Maui Real Estate Trends To Watch In 2019

Maui Real Estate In 2019

Wailea And Makena Real Estate Update

Overall, the Wailea and Makena market improved in 2018 in terms of total sales volume. Part of the large uptick can be attributed to the new construction projects like Keala O Wailea that made up a little more than 33% of all Wailea condo sales.

With rising interest rates and fear over a leveling off real estate market, it will be interesting to see how buyers and sellers both react amid the market concerns.

Gorgeous views from an oceanfront Wailea Point villa sold by the Sayles Team

Wailea and Makena Condo Market Update 2018

New construction Keala O Wailea villa sold by the Sayles Team

  • Number of Wailea condos sold: 214, up from 141 in 2017
  • Average sold priced: $1,528,957, down from $1,695,956 in 2017
  • Highest priced condo sold: $10 million, up from $8.57 million in 2017
  • Lowest priced condo sold: $528,000, down from $550,000 in 2017
  • Median sold price: $1,165,000, up from $1.15 million
  • Total sales volume: $327,196,895, up $239,129,828 in 2017

Wailea and Makena Residential Market Update 2018

Remodeled Wailea Golf Estates home sold by the Sayles Team

  • Number of Wailea homes sold: 34, up from 28 in 2017
  • Average sold priced: $3,173,323, down from $4,480,996 in 2017
  • Highest priced home sold: $10.5 million, down from $15.5 million in 2017
  • Lowest priced home sold: $1,095,000, up from $1 million in 2017
  • Median sold price: $1,805,000, down from $2.24 million
  • Total sales volume: $107,893,00, down from $125,467,888 in 2017

County’s First-Time Buyer’s Program Accepting Applications

Maui County recently launched its first time home buyer down payment assistance program. It is aimed at helping low- to above-moderate income first-time homebuyers get a down payment and/or closing cost help. 

Administered by the County of Maui’s Housing Division, the program will provide up to $30,000 of help to those that are eligible with qualifying properties.

The maximum financial help will be determined on a case by case basis, but it will generally apply as: any one borrower will not exceed 5% of the purchase price or appraisal value, or the amount above, whichever is less.

Completed application and a credit pre-approval letter from a mortgage lender, must be received at the Housing Division administration office by 4:30 p.m. Friday, Jan. 4, 2019, whether submitted via mail or hand-delivered.

Applicants will be selected through a lottery drawing process at 5:30 p.m. Thursday, Jan. 17, at the Cameron Center auditorium. 

For more information contact us directly at the contact information at the bottom of the blog. 

Popular Tax Relief Programs

While all of the popular tax relief programs deadlines (12/31/18) have passed, it is never a bad time to get a head start and doing research. It is always smart to ensure your property is being taxed as the popular classification. Some popular programs to see if you qualify are:

  • Homeowner Exemption and Classification: If you own and occupy your property as your principal residence on December 31 preceding the tax year, you are eligible for a homeowner exemption and tax rate classification. Homeowners must apply for a homeowner exemption by filing a claim form with our office.

  • Disability Exemptions: There are a variety of disability exemptions offered to property owners. To qualify for any of these exemptions, a claim form must be filed with our office. 

  • Circuit Breaker Credits: If you qualify for a homeowner exemption and your real property taxes exceed 2.0% of your adjusted gross income, you may be eligible for a circuit breaker tax credit. To apply for this credit, you must file an application with our office and provide signed copies of your federal and State of Hawaii tax returns. Applications are available and accepted August 1st thru December 31st.

*All information is above is via the count website. Please verify for yourself if applicable. These are merely suggestions.*

Contact a Maui Real Estate and Lifestyle Specialist

Whether you’re relocating to Maui, buying your first home, investing in real estate, or upgrading your overall well being, you could not find a better lifestyle than the one Maui offers. This island is more than just a beautiful destination, it’s home to incredible people, incredible athletes, and some of the world’s most renowned real estate. People come for the sun, but stay for the lifestyle. For more current information on Maui Real Estate, please contact to set up an appointment.

Aloha,

Anthony Sayles R(S)
808-280-6532
Anthony@DanoSayles.com

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