Maui County Vacation Rentals

Many prospective buyers of Maui real estate as a second home or residence often will ask about Short Term Rentals. After all, Maui is an idyllic spot and while most owners would like to spend all of their time here, obligations at home often limit their use of the property.

WHAT IS A SHORT TERM OR VACATION RENTAL?*

Maui County defines short term or what are commonly known as "vacation" rentals as anything less than 180 days, with rentals under 180 days allowed on properties located within what is defined as the Hotel District.

Many condominiums and subdivisions zoned in the Apartment, Agricultural or Residential districts, had rules and guidelines allowing short term rentals in their governing CC&R's

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The Ritz-Carlton, Kapalua has sold to a joint venture between Ares Management, SMW Hospitality (Square Mile Capital Management and Wafra Investment Advisory Group) and Trinity Investments.

A BRIEF HISTORICAL OVERVIEW OF THE RITZ-CARLTON, KAPALUA

The Ritz-Carlton Kapalua property is comprised of 297 hotel guest rooms and 107 private condominium residences, situated on approximately 49 acres in the heart of the Kapalua Resort in West Maui.  

Back in 2007, the Ritz-Carlton, Kapalua underwent an extensive renovation.  As a part of the renovation, the North (Honolua Side) Wing was converted from hotel rooms to one and two bedroom condominiums known as the Residential Suites at the Ritz-Carlton, Kapalua.  Sales began in 2008, and 34 condominiums

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As many of the buyers of Maui real estate purchasing the property as a second home, the way property taxes are assessed here may differ from how properties are assessed in their home state or county.  

Each Year, Maui County will assess both property values and establish new rates.  The 2016-2017 rates follow below:

 

While the county assess rates on a /$1000 basis, when coming up with figures, I find it easiest to use $1M.  For example, if buying a condominium that will be rented as a vacation rental, it would fall under the Hotel & Resort category, which is $8.71/$1000.  If you are buying a property assessed by the county at $1,000,000, it would be $8,710/year.  If the property is $500,000, it would be half that, or $4,355.  The following

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Maui Real Estate Market Spotlight |  West Maui Oceanfront Homes
Olowalu to Kapalua

West Maui, which stretches from Olowalu to Kapalua, naturally has a very limited number of oceanfront homes unlike other coastal areas of the island.  A majority of the oceanfront homes here are on rocky beaches or points, and only a handful are located on the beaches in Olowalu, Lahaina, Kaanapali, Kahana, Napili and Kapalua.  

Maui Oceanfront Homes:

West Maui Oceanfront and Beachfront Homes | Market Overview
Active Listings: 4
Price Range: $9,895,000 to $20,000,000  
Average List Price: $15,646,250
Average Days on Market: 393
Average LP $/Sq. Ft.: $2,807

Pending Sales: 2
Price Range: $5,850,000 to $12,800,000
Average List Price: $9,325,000
Average Days on

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The Montage Residences Kapalua Bay

Since opening to the public in 2014, the Montage Kapalua Bay Hotel and Residences has been gathering some of the hospitality industry's most coveted awards and accolades.  In 2016 it was awarded 5-stars by Forbes, and named the #1 Best Resort Hotels in Hawaii and #4 Best Hotels in the World by Travel and Leisure.  The Spa Montage (Conde Nasté Reader's Choice Awards, 2015 20 Best Spas) and its flagship restaurant, Cane & Canoe (Maui No Ka Oi Magazine, Best Innovative Menu, 2016 and Best New Restaurant, 2015) have also been recognized.

With a focus on five star service and amenities, and its incredible setting, it's no surprise the private residences are also proving to be very desirable purchases, setting record

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Kapalua Residential Real Estate Market Update

The Kapalua Resort offers many real estate ownership options to prospective buyers--everything from condos to homes, and even fractional ownership Residences at Kapalua Bay.  The following is a market overview for each market segment during the time period through today's posting.

Kapalua Homes:

Pineapple Hill and Pineapple Hill Estates
Active Listings: 12
Price Range: $2,150,000 to $6,300,000
Average List Price: $3,537,791
Average LP/Sq. Ft.: $821
Average DOM: 258
Size Range: 3,522 sq. ft. to 8,172 sq. ft.

Pending Sales: 0

Sales 2016 YTD: 6
Price Range: $2,150,000 to $2,700,000
Average Sales Price: $2,353,333
Average SP/Sq. Ft.: $670
Average DOM: 275

Sales 2015 YTD: 7
Price Range: $1,975,000 to

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Maui Real Estate Market Update

Through August 2016

The August Maui County Real Estate Market Update is now available for your review.  The report details sales activity through August, 2016 as compared with that of the prior year.  

Maui's Real Estate Market: Active Listings

	Active Listings	Average List Price	Average Days on Market
All	1,629	$1,484,435	254
Residential	502	$2,283,790	163
Condominium	778	$981,617	177
Land	349	$1,455,543	558

Maui's Real Estate Market: Sales through August 2016

Across the island, the median sales prices are up for homes and condominiums, but down for vacant land.  Sales volume increased most for condominiums,

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Alaeloa Maui
New Listing and Market Update

Alaeloa is truly one of Maui's hidden gems...an enclave of just 42 residences on 13 acres, this private, gated community is situated on a private oceanfront cove in Napili.  Through a large mango grove there is direct access to a crescent beach and the surf break at Little Makaha.  Along the ocean is a large heated saline pool, along with a relaxing Pavilion with kitchen, bathrooms and showers, kayak and board storage areas. 

The oceanfront pool at Alaeloa

Introducing Alaeloa 40

This two bedroom, two bathroom condominium residence is one of only two townhouse units on property.  The two story floor plan provides views from both levels, and has been extensively refurbished and beautifully

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Maui Real Estate Market Update | July, 2016

The July Maui Real Estate Market Update is now available for your review.  The report details sales activity through July, 2016 as compared with that of the prior year.  Across the island, the median sales prices are up for homes, condominiums and land.  Sales volume increased in both number of sales and sales volume for condominiums when comparing this year over last.  However, the home and vacant land market didn't fare as well.  Read more...

Maui Real Estate by Property Type: July 2016 vs. 2015

As one might expect, the bulk of sales are condominiums (53%) and homes (43%), with vacant land (3%) and other (6%).  Island wide, the Maui Real Estate Market saw the following when comparing this year over

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Kapalua Real Estate: Mid-Year Market Spotlight 2016 Q1-2

The Kapalua Resort offers many options to prospective buyers--everything from condos to homes, and even fractional ownership Residences at Kapalua Bay.  The following is a market overview for each market segment as of this posting with sales statistics through June 30, 2016:

Kapalua Homes:

Active Listings: 25 (up 3 from the first quarter)
Price Range: $2,350,000 to $17,600,000
Average List Price: $4,825,364
Size Range: 3,390 sq. ft. to 8,179 sq. ft.

Pending Sales: 3
Price Range: $5,200,000 to $13,200,000
Average Listing Price: $8,133,333

Sales Through 2016 Q2: 9
Price Range: $2,150,000 to $6,470,000
Average Sales Price: $3,376,666

Sales Through 2016 Q2: 8
Average Sales

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