Maui

West Maui November Sales Stats: Puamana Awakens

What a month for Puamana! After starting the first 6 months of the year on record sales pace, this oceanfront Lahaina townhome community went very quiet with only 1 combined sale or escrow since early summer. That is, until last month where Puamana made up over 10% of all November escrows, a.k.a. “accepted contracts” for West Maui condominium/townhome properties. Only one other, Opukea at Lahaina, had more.

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End of Summer Sunset Over Lanai

West Maui Sales Stats

All in all, West Maui saw 37 combined condo, home, and land properties go under contract in November, while 35 total sold. There is an average inventory of about 550 properties for sale in West Maui at any given time in November (15 months of inventory).

West Maui November 2014 sales activity is as follows:

  • Condos/Townhomes: 29 escrows/23 sold
  • Residential: 7 escrows/10 sold
  • Land: 1 escrows/2 sold

 
For a complete CMA Summary of West Maui Pendings and Sales for November 2014, click here (source: Realtors Association of Maui).

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Hot Sands, or “Beaches” as it’s Known, Provides Surf & Sand Enjoyment…Warm Water, Year-Round Sunsets

Puamana Sales

Now getting back to the topic of this blog, Puamana’s November…Let’s take a look closer at what transpired. First off, Puamana had a total of 3 escrows and 1 sold property in November.

The Escrows (aka properties that went under contract)

2 of the 3 properties that went under contract did so in literally no time at all:

167-2 Pualei Dr, a 2 bed/2 bath came on the market at $539K, spent 5 days active before going under contract.

17-2 Pualoke Pl, a 3 bed/2.5 bath 1,768 sq. ft. unit listed at $899K, had breakfast and lunch on the market before going into escrow in less than 24 hours.

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West is Best! “W” for West Maui. Can You See it in the Mountain Formations?

The 3rd property, 30-2 Pualoke Pl., wasn’t so urgent. This 2 bed/3 bath, 1,101 sq. ft. unit spent 338 days active before finally saying “I do”…Reason possibly? This unit was the highest priced per sq. ft. to go pending or sold in November, but it could be also argued that this north end building 30 location with green space backyard, proximity to the water, and overall quietness is one of the best in all of the neighborhood (better than the other 2 subjectively speaking). However, what a phenomenon proper pricing can be 🙂

The Solds

There was only 1, but what a sale it was…at least in terms of speed – and possibly even a short-term gain?

167-1 Pualei Dr., a newly remodeled 2 bed/3 bath, 1,089 sq. ft., just sold for $655K. And if we look at the recent history of the property, we see possibly even a flip situation. This is all speculation, but I believe it clearly demonstrates that if you want it…the “buy low, fix then” sell paradigm we see plastered all over cable TV every night does exist, and in some cases, does work out favorably.

Puamana Gazebo LR

Oceanfront Gazebo and Pool

So the history goes, 167-1 was bought back in May of this year for $505K after spending 415 days on the market with the list price ranging from $540-$595K. Then, after only 5 short months, on 10/31/2014 this property was put back on the market for $795K, however quickly reducing to $720K. Within 14 days, 167-1 went into escrow and sold in another 15 days.

If you saw the before and after pictures of 167-1, you saw the major difference with major improvement. The upgrades that were completed were absolutely beautiful. Additionally, did I mention what a phenomenon proper pricing can be? 🙂

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Peaceful Private Puamana

My point is that miracles do happen…as in the last play of Thursday’s season ending UCF football game…and real estate opportunities do exist in West Maui, especially Puamana. And, if you didn’t see UCF’s last second play, it’s worth a watch.

