Transitioning from one home to another takes a lot of work, energy and planning, even when you live on an island Maui's size. If you've found your way to this blog, you're most likely in the process of searching for Maui real estate. If you already live on the island, you may end up making use of U-Haul's first full-service moving and self-storage facility on Maui, sometime in the future. Conveniently located in Kahului at 424 Dairy Road, the former location of K-Mart, they're currently offering truck and trailer sharing service, as well as moving supplies. For now, they're using a temporary showroom there as they continue to renovate the site for their purposes.
When complete the facility will include over 1,000 indoor, climate-controlled self-storage units, which will be guarded with high-tech security features and U-Haul Remote 24/7® access. In fact, they've gone the extra mile by adding propane and boat storage. With 107,520 square feet of indoor space and 7.3 acres of outdoor space, accommodating boats won't likely be difficult.
According to Kaleo Alau, U-Haul Company of Hawaii president, they're working hard to meet a major demand on the island for self-storage. If you're among those who are in need of self-storage as you transition between residences or struggle to find space for your valuable possessions, this facility could be the perfect solution. As for moving truck rentals, their self-service technology allows self-pick-up and self-return of U-Haul trucks entirely by smartphone at any hour.
Interestingly, the former K-Mart location was chosen thanks to U-Haul's corporate sustainability initiatives, which encourage infill developments. This means repurposing vacated buildings instead of constructing new ones, which helps them reduce their carbon footprint within the local community, and relieves cities of their unused buildings. In the case of this particular facility, U-Haul reduced their manufacturing and transportation requirements by 360 tons of metal, 5,730 tons of new concrete pours, 6,237 tons of construction and demolition debris out of landfills, and 3,759,443 pounds of greenhouse gas emissions.
Alau also pointed out that the location has been used for community events like car washes and farmer's markets in the past, and that this is a trend they intend to encourage in the future. About ten team members will be hired from the local community when the facility is fully operational.
If you'd like more info or you'd like to contact them, you can call (808) 249-8041 from 8am to 5pm, Monday through Friday, and 9am to 3pm on Sunday. You can also visit the website at uhaul.com or make reservations at 1-800-GO-UHAUL. In the meantime, if you still need assistance with your Maui home search, you'll find our contact information at the bottom of the page. Mahalo!
The health of the economy is a vital factor in making investment decisions, whether you're thinking about buying Hawaii real estate or anything else. Not all states are economically equal, and making the right choice can pave the way for satisfaction and prosperity, or disappointment and setbacks. Insight on both the market and the local economy are two sides of the same coin. When it comes to the Maui real estate market, the monthly reports from the Realtors Association of Maui will provide you with data on the trends. As for the economy, some worthwhile information has recently been released via a report from the Hawaii Department of Business, Economic Development and Tourism (DBEDT).
According to the Statistical and Economic Report released in the fourth quarter of 2017, analysts predict that Hawaii can look forward to stable economic growth over the next few years. In terms of numbers, that growth is expected to nudge up by 1.5 percent. As we real estate professionals know, it's the slow, steady growth that makes for a healthy market, and that's also true for the economy as a whole.
Here in Hawaii, both the economy and the real estate market are heavily influenced by the visitor industry, which performed better than expected in the first ten months of 2017, according to the report. They noted an increase of 4.9 percent for arrivals and 7.1 percent for spending in the first three quarters of the year. This growth feeds into real estate values, thanks in part to demand for vacation rentals and luxury second Maui homes.
One of the factors that stood out in the report was the record level of visitors that Hawaii is on track for this year. Airlines are wisely responding to demand by increasing scheduled air seats by 8.5 percent in the first three quarters of next year. Direct flights to neighbor islands like Maui are slated to increase by over 20 percent. Hopefully there will be some competitive rates among them. If the current trend in visitor arrivals continues, 2018 could see 9.5 million visitors, according to DBEDT Director Luis Salaveria.
