August 2011 - REALTORS® Association of Maui, Inc.
August 2011 - REALTORS® Association of Maui, Inc.
August 2011 - REALTORS® Association of Maui, Inc.
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September 8, <strong>2011</strong><br />
Aloha all!<br />
Attached are the <strong>Maui</strong> <strong>August</strong> <strong>2011</strong> Sales Statistics<br />
441 Ala Makani Place<br />
Kahului, <strong>Maui</strong>, HI 96732-3507<br />
Phone: 808-873-8585 ~ Fax: 808-871-8911<br />
Direct: 808-270-4646<br />
E-mail: Terry@RA<strong>Maui</strong>.com<br />
Brief <strong>Maui</strong> Statistics Overview:<br />
Pages 4 - <strong>August</strong>'s Sales Volume – <strong>August</strong>’s Residential Sales rose to 81 homes sold, while Condo<br />
Sales declined to 86 units sold. Land sales came in at 11 lots sold.<br />
Page 5 - <strong>August</strong>'s Median SALES prices – Home median prices held steady at $410,000, while Condo<br />
median prices declined to $266,000. Land median price was $180,000.<br />
Page 6 - Days on Market for Residential homes = 136 DOM, Condos = 179 DOM, Land = 80 DOM.<br />
(General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD<br />
inventory sells, it can move this indicator upward, and vice versa. RAM's Days on Market are calculated<br />
from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days <strong>of</strong> escrow<br />
time.) Also – Short Sales transactions can <strong>of</strong>ten take 4-6 months to close thereby extending the<br />
marketplace’s average DOM.<br />
Pages 10 - 14 – "Year to Date Sales" numbers only compare January-<strong>August</strong> <strong>2011</strong> to January-<br />
<strong>August</strong> 2010. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends.<br />
2010's Year End (Dec. 2010) figures are available at:<br />
http://www.ramaui.com/UserFiles/File/Stats/All-Dec2010.pdf<br />
Year to Date: Comparing January-<strong>August</strong> <strong>2011</strong> to January-<strong>August</strong> 2010 –<br />
Residential unit sales rose (+6%), average sold price = $792,210 (+5%), median price = $435,000<br />
(-6%) and total dollar volume sold = $268,988,206 (+11%).<br />
Condo unit sales increased (+1%), average sold price = $516,537 (-28%), median price = $314,500<br />
(-22%). Total Condo dollar volume sold = $428,725,338 (-27%).<br />
Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are<br />
not necessarily reliable indicators. Land lot sales increased (+2%), average sold price = $640,197<br />
(+24%), median price = $300,000 (-33%), Total dollar volume = $60,818,751 (+27%).<br />
Also, total sales for immediately past 12 months: Residential = 849, Condo = 1,160, Land = 128.<br />
Sept. 8, <strong>2011</strong> - Active/Pending/Contingent status inventory:<br />
Sept. Aug. July June May April Mar. Feb. Jan. Dec. Nov. Oct. Sept.<br />
Homes 840 871 869 917 935 958 964 953 963 974 976 1,001 981<br />
Condos 1,119 1,120 1,124 1,159 1,203 1,305 1,331 1,379 1,383 1,371 1,347 1,394 1,455<br />
Land 528 531 515 532 547 554 557 566 569 601 596 601 620<br />
Current Absorption Rate base on this month’s Active inventory divided by <strong>August</strong> Sales is:<br />
Residential = 10.4 months, Condo = 13 months, Land = 48 months (or 4 years).<br />
Overview Page 1 <strong>of</strong> 2
IN A NUT SHELL......<br />
the good, the bad….. AND THE ROAD AHEAD ……<br />
Strong buyer-showing activity is now evidenced in actual reported sales, with multiple <strong>of</strong>fers competing for wellpriced<br />
properties. Inventories have declined 13-23% over the past 12 months. Many short sales and REO (bank<br />
owned) properties will need to be absorbed as sales before we can move ahead to a more normal marketplace.<br />
Interest Rates are remaining near historic record lows which may help motivate would-be Buyers to go ahead and<br />
