Like a Rock! The Housing Market Just Keeps on Keepin’ On!

August 12, 2020

After reading some updates from other Realtors here last month, my confidence in the accuracy of my reporting that home sales were going strong here on Maui began to waiver just a bit. Apparently, others were having a different experience. This timely article from the National Association of Realtors reports an increase of 16.6% in home sales, though, for the month of June on a national scale, and even an increase of 6.3% over June of 2019! At this rate, we may not see a surge of pent-up buyer demand when we get past this pandemic(?)! Housing and the stock market seem to be traveling to the beat of a different drummer than most of the other nation’s economies.

This comment from our local Realtor’s Association sounds like the trend is here to stay for a while—nationally and on Maui:

Healthy buyer demand and constrained supply continue to be the story for much of the country. Nationally, showing activity in July remained substantially higher than a year before and multiple offer situations are a frequent experience in many markets. With the inventory of homes for sale still constrained, a competitive market for buyers shows little sign of waning.

Check below for complete July statistics.

Even though we are already bombarded daily by Covid-19 news, there seems to be no way to get away from it—it’s everywhere. Unfortunately, this month’s news for Hawaii is very disappointing.

Looking back at my Covid report from last month, state total cases were at 946 dating all the way back to February. One month later the number of cases has increased 400% to 3,638.

You’ve heard the expression “what a difference a day makes”? Well in this case, what a difference a month makes. Just last month, reports were that Maui and the rest of the state were in “good shape” regarding hospital beds, nursing staff, supplies, etc. Now, one month later, this from our Lt. Governor, Josh Green: “This is a very sobering statement to make,” he said. “If we continue with this trend all month seeing 150, 170 cases a day we will reach the point where we will fill up by the end of the month.” For the complete article, click here.

For what it’s worth, the vast majority of cases are reported on Oahu, but even at only 186 here on Maui recent spikes do not bode well. Of course, the neighbor islands do not get nearly as much incoming traffic as Honolulu/Oahu but the mayors of each island, including Mayor Victorino here on Maui, have taken a welcomed conservative approach to opening the island as well.

See what Mayor Vic has to say here.

So what does all this mean for all of you who were looking forward to grabbing your bathing suits and sunscreen this fall and winter and heading over to Maui? You might even be targeting the already-extended-date of September 1 when the state would be “opening up tourism once again”. By then (3 weeks from now) plans were to be made for pre-Covid 19 testing at numerous locations around at least the Western states as an option to the 14-day quarantine.

Well don’t count on it. The Governor has already been laying the ground work to extend the 14-day quarantine only (no testing) for at least another 30 days to October 1 and very possibly beyond. Simply put, as long as the State is spiking, Hawaii will not re-open for tourism. Not to mention that unless they are keeping it Top Secret, the reality of testing tens of thousands of people anxious to come to Maui every month, and getting the results within the required 72 hours, is still out there in Dreamland somewhere.

My advice, if you want to book a trip for the winter season—December and beyond—just make sure your airline and your hosts have a 100% refund policy.

This month’s Featured Property is very special indeed. Some of you may have gotten a preview describing this property a few days ago. Well, here it is with photos, video and all!

MLS #388085—Here’s your opportunity to own one of if not the best ocean view unit in all of Wailea Ekahi, complete with bragging rights that go with it for no extra charge. There are views; there are great views; there are panoramic views; then there are panoramic views that sit so near the water that the view literally becomes up close and personal. That’s Wailea Ekahi 26C! This 2BR/2BA upstairs south and west facing corner unit offers sweeping views from the LR/DR lanai, as well as both bedroom lanais. You’ll get to know the daily parade of whale pods, swimming lazily by during whale season, on a first-name basis as you enjoy a sunset beverage from your front row seat. The recent kitchen and (2) bath remodels feature granite and quartz counter tops and stylish cabinetry. New appliances in the kitchen and A/C and flat screen TV’s in all 3 rooms complete the package.

The iconic Wailea Ekahi is one of the first three condo complexes built in Wailea in the mid ‘70’s. In fact, “Ekahi” means “one” in Hawaiian, as it was actually the first of the three and is known for its lush tropical landscaping bursting with year ‘round color. The sprawling property is surrounded by no fewer than five championship golf courses and numerous tennis courts. The oceanfront pavilion area is steps from the sand where various water activities are at your fingertips. World-class shopping and fine dining—great cheeseburgers, also—are a short walk to the currently being remodeled Shops at Wailea. Lounge at one of the many pools on site, or claim your spot in the sand with your chair and blanket.

Own this fabulous unit for you and your family—and your legacy—or vacation rent it during the weeks you can pull yourself away. $1,995,000!!!

Click Here for complete July statistics

Click Here for Kathy Rosales’ Financial Report

“Back in the day”, one of my greatest pleasures associated with writing this Newsletter every month was to share a little Maui lifestyle—film festivals, concerts, live theater and the like coming up. Now, of course, none of that is happening, here or anywhere—unless you’re a motorcyclist in South Dakota. So, instead, I’m going to share a little nostalgia when I first received notice that Hall and Oates would be playing Maui. After two subsequent cancellations, and now a re-scheduling to April 25, 2021, I will be returning my tickets today for a refund. So sad!

Iconic rock duo Daryl Hall and John Oates is slated to perform at the Maui Arts and Cultural Center on March 29.

From the mid-’70s to the mid-’80s, the pair scored six #1 singles, including “Rich Girl” (also #1 R&B), “Kiss on My List,” “Private Eyes,” “I Can’t Go For That (No Can Do)” (also #1 R&B), “Maneater,” and “Out of Touch” from their six consecutive multi-platinum albums—’76’s Bigger Than Both of Us, ’80’s Voices, ’81’s Private Eyes, ‘82’s H2O, ‘83’s Rock N Soul, Part I, and ‘84’s Big Bam Boom.

The era would also produce an additional five Top 10 singles, “Sara Smile,” “One on One,” “You Make My Dreams,” “Say It Isn’t So,” and “Method of Modern Love.”

In 1987, the Record Industry Association of America recognized Daryl Hall and John Oates as the #1 selling duo in music history, a record they still hold today.

The concert will begin at 7 p.m at the Yokouchi Pavilion and A&B Amphitheater. Doors will open at 5 p.m.