Front Street (Lahaina, HI)
Front Street (Lahaina, HI) Real Estate News
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Aina Nalu Resort Sales Statistics - Q1 2014
Barbara Potts (Aloha Realty Group)

Presented by AlohaPotts with Aloha Realty Group

Issue 34, Q1, 2014

 

Aloha from your resident experts!

In the first quarter there were 4 units sold – 3 one bd units and one 2/2 downstairs unit facing the large pool and hot tub, which sold for $395,000. The one bedrooms sold for $269,000 - $290,000. The slower sales pace for 2 bedroom units has surprised us.

Our inventory for 2 bedroom units has grown to eight 2/2 units and one 2/1 unit.  Six of the 2/2 units are upstairs. There is only one 1 bedroom condo listed, priced at a hefty $329,000.  The two bedroom units are priced between $377,500 and $439,000.

 

The occupancy levels appear to be excellent; it’s difficult to show the active listings because they are almost always occupied when we receive requests to show. We sometimes need to show them between check in/check out, before they are clean.

At current inventory levels and sales pace, we have 1 month of inventory for 1 bedroom units and 27 months’ of inventory for 2 bedroom listings!  Why the difference?  Price, maintenance fees, and rental income!  The price differential (one bedroom to two bedroom units) this last quarter for sold units was over $100,000; the maintenance fees for 1 bedroom units are about $300+ less a month; the rental income in 2013, according to Outrigger average statistics, was only about $158 less per month for a one bedroom unit. So it is an economic decision. Now that the only 1 bedroom listed is priced at $329,000 we expect the balance to shift a little.

When you look at average Q1 prices since last year, here is the lowdown:

QTR Unit Type Inventory Avg Sold $ Change Avg Asking $ Change
2013

1 BD stairs

1 n/a   $210,000*  
2014

1 BD stairs

2 $280,000   $329,000 +57%
2013

1 BD stairs

4 $225,000   $287,000  
2014

1 BD stairs

2 $279,500 +24% n/a  
2013 2BD/ 1BA 2 n/a   $295,000  
2014 2BD/ 1BA 1 n/a   $379,000 +28%
2013 2BD/ 2BA 6 $325,000   $351,500  
2014 2BD/ 2BA 9 $395,000 +22% $408,444 +16%

 

From Jan 1 to Mar 31, there were 14 listings (none were distressed properties). There were no pending sales at the end of the quarter.  There were no expired or cancelled listings at the end of the quarter, either.  As of April 7, there is just 1 one bedroom listing, priced at $329,000 and there are 9 two bedroom listings.

 

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Aina Nalu Resort Sales Statistics - Q4 & Year-End Review 2013
Barbara Potts (Aloha Realty Group)

Presented by Aloha Potts
Issue 32 – Q4, 2013

 

Aloha! from your Resident Experts!

 

At year end there were 7 active listings, only one of which was a 1 bedroom unit, and that unit is in escrow at this time. For the first time in a while, we have more upstairs 2 bedroom 2 bath units for sale than any other category.  As of 1/13/14 we have 8 active listings, of which there are: one 2/1 downstairs priced at $379,000, two 2/2 downstairs units both priced at $399,000, and five 2/2 upstairs units priced from $377,500 to $439,000. 

 

 

 

We only had one closing in the 4th quarter – a one bedroom downstairs unit that closed for $259,000.  One 2/2 upstairs unit that has been listed for 67 days was recently reduced to $377,500, so we expect that unit to go into escrow soon.  There is also a 2/2 downstairs unit in escrow that should close in January with an asking price of $410.000.  We are experiencing good activity levels with interest from buyers and showings (when we can get into the units, since occupancy is high at this time of year). 

 

 

 

The differences in asking and selling prices probably  has  to do with three things

 

  • the motivation of the sellers and the buyers,
  • location within the development and
  • condition of the unit. In some cases owners have invested in new paint, furnishings and A/C units, while other units are in ‘original condition’. 

 

 

 

It does feel like prices have stabilized a bit over the last few months, and with more inventory we don’t expect prices to continue to increase they way they did in 2013.

 

 

 

With 8 current active listings, and three sales (including the 2 in escrow which will close in January and the 1 closed sale), we have approximately 8 months of inventory available, more than last quarter.  This time of year tends to be busier in terms of interested buyers, so we are optimistic that the sales pace will pick up by the end of the quarter.  

