Ken K.K. Wong Realtor

It is already July 1, 2010 and the fourth of July falls on the weekend.  Yipee!!!  There are two major beginnings that started today.  The first is that it is now illegal to use your cell phone while driving, unless you are using a hands free device.  For people like my wife, who only has her learner's permit, you are not allowed to use your cell even if you have the hands free device.  If you get caught using your phone, the fine is $100 and if you get caught a second time it is $250.  Wow!

The other major beginning that happened today is that the new Maui County Property Tax rates take effect and they are as follows:

Improved Residential (Second Home) went from $4.85 to $5.00

Apartment went from $4.55 to $5.00

Commercial went from $6.25 to $6.25

Industrial went from $6.50 to $6.50

Agriculture went from $4.50 to $5.00

Conservation went from $4.75 to $5.00

Hotel & Resort went from $8.20 to $8.30

Time Share went from $14.00 to $14.00

Unimproved Residential went from $5.35 to $6.25

Homeowner went from $2.00 to $2.50

Commercialized Residential a new category is $4.00

Maui County Property Taxes are determined by the appraisal value of the property and it is per $1,000 of net taxable assessment value.

In terms of South Maui real estate, our market experienced 133 new properties on the market, 108 price reductions and 65 sold properties in the past thirty days.  As of today, there are 185 properties pending and under contract.  There are 178 home for sale in South Maui, 18 are being listed as short sales, and 11 are bank owned properties.  There are 485 condo's for sale in South Maui, 36 are being listed as short sales, and 18 are bank owned properties.  The number of vacant land parcels for sale in South Maui is 72.  When it comes to a great deal for a vacation rental, I still believe that the deals are at the Maui Banyan Resort.  Q101 a two bedroom, two bath listed for $385,000 and H114 a one bedroom, two bath listed for $289,000 are not distressed properties.  If you need more information about these two properties or any other properties that may be of interest to you let me know.

This post was published by Ken K.K. Wong REALTOR (S) an agent with Coldwell Banker Island Properties on July 1, 2010 at 4:49 pm 

2010 has started off on the right foot.  One savvy buyer closed on a fantastic piece of property today.  This happy home owner was able to purchase a four bedroom, four bath, 4721 square foot home located within a five iron of Makena's black sand beach for $6,189,000.  You say that does not sound like a great deal but you forgot to consider the list price was $9,200,000.  I guarantee that home will go up in value.  Mark my words.

$6,189,000 is still a little out of your price range?  There are many deals out there right now.  Some of the better deals are located at South Maui's popular vacation destinations such as the following: 2bd/2ba at The Maui Banyan for $355,000, a 2bd/2ba in Kamaole Sands on the top floor of building ten for $625,000 or a 2bd/2ba Royal Mauian right at the waters edge listed for $1,249,000.  Other deals in the residential condominium market are: 1bd/2ba in one of Wailea's most desirable residences Wailea Palms for $695,000 or a 2bd/2ba golf course residential condo at Hokulani Golf Villas listed for $1,149,000 and that's not including the $200,000 of the list price from the developer.  Keep in mind that not too many listings are selling for full price these days and that makes the listings above an even better deal.

I left out the deal of the century in regards to Maui real estate.  If you want to find out what it is, get in touch with me.  

This post was published by Ken K.K. Wong REALTOR (S) an agent with Coldwell Banker Island Properties at 9:07 pm on January 11, 2010 

2010 is a new year and a new decade all in one.  The duldrums and negativity of 2009 is behind us and it is a new beginning.  Why not treat yourself for all of the hard work you have done and buy yourself a great Kihei vacation rentable condo?  The picture above is from Hale Hui Kai Unit 210, which is conveniently located on Keawakapu Beach.  This two bedroom condo is in need of some updating but it is heavily booked and priced right at $1,150,000.  Remember, ocean front condos are a rare opportunity and there isn't any new ocean front property here on Maui.  You have to go over to the big island to get the newest land.  If you need more information, drop me a line.

