Today’s real estate market in Maui is like the heating bill in winter and electric bill in summertime, it is rising! But stay with me, here’s the good news.
Many years ago when I was showing my clients some beautiful homes in Wailea and Makena, we viewed an oceanfront home where the listing agent literally pulled my clients to one side and said to them conspiratorially, “I don’t mind if you buy this house or another one, but just buy something in Maui!” Sage words, especially in hindsight where prices were tempered by an abundance of inventory at that time.
In 2021 we saw new records hit and even exceeded in the number of properties transacted and in the prices paid for them. In a more traditional market, we admittedly have greater choices with more generous inventory but demand for Maui is strong, not least coming out of a pandemic era. The period of pause has allowed for people to reassess their priorities. It is reported that Hawaii is and has been the safest place during COVID. Not surprisingly, this has led to a surge in activity in the real estate market where people are choosing to live their best life now.
On the Market in Maui
Here’s where numbers speak loudest. Today’s statistics reflecting all of Maui County (which includes Lana’i and Molokai) show us the following results:
I know you have been waiting for the good news that I promised to you at the beginning of this blog.
Opportunity on Maui Real Estate
There is still time and opportunity in the Maui real estate market. The strategy I would employ today would be to do as my colleague recommended many years ago. Get your proverbial foot in the door, your toes cemented in the sand, and buy something in Maui real estate.
There are great possibilities for buying a condo, whether it be for personal occupancy, short or long term rental usage, or a single family home that lands you in Maui from which you can unpack your suitcases and discover the lifestyle you wish to lead, making a lateral or upwards move at a later time. Vacant land at the moment is the least competitive as far as available lots and this presents you with the time frames for buying now and building later if indeed you have Maui on your radar for a long term goal.
Demand for Rental Property
Possibility is the key here. If you aren’t quite ready to move to Maui but wish to secure a property, I am happy to help you with alternatives, again, in land, or, for example, a condo that you may decide to rent out. We have a huge demand for property needed for rent. I will have a follow up blog to tell you more about renting your Maui property and property management to streamline this option. You can call or email me for ready help with navigating your options to allow you to live your best life now.
Always with Aloha!
VERONICA VILLARREAL
February 3, 2022
Hi I would like to see available land in Oahu or big island if you have access to these. Condos in Oahu would be great to look at also. Thank you ~Veronica