IN A NUT SHELL...... the good, the bad….. AND THE CONTINUED UNCERTAINTY ……
Considering the financial news of the last 5-6 months, large layoffs nationally/locally and everything else,we are still in a state of continued uncertainty (which is not at all conducive to real estate investment).
Active inventory has grown considerably in the last twelve months. While Unit Sales are lagging, Days on Market figures show that properties priced right will sell in a reasonable timeframe. “Priced Right” is still the determining factor. BEST Deals are selling, everything else is getting old.
FOR SELLERS: To be successful, Sellers need to be realistic and beat competing properties with better property condition, careful pricing, good marketing, and flexible, creative terms (including leasewith-option-to-buy and sale-with-lease-back to seller). Pro-Active Sellers are getting their properties appraised, inspected and surveyed in advance to encourage knowledgeable offers from realistic Buyers. Doing this can prevent unanticipated escrow
fallout. Unrealistic Sellers continue to follow the market down and miss current opportunities that later become woefully apparent. They may even end up in a Short Sale or Foreclosure situation. Sellers who don’t really need to sell (just “fishing?”) should stay off the market, and clear the marketplace for those who
REALLY have to sell.
FOR BUYERS: Continued low interest rates provide plenty of options for Buyers who qualify. Buyers should get Pre-Approved so they can shop in confidence (fewer last minute disappointments due to non-funding loans). More "short-sales" and foreclosures are happening in the marketplace, yet they can be less of a bargain than they seem, requiring more hurdles to leap and more time (often many months) to close, if at all. Be prepared, but BE REALISTIC.
However, if you can purchase a home, it is a great time to buy and HOLD. Prices have declined considerably in the past 2-3 years; “Able” Buyers are scouting out good deals and closing them.
Buyers waiting for the "bottom" may also miss unique properties/opportunities as market forces, qualification requirements and mortgage rates w fluctuate. (There is no bell that rings when the market hits bottom.) Zooming in on the figures of a specific geographic area or property type may lead to different conclusions that the overall view. (Choose carefully especially since this month’s statistics only include the months of January and February ;-) ) Disclaimer: Maui's market place is much smaller than Oahu's, and that a few high or low sales have a greater effect on the statistical numbers without necessarily indicating a big market swing one way or another.
Mahalo,
Terry Tolman
Attached are the Maui February 2009 Sales Statistics.
Brief overview:
Pages 4 - February's Sales Volume – Residential Sales held at 30 homes sold while Condos declined
to 44 units sold and Land Sales rose (?) to 6 lots.
Page 5 - February's Median SALES prices for Residential homes and Condos rose to $581,250 and
$578,950, respectively. Land sales median was $262,500.
Page 6 - Days on Market for Residential homes = 205 DOM, Condos = 167 DOM. Land = 228 DOM.
(General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD
inventory sells, it can move this indicator upward, and vice versa. Also, RAM's Days on Market are
calculated from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days
of escrow time.)
Pages 10 - 14 - "Year to Date Sales" numbers are limited in scope as they only compare
January/February 2009 to January/February 2008. Short timeframe (monthly) views do not necessarily
reflect the longer timeframe trends.
Better overview is available from these pages at the end of each year such as 2008's Year End (Dec.
2008) available at: http://www.ramaui.com/UserFiles/File/Stats/December2008.pdf
Year to Date: Residential unit sales declined (-55%), average sold price = $923,986 (-2%), median
price = $570,000 (-3%) and total dollar volume sold = $55,439,185 (-56%).
Condo unit sales declined (-47%), average sold price = $803,226 (-12%), median price = $570,297
(-4%). Total Condo dollar volume sold = $78,716,182 (-53%).
Land – NOTE: Land Lot sales is such a small sampling that statistics in this property class are
not necessarily reliable indicators. Land lot sales declined (-71%), average sold price = $210,000
(-78%), median price = $225,000 (-81%), Total dollar volume = $29,592,000 (-94%).
Also, total sales for immediately past 12 months: Residential=832, Condo=712, Land=76.
