Kapalua Golf Villas Update
July 2016
LOCAL MAUI NEWS
Aloha Kapalua Golf Villa Owners!

Last month I updated you on the latest "foodie" experiences on Maui.  This month Maui's adult libations make the news.  Every year Wine Spectator Magazine grants awards to restaurants with the best wine selections.  
             Hawaii drank in 36 awards.  Here on Maui: 
Fleetwood's on Front St          Pacifico                          Gannon's, A Pacific View
Gerard's                                  Lahaina Grill                   Pulehu, An Italian Grill
Haliimaile General Store         Hony Seafood & Pizza   Mala Ocean Tavern
Humuhumunukunukuapuaa    Longhi's Lahaina            Longhi's Wailea
Marriman's Kapalua                Morimoto Maui                Nick's Fishmarket
   Sansei Seafood Rest. & Sushi Bar


Still looking to wet your whistle?  Alright then, one more. But then I'm through ... someone's gotta drive! If you've enjoyed Hawaii-made beers, you'll be glad to know that Maui Brewing Co. will begin to distribute its beers on the mainland - Bikini Blonde Lager, Big Swell IPA, Coconut Hiwa Porter and Pineapple Mana Wheat.

Need to work it off?  Let me tell you about a couple of out of the ordinary ways to do it. If you're into hiking, then volunteering to help out in Haleakala Crater will get you 2 free nights stay at Holua Cabin IN the crater.  Stay Saturday & Sunday nights August 6-7 and hike out on Monday August 8th. Click here for more information.      If you're more into running, check out the 3rd Annual Xterra Adventure Fest Maui  with a 10k, 5k, and even one for the Keikis (kids).  By the way the 10K course will be the same trails used a day later by the world's greatest off-road triathletes ... perfect time and place to meet some of them.  Click here for details.

And I know that talk about a West Maui Hospital has been circulating for years.  Well wait no more. There will be a groundbreaking ceremony for the West Maui Hospital and Medical Center in Kaanapali on August 15th. Follow the progress ... 
       CURRENT MARKET ANALYSIS
Nationally, first-time buyers are re-emerging.  According to the National Association of Realtors, they flooded the market last month reaching their greatest share in nearly 4 years.  Existing-home sales are now up 3% compared to a year ago and are at the highest annual pace since February 2007.    Here in Hawaii, we're seeing record levels of foreign investments in commercial real estate properties ... a total of $4.2 billion in the last 36 months.  That $4.2 billion is a whopping 1077% increase from the $352.7 million total recorded in the past 7 years combined!  The bulk coming from Asian investors.

Here on Maui, the median sales price of single-family homes and condominiums sold jumped last month. While the number of single-family homes sold dropped 5% to 96 ... down from 101 in June 2015, the median sales price edged higher by 1.1% to $657,000, up from $650,000. Condominium sales on Maui shot up 11% to 110 units from 99 sold in June 2015. The median price of condominiums in Maui County also rose 8.2% to $384,000 from $355.000 last year.

Let's take a look at Kapalua Golf Villas:

Status
Unit
Bd
Ba
 List $
 Sold $
Close
ACTIVE
26V1
1
1.5
650,000
ACTIVE
20V1
1
1.5
660,000
ACTIVE
19V1
1
1.5
795,000
ACTIVE
15T7-8
1
2
680,000
ACTIVE
16T5-6
1
2
730,000
ACTIVE
27T5-6
1
2
735,000
ACTIVE
17T7
1
2
750,000
ACTIVE
22T5-6
1
2
785,000
ACTIVE
15V3
1
2
795,000
ACTIVE
23P1-2
2
2
849,995
ACTIVE
14P1-2
2
2
850,000
ACTIVE
24P1-2
2
2
925,000
ACTIVE
11T2
2
2
975,000
ACTIVE
19T6-7
2
2
975,000
ACTIVE
27V2
2
2
1,095,000
SOLD
27T1-2
1
2
755,000
730,000
05/16/16
SOLD
27V3
1
2
790,000
740,000
04/15/16
SOLD
21P7-8
2
2
919,000
850,000
04/27/16
SOLD
24P7-8
2
2
935,000
920,000
07/25/16
SOLD
16V2
3
2
1,039,000
965,000
02/10/16

Figures from Realtors Association of Maui
TOURISM 
This summer's Rim of the Pacific military drills in Hawaii will bring in an initial $52.5 million to our Aloha State ... with tens of million more coming by the end of the exercises August 4th.  There are 25,000 military personnel from 26 countries participating this year. Many of them stay in hotels during shore leave ... and many of them bring their families.  Due to the their close proximity Waikiki filled up pretty fast.  Which means Neighbor Islands like Maui, are doing very well.