Hopefully, this information will help you get a sense of what to expect from both the economy and the Maui real estate market. For assistance with the latter, you'll find our contact information at the bottom of the page. Don't hesitate to reach out to us if you're interested in a Maui real estate purchase or you have any related questions that require an expert answer. Mahalo!
This week, we'd like to highlight a gorgeous oceanfront condo for sale at Kapalua Bay Villas. If you're interested in a 1 bed/1 bath luxury unit in exquisite Kapalua, this may be the perfect investment for your needs. The unparalleled location puts you in the heart of the renowned Kapalua Bay Villas II, a gated community with 24-hour security, Kapalua shuttle service and a long list of amenities.
Learn more about Unit 17-G4 at Kapalua Bay Villas II
This delightful, single-story unit boasts a prime ground floor location, giving you especially convenient access to the marvelous amenities. Even at this level, you get to enjoy breathtaking ocean vistas from the living room and kitchen areas. The sellers are including most of the furnishings, so it could be the turn-key purchase of your dreams.
The unit features 1,006 square feet of living area with tiled floors throughout and a delightful lanai outside the living room, facing a verdant green lawn. It's the perfect place to lounge, enjoy an outdoor meal, soak in the sun, and watch whales at play in the winter and spring months with your loved ones. A second lanai graces the space outside the master bedroom, and its privacy would make it an excellent place for some quiet time, an intimate conversation, or perhaps some reading.
Its location within the Kapalua Bay Villas II comes with a delightful array of amenities. The community is nestled into more than 16 acres of thoughtfully designed structures, featuring a total of 141 oceanfront, low-rise, luxury condos, surrounded by lush tropical landscaping. There are three tranquil swimming pools, two charming tennis courts, barbecue areas, and best of all, direct access to the marvelous Oneloa Beach.
This condo brings the many delights of the Kapalua Resort to your fingertips, including fine dining, shopping, art galleries, a variety of wonderful beaches, and three 18-hole championship golf courses. This part of the island is well known for providing every luxury to its residents, so you can experience the island life that you're looking for.
The sellers have taken excellent care of this condo over the years, using the space as a family, and renting it out the rest of the time through VRBO. Being that it's active as a vacation rental, please reach out to us to schedule a showing based on its availability. If you have any questions, or you need our assistance, you'll find our contact information at the bottom of the page. Mahalo!
If you're keeping a finger on the pulse of the Maui real estate market, the monthly reports from the Realtors Association of Maui (RAM) are the best resource. They provide a wealth of data on Maui home, condos and land listing sales for the given month, plus year-to-date statistics. The latest report revealed that both Maui home and condo sales soared in October, 2017, as median prices rose.
To be specific, Maui home sales increased by over 35 percent to 111 homes sold, compared to the same month last year, which saw 82 homes sold. Median prices were at $667,350, which was 5.5 percent higher than the $632,500 of October 2016. As we always remind our readers, the percentages can swing widely based on a relatively small number of sales in a small market like ours, but that being said, October's growth trends were pretty remarkable.
According to the report, condo sales shot up by 38.1 percent to 134 sales, compared to 97 sales in the same month last year. The median price of a Maui condo was up 12.9 percent to $519,500 from $460,000 in October of 2016. Often times, we'll see a spike in home sales, or a spike in condo sales, but rarely both in one month, much less to such a dramatic extent.
As always, the year-to-date information provides the clearest picture of Maui's real estate trends. For the first ten months of this year, the median price of a single-family Maui home was $695,000, up 9.4 percent from $635,000 for the same period last year. The median price of a condo was $450,000, up 7.1 percent from $420,000 during the same period last year.
In the first ten months of the year, home sales rose 5.6 percent to 937, up from 887 sales during the same period last year. Meanwhile, condo sales reached 1,184, up 9.9 percent from 1,077 units sold during the same period last year.
Considering the reliability of year-to-date trends, this data says a lot about the value of a Maui real estate investment. If you're contemplating one of your own, you'll find our contact information at the bottom of the page. We would be happy to help you through every step of this rewarding process! Mahalo!
