Betty Sakamoto: Aloha, and welcome to Betty’s Real Estate Corner, brought to you by Coldwell Banker Sakamoto Properties. Today in the studio, Roy is here. Roy Sakamoto, Betty Sakamoto speaking.
Roy Sakamoto: That’s a great lead-in song.
BS: Isn’t it the best? Danny Couch. We better start talking about that again before Danny calls us and says, “I think you better stop using my song.” But he knew it once, probably 15 years ago. Forgot about it. What are they doing, still using that? But it is the best song. I love Hawaii.
RS: Tons of reasons to love Hawaii.
BS: There are. That has to be one of the best Hawaiian songs of all time.
RS: Yeah. And Maui.
BS: Maybe we better change it to “I Love Maui.”
RS: Talk to Danny.
BS: Talk to Danny. Okay, good idea. Well, I don’t know. We’ve been doing a lot of different things since the last show, but the big tournament at Kapalua…
RS: Well, the holidays were… It came way too soon. I don’t know. It came and went in a hurry.
BS: It sure does.
RS: It all blended together too. Well, we had our daughter and her family over for Christmas. They love Christmas Day, and then the New Year, and we went right into the Century Tournament of Champions.
BS: Which was pretty fabulous. We had a booth for our company – it was really a Coldwell Banker Sakamoto booth. There were five of us involved in it, but we all had people coming and going. We had it down to a science, how many people we could have in the booth at any given time
RS: Yeah, right on the 18th green.
BS: It was spectacular.
RS: It was fantastic. We had great food, great drinks, and I couldn’t have found a better location.
BS: We got to see every shot on the 18th hole and we walked around at different times to different holes. But mostly we stayed put because all of our clients were going to be there. And everybody just had the greatest time—really, to get up close and personal like that with the pros. It’s always a great moment.
RS: It really is. And the weather was just awesome.
BS: The weather couldn’t have been better. I don’t think there was any rain at all. Nothing.
RS: A little fog, but it was really good. Really good weather.
BS: I think it was perfect. Perfect weather.
RS: And a champion who broke the course record.
BS: That was unbelievable.
RS: I don’t see how he shot 34 under. Wow.
BS: No, it was. But I mean, I guess perfect weather, perfect conditions, perfect everything. And there were people close to him. I mean, what was the next score? Not that I would know, but…
RS: Two shots back.
BS: Two shots back. So, I mean, it’s not like he won by ten strokes or something, but he did play really hard.
RS: And Hideki Matsuyama from Japan.
BS: Yeah. The second person was also from Japan but…
RS: No.
BS: No?
RS: No.
BS: Who was it?
RS: It was actually… he had local roots – Collin Morikawa.
BS: Well, that name happens to be Japanese… Excuse me.
RS: But…
BS: I’ve got to cut. I mean, let’s talk about it.
RS: Because his grandparents used to have a Morikawa Restaurant on Front Street, Lahaina. Best Saimin. It was really, really good Saimin.
BS: And you remember that?
RS: I remember. Absolutely.
BS: So, was he born here?
RS: No.
BS: Where was he born?
RS: He was born in California, I believe, where he lives now. Heck of a player. He’s won two majors, the PGA Championship and the British Open.
BS: So, those are some really great tournaments to win.
RS: Yeah. Yeah. If you’re only going to win two tournaments in your career, those are great. He’s going to win more.
BS: He’ll win more.
RS: Yeah.
BS: And he’s so nice. I mean, very, very nice.
RS: He’s done a lot for Lahaina relief and understanding. He’s helped to distribute food and donated a lot of money to the Lahaina relief effort. So, thank you, Collin.
BS: I think, in general, the tournament donated a lot of money to Lahaina.
RS: A variety of charities.
BS: And a variety of other charities. But I mean, I think it’s amazing how the tournament brings so much to Maui, to Lahaina, to the whole island.
RS: Absolutely. The exposure is great. Again, the charities involved, Hale Makua, there’s Lahainaluna Foundation, Junior Golf, and a variety of other charities benefited from this great tournament.
BS: Lahainaluna High School has benefited greatly from the tournament.
