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$300k Price Reduction & Flying Camera Video on Kapalua, Maui Bank Owned Home

As the Hyundai Tournament of Champions golf tournament comes to Kapalua, Maui on January 6-10, savvy buyers will relish in that 233 Crestview, Kapalua's top residential home value, was just reduced 10% and a total of $300,000.

Kula - A Favorite Place to Live on Maui

Having lived on Maui since transplanting here from San Diego in 1978, I am often questioned by clients and visitors about where my favorite spot is on Maui.

Where is My Favorite Place on Maui?

On a dreamy introspective day, I would would say Waimoku Falls at Oheo Gulch sitting under the 400 foot waterfall, spacing out while laying on a warm rock watching the rainbows form at the edge of the fall.

On a windy day with a nice swell, pushing downwind from Maliko Bay with some friends in a canoe is hard to beat.

On a good south swell day, hitting the waves at my favorite break at Launiopoko with my buddies and the floating beer cooler just can’t be beat. We have a 2 wave rule: if you get two waves in a row, you are sent to the penalty box and have to drink a beer. That is a great equalizer when you are out with better surfers who like to steal all the waves.

As far as places to live, that is a really tough question, as Maui is about as varied in climate as you can get for such a small geographical area. However, after many people have lived on Maui for a number of years, they realize the beach will always be there with the warm water and they start looking for more privacy, a cooler place to retreat, and to be able to raise a garden and have a few animals. The answer is Kula!

Just Listed - Upper Kula 2 Acre Estate Featuring a Large Home with Detached Cottage/Garage Area

It is not uncommon for those who retire to Maui to make a first home in the warmer areas of Wailea, Kaanapali, Lahaina or Kihei. If you are coming from a cold climate, this is a logical step if you want refuge from winter. However, 90 degrees every day, all summer long gets oppressive after a while.

Kula Hwy Rocking Chair

From your rocking chair at our newest listing in Kula you can enjoy amazing bi-coastal ocean, central Maui basin, and West Maui views while you contemplate your own favorite places on Maui

Our newest listing is a 3 bed/3 bath home of approximately 3,488 interior living area square feet with roughly another 2,000 sq.ft. of covered and uncovered deck areas.

7636 Kula Hwy HD Video Tour

At 7636 Kula Highway (MLS# 357745), we offer you a cure for year around living on Maui

In addition to the main home, there is a huge detached garage that has a substantial studio/one bath living area above the garage that is perfect as a rental or extended living situation. The Stice Team is proudly offering this property for $1.65M and all listing details for this property can be found here: property detail page.

Kula Hwy Living Room

This home was built by a well-known Maui couple in 1991 who loved to paddle canoes. The living room, kitchen, and master bedroom all have large windows to invite natural light and the spectacular scenery down at sea level.

Kula Hwy Kitchen

The main house was totally remodeled over the past two years with an updated kitchen, new flooring, new master bath and guest suite, all located on the top floor.

Kula Hwy North Shore View

The bottom floor, which is accessible at ground level via another driveway, is essentially a whole living area of its own. Both floors have excellent views.

Kula Highway Structures

The huge 4 car garage is large enough to handle a 42 foot outrigger canoe. Both the main house and garage are pole type structures with high, open beam ceilings giving a very spacious feeling.

Property Highlights

This is the perfect climate at 2,800 feet elevation. Rainfall averages around 25-30 inches a year, so there is just enough rainfall to keep the pasture green most of the year, but you get sunshine 90 percent of the time.

Kula Hwy View

The best part is that you have bi-coastal views of West Maui, Kahoolawe, Lanai, and the tip of Molokai that are completely unobstructed. There is a very good reason Oprah Winfrey decided to buy a huge part of the surrounding properties, it is climate and view!

Finally, if you like to have a garden, the deep volcanic soil awaits your nurturing hands. Already there are many producing fruit trees and a vegetable garden. One acre is fully fenced with 2 miniature goats right now, but you could have horses or other livestock as you choose as there are no covenants to restrict your farming ambitions.

Strong Value in Upcountry Maui

Please let me know if you have any questions, or would like to schedule a personal viewing of this property. Everything has been taken care of on this house and property, and it represents a very strong value in the very popular Upcountry Maui marketplace.