BeachNormally at this point I'm able to share occupancy and room rates for the week gathered by Hospitality Advisors.  But they've substituted a more in depth look for Maui focusing on May.  Historically Maui demands the highest room rates of all the Islands ... and that held true for May.  However Wailea, which usually rakes in the highest rates, fell 3.3% during May compared to May 2015.  Still, the rates were nothing to sneeze at with an average daily cost of $393.16 and 75.3% occupancy rate.  On the other hand, room rates in the Kaanapali/Lahaina/Kapalua area of West Maui rose 2.7% to $245.07, with an occupancy rate of 72.6%

By now you know I keep my vacation rentals with Maui Beachfront Rentals. If you have friends or family coming to Maui, do them a favor and hook 'em up with MBR.  So many folks prefer staying in a condo or villa with all the comforts of home, plus all the amenities of a resort. They'll thank you.  I know lots of you rent out your apartments when you're not using them to offset the cost of owning the unit.  Here are some of the reasons I'm so big on this company. They have a great online site where I can login anytime for full transparency including current occupancies, sales promotions, and owner financials.   And I think one of the reasons I get so many repeat bookings is their concierge services; car rentals, airlines, island activities, in room amenities, even grocery runs!  You should check 'em out yourself MBR.
TRAVEL
Interisland airline Makani Kai Air just increased the number of its daily round-trip flights between Honolulu and and two Molokai airports.  With the additional flights Makani Kai Air will operate 12 round trips between Honolulu and Molokai Monday, Tuesday, Wednesday, Thursday, and Saturday.  It'll operate 19 round trips on Fridays and 17 round trips every Sunday.  These new flights are in addition to the ones the airline flies between Molokai and Maui.      Travel + Leisure has announced its 5 best domestic airlines as part of its World's Best Awards 2016 ... and three of the airlines serve Hawaii.  Virgin America was ranked #1 for the 9th straight year, Hawaiian Airlines placed 3rd, and Alaska Airlines was 4th.

With a weakened yen and stagnant economy one might wonder why Hawaiian Airlines is investing so much money into their Hawaii to Japan flights.  CEO Mark Dunkerley says Hawaiian is on track to become the largest U.S. carrier between Hawaii and Japan. He went on to say that the Japanese "are now net spenders instead of savers, and they're spending it on travel."  Just this week Hawaiian began service to their 4th Japanese destination with daily flights between Honolulu and Narita Airport.  They already serve Osaka and Sapporo. The U.S. Department of Transportation has given Hawaiian the preliminary OK to shift its current daily flight between Honolulu and Tokyo's Haneda Airport to a daytime schedule starting Oct. 29th.  Their new nonstop service between the Big Island's Kona Airport and Tokyo's Haneda Airport will start Dec. 20th.
     MORTGAGES
The National Association of Realtors is celebrating a long-sought victory with the unanimous passing of H.R. 3700 "Housing Opportunity Through Modernization Act."  Since this deals with condominium mortgages, I defer to my mortgage guy Dean Rathbun of Avis Mortgage.  Dean shared that the bill includes reforms to current Federal Housing Administration restrictions on Condominium financing and make the process "substantially less burdensome". The bill lowers the FHA's owner-occupancy requirement from 50% to 35% and also requires FHA to replace an existing policy on transfer fees with a less-restrictive model.  President Obama is expected to sign the bill.

