There are currently several special Maui real estate deals available in our mind. The first is a small oceanfront home in Maalaea asking $1.6 million. Astonishing views from this modest home. Unit 115 in the Royal Mauian, a two-bedroom in good, if dated, condition is asking $1.099 million. There are two units in Grand Champions that are under $500,000.

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Well, after years of waiting, the 40 acre regional park just north of Hope Chapel will commence construction in January:

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The Dowling Groups' Maluaka in Makena, which is being built according to standards devised by the US Green Building Council's Leadership in Energy and Environmental Design (LEED), may have begun a trend in Maui real estate. Now Starwood has announced that their third timeshare resort at Ka'anapali will be going green.

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The news coming from the mainland housing market remains bleak, but there are a few causes for optimism. New home sales nationally fell in May to an annual rate of 512,000 units, down 2.5% from April. Exisitng home sales increeased 2% to just under a 5 million annual pace while median price fell 6 from a year ago. None of this is particularly good news. But there are a few bright spots. In California, declining prices led to an 18% increase in sales in May. How does this impact Maui real estate? As we have said before, this kind of data influences the willingness of mainlanders to buy real estate anywhere. Locally, the last nine homes in Moana Estates have been placed under contract in a bulk sale. For more details, contact us! 

The Department of Business, Economic Development and Tourism has released Maui's May Tourism results. Here are the highlights:

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Merrill Lynch has released their wealth report for 2008. Here are some key findings related to real estate.

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Harvard's Joint Center for Housing Studies has released its 2008 State of the Nation's Housing. Here is a summary of the key findings and the likely impact on Maui real estate.

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We are pleased to announce that Wailea Fairway Villas X-103 is now in escrow. That three bedroom condominium is listed for $1.325 million.

Even with the Maui Film Festival going on, the island remains very quiet. The impact of the two airline bankruptcies and higher ticket prices is clearly creating a decline in tourism. The question for owners and pursuers of Maui real estate is how long will this go on? Our sense is that the condition is temporary. Already airlines are beginning to fill in the gaps in out travel schedule and  our friends at the major hotels tell us that the reservations for next season are already very heavy. So what does this mean? In the near term it means that areas like Kihei may come under some additional price pressure but that over time Maui will remain a destination of choice. For more details, contact us!

Today the NAR released the national pending sales results for May. Below are some key snippets and the likely impact on Maui real estate.

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