One of my fellow colleagues pointed out the following article that appeared in US Today, on Monday, April 27th, entitled "Maui, Hawaii, home prices still high but falling". Please read the whole article here. Two different experts are quoted in the article, Terry Tolman, the REALTORS Association of Maui chief executive and Byron Gangnes, University of Hawaii economist. While using different words, they  both seem to agree that real estate prices are falling. Which means that prices are going down this very second. During a private coversation with Terry Tolman, he actually said that the article does not reveal the whole story. It makes a headline saying that prices are going down, but failed to also express his opinion that this is a perfect time to buy. Large inventory, sellers with va... 04/29/2009

Back in March, 406 Monarch, a bank owned property, was listed for sale at $1,700,000.  It was snapped up the first day on the market, and closed today at the asking price, "As Is", cash closing, with no seller's disclosures. Today, the property was re-listed at $2,300,000 (MLS 337416).  Asking prices for properties in Pineapple Hill currently start at $1,995,000.   In 2008, there was only one sale, which closed at $2,400,000.  To date, there have been three closings in 2009, with an average closing price of $2,125,000 and a median closing price of $2,325,000. Pineapple Hill is a lovely residential community surrounding the Kapalua Resort's Bay Course.  Many of the gracious residences have lovely ocean and island views.  The homeowner's association takes meticulous care of beautifully la... 04/28/2009

Whenever there is an event in the Kapalua Resort, I immediately run to my blog to let my friends and readers know about it.  This Friday, May 1st, the Kapalua Resort will celebrate May Day.  While people around the world celebrate the beginning of Spring, May Day is truly a special day in Hawaii.  Growing up here, dancing the hula was a pivotal part of my childhood, and on May Day, our elementary school would throw the most wonderful celebrations, with dancing, lei making contests, and mu'umu'u contests.  It was a special occasion, and each year, my mother would take me to Ka'ahumanu Shopping Center to find the dress, and we would stay up the night before making flower lei to give to friends the next day. While I have personal recollections of May Day from childhood, I realized that I d... 04/27/2009

aina nalu Sales Statistics Quarter 1 2009 Jan - Mar 2009 Studio Upstairs 1 bedroom Upstairs Downstairs 2/1 bedroom  Up & Downstairs 2/2 bedroom Upstairs  Downstairs For Sale 1 4 3 4 11 10 Sold 0 0 0 0 0 0  Asking Price High $212,000 $460,000 $465,000 $599,000 $625,000 $609,000  Asking Price Low $212,000 $325,000 $360,000 $455,000 $350,000 $335,000  Median Asking Price  $212,000 $378,500 $399,000 $539,000 $409,000 $472,000  Average Asking Price  $212,000 $385,500 $408,000 $533,000 $466,182 $476,667 Median Sold n/a  n/a  n/a n/a n/a  n/a  Average Sold  n/a  n/a  n/a n/a n/a  n/a  Median for Sale 4/21/09 $212,000 $378,500 $399,000 $589,000 $399,999 $434,000  Average for Sale  4/21/09 $212,000 $378,500 $408,000 $559,000 $440,444  $440,875 Even with 3 short sale listings priced well below or... 04/22/2009

The Ritz-Carlton Club and Residences, Kapalua Bay are on schedule to open May 31, 2009.  I had the opportunity to tour the Kapalua Resort's newest luxury condominium residences with clients just this last week.  It's exciting to see the progress of the Residences, as the grounds begin to take shape and the final finishes are being put on each residence.  For those that had trouble visualising the layout, it's now possible to get a true sense of the floorplans.  Each gracious three and four bedroom residence is oriented to capture the view.  Spacious great rooms and lanais promise to be the highlight of the residences, whether looking out to Kapalua Bay or to Molokai.  Of the remaining developer residences, one of my personal favorites is 2503.  This three bedroom features a den, and alo... 04/20/2009

Join your community members and volunteers from local organizations at Honolua Bay at 8:00 am for a stewardship event to celebrate Earth Day.  Honolua Bay is located just north of the Kapalua Resort, and is one of Maui's most treasured natural resources.  The Bay is home to fantastic coral reefs and marine life, making it an ideal snorkel spot.  When the surf is up, this is one of the world's best surf spots.  Maui Land and Pineapple and Community Work Day have coordinated a cleanup, the Honolua Store Lunch Wagon will provide refreshments.  Call 808-669-9062 to register.  04/19/2009