buy IF they can qualify. Current World and US events will have ripple effects on cost <strong>of</strong> living, consumer<br />
confidence, and our Real Estate Market.<br />
FOR SELLERS: Sellers who don’t really need to sell (just “fishing?”) should stay <strong>of</strong>f the market, and clear the<br />
marketplace for those who REALLY have to sell. UNLESS- you are motivated to Upsize, Downsize or<br />
Upgrade – While selling now will net less, your next property will cost less. Sharpen your pencil, talk to<br />
your CPA and Realtor® to explore the hidden benefits or consequences. Make no assumptions that will<br />
sting later.<br />
To be successful, Sellers need to beat competing properties with better property condition, REALISTIC pricing,<br />
good marketing, and flexible, creative terms (Seller Second Loan, Agreement <strong>of</strong> Sale, Lease-with-option-to-buy,<br />
and Sale-with-lease-back to seller). Days on Market figures show that properties priced right will sell in a<br />
reasonable timeframe. “Priced Right” is still the determining factor.<br />
BEST Deals are selling, everything else is getting old.<br />
Pro-Active Sellers are getting their properties appraised, inspected and surveyed in advance to encourage<br />
knowledgeable <strong>of</strong>fers from realistic Buyers. This can prevent unanticipated escrow fallout or Buyers whittling your<br />
price down during the transaction when previously unknown facts come to light. Unrealistic Sellers continue to<br />
be ignored by the market and miss current opportunities that later become woefully apparent. They may even<br />
end up in a Short Sale or Foreclosure situation that could have been avoided.<br />
FOR BUYERS: Low interest rates may start to inch up. Buyers should get Pre-Approved so they can shop in<br />
confidence (fewer last minute disappointments due to non-funding loans).<br />
More "short-sales" and foreclosures are happening in the marketplace, yet they can be less <strong>of</strong> a bargain than they<br />
seem, requiring more hurdles to leap and more time (<strong>of</strong>ten 4-6 months) to close, if at all.<br />
Be prepared, but BE REALISTIC. Lenders are much more stringent on requirements for loan approval.<br />
First-Time Home Buyers – Many programs are available….. Attend a First-Time Home Buyers workshop, get<br />
familiar with the process, get qualified/approved, do your homework to get your own home. Many current owners<br />
never thought they would be able to own until they attended a workshop, discovered they could own a home,<br />
and are glad they did.<br />
This low point in the market is your rare chance, so check it out carefully.<br />
Disclaimer: Zooming in on the figures <strong>of</strong> a specific geographic area or property type may lead to different<br />
conclusions that looking at the overall view.<br />
<strong>Maui</strong>'s market place is much smaller than Oahu's, and a few high or low sales have a greater effect on the<br />
statistical numbers without necessarily indicating a big market swing one way or another.<br />
For questions regarding today’s market, please call our RAM <strong>2011</strong> President, Sarah Sorenson at<br />
808-283-3969.<br />
If you have any questions regarding hard numbers, call Terry at 808-270-4646.<br />
Mahalo,<br />
Terry Tolman<br />
RAM Chief Staff Executive<br />
Overview Page 2 <strong>of</strong> 2
Single Family Monthly Sales Volume<br />
For Month Ending 8/31/<strong>2011</strong><br />
Area Name<br />
Current Month<br />
Units Volume Median<br />
Previous Month<br />
Units Volume Median<br />
Year Ago Month<br />
Units Volume Median<br />
Central 30 $11,443,800 $348,500 18 $7,142,051 $358,500 26 $12,516,600 $430,000<br />
Haiku 6 $4,091,000 $583,000 4 $6,141,000 $1,425,000 6 $4,171,300 $640,500<br />
Kaanapali 3 $4,286,500 $1,400,000 3 $4,435,000 $1,300,000 3 $3,449,500 $800,000<br />
Kapalua 0 $0 $0 2 $7,360,000 $3,680,000 2 $8,900,000 $4,450,000<br />