March 5, 2009 - Active/Pending/Contingent status inventory:
March Feb. Jan. Dec. Nov. Oct. Sept. Aug. June May April March
Homes 1,144 1,134 1,103 1,126 1,111 1,114 1,133 1,176 1,141 1,132 1,148 1,169
Condos 1,794 1,750 1,722 1,700 1,638 1,600 1,618 1,594 1,565 1,535 1,526 1,569
Land 667 595 575 563 595 552 558 548 545 531 548 508
441 Ala Makani Place
Kahului, Maui, HI 96732-3507
Phone: 808-873-8585 ~ Fax: 808-871-8911
Direct: 808-270-4646
E-mail: Terry@RAMaui.com
Overview Page 2 of 2
IN A NUT SHELL...... the good, the bad….. AND THE CONTINUED UNCERTAINTY ……
Considering the financial news of the last 5-6 months, large layoffs nationally/locally and everything else,
we are still in a state of continued uncertainty (which is not at all conducive to real estate investment).
Active inventory has grown considerably in the last twelve months. While Unit Sales are lagging, Days
on Market figures show that properties priced right will sell in a reasonable timeframe. “Priced Right” is
still the determining factor. BEST Deals are selling, everything else is getting old.
FOR SELLERS: To be successful, Sellers need to be realistic and beat competing properties with
better property condition, careful pricing, good marketing, and flexible, creative terms (including leasewith-
option-to-buy and sale-with-lease-back to seller).
Pro-Active Sellers are getting their properties appraised, inspected and surveyed in advance to
encourage knowledgeable offers from realistic Buyers. Doing this can prevent unanticipated escrow
fallout.
Unrealistic Sellers continue to follow the market down and miss current opportunities that later become
woefully apparent. They may even end up in a Short Sale or Foreclosure situation. Sellers who don’t
really need to sell (just “fishing?”) should stay off the market, and clear the marketplace for those who
REALLY have to sell.
FOR BUYERS: Continued low interest rates provide plenty of options for Buyers who qualify.
Buyers should get Pre-Approved so they can shop in confidence (fewer last minute disappointments due
to non-funding loans).
More "short-sales" and foreclosures are happening in the marketplace, yet they can be less of a bargain
than they seem, requiring more hurdles to leap and more time (often many months) to close, if at all. Be
prepared, but BE REALISTIC.
However, if you can purchase a home, it is a great time to buy and HOLD. Prices have declined
considerably in the past 2-3 years; “Able” Buyers are scouting out good deals and closing them.
.
Buyers waiting for the "bottom" may also miss unique properties/opportunities as market forces,
qualification requirements and mortgage rates w fluctuate.
(There is no bell that rings when the market hits bottom.)
Zooming in on the figures of a specific geographic area or property type may lead to different
conclusions that the overall view. (Choose carefully especially since this month’s statistics only include
the months of January and February ;-) )
Disclaimer: Maui's market place is much smaller than Oahu's, and that a few high or low sales have a
greater effect on the statistical numbers without necessarily indicating a big market swing one way or
another.
