South Maui Real Estate: May 11th
- Ken Wong
- May 11
- 1 min read
First of all Happy Mother's Day. The big news of the week is the big house on Keawekapu Beach is now under contract. It was originally sold a few years ago for $44M, came on the market for $65M and is now under contract for $28,560,000. Should the property close, this will be the highest residential sale for South Maui this year.
In other news, the Maui County Council will meet on May 28, 2025 to review Bill 9 which as you all know is Mayor Bissen's bill that wants to change about 7,000 units from short term rentals to long term rentals. The coconut wireless says five out of the nine council members are leaning towards killing the bill. But no one knows for sure. The Realtors Association of Maui has released a statement saying they oppose the Minatoya property changes siting income loss, tax revenue loss, job loss and property rights loss. Mayor Bissen's reaction to the statement is steadfast and he reiterated that the Minatoya conversion is only one part of a multi-pronged approach to provide affordable housing.
With regards to how the market is doing, it feels like people are still waiting for the shoe to drop. There is too much uncertainty in our market but deals are still being made. Here's how South Maui did this past week....
Should you have questions, please get in touch with me. Enjoy the rest of your Mother's Day.
Aloha,
Ken
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