Keanae 0 $0 $0 0<br />
$0 $0 1 $450,000 $450,000<br />
Kihei 16 $8,080,825 $334,550 13 $5,271,501 $385,000 6 $3,243,500 $512,250<br />
Kula/Ulupalakua/Kanaio 7 $4,546,000 $618,000 5 $3,389,000 $750,000 8 $6,191,000 $712,000<br />
Lahaina 0 $0 $0 4 $3,142,100 $841,050 4 $1,969,100 $449,550<br />
Lanai 1 $397,500 $397,500 3 $779,000 $270,000 1 $1,500,000 $1,500,000<br />
Makawao/Olinda/Haliimaile 0 $0 $0 3 $1,183,000 $293,000 1 $550,000 $550,000<br />
<strong>Maui</strong> Meadows 4 $3,879,250 $954,000 1 $740,000 $740,000 0 $0 $0<br />
Molokai 2 $445,000 $222,500 0<br />
$0 $0 0 $0 $0<br />
Napili/Kahana/Honokowai 3 $1,513,500 $479,000 6 $2,679,900 $367,500 1 $362,000 $362,000<br />
Pukalani 4 $1,694,078 $414,539 2 $705,000 $352,500 8 $3,318,900 $391,000<br />
Sprecklesville/Paia/Kuau 3 $10,856,000 $975,000 2 $528,000 $264,000 2 $1,193,500 $596,750<br />
Wailea/Makena 2 $20,631,167 $10,315,584 2 $29,100,000 4,550,000 0 $0 $0<br />
<strong>Maui</strong> Summary : 81 $71,864,620 $410,000 68 $72,595,552 $394,500 69 $47,815,400 $460,000<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 1
Condominium Monthly Sales Volume<br />
For Month Ending 8/31/<strong>2011</strong><br />
Area Name<br />
Current Month<br />
Units Volume Median<br />
Previous Month<br />
Units Volume Median<br />
Year Ago Month<br />
Units Volume Median<br />
Central 15 $2,444,878 $180,000 8 $1,180,940 $116,975 14 $2,021,190 $141,250<br />
Hana 0 $0 $0 1 $570,000 $570,000 0 $0 $0<br />
Kaanapali 7 $6,006,800 $784,900 13 $10,087,000 $575,000 13 $14,254,500 $709,800<br />
Kapalua 4 $7,777,062 $1,950,000 2 $1,160,000 $580,000 3 $7,000,000 $840,000<br />
Kihei 30 $8,067,724 $230,000 31 $8,616,080 $236,000 27 $7,539,275 $245,000<br />
Lahaina 9 $3,164,862 $357,000 12 $4,173,396 $338,500 1 $100,000 $100,000<br />
Lanai 0 $0 $0 0<br />
$0 $0 1 $1,850,000 $1,850,000<br />
Maalaea 2 $630,000 $315,000 7 $2,228,900 $150,000 3 $805,500 $225,000<br />
Molokai 2 $284,050 $142,025 1 $90,000 $90,000 0 $0 $0<br />
Napili/Kahana/Honokowai 9 $1,786,000 $231,000 16 $5,297,500 $221,500 13 $4,894,000 $360,000<br />
Pukalani 0 $0 $0 1 $349,000 $349,000 0 $0 $0<br />
Wailea/Makena 8 $18,982,500 $1,122,500 6 $5,510,000 $740,000 6 $10,034,990 $795,000<br />
<strong>Maui</strong> Summary : 86 $49,143,876 $266,000 98 $39,262,816 $320,000 81 $48,499,455 $310,000<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 2
Land Monthly Sales Volume<br />
For Month Ending 8/31/<strong>2011</strong><br />
Area Name<br />
Current Month<br />
Units Volume Median<br />
Previous Month<br />
Units Volume Median<br />
Year Ago Month<br />
Units Volume Median<br />
Central 5 $536,000 $125,000 3 $1,068,400 $125,000 2 $435,000 $217,500<br />
Haiku 0 $0 $0 2 $1,035,000 $517,500 1 $255,000 $255,000<br />
Kaanapali 1 $280,000 $280,000 1 $280,000 $280,000 0 $0 $0<br />
Kahakuloa 0 $0 $0 1 $180,000 $180,000 0 $0 $0<br />
Kapalua 0 $0 $0 1 $900,000 $900,000 1 $725,000 $725,000<br />
Kihei 0 $0 $0 0<br />
$0 $0 1 $639,000 $639,000<br />
Kipahulu 1 $1,825,000 $1,825,000 0<br />
$0 $0 0 $0 $0<br />
Kula/Ulupalakua/Kanaio 1 $6,250,000 $6,250,000 2 $944,000 $472,000 0 $0 $0<br />
Lahaina 0 $0 $0 2 $2,075,000 $1,037,500 0 $0 $0<br />
Makawao/Olinda/Haliimaile 1 $230,000 $230,000 0<br />
$0 $0 0 $0 $0<br />
Molokai 2 $295,000 $147,500 1 $29,000 $29,000 0 $0 $0<br />
Pukalani 0 $0 $0 1 $168,000 $168,000 1 $390,000 $390,000<br />
Wailea/Makena 0 $0 $0 0<br />
$0 $0 1 $387,500 $387,500<br />
<strong>Maui</strong> Summary : 11 $9,416,000 $180,000 14 $6,679,400 $340,000 7 $2,831,500 $387,500<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 3
Sales Volume By Month<br />
For Month Ending 8/31/<strong>2011</strong><br />
180<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
Jan-06<br />
Mar-06<br />
May-06<br />
2006<br />
Jul-06<br />
Sep-06<br />
Nov-06<br />
Jan-07<br />
Mar-07<br />
May-07<br />
Jul-07<br />
Sep-07<br />
Nov-07<br />