If you have any questions regarding hard numbers, call my number below.
Mahalo,
Terry Tolman
RAM Chief Staff Executive
808-270-4646
Single Family Monthly Sales Volume
For Month Ending 2/28/2009
Area Name Current Month
Units Volume Median
Previous Month
Units Volume Median
Year Ago Month
Units Volume Median
Central 16 $8,161,154 $520,190 15 $8,379,900 $540,000 39 $20,483,669 $562,000
Haiku 1 $670,000 $670,000 0 $0 $0 3 $2,075,000 $680,000
Kaanapali 1 $1,500,000 $1,500,000 0 $0 $0 2 $3,985,000 $1,992,500
Kapalua 1 $2,350,000 $2,350,000 0 $0 $0 2 $9,950,000 $4,975,000
Kihei 3 $1,435,232 $517,732 8 $6,234,900 $662,500 12 $7,935,450 $646,350
Kula/Ulupalakua/Kanaio 2 $1,265,000 $632,500 1 $810,000 $810,000 4 $9,033,500 $1,169,750
Lahaina 1 $825,000 $825,000 1 $1,250,000 $1,250,000 0 $0 $0
Lanai 0 $0 $0 1 $340,000 $340,000 0 $0 $0
Makawao/Olinda/Haliimaile 2 $1,075,000 $537,500 0 $0 $0 3 $1,516,000 $410,000
Maui Meadows 1 $675,000 $675,000 0 $0 $0 2 $5,575,000 $2,787,500
Molokai 0 $0 $0 0 $0 $0 1 $875,000 $875,000
Napili/Kahana/Honokowai 1 $8,350,000 $8,350,000 1 $788,000 $788,000 1 $925,000 $925,000
Pukalani 0 $0 $0 0 $0 $0 3 $1,775,000 $610,000
Sprecklesville/Paia/Kuau 0 $0 $0 2 $929,999 $465,000 2 $1,060,000 $530,000
Wailea/Makena 1 $2,650,000 $2,650,000 1 $7,750,000 $7,750,000 2 $11,610,000 $5,805,000
Maui Summary : 30 $28,956,386 $581,250 30 $26,482,799 $561,500 76 $76,798,619 $624,391
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 1
Condominium Monthly Sales Volume
For Month Ending 2/28/2009
Area Name Current Month
Units Volume Median
Previous Month
Units Volume Median
Year Ago Month
Units Volume Median
Central 2 $360,165 $180,083 5 $549,500 $68,000 5 $1,371,850 $275,000
Kaanapali 14 $21,951,650 $1,500,000 15 $14,920,000 $825,000 4 $3,619,000 $857,500
Kapalua 0 $0 $0 1 $620,000 $620,000 3 $3,025,000 $950,000
Kihei 20 $8,120,000 $402,500 12 $4,221,495 $265,300 48 $25,074,125 $436,500
Kula/Ulupalakua/Kanaio 1 $445,000 $445,000 3 $1,724,373 $577,680 0 $0 $0
Lahaina 0 $0 $0 0 $0 $0 1 $1,662,500 $1,662,500
Lanai 1 $2,300,000 $2,300,000 0 $0 $0 0 $0 $0
Maalaea 1 $599,999 $599,999 4 $1,701,000 $410,500 2 $1,092,500 $546,250
Molokai 1 $301,000 $301,000 2 $575,000 $287,500 1 $469,000 $469,000
Napili/Kahana/Honokowai 2 $1,240,000 $620,000 6 $2,030,000 $260,000 12 $6,108,084 $452,542
Wailea/Makena 2 $4,050,000 $2,025,000 6 $13,007,000 $2,074,500 19 $41,998,748 $1,872,245
Maui Summary : 44 $39,367,814 $578,950 54 $39,348,368 $566,347 95 $84,420,807 $575,000
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 2
Land Monthly Sales Volume
For Month Ending 2/28/2009
Area Name Current Month
Units Volume Median
Previous Month
Units Volume Median
Year Ago Month
Units Volume Median
Haiku 3 $875,000 $300,000 0 $0 $0 2 $695,000 $347,500
Kaanapali 0 $0 $0 0 $0 $0 1 $1,055,000 $1,055,000
Kihei 1 $350,000 $350,000 0 $0 $0 1 $690,000 $690,000
Kula/Ulupalakua/Kanaio 0 $0 $0 2 $320,000 $160,000 5 $3,313,000 $700,000
Makawao/Olinda/Haliimaile 1 $80,000 $80,000 0 $0 $0 0 $0 $0
Molokai 0 $0 $0 1 $40,000 $40,000 0 $0 $0
Napili/Kahana/Honokowai 1 $225,000 $225,000 0 $0 $0 1 $425,000 $425,000
Olowalu 0 $0 $0 0 $0 $0 14 $17,980,000 $1,295,000