– Aloha, JO

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Puamana aerial from ocean

Puamana Clubhouse

Puamana clubhouse entrance

Puamana gazebo

Puamana Gate (1)

Puamana  Tennis

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Puamana Fountain LR

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About the Author

Jeff Onderko

Jeff Onderko is a REALTOR Broker with Hawai'i Life. West Maui Real Estate Broker, and ultra enthusiastic advocate of Maui's Lahaina, Kaanapali and Kapalua areas. I truly believe it's an honor & privilege to call Hawaii home. For 15 years now, West Maui is where I live, work and play. My team and I specialize in resort market home and condominium sales striving to deliver the highest level of professional service possible. With over 25 transactions in the past 24 months, a panache for extensive statistical research and 35+ West Maui real estate articles published since 2015, I'm relevant, information driven and responsive. I bring a passionate energy, an entrepreneurial understanding and a client-first approach to my real estate business. Prior to becoming a Realtor, I was an independent publisher, starting and operating Maui, Kauai and Hawaii Real Estate Weeklies, Maui Time Weekly (partner), and in 2005, I was a Mayors Small Business Award finalist. In 2009, after seeing the demand and living in an under serviced pet market, alongside my Mom, Susan we opened West Maui Pet Supply. I started my career after college as an account executive with Orlando Weekly ultimately becoming their Advertising Director. Then I moved on to Advertising Sales Manager at Orange County Weekly, in Southern California. I am native of Detroit, Michigan, but grew up in Florida splitting time between Miami, Orlando and Cocoa Beach, Fl. I was a scholarship soccer player at the University of Central Florida and graduated with a BA from their School of Communication. Always attracted to healthy lifestyle, adventure, great weather, water sports and the outdoors, I moved to Maui in the summer of 2002. When the Realtor hat comes off, I'm active in the community coaching U-14 Boys Soccer (AYSO - West Side Pride) and I still play in the West Maui open division. I'm involved along with other fellow Hawaii Life comrades volunteering regularly at the Ka Hale A Ke Ola Shelter in West Maui and I'm on the Board of the Hawaii Life Charitable Fund. Through the outlet of the WM Pet Supply, I was heavily involved with the Maui Humane Society & ASCPA getting animals adopted & spayed/neutered. When I have free time you'll find me surfing, golfing, at the gym, a regular at yoga class, hanging at home with my animals or working in the backyard on my organic micro-farm (aka: food garden). You can email me at JeffOnderko@HawaiiLife.com or via phone at (808) 280-4881.

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Yes it is

December 9, 2014

That’s what you call a CMA? HAHAHA.

Yes it is

December 9, 2014

That’s what you call a CMA? HAHAHA.

Jeff Onderko

December 10, 2014

Lol! Whatya mean? Did you go to the link? The good news that anytime I change/add to the summary, it will automatically update on the blog/link. But, I’m glad you’re scrutinizing!

Jeff Onderko

December 10, 2014

Lol! Whatya mean? Did you go to the link? The good news that anytime I change/add to the summary, it will automatically update on the blog/link. But, I’m glad you’re scrutinizing!

Carla Marrero

January 9, 2015

Wow, Mr. Onderko… Great information! What do you think will be the next area or, is now – for best places to buy in Maui?

Jeff Onderko

January 12, 2015

Hi Carla: Thank you for reading and responding! I very much appreciate it. While the question of what’s the next area/best area to buy is quite daunting 🙂 Many many factors to consider, but I’d say first, it really depends on where on the island you want to be.

I subscribe to the mantra “West is Best”…So with that said, I have information on brand new developments coming up in the next 12-24 months from Lahaina to Kapalua. Here are just a few:

Wailele Ridge: http://www.waileleridge.com/

Kahoma Village: Stanford Carr will be the developer
http://oeqc.doh.hawaii.gov/Shared%20Documents/EA_and_EIS_Online_Library/Maui/2010s/2013-09-08-MA-5B-FEA-Kahoma-Village-Project-Volume-I-of-II.pdf

Please email me at jeffonderko@hawaiilife.com with your contact information and I’ll be happy to send along more detailed project & market info. Aloha – Jeff

Carla Marrero

January 9, 2015

Wow, Mr. Onderko… Great information! What do you think will be the next area or, is now – for best places to buy in Maui?

Jeff Onderko

January 12, 2015

Hi Carla: Thank you for reading and responding! I very much appreciate it. While the question of what’s the next area/best area to buy is quite daunting 🙂 Many many factors to consider, but I’d say first, it really depends on where on the island you want to be.

