Real Estate the Valley Isle of Maui
By Justin Eliot

 

 

As the big fertile isthmus between the two volcanoes the island of Maui is often known as 'Valley Isle'. The Alenuihaha Channel separated the Hawaii and Pailolo Channel from Molokai. This land is the 17th largest island of United states and the second largest island of Hawaiian island covering an immense area of about 1883.5 km square.

Before we learn about Maui Real Estate let's discuss some important facts about the place.

• Climate: Half of the island is situated near the coastline so the climate over here has marine influence. There are basically two seasons in a year with mild and uniform temperatures everywhere. Another interesting thing of the island is the island can be differentiating by geographic divergence in rainfall, high humidity, broad cloud formations and frequent trade-wind.

• Economy: The economy of the island is basically build on two industries: agriculture and tourism; These industries have grown fast over here. However government and other industrial sectors are also trying to explode all the natural resources of this land.

• Transport: The Kahului and Kapalua Airport in central and in western Maui is the best air transport facility available in Maui.

A Brief history of this land:

The original populated of this area are the Tahiti and the Marquesas and they introduce a social system known as Kapu system which is the core of the Hawaii Island. But the modern history of this land started from mid 1700s when the king Kamehameha came and settle here after conquering Maui in the fierce Battle of Kepaniwai. Captain James Cook explores this island first on November 26, 1778, but he didn't land in this island because he unable to find the suitable place to land. After that the first European who visited this island was a French admiral Jean François de Galaup de La Pérouse in the year 1786. And there after more and more Europeans comes here to trade and settle in this island.

 

Justin Eliot is freelance author who have vast knowledge on Luxury Homes Maui and Kihei Real Estate.

 

 

The Changing Maui Real Estate Market:

Maui Real Estate

 

Real Estate Market , Maui Hawaii, Current Statistics, Chief Economists Forecast, my Predictions, and today’s pick for Maui Top 10 Buys, which may include the areas of Wailea, Kihei, Wailuku, Kahului, Paia, Haiku, Upcountry, and all of North and West Maui
 
Wow, it’s been an interesting 12 months here in the US !!
In our opinion, based on collective statistics, data, forecasts, and history,
The Real Estate Market on Maui in terms of value could be very similar to the market we will be in immediately following the media’s acknowledgment that “the bottom of the Real Estate Market has come and gone and prices have already begun to rise”, because we all know the media plays a part in the driving force behind our Real Estate and other economic markets. The only difference being that in today’s market often we are bidding down on list prices to purchase property, in tomorrow’s market we will be bidding up. The moral of the story; No one will know when we have reached the bottom of the real estate market, until it’s past.
 
We think the period of adjustment may be nearing an end, for those who have consistently adjusted with the market; it may take a little more time before this is realized on a larger scale. There are still many neighborhoods and/or price ranges that have only begun to adjust. In addition to the some of Maui’s micro-markets that still have a lot of adjusting to do, other aspects of the market are way out of whack, as you can see in the charts attached, the median for Condos and homes are almost identical. Real estate statistics for Maui: July 2008 , August 2008
For the first since January, we have seen a slight uptick in sales.
Single family home sales were at 96 up from 76 last month and 86 a year ago. This is a good sign for single family homeowners. Condominiums on the other hand are only up slightly at 63 from 55, July 07 was at 99. This backs up the theory that condo prices will need to continue correcting. Keep in mind that this is an overall snapshot and there are currently condo properties with incredibly low prices.
My Last market update included a link to see chief economist speak at Realtors association of Maui’s general membership meeting. Paul Brewbaker delivered some great information in regards to Hawaii’s past present and future real estate market in an entertaining way. If you are interested in this link, contact me. The power point with all the graphs and charts from this presentation is now available.
For the full presentation of Hawaii Economic outlook 2008 By chief Economist for Bank of Hawaii, which is very entertaining and informational. We also have available the power point of this presentation, which include the real estate data and charts and graphs.