Maui Real Estate Report- December 2013 and 2013 Year End

Reta Chin-Chiarella

MAUI STATISTICS

Business Development VP RChinChiarella@ortc.com Cell 808-268-6554

State of Hawaii | December 2013 2013 Median Price

2012 Median Price

27

$409,110

$435,000 Central

9

$680,000

$455,000 Haiku

2013 Units

2012 Units

Central

22

Haiku

6

RESIDENTIAL

Hana

0

0

$0

Kaanapali

4

2

$1,091,250

CONDOMIUM

2013 Units

2012 Units

23

13

2013 Median Price

2012 Median Price

$250,000 125,000 Central Haiku

$0 Hana

Hana

$1,200,000 Kaanapali

Kahakuloa

8

18

1

0

$6,050,000

Kihei

17

17

$742,000

Kula/Ulu/Kan

7

2

$750,000

Lahaina

0

3

$0

Lanai

2

2

Makawao/Olin/Hali

7

Maui Meadows

$0 Kapalua

2013 Units

2012 Units

2013 Median Price

2

7

$1,975,000

$165,000

2

10

$337,500

$365,469

2012 Median Price

1

1

$253,000

$400,000

$1,497,500 559,950 Kaanapali

1

1

$740,000

$399,500

Kahakuloa

1

1

$285,000

$342,500

Kahakuloa

Kapalua

LAND

2

8

$695,000 650,000 Kapalua

0

0

$0

$0

35

41

$357,000 344,421 Kihei

5

1

$325,000

$199,500

$1,871,250 Lahaina

4

5

$280,000 410,000 Lahaina

$370,250

$431,250 Lanai

3

12

5

6

5

$400,000

$339,000 Makawao/Olin/Hali

2

1

$1,056,000

$815,000 Maui Meadows

Molokai

1

0

$265,000

Nahiku

0

1

$0

Nap/Kah/Hono

2

4

$992,500

$620,000 Kihei $690,000 Kula/Ulu/Kan

Maalaea

Kula/Ulu/Kan

Maalaea

1

$525,000

$1,300,000

2

$0

$800,000

Makawao/Olin/Hali

1

1

$900,000

$145,000

Maui Meadows

0

0

$0

$0

Molokai

1

0

$150,000

$0

$2,000,000 267,375 Lanai $251,000 240,750 Maalaea

$0 Molokai $339,900 Nahiku

Nahiku

$732,500 Nap/Kah/Hono

Olowalu

5 0

24

24

$370,000 292,500 Nap/Kah/Hono

Olowalu

Olowalu

0

2

$0

$927,500

Pukalani

3

4

$370,000

$438,750 Pukalani

Pukalani

2

1

522,500

$950,000

Sprecks/Paia/Kuau

1

3

$800,000

$580,000 Sprecks/Paia/Kuau

Sprecks/Paia/Kuau

1

1

395,000

$250,000

Wailea/Makena

1

4

1,900,000

MAUI SUMMARY

76

84

$512,500

22

29

$370,000

$340,000

$5,227,500 Wailea/Makena $508,000 MAUI SUMMARY

12

15

116

142

$1,325,000 672,500 Wailea/Makena $365,000 376,000 MAUI SUMMARY

AS OF JANUARY 10, 2014 Active/Pending/Contingent Sales Inventory: HOMES CONDOS LAND

JAN ’14

DEC ‘13

NOV

OCT

SEPT

AUG

JULY

JUNE

MAY

APRIL

MAR

FEB

JAN ‘13

659 847 396

641 826 400

618 773 405

600 744 398

582 756 399

610 785 387

591 788 397

603 805 398

623 860 405

653 934 408

645 964 427

628 984 426

644 929 425

Definition of 'Absorption Rate' The rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the total number of available homes by the average number of sales per month. The figure shows how many months it will take to exhaust the supply of homes on the market. A high absorption rate may indicate that the supply of available homes will shrink rapidly, increasing the odds that a homeowner will sell a piece of property in a shorter period of time. (Investopedia)

*All information taken from the Realtors Association of Maui. MLS Sales Data information shown herein, while not guaranteed, is derived from sources deemed reliable.

