BruceOnMaui.com Blog
Wells Fargo Weekly + Bruces Naui Real Estate Update
June 16, 2013
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Aloha,

HAPPY FATHER'S DAY!!! What better gift for pop than a place on Maui:)!! I tried a different approach with this report as I receive inquiries about data percentage's  for different statistic models; therefore I've attached some of Maui Real Estate data with normal weekly report...hope it helps as it is a month to date and year to date data provided to us through our Maui Real Estate Association. There has been plenty of headline excitement over here; here's the weeks headlines in review:

1). Saks Fifth Avenue plans to enter the Hawaii market as the anchor tenant for the planned re-development of the International Market Place in Waikiki.
The project is expected to break ground later this year or early 2014.
Honolulu's Dick Pacific, LLC has been chosen as the general contractor for the project. How great is that; but I'm really wishing they had another upscale department store like...let's say...NORDSTROMS!!! Shoot I'd be able to stay on Maui all the time!!

2). The restaurant chain Rock & Brew's, whose partners include rock star Gene Simmons of Kiss, plan to open a Maui location by the end of this year in Paia; slowly but surely they're figuring it out.

3). Four Seasons Resort Lanai @ Manele Bay to get $27M makeover + billionaire Larry Ellison plans for the eastern side of the island of Lanai, which includes the addition of a third Luxury Resort at the site of the old Club Lanai, this may also include fifty five acre residential parcels...this guy has just way tooooo much money!!!

4). Maui home sales soar 62%, prices up by 41% in May...WOOOOOW!!

All of these headlines may be further researched online from our islands Pacific Business News...very easy!!

We sold 62 properties this past report period with a list price of
$51,319,698 and a sold price of $48,737,248; this gives us a 94.47% of sold price to list price. Currently we are trending with 612 properties under contract with a valuation of $354,179,690. Definitely we have slowed down a tad this past month and a half, but our second high season will kick off in another couple of weeks and it should get busy again!!

WAILEA SOLD:

1). 0 OFF Makena Road - List Price - $10M - Sold Price - $10M...159 acres in Makena.

2). Kai Malu, 67B - List Price - $1.149M - Sold Price - $1.125M...our office represented seller.

3). Palms I, 1804 - List Price - $626K - Sold Price - %579K.

4). 3104 N Noho Loihi Way - List Price - $529,900 - Sold Price - $469,250...our office represented seller.

5). Palms I, 1603 - List Price - $719K - Sold Price - $655K.

6). 3986 Wailea Ekolu Place - List Price - $6.199M - Sold Price - $5.79M.

7). 5065 Makena Road - List Price - $3.4M - Sold Price - $3.2M...our office represented seller.


WAILEA PENDING:

1). 85 Hale Noa Way - List Price - $2.3M.

2). 344 Pualoa Nani Place - List Price - $400K.


Two outstanding opportunities:

1). Maluhia residential vacant lot, the last buildable, residential lot with direct beach and ocean access, private gated community right smack dab next door to the new Andaz Resort that will be opening later this summer. The 12 Villa's for sale at the Andaz range from $6M+ to over $11M+. btw the two $11M+ Villas are currently under contract; listed $2.85M.

2). Wailea Elua, another fine premier 25 acre beach / ocean front complex directly on the other side of Andaz Resort. This two bedroom + two bathroom, completely re-modeled, ground floor unit has expansive lanai's with sweeping panoramic views of the Pacific, excellent pool area with saline pool, exercise area, BBQ and lounging. One of Wailea's premier snorkeling spots; listed $1.995M...please hurry up before the Andaz is completed as these two fine opportunities may get a price adjustment....with the adjustment UP!!!!!!

Plenty of excellent opportunities here and please get a handle on it now as is indicated our prices are moving upward.


HAIKU SOLD:

1). 560 W. Kuiaha Road - List Price - $549K - Sold Price - $542K.


HAIKU PENDING:

1). 33 Makaio Place - List Price - $590K.

2). 0 Ulua Place - List Price - $345K.

3). 430 Kukuna Road - List Price - $375K.


KULA SOLD:

1). 5 Nunu Place - List Price - $899,900 - Sold Price - $868,888.


KULA PENDING:

1). 1411 Lower Kula Road - List Price - $1.75M.

2). 16156 Haleakala Highway - List Price - $599K.


LANAI SOLD:

1). Lanai City Apartments, B-204 - List Price - $95K - Sold Price - $95K.


LANAI PENDING:

1). 936 Lanai Avenue - List Price - $315K.

2). 327 Ehunani Circle - List Price - $208K.


MOLOKAI SOLD:

1). 115 Ulunui Road - List Price - $98,500 - Sold Price - $95K...two acres vacant land.


MOLOKAI PENDING:

1). 86 Onioni Drive - List Price - $119,500.

2). 0 Puunana Street - List Price - $70K.