Aloha from the listing Broker,

Tracy Stice R(B)
Tracy@HawaiiLife.com
808.281.5411

Why I Live and Love My North Shore Maui Life

Clients and friends have asked me for years why I live in Haiku “where it rains all the time." Frankly, I reply with a smile and remind them that this is the first place the Hawaiian’s chose to live when they arrived on the islands. When you have adequate rainfall and you have to live off the land and the ocean, the answer is very simple; water is the source of life. Preparing garden with my mother Janet 1980

Me and my late mother preparing for a garden in 1980

After living the first 12 years of my life in the desert in Tucson, Arizona, hiking through dry gulches, dodging jumping cactus, and enduring 110 degree summer days, Maui was an easy transition. The desert does have a beauty all of its own and an amazing amount of life, but it is very difficult to survive in it for long without a source of water.

So, starting with water in two forms - the fresh water from the heavens and the salt water of the sea - Haiku has both. There is a misconception that our Maui soil is fertile. Mostly, it is not as it has largely been depleted by mono-cropping pineapple and sugarcane for years. Poor soil management makes restoring the soil a huge chore.

When I purchased my home in 1978, I bought five acres with a tiny cottage in the middle of an abandoned pineapple field. Nothing would grow. My neighbor, Guy Moen, was successfully growing commercial bananas right next door and we had a conversation that has carried me forward in my farming (and real estate) careers.

Planting  and Plowing 1981

Working the land with my tractor back in 1981

Guy told me to get the soil tested at the local ag extension service at the cottage. He shared that until I supplemented the soil with available nutrients and adjusted the PH from highly acidic soil to a more neutral PH, I would have difficulty even growing a decent weed. I listened and learned.

Adding dolomite lime allowed the soil to become PH neutral and loosened up the existing nutrients in the soil. Adding rock phosphate in large quantities, replaced the phosphate depleted by farming pineapples for years. Adding organic matter, ash, and compost helped build up potassium, and supplementing with all forms of nitrogen, legumes that fix atmospheric nitrogen, and foraging animals all have gradually brought life back to my land.

The same is true of our ocean waters. We have overfished them for years and to earn a living as a fisherman is difficult. My neighbor, Adam, is a commercial fisherman, mostly fishing pelagic tuna, mahi mahi, ono, and swordfish. Adam agrees that reasonable management of the fisheries is the only way to keep feeding us all off the ocean. Recent closings of bottom fishing for onaga, opakapaka, and other bottom fish has started to slowly increase the population of these fishes and now fishermen are reporting better catches in open season.

Maui Sustainable Living and Sustainable Real Estate

Haiku Present Day

I enjoy the lush vegetation that surrounds the same home that I have lived in since 1978, which is quite the contrast from when I first purchased it (see above photos)

Living in an area where there is adequate rain to farm and an ocean that can feed you, offers some opportunities that other parts of Maui don’t have. To farm in Central Maui and Kihei, all the water must come from the windward side. Please peruse my previous article Maui Sustainable Living and Sustainable Real Estate.

Living and Loving the Haiku Life

450 North Holokai Place (MLS# 356689) in Haiku just listed for $1,850,000

A good example of a family that takes advantage of the rainfall is the owner of a new property that I have listed for sale at 450 N. Holoka’i Place in Haiku. Don and Patricia Fisher started with 2 acres of pineapple fields 12 years ago, built their dream home on it, and put in a tremendous fruit orchard and some small gardens.

They have faced the same obstacles that I have, but every day they get to walk out and pick citrus, avocados, lychee, mango, figs, and many other fruits. To farm two acres in Kihei, your water bill would be $600 or $700 per month. They pay $30 per month because they don’t have to irrigate.

Words that Patricia Fisher shared with me, “Why would somebody want to live anyplace but in Haiku? You have peace and quiet with no traffic noise, no burden of the resort commotion, good access to great restaurants, stores and Upcountry Fitness at nearby Haiku Town Center, 10 minutes to the beach at Hookipa, and it is all only 30 minutes from Kahului."

Why Not Consider Haiku?

You have world class windsurfing, the best downwind paddle from Maliko Bay, site of the Olu Kai world competition every year, surfing and kiting at Hookipa, massive winter surf at Peahi Bay aka "Jaws," great cycling and mountain biking, equestrian facilities at Tom Morrow Equestrian Center, rodeo and roping at Kaupakalua Riding Club. 

