Housing & Real Estate

After testifiers debated whether adding 53 luxury homes in a hotel area would help or hurt Maui’s housing crisis, Maui Planning Commission cleared a key hurdle today for the project planned on 28 acres in Mākena. Public testifiers said the project will help keep wealthy, out-of-state homebuyers in hotel areas and reduce demand on residential communities. Other residents voiced strong opposition, saying that affordable homes – not luxury homes – should be prioritized.   

More Maui County homes were purchased by out-of-state buyers last year than in recent years, according to new state data. 

An additional 84 affordable rental units for seniors were completed recently as part of Catholic Charities Housing Development Corporation’s Kahului Lani Phase 2 project.

Maui condominium sales spiked to a new record of $730,500 last month — and almost half sold above list price, recent reports show. Meanwhile, February’s single-family home median sales price of $1.1 million rivaled the historic high of $1.16 million set in January, according to Realtors Association of Maui data published in a Coldwell Banker Island Properties report Wednesday. 

A new real estate company that helps people own their second luxury home is rolling out a welcome mat in Maui, but some residents are already pushing back, saying they’re timeshares in disguise that will ruin neighborhoods.

JLL, a Fortune 500 firm that specializes in real estate and investment management, promoted Brian Yano to vice president, regional area manager of its retail open-air in Hawaiʻi.

A Hawaiian homestead nonprofit governed by enrolled members of the Sovereign Council of Hawaiian Homestead purchased a 6-unit apartment property in downtown Līhuʻe, Kauaʻi. 

Hawaiian Electric presented a $9,000 donation to Habitat for Humanity Maui to help more Valley Isle residents achieve homeownership.

Hawaiian Community Assets announced that Chelsie Evans will lead efforts going forward as the organization’s new Executive Director.

Discussion will include comprehensive information regarding the application, lottery and lease process, and construction updates for Kaiāulu o Kupuohi and Kaiāulu o Kūku‘ia apartment projects developed by Ikaika ʻOhana.

Waikapū Country Town is the County’s largest planned residential housing development in decades.  Original plans called for 1,146 market-priced units and 287 residential workforce housing units, with the potential for 146 ʻohana units. If approved, Mayor Victorino’s proposal will increase the total number of residential workforce housing units to 500.

The Maui real estate market started the new year off with the median price for single-family homes rising to a record $1,160,000 – the previous high was set in June 2021 at $1,105,000.

Residential real estate brokerage, Hawaiʻi Life, has acquired Wailea Realty Corporation, a second-generation Maui real estate brokerage founded in 1972.

As director of the House Maui Initiative, Keoni Kuoha will work to bring together nonprofit organizations, funders, homebuilders, government and communities to create affordable housing solutions on Maui.

The lottery will determine which successful applicants will secure one of the new housing units at the project site, which is planned for construction at the corner of Kaiola Place and ʻOhukai Road, a few blocks mauka from Mai Poina ‘Oe Ia’u and Kalepolepo Beach Park.

Homeowners on Hawai‘i Island and Kaua‘i are encouraged to participate in one of the scheduled workshops to learn about options for preventing foreclosures as well as free housing counseling and financial assistance available to help them keep their homes.

Maui County ended 2021 with another month of strong sales, capping a year that saw the highest median sales prices and the lowest inventory for residential homes, according to recent real estate reports. High prices didn’t stop buyers, since more than half of homes sold at or above list price and 33% of all home sales were cash deals, Fidelity National Title & Escrow of Hawaii Inc. said.

Kapalua is home to several different condominium communities, with offerings ranging from one to four-bedroom condominiums. The Kapalua Bay Villas, Kapalua Ironwoods, The Coconut Grove on Kapalua Bay, the Montage Residences Kapalua Bay and the Ritz-Carlton Kapalua Residences are all oceanfront properties nestled along the Kapalua Resort’s spectacular shoreline. The Kapalua Ridge Villas and Kapalua Golf Villas both are located on the Kapalua Bay Course with ocean and golf course views.

The infilled neighborhood will consist of 100% owner occupied workforce housing units exclusively for local residents and all created with sustainable design and construction. The development itself will consist of 40 duplexes across three acres of land.

The number of homes in Hawaiʻi purchased by Mainland buyers in the first half of 2021 was more than double the sales in the first half of 2020 and more than 50% higher than during the first half of 2019, according to UHERO.