Maui Summary : 6 $1,530,000 $262,500 3 $360,000 $70,000 24 $24,158,000 $1,195,000
SOURCE: REALTORS Association of Maui - www.RAMui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 3
Sales Volume By Month
For Month Ending 2/28/2009
0
50
100
150
200
250
Jan-04
Mar-04
May-04
Jul-04
Sep-04
Nov-04
Jan-05
Mar-05
May-05
Jul-05
Sep-05
Nov-05
Jan-06
Mar-06
May-06
Jul-06
Sep-06
Nov-06
Jan-07
Mar-07
May-07
Jul-07
Sep-07
Nov-07
Jan-08
Mar-08
May-08
Jul-08
Sep-08
Nov-08
Jan-09
Con Lnd Res
Jul
2004
Month Single
Family
Condo Land
2005
Single
Family
Condo Land
2006
Single
Family
Condo Land
2007
Single
Family
Condo Land
2008
Single
Family
Condo Land
Jan
Feb
Mar
Apr
May
Jun
Aug
Sep
Oct
Nov
Dec
Single
Family
Condo Land
2009
98 159 50
87 154 52
110 193 84
126 217 36
84 172 27
88 205 33
112 164 32
76 153 24
103 141 38
125 124 34
108 147 42
111 106 24
98 99 31
81 149 23
123 182 41
116 222 26
110 176 32
146 194 37
125 228 32
129 187 28
122 160 62
96 148 42
61 121 37
86 158 23
86 130 28
60 119 34
107 144 39
72 116 21
87 137 18
87 111 25
88 84 16
100 69 20
63 74 13
86 93 13
117 77 11
129 93 17
106 99 15
104 84 30
131 95 17
96 117 26
101 111 28
112 113 26
86 99 13
83 115 10
74 84 16
79 112 16
83 86 16
87 73 14
57 89 7
76 95 24
95 92 10
78 94 8
97 84 9
76 56 11
97 63 7
66 51 5
66 50 7
80 49 4
65 29 4
54 37 1
30 54 3
30 44 6
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sales data - Information deemed reliable, however not guaranteed Page 4
Sales Median By Month
For Month Ending 2/28/2009
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
Jan-04
Apr-04
Jul-04
Oct-04
Jan-05
Apr-05
Jul-05
Oct-05
Jan-06
Apr-06
Jul-06
Oct-06
Jan-07
Apr-07
Jul-07
Oct-07
Jan-08
Apr-08
Jul-08
Oct-08
Jan-09
Apr-09
Jul-09
Oct-09
Con Lnd Res
Jul
Month Single
Family
Condo Land
2005
Single
Family
Condo Land
2006
Single
Family
Condo Land
2007
Single
Family
Condo Land
2008
Single
Family
Condo Land
Jan
Feb
Mar
Apr
May
Jun
Aug
Sep
Oct
Nov
Dec
2009
Single
Family
Condo Land
2004
520000 275000 454500
550000 267450 421500
499000 310000 218750
512500 295000 550000
640000 277000 475000
516000 295000 600000
567000277425 452500
542500 339000 507500
596000 330000 687500
580000 367500 312500
525000 385000 333000
590000 355000 436000
632500 430000 584100
575000 353523 550000
635000 416250 415000
674000 329500 547500
780000 352500 793750
727500 387500 662145
642600380000 603479
670000 366500 667500
687250 405000 405000
674500 429500 405000
680000 460000 410000
722500 402500 517500
690500 433872 430000
669500 430100 800000
725000 527625 701000
700000 539500 790000
729000 600000 657500
725000 649000 625000
780000512500 452500
749500 495000 680000
769000 4945001450000
650000 515000 700000
609881 575000 460000
625205 525000 767472
602000 600000 700000
635000 596000 342000
625000 469500 550000
671000 485000 843750
653746 531325 567000
667000 475000 682500
650000510000 575000
639996 592000 662500
586000 599000450000
585000 552000 432500
631900 640156 465000
582002 626000 650000
563225 610000 600000
624391 575000 1195000
620000 538500 537500
577500 600000 477000
567000 512500 600000
606000 577500 700000
610000 575000 1025000
645000 625000 425010
537500 388500 290500
509500 385000 590000