Jan-08<br />
Mar-08<br />
2007<br />
May-08<br />
Jul-08<br />
Sep-08<br />
Con Lnd Re s<br />
2008<br />
Nov-08<br />
Jan-09<br />
Mar-09<br />
May-09<br />
Jul-09<br />
Sep-09<br />
Nov-09<br />
Jan-10<br />
Mar-10<br />
2009<br />
2010<br />
May-10<br />
Jul-10<br />
Sep-10<br />
Nov-10<br />
Jan-11<br />
Mar-11<br />
May-11<br />
Jul-11<br />
<strong>2011</strong><br />
Month<br />
Single<br />
Family<br />
Condo Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Jan<br />
86 130 28<br />
106 99 15<br />
57 89 7<br />
31 108 3<br />
48 75 12<br />
54 87 9<br />
Feb<br />
60 119 34<br />
104 84 30<br />
76 95 24<br />
34 84 6<br />
54 95 7<br />
59 98 7<br />
Mar<br />
107 144 39<br />
131 95 17<br />
95 92 10<br />
56 67 14<br />
72 125 12<br />
89 125 11<br />
Apr<br />
72 117 21<br />
96 117 26<br />
78 94 8<br />
50 41 11<br />
91 162 15<br />
89 120 14<br />
May<br />
87 137 15<br />
101 111 29<br />
97 84 9<br />
60 52 8<br />
81 105 16<br />
71 114 15<br />
Jun<br />
87 112 25<br />
112 113 26<br />
76 56 11<br />
65 55 8<br />
81 106 9<br />
81 102 14<br />
Jul<br />
88 84 16<br />
86 99 13<br />
97 63 7<br />
59 78 12<br />
61 69 15<br />
68 98 14<br />
Aug<br />
100 69 20<br />
83 115 10<br />
66 51 6<br />
53 66 3<br />
69 81 7<br />
81 86 11<br />
Sep<br />
63 74 13<br />
74 84 16<br />
66 50 7<br />
54 63 10<br />
65 98 7<br />
Oct<br />
86 93 13<br />
80 112 17<br />
81 49 4<br />
74 61 8<br />
64 73 6<br />
Nov<br />
117 77 11<br />
83 86 16<br />
66 29 4<br />
67 70 17<br />
58 66 7<br />
Dec<br />
129 93 17<br />
87 73 14<br />
55 38 2<br />
90 81 11<br />
73 93 14<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sales data - Information deemed reliable, however not guaranteed Page 4
Sales Median By Month<br />
For Month Ending 8/31/<strong>2011</strong><br />
$1,000,000<br />
$900,000<br />
$800,000<br />
$700,000<br />
$600,000<br />
$500,000<br />
$400,000<br />
$300,000<br />
$200,000<br />
$100,000<br />
$0<br />
Jan-06<br />
Apr-06<br />
Jul-06<br />
Oct-06<br />
Jan-07<br />
Apr-07<br />
Jul-07<br />
Oct-07<br />
Jan-08<br />
Apr-08<br />
Jul-08<br />
Oct-08<br />
Jan-09<br />
Apr-09<br />
Jul-09<br />
Oct-09<br />
Jan-10<br />
Apr-10<br />
Jul-10<br />
Oct-10<br />
Jan-11<br />
Apr-11<br />
Jul-11<br />
Oct-11<br />
Con Lnd Res<br />
Month<br />
Jan<br />
Single<br />
Family<br />
2006<br />
Condo<br />
Land<br />
690500 433872 430000<br />
Single<br />
Family<br />
2007<br />
Condo<br />
Land<br />
602000 600000 700000<br />
Single<br />
Family<br />
2008<br />
Condo<br />
Land<br />
Single<br />
Family<br />
2009<br />
Condo<br />
Land<br />
563225 610000 600000 558000 805000 70000<br />
Single<br />
Family<br />
2010<br />
Condo<br />
Land<br />
464500 404000 516300<br />
Single<br />
Family<br />
<strong>2011</strong><br />
Condo<br />
Land<br />
495415 295000 300000<br />
Feb<br />
669500 430100 800000<br />
635000 596000 342000<br />
624391 575000 1195000 545000 692500 262500<br />
504150 424000 350000<br />
440000 371200 282500<br />
Mar<br />
725000 527625 701000<br />
625000 469500 550000<br />
620000 538500 537500 504500 468000 1669250<br />
460000 499000 600000<br />
450000 289000 500000<br />
Apr<br />
May<br />
Jun<br />
Jul<br />
Aug<br />
700000 539000 790000<br />
729000 600000 640000<br />
725000 647000 625000<br />
780000 512500 452500<br />
749500 495000 680000<br />
671000 485000 843750<br />
653746 531325 550000<br />
667000 475000 682500<br />
650000510000 575000<br />
639996 592000 662500<br />
577500 600000 477000 497000 410000 1100000<br />
567000 512500 600000 482500 399000 665000<br />
606000 577500 700000 495000 469000 441000<br />
610000 575000 1025000 532000 417000 322500<br />
645000 625000 422505 500000 371250 999990<br />
465000 450000 540000<br />
442000 410000 547500<br />
480000 435000 360000<br />
500000 390000 400000<br />
460000 310000 387500<br />
500000 338603 382500<br />
418000 349500 275000<br />