Post-Brexit volatility tapered off over the last two weeks, allowing mortgage rates across the board to tick up this week - but they're still hovering near historic lows. According to a report by the Mortgage Bakers Association, the mortgage volume level is now 66% higher than a year ago.
GREEN
Well it's official the whole magillah between NextEra and Hawaiian Electric is off. NextEra will not be acquiring Hawaiian Electric and is also pulling out of the Oahu-Maui interisland undersea transmission cable, proposed Lanai Wind Project, and the power supply improvement plans with Hawaiian Electric Co., Hawaii Electric Light Co. and Maui Electric Co.  Hawaiian Electric even had to cancel its major Liquefied Natural Gas deal with a Canadian firm because it was contingent on the NextEra Energy deal.  The use of LNG would have saved customers up to $3.7 billion over the life of the 20-year contract.

So now what?  Or maybe I should say now who?  Billionaire Warren Buffet is showing some interest in possibly purchasing Hawaiian Electric Co.  MidAmerican Energy Services, a Berkshire Hathaway Energy Company, was recently registered as a new business in Hawaii.  Berkshire Hathaway Energy owns one of the largest renewable portfolios in the United States.  What we know for sure is that MidAmerican is doing a pilot energy program in Hawaii using a technology platform to help clients manage the performance of the heating, ventilation, air conditioning and electric water heater systems at their property sites.  If the program proves out to save clients on their energy bills, they will roll out the program to the rest of the country, including all of Hawaii.

Okay ... full disclosure ... Berkshire Hathaway are the 1st two words in my real estate company and Warren Buffet's energy company ... so in the week of political conventions, I guess you could say "I'm with him".
                             
MAUI HAPPENINGS
 
7/28: Humpback Whale Talk 11am Nat'l. Whale Marine Sanctuary  Kihei
7/28: Willie K  Hawaiian Music  6:30pm King Kamehameha Golf Club
7/29: Soul Kitchen 4th Birthday Bash 7pm Mulligans on the Blue  Wailea
8/6-7: Volunteer and spend 2 nights in Haleakala Crater Details
8/07: Hiroshima & Nagasaki Remembrance  5pm  Lahaina Jodo Mission
8/20: 3rd Annual Xterra Adventure Fest Maui info

Maui OnStage  Iao Theater  tickets
thru 7/31:  Monty Python Spamalot
8/9: An Intimate Evening with Ricki Lee Jones
8/30-10/16: Boeing Boeing
11/25-12/27: Mary Poppins

Maui Arts & Cultural Center
 
 tickets 
7/28: Joan Osbourne  concert
7/29-30:  The MayJah RayJah   Island & reggae music
8/5-7 & 12-14: Jekyll & Hyde The Musical
8/5: Sons of Manu Kaha'iali'i   Hawaiian Music
8/6: Lisa Loeb  Grammy nominated singer/songwriter
8/9: Silversun Pickups   rock
8/14: Hawaii International Music Festival   classical music
8/21: Thompson Square   husband/wife country music duo
8/26: Island Breeze   blend of slack key guitar, taiko drums and Japanese flute
8/27: An evening with Gary Paul Nabhan   nature writer



Maui Obon Festival Schedule
Obon is an annual Japanese Buddhist festival that expresses joy to be living and honors loved ones who've passed away.  Also known as the Festival of Lanterns, everyone is welcome.

7/ 29-30: Wailuku Hongwangi Mission   service 6:45pm  dance 8:00pm        (808) 244-0406
8/5-6:  Lahaina Hongwanji Mission        service 6:00pm  dance 7:30pm        (808) 661-0640
8/19-20: Kahului Jodo Mission               service 6:30pm  dance 7:30pm        (808) 871-4911
8/20: Pa'ia Rinzai Zen Mission               service 6:00pm  dance 7:00pm        (808) 268-2209
8/27: Kula Shofukuji Mission                  service 6:30pm  dance 7:30pm        (808) 661-0466
9/10: Hana Buddhist Temple                  Hana Fairgrounds  dance 5 pm       (808) 248-8888

I know a lot of you are suffering through the hot dog days of summer, but remember our little corner of Paradise comes with its own Tropical Breeze.  If you have friends or fellow owners you think would enjoy these updates, shoot me a message and I'll include them next month.  I invite you to check out my website and to keep me in mind if you're looking to sell or perhaps add to your real estate portfolio. Remember I've been a Kapalua Golf Villa Specialist since 1987. I have closed over $1.5 billion in Maui real estate sales, and I am available to you 7 days a week.

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