472000 399000 507140
567500 499000 279000
561500 566347 70000
581250 578950 262500
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sales data - Information deemed reliable, however not guaranteed Page 5
Sales Days on Market By Month
For Month Ending 2/28/2009
0
100
200
300
400
500
600
700
Jan-04
Apr-04
Jul-04
Oct-04
Jan-05
Apr-05
Jul-05
Oct-05
Jan-06
Apr-06
Jul-06
Oct-06
Jan-07
Apr-07
Jul-07
Oct-07
Jan-08
Apr-08
Jul-08
Oct-08
Jan-09
Apr-09
Jul-09
Oct-09
Con Lnd Res
Jul
2004
Month Single
Family
Condo Land
2005
Single
Family
Condo Land
2006
Single
Family
Condo Land
2007
Single
Family
Condo Land
2008
Single
Family
Condo Land
Jan
Feb
Mar
Apr
May
Jun
Aug
Sep
Oct
Nov
Dec
2009
Single
Family
Condo Land
120 121 143
130 95 148
124 83 221
109 79 170
119 86 108
106 80 175
105 95.5 166
95 87 376
101 85 184
120 96 113
123 97 180
117 98 139
132 102 255
153 140 179
123 104 176
110 113 139
132 111 181
128 116 224
126 109 207
119 115 170
117 115 489
101 103 530
106 107 372
106 126 568
121 102 558
130 144 75
134 126 104
108 121 152
121 136 189
123 151 133
131 127 224
125 126 153
129 128 337
116 144 236
162 232 124
145 170 161
113 180 162
138 174 432
150 152 230
167 145 197
158 153 184
186 152 314
146 161 147
112 175 203
137 157 231
165 143 163
163 204 259
176 200 181
151 223 379
134 141 679
162 176 137
138 175 164
183 140 227
154 147 180
167 167 218
209 138 174
174 164 217
157 186 93
143 160 312
153 163 0
176 228 496
205 167 228
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 6
Single Family Median Prices by Area
For Month Ending 2/28/2009
Current Month Information
0 250,000 500,000 750,000 1,000,000 1,250,000 1,500,000 1,750,000 2,000,000
Wailea/Makena
Sprecklesville/Paia/Kuau
Pukalani
Napili/Kahana/Honokowai
Molokai
Maui M eadows
Makawao/Olinda/Haliimaile
Lanai
Lahaina
Kula/Ulupalakua/Kanaio
Kihei
Kapalua
Kaanapali
Haiku
Central
Area Current Month Previous Month Year Ago Month
Central $520,190 $540,000 $562,000
Haiku $670,000 $0 $680,000
Kaanapali $1,500,000 $0 $1,992,500
Kapalua $2,350,000 $0 $4,975,000
Kihei $517,732 $662,500 $646,350
Kula/Ulupalakua/Kanaio $632,500 $810,000 $1,169,750
Lahaina $825,000 $1,250,000 $0
Lanai $0 $340,000 $0
Makawao/Olinda/Haliimaile $537,500 $0 $410,000
Maui Meadows $675,000 $0 $2,787,500
Molokai $0 $0 $875,000
Napili/Kahana/Honokowai $8,350,000 $788,000 $925,000
Pukalani $0 $0 $610,000
Sprecklesville/Paia/Kuau $0 $465,000 $530,000
Wailea/Makena $2,650,000 $7,750,000 $5,805,000
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 7
Condominium Median Prices by Area
For Month Ending 2/28/2009
Current Month Information
$0
$50 0 ,0 0 0
$1,0 0 0 ,0 0 0
$1,50 0 ,0 0 0
$2 ,0 0 0 ,0 0 0
$2 ,50 0 ,0 0 0
Central
Kaanapali
Kap alua
Kihei
Kula/Ulupalakua/Kanaio
Lahaina
Lanai
Maalaea
Molokai
Napili/Kahana/Honokowa i
Wailea/Makena
Area Current Month Previous Month Year Ago Month
Central $180,083 $68,000 $275,000
Kaanapali $1,500,000 $825,000 $857,500
Kapalua $0 $620,000 $950,000
Kihei $402,500 $265,300 $436,500
Kula/Ulupalakua/Kanaio $445,000 $577,680 $0
Lahaina $0 $0 $1,662,500
Lanai $2,300,000 $0 $0
Maalaea $599,999 $410,500 $546,250
Molokai $301,000 $287,500 $469,000
Napili/Kahana/Honokowai $620,000 $260,000 $452,542
