“Should I be selling right now?” This is top of mind for many in Maui at the moment where the price of real estate is seeing record highs.
It’s a great question and something many owners are contemplating even if they haven’t any reason to sell other than the incentive the current market is presenting them with. Some call it a “sellers market,” this is what I call a “name your price” market!
With the spotlight shining brightly upon Maui real estate, especially as a result of Human Resource departments on the west coast shoo-ing away their employees in the COVID era, the promotion of “working remotely” / work-from-home approach has opened the flood gates to Hawaii seeing employees act on this very credo and plant themselves in Maui. Sunshine, wi-fi and a deck chair… voila, the new home office!
Opportunity for Buyers & Sellers
There is good news for both sellers and buyers here. If you own and are thinking about a life change, now is a superb time to launch. But hang on, it also means having somewhere to land. So definitely do your homework and pave the way for what’s on the other side of selling your Maui home. You are in an opportune moment where you are likely to see significant increase on what you may have paid for your property, even if it was only a few years ago.
We see cycles in Hawaii and usually it is a generational cycle where once couples begin to see grandchildren come along, they may well take the opportunity to move closer to family. In which case, this is a perfect time to sell and capitalize on the appreciation that your property is likely to have seen from this frenzy in the market. With that wave of sellers leaving the Maui market, we see buyers, like the remote worker, slide in and set up in their place.
I believe there is still opportunity for buyers in a sellers market, especially in Maui. As well as the desire for living in paradise (albeit, it comes with a price tag), if you are inclined to buy something, delay is not a tactic I recommend in this market. Price point, by all accounts, seems to be continuing to rise, not least with the demand yet to come from the international buyer who we have yet to see return to the islands so far kept at bay with the pandemic restrictions on travel.
Looking for a Home on Maui?
I hope this gives you something to chew on. If you are thinking of selling, I’d love to chat with you and let you know what I can do to help you with your plan of action. If you are thinking of moving or buying a second home in Maui, opportunity is knocking. I can’t tell you the number of people I’ve met who tell me “I wish I had bought 30 years ago, even 5 years ago.” We all have a missed opportunity story. Let’s change the narrative and make it happen now. I’m here as a full time Realtor with Hawai’i Life living my best life because I too chose Maui 25 years ago…and it has been a blessing.