Diving into the Maui real estate market can be joyful, rewarding, exciting, and sometimes a bit overwhelming. If you're bursting with excitement to finally get your Maui dream home, that's a good sign! You just need to make sure to focus on making savvy choices in the process to ensure that living in your new Maui home is everything you hoped it would be. Here are some tips to keep in mind.
Get Pre-Approved - Always get pre-approved so you know exactly how much home you can afford. This way, you can shop with confidence, and most importantly, you won't fall in love with a particular home or condo only to find that your lender won't approve you for the total price.
Know When to Compromise - Buying the right home is often a balance between cost and quality. While one home might be move-in ready and look perfect, you can expect a higher price tag. If you don't mind flexing your DIY skills, or learning some new ones, you might find that you have a rewarding experience fixing up a home that you got at a more affordable price. Besides, you might find that you end up wanting to change the style of that seemingly perfect home anyway.
Explore Thoroughly - While a home might charm you from its external appearance, it's always a good idea to really explore a home. A good way to do this is to pretend you already own it in your mind's eye. Then you'll feel more comfortable about opening the cupboards, strolling across the lanai, and testing out the lights and plumbing. Getting a sense of the broad strokes is easy, but make sure you take time to pay attention to the details that make one home more appealing to you than another.
Compare Neighborhoods - When you choose a home, you're choosing a neighborhood, too. There are plenty of fantastic communities here on Maui, and quite a lot of variety. If you're really going to feel at home, you'll want to feel comfortable with the feel of the neighborhood, too. For example, if you like to go out for walks, look for well-maintained sidewalks. If you're concerned about the safety of your kids or pets near the street, maybe look for small streets, or a home on a cul-de-sac where no one is speeding by. If you value privacy, a home in a gated community or rural area might suit you best. Just make sure to take some time to really get to know the area around the homes that you're considering.
Ask For Utility Bills - Here's a tip you won't hear every day. Ask the seller for their recent utility bills. Try to get a record of the past year, if you can. This will tell you how cost effective it is to keep the home functioning on top of the price tag for the home, and your other living expenses. Once you know what the utilities cost, you can evaluate whether those bills are affordable, and whether it's worth it to invest in ways to reduce them.
Learn Maui Real Estate Terms in Our Glossary - Even if you've purchased real estate in the past in another state, the Maui real estate market is going to be a little different, with a number of terms and concepts that are unique to Hawaii's market. If you run across an unfamiliar word, you can ask your realtor later, or save time and look it up in our Maui real estate glossary.
Balance Your Head, Heart, and Gut Instinct - Some realtors will say that if you fall head over heals in love with a home, you should trust your instincts, move fast and buy. The problem is, falling in love is not an instinct, it's an emotion. Others will say that if you feel the choice is solid from an investment standpoint, the rest will fall into place, but buyers who make decisions based mostly on math end up feeling like there's something missing. And sometimes, you'll like the home, and it'll look good on paper, but for some odd reason that you can't put your finger on, something just doesn't fit. That's instinct, and a good realtor won't urge you to ignore it. The best recipe for long-term success in buying a home on Maui or anywhere else is balancing your head with your heart and your gut instinct. When each vital part of you is allowed to do its job, you're most likely to make a decision that you can trust in the long run.
We hope that these tips serve you well as you search through the many magnificent Maui homes for sale, and that you'll reach out to us if you need our assistance through any step of the process. You'll find our contact information at the bottom of the page if you need us. Mahalo!
U-Haul Opening Full Service Moving and Self Storage Facility on Maui
Transitioning from one home to another takes a lot of work, energy and planning, even when you live on an island Maui's size. If you've found your way to this blog, you're most likely in the process of… Continue Reading
The health of the economy is a vital factor in making investment decisions, whether you're thinking about buying Hawaii real estate or anything else. Not all states are economically equal, and making the right choice can pave the way for satisfaction and prosperity, or disappointment… Continue Reading