Maui Real Estate Report February 2014

MAUI STATISTICS

Reta Chin-Chiarella

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

F E B RUA RY 2 0 1 4 2014 2013

RESIDENTIAL Units Units Central

15

16

2014 Median Price

2013 Median Price

2014

2013

10

13

CONDOMINIUM Units Units

$404,195

$349,500 Central

2014 Median Price

2013 Median Price

$323,500

$217,000 Central

LAND

2014 2013 Units Units 1

2

2014 Median Price $280,000

2013 Median Price $245,000

Haiku

2

5

$790,000

$600,000 Haiku

Haiku

0

1

$0

$370,000

Hana

1

0

$750,000

$0 Hana

Hana

1

1

$360,000

$4,587,999

Kaanapali

1

2

$3,083,120

$2,500,000 Kaanapali

5

1

$610,000

$500,000

Kapalua

1

1

$1,700,000

$1,795,000 Kapalua

Kihei

17

12

$580,000

$510,000 Kihei

Kula/Ulu/Kan

5

4

$600,000

$727,500 Kula/Ulu/Kan

Kahakuloa

9

12

$770,000

2

4

$935,000 $1,155,000 Kapalua

0

0

$0

$0

29

36

$305,000

1

2

$327,000

$635,000

1

1

$82,500

$549,000

$205,750 Lahaina

1

0

$730,000

$0

$102,350 Lanai

0

0

$0

$0

1

1

$400,000

$352,500

0

0

$0

$0

Kahakuloa

Kahakuloa

4

4

$910,000

$505,000 Lahaina

2

2

$855,000

Lanai

2

2

$400,000

$670,000 Lanai

0

2

$0

3

5

$385,000

Maalaea

$338,000 Kihei Kula/Ulu/Kan

Lahaina Maalaea

$498,500 Kaanapali

$320,000 Maalaea

Makawao/Olin/Halii

4

3

$467,500

Maui Meadows

2

1

$1,007,650

Molokai

0

0

$0

Napili/Kah/Hono

0

2

$0

$827,500 Napili/Kah/Hono

Olowalu

0

0

$0

$0 Olowalu

Olowalu

Pukalani

2

10

$544,500

$454,500 Pukalani

Pukalani

Sprecks/Paia/Kuau

2

2

$4,557,500

Nahiku

$412,500 Makawao/Olin/Halii

Makawao/Olin/Halii

$695,000 Maui Meadows

Maui Meadows

$0 Molokai

3

0

$129,990

23

16

$315,000

Nahiku

Wailea/Makena

2

2

$2,197,500

MAUI SUMMARY

60

66

$560,000

Nahiku

$492,000 Sprecks/Paia/Kuau $2,975,000 Wailea/Makena $537,500 MAUI SUMMARY

$0 Molokai

0

1

$0

$227,500

0

2

$0

$681,500

0

0

$0

$0

$815,000 Wailea/Makena

0

1

$0

$1,160,000

$360,000 MAUI SUMMARY

11

13

$400,000

$370,000

$330,000 Napili/Kah/Hono

Sprecks/Paia/Kuau 6

11

87

101

$1,800,44 4 $345,000

As of March 12, 1014 • Active/Pending/Contingent Sales Inventory:

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

2014 SINGLE FAMILY Year to Date Area Summary Report

Comparing 01/01/2013 thru 2/28/2013 with 01/01/2014 thru 2/28/2014

SINGLE FAMILY YEAR TO DATE

AVERAGE SALES PRICE

NUMBER OF SALES Current YTD Sales

Year Ago YTD

Current YTD Average

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

9 8 3 3 4 8 5 29 10 1 28 6 6 2 1 0 0 1 1

5 5 2 2 3 6 4 25 9 1 35 10 16 6 0 0 0 0 0

4 3 1 1 1 2 1 4 1 0 -7 -4 -10 -4 1 0 0 1 1

80% 60% 50% 50% 33% 33% 25% 16% 11% 0% -20% -40% -63% -67% N/A N/A N/A N/A N/A

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

$4,325,600 $508,500 $1,810,000 $518,333 $1,412,333 $507,760 $929,917 $516,563 $882,857 $645,382 $1,105,100 $907,500 $689,167 $570,890 $787,250 $731,556 $493,281 $467,983 $2,416,040 $2,500,000 $1,700,000 $1,795,000 $3,382,188 $3,626,000 $400,988 $435,821 $587,450 $747,550 $750,000 $0 $0 $0 $0 $0 $250,000 $0 $1,425,000 $0