Wailea/Makena $2,025,000 $2,074,500 $1,872,245
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 8
Land Median Prices by Area
For Month Ending 2/28/2009
Current Month Information
$0 $200,000 $400,000 $600,000 $800,000 $1,000,000
Olowalu
Napili/Kahana/Honokowai
Molokai
Makawao/Olinda/Haliimaile
Kula/Ulupalakua/Kanaio
Kihei
Kaanapali
Haiku
Area Current Month Previous Month Year Ago Month
Haiku $300,000 $0 $347,500
Kaanapali $0 $0 $1,055,000
Kihei $350,000 $0 $690,000
Kula/Ulupalakua/Kanaio $0 $160,000 $700,000
Makawao/Olinda/Haliimaile $80,000 $0 $0
Molokai $0 $40,000 $0
Napili/Kahana/Honokowai $225,000 $0 $425,000
Olowalu $0 $0 $1,295,000
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteedc Page 9
Single Family Year To Date Sales Information
Comparing 1/1/2009 thru 2/28/2009 with 1/1/2008 thru 2/29/2008
Area
Number of Sales
Current
YTD
Average
Year Ago
YTD
Average
Average Sales Price
Percent
Change
Current
YTD
Median
Year Ago
YTD
Median
Median Sales Price
Percent
Change
Current
YTD
Volume
Year Ago
YTD
Volume
Total Dollar Volume
Percent
Change
Current
YTD
Sales
Year
Ago
YTD
Changes
Units %
31 63 Central -32 -51% $533,582 $505,455 6% $540,000 $539,000 0% $16,541,054 $31,843,691 -48%
Haiku 1 9 -8 -89% $670,000 $1,161,667 -42% $670,000 $850,000 -21% $670,000 $10,455,000 -94%
Hana 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Kaanapali 1 4 -3 -75% $1,500,000 $1,973,750 -24% $1,500,000 $1,955,000 -23% $1,500,000 $7,895,000 -81%
Kahakuloa 0 1 -1 -100% $0 $925,000 -100% $0 $925,000 -100% $0 $925,000 -100%
Kapalua 1 2 -1 -50% $2,350,000 $4,975,000 -53% $2,350,000 $4,975,000 -53% $2,350,000 $9,950,000 -76%
Kihei 11 22 -11 -50% $697,285 $647,107 8% $575,000 $587,500 -2% $7,670,132 $14,236,360 -46%
Kula/Ulupalakua/Kanaio 3 4 -1 -25% $691,667 $2,258,375 -69% $810,000 $1,169,750 -31% $2,075,000 $9,033,500 -77%
Lahaina 2 3 -1 -33% $1,037,500 $1,188,633 -13% $1,037,500 $770,000 35% $2,075,000 $3,565,900 -42%
Lanai 1 1 0 0% $340,000 $525,000 -35% $340,000 $525,000 -35% $340,000 $525,000 -35%
Makawao/Olinda/Haliimaile 2 7 -5 -71% $537,500 $591,571 -9% $537,500 $645,000 -17% $1,075,000 $4,141,000 -74%
Maui Meadows 1 2 -1 -50% $675,000 $2,787,500 -76% $675,000 $2,787,500 -76% $675,000 $5,575,000 -88%
Molokai 0 1 -1 -100% $0 $875,000 -100% $0 $875,000 -100% $0 $875,000 -100%
Nahiku 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Napili/Kahana/Honokowai 2 4 -2 -50% $4,569,000 $2,659,250 72% $4,569,000 $1,023,500 346% $9,138,000 $10,637,000 -14%
Pukalani 0 4 -4 -100% $0 $571,250 -100% $0 $560,000 -100% $0 $2,285,000 -100%
Sprecklesville/Paia/Kuau 2 4 -2 -50% $465,000 $536,000 -13% $465,000 $530,000 -12% $929,999 $2,144,000 -57%
Wailea/Makena 2 2 0 0% $5,200,000 $5,805,000 -10% $5,200,000 $5,805,000 -10% $10,400,000 $11,610,000 -10%
Maui Summary: 60 133 -73 -55% $923,986 $945,086 -2% $570,000 $590,000 -3% $55,439,185 $125,696,451 -56%
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 10
Condominium Year To Date Sales Information
Comparing 1/1/2009 thru 2/28/2009 with 1/1/2008 thru 2/29/2008
Area
Number of Sales
Current
YTD
Average
Year Ago
YTD
Average
Average Sales Price
Percent
Change
Current
YTD
Median
Year Ago