RS: I’ll tell you, Sentry has kind of adopted Maui as a second… I wouldn’t call it a second village, but there’s a brotherhood between where Sentry is located in Wisconsin and Maui. And they’ve done a lot.
BS: Well, it sure seems that way. It was a fabulous tournament. Everything about it was really great.
RS: It was.
BS: So…
RS: So we’re just getting over the hangover from New Year’s and the tournament.
BS: From New Year’s and the tournament. The holidays were pretty great this year, I think. It was a little hard for us because my daughter, who’s a Lahainaluna graduate, Julie Flynn Sherlock, came with her family. They got here on the 17th. The plan was, and they did, go home on Christmas Day because the fare was so much less, and it was their plan.
And then they had a tree set up at home. So when they got back, they had another Christmas. So I think it was perfect for them and worked well for us because we were going right into the golf tournament. So everything ran smoothly. And then we seemed to be right back to real estate.
RS: Yes.
BS: It’s been interesting.
RS: Julie’s youngest son plays for the University of Washington soccer team.
BS: Yep.
RS: I couldn’t believe what this kid eats.
BS: Oh, unbelievable. He’s really skinny. He’s not a big kid, but he’s tall.
RS: He’s 6’1”, something like that. But on the slender side. He starts off with a loco moco and a hamburger.
BS: Yeah, he would go down to the Honolua store before breakfast. And we weren’t funding it, so he’d go down there and come back with all this food. Some of it would be gone by the time he got back. Were they walking down at that point?
RS: Running down.
RS: Running down? Yes, I guess they weren’t walking. But it was really fun to watch this eating routine.
BS: Yeah.
RS: Then after the workout, they’d come back around 10:00 and have a pre-lunch meal.
BS: Yes.
RS: It could be almost anything.
BS: And then the next question was, where was everybody going for lunch?
RS: No, I’m glad we’re not feeding them. I mean, it was scary to watch them, watch him eat.
BS: It was pretty great.
RS: But the University of Washington soccer team, the Husky soccer team, is one of the best in the nation. So he’s had exposure with the Big Ten, being part of the Big Ten conference now. They’ve traveled from Seattle to as far away as New Jersey to play Rutgers. They’ve played Ohio State, Indiana, and Illinois. So it’s been a great experience for them.
BS: Yeah. So, what about real estate today?
RS: What about real estate?
BS: Without getting too specific about listings, it does seem like the market is going to get more interesting as we go along right now.
RS: It really is. It’s almost like turning a new leaf as we enter 2025. There’s a lot happening in the real estate market. There are more listings on the market. It’s turning into a little bit of a buyer’s market. There are some good buys out there, but interest rates are kind of holding steady. They’re not dropping as fast as we’d like, but sales are still being made.
Call us. We can give you some mortgage sources. You can call me, Roy, at 808-870-7060 or Betty at…
BS: 808-870-7062.
RS: Or hit our website, SakamotoProperties.com. Come to SakamotoProperties.com, and you’ll have access to every listing in Maui County, which includes Lanai and Molokai as well.
BS: Walk into our office, you know, which is right on Office Road at Kapalua. It’s pretty easy to find. It used to be the Kapalua Realty space; now it’s the Coldwell Banker office. We have an agent there all day, every day, from about 8:00 in the morning until 7:00 or 8:00 at night. It’s a great opportunity to talk to someone and ask questions about what’s going on, and what you’re thinking, and wherever you are in the market, there’s somebody around who can help you and spend some time with you.
Maybe it’ll take a couple of years before you actually find what you want. But I think, right now, the lower end of the market is going to be interesting. I think there could be some great deals happening in the not-too-distant future. The upper end of the market still seems fairly strong, but I’m not sure. I’d have to say I’m not sure where it’s all going.
You may have a different feeling than I do, Roy, but I’ve had a feeling for a while that we could see some changes happening.
RS: Well, the upper end of the market has been extremely strong. The upper end being, say, $3 million plus. Most of these buyers are second-home buyers, primarily from the mainland. Not so many foreign buyers right now, but mostly from the West Coast. That segment has been very strong in West Maui and South Maui, particularly the Kihei, Wailea, Kapalua, and Kaanapali areas.