 

 

 

From October 1 to December 31, there were 11 listings (there were no short sales or REO/bank owned sales). There were 2 pending at the end of the quarter.  At the quarter’s end, there were only 7 listings available for sale; all of which were 2 bedroom units.

The 2013 closed sales for Aina Nalu are listed below.  Out of 15 sales in 2013,   Aloha Realty Group was involved in 6 of the transactions and represented 9 buyers and sellers in those transactions.  The average days on market for all sales was 175, and the average sales price to list price percentage was 94%

 

Unit

Bds

Bths

Sold Price

Days On Market

C-105

1

1

$225,000

70

D-105

1

1

$250,000

157

J-105

1

1

$250,000

175

G-106

1

1

$259,000

224

K-205

1

1

$250,000*

647

H-105

2

1

$280,000

270

H-107

2

1

$300,000

42

A-108

2

2

$320,000

106

B-102

2

2

$320,000

176

K-107

2

2

$325,000

991

A-101

2

2

$337,000

284

G-104

2

2

$340,000

42

K-109

2

2

$340,000

137

B-210

2

2

$280,000*

275

A-203

2

2

$375,000

85

 

 *= sold as short sale

 

From Jan 1 to December 31, there were 26 listings (2 were short sale and none were REO/bank owned). Two listings were pending at the end of the year.  At the year end, 2 of the listings were canceled, leaving 7 active listings. As of January 13th, there are no one bedroom units listed. There is one downstairs one bedroom unit in escrow.

Barb

 

 

 

Live Aloha!

 

Barbara S. Potts, R(B),  MBA, SFR, ABR®, CNE, CIAS, GRI
Certified Short Sales and Foreclosure Resource
Principal Broker

Aloha Realty Group
180 Dickenson St. #217
Lahaina, HI 96761
808-344-5008 cell
808-443-0555 efax
Search active Maui listings at  www.aloharealtygroup.com
Search for additional property information at www.alohapotts.com

 

 

We are never too busy for your referrals

 

To Make a Difference in our children’s lives, please contact me to see what you can do to help or visit our website at:  http://www.ilovemauischools.com

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Aina Nalu Sales Statistics: Q3 2013
Barbara Potts (Aloha Realty Group)

Presented by Aloha Potts
Issue 31 – Q3, 2013

Aloha! from your Resident Experts!

Of the 9 listings in the 3rd quarter of 2013, one was canceled and 3 were sold, leaving 5 active listings.

Sales prices are steadily increasing – even a one bedroom short sale closed for $250,000 after being on the market for 647 days.  The asking prices for 2/2 units have increased around 16% since the same time last year.  The latest closing for a 2/2 unit at $375,000 also represents about a 16% increase from last year’s Q3 high closing price for a 2/2 of $324,000.

Today we still have a 1 bedroom listing for $279,000 and a 2 bedroom 1 bath unit listing for $345,000.  The 3 two bedroom 2 bath units are listed at $399,000 and $410,000 (two units listed at the same price).  So we have broken the $400K barrier for asking prices that some of you have been waiting for.

There was a studio listed for a short while, and multiple offers were received on that unit, but the seller elected to cancel the listing. The asking price was $225,000, and offers came in at or above the asking price. There are few studios at aina nalu and the rental revenue is strong, but financing is a challenge for aina nalu studios, so studio sales need to be cash deals.

So with active 5 listings at this time and an average sales rate of 2 per quarter, we now have about 7.5 months of inventory available, which is close to a balanced market.   (6 months’ inventory is considered balanced in most markets.) It feels like our market at aina nalu has stabilized and we can expect continued price appreciation for the next few years, based on market projections – barring unforeseen challenges caused by our Washington legislators’ inability to agree!  Maybe they need some aloha?

From July 1 to September 30, there were 9 listings (only 1 was a short sale and none were REO/bank owned). There were NO pending at the end of the quarter.  At the quarter’s end, there were only 5 listings available for sale.

For further information on properties at aina nalu or anywhere on Maui, contact Lee or Barbara at lee@alohapotts.com or barb@alohapotts.com, or call 808.276.8776. You can visit our website at www.alohapotts.com for real estate information and surf all of the listings on Maui anytime you like.

