Ken Wong :: REALTOR (S)

March 15th was not such a good day for Julius Caesar.  Oh Brutus, how could you?  For some reason, that line from William Shakespeare’s Julius Caesar has never left me.

South Kihei, Wailea and Makena’s real estate market has been quite good for the first half of March.  My open houses are busy and showing property has been a little challenging but still fun.  One thing that I’ve noticed is the fact that as new properties come to market, in some cases they are coming to market at higher prices than what current inventory is priced.  This may be an indicator that our market is in the early stages of rebounding.

South Kihei, Wailea and Makena Sales Information

The above Excel sheet shows what has sold since the first of March.  As you can see, sales prices run the gambit from a two bedroom, vacation rentable condo at Pacific Shores for $215,000.  All the way up to the epitome of luxury for a double unit at Wailea Point for $5,300,000.

There are still great opportunities out there in South Maui’s real estate market.  Being able to find the best deals is not an easy thing but when one comes along you have to be able to act fast.  For example, I’m sitting open house at a new listing that’s priced to sell.  It is a one bedroom, one bath unit listed at Koa Lagoon for $389,000.  This unit has been used as a second home so there isn’t any rental history but it does have great views.

Koa Lagoon 505 View

Koa Lagoon 505 is listed with Coldwell Banker Island Properties, I can represent you as a Buyer’s representative but keep in mind that a dual agency situation will exist.  If you are in the area, I will be sitting open house there on a regular basis.  Stop by and say hello.

This post was published by Ken K.K. Wong REALTOR(S) an agent with Coldwell Banker Island Properties on March 18, 2012.

South Maui Real Estate Statistics

Now that leap year has come and gone, I’ve had the chance to research South Maui’s real estate market.  This is what happend in the past 29 days:

New Properties On Market: 69 with three properties being potential short sales and seven being bank owned properties.

Properties With Price Adjustments: 83

Properties Sold: 72 with twelve properties being short sales and twelve properties being bank owned propertis.

Properties Under Contract:

63 South Maui Condominiums went under contract.  38 are priced for $300,000 or less, 23 are priced between $300,000 and $1,000,000 and 2 are priced at $1,000,000 or more.

32 South Maui Homes went under contract.  17 homes are priced at $500,000 or less, 6 homes are priced between $500,000 and $1,000,000, 8 homes are priced at $1,000,000 or more.

Based on the statistics above, it does not matter whether you are looking for Kihei homes, Wailea ocean front condominiums or distressed properties, South Maui real estate is hot.  There is almost a property for anyone’s budget.  It’s just a matter of finding the right property and being able to act quickly.

This post was published by Ken K.K. Wong REALTOR(S) an agent with Coldwell Banker Island Properties on March 1, 2012.

Makena, Maui, Hawaii

South Maui Real Estate sales continue to be hot this February.  In the past 28 days the following took place in the South Maui real estate market:

89 New Listings: Price Range $115,000 for a two bedroom/ one and a half bath residential condo at Southpointe to $8,900,000 beachfront home in Makena consisting of four bedrooms and three and a half baths.

101 Properties had a change in their list prices.

80 Properties Sold: Price Range $110,000 for a Kihei Shores unit to a vacant lot in Wailea’s Maluhia subdivision for $7,300,000 ($14,500,000 list price).

The more interesting information is the statistics concerning the 200 properties currently under contract and in escrow.  Of the 200 properties 45% are properties listed for $300,000 or less.  Of the 200 properties, 133 are condominiums.  46 of the condominiums are vacation rentable condominiums.  11 of the 46 vacation rentable condominiums are ocean front listings.

This is the time to take advantage of the opportunities that present itself in South Maui’s real estate market.  If there is a property that you are interested in, don’t hesitate to make an offer.  You never know a seller’s motivation for selling their property.  Don’t wait too long because the properties priced right or in ideal locations don’t stay on the market for long.

This post was published by Ken K.K. Wong REALTOR®(S) an agent with Coldwell Banker Island Properties on March 1, 2011.

Ken K.K. Wong REALTOR®(S) with Coldwell Banker Island Properties

The first month of 2011 has started off well for Maui’s real estate market.  Especially for South Maui.  In the past thirty days 105 new properties came to market ranging between $110,500 to $19,500,000.  53 properties sold in South Maui in the month of January.  13% of the 53 were short sales and 34% were bank owned properties.  Sales prices range between $80,000 and $2,515,000.  Currently, there are 198 properties under contract and pending sale.

Coldwell Banker Island Properties put 70 properties under contract in January.  My advice to you is if you are selling price the unit right and get it sold.  That way you can move on to your next adventure.  If you are in the market to take advantage of low interest rates, falling list prices or you are from Canada and have a strong dollar, don’t be afraid to make an offer.  List prices are just suggestions.

This post was published by Ken K.K. Wong REALTOR®(S) an agent with Coldwell Banker Island Properties on January 30, 2011