BS: Absolutely. I agree with you. It has been extremely strong. I think, again, in the lower end of the market, if someone is looking for a home, there are possibilities. If you start to watch the market with your broker, whoever that is, talk to them about what you’re qualified for, and then start working with them in the areas where you can live.
You know, like nobody… I mean, surely we wouldn’t try to live in Wailuku or Kahului or Wailea. We’re out on the West Side, and we’re not going to start driving for hours, and nobody is.
But I think if you talk to an agent—we have agents all around the island at Coldwell Banker—you’ll find someone who will spend time with you, and eventually, you’ll find a property that works for you. So it’s worth looking into, it’s worth paying attention to the market at this point.
RS: Absolutely. The market has changed in terms of representation. If you’re hesitant about working with a realtor, I’ll tell you why you should. You’ll be working with a true professional. There are license standards, and a realtor has to follow a code of ethics. You should work with a realtor, not just anyone with a real estate license.
BS: Absolutely. That’s the truth. You have to find someone you trust. A licensed realtor is someone who has worked really hard. But I think forming a relationship with them is important. It’s not like you’re going to walk into an office and buy something today—maybe you will. You might walk in, and they just got a listing on something.
Take a look at them, and see if it’s something that works for you. But I mean, as they start realizing and watching the market, the minute they hear something, they can call you, text you, email you. We’re all pretty reachable these days, so I think it’s really worth it.
And living in Maui is never going to be simple, and I don’t think it’ll ever be inexpensive. But again, start watching and see what happens. Talk to your realtor. Find a realtor. Come into our office at 129 Office Road.
RS: 700 Office Road.
BS: Oh, I was close.
RS: Yeah.
BS: How did I come up with 129? I’m not sure. Oh, well, I like that address—129. Or go to 700. They’re kind of close.
RS: Real close.
BS: But again, talk to someone. It’s time.
RS: Absolutely. Even if you’re just looking for a rental, whether a vacation rental or a long-term rental, contact us. Again, go to SakamotoProperties.com, and that will give you access to rentals—both long-term and short-term.
We never know who’s listening to our radio show, but I get a lot of comments from realtors around Maui who’ve listened to our show, and also from people far and wide.
BS: Absolutely.
RS: Around the world. Since we’ve got clients all over the world, and they’ve said, “Hey, you know, we can get online, go to SakamotoProperties.com, and we can look at some of your past shows,” and so forth. So it’s a fountain of information.
BS: It really is. If you look at it, I mean, it’s on your website, so you can easily access the radio show. It’s fun because even when we look at it after a while, we kind of laugh at ourselves. It is what it is, and it’s been great. People love watching that and hearing it today.
Obviously, we’re just kind of at the end of the holiday season. Not really sure. We talked on the way over about what we thought would be important, and partially, it was just that the market is interesting and changing a little bit. Again, the upper end still seems strong, but the lower end, I’m not so sure.
RS: Again, that’s why you should be working with a realtor who can monitor the market on a daily basis and contact you to say, “Hey, now’s a great time to buy or sell, depending on your interests.”
BS: Once you align yourself with someone, you’ll be on their list every day. So they’ll get up and, as they look at new things coming on the market, you’ll be one of the people they think about. They’ll know your family, they’ll know what’s going on, and you’ll stay on the list. And at Coldwell, we have so many agents and offices everywhere, so new things are always coming up. It’s worth talking to us.
RS: That’s right. Our main office is in Kihei, but we also have satellite offices in Wailea shops, Kapalua, Upcountry, and Kahului.
BS: We still have that small Kaanapali office, don’t we?
RS: No, not right now.
BS: Oh, I thought it was still open. Okay.
RS: But, you know, come see us.
BS: Come see us. Well, give us a call first—Roy at 808-870-7060. Roy Sakamoto at SakamotoProperties.com.
RS: Let’s talk about a couple of listings.
BS: Let’s do that. We run out of time quickly doing this. So let’s take a look at some of them.
RS: You have one that Elizabeth Quayle has listed.
BS: Let me find that. Oh, this is a great listing. I saw it with her the other day. 5184 Lower Honoapiilani Road is a three-bedroom, one-and-a-half-bath home listed at $1,750,000. It has a great view and is in excellent condition. It’s an older home that was upgraded in 2020.