MAUI SUMMARY

125

129

-4

-3%

MAUI SUMMARY

$1,142,909

Changes Units %

Year Ago YTD Average

$714,009

MEDIAN SALES PRICE Current YTD Median

Percent Change 751% 249% 178% 80% 37% 22% 21% 8% 5% -3% -5% -7% -8% -21% N/A N/A N/A N/A N/A 60%

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

Year Ago YTD Median

Percent Change

$4,000,000 $1,187,500 $663,500 $500,000 $585,000 $722,500 $712,500 $1,050,000 $2,197,500 $2,565,000 $404,098 $1,700,000 $495,000 $587,450 $750,000 $0 $0 $250,000 $1,425,000

$497,000 $550,000 $507,500 $389,950 $461,000 $587,450 $595,000 $907,500 $1,999,999 $2,500,000 $408,515 $1,795,000 $550,000 $790,000 $0 $0 $0 $0 $0

705% 116% 31% 28% 27% 23% 20% 16% 10% 3% -1% -5% -10% -26% N/A N/A N/A N/A N/A

$585,000

$550,000

6%

SFR February 2014 Sales Volume by Area Current Absorption Rate based on this month's Active inventory divided by OCTOBER sales is: FEBRUARY 2014 Current Absorption Rate Residential - 9.3 months of active inventory JANUARY 2014 Current Absorption Rate Residential - 8.9 months of active inventory 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)

TOTAL SALES FOR IMMEDIATE PAST 12 MONTHS 2014

2013 RESIDENTIAL

977 (17.3% REO or SS)

937 (31.8% REO or SS)

CONDO 1,357 (9.7% REO or SS)

1,241 (18.9% REO or SS)

LAND 224 (9.4% REO or SS)

174 (16% REO or SS)

REO - Real Estate Owned SS is Short Sale

SINGLE FAMILY

2014 CONDOMINIUM Year to Date Summary Report

Comparing 01/01/2013 thru 2/28/2013 with 01/01/2014 thru 2/28/2014

NUMBER OF SALES

CONDO YEAR TO DATE

Current YTD Sales

Year Ago YTD

AVERAGE SALES PRICE Current YTD Average

Changes Units %

MEDIAN SALES PRICE

Year Ago YTD Average

Percent Change

Current YTD Median

Molokai

4

1

3

300%

Lanai

$1,725,000

$102,350

1585%

Lanai

Napili/Kahana/Honokowai

46

26

20

77%

Lahaina

$857,714

$277,417

209%

Molokai

Kaanapali

19

16

3

19%

Molokai

$160,623

$91,000

77%

Lahaina

Lahaina

7

6

1

17%

Maalaea

$595,000

$348,756

71%

Wailea/Makena

Wailea/Makena

14

13

1

8%

Wailea/Makena

$1,551,849

$954,192

63%

Kihei

61

61

0

0%

Kaanapali

$976,437

$772,816

Lanai

2

2

0

0%

Kihei

$436,798

$370,190

Central

19

24

-5

-21%

Central

$211,237

$201,478

Maalaea Kapalua Sprecklesville/Paia/Kuau

6 3 0

8 6 1

-2 -3 -1

-25% -50% -100%

Napili/Kahana/Honokowai Kapalua Sprecklesville/Paia/Kuau

$341,944 $417,735 $1,094,167 $1,435,250 $0 $200,000

Year Ago YTD Median

Percent Change

$1,725,000

$102,350

1585%

$164,995

$91,000

81%

$490,000

$330,000

48%

$1,085,000

$775,000

40%

Maalaea

$477,500

$345,000

38%

26%

Kaanapali

$820,000

$623,750

31%

18%

Kapalua

$1,250,000

$957,500

31%

Kihei

$335,000

$325,000

3%

Napili/Kahana/Honokowai Central Sprecklesville/Paia/Kuau

$335,000 $160,000 $0

$370,000 $216,000 $200,000

-9% -26% -100%

5% -18% -24% -100%

Hana

0

0

0

N/A

Hana

$0

$0

N/A

Hana

$0

$0

N/A

Pukalani

0

0

0

N/A

Pukalani

$0

$0

N/A

Pukalani

$0

$0

N/A

181

164

17

10%

MAUI SUMMARY

$572,457

$467,131

23%

MAUI SUMMARY

$390,000

$344,000

13%

MAUI SUMMARY

Condo February 2014 Sales Volume by Area Current Absorption Rate based on this month's Active inventory divided by OCTOBER sales is: FEBRUARY 2014 Current Absorption Rate Condo - 8.6 months of active inventory JANUARY 2014 Current Absorption Rate Condo - 7.6 months of active inventory 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)

