Aloha From Maui! – Island Update March 2021
Normal spring increases in sales activity, coupled with relaxing COVID-19 policies, created a very busy March real estate market as buyer demand continued largely unabated in the face of rising home prices and mortgage rates. Existing home sales and new construction activity continue to remain below levels necessary to bring the market back into balance, pointing to a busy and competitive buyer market in the coming months. The Maui real estate market is on fire. New Escrows for Maui condos are up 414% versus a year and single-family up 138%. Price are up about 15-17%.
Starting May 4, 2021, traveling to Maui will require a second post-arrival test . This rapid test will be administered at Kahului airport after arrival, and it will be free of charge. Mayor Mike Victorino recently announced on April 27th that fully vaccinated trans-Pacific passengers will be able to skip the mandatory post-arrival test on Maui when the program begins.
A new development is that beginning May 11, 2021, individuals fully vaccinated in the State of Hawaii may travel inter-county without pre-travel testing/quarantine starting the 15th day after the completion of their vaccination. Governor Ige announced the intention to be one of the first states to use health/vaccine passports. It appears the state is proceeding using a three-phase approach to vaccine/health passport travel. More to come…
Featured Listing of the Month
4039 Lower Honoapiilani Rd. Lahaina, HI 96761
0.95 Acres | Oceanfront |Bedrooms: 6 | Bathrooms: 6.5 | Living Area 5,418 sf
$12,900,000.00
Maui Ocean Home
This entertainer’s dream home has an unparalleled oceanfront lifestyle of peaceful seclusion and luxurious comfort. The approximately 1-acre, gated, oceanfront estate cultivates a rare sense of privacy and tranquility. And, no expense was spared in the total renovation and re-furnishing to modernize Maui Ocean Home over the last couple years. It’s now adorned with an unsparing collection of lavish finishes and furnishings including tiger wood floors, Ann Sachs glass tile, Walker Zanger stone, and-all new kitchen and bathrooms. This Classic Plantation style residence sets a new standard of island elegance and sophistication. The stunning views over the private sandy-beach lounging area (man-made), secluded coastline, turtles frolicking at the shoreline, whales breaching in the distance, and the majestic outer islands of Lanai and Molokai with the epic Maui sunsets in between, creates a picture-perfect postcard.
Sunset Beach BBQ
Another epic night at Dean’s Bar & Grill at Ka’anapali Beach…at 30% capacity.
Market Update – March 2021
Maui continues to record record sales in 2021. This is the hottest I have seen the Maui market in my 30-year career. These numbers are staggering…
1. Pending Sales increased 137.7 percent for Single Family homes and 414.8 percent for Condominium homes.
2. Inventory decreased 54.1 percent for Single Family homes and 37.7 percent for Condominium homes.
3. Median Sales Price increased 17.4 percent to $980,000 for Single Family homes and 15.3 percent to $640,000 for Condominium homes.
4. Days on Market decreased 10.0 percent for Single Family homes and 2.7 percent for Condominium homes.
5. Months Supply of Inventory decreased 60.4 percent for Single Family homes and 43.5 percent for Condominium homes
For a comprehensive market update select the Monthly Market Statistics link below.
Referral Partner – Steve Epstein – Santa Barbara
As a long time real estate professional, I have noticed that we often refer to the mindset of “selling a lifestyle” to our clients. What I have learned over my 33 years in the business of serving our valued clients is that we have created our own lifestyle…of service. To that end, I constantly remind my wonderful team of agents that we are really a “Real Estate Concierge”!
Having spent most of my life in Santa Barbara, my hobbies are active ones that lend themselves to the Southern California lifestyle such as sailing, wind surfing, flying, Frisbee dog competitions, motorcycling, beach volleyball and squash and playing in bands.
I was recognized by my company as the “Rookie of the Year”. Wanting to progress within the industry, I also completed the courses and graduated from the Realtors Institute of California. Completion of “GRI” is a nationally recognized achievement and an indication of my dedication to my career in the real estate industry. Only 6.7% of California Realtors have made the effort and achieved this professional designation.
It is said in real estate that getting the first few transactions is not the problem. You know if you have done your job well when people come back to you or recommend you to others. I believe that I have been successful because of my dedication to superior service and my commitment to be available to work for my clients. I am known within the industry for my professionalism and reliability.
It is my experience, integrity, reputation and marketing skills that has made me so successful in the Santa Barbara/Montecito real estate market and these are the same things that will allow me to assist you in any of your real estate needs.
Steve Epstein, CRS, GRI, SFR, SRES, CDPE
Senior Partner, The Epstein Partners
Keller Williams Realty Montecito/Santa Barbara
Steve@TheEpsteinPartners.com
www.TheEpsteinPartners.com
805-689-9339
Featured Restaurant of the Month – The Pour House Kapalua
This family run restaurant has quickly become a hot spot in Kapalua and my new favorite place to meet clients to enjoy great Italian food. When in Kapalua, be sure to swing by and say hi to Morris & Lara!
The Pour House Italian Kitchen & Wine Bar Kapalua
700 Office Road, Kapalua, HI 96761
808-214-5296
Mon-Tues 5-9pm Wed-Sun 12pm-9pm
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