I subscribe to the mantra “West is Best”…So with that said, I have information on brand new developments coming up in the next 12-24 months from Lahaina to Kapalua. Here are just a few:

Wailele Ridge: http://www.waileleridge.com/

Kahoma Village: Stanford Carr will be the developer
http://oeqc.doh.hawaii.gov/Shared%20Documents/EA_and_EIS_Online_Library/Maui/2010s/2013-09-08-MA-5B-FEA-Kahoma-Village-Project-Volume-I-of-II.pdf

Please email me at jeffonderko@hawaiilife.com with your contact information and I’ll be happy to send along more detailed project & market info. Aloha – Jeff

Doight

February 9, 2015

I would argue that 17-2 which sold for $850,000 was the deal of the year at Puamana. The Lanai will be 33 feet by16 feet, it is a 3 bedroom with a huge loft and is one of a few in Puamana with an attached carport. Total of 1756 sq ft with views of the ocean. 30-2 is a tiny one bedroom with a little loft and much smaller Lanai that faces North.

Buyer of 17-2

Jeff Onderko R(S)

February 20, 2015

Hi Doight: Hope this finds you well. Thank you very much for reading and responding to my post. My apologies for the late, I have been spending all of my time in the field as of late.

A couple things in regards to your reply:
1) First off…no one is arguing here : )
2) nor did my article mention “deal of the year” 🙂
3) Also…now, while I love the unit…This post was written specifically for November…Your purchase didn’t close until January 23. So that is the reason why there was no mention of it. 🙂

But for the sake of it….I like that 17-2 purchase, I really do!…0 days on the market from listing day to pending escrow? You must have done your homework! Great building location at the north end of the neighborhood. This was the 5th lowest 3 bed/2.5 bath similar approx sq ft sale since 2002. I love the attached car port units…the only similar would be the 40 building that I believe have some full garages.

For more on current buys/sales and specifically the mentioned 17-2, please look out for my upcoming Puamana blog that has been written for 45 days but unfortunately not published yet. I haven’t fount the perfect words close it out yet I may turn it into a 3-month detailed look versus a monthly. Not sure yet, but I will share with you and HL.com ASAP. –

ALOHA – Jeff

Jeff Onderko R(S)

February 20, 2015

One more thing: for a better picture of how your 3 bedroom sales compares historically over the past 20 years…see link

http://www.hawaiilife.com/articles/2014/07/puamana-lahaina-sales/

The blog reads 2014, but it has sales graphs going back to 2004.

Doight

February 9, 2015

I would argue that 17-2 which sold for $850,000 was the deal of the year at Puamana. The Lanai will be 33 feet by16 feet, it is a 3 bedroom with a huge loft and is one of a few in Puamana with an attached carport. Total of 1756 sq ft with views of the ocean. 30-2 is a tiny one bedroom with a little loft and much smaller Lanai that faces North.

Buyer of 17-2

Jeff Onderko R(S)

February 20, 2015

Hi Doight: Hope this finds you well. Thank you very much for reading and responding to my post. My apologies for the late, I have been spending all of my time in the field as of late.

A couple things in regards to your reply:
1) First off…no one is arguing here : )
2) nor did my article mention “deal of the year” 🙂
3) Also…now, while I love the unit…This post was written specifically for November…Your purchase didn’t close until January 23. So that is the reason why there was no mention of it. 🙂

But for the sake of it….I like that 17-2 purchase, I really do!…0 days on the market from listing day to pending escrow? You must have done your homework! Great building location at the north end of the neighborhood. This was the 5th lowest 3 bed/2.5 bath similar approx sq ft sale since 2002. I love the attached car port units…the only similar would be the 40 building that I believe have some full garages.

For more on current buys/sales and specifically the mentioned 17-2, please look out for my upcoming Puamana blog that has been written for 45 days but unfortunately not published yet. I haven’t fount the perfect words close it out yet I may turn it into a 3-month detailed look versus a monthly. Not sure yet, but I will share with you and HL.com ASAP. –

ALOHA – Jeff

Jeff Onderko R(S)

February 20, 2015

One more thing: for a better picture of how your 3 bedroom sales compares historically over the past 20 years…see link

http://www.hawaiilife.com/articles/2014/07/puamana-lahaina-sales/

The blog reads 2014, but it has sales graphs going back to 2004.

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