Barbara

Live Aloha!
Barbara S. Potts, R(B),  MBA, SFR, ABR®, CNE, CIAS, GRI
Certified Short Sales and Foreclosure Resource
Principal Broker
Aloha Realty Group
180 Dickenson St. #217
Lahaina, HI 96761
808-344-5008 cell
808-443-0555 efax
Search active Maui listings at  www.aloharealtygroup.com
Search for additional property information at www.alohapotts.com

We are never too busy for your referrals

 To Make a Difference in our children’s lives, please contact me to see what you can do to help or visit our website at:  http://www.ilovemauischools.com

Lee and barb 12 09 008 medium
Lahaina Tutoring Project receives $21,000 from Aina Nalu Fundraiser
Barbara Potts (Aloha Realty Group)

Aloha!

The Lahaina Tutoring Project is an organization here in Maui that consists of volunteers from the community who tutor the elementary, middle, and high school children around Lahaina.

My fellow PFEE.org members and I decided to put on a fundraiser to help raise money for this inavluable cause. It was a great success!

More info: http://www.alohapotts.com/lahaina-tutoring-project/2013/08/

 

 

Lahaina Tutoring Project receives $21,000 from Aina Nalu Fundraiser

 

August 20, 2013 – Lahaina, Maui

 

The Aina Nalu Wine & Silent Auction Fundraiser, held on May 25 and sponsored by People for Educational Equality, Lahaina Town Action Committee and others, was a huge success by all measures. Today the Tutoring Project received $21,000 as a result of the fundraiser and private donations.  Attendees of the May event enjoyed a wonderful evening with friends, pupus, wine, live entertainment by Sam Ahia, and a huge silent auction in a beautiful setting around Aina Nalu’s infinity pool.

 

The event was held at the Pavilion on Aina Nalu, 660 Wainee Street, Lahaina. The decorations were elegant and the ambience was perfect for a night of mingling, and most importantly, giving!

 

Waiters passed around pupus provided by Betty’s Beach Café,

Pioneer Inn, Take Home Maui, CJs Deli, Lahaina Yacht Club,

Fleetwood’s, The Bakery, Koa’s Seaside Grill, and Ono Gelato, as well as committee members Debbie Arakaki, Liz May, Connie Stevenson, Cathy Kampstra and PFEE board member, Flo Wiger.

 

There was an impressive array of wines from all over the world, donated by local businesses and individuals. Many chose to sample and drink their wine from the commemorative wine glass they were given upon entry to the event. For those who preferred a different kind of beverage, Maui Brewing Company donated an assortment of locally brewed beers.

 

The Lahaina Complex After School Tutor Project, founded by Richard and Pat Endsley of Lahaina over 13 years ago, helps students in the four public schools of West Maui to increase literacy and comprehension in various subjects and to build self confidence, self–esteem and leadership qualities. The project has no regular source of funding, is staffed with all volunteer tutors, and provides bus service and snacks, annual curriculum, and incentives for students.

 

Richard and Pat Endsley, along with Lee and Barbara Potts, offer their thanks to all the donors, volunteers, and attendees.  

 

Richard said that he was "overwhelmed at the amount of talent displayed by the volunteers and Fundraiser Committee members. They are a wonderful team!"

 

"We could not have had such an outstanding fundraiser event without your incredible support!!  We are so blessed to have so many people who care about  the education of our keiki and our  tutoring project.  A huge mahalo to all of you," said Pat of the volunteers.

 

Liz May of AAAAA Rent a Space in Lahaina said that her efforts as a committee member were "A true labor of love benefitting education.  I believe [this fundraiser is] one of the best causes in our community."

 

Lee & Barbara Potts are planning another aina nalu fundraiser in May of 2015 (every other year) for the tutoring project, and they support the project on an ongoing basis through donations and volunteer tutoring.  If you are interested in donating to this important project that benefits hundreds of public school children and their families in West Maui every year, you can donate online at http://www.razoo.com/story/Lahaina-Tutoring-Program or www.pfee.org or you can mail a donation to People for Educational Equality, c/o Barbara Potts, 180 Dickenson St. #217, Lahaina, HI 96761.

 

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Aina Nalu Sales Statistics: Q2 2013
Barbara Potts (Aloha Realty Group)

Aloha! From your Resident Experts!

Of the 15 listings in the 2nd quarter of 2013, 2 were pending and NINE were sold at the end of the quarter. BB King once said, “the thrill is gone.” Well now, the deals are gone.

 

For the same quarter one year ago there were 2 two bedroom units sold. The median price was $261,250. This year there were 8 two bedroom units sold including a 2/1, and there were seven 2/2 sold with a median price of

$320,000. That’s a 22% increase in selling price.