YTD
Median
Median Sales Price
Percent
Change
Current
YTD
Volume
Year Ago
YTD
Volume
Total Dollar Volume
Percent
Change
Current
YTD
Sales
Year
Ago
YTD
Changes
Units %
7 10 $129,952 Central -3 -30% $343,593 -62% $140,165 $285,000 -51% $909,665 $3,435,925 -74%
Kaanapali 29 7 22 314% $1,271,436 $813,429 56% $1,100,000 $790,000 39% $36,871,650 $5,694,000 548%
Kapalua 1 4 -3 -75% $620,000 $1,225,000 -49% $620,000 $1,125,000 -45% $620,000 $4,900,000 -87%
Kihei 32 88 -56 -64% $385,672 $551,638 -30% $341,500 $472,500 -28% $12,341,495 $48,544,119 -75%
Kula/Ulupalakua/Kanaio 4 0 4 N/A $542,343 $0 N/A $572,687 $0 N/A $2,169,373 $0 N/A
Lahaina 0 4 -4 -100% $0 $1,649,875 -100% $0 $1,329,750 -100% $0 $6,599,500 -100%
Lanai 1 0 1 N/A $2,300,000 $0 N/A $2,300,000 $0 N/A $2,300,000 $0 N/A
Maalaea 5 6 -1 -17% $460,200 $533,723 -14% $470,000 $541,170 -13% $2,300,999 $3,202,340 -28%
Makawao/Olinda/Haliimaile 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Molokai 3 1 2 200% $292,000 $469,000 -38% $301,000 $469,000 -36% $876,000 $469,000 87%
Napili/Kahana/Honokowai 8 25 -17 -68% $408,750 $536,315 -24% $360,000 $480,000 -25% $3,270,000 $13,407,884 -76%
Pukalani 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Sprecklesville/Paia/Kuau 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Wailea/Makena 8 39 -31 -79% $2,132,125 $2,102,483 1% $2,074,500 $1,850,000 12% $17,057,000 $81,996,840 -79%
Maui Summary: 98 184 -86 -47% $803,226 $914,400 -12% $570,297 $594,420 -4% $78,716,182 $168,249,608 -53%
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 11
Fee Simple Condominium Year To Date Sales Information
Comparing 1/1/2009 thru 2/28/2009 with 1/1/2008 thru 2/29/2008
Area
Number of Sales
Current
YTD
Average
Year Ago
YTD
Average
Average Sales Price
Percent
Change
Current
YTD
Median
Year Ago
YTD
Median
Median Sales Price
Percent
Change
Current
YTD
Volume
Year Ago
YTD
Volume
Total Dollar Volume
Percent
Change
Current
YTD
Sales
Year
Ago
YTD
Changes
Units %
7 10 $129,952 Central -3 -30% $343,593 -62% $140,165 $285,000 -51% $909,665 $3,435,925 -74%
Kaanapali 29 5 24 480% $1,271,436 $881,800 44% $1,100,000 $820,000 34% $36,871,650 $4,409,000 736%
Kapalua 1 4 -3 -75% $620,000 $1,225,000 -49% $620,000 $1,125,000 -45% $620,000 $4,900,000 -87%
Kihei 31 88 -57 -65% $389,403 $551,638 -29% $350,000 $472,500 -26% $12,071,495 $48,544,119 -75%
Kula/Ulupalakua/Kanaio 4 0 4 N/A $542,343 $0 N/A $572,687 $0 N/A $2,169,373 $0 N/A
Lahaina 0 4 -4 -100% $0 $1,649,875 -100% $0 $1,329,750 -100% $0 $6,599,500 -100%
Lanai 1 0 1 N/A $2,300,000 $0 N/A $2,300,000 $0 N/A $2,300,000 $0 N/A
Maalaea 4 6 -2 -33% $487,500 $533,723 -9% $517,500 $541,170 -4% $1,949,999 $3,202,340 -39%
Makawao/Olinda/Haliimaile 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Molokai 3 1 2 200% $292,000 $469,000 -38% $301,000 $469,000 -36% $876,000 $469,000 87%
Napili/Kahana/Honokowai 5 19 -14 -74% $531,000 $601,636 -12% $540,000 $570,000 -5% $2,655,000 $11,431,084 -77%
Pukalani 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Sprecklesville/Paia/Kuau 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Wailea/Makena 8 39 -31 -79% $2,132,125 $2,102,483 1% $2,074,500 $1,850,000 12% $17,057,000 $81,996,840 -79%