Well that's a wrap for this report; as always please feel free to contact me for specific information on specific properties that you are interested in.
I can always send a complete Market analysis of area to get you up to speed.
Plus let me know when you plan on coming to Maui so we can get together for a cup of coffee and catch up...remember..."IF YOU WISH TO INVEST IN LIFESTYLE; WE'RE A GREAT BUY' + IF REAL ESTATE IS YOUR ADDITICTION I WANNA BE YOUR SUPPLIER":)!!! 808 ALL DAY!!!
Mahalo nui, xiexie.

Wells Fargo Weekly Economic Financial Commentary

Warmest Aloha's,


Bruce aka Mai Jun Fan


Bruce E. McDonald, Realtor-Broker, MBA

Wailea Realty Corp
3750 Wailea Alanui, Suite B-51
Wailea HI, 96753
Direct - 808-283-4189
Fax - 808-879-6481
www.BruceOnMaui.com
Skype - BruceOnMaui

"Acting Locally - Thinking Globally"

Wells Fargo Weekly Economic & Financial Commentary + Bruce's Maui Real Estate Update - Bruce McDonald R(B) - Wailea Realty Corp
June 03, 2013
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Aloha,

HAPPY MEMORIAL DAY HOLIDAY, what a great week as we remember those who serve and continue to serve our great country. Also a great weekend as it was the Indianapolis 500, the largest watched sporting event in the world; and rightfully so as the race car drivers come from all over the world!!
For more local / island news we have Mr. Larry Ellison getting the ok for another Hotel / Industrial Development on the island of Lanai which is part of Maui County. "The Lanai Community Plan Advisory Committee has approved plans for a new ultra-luxury hotel and set aside 200 acres for industrial development" a committee member told PBN. The committee also approved the concept of adding a third hotel that Billionaire Larry Ellison, the CEO of Oracle Corp ( NASDAQ:ORCL ) who bought most of the island last year, wants to build on the site of the old Club Lanai on the eastern side of the island.
Castle and Cooke is moving forward with Hawaii "BIG WIND" Project; one half of Hawaii's controversial "Big Wind" project in which large wind farms on Lanai and Molokai would pump electricity to Honolulu via an undersea cable- is still moving forward!!
This week was a tad light as we only had 34 properties sold with a list price of $25,395,140 and a sold price of $23,700,472 which gives us a 93.33 percent of sold price versus list price. Current pending properties under contract are 647 with a valuation of $403,170,099.


WAILEA SOLD:

1). Kai Malu, 27A - List Price - $1.215M - Sold Price - $1.190M...our office represent seller.

2). Elua, 2101 - List Price - $800K - Sold Price - $703,799K...this was an REO.

3). Ekahi, 43F - List Price - $649K - Sold Price - $623,600.


WAILEA PENDING:

1). Kai Malu, 25A - List Price - $1.385M...our office represents seller...these units keep creeping up in price!!!

Just some side notes as we currently have 29 Wailea properties under contract with a valuation of $59,208,650...pretty darn impressive!! Just a sign that smart people / smart money is still grabbing our grossly undervalued real estate.


HAIKU SOLD:

1). 458 Kihau Place - List Price - $299K - Sold Price - $300K.


HAIKU PENDING:

1). 22 Hale Lio Place - List Price - $799K.

2). 210 Pio Tract - List Price - $529K.

HANA SOLD / HANA PENDING:

1). Zero properties to report this period.


KULA SOLD:

1). 19 Puakea Place - List Price - $525K - Sold Price - $540K.

2). 0 Upper Kimo Drive - List Price - $2.495M - Sold Price - $1.8M.


KULA PENDING:

1). 109 Kulalani Circle - List Price - $299,800.


LANAI SOLD:

1). Zero properties sold this report period.


LANAI PENDING:

1). 180 Kaunaoa Drive - List Price - $1.309M


MOLOKAI SOLD:

1). 2820 Kamehameha V Highway - List Price - $1.588M - Sold Price - $1.5M.


MOLOKAI PENDING:

1). Zero properties pending this report period.

That’s a wrap for this report period and remember if you are coming to the islands to look me up so we can catch up!! "IF YOU WISH TO INVEST IN LIFESTYLE, WE'RE A GREAT BUY"!! 808 ALL DAY!!

Mahalo nui.

Warmest Aloha's,

Bruce aka Mai Jun Fan

Download the PDF here

Real Estate Update
February 25, 2013
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Aloha,

