaii enjoys some of the lowest property tax rates in the nation. Maui agent Dave Futch reports on the recently released Maui property tax rates for the 12-month period beginning July 1, 2020, and details how properties are classified in Maui County.
You can read Dave’s article here and learn more about Dave’s three decades of life on Maui in our recent Spotlight on Dave Futch. Dave specializes in Upcountry and North Shore residential real estate sales.