REAL ESTATE A SUPPLEMENT OF THE MAUI NEWS | FRIDAY, JULY 26, 2013
REAL ESTATE pg.
3
SCAMS
How to ensure you don’t become a victim
PLUS:
TIPS FOR THE FINAL WALK-THROUGH UNDERSTANDING YOUR HOME’S VALUE
KAHIAU >>>
Realtors giving from the heart for Maui | pg. 11
Understanding the appraised value of your home ou’ll hear several phrases used to describe the value of your home, especially as you prepare to buy or sell. One you’ll hear often as you prepare to sell is “appraised value.” This refers to an objective opinion about the value of the property. Appraisal, however, is not an exact science, so different appraisers may assign different values. When houses are being bought and sold, the appraisals are usually based
Y
Al Alfonzo (808) 344-8439
on the market value, what it is believed the property could probably be sold for. This is a number that is always in flux, especially in an active market like Maui. Besides appraised value and market value, you may also hear of insurance value, replacement value and assessed value for property taxes. These numbers will not all be the same. Appraised value is not a constant number. Any change in market conditions can dramatically change ap-
Carolann Guy (808) 871-8898
praised value. A nearby and similar home selling at an unexpected price or a change in the number of buyers looking for homes in a specific range will change the appraisal. Appraised value doesn’t take into consideration special circumstances that will change when a home is sold, such as the owner’s need to sell
rapidly. It is based on conditions that derive from the property and the market, not the buyer or seller. Lenders usually use the appraised value or the actual selling price of a property, whichever is less, to determine the amount of the mortgage they will offer. So, what’s the value of your home? Depends which value you’re asking about.
— Courtesy of the Realtors Association of Maui
on the cover:
