Betty Sakamoto: Aloha and welcome to Betty’s Real Estate Corner brought to you by Coldwell Banker and Roy and Betty Sakamoto. Here we are again looking to give you some information on real estate, what is going on in our little world of Maui, and all of the other things that we can think of for today.
Roy Sakamoto: That lead-in for our show Danny Couch.
BS: Yes
RS: We should talk about the show we went to last night, George Kahumoku. That was great.
BS: We were at a fabulous show last night George and who is the I don’t know everybody’s name and I think you could.
RS: Yeah. Sunny Limb from the big island was there as the guest artist. Sunny for those of you who know Hawaiian music is a fantastic slack key guitar player, singer, many albums. What a great show. It is at the Napili Kai resort in the pavilion there every Wednesday night starting at 6:30. It is a great chance for locals and for visitors to get a little piece of old Hawaii.
BS: It was a pretty full house, small group.
RS: It is pretty full for covid restrictions.
BS: The singers are spectacular. Everything they do they made it so like you say old Hawaii. There was a hula dancer through a number of the songs. She was beautiful and wonderful you just had to love every movement she made. She was really fabulous.
RS: Yeah and we’ve got family in town right now and they thoroughly enjoyed that.
BS: It is a young family. Everybody is basically college-age except for my daughter and her husband. Our daughter Julie and her husband. Julie is a Lahainaluna graduate. She was called Ehu Lani Flynn now Sherlock but she loves everything Hawaiian and has her family doing the same thing. They have been on the beach all day every day and or hiking or running or doing so she can show each of her children who are grown up now college age. A little bit of how she grew up and why it meant so much to her. The old Hawaii part, the songs we heard so much in the early days and you just don’t hear some of them anymore.
RS: No, you don’t. It is great and what a treat. About an hour and a half, hour and 45 minutes show at Napili Kai resort right on the ocean in Napili. What a great opportunity. George Kahumoku is a true renaissance man.
BS: He is spectacular and he engages everybody that’s there the visitors who are there, the people that he knows. He had a special song for us yesterday.
RS: Yeah
BS: It was really touching and that we really loved having it. It kind of made you feel a little bit young again when somebody does that and they kind of singled us out as with a love song. I was really touched by it so we really felt great.
RS: Yeah and George give back so much to the community not only with his songs and his happy attitude and aloha spirit.
BS: From his farm.
RS: Yeah. George lives in Kahakalua. Has a great farm out there always looking for volunteer labor. You can sign up with George and go help him on his farm and eat what is produced on his farm. I think every Saturday.
BS: I think so and then whoever is helping also gets food and he is donated I guess a huge amount of food to the Food Bank and to every source that he can.
RS: There are Maui charities.
BS: Right
RS: Thank you, uncle George.
BS: Thank you, uncle George.
RS: Yeah, fantastic what you do.
BS: I guess maybe we better say cousin George.
RS: Cousin?
BS: Yeah
RS: Yeah
BS: Anyway
RS: He is still younger than us I think.
BS: He could be. We are at that moment where it turns out everybody’s younger than we are and you don’t think you’re ever going to be that person but I think we are there now. Every time I think that maybe they are older than we are, not necessarily.
RS: Yeah
BS: Julie left us with today. Julie my daughter. Julie Ehu Flynn Sherlock she left us some information on loans and for everybody looking at real estate right now. Of course, the biggest question is financing. What are they going to be able to do? How does it work? Right now she was saying rates are still holding at all-time lows. A great indicator of the interest rates on home mortgages is the 10-year bond yield and right now it’s down almost 6 basis points to 1.51. That will signal that we will have low-interest rates still for a while now which is really going to be fabulous. Right now in Hawaii and Maui in particular we are dealing obviously with prices that are rising. I think for someone who really is looking to buy property today you’ve got to take a long hard look. I don’t see that we are going to have a huge drop in real estate prices and even if we do have some sort of a correction. The interest rate today which you will probably end up with a 30 year fixed mortgage is going to carry you through. We will see inflation because we always do. Rates will go I mean prices will go up again as they are.