What a fantastic week, ok; maybe a tad light of fantastic if you were visiting as our weather was a little funky, but living here allows us to look beyond that as there will be a lot more days of sunshine and warm weather:)!! I got excited this week as the positive news from Lanai just continues to flourish and enticed me to do some serious follow up with what the heck has been happening since the transfer to Mr. Larry Ellison last year. Researching back a year from today the Island of Lanai ( part of Maui County ) has experienced sales of 21 residences with a valuation of $9,981,500 and 25 condo sales with a valuation of $19,839,150. Total units sold and total dollar amount works out to 46 units with a total dollar volume of $49,238,900...those are some crazy numbers and probably better than they have seen in the last 10 years, let alone the last year!!
Lanai is currently trending at a 1% unemployment level, which is basically zero as the rule of thumb first two percent are usually unemployable anyway, with the word that "if you wish to work; go to Lanai"!!
Part of Mr. Ellison's update are to build a movie theatre, bowling alley and a good ol' fashioned ice cream parlor; plus another boutique 100 room complex on the east side of Lanai. Further enhancements to include a desalinization plant, 1.5 megawatt La Ola Solar Farm that would power the entire island and the farming of tropical flowers and of course our fruit that can and will be furnished to Asia, they'll take all we can grow...right in my wheel house!!
More on the Asian side of Real Estate, New York Bankruptcy Court Judge finalized the foreclosure sale of the 780 room Grand Wailea Resort here on Maui in Wailea, La Quinta Resort and Club, PGA Golf Course La Quinta, Arizona Biltmore Resort and Spa in Phoenix and the Claremont Resort and Spa in Berkley to the Singapore Investment Corp that is a group / branch of their Government!!
Wailea on the other hand has seen an increase with properties going under contract to 31 properties under contract with a valuation of $49,238,900...again just solidifying my belief that "SMART PEOPLE / SMART MONEY" are getting off the fence and getting in on the FINEST AND SAFEST REAL ESTATE TO OWN IN THE WORLD....BAR NONE!!
This past week report period we had 32 properties close with a list price of $16,058,350 and a sold price of $14,922,950, this gives us a 92.93% of sold price to list price. This next number is another indicator that truly got my attention, our total pending properties went to 607 with a valuation at $478,201,857...probably in the last couple of months alone we have experienced a 10 to 15 percent increase of total pending properties!!

WAILEA SOLD:

1). Palms I, 1502 - List Price - $799K - Sold Price - $775K...our office represents seller.


WAILEA PENDING:

1). Fairway Villa's, P-202 - List Price - $599K.

2). Palms I, 1301 - List Price - $899K.

3). Palms I, 1503 - List Price - $830K.

Wailea properties are currently trending with 31 properties under contract and a valuation at $49,238,900...good stuff:)!! I have some off the radar fine properties in two of Wailea's original Hawaiiana Style properties. A nice remodeled one bedroom + two bathroom, Lower Village Ekahi, ocean views; listed at $890K. The other opportunity is a completely remodeled and tastefully reconfigured two bedroom + two bathroom Elua unit, ground floor unit, original owner and never vacation rented; list price $1.95M. Both of these Fine Premier Properties allow for direct beach and ocean access and are A+ locations:)!!
On the Kihei side and what I like to refer to as "North Wailea"; I have a fantastic half of one acre property directly across the street from one of Hawaii's / Maui's finest stretches of seven mile sandy walking / snorkeling beach, Sugar Beach. This half acre consists of three dwellings, all remodeled for a total of nine bedrooms + seven point five bathrooms, and situated on meticulously maintained landscaping, a great property for any type of buyer; listed at $2.871M.


HAIKU SOLD:

1). 2377 Lilikoi Road - List Price - $699K - Sold Price - $600K.


HAIKU PENDING:

1). 31 Hale Lio Place - List Price - $425K.

2). 33 Makaio Place - List Price - $590K.

3). 90 Kapii Place - List Price - $872,250.


HANA SOLD / HANA PENDING:

1). Zero Hana Sold and zero Hana Pending this past report period.

This area continues to baffle me as there are some outstanding opportunities in the Nahiku, Hana and Kipahulu district. Our office represents three outstanding properties and one in particular is a nice remodeled three bedroom with two bathroom single family residence listed at $749K. Great property, outstanding views, meticuosly maintained...what a get away!!


KULA SOLD:

1). 114 Aina Kula Road - List Price - $265K - Sold Price - $265K.

2). 310 Waipoli Road - List Price - $825K - Sold Price - $590K.


KULA PENDING:

1). 44 Kula Manu Circle - List Price - $699K.

2). 171 Pulehuiki Road - List Price - $1.125M.


LANAI SOLD:

1). Lanai City Apartments, C-204 - List Price - $104,950 - Sold Price - $104,950.


LANAI PENDING:

1). Terraces at Manele, 11A - List Price - $2.295M.

2). 196 Hulopoe Drive - List Price - $4.2M...look at this one!!!

3). 0 Hulopoe Drive - List Price - $1.165M.

4). 327 Ehunani Circle - List Price - $208K.

MOLOKAI SOLD:

1). Zero properties sold this past report period.


MOLOKAI PENDING:

1). 26 Pano Place - List Price - $249K...even Molokai continuing to stay on the Radar with activity!!!


That’s a wrap for this report period and my sincerest apologies if I was / am "Over Exuberant" with this report; but I sincerely enjoy and appreciate the opportunity I have in presenting the opportunity to all of you to purchase some of the world's best real estate!!
As always remember that "IF YOU WISH TO INVEST IN LIFESTYLE WE'RE A GREAT BUY"!!! 8098 ALL DAY:)!!
Mahalo nui.

Warmest Aloha's,

Bruce

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