It is no surprise, Buyers want to purchase low and Sellers want to unleash their properties at the top of the market! So, what is the Maui market currently doing?
At the most recent General Membership Meeting in July 2017, Paul Brewbaker PhD-Economist was invited back to Maui again. Having given economic updates in Hawaii for multiple decades, he has an overwhelming amount of knowledge to share covering the housing & condo trends. In addition to to being a lecturer at the University of Hawaii, Brewbaker is the President of TZ Economics. Brewbaker's predictions and statistics are very favorable for the Maui economy.
The upward trending market will continue to rise till 2020
The Maui Prices were higher in 2014 but more units were sold in 2012, 2013, 2015, & 2016 at a lower dollar amount.
From 2011-2017, Maui’s appreciation has been steady from 6-8 percent increase
To go a step further, Fidelity National Title's information was derived from the Realtors Association of Maui. They took note of the declining number of homes and condominium inventory supply. When looking at the 12 month calculations of August 2017 compared to 2016, the supple of homes are down 10.4% as well as condos at a 22.2% decrease.
According to the Realtor Association of Maui statistics, we are not in a bubble! With healthy and sustainable growth, we are currently seeing a 7 percent market increase each year.
For argument sake, Buyers are going to spend a little more. Because Maui is spectacular and everyone wants to be here, it is not uncommon or unusual to pay additional for quality & lifestyle. A great example, Kaanapali was one of America's Favorite Beaches in an August 31, 2017 article.
Remember, book an appointment with Kimberly Gurgone! Your Maui Realtor is here to assist your family with market data, island living, management of an investment, or a future endeavor elsewhere .
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