RS: Absolutely
BS: Almost everything. It is hard right now on owner-occupant housing. Whatever you are looking for, prices are higher than you’d like them to be. There’s something still for everybody so you should get out there and take a look if you haven’t already made that decision. Still, we have a huge number of properties currently under contract. We have very few listings but there’s enough and it will keep happening. People are ready to move on. We are seeing new properties come in the market all the time because prices are high but it is kind of getting those folks that are ready to move on. That are retiring maybe can’t afford to stay in Hawaii or want to scale down to a smaller property or move to a larger. We are going to keep seeing a lot of activity.
RS: No question. Absolutely. It will continue and the FED announced yesterday that starting in 2023 they foresee 2 rate bumps going up. I think for the next year or so we’ll be still having low-interest rates on our mortgages but gradually increasing starting in 2023.
BS: You think it will be another whole year?
RS: It appears so.
BS: That’s kind of what the lenders are saying. Julie’s lender Wells Fargo. They have kind of made that comment.
RS: Yeah
BS: I’ve kind of been a little more worried about it etc but not sure. Again, we are going to keep seeing new properties coming on and it is a good time. Let’s figure it out. Let’s get you out looking at property. Call the agent that you worked with if you got someone or call Coldwell Banker. Elizabeth Quayle was supposed to be with us today but hasn’t been able to. She is out showing a lot of property. She has some really great listings right now I don’t know if you have too many of them here today. She can be reached at 276-6061. Do you have some of the other listings?
RS: Yeah and you can always reach Roy at 870-7060 or betty at 870-7062. Here’s a sample listing. Here’s a listing by Marcy Rhody from Coldwell Banker, 13 North Piki Place at Kaanapali in Kaanapali Hillside. It is a fantastic, 4 bedrooms, 3 baths a little over 2,500 square feet swimming pool listed at $1,965,000. Marcy can be reached at 280-2255. Marcy Rhody for this great listing.
BS: It is a great listing. They are in the heart of Kaanapali. Kaanapali Hillside is not gated which to a certain extent can be great for someone that isn’t looking for a high association fee yet they do have a good association. They keep control of the properties there. The lots are reasonable size I think 10,000 square feet.
RS: Right
BS: Somewhat average. The majority of them have some ocean view, some spectacular, some of the one stories don’t get as good of view but it’s an amazing development and you can walk to the beach.
RS: That’s a great family atmosphere. All of Kaanapali Hillside.
BS: I agree totally. There are so many great properties at Kaanapali Hillside. The one there that was the original Kaanapali Hillside is the best.
RS: Right
BS: Because it does have so much. It isn’t the largest of all the homes we can get you into those too but for today that is one that I think really is a spectacular value.
RS: Yeah and we are kind of skipping around a little bit but here’s another one in Kaanapali. It’s at 381 Wekiu Place. It is listed by Robert Myers of Coldwell Banker. Robert can be reached at 283-3067. This is 5 bedrooms, 4 baths. It is located in the Kaanapali Golf Estates so you are behind a gated community or in a gated community. Built in 2004, 3 car garage which is hard to find, 5 bedrooms, 4 baths, 3,600 square feet and great views from this property also. Call Robert at 283-3067.
BS: Another quick Elizabeth Quayle listing. It is brand new been on the market for 8 days at 1133 Front Street, 3 bedrooms, 3 baths just a really short walk to the baby beach in Lahaina. Really great home I would say it’s in really great shape and it will have everything that you need. It’s really worth coming and taking a look at that. She is already had a lot of activity so I think it is one that will probably end up selling within a very short period of time. I would give her a call if you are looking for something in the heart of Lahaina. You can walk almost anywhere and obviously you can walk to baby beach. Nothing I can think of as much better than that.
RS: It is a great location, great price, and call Elizabeth.
BS: Call Elizabeth (808) 276-6061 and come by and see that one. I know she was hoping to have a couple of open houses but I think the owners or someone was going to be there. She is showing it and is able to show it definitely for the next couple of days. That is going to be one. Take a look and she can get you into some other things also.