TOTAL SALES FOR IMMEDIATE PAST 12 MONTHS 2014

2013 RESIDENTIAL

977 (17.3% REO or SS)

937 (31.8% REO or SS)

CONDO 1,357 (9.7% REO or SS)

1,241 (18.9% REO or SS)

LAND 224 (9.4% REO or SS)

174 (16% REO or SS)

REO - Real Estate Owned SS is Short Sale

CONDOMINIUM

2014 LAND Year to Date Summary Report

Comparing 01/01/2013 thru 2/28/2013 with 01/01/2014 thru 2/28/2014 LAND YEAR TO DATE Kaanapali Kihei Makawao/Olinda/Haliimaile Kula/Ulupalakua/Kanaio Lahaina Haiku Kapalua Lanai Molokai Sprecklesville/Paia/Kuau Central Hana Kahakuloa Kaupo Maui Meadows Nahiku Napili/Kahana/Honokowai Olowalu Pukalani Wailea/Makena MAUI SUMMARY

NUMBER OF SALES Current Year Changes YTD Ago Units % Sales YTD 6 2 4 200% 3 1 2 200% 2 1 1 100% 2 4 -2 -50% 1 2 -1 -50% 1 3 -2 -67% 0 1 -1 -100% 0 1 -1 -100% 0 2 -2 -100% 0 4 -4 -100% 3 0 3 N/A 2 0 2 N/A 0 0 0 N/A 0 0 0 N/A 0 0 0 N/A 1 0 1 N/A 2 0 2 N/A 0 0 0 N/A 0 0 0 N/A 1 0 1 N/A 24 21 3 14%

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

AVERAGE SALES PRICE Current Year Ago Percent YTD YTD Change Average Average $370,000 $267,000 39% $584,500 $635,000 -8% $730,000 $827,000 -12% $376,250 $450,000 -16% $532,333 $700,000 -24% $315,750 $1,324,500 -76% $0 $2,750,000 -100% $0 $750,000 -100% $0 $208,500 -100% $0 $980,000 -100% $256,667 $0 N/A $2,474,000 $0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A $227,500 $0 N/A $681,500 $0 N/A $0 $0 N/A $0 $0 N/A $1,160,000 $0 N/A $669,021 $857,619 -22%

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

MEDIAN SALES PRICE Current Year Ago Percent YTD YTD Change Median Median $370,000 $262,000 41% $730,000 $827,000 -12% $555,000 $635,000 -13% $376,250 $450,000 -16% $315,750 $537,500 -41% $327,000 $700,000 -53% $0 $2,750,000 -100% $0 $750,000 -100% $0 $208,500 -100% $0 $672,500 -100% $275,000 $0 N/A $2,474,000 $0 N/A $0 $0 N/A $0 $0 N/A $0 $0 N/A $227,500 $0 N/A $681,500 $0 N/A $0 $0 N/A $0 $0 N/A $1,160,000 $0 N/A $385,000 $555,000 -31%

Land February 2014 Sales Volume by Area Current Absorption Rate based on this month's Active inventory divided by OCTOBER sales is: FEBRUARY 2014 Current Absorption Rate Land - 33.8 months of active inventory JANUARY 2014 Current Absorption Rate Land - 28.6 months of active inventory 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)

TOTAL SALES FOR IMMEDIATE PAST 12 MONTHS 2014

2013 RESIDENTIAL

977 (17.3% REO or SS)

937 (31.8% REO or SS)

CONDO 1,357 (9.7% REO or SS)

1,241 (18.9% REO or SS)

LAND 224 (9.4% REO or SS)

174 (16% REO or SS)

REO - Real Estate Owned SS is Short Sale

LAND