State Wide Data Indicates 42% of Maui Real Estate Sales Go To Nonresidents

Hawaii Data Book: Maui Focus

This past week, The Department of Business, Economic Development and Tourism (DBEDT) released their 2016 edition of the “State of Hawaii Data Book”.

Essentially, the Data Book is an annual report that provides state wide statistics on a variety of Hawaii’s industries: real estate, population, education, environment, economics, energy, business enterprises, government, tourism and transportation. The Data Book has more than 800 data tables and allows readers to interpret the data in different ways.

Maui Sunsets never get old! 

According to DBEDT Director, Luis P. Salaveria, “The Data Book has been around for 48 years and provides useful information related to Hawaiʻi in a variety of areas including research, business planning, and policy design. The Data Book is the most popular item on the DBEDT website.”

The state does a fantastic job in keeping the data relevant and useful for potential users; they spend a lot of time and effort in make sure the data is managed and presented correctly:

“Though we compile the book around the middle of August every year, we update the tables year round,” said State Economist Dr. Eugene Tian. “We also try to add any valuable data in the book when they become available and abolish data when obsolete.”

2016 Maui Real Estate Statistics

There were 2,576 home sales in Maui County in 2016. 1,428 were local buyers, 1,077 were mainland buyers, and 71 were foreign buyers. The average home price for locals in 2016 in Maui County was $537,552; $879,948 for mainland buyers; and $1,084,852 for foreign buyers.

As a side note, Maui has the highest median sales price of condominium sales in the state, and has been the highest since 2008. The median condo sales price in Maui County in 2016 was $415,000. Maui’s condo market is so desirable because a large majority of condo complex’s in visitor oriented (West & South Maui) areas allow for short term vacation  rentals.

2016 Maui Condo Sales Data

  • Number of Maui condos sold in 2016: 851
  • Average sold price: $712,222
  • Highest priced unit sold: $6,475,000
  • Lowest priced unit sold (fee simple): $74,000

Highest Priced Condo Sold by the Sayles Team

The Dano Sayles Team is all about putting our “clients first” in everything we do at RE/MAX Lifestyle. Creating win-win scenarios, and having life long clients is our mission. Ho’olei Villa 52-1 is hands down THE premier location in the entire community! When you get up to the 4th tier of the Ho’olei community, you can see clear over the Grand Wailea Resort and the Four Seasons Wailea. With the 180-degree view, gorgeous sunsets are guaranteed year round.  The 3 bedrooms in this residence are like a retreat, each including an en suite bath, roomy floor plan, and plush designer furnishings.

 

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2016 Maui Residential Sales Data

  • Number of Maui homes sold: 1076
  • Average sold price: $968,068
  • Highest priced unit sold: $18 million
  • Lowest priced unit sold: $165,000

Highest Priced Home Sold by the Sayles Team

3886 Wailea Ekolu Place represents the very best that the Wailea Golf Estates has to offer.  This home is absolutely incredible. Wide open ocean views, custom design, top of the line finishes, 5000+ square feet of living space, diverse outdoor space, and a soothing pool to cool off in on warm Wailea days.  The craftsmanship and quality of construction featured throughout is pretty amazing. This property is truly a one of a kind place to call home.

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Vacation Rental Condos For Sale by the Sayles Team

Closest to the Beach: Kihei Alii Kai Villa A403

Kihei Alii Kai, villa A403  is a clean and well cared for 1 bedroom, 1 bath unit with vaulted ceilings, and a bonus loft space perfect for a 2nd bedroom or even a 2nd living area. The lofted space is a very spacious area that will come in handy for accommodating larger vacationing groups. The kitchen is well designed, flows nicely into the great room area and onto the outdoor lanai. You’ll love sitting on the large lanai with your favorite beverage as the trade winds keep you cool!

Listed at $389,000

 

Lower Village Wailea Ekahi: Unit 18D

Wailea Ekah 18D  is a beautifully remodeled unit with fantastic upgrades bumping the unit up into the $1.8 million range. The kitchen is one of my favorite rooms in the house because of the lovely backsplash, simple elegance, and custom finishes. The lanai is one of the most serene parts of the condo, overlooking the deep blue Pacific and onto West Maui. The 2 bedroom, 2 bath floor plan features two spacious master suites providing for additional privacy.

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Priced Right: Ho’olei Villa 24-1

Ho’olei Villa 24-1  is a fantastic unit with a very attractive list price. The unit’s 300+ sqft of outdoor space encourages residents to get outside and enjoy Wailea’s perfect year round weather. The upstairs lanai is complete with an outdoor cooking area and furniture set to relax and enjoy the warm Wailea evenings.

Listed at $2,385,000 

374045-8 374045-7

Contact a South Maui Real Estate Specialist


Our oceanfront Sugar Beach Resort listing

Please interview me to be your trusted Maui Real Estate and Lifestyle Advisor. I was born in South Maui and raised on the island, and spend a considerable amount of time to inform my clients about the best deals currently on the market. Please do not hesitate to call me for your Maui real estate needs. I am more than happy to assist you in your home search.

Mahalo,

Anthony Sayles

(808) 280-6532

Anthony@DanoSayles.com