Best of all, you have top notch both public and private schools as Haiku Elementary consistently scores highly in state ratings and both Montessori and Seabury Hall offer high level, college prep quality private education.

Having lived in Haiku since 1978 (I am still on my 5 acres) and raising my 3 children (all born on the property) with my wife, Laura, I truly have a feel for the land, the community and what it takes to prosper here. My children are now all successful adults and my son, Jeremy, is my business partner in real estate. We work as the “Stice Team" at Hawaii Life Real Estate Brokers and we are the top selling agents in Haiku. We know and love the area, so it is logical that we can best share that love with our clients.

If you want to talk about farming, real estate, surfing, cycling, schools, canoe paddling, or living the Haiku life, please reach out to me.

Aloha from the North Shore,

Tracy Stice R(B)
808.281.5411
Tracy@HawaiiLife.com

Honua Kai 2 Bedroom Partial Ocean View Unit Falling Out of Escrow

As I was preparing my regular monthly Honua Kai real estate market update for April of 2013, which will be out shortly (see previous update: March 2013 Market Update), I noted that a very desirable two bedroom partial ocean view resale unit is currently in the process of falling out of escrow and is available for sale to a new buyer. I had a couple of buyer clients that I shared this particular unit with before it came on the market, but I didn't get any bites, so I wanted to put out the word as I really like this particular property.

Honua Kai Hokulani #536 Video Tour

Hokulani #536 is a two bedroom/two bath partial ocean view unit listed for $1,250,000 and is 1,240 sq.ft. of interior living area with a huge wrap around covered lanai of over 500 sq.ft. See the following link for all of the listing details on this unit and all Honua Kai Resale Units for Sale.

This particular floor plan is one of my personal favorites as it feels considerably larger than the smaller two bedroom floorplans at 1,100 sq.ft. One of the best things is that you do get some of those highly coveted ocean views from the living room area. Buyers generally pay a very high premium for units with ocean views from the living room area like Hokulani #741 priced at $1,985,000 (Hokulani #741 virtual tour).

This unit has also a very nice view of the West Maui mountains, which is a great contrast to the ocean views, the lighting on these mountains when the sun is setting is absolutely spectacular and there are regularly rainbows here too. The unit also looks directly at the island of Molokai and one will regularly experience the sun setting into the ocean from the lanai vantage point here.

The unit has large windows in both the living room and second bedroom, which face east towards the mountains and will welcome excellent morning sun and natural light into the unit as the sun rises in this direction.

This Unit Not For You, But Still Interested in Honua Kai?

Please peruse my blog series below, reach out to me directly with your criteria, and ask about available units and those not currently on the market, or be sure to check out the 50 New Price Reductions on Two and Three Bedroom Units at Honua Kai.

Aloha from Maui,

Jeremy Stice REALTOR (Broker)
808.281.2178
Stice@HawaiiLife.com

My Blog Series on Honua Kai Condos

  1. Honua Kai Resort in Kaanapali, Maui – Start here, as this blog will provide you with a good overview of the resort including video on its location, and its world class amenities and ownership offerings.
  2. Honua Kai Resort Real Estate For Sale – Kaanapali, Maui Condos For Sale – This post focuses on the inventory actively for sale and where all the units are located.
  3. 50 New Price Reductions on Two and Three Bedroom Units at Honua Kai - New developer price reductions announced on April 18, 2103.
  4. Honua Kai March 2013 Market Update Report – There has been a significant increase in the level of sales for two bedroom units at the resort. Read all about it here.
  5. One Bedroom/One Bath Mountain View Unit at Honua Kai Sold for $525,000 - Congratulations to the Kojima Ohana on their recent resale purchase at Honua Kai.
  6. 5 Remaining One Bedroom Plus Den Units for Sale at Honua Kai – They are sold out of developer one bedroom units but check out this video blog for this niche units starting in the high $700k range.
  7. Honua Kai 2 Bedroom/2 Bath Condo Sold a Seller’s Perspective – What our seller client had to say about our team selling their property for a $135,000 short term gain.
  8. 2 Bedroom Ocean View Best Buys at the
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    Honua Kai Resort and Spa – Feb ’13 post on the best ocean view and partial ocean view two bedroom units.