429000 294500 302000<br />
394500320000 340000<br />
410000 266000 180000<br />
Sep<br />
769000 4945001450000<br />
586000 599000450000<br />
537500 388500290500<br />
440000 307500712500<br />
440000 315635285000<br />
Oct<br />
650000 515000 700000<br />
591000 552000 450000<br />
510000 385000 590000 488500 400842 382450<br />
427500 320000 207500<br />
Nov<br />
609881 575000 460000<br />
631900 640156 465000<br />
475500 399000 507140 465000 399000 450000<br />
445000 349990 425000<br />
Dec<br />
625205 525000 767472<br />
582002 626000 650000<br />
570000 517000 2171300 477000 399000 420000<br />
460000 352000 394850<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sales data - Information deemed reliable, however not guaranteed Page 5
Sales Days on Market By Month<br />
For Month Ending 8/31/<strong>2011</strong><br />
700<br />
600<br />
500<br />
400<br />
300<br />
200<br />
100<br />
0<br />
Jan-06<br />
Apr-06<br />
Jul-06<br />
Oct-06<br />
Jan-07<br />
Apr-07<br />
Jul-07<br />
Oct-07<br />
Jan-08<br />
Apr-08<br />
Jul-08<br />
Oct-08<br />
Jan-09<br />
Apr-09<br />
Jul-09<br />
Oct-09<br />
Jan-10<br />
Apr-10<br />
Jul-10<br />
Oct-10<br />
Jan-11<br />
Apr-11<br />
Jul-11<br />
Oct-11<br />
Con Lnd Re s<br />
2006<br />
2007<br />
2008<br />
2009<br />
2010<br />
<strong>2011</strong><br />
Month<br />
Single<br />
Family<br />
Condo Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Single<br />
Family<br />
Condo<br />
Land<br />
Jan<br />
Feb<br />
121 102 558<br />
130 144 75<br />
113 180 162<br />
138 174 432<br />
151 223 379<br />
134 141 679<br />
176 1126 496<br />
199 1152 228<br />
224 247 248<br />
127 229 351<br />
112 180 240<br />
147 192 180<br />
Mar<br />
Apr<br />
May<br />
Jun<br />
Jul<br />
Aug<br />
Sep<br />
134 126 104<br />
108 121 152<br />
121 136 204<br />
123 151 133<br />
131 127 224<br />
125 126 153<br />
129 128 337<br />
150 152 230<br />
167 145 197<br />
158 153 184<br />
186 152 314<br />
146 161 147<br />
112 175 203<br />
137 157 231<br />
162 176 137<br />
138 175 164<br />
183 140 227<br />
154 147 180<br />
167 167 218<br />
209 138 174<br />
174 164 217<br />
163 191 108<br />
137 211 195<br />
150 127 337<br />
111 115 300<br />
212 190 230<br />
159 216 427<br />
158 135 185<br />
138 233 230<br />
153 179 162<br />
132 192 200<br />
131 184 174<br />
119 132 292<br />
118 202 124<br />
122 129 169<br />
150 185 231<br />
146 142 362<br />
138 201 175<br />
141 145 150<br />
150 201 219<br />
136 179 80<br />
Oct<br />
Nov<br />
Dec<br />
116 144 236<br />
162 232 124<br />
145 170 161<br />
165 143 163<br />
163 204 259<br />
176 200 181<br />
158 186 93<br />
142 160 312<br />
159 169 88<br />
190 143 384<br />
168 192 284<br />
154 175 111<br />
181 141 220<br />
166 147 196<br />
153 172 190<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 6
Single Family Median Prices by Area<br />
For Month Ending 8/31/<strong>2011</strong><br />
Current Month Information<br />
Central<br />
Haiku<br />
Kaanapali<br />
Kapalua<br />
Keanae<br />
Kihei<br />
Kula/Ulupalakua/ Kanaio<br />
Lahaina<br />
Lanai<br />
M akawao/Olinda/Haliimaile<br />
M aui M eadows<br />
Molokai<br />
Napili/Kahana/Honokowai<br />
Pukalani<br />
Sprecklesville/Paia/Kuau<br />
Wailea/ M akena<br />
0 250,000 500,000 750,000 1,000,000 1,250,000 1,500,000 1,750,000 2,000,000<br />
Area Current Month Previous Month Year Ago Month<br />
Central<br />
$348,500 $358,500 $140,000<br />
Haiku<br />
$583,000 $1,425,000 $640,500<br />
Kaanapali<br />
$1,400,000 $1,300,000 $800,000<br />
Kapalua<br />
$0 $3,680,000 $4,450,000<br />
Keanae<br />
$0 $0 $450,000<br />
Kihei<br />
$334,550 $385,000 $512,250<br />
Kula/Ulupalakua/Kanaio<br />
$618,000 $750,000 $712,000<br />
Lahaina<br />
$0 $841,050 $449,550<br />
Lanai<br />
$397,500 $270,000 $1,500,000<br />
Makawao/Olinda/Haliimaile<br />
$0 $293,000 $550,000<br />