Aloha, I've just posted my latest Kapalua Resort Newsletter and Market Update.  Looking back at the MLS activity for the Kapalua Resort in the month of March, the Kapalua Resort Market: There were 12 new listings, ranging from a low of $650,000 for a two-bedroom Golf Villa one-bedroom to a high of $12,995,000 for a 13,705 sq. ft. estate home on over five acres in Honolua Ridge II. Of the new listings, one was a bank owned property: 406 Monarch, Pineapple Hill I, was listed at $1,700,000 and received an accepted offer the first day it was listed. The offering price was at approximately 70% of the average sale price of $2,358,333 for homes in Pineapple Hill since 1/2008. There have been 21 properties that have reduced their asking prices: 7 Bay Villas, 2 Golf Villas, 4 Ridge Villas, 1 Pin... 04/14/2009

I've been working with Kapalua Realty since 2000, and this is quite an unusual development in the Kapalua Resort market, which has seen very few foreclosures, and even fewer auctions.   Ridge Villa 2512, a one bedroom, two bath single level villa, has been listed at $495,000 in the MLS as an opening bid.  Currently, this is now the lowest priced listing at the Ridge, with the next lowest being 2122, listed at $740,000.  Per the listing agent's website:  "If you are the winning bidder, you agree to submit a Hawaii Association of Realtors standard form Purchase Contract offering to purchase this property at the winning bid amount, and you may include all typical contingencies in your offer and propose your desired terms such as closing date, deposit amounts, and others. Just as in a norma... 04/13/2009

The KapaluaWine & Food Festival has announced a "Buy Now and Save"promotion for family, friends, and the general public.  The 28th Annual Kapalua Wine & Food Festival celebrates "Carnival" with a four day extravaganza of some of the world's best food and wine.  This is one of my favorite events of the year, and I always try to get to the Grand Tasting and the Seafood Festival.  Last year, both events were held at the Ritz-Carlton Kapalua, which has just undergone a $180+ million dollar renovation.  This year, you'll also be able to see the new Ritz-Carlton Club and Residences, Kapalua Bay, which are Maui's newest luxury condominium community, scheduled to open May 31st on the site of the old Kapalua Bay Hotel. If you purchase select tickets between now and May 1, you'll receive a $20 di... 04/06/2009

The Kapalua Golf Academy is encouraging you to "Get the Family to Come Out and Play!"  The Academy is featuring a "friends and family" one-hour beginning golf lesson for up to four people at only $120.  For $200, the group will also get to play on the Village Walking Course, which is the new three-hole course with three sets of tees (making it an ideal place to polish those golf skills).  To make reservations, call: 808-665-5455 or visit the Kapalua Golf Academy, here in the Kapalua Resort. 04/06/2009

As a member of the Realtor's Association of Maui, I have been fortunate to be involved in their Wishing Well project.  Put in place by last year's President, the goal of the Wishing Well is to identify and address needs in our Maui, Molokai and Lanai public schools, through donations of time, supplies, and funds. The West Maui Wishing Well Committee and our local West Maui Realtors have been truly spectacular in this effort.  At our weekly broker's caravan, agents will often donate a dollar per person that comes to view their listing that morning.  We've helped raised thousands for Project Graduation, Book Funds, School Supply Funds, and the Lunch Fund.  In addition, through a generous $10,000 donation from a client of mine, we received enough money to build two computer labs at the Lah... 04/05/2009

The pulse of the Kapalua Resort real estate market is getting stronger, if the price is right.  A flurry of activity occurred when a bank owned property was listed in Pineapple Hill I at $1,700,000 As Is.  An offer was received immediately, and the property is now pending sale.  Due to the status of the property, this represents a decline over recent sales of homes in Pineapple Hill I which averaged $2,358,333 since January of 2008. There is also a notable price reduction of a one bedroom Golf Villa to $545,000 which is now the lowest listing price in the resort. Kapalua Resort 7 day market activity per the MLS: New Listings: 4         Low: $997,000  High: $2,695,000Price Reductions: 6   Low: $545,000  High: $5,900,000New Pending Sales: 1Total Pending Sales: 3Sales: 0 New Listings: MLS ... 03/29/2009

Last year the Kapalua Resort hosted it's first annual LPGA tournament.  After the event, I spoke with LPGA professionals, Pro-Am players and spectators who all felt it was one of the most fun and enjoyable tournaments they'd ever attended.  The Bay Course provides several gorgeous vantage points to watch your favorite players.  Spots are now available for the 2009 LPGA Kapalua Classic.  The Pro-Am is a fun, relaxed team event with a "best-ball" scramble format for all handicap levels.  For more information, please visit LPGA Pro-Am 03/24/2009