Maui Summary: 93 176 -83 -47% $833,120 $937,431 -11% $579,000 $610,000 -5% $77,480,182 $164,987,808 -53%
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 12
Leasehold Condominium Year To Date Sales Information
Comparing 1/1/2009 thru 2/28/2009 with 1/1/2008 thru 2/29/2008
Area
Number of Sales
Current
YTD
Average
Year Ago
YTD
Average
Average Sales Price
Percent
Change
Current
YTD
Median
Year Ago
YTD
Median
Median Sales Price
Percent
Change
Current
YTD
Volume
Year Ago
YTD
Volume
Total Dollar Volume
Percent
Change
Current
YTD
Sales
Year
Ago
YTD
Changes
Units %
Kaanapali 0 2 -2 -100% $0 $642,500 -100% $0 $642,500 -100% $0 $1,285,000 -100%
Kihei 1 0 1 N/A $270,000 $0 N/A $270,000 $0 N/A $270,000 $0 N/A
Lahaina 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Maalaea 1 0 1 N/A $351,000 $0 N/A $351,000 $0 N/A $351,000 $0 N/A
Molokai 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Napili/Kahana/Honokowai 3 6 -3 -50% $205,000 $329,467 -38% $185,000 $345,000 -46% $615,000 $1,976,800 -69%
Maui Summary: 5 8 -3 -38% $247,200 $407,725 -39% $270,000 $390,000 -31% $1,236,000 $3,261,800 -62%
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 13
Land Year To Date Sales Information
Comparing 1/1/2009 thru 2/28/2009 with 1/1/2008 thru 2/29/2008
Area
Number of Sales
Current
YTD
Average
Year Ago
YTD
Average
Average Sales Price
Percent
Change
Current
YTD
Median
Year Ago
YTD
Median
Median Sales Price
Percent
Change
Current
YTD
Volume
Year Ago
YTD
Volume
Total Dollar Volume
Percent
Change
Current
YTD
Sales
Year
Ago
YTD
Changes
Units %
Central 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Haiku 3 5 -2 -40% $291,667 $567,800 -49% $300,000 $369,000 -19% $875,000 $2,839,000 -69%
Hana 0 1 -1 -100% $0 $315,000 -100% $0 $315,000 -100% $0 $315,000 -100%
Kaanapali 0 2 -2 -100% $0 $865,000 -100% $0 $865,000 -100% $0 $1,730,000 -100%
Kapalua 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Kihei 1 1 0 0% $350,000 $690,000 -49% $350,000 $690,000 -49% $350,000 $690,000 -49%
Kula/Ulupalakua/Kanaio 2 5 -3 -60% $160,000 $662,600 -76% $160,000 $700,000 -77% $320,000 $3,313,000 -90%
Lahaina 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Lanai 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Makawao/Olinda/Haliimaile 1 1 0 0% $80,000 $1,700,000 -95% $80,000 $1,700,000 -95% $80,000 $1,700,000 -95%
Molokai 1 0 1 N/A $40,000 $0 N/A $40,000 $0 N/A $40,000 $0 N/A
Nahiku 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Napili/Kahana/Honokowai 1 1 0 0% $225,000 $425,000 -47% $225,000 $425,000 -47% $225,000 $425,000 -47%
Olowalu 0 14 -14 -100% $0 $1,284,286 -100% $0 $1,295,000 -100% $0 $17,980,000 -100%
Pukalani 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Sprecklesville/Paia/Kuau 0 0 0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A
Wailea/Makena 0 1 -1 -100% $0 $600,000 -100% $0 $600,000 -100% $0 $600,000 -100%
Maui Summary: 9 31 -22 -71% $210,000 $954,581 -78% $225,000 $1,195,000 -81% $1,890,000 $29,592,000 -94%
SOURCE: REALTORS Association of Maui - www.RAMaui.com
MLS Sale data - Information deemed reliable, however not guaranteed Page 14
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