This post was published by Ken K.K. Wong REALTOR (S) an agent with Coldwell Banker Island Properties on January 2, 2009 at 11:15 pm. 

2009 will go down in history as a year to remember.  For most of the country it will be remembered as a year that experienced 140 banks closing its doors, a year where several name brand stores went out of business, and a year that saw millions of Americans loose their jobs.  Americans are known for their perseverance and towards the end of 2009 we started to work our way out of the recession.   The hope of a new Presidents and programs like the cash for clunkers and the first time home buyer incentives started our climb out of the black hole.

Maui's real estate market took a hit just like other parts of the country.  The star in our corner was the fact that this is still Maui and it is still one of the most desirable resort destinations world wide.  Maui's real estate market was propped up buy our friends to the north, the Canucks.  Last winter, the Looney was on par or above par due to the fact that it is tied closely to the price per barrel of oil (which reached a high of $148 per barrel).  Currently, the price per barrel is above $78 dollars so the Looney is hovering around the $0.95 mark.  That translates to it being a fantastic time to take advantage of the drop in Maui real estate prices, low interest rates and reduction in inventory.  As far as South Maui real estate is concerned, the statistics are as follows:

• Total amount of homes, condos and vacant land sold in 2009 in South Maui: $410,647,023
• Total amount of homes sold in South Maui: 166 homes for a total of $143,545,068  
  • 18 homes sold in Wailea/Makena: Average Price $2,511,666  Median Price $1,525,000
  • 12 homes sold in Maui Meadows: Average Price $791,666  Median Price $687,500
  • 35 homes sold in South Kihei: Average Price $1,057,041  Median Price $750,000
  • 101 homes sold in North & Central Kihei
• Total amount of condos sold in South Maui: 358 condos for a total of $210,679,465
• 79 of the 358 condos sold in South Maui were ocean front condominiums
  • 165 of the condos sold in South Maui were residential condominiums (six months or longer rental terms)
  • 193 of the condos sold in South Maui were vacation rentable condominiums (rental terms of less than six months)
    • 53 of the 193 South Maui vacation rentable condos were sold in Wailea & Makena
    • 71 of the 193 South Maui vacation rentable condos were sold in South Kihei
    • 69 of the 193 South Maui vacation rentable condos were sold in North & Central Kihei, Maalaea 
• Total amount of vacant land parcels that sold in South Maui: 22 lots for a total of $56,422,490
  • 18 lots in Wailea & Makena
  • 4 lots in Kihei

Why not start off 2010 the right way?  If you are considering purchasing Maui real estate this is a fantastic time to act on that impulse.  Do it now before interest rates go up, before inventory shrinks, or as much as I'd hate to say it before the American dollar gains in value.

This post was published by Ken K.K. Wong REALTOR (S) an agent with Coldwell Banker Island Properties on January 1, 2010 at 7:40 pm. 

The eleventh month of 2009 is officially over.  Maui's real estate deals are all over the place but you must be quick to make an offer.  For example there was a two bedroom, two bath lock off unit that came to market over at Grand Champions in Wailea for $384,900.  Within four days it had multiple offers and was under contract. It seems the mentality of the buyer has changed from lets see what happens in six months to find me something to buy right now.  I've been saying it for a while now, but Maui is on sale!!!

For the month of November, South Maui's real estate market had 111 new listings come to market ranging from $129,900 two bedroom residential condo at Southpointe to a multi million dollar luxury estate in Makena listed for $11,888,000.  There were also 107 price reductions and 53 sold properties in South Maui.  As of today there are 175 properties under contract and in escrow.  Maui will always be a great destination.  It does not matter if you are looking for your primary residence, a second or third home or a piece of land to build your dream home, Maui is like no other.  Life is too short to not call Maui home.

