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Maui

Newsflash – Maui Real Estate is Affordable

As reported by Inman News today:

“Home affordability rose to its highest level in at least 20 years in the fourth quarter of 2010, according to an index released by the National Association of Home Builders and Wells Fargo today.” Read the full article here.

Obviously, this is great news on a national level and there is no question that this trend has reached the beautiful shores of Maui. I am overjoyed with having the privilege of assisting a myriad of people with who I grew up and/or have shared the island of Maui accomplishing the dream of home ownership. I am also assisting many national and international clients who have identified that now is the time to be getting into the Maui real estate market. At the peak of our market in late ’06, this was just a far fetched dream for many of these very same individuals, these dreams are now ringing true with one happy face at a time.

Here is what one of our clients from California had to say about the process:

“It pleases me greatly that I picked the Stice Team, Jeremy and Tracy, to assist me with my purchase of a Maui Meadows property on Kekaa Drive. Not only did they respond quickly and sincerely to my initial internet inquiries, they gave me what I needed for many months over the internet and in person when it came time to secure my Maui home. Their communication skills are excellent – teamwork is obviously the mantra of this great team. I am very pleased with the exceptional value of my new home and I would highly recommend the services of the Stice Team to any prospective buyer.”

—Dr. Walter Zachs

On a local note, we are continuing to experience fantastic deals in almost all segments of the Maui market. Like the rest of the county, Maui has become heavily influenced by the distressed property marketplace (short sales, foreclosures, bankruptcy sales, and bank owned homes). Prices in some segments of the market are down 60% from their peak values in late 2006. It is truly a buyer’s market and we are seeing many savvy investors and motivated homeowners take advantage of the reduced prices, great inventory, and historically low interest rates.

According to our most recent MLS statistics on the Maui real estate market as a whole:

  1. Residential Single Family Homes: Transactional volume was up 17% from 2010 to 2009, total sold dollar volume was up 23%, and median prices dropped 8%.
  2. Fee Simple Condominiums: Transactional volume was up 39% from 2010 to 2009, total sold dollar volume was up 25%, and median prices dropped 16%.
  3. Vacant Land: Transactional volume was up 14% from 2010 to 2009, total sold dollar volume dropped 47%, and median prices dropped 19%.

On this note, here is a gallery that I put together of the best Maui deals in February of 2011. Each property is either a great deal, or is just an amazing overall piece of Maui. Please contact me to ask why I selected any of these homes.

It would be a pleasure to serve you, your family, and co-workers here on Maui.

Aloha.

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WaitingForTheHawaiiBubbleToBurst

February 20, 2011

Dude, that’s the average cost all across the US market. You should have noted that Honolulu is at the bottom of the affordability list. Maui should be close behind.

WaitingForTheHawaiiBubbleToBurst

February 20, 2011

Dude, that’s the average cost all across the US market. You should have noted that Honolulu is at the bottom of the affordability list. Maui should be close behind.

Jeremy Stice, R(S)

February 20, 2011

@WatingForTheHawaiiBubbleToBurst- Thank you for your comment

You are absolutely correct that the article was a national index of affordability. I think if you read the entire post and realize that what I was attempting to do was to explain how this relates to the real estate market in Hawaii and more specifically, Maui.

You are playing devil’s advocate and I appreciate your contribution. The fact of the matter is that Maui and Honolulu will always likely be at the bottom of this list. With this being said, I can’t tell you how many people in Chicago, Madison, British Columbia, Seattle contact me on a regular basis because Maui is on their mind. There is a reason why Maui is as costly as it is. Being born and raised here and having traveled to other places, I feel very lucky grateful to call Maui home. Yes milk is $5 per gallon even at Costco and gas prices can be scary but I can walk 2 minutes from my home to Napili Bay which is absolutely gorgeous and never ceases to refresh my mind and body. I love living on Maui and I am sharing my passion with others.

If you prefer to invest in a similar climate say in Cabo or Cancun and deal with the Mexican government and all the unrest that is taking place there, that is certainly your decision.

I stand by my affirmation that now is an fantastic opportunity to be getting into the Maui market.

Jeremy Stice, R(S)

February 20, 2011

@WatingForTheHawaiiBubbleToBurst- Thank you for your comment

You are absolutely correct that the article was a national index of affordability. I think if you read the entire post and realize that what I was attempting to do was to explain how this relates to the real estate market in Hawaii and more specifically, Maui.

You are playing devil’s advocate and I appreciate your contribution. The fact of the matter is that Maui and Honolulu will always likely be at the bottom of this list. With this being said, I can’t tell you how many people in Chicago, Madison, British Columbia, Seattle contact me on a regular basis because Maui is on their mind. There is a reason why Maui is as costly as it is. Being born and raised here and having traveled to other places, I feel very lucky grateful to call Maui home. Yes milk is $5 per gallon even at Costco and gas prices can be scary but I can walk 2 minutes from my home to Napili Bay which is absolutely gorgeous and never ceases to refresh my mind and body. I love living on Maui and I am sharing my passion with others.

If you prefer to invest in a similar climate say in Cabo or Cancun and deal with the Mexican government and all the unrest that is taking place there, that is certainly your decision.

I stand by my affirmation that now is an fantastic opportunity to be getting into the Maui market.

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