Newsletter IX

April 23, 1999

My Real Estate Newsletter is generally composed after the winter season, when I can analyze the sales activity.  This year however, I thought it would be a good idea to inform potential buyer's who have been putting off buying homes, that they should reconsider and not wait any longer!

The Market

YES!  It is still a BUYER'S MARKET on Maui, but this market won't last much longer.  Those individuals who live in California where the market is HOT, are familiar with what happens when there are more buyer's than seller's...

PRICES ON PROPERTY WILL GO UP!

Mako and I had a very good winter in 1998 and we are continuing to sell houses even though the winter season is over.  As I have said many times before, "Hawaii's market follows California's market turn around, but usually a year later."

A number of home owners that have pulled their homes off the market, fully intend to list their properties again once the prices start to move up.  Of course they will more than likely list for at least $100,000 more than their previous listing.

MAUI - West Side vs. South Side

As an example of what is happening to prices on Maui, I spent two days showing clients 6 homes on the West Side (Kaanapali/Kapalua), then we moved on down to Wailea Resort to look at homes in the million to 2 million dollar range.  I could not believe the prices for homes down there!  Although I know the market very well, I could not believe the prices for homes in the South Side of Maui, which in my opinion are starting to go off the charts, yet million dollar plus homes are selling fast. 

After showing them a total of 19 homes, my client is purchasing a lovely home backing up to a golf course with panoramic views for $1,650,000.

After spending time viewing homes in the Wailea Resort area I realized that homes on the West Side are really a bargain compared to the South Side of Maui.  My listing for a 5 bedroom, 5 bath home with panoramic ocean views which is listed for $1,250,000 would be listed for $2,200,000 in the Wailea Resort area.  Homes on Kaanapali Hillside in the $600,000 range would be listed for $800,000 on the South Side.

I fell in love with the West Side of Maui 35 years ago and moved to this area 31 years ago.  I really believe it is the best part of Maui.  It has so much more going for it.  Lahaina Town is our anchor with all it's art galleries, restaurants, shopping and harbor.  The West Side has gorgeous ocean views between the islands of Lanai and Molokai, not to mention our numerous white sand beaches, 6 golf courses and a plethora of tennis facilities public and private.

If you want to know what's happening now in West Maui, you can E-mail me at landnmaui@aol.com or call me at 808 669-5377.  I will be happy to answer any of your questions about Real Estate or Activities on Maui.

See you on Maui,

Cliff McQueen/RA  

Copyright© 1999 Cliff McQueen