<strong>Maui</strong> Meadows<br />
$954,000 $740,000 $0<br />
Molokai<br />
$222,500 $0 $0<br />
Napili/Kahana/Honokowai<br />
$479,000 $367,500 $362,000<br />
Pukalani<br />
$414,539 $352,500 $391,000<br />
Sprecklesville/Paia/Kuau<br />
$975,000 $264,000 $596,750<br />
Wailea/Makena<br />
$10,315,584 $14,550,000 $0<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 7
Condominium Median Prices by Area<br />
For Month Ending 8/31/<strong>2011</strong><br />
Current Month Information<br />
$2,500,000<br />
$2,000,000<br />
$1,500,000<br />
$1,000,000<br />
$500,000<br />
$0<br />
Central<br />
Hana<br />
Kaanapali<br />
Kapalua<br />
Kihei<br />
Lahaina<br />
Lanai<br />
Maalaea<br />
Molokai<br />
Napili/Kahana/Honokowai<br />
Pukalani<br />
Wailea/Makena<br />
Area Current Month Previous Month Year Ago Month<br />
Central<br />
$180,000 $116,975 $141,250<br />
Hana<br />
$0 $570,000 $0<br />
Kaanapali<br />
$784,900 $575,000 $709,800<br />
Kapalua<br />
$1,950,000 $580,000 $840,000<br />
Kihei<br />
$230,000 $236,000 $245,000<br />
Lahaina<br />
$357,000 $338,500 $100,000<br />
Lanai<br />
$0 $0 $1,850,000<br />
Maalaea<br />
$315,000 $150,000 $225,000<br />
Molokai<br />
$142,025 $90,000 $0<br />
Napili/Kahana/Honokowai<br />
$231,000 $221,500 $360,000<br />
Pukalani<br />
$0 $349,000 $0<br />
Wailea/Makena<br />
$1,122,500 $740,000 $795,000<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 8
Land Median Prices by Area<br />
For Month Ending 8/31/<strong>2011</strong><br />
Current Month Information<br />
Central<br />
Haik u<br />
Kaanapali<br />
Kahak uloa<br />
Kapalua<br />
Kihe i<br />
Kipahulu<br />
Kula/Ulupalakua/Kanaio<br />
Lahaina<br />
Makawao/Olinda/Haliimaile<br />
Molokai<br />
Pukalani<br />
Wailea/Makena<br />
$0 $200,000 $400,000 $600,000 $800,000 $1,000,000<br />
Area Current Month Previous Month Year Ago Month<br />
Central<br />
Haiku<br />
Kaanapali<br />
Kahakuloa<br />
Kapalua<br />
Kihei<br />
Kipahulu<br />
Kula/Ulupalakua/Kanaio<br />
Lahaina<br />
Makawao/Olinda/Haliimaile<br />
Molokai<br />
Pukalani<br />
Wailea/Makena<br />
$125,000 $125,000 $217,500<br />
$0 $517,500 $255,000<br />
$280,000 $280,000 $0<br />
$0 $180,000 $0<br />
$0 $900,000 $725,000<br />
$0 $0 $639,000<br />
$1,825,000 $0 $0<br />
$6,250,000 $472,000 $0<br />
$0 $1,037,500 $0<br />
$230,000 $0 $0<br />
$147,500 $29,000 $0<br />
$0 $168,000 $390,000<br />
$0 $0 $387,500<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteedc Page 9
Single Family Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 8/31/<strong>2011</strong> with 1/1/2010 thru 8/31/2010<br />
Number <strong>of</strong> Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Central 180 181 -1 -1% $393,623 $434,877 -9% $375,000 $430,000 -13% $70,852,149 $78,712,807 -10%<br />
Haiku 32 33 -1 -3% $815,850 $644,024 27% $673,000 $525,300 28% $26,107,200 $21,252,800 23%<br />
Hana 1 2 -1 -50% $208,550 $705,000 -70% $208,550 $705,000 -70% $208,550 $1,410,000 -85%<br />
Kaanapali 26 18 8 44% $1,350,481 $1,334,972 1% $1,150,000 $1,032,500 11% $35,112,500 $24,029,500 46%<br />
Kapalua 9 7 2 29% $4,663,611 $4,067,857 15% $2,850,000 $3,000,000 -5% $41,972,500 $28,475,000 47%<br />
Keanae 0 1 -1 -100% $0 $450,000 -100% $0 $450,000 -100% $0 $450,000 -100%<br />
Kihei 103 96 7 7% $515,620 $552,623 -7% $400,000 $450,000 -11% $53,108,903 $53,051,842 0%<br />
Kula/Ulupalakua/Kanaio 46 40 6 15% $733,693 $765,851 -4% $558,000 $537,500 4% $33,749,890 $30,634,056 10%<br />
Lahaina 24 29 -5 -17% $1,014,525 $862,464 18% $722,500 $475,000 52% $24,348,600 $25,011,450 -3%<br />
Lanai 8 5 3 60% $306,938 $562,600 -45% $275,000 $268,000 3% $2,455,500 $2,813,000 -13%<br />
Makawao/Olinda/Haliimaile 34 28 6 21% $423,260 $581,480 -27% $325,000 $399,500 -19% $14,390,850 $16,281,450 -12%<br />
<strong>Maui</strong> Meadows 17 13 4 31% $943,259 $996,338 -5% $770,000 $700,000 10% $16,035,400 $12,952,400 24%<br />