 

Today there is a 2/1 listed for $345,000. There are two 2/2’s for sale. The upstairs unit, A203, is listed for $395,000. The downstairs unit, G108, is listed for $399,000.

 

If you’ve been thinking about getting into Aina Nalu, you may want to make a move now before the market gets back to where it was when we bought.

 

There were 4 one bedroom units on the market in the 2nd quarter. Two of those sold for $250,000 each, and one short sale has been in escrow since October of last year. During the same period a year ago 1 unit sold for $210,000.

 

Today there are only 4 units available for sale. That’s a far cry from where we were back in ’09 – ’10 when it wasn’t unusual to see almost 30 units on the market.

 

We want to thank everyone who participated in or attended the Aina Nalu fund raiser for the West Maui Tutoring program. Barbara Potts says that $21,000 will be donated to the program.

 

From April 1 to June 30, there were 15 listings (2 were short sale and none were REO/bank owned). Two listings were pending at the end of the quarter. At the quarter’s end, there were only 4 listings available for sale.

For further information on properties at aina nalu or anywhere on Maui, contact Lee or Barbara at lee@alohapotts.com or barb@alohapotts.com, or call 808.276.8776. You can visit our website at www.alohapotts.com for real estate information and surf all of the listings on Maui anytime you like.

Georgina hunter realtor
4th of July Fireworks on Maui 2013 - only in Lahaina this year
Georgie Hunter, Maui Real Estate sales and lifestyle info (Hawai'i Life Real Estate Brokers)

4th of July Fireworks on Maui 2013 - only in Lahaina this year

Front Street in Lahaina Maui HI

The only fireworks display on Maui this year (2013) will be off Front Street in Lahaina.

  • starts at 8:00 pm
  • Front St. closed to traffic from 4:00 -9:30 pm
  • organized by the Maui Chamber of Commerce

 

Campbell Park in Lahaina will be hosting a 4th of July celebration with music, food and drinks, from 5:30 - 9:00 pm.

AAA Hawaii is offering an alternative way to get home if you have been drinking.  Partyers can call 800 222-4357 to ask for a free tow home, up to 5 miles only.  This service is already in effect and good until midnight on Thursday the 4th.

Have fun and drive safely!  Happy July 4th 2013!

 
 
 
 
If you're ready to buy a home on Maui, call or text me 808 283-0635 EMAIL 
Aloha from Maui... 

ActiveRain blogfacebook profilemy flickr photosget LinkedIn with meYouTube channel for the MauiHunterTweet with me on TwitterRSS 

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Aina Nalu Sales Statistics: Q1 2013
Barbara Potts (Aloha Realty Group)

Presented by Aloha Potts
Issue 29 – Q1, 2013

 

Aloha from your resident experts!

Of the 13 listings in the 1st quarter of 2013, 7 were pending and 2 were sold at the end of the quarter.  Two listings were canceled, and another went into escrow today, so there is now only one active listing!

There are three short sales in escrow at this time, and currently no active listings that are distressed properties.

With only 1 active listing and no 2 bedroom listings at this time, we have buyers waiting for listings, especially upstairs listings.

Current listing inventory consists of 1 one bedroom downstairs unit; the one 2/1 downstairs unit went into escrow today (4/17).

We are experiencing stronger demand for aina nalu condos as occupancy seems to be strong and inventory levels decrease, resulting in increasing prices in general.

The market in general is still very active —rates are great and prices are still good.  Our ongoing challenge is finding properties for our buyers who want to buy at market prices.  Appraisals are coming in higher than in the past—good news for aina nalu owners!

We invite everyone to our fundraiser at aina nalu on May 25 from 6 to 9 pm, the day after the annual AOAO meeting, for the West Maui Tutoring Program. We hope you can attend, and we are looking for wine and silent auction donations. Please contact Barbara for more information.

By the way, the buildings are in the process of being power washed and painted.  It’s going to look like new and we are already getting lots of compliments from prospective buyers on how great the grounds look.  

From January 1 to March 31, there were 13 listings (3 were short sale and none were REO/bank owned). Seven listings were pending at the end of the quarter.  At the quarter’s end, one of the 1 BD/ 1 BA and one of the 2 BD/ 1 BA listings were canceled, leaving only TWO active listings.

Lahaina, HI Real Estate Professionals
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