Sunshine Takes the Bite Out of the Electric Bill
The year round sunshine on Maui has been a key part of enjoying the island lifestyle for both visitors and locals. The isolation of island chain is what makes it unique and also expensive. Previously the only energy source available was fossil fuels transported to the island, refined and used to provide electricity at some of the highest rates in the nation. It was only a matter of time before the “fun in the sun” lifestyle and the need for an alternative, inexpensive power source came together in the form of roof top photovoltaic energy.
Graph produced by Cost of Solar
The Hawaiian Legislation was critical in bringing about changes that would help local homeowners afford the upfront costs of installing photovoltaic cells. A single-family residential property owner can expect a credit of 35% of the photovoltaic system’s cost or $5,000 whichever is less. For multi-family residential property owners, the credit is 35% of system’s cost, or $350 per unit, whichever is less. They didn’t stop on the individual level, Hawaii Energy Tax Credits enacted Solar, providing corporations with an income tax credit of 35%. Finally, stronger efficiency standards were created for new construction development projects on island.
Recent installations of solar panels at Hokulani coming in nicely
The Hokulani Golf Villas community has been under construction throughout the photovoltaic revolution. Many of the owners in phase I never considered adding P.V. cells to their homes, now the panels can be seen throughout the community. In addition, the builder is offering new homeowners the option of identifying their homes for the cells prior to the completion of construction. This allows for even easier roof installation.
Hokulani Golf Villas For Sale
Last year alone, we sold 10 Hokulani Golf Villas in 2015; in 2014 we sold 8. Doing so has allowed our Sayles Team to accumulate tremendous knowledge in the neighborhood and the special nuances involved in buying a new construction Hokulani Golf Villas. It’s safe to say a decked out villa run close to $1.1-$1-2 million and above, while a standard unit with quality finishes will run closer to $1 million.
462 UMEKE ST #46
641 HIHIMANU ST #28
1137 UMEKE CIR #105
2177 HIHIMANU ST #121
See a complete list of Hokulani golf Villas For Sale
Maui Real Estate Specialist
There are several factors to consider when purchasing or selling a home. Our real estate team is here to support you with all the information you need on Maui’s changing real estate market. Contact us today to learn more about your options.
Aloha,
Erin Haywood R(S) on behalf of the Sayles Team 808-264-8037 Erin@DanoSayles.com