Molokai 13 5 8 160% $365,490 $653,200 -44% $315,000 $450,000 -30% $4,751,375 $3,266,000 45%<br />
Nahiku 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A<br />
Napili/Kahana/Honokowai 27 19 8 42% $1,075,005 $843,400 27% $600,000 $650,000 -8% $29,025,136 $16,024,600 81%<br />
Olowalu 1 0 1 N/A $414,000 $0 N/A $414,000 $0 N/A $414,000 $0 N/A<br />
Pukalani 39 47 -8 -17% $528,215 $485,421 9% $475,000 $425,000 12% $20,600,386 $22,814,800 -10%<br />
Sprecklesville/Paia/Kuau 18 13 5 38% $1,206,061 $597,462 102% $567,000 $550,000 3% $21,709,100 $7,767,000 180%<br />
Wailea/Makena 14 20 -6 -30% $5,296,155 $3,847,900 38% $2,375,000 $1,699,500 40% $74,146,167 $76,958,000 -4%<br />
<strong>Maui</strong> Summary:<br />
592 557 35 6% $792,210 $757,459 5% $435,000 $465,000 -6% $468,988,206 $421,904,705 11%<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 10
Condominium Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 8/31/<strong>2011</strong> with 1/1/2010 thru 8/31/2010<br />
Number <strong>of</strong> Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Central 89 68 21 31% $198,409 $200,486 -1% $190,000 $182,000 4% $17,658,406 $13,633,020 30%<br />
Hana 1 0 1 N/A $570,000 $0 N/A $570,000 $0 N/A $570,000 $0 N/A<br />
Kaanapali 95 204 -109 -53% $822,157 $1,266,118 -35% $650,000 $824,125 -21% $78,104,950 $258,288,148 -70%<br />
Kapalua 20 19 1 5% $1,301,318 $1,620,316 -20% $647,000 $840,000 -23% $26,026,362 $30,786,000 -15%<br />
Kihei 297 262 35 13% $299,788 $336,673 -11% $237,000 $275,000 -14% $89,037,101 $88,208,303 1%<br />
Lahaina 56 38 18 47% $447,569 $400,738 12% $351,500 $398,000 -12% $25,063,837 $15,228,050 65%<br />
Lanai 7 2 5 250% $1,303,557 $1,155,000 13% $1,050,400 $1,155,000 -9% $9,124,900 $2,310,000 295%<br />
Maalaea 30 28 2 7% $320,535 $370,973 -14% $287,075 $316,250 -9% $9,616,050 $10,387,250 -7%<br />
Molokai 10 13 -3 -23% $134,645 $146,231 -8% $125,500 $160,000 -22% $1,346,450 $1,901,000 -29%<br />
Napili/Kahana/Honokowai 142 107 35 33% $296,788 $344,052 -14% $257,250 $311,900 -18% $42,143,894 $36,813,600 14%<br />
Pukalani 4 1 3 300% $340,500 $380,500 -11% $346,500 $380,500 -9% $1,362,000 $380,500 258%<br />
Wailea/Makena 79 76 3 4% $1,628,752 $1,668,641 -2% $945,000 $967,500 -2% $128,671,388 $126,816,709 1%<br />
<strong>Maui</strong> Summary:<br />
830 818 12 1% $516,537 $714,856 -28% $314,500 $405,500 -22% $428,725,338 $584,752,580 -27%<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 11
Fee Simple Condominium Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 8/31/<strong>2011</strong> with 1/1/2010 thru 8/31/2010<br />
Number <strong>of</strong> Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Central 89 68 21 31% $198,409 $200,486 -1% $190,000 $182,000 4% $17,658,406 $13,633,020 30%<br />
Hana 1 0 1 N/A $570,000 $0 N/A $570,000 $0 N/A $570,000 $0 N/A<br />
Kaanapali 87 199 -112 -56% $861,793 $1,289,157 -33% $662,000 $835,000 -21% $74,975,950 $256,542,148 -71%<br />
Kapalua 20 19 1 5% $1,301,318 $1,620,316 -20% $647,000 $840,000 -23% $26,026,362 $30,786,000 -15%<br />
Kihei 297 259 38 15% $299,788 $336,422 -11% $237,000 $269,000 -12% $89,037,101 $87,133,303 2%<br />
Lahaina 55 36 19 53% $454,942 $418,328 9% $353,000 $402,000 -12% $25,021,837 $15,059,800 66%<br />
Lanai 7 2 5 250% $1,303,557 $1,155,000 13% $1,050,400 $1,155,000 -9% $9,124,900 $2,310,000 295%<br />
Maalaea 17 18 -1 -6% $429,715 $441,903 -3% $399,000 $405,000 -1% $7,305,150 $7,954,250 -8%<br />
Molokai 8 12 -4 -33% $152,563 $153,000 0% $168,000 $160,000 5% $1,220,500 $1,836,000 -34%<br />
Napili/Kahana/Honokowai 109 89 20 22% $321,890 $373,080 -14% $265,000 $330,000 -20% $35,085,994 $33,204,100 6%<br />
Pukalani 4 1 3 300% $340,500 $380,500 -11% $346,500 $380,500 -9% $1,362,000 $380,500 258%<br />
Wailea/Makena 79 76 3 4% $1,628,752 $1,668,641 -2% $945,000 $967,500 -2% $128,671,388 $126,816,709 1%<br />
<strong>Maui</strong> Summary:<br />
