Aloha From Maui! – Island Update September 2020
The Governor of Hawaii finally announced plans to allow travelers back to Maui without quarantining.
Starting October 15, 2020, we will begin accepting travelers with a negative Covid test result within 72
hours. The housing and stock markets continue to be the leaders in the economy. In August, showings and
pending sales remained at strong levels while housing inventory remained limited, continuing the competitive
bidding market we have seen in recent months. With the stock indexes at or near record highs as mortgage
rates remain near record lows, signs point to a busy fall housing market.
Featured Listing of the Month
SOLD
3 Kapalua Place
Kapalua, Maui, HI
.75 Acres | Oceanfront | Bedrooms: 6 | Bathrooms: 6.5 | 6,631 sf
$15,500,000.00
Kapalua Place, Maui’s Premier Beachfront Subdivision
KAPALUA BEACHFRONT – This is one of only 4 beachfront homes in Kapalua – A rare opportunity to own a stunning Island Contemporary architectural masterpiece by award-winning Hawaii architect, Jeffrey Long. Situated on 28,000 square feet of pristine beachfront land, this Hawaiian Retreat retains its individual allure and distinction yet captures the true new essence of the new island style.
Ok, now Nature’s just showing off
Back by popular demand! More awesome pictures from South African photographer, Steve Burns, who has agreed to allow me to showcase a few of his amazing South Africa photos. Steve and I went to school together in Westville, near Durban in South Africa.
You can contact Steve for more stunning photos by Clicking Here
Market Update – September 2020
New Listings decreased 4.4% for Single Family homes but increased 97.0% for Condominiums. Pending Sales increased 26.7% for Single Family homes but decreased 20.0% for Condominiums. Inventory decreased 25.9% for Single Family homes but increased 53.9% for Condominiums. Median Sales Price decreased 3.2% to $799,000 for Single Family homes but increased 18.9% to $591,000.
Condominiums.
Days on Market decreased 5.1% for Single Family homes but increased 45.0% for Condominiums. Months Supply of Inventory decreased 18.0% for Single Family homes but increased 97.4% for Condominiums
For a comprehensive market update select the Monthly Market Statistics link below.
Community Service Spotlight – Maui Prep Honors Dean and Michelle
Maui Prep honors Dean & Michelle Otto
Maui Preparatory Academy is pleased to announce they have recently honored a long-time and very dedicated Maui Prep couple, Dean and Michelle Otto, who have surpassed $500,000 in donations to the independent day school in Napili, West Maui. Dean and Michelle were presented with a commemorative bronze plaque adorning the Administration Building as well as one in the newly finished Bozich Center for Athletics and Performing Arts. The Otto Family has a long history of involvement at the school, including Dean serving as President of the Board of Trustees for the last 8 years.
Dean and Michelle are not new to West Maui. Michelle grew up near Makawao with family still residing Upcountry. Dean moved to Maui in 1989 after attending the University of Oregon and immediately began a career in real estate. He joined the Board of Trustees in 2006 when Maui Prep was still in its infancy, proudly serving on the Board for 14 years. “We did the heavy lifting in the early days when the school’s future was less certain,” Dean explains. “We opened the first school year with 18 students and $4,000,000 in debt…not exactly the ideal scenario, but we made it work through the pure grit and determination of a dedicated West Maui community.”
For nine years, Michelle was essential to the success of Maui Prep’s Performing Arts Program. She diligently worked as the costume and set designer as well as assisted in the production of the performances. According to Director of Performing Arts, Vania Jerome, “Michelle was my right-hand in all of the early performance related programs at Maui Prep. The dedication of Michelle and her family is unparalleled. She created a legacy that has been taken on by other families, ensuring the elevation of Maui Prep’s Performing Arts Program.”
Dean and Michelle’s children, Troy (class president in 2013) and Cassidy (class president in 2018), are both Maui Preparatory Alumni and currently living on the West Coast. Troy graduated from the University of Oregon and is working as a realtor in Seattle, while Cassidy is in the nursing program at the University of Portland
“The Otto Family continues to be among the most dedicated families of Maui Preparatory Academy and we are very grateful for their support,” said Jim Bozich, current Board of Trustees President. “Families like the Otto’s have made Maui Preparatory Academy into the school it is today and their generous gifts ensure that we can educate children for generations to come.”
Client Testimony – Lorie Buscemi Farrar
“Aloha friends & Family. I wanted to take time to give a shout out to the BEST Maui real estate agent & our dear friend, Dean Otto of Keller Williams Reality. We were fortunate to have met Dean years ago and have since completed six real estate transactions with him in Maui. Dean is a Maui Trophy himself with property sales exceeding over $200,000,000. Additionally Dean is so kind, honest & extremely knowledgable. One of our transactions was challenging & he exceeded our expectations beyond measure. Dean is the one to contact if anyone is looking to buy here in Maui!”
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