RS: Here’s one in the Launiupoko area of Lahaina West Maui, 80 Iliahi Way. It is a 5 bedroom, 5.5 baths located on over 7 acres. It is part of a residential condominium, 4,000 square feet, 5 bedrooms, 5.5 baths. Listed by Jan Bryan from Coldwell Banker Island Properties. Jan can be reached at 214-7837. Call Jan to look at 80 Iliahi Way. It is listed at $4,950,000 have been listed at $5,200,000. It is a price adjustment of $4,950,00 and it’s on 7 plus acres. Great location.
BS: One thing to keep in mind for both Roy and myself. We have specialized in Kapalua for many years and we are able to show you anything at the Kapalua resort from the Golf Villas up to Ocean Front homes etc. The inventory is drifting away quickly but there is still enough property. Our office is located at 700 Office Road so you can give us a call meet us there. We can fill you in on exactly what’s happening on the market. If you are in town now a Kapalua owner come on by and talk to us about listing your property. If you are ready to sell or thinking of selling I think no question this is the time so contact us. Contact whatever agent you have been working with. Roy or I would certainly love to sit down and share our expertise with the market at Kapalua and throughout the island and see where you are going with it. Could be buying, could be selling, and then buying. We are seeing a whole lot of that right now.
RS: A lot of sellers turned into buyers also. Call us, Roy 870-7060.
BS: And Betty (808) 870-7062. What else can we think of today? We have talked about a variety of options today, things that somebody will be interested in either real estate-wise or things going on in the community. Of course, Norm Estin isn’t calling in today. It’s his birthday which I’m sure he will be thrilled that we are announcing on the radio. Dr. Estin I feel has done so much for the community always. Since the pandemic, he has really stepped up and led in testing for the longest time. Led in vaccinating and has done a superb job of trying to spend a lot of his time and energy on the reason why you should be vaccinating. You have to vaccinate and how we are going to get to that magical 70% factor which he is hoping we will but only if we all kind of think about it, listen to this and get vaccinated, and encourage those around you. Every day I hear someone that is still taking the attitude that they don’t have to do it or they are taking the attitude that the other 70% can do it so they don’t have to step up. I think we all need to step up and if we can get to 100% it’s even better than 90% whatever we can do. 70% is where let’s call that our break-even. Let’s get vaccinated, everybody.
RS: Yeah. Dr. Norm, we gave him a day off today for his birthday.
BS: Yeah
RS: He has done so much for Maui and spreading the word about getting vaccinated and physically doing it himself. Thank you, Norm for all you do.
BS: I know he has kind of almost brought people in off the street the minute he had something available. I think a lot of doctors are doing that I’m sure it’s not just Norm. Norm is West Maui. He is been all about West Maui. He has now opened a new doctor on call in the Wailea area.
RS: Yeah, in the Shop of Wailea.
BS: Every day he is all over the island. I hate to even have to leave West Maui. It just seems to take so much of my time but he is fabulous for being on. When you are trying to track him down Lord only knows where he is going to be.
RS: Yes. Back to real estate now.
BS: Okay
RS: I’ve got a great listing here. It’s a Kahana Manor, 1 bedroom, 1 bath. Kahana Manor is for those of you in West Maui who aren’t totally familiar with Kahana Manor. Downstairs is where, What’s that pizza place that we go to?
BS: Dolly’s pizza.
RS: Yes
BS: Great pizza.
RS: Dolly’s pizza is right there. Kahana Manor is a great owner-occupant building. This is unit number 313 and it’s listed at $477,000. It’s a 1 bedroom, 1 bath and it is listed by Rick Kepler from Coldwell Banker. Rick is at 283-3729. 283-3729 is Kahana Manor 313, 1 bedroom and 1 bath. Good size, it’s 630 square feet so good size 1 bedroom.