  9. 4 New One Bedroom Listings at Honua Kai – Posted on January 2013 be sure to check out these best buys priced under $550K
  10. Honua Kai January 2013 Market Update – What’s happening in the new year at Honua Kai? Are prices increasing?
  11. Honua Kai HOA Fees Increasing By 10% Effective Feb. 1, 2013 – What are the current fees, what do they cover, and what other costs of ownership are involved?
  12. 25% Down Payment Financing Options at Honua Kai – Get the inside track on leveraging your cash investments at Honua Kai.
  13. Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000 – Did you know that many of the owners at Honua Kai are from Canada?
  14. Honua Kai November 2012 Market Update – The latest news after a crazy year of selling
  15. Honua Kai January 2012 Update – Why Honua Kai is the hottest deal in town right now
  16. Honua Kai Purchase Process – An owner’s perspective of purchasing and experiencing the resort.
  17. 35% Price Reductions on Condos For Sale at Honua Kai Resort – Read about how the developer dramatically slashed the prices at Honua Kai and where some of the best deals are at.
  18. Price Reductions on Honua Kai Resort One Bedroom UnitsVideo blog on 1-bedroom units that are Screaming Deals.
  19. Honua Kai Resort in Kaanapali – Best Two Bedroom DealsVideo blog on 2-bedroom units that are Screaming Deals.

 

50 New Price Reductions on Two and Three Bedroom Units at the Honua Kai Resort

After a couple months of being in the works, the asset management company in charge has just made fifty price reductions on select two and three bedroom units at the Honua Kai Resort in Ka'anapali, Maui. Although these price reductions are not as drastic as the ones that were done in mid 2011 - 35% Price Reductions on Condos For Sale at Honua Kai Resort - they are likely the last remaining opportunity for buyers to really pick up some steals on developer inventory at the resort. The Honua Kai condo market is showing very strong signs of recovery paralleling the overall upward trends of the Maui market, so it wasn't really necessary for them to be as aggressive. In addition to the price cuts, they are also offering some back end concessions on select three bedroom units, which will improve the overall affordability of the units without as drastically affecting the sales comps.

What is also noteworthy is that lending rates are about 1 point lower than they were in mid 2011, which does significantly impact the overall affordability of these properties. As of right now, I have two buyer clients who have gone to contract at these discounted prices on two bedroom partial ocean view units.

Hokulani Lobby

Pictured above is the Hokulani lobby at Honua Kai. Hokulani was completed in 2009 and Konea in 2010. HOA fees for both buildings are the same at $1.33/sq.ft. of interior living area, but not covered lanai areas. Honua Kai HOA Fees Increasing By 10% Effective Feb. 1, 2013

Hokulani is one year older than Konea, but has a more elegant lobby and is home to the Aina Gourmet good market. Konea has the larger gym area and will eventually have another restaurant that is more geared towards affordable family dining rather than high end fine dining as originally proposed.

There is substantially less inventory available at Hokulani and the price points are generally lower than the northern Konea tower. I do find that the Konea tower is generally a little more quiet than the Hokulani tower, but I think that the activity level will certainly increase soon as the asset management company has an official agreement with the spa operator, which will hopefully be opening in August of this year.

Additionally, next to the spa in the Konea tower there will be a second restaurant operation on site besides the very successful Duke's Beach House.

Most Substantial Price Cuts in the Hokulani Tower

  • Hokulani #225 - a 2bd./2ba. ocean view unit with 1,200 sq.ft. of interior living area with 330 sq.ft. of lanai last priced at $1,509,900 now a screaming deal at $1,120,000.
  • Hokulani #215 - 2bd./2ba. partial ocean view interior courtyard (see below) unit with 1,320 sq.ft. of interior living area with a huge 625 sq.ft. of lanai last priced at $1,564,900 now a screaming deal at $1,375,000.
  • Hokulani #605 - 2bd./2ba. an ocean view interior courtyard (see below) unit with 1,100 sq.ft. of interior living area with 235 lanai last priced at $1,729,000 now a screaming deal at $1,475,000.
  • Hokulani #829 - (see below under substantial buyer incentives for three bedroom units) a 3bd./3ba. ocean view interior courtyard unit with 1,600 sq.ft. of interior living area and a 240 sq.ft. lanai last priced at $2,399,900 now at $2,167,450 plus substantial back end buyer incentives.
  • Hokulani #1037 - a 3bd./3ba. ocean view unit of 2,205 sq.ft. with a 930 sq.ft. lanai last priced at $3,449,900 now a fantastic value for a true luxury unit priced at $2,875,000.