It was originally built in 1956, and it’s been well-maintained since the upgrade. You’d still want an inspection, but it’s in really good shape. It’s like a little cottage. She refers to it as the “streaming Napili cottage.” It sits above three lower homes on the property.
It has huge views from the lanai and living room. It’s an amazing place. I spent some time with Elizabeth there the other day as she was getting it in order. Everything is spotless. They’ve got a great gardener taking care of it. Elizabeth is really someone to talk to about this.
Her personal phone number is 808-276-6061. She’s been amazing throughout the whole market. She’s sold the very top end of the market, and she’s always willing to spend her time showing you properties and helping you find the best one for yourself. Again, her phone number is 808-276-6061 – Elizabeth Quayle.
RS: Here’s one in Kaanapali Hillside. It’s listed at $3,850,000, perfect for a large family. It’s five bedrooms, five baths, and about 4,500 square feet. It was built in 1996 and renovated in 2008. It’s in great condition. This one’s listed by Mary Anne Fitch and Mihaela Stoops from her office. Definitely worth a look.
Five bedrooms, five baths—this is a big house. If you’ve got an extended or large family, this is one to really check out. It has great views from the Kaanapali Hillside.
BS: Here’s another one we have—just a pile of listings we brought along with us. This one is listed by Mihaela Stoops. Her phone number is 808-357-4000. It was originally listed at $360,000 when it first came on the market, but now it’s listed at $329,000. It’s at Maui Lani Terraces, unit E308, a smaller third-floor studio with one bath.
It’s really worth taking a look at. If you’re looking to get into the market and want to own your own property, the maintenance fees are under $700 a month, and taxes are fairly low. I think it’s worth calling Elizabeth about this one and taking a look because there are so many opportunities like this. Paying huge rents isn’t ideal—it’s definitely worth looking into something like this.
RS: It’s affordable, for sure, and it’s a great starter home. Definitely worth considering in the near future.
BS: Absolutely. I think you’re right, Roy. Kahana Manor, Ray Chen has listed a one-bedroom, one-bath unit for $555,000. I think it has primarily a mountain view. It’s a reasonable-sized unit, and it’s worth taking a look at. It’s not going to be inexpensive, but rents have been rising, so buying might be a better option.
Over the years, I’ve watched someone who bought a home when the market wasn’t really moving fast, and they ended up with a higher interest rate at the time. But then, within a year and a half, the market changed, and they were able to refinance at a much lower rate. It ended up being the best decision they ever made—it really changed their life.
RS: People are saying mortgage rates are high, and that’s true, but my recommendation is to look into adjustable rates. You can find adjustable rates in the fives right now, and it’s not a bad option. You’ll have a set rate for a minimum of five years, and you can refinance at any time. Interest rates will likely go down, so refinancing within the next few years could be a great move. It’s a favorable way to get into the market today.
BS: Absolutely. Interest rates go up, interest rates go down, prices go up, prices go down—things change. Ray Chen has another listing at The Breakers, unit D35, a one-bedroom, one-bath. Again, I think it’s a great opportunity at The Breakers.
RS: It’s a great owner-occupied building.
BS: It is, and I think it’s one you could live in and enjoy for a long time.
RS: Yeah, very affordable. Great location, right in Honokowai. It’s really a wonderful spot. Before we close, there’s one thing I’d like to say: Our hearts go out to all the L.A. fire victims, particularly in the Pacific Palisades and Altadena areas in Los Angeles. We, of course, went through the horrific Lahaina fire, and our hearts go out to all those displaced by the fires in Los Angeles.
We have clients who have families displaced by the fires. Fortunately, none of them have lost their lives, but it’s been a horrible time for them in Los Angeles.
BS: It’s terrible. It makes you realize how much the people in Lahaina suffered. It was a smaller number of homes, but the hurt is still ongoing. Homes aren’t being rebuilt quickly enough. There needs to be a way to pull everything together more efficiently. We also have Danny Couch back with “I Love Hawaii.”
RS: We love Hawaii.
BS: We love Hawaii, and love Danny Couch. Aloha!
RS: Aloha!
BS: Thanks for listening.