BS: We also have a couple of different properties across the board. We have a listing
at Napili Ridge, Elizabeth Quayle again unit C3. It’s a 1 bedroom, 1 bath listed at a $215,000 leasehold. I believe for right now that you could add the fee purchase for $134,000 which gets the price up but it is one of the properties that they have been able to do short-term rentals in. It is great for owner-occupants, a short walk to the beach. It is in a very residential neighborhood with other apartments or condominiums and a lot of regular homes.
RS: Yeah, very quiet area.
BS: Very quiet.
RS: Very residential in nature even though they do allow short-term rentals it is very quiet. It’s not a yahoo party kind of an atmosphere.
BS: It’s been updated over the years. It’s the whole property is in great shape, great manager so I think it is one that somebody can get into today for a relatively low price in West Maui.
If anything changes in their life they would be able to do short-term rentals there. Again, way worth doing it. Also, Roy, we’ve got a couple of listings Coldwell Banker at the Ritz Carlton, 1702 1 bedroom, 1 bath listed by Reiko Hata, and her phone number is 250-3482. Listed at $999,000, 1 bedroom, 1 bath really nice location. It is on the lobby level and has a very nice view from it. It really is a great value and then we also have a listing 1707-09 which is on what I call the sunrise side. Very spectacular 2 bedrooms, 2 baths and also on the lobby level. I don’t know I think these are really of great value. The 2 bedrooms are listed at $1,800,000. They do an unbelievable job in the Ritz Carlton rental program. Really great value, a good purchase opportunity.
RS: Yeah. It is not often you can find an apartment in a 5-star hotel and the Ritz Carlton Kapalua is certainly a 5-star hotel. They will take care of all the management for you, the upkeep, the maintenance of the apartment and send you a check every month.
BS: They pretty much do everything not to mention food. Let’s talk about breakfast at the Ritz Carlton. I love it. Absolutely love it. Typically it has just been really interesting and with all the changes going on. They are now doing more or less a semi-virtual buffet so that certain things you can go up and kind of point to but nobody’s handling the food except the workers there. You can get like a huge plate for your table of fruit, everything that you could imagine. They will get a big plate of bacon and you can order almost any separate on a tray. It’s really an amazing value and it is so fun. I mean the help there. We were everybody was like so happy and spinning around in circles. Sunday we had the whole family there. We had such a fabulous fun breakfast. It was the best. Ritz Carlton Kapalua for breakfast.
RS: Yeah in the Banyan Tree restaurant for dinner. It’s a great location, oceanfront at the Ritz Carlton and the food is just awesome. The Banyan Tree of the Ritz Carlton.
BS: Maybe that’s enough little real estate information. We’ve got 3 minutes left here. I think it’d be great. Is there anything else coming up shortly here that we should be letting people know about?
RS: Well, there’s coming back to the community affairs and so forth I know many Mauians support various charities. I googled today Maui’s charitable organizations and I was surprised at the number of charities on Maui. I mean there are 4 google pages of charities listed and it’s fantastic. I know we sold one we closed on the property today. I won’t mention where and what foundation but we closed a fairly sizable transaction and every penny that is realized by the selling foundation is going to remain on Maui and will be distributed to Maui charities over the next several years.
BS: Another really interesting thing is Hale Makua which has been called a house of the frail and elderly in the very early days but today it’s so many different people that may need help and need continued help. They are going to have a virtual because we can’t have a luau this year. They are going to have kind of a virtual luau.
RS: Yeah
RS: It’s this Friday I think it is. Go to halemakua.org and there’s a benefit concert basically and you will be able to contribute to Hale Makua. What a great organization. We have supported Hale Makua for nth years.
BS: 50 years I don’t know. It’s getting close to that.
RS: A lot of years and what a great organization
BS: Who is the top entertainer that’s going to be doing this? When you donate your money that’s going to be a show and it will be. You don’t have to pay for it I don’t think in any way.
RS: No.
BS: It is Kapena?
RS: It is Kapena right. I was trying to think of who the group was. Right, Kapena.
BS: I guess we are coming up to the end and we are here. Aloha everybody we will see you in pretty much 2 weeks and Danny Couch is back with I love Hawaii.
RS: Aloha
BS: One of the best of all songs. Aloha.