Konea 505 Video

I really like the view from Konea #505 a resale unit, which just recently underwent a $100K price reduction and is now positioned at $1,567,000, which is about $200K lower than what the currently seller paid for the property.

Here is the full HD video of this unit: Konea 505 Video. Below you will see very similar developer units in Konea #503 and Konea #605 (the unit right above this resale)

Most Substantial Price Cuts in the Konea Tower

  • Konea #343 - 2bd./2ba. partial ocean view interior courtyard  unit with 1,315 sq.ft. of interior living area with 230 lanai last priced at $1,639,000 now a screaming deal at $1,465,000.
  • Konea #503 - 2bd./2ba. huge ocean view interior courtyard  unit with 1,315 sq.ft. of interior living area with 230 lanai last priced at $1,809,000 now a screaming deal at $1,575,000.
  • Konea #605 - 2bd./2ba. huge ocean view interior courtyard  unit with 1,315 sq.ft. of interior living area with 230 lanai last priced at $1,819,000 now a screaming deal at $1,580,000.
  • Konea #149 - a ground floor 3bd./3ba. ocean view unit at the front of the building which is 1,930 sq.ft. with a 840 sq.ft. lanai last priced at $2,519,900 now at $2,267,000.
  • Konea #749 - an upper floor 3bd./3ba. ocean view unit at the front of the building also at 1,930 sq.ft. with a 270 sq.ft. lanai last priced at $2,904,900 now at $2,702,450.

Two Bedroom Ocean View Best Buy

This is a video of Hokulani #349, 1,100 sq.ft. of living area with a 235 sq.ft. covered lanai, which sits on the inner courtyard of Honua Kai. I really like this particular unit because it is just one stack back from the front of the building making it closer to the water and thus enhancing the view.

Hokulani #349 was originally priced at $1,525,000 and is now priced at $1,325,000. I also like the fact that it is on the inner courtyard, which makes the unit very well protected from the wind.

Please use this previous blog as a reference for the location of these units, you will find it very helpful: Honua Kai Blog with building templates and aerial photos.

Three Bedroom Ocean View Best Buys

This is a video of Hokulani #503, which is a resale unit on the market for $2,499,000 - I don't think this particular unit is that great of a deal, especially in light of the new price reductions, but I wanted to show the floor plan, level of finishes, and commanding views that are present in similar units to this one. You will find my actual best buys for three bedroom units above where I detail the inventory for each of the towers.

Substantial Buyer Incentives on Interior Courtyard Three Bedroom Units

One of the things that I like most about the interior courtyard units versus the ones that are at the front of the building is that they are much more protected from the prevailing trade winds and occasional Kona winds that do affect the Honua Kai Resort.

I'd like to bring your attention to Hokulani #929 as I just recently helped a Canadian client of mine purchasing the unit three floors down from this one at Hokulani #629. Read about their personal experience: Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000.

Hokulani 629 View

The view from the front lanai at Hokulani #629. A slightly improved view is available from Hokulani #829 offered for $2,167,450 down from $2,399,900 and Hokulani #929 offered for $2,214,950 down from $2,499,900.

This particular floorplan, which is referred to as the D-1 floorplan, is a very good use of overall space at just about 1,600 interior sq.ft. with 3 full bedrooms and 3 full bathrooms. This is the particular floorplan that they will be offering the back end sales concessions, which are pretty substantial when taking everything into account. Please do reach out to me directly about these buyer incentives.

Entire Developer Price Lists of Reductions

There are a number of substantial price reductions on units on interior courtyard locations in both the Hokulani (above) and Konea towers. There are also quite a few units still for sale on the exteriors of each buildings and are generally at a lower price point. For a complete list of all the price reductions please reach out to me directly and I will provide this in addition my recommended best buys based on your needs/wants and comfortable budget.