773 779 -6 -1% $538,240 $738,968 -27% $330,000 $424,000 -22% $416,059,588 $575,655,830 -28%<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 12
Leasehold Condominium Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 8/31/<strong>2011</strong> with 1/1/2010 thru 8/31/2010<br />
Number <strong>of</strong> Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Kaanapali 8 5 3 60% $391,125 $349,200 12% $294,500 $355,000 -17% $3,129,000 $1,746,000 79%<br />
Kihei 0 3 -3 -100% $0 $358,333 -100% $0 $350,000 -100% $0 $1,075,000 -100%<br />
Lahaina 1 2 -1 -50% $42,000 $84,125 -50% $42,000 $84,125 -50% $42,000 $168,250 -75%<br />
Maalaea 13 10 3 30% $177,762 $243,300 -27% $150,000 $234,000 -36% $2,310,900 $2,433,000 -5%<br />
Molokai 2 1 1 100% $62,975 $65,000 -3% $62,975 $65,000 -3% $125,950 $65,000 94%<br />
Napili/Kahana/Honokowai 33 18 15 83% $213,876 $200,528 7% $129,000 $192,500 -33% $7,057,900 $3,609,500 96%<br />
<strong>Maui</strong> Summary:<br />
57 39 18 46% $222,206 $233,250 -5% $167,500 $235,000 -29% $12,665,750 $9,096,750 39%<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 13
Land Year To Date Sales Information<br />
Comparing 1/1/<strong>2011</strong> thru 8/31/<strong>2011</strong> with 1/1/2010 thru 8/31/2010<br />
Number <strong>of</strong> Sales<br />
Average Sales Price<br />
Median Sales Price<br />
Total Dollar Volume<br />
Area<br />
Current<br />
YTD<br />
Sales<br />
Year<br />
Ago<br />
YTD<br />
Changes<br />
Units %<br />
Current<br />
YTD<br />
Average<br />
Year Ago<br />
YTD<br />
Average<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Median<br />
Year Ago<br />
YTD<br />
Median<br />
Percent<br />
Change<br />
Current<br />
YTD<br />
Volume<br />
Year Ago<br />
YTD<br />
Volume<br />
Percent<br />
Change<br />
Central 19 16 3 19% $286,768 $371,893 -23% $140,000 $204,500 -32% $5,448,600 $5,950,280 -8%<br />
Haiku 7 12 -5 -42% $459,286 $388,708 18% $400,000 $417,500 -4% $3,215,000 $4,664,500 -31%<br />
Hana 1 1 0 0% $345,000 $1,390,000 -75% $345,000 $1,390,000 -75% $345,000 $1,390,000 -75%<br />
Kaanapali 15 8 7 88% $455,567 $441,250 3% $500,000 $437,500 14% $6,833,500 $3,530,000 94%<br />
Kahakuloa 4 0 4 N/A $266,354 $0 N/A $252,708 $0 N/A $1,065,415 $0 N/A<br />
Kapalua 5 1 4 400% $906,000 $725,000 25% $950,000 $725,000 31% $4,530,000 $725,000 525%<br />
Keanae 1 0 1 N/A $260,000 $0 N/A $260,000 $0 N/A $260,000 $0 N/A<br />
Kihei 4 2 2 100% $1,432,500 $624,500 129% $330,000 $624,500 -47% $5,730,000 $1,249,000 359%<br />
Kipahulu 1 0 1 N/A $1,825,000 $0 N/A $1,825,000 $0 N/A $1,825,000 $0 N/A<br />
Kula/Ulupalakua/Kanaio 8 6 2 33% $1,157,375 $305,483 279% $442,500 $240,000 84% $9,259,000 $1,832,900 405%<br />
Lahaina 8 22 -14 -64% $989,375 $727,023 36% $950,000 $655,280 45% $7,915,000 $15,994,510 -51%<br />
Lanai 1 0 1 N/A $3,612,500 $0 N/A $3,612,500 $0 N/A $3,612,500 $0 N/A<br />
Makawao/Olinda/Haliimaile 3 5 -2 -40% $262,667 $717,900 -63% $259,000 $565,000 -54% $788,000 $3,589,500 -78%<br />
<strong>Maui</strong> Meadows 0 1 -1 -100% $0 $575,000 -100% $0 $575,000 -100% $0 $575,000 -100%<br />
Molokai 13 8 5 63% $129,518 $219,813 -41% $92,500 $113,250 -18% $1,683,736 $1,758,500 -4%<br />
Nahiku 0 1 -1 -100% $0 $520,000 -100% $0 $520,000 -100% $0 $520,000 -100%<br />
Napili/Kahana/Honokowai 1 0 1 N/A $265,000 $0 N/A $265,000 $0 N/A $265,000 $0 N/A<br />
Pukalani 2 3 -1 -33% $179,000 $285,833 -37% $179,000 $252,500 -29% $358,000 $857,500 -58%<br />
Sprecklesville/Paia/Kuau 0 1 -1 -100% $0 $150,000 -100% $0 $150,000 -100% $0 $150,000 -100%<br />
Wailea/Makena 2 6 -4 -67% $3,842,500 $849,750 352% $3,842,500 $850,500 352% $7,685,000 $5,098,500 51%<br />
<strong>Maui</strong> Summary:<br />
95 93 2 2% $640,197 $514,895 24% $300,000 $450,000 -33% $60,818,751 $47,885,190 27%<br />
SOURCE: REALTORS <strong>Association</strong> <strong>of</strong> <strong>Maui</strong> - www.RA<strong>Maui</strong>.com<br />
MLS Sale data - Information deemed reliable, however not guaranteed Page 14