Current Absorption Rate based on this month's Active inventory divided by OCTOBER sales is: DECEMBER Current Absorption Rate Residential - 8.7 months of active inventory Condo - 7.3 months of active inventory Land - 18 months of active inventory NOVEMBER Current Absorption Rate Residential - 8.7 months of active inventory Condo - 8.8 months of active inventory Land - 18.2 months of active inventory

2013 Year to Date Area Summary Report - SINGLE FAMILY SINGLE FAMILY YEAR TO DATE Kapalua Lanai Maui Meadows Sprecklesville/Paia/Kuau Central Haiku Molokai Pukalani Lahaina Olowalu Wailea/Makena Makawao/Olinda/Haliimaile Kula/Ulupalakua/Kanaio Kaanapali Kihei Hana Napili/Kahana/Honokowai Kahakuloa Kipahulu Nahiku Keanae MAUI SUMMARY

NUMBER OF SALES Current YTD Sales 12 32 28 32 300 79 11 57 52 1 27 57 73 22 151 8 35 2 0 0 1 980

Year Ago YTD 6 21 21 28 267 72 10 52 50 1 27 58 75 23 162 10 45 5 1 4 0 938

AVERAGE SALES PRICE

Changes Units % 6 11 7 4 33 7 1 5 2 0 0 -1 -2 -1 -11 -2 -10 -3 -1 -4 1 42

100% 52% 33% 14% 12% 10% 10% 10% 4% 0% 0% -2% -3% -4% -7% -20% -22% -60% -100% -100% N/A 4%

Hana Sprecklesville/Paia/Kuau Molokai Makawao/Olinda/Haliimaile Wailea/Makena Lanai Maui Meadows Kapalua Central Pukalani Kula/Ulupalakua/Kanaio Kihei Haiku Olowalu Lahaina Kaanapali Napili/Kahana/Honokowai Kahakuloa Kipahulu Nahiku Keanae MAUI SUMMARY

Current YTD Average $815,563 $1,105,422 $512,517 $588,525 $3,773,611 $515,372 $1,234,286 $3,656,076 $459,001 $547,009 $810,982 $651,086 $687,373 $1,175,000 $896,162 $1,406,841 $814,148 $413,150 $0 $0 $469,500 $782,764

Year Ago Percent YTD Change Average $508,490 60% $714,143 55% $392,490 31% $461,334 28% $3,049,486 24% $435,548 18% $1,045,762 18% $3,221,105 14% $418,554 10% $495,758 10% $755,595 7% $623,163 4% $674,967 2% $1,150,000 2% $913,637 -2% $1,530,680 -8% $919,976 -12% $767,560 -46% $1,166,000 -100% $274,775 -100% $0 N/A $705,571 11%

MEDIAN SALES PRICE

Wailea/Makena Hana Maui Meadows Sprecklesville/Paia/Kuau Molokai Lanai Napili/Kahana/Honokowai Kihei Makawao/Olinda/Haliimaile Lahaina Kapalua Central Kula/Ulupalakua/Kanaio Pukalani Olowalu Kaanapali Haiku Kahakuloa Kipahulu Nahiku Keanae MAUI SUMMARY

Current YTD Median $2,750,000 $723,250 $1,200,000 $625,000 $365,000 $320,000 $799,000 $580,000 $420,000 $606,250 $3,130,576 $415,630 $610,000 $515,000 $1,175,000 $1,172,500 $599,000 $413,150 $0 $0 $469,500 $530,000

Year Ago Percent YTD Change Median $1,365,000 101% $475,000 52% $815,000 47% $438,500 43% $255,000 43% $245,000 31% $632,000 26% $462,500 25% $337,500 24% $512,500 18% $2,880,000 9% $380,000 9% $565,000 8% $488,000 6% $1,150,000 2% $1,230,000 -5% $635,000 -6% $749,900 -45% $1,166,000 -100% $267,100 -100% $0 N/A $470,000 13%

SINGLE FAMILY

2013 Year to Date Area Summary Report -CONDOMINIUM CONDO YEAR TO DATE Sprecklesville/Paia/Kuau

NUMBER OF SALES Current Year Changes YTD Ago Units % Sales YTD 3 1 2 200%

Kaanapali

AVERAGE SALES PRICE Current Year Ago Percent YTD YTD Change Average Average $1,011,150 $642,003 57%

Kapalua

MEDIAN SALES PRICE Current Year Ago Percent YTD YTD Change Median Median $925,000 $575,000 61%