As construction of the Ritz-Carlton Club and Residences, Kapalua Bay nears completion, the Kapalua Resort is pleased to announce that repaving began on Lower Honoapi'ilani Road on Monday, March 23, 2009. Construction activities will include relocating a waterline, repaving the road from the Office Road intersection to the entrance of the Bay Villas, and replacing the curb and gutters on both sides of the road, and installing a 6' wide sidewalk on the makai side of the road. How this may affect residents and guests: Lower Honoapiilani Road will be closed from the Kapalua Place/Ironwoods/Oneloa Bay intersection to the Bay Villas/Residences at Kapalua Bay from March 23-May 11, 2009.  During this time, vehicular traffic will be rerouted to Kapalua Drive and pedestrian traffic will be rerout... 03/24/2009

"Save Honolua Coalition" was created by members of the community in an effort to preserve Honolua and put an end to future development in the area. To read the latest update about the works of this non profit organization, please click on the link below: http://campaign.constantcontact.com/render?v=001Fv9UhUgBhQEgOeTM4xMqWWUns2livs4zvPhNLcg6WPIAA2X-FvKlHXlsp0NXkRgC4ResJZyezIVAQwyk8YOwmwHFTGwLPA8a7oP5nP6uXNGYf1pRxOp36Q%3D%3D To learn more about Maui real estate, including Honolua area, please check www.westmauihome.com   03/20/2009

As of yesterday, Thursday, there is no more Superferry to connect the islands of Oahu, Maui and Kauai. This is not about the economy or the cost of gas, but rather a legal issue. Apparently, the Environmental Impact Studies that need to be done for any similar project, were not completed for the Superferry. There have been avid supporters of the Superferry, as there have been avid fighters against the Superferry. On the "pro" side, the arguments were: - more options for traveling between islands, for individuals; - lower costs for traveling between islands, especially for families; - additional business oportunities for companies based in Hawaii, wanting to expend on other islands. - a more fun way to travel between islands. On the "con" side, the arguments were: - significant environme... 03/20/2009

Maui Theatre ~ 'Ulalena We treated our visitors to a live show in Lahaina Maui that's sure to please... 'ULALENA.  The second time seeing this excellent Hawaii stage production was even better than the first time.  Even my 87 year old dad was impressed, and he's not easily impressed. As VIP ticket-holders we were treated to an after-show where we got to meet the players and hear their stories and feel their passion about life in Hawaii.  I recommend the VIP treatment because it's a nice touch, with the free drinks before the show.  You can take them in. The Maui Theater was built just for this show, and it opened about 10 years ago, when we saw the show the first time.  A Montreal Canada company is the producer of this creative endeavor..."the newest and most amazing stage production t... 03/18/2009

It was announced today that Maui Land and Pineapple has entered into an agreement to sell The Plantation Course to TY Management Corporation, a Hawaii based corporation. The KapaluaGolf Team, led by Gary Planos (senior vp of resort operations), will continue to manage the course, and there will be no changes to Kapalua Club membership through 2009. The Plantation Course is one of Hawaii's most famous courses, and is currently home to 2010 The Mercedes-Benz Championship, one of the PGA's most prestigious events. The sale of the Plantation Course resulted from an unsolicited offer that was attractive and compelling for the ML&P. The company has no current plans to sell The Bay Course, and plans for the Mauka Course are on hold due to current economic factors. For more information on news ... 03/17/2009

The Kapalua Wine and Food Festival is one of Maui's finest, and best attended, culinary events.  This year, the festival will be held from June 11-14, 2009, with a four day "Carnival" themed celebration.  Kapalua welcomes Fred Dame, Master Sommelier, as returning host of the event. Festival attendees have the opportunity to sample world class wines, meet celebrity chefs and Sommeliers, and sample some of Maui's finest cuisine.  Each year, a portion of the proceeds is donated to charities such as the Culinary Academy at MCC.   This is one of my favorite events of the year, and I always try to make it to both the Grand Tasting and the Seafood Festival, which both offer tapas style tastings.  I've always enjoyed the Grand Tasting, which used to be held oceanfront at the Kapalua Bay Hotel, ... 03/11/2009

I just came across this Segment by Tayfun King on BBC News which profiles Hawaii, and Maui in particular.  Mr. King covers the concern that over-development can hurt the islands.  As an example, a development in Makena, which has since been placed on hold, is featured.  As someone who grew up here on Maui, I naturally have mixed feelings about development. I personally wish that our state would embrace a more responsible development, providing the necessary infrastructure (roadways, sidewalks, hospitals, beach parks, recycling) and consider preserving more of our open space.  In addition, I question why the county has allowed larger time-share developments, yet has put up roadblocks for affordable housing.  I remember the days of going to Makena, when it took hours to get there, bouncin... 03/11/2009