This post was published by Ken K.K. Wong REALTOR (S) an agent with Coldwell Banker Island Properties on December 1, 2009 at 1:50 pm. 

As of today, November 17th, there are 165 properties under contract in South Maui.  That has to be the highest number of pending sales I've seen in a long time.  Why?  Interest rates are still low, prices are dropping and I think that people are aware of the fact that we are at the bottom or close to the bottom of the market.  More recently, there has been a substantial amount of sales in South Kihei's most popular rental complexes.  Since the first of the month, 3 units closed at Maui Banyan, one unit closed at Kamaole Sands, one unit at Maui Kamaole, and one unit at Kihei Surfside.  Wailea also experienced 2 sales at Grand Champions and one at The Wailea Town Center.  Needless to say, there's a buzz about town concerning Maui real estate ownership.

 This post was published by Ken K.K. Wong REALTOR(S) an agent with Coldwell Banker Island Properties on November 17, 2009 at 9:12 am. 

What a fantastic month October turned out to be this year.  Coldwell Banker Island Properties as a whole put 65 deals together and into escrow.  Compared to last years 29 for the month of October, what a turnaround.

Currently, there are 143 pieces of real estate under contract in South Maui, ranging in prices from $135,000 residential condo at Southpointe to a $5,800,000 home located near Kamaole Beach Park I.  Of the 143 units under contract, 88% of them are listed for $1,000,000 or less.   35% of those are residential condominiums, 24% are vacation rentable condominiums and the rest are homes.  Interest rates are still at all time lows.  Inventory is still shrinking.  This is a fantastic time to buy Maui real estate.  In the nine years that I've been a REALTOR, this is the first time that Maui real estate has been seen as a value as opposed to a luxury.

 If you are thinking about selling your home or condo, this is the time to get your real estate on the market.  It is very important to price your property at a price point the market is willing to pay for your property.  When I look through the recent sold properties here in South Maui, they seemed to have been priced at or below comparable sales.  Price is the number one factor that people are asking about from my experiences at open house.  Basically, people are looking for value.

High season is a month away.  I've spoken with people from different condominium complexes and hotels in Wailea.  It looks as if Maui will be business as usual.  Maui continues to be rated as one of the top island destinations in the world.  Judging by past markets, there should be an influx of new/old real estate onto the market because sellers want to take advantage of the amount of people on island.  Buyers should also take advantage of the low interest rates, amount of inventory, and falling prices.  Maui is on sale!!!

This post was published by Ken K.K. Wong REALTOR(S) an agent with Coldwell Banker Island Properties on November 5, 2009 at 4:00 pm.

On Friday the Canadian Dollar hit its all time high for 2009.  At $0.958, this is great news for my friends from the north.  The timing is perfect for Canadians who want to purchase Maui real estate.  Maui's real estate inventory has shrunk from 36 months worth of inventory to about 8 months worth of inventory in the past six months.  This is due to the fact that people realize that there is tremendous value in Maui's real estate market and they are buying.  Sellers who did not really have to sell have taken their properties off the market because they don't want or need to give them away.  Why sell when you don't have to.  This leads me to believe that the properties on market are sellers who either are in the need of cash or they own too much real estate.  In the past week, 32 properties in South Maui have reduced their list prices.  This is the perfect time to take advantage of Maui being on sale, especially if you are from Canada.  

This post was published by Ken K.K. Wong REALTOR(S) an agent with Coldwell Banker Island Properties on October 11, 2009 at 3:01pm. 

This is the fantastic Infinity edged pool over at Hokulani Golf Villas in Kailea Maui.  Hokulani Golf Villas is one of Kihei's newest golf course subdivisions.  The single family residential condominiums are nestled among the greens and fairways of Kihei's Elleair Golf Club.  Spectacular ocean views and golf course views are not uncommon.  Currently, there are 8 units in the MLS.  Since the last time I mentioned Hokulani Golf Villas 4 units went under contract.  There are still 2 units left that qualify for the developers special discount of $200,000 on any of the developers units listed.  Hokulani Golf Villas is an ideal place own as your primary residence or Maui vacation home.  Prices range from a two bedroom floor plan at $999,000 to a three bedroom floor plan listed for $1,439,000.  To get an idea of Hokulani Golf Villas at the Elleair Golf Club in Kailea go to www.HokulaniHomes.com.