Central

175

117

58

50%

Molokai

$121,289

$81,000

50%

Kaanapali

Molokai

7

5

2

40%

Kapalua

$1,134,297

$805,833

41%

Wailea/Makena

$782,950

$499,900

57%

$1,110,000

$757,500

47%

Maalaea

62

53

9

17%

Wailea/Makena

$1,564,961

$1,201,996

30%

Napili/Kahana/Honokowai

$382,500

$299,000

28%

Lahaina

86

80

6

8%

Napili/Kahana/Honokowai

$394,655

$329,051

20%

Central

$246,000

$199,000

24%

Wailea/Makena

123

114

9

8%

Kihei

$384,002

$333,115

15%

Kihei

$316,500

$270,000

17%

Kihei

438

408

30

7%

Maalaea

$338,759

$300,411

13%

Maalaea

$322,500

$275,000

17%

Lanai

24

23

1

4%

Pukalani

$436,000

$387,500

13%

Pukalani

$450,000

$390,000

15%

Kaanapali

160

160

0

0%

Central

$236,634

$211,221

12%

Sprecklesville/Paia/Kuau

$294,000

$260,000

13%

Napili/Kahana/Honokowai

215

233

-18

-8%

Hana

$475,000

$456,250

4%

Molokai

$99,000

$90,000

10%

Pukalani

3

4

-1

-25%

Sprecklesville/Paia/Kuau

$263,000

$260,000

1%

Hana

$475,000

$460,000

3%

Kapalua

37

51

-14

-27%

Lahaina

$377,716

$382,798

-1%

Lahaina

$355,750

$365,100

-3%

Hana

1

4

-3

-75%

Lanai

$608,967

$852,620

-29%

Lanai

$97,000

$529,000

-82%

1334

1253

81

6%

MAUI SUMMARY

$571,380

$469,540

22%

MAUI SUMMARY

$374,500

$358,000

5%

MAUI SUMMARY

CONDOMINIUM

2013 Year to Date Area Summary Report - LAND LAND YEAR TO DATE Lanai Sprecklesville/Paia/Kuau Kahakuloa Pukalani Wailea/Makena Kihei Napili/Kahana/Honokowai Haiku Kula/Ulupalakua/Kanaio Kaanapali Molokai Kapalua Nahiku Lahaina Hana Central Makawao/Olinda/Haliimaile Olowalu Kipahulu Kaupo Maui Meadows MAUI SUMMARY

NUMBER OF SALES Current Year Changes YTD Ago Units % Sales YTD 4 1 3 300% 7 2 5 250% 6 2 4 200% 8 3 5 167% 13 5 8 160% 19 10 9 90% 5 3 2 67% 43 29 14 48% 17 13 4 31% 16 13 3 23% 13 11 2 18% 7 6 1 17% 1 1 0 0% 11 13 -2 -15% 3 4 -1 -25% 35 47 -12 -26% 5 9 -4 -44% 1 3 -2 -67% 0 1 -1 -100% 1 0 1 N/A 3 0 3 N/A 218 176 42 24%

Olowalu Kula/Ulupalakua/Kanaio Sprecklesville/Paia/Kuau Kahakuloa Napili/Kahana/Honokowai Lanai Kapalua Kaanapali Central Molokai Haiku Wailea/Makena Lahaina Kihei Nahiku Pukalani Hana Makawao/Olinda/Haliimaile Kipahulu Kaupo Maui Meadows MAUI SUMMARY

AVERAGE SALES PRICE Current Year Ago Percent YTD YTD Change Average Average $3,775,000 $810,000 366% $1,337,765 $819,692 63% $742,143 $465,000 60% $382,500 $241,250 59% $410,500 $270,950 52% $503,000 $350,000 44% $1,417,571 $982,500 44% $656,735 $474,577 38% $472,086 $342,209 38% $215,654 $163,091 32% $477,326 $413,261 16% $1,742,635 $1,768,980 -1% $779,000 $822,308 -5% $409,526 $493,250 -17% $220,000 $280,000 -21% $313,750 $470,000 -33% $176,000 $351,875 -50% $509,300 $1,543,000 -67% $0 $250,000 -100% $59,225 $0 N/A $516,667 $0 N/A $664,091 $564,148 18%

Olowalu Molokai Kaanapali Makawao/Olinda/Haliimaile Central Wailea/Makena Kapalua Lanai Kihei Pukalani Napili/Kahana/Honokowai Haiku Kahakuloa Lahaina Sprecklesville/Paia/Kuau Kula/Ulupalakua/Kanaio Nahiku Hana Kipahulu Kaupo Maui Meadows MAUI SUMMARY

MEDIAN SALES PRICE Current Year Ago Percent YTD YTD Change Median Median $3,775,000 $805,000 369% $132,000 $75,000 76% $716,931 $455,000 58% $450,000 $290,000 55% $249,000 $165,000 51% $1,225,000 $875,000 40% $1,098,000 $835,000 31% $445,000 $350,000 27% $320,000 $286,500 12% $260,000 $235,000 11% $282,500 $270,000 5% $385,000 $387,500 -1% $237,500 $241,250 -2% $784,000 $850,000 -8% $395,000 $465,000 -15% $525,000 $640,000 -18% $220,000 $280,000 -21% $175,000 $367,500 -52% $0 $250,000 -100% $59,225 $0 N/A $530,000 $0 N/A $399,500 $350,000 14%

TOTAL SALES FOR IMMEDIATE PAST 12 MONTHS 2013

2012 RESIDENTIAL

980 933 (18.8% REO or SS) (33.8% REO or SS) CONDO 1,334 (9.9% REO or SS)

1,248 (21.5% REO or SS)

LAND 224 (9.4% REO or SS)

173 (18.5% REO or SS)

REO - Real Estate Owned SS is Short Sale

LAND