Inner Courtyard Views

Here is what one of my buyer clients had to say about my representation of their efforts on one of these newly reduced units at Honua Kai:

Jeremy,

I want to thank you for everything that you have done thus far for my wife and I. I am so glad that I viewed your website and eventually contacted you. I have built my entire career on providing timely responses to my clients questions and concerns. You have definitely mastered this art.

I must admit that its a bit scary considering the purchase of real estate without being there to view things. You have gone out of your way in answering all of our questions. You have a good contact list of bankers and property managers that you were able to connect me with.

The information that I was able to obtain was exactly what I was looking for. I can’t tell you enough how important the videos were that you sent us. No request or question went unanswered. When my wife was concerned about the direction the condo was facing and what type of sunlight we could expect, you quickly went to the property and sent us a video of the location of the sunrise and sunset. In fact, you took the video from the unit across from the one we were considering to give us a better prospective.

The extra mile that you took in servicing us has meant a lot to us. That extra mile has allowed us to feel 100% confident in our decision to purchase a unit at Honua Kai. Thanks again for everything!!

Resale vs. Developer Inventory at Honua Kai

The resale market at Honua Kai has been very hot as of late Honua Kai March 2013 Market Update Report, and we are starting to see some pretty substantial price increases on select units. The lowest priced developer unit starts at $639,900 for a partial ocean view studio (one of three developer studio units remaining).

The lowest priced resale unit on the market right now is a partial ocean view studio priced at $649,000. For a complete look at all the resale inventory be sure to check out my gallery: Honua Kai Resale Inventory Property Gallery.

Aloha from Maui,

Jeremy Stice REALTOR (Broker)
Stice@HawaiiLife.com
808.281.2178

My Blog Series on Honua Kai Condos

  1. Honua Kai Resort in Kaanapali, Maui – Start here, as this blog will provide you with a good overview of the resort including video on its location, and its world class amenities and ownership offerings.
  2. Honua Kai Resort Real Estate For Sale – Kaanapali, Maui Condos For Sale – This post focuses on the inventory actively for sale and where all the units are located.
  3. Honua Kai March 2013 Market Update Report – There has been a significant increase in the level of sales for two bedroom units at the resort. Read all about it here.
  4. One Bedroom/One Bath Mountain View Unit at Honua Kai Sold for $525,000- Congratulations to the Kojima Ohana on their recent resale purchase at Honua Kai.
  5. 5 Remaining One Bedroom Plus Den Units for Sale at Honua Kai – They are sold out of developer one bedroom units but check out this video blog for this niche units starting in the high $700k range.
  6. Honua Kai 2 Bedroom/2 Bath Condo Sold a Seller’s Perspective – What our seller client had to say about our team selling their property for a $135,000 short term gain.
  7. 2 Bedroom Ocean View Best Buys at the Honua Kai Resort and Spa – Feb ’13 post on the best ocean view and partial ocean view two bedroom units.
  8. 4 New One Bedroom Listings at Honua Kai – Posted on January 2013 be sure to check out these best buys priced under $550K
  9. Honua Kai January 2013 Market Update – What’s happening in the new year at Honua Kai? Are prices increasing?
  10. Honua Kai HOA Fees Increasing By 10% Effective Feb. 1, 2013 – What are the current fees, what do they cover, and what other costs of ownership are involved?
  11. 25% Down Payment Financing Options at Honua Kai – Get the inside track on leveraging your cash investments at Honua Kai.
  12. Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000 – Did you know that many of the owners at Honua Kai are from Canada?
  13. Honua Kai November 2012 Market Update – The latest news after a crazy year of selling
  14. Honua Kai January 2012 Update – Why Honua Kai is the hottest deal in town right now
  15. Honua Kai Purchase Process – An owner’s perspective of purchasing and experiencing the resort.
  16. 35% Price Reductions on Condos For Sale at Honua Kai Resort – Read about how the developer dramatically slashed the prices at Honua Kai and where some of the best deals are at.
  17. Price Reductions on Honua Kai Resort One Bedroom Units – Video blog on 1-bedroom units that are Screaming Deals.
  18. Honua Kai Resort in Kaanapali – Best Two Bedroom Deals – Video blog on 2-bedroom units that are Screaming Deals.