This post was published by Ken K.K. Wong an agent with Coldwell Banker Island Properties on October 5, 2009 at 8:21 pm. 

What a difference a year makes.  It was a year ago that the United States economy experienced a major downturn.  September 2008 was a horrible time for South Maui real estate.  Coldwell Banker Island Properties as a company only had three transactions.  365 days later, Coldwell Banker Island Properties had 62 transactions for the month of September.  There are people who believe in Maui real estate and they are taking advantage of low interest rates and of a market that is at the bottom or very well near it.  

Currently, there are 137 properties under contract in South Maui.  They range in price from a $136,000 condo in Kihei Villages to a $7,900,000 ocean front home in Kihei.  Of the 137 properties, 21 properties are listed for $1,000,000 or more.  Many opportunities exist in Maui real estate.  One of the one's I would recommend for my mom to buy would be a piece of vacant land across from one of my favorite places in South Maui.  That would be Papa'anui.  Papa'anui is a seven lot luxury subdivision located on a bluff right across from Makena Landing.  Your views would be similar to the picture above.  Not bad of a view, huh?  There are only two lots left at Papa'anui.  They are about half an acre and are listed for $1,375,000 and $1,395,000.  Mark my words, in five years these two lots will be worth the investment.  What are my other best buys in South Maui real estate?

This post was published by Ken K.K. Wong REALTOR(S) an agent with Coldwell Banker Island Properties on October 2, 2009 at 3:47 pm. 

Today I held my open house at one of Kihei's best vacation resort property: The Maui Banyan Resort.  A gentleman from Canada came by and proclaimed that this was the best buying opportunity he has seen in the Maui real estate market in ten years.  It was so refreshing to hear that coming from a person who knows Maui and was speaking from first hand experiences.  In the past week, three ocean front properties went under contract and one closed.  Three more South Maui ocean front properties are rumored to go under contract this week.  People who are in the know, feel that this is a great time to add some Maui real estate to their portfolios.  But, you don't have to be one of the super rich to afford Maui.  If you are looking for a two bedroom vacation rentable condo in South Kihei there is one listed available.  If you are looking for a brand new golf course second home for under $1,000,000 there are two options left for you.  Even if you are looking for a starter condo for under $200,000 there are a few for you too.  South Maui's real estate inventory is starting to shrink.  Interest rates are still low (5% earlier today).  Take advantage of this natural slow period in Maui's tourist season and add Maui to your portfolio.  You will thank me in five years.  Ask me for my best deals in South Maui.

This post was published by Ken K.K. Wong REALTOR (S) an agent with Coldwell Banker Island Properties on September 28, 2009 at 10:00 pm. 

Today was a fantastic day to be on Maui.  The sun was shining and the weather was sweet.  A fellow from Canada came into my open house today proclaiming that this was the best buying opportunity for Maui real estate he has seen in ten years.  It was so refreshing to hear that coming from a person who knows Maui and who is speaking from experience.  I told him that our country is working out of the depression and that the future is bright.  Turn the channel to CNN or Fox News and you will hear positive news.  Even though we are in the slowest season on Maui right now, reports that August tourism figures were flat for the month.  That is such great news since previous months were all declining numbers.  I believe that the upcoming high season will be great.  In terms of Maui real estate the gentleman was right.  Our inventory is shrinking, interest rates are at 5% and sellers are ripe for offers.  In the past week three of South Maui's ocean front estates went under contract, one closed and there are rumors that three more will go under contract sometime this week.  High end buyers are taking advantage of some great opportunities.  You can do the same.  If you are looking for a two bedroom vacation rentable condo in South Kihei for under $325,000, there is a condo for you.  If you are looking for a great second home on the golf course, there is a product for you (two left with $200,000 off list price).  There is even a residential condo listed in South Kihei for under $200,000.  Maui real estate is on SALE!!!  Ask me for the best deals in South Maui

This post was published by Ken K.K. Wong REALTOR (S) an agent with Coldwell Banker Island Properties on September 28, 2009 at 9:41pm Hawaii Standard Time. 

2803 Ohina Street   List Price: $699,000 on May 1, 2009   MLS Number: 336368

This home is located in South Kihei just up the street from Kamaole Beach Park III.  2803 Ohina Street is a three bedroom, two and a half bath custom home that has great curb appeal and is a corner lot.  The home's atmosphere is open and airy.  It features a large, covered lanai perfect for outdoor dining or for relaxing.  The home has a decent sized yard and room for extra parking.  2803 Ohina Street is in the Kamalii school district for those of you who have children in elementary school.  It really is a fantastic South Kihei Home.

2803 Ohina Street is listed with Coldwell Banker Island Properties.  I can represent you as a buyer's representative for this property or any other South Maui real estate properties.  In the case I do represent you in a transaction for 2803 Ohina Street, a dual agency addendum will be made a part of the purchase contract.

This home is located in Piilani Village III, just behind Safeway in North Kihei.  The address is 214 Luakaha Circle.  This home is a four bedroom, three bath home that was built in 2002.  It does not back up to the highway and is an excellent opportunity for a first time home buyer with a larger family.  The list price is $440,000 and it is priced as one of the lowest in the neighborhood.  The home has a central air conditioning system and has a solar water heater which will help on the electricity bill.  Don't let this opportunity pass you buy.  This is the best buy for a North Kihei Home.

214 Luakaha Circle   List Price: $440,000 on May 1, 2009   MLS Number: 337395

214 Luakaha Circle is listed with Coldwell Banker Island Properties.  I can represent you as a buyer's representative for this property or any other South Maui real estate properties.  In the case I do represent you in a transaction for 214 Luakaha Circle, a dual agency addendum will be made a part of the purchase contract.

If you have any questions about these two fantastic pieces of Maui real estate, feel free to contact me.  I will be happy to get any additional information for you and any other pictures needed for you to make Maui homeownership a reality.

Ken K.K. Wong REALTOR (S)   Coldwell Banker Island Properties   Direct: (808) 283-2891   Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

This post was posted on May 1, 2009 at 3:21 pm by Ken K.K. Wong REALTOR(S) an agent with Coldwell Banker Island Properties

Ken K.K. Wong REALTOR (S)   Coldwell Banker Island Properties   Direct: (808) 283-2891   Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

The Hale Pau Hana Resort is located right at the edge of Kamaole Beach Park II.  Hale Pau Hana Penthouse 32 just closed for $1,947,600.  The unit is a three bedroom, three and a half bath unit consisting of 2824 square feet of living area with fantastic ocean views.  This listing was a cash deal and it goes to show that there are some fantastic deals out there that people are taking advantage of and buying Maui real estate.  What other deals are out there?  Check out my South Maui Real Estate Best Buy page and you will find out.  If you have any questions about those properties or any others, feel free to email me at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

This post was published on April 20, 2009 at 1:33 pm by Ken K.K. Wong REALTOR(S) an agent with Coldwell Banker Island Properties.

Maui Real Estate Is On Sale!!!  Interest rates are still low, inventory is shrinking, the Canadian Dollar is at $0.96.  You have worked hard all of your life.  You deserve to own your piece of Maui real estate.  

If you have a particular interest in vacant land, homes, residential condominiums, or vacation rentable condominiums in South Kihei, Wailea, Makena, or Maui Meadows and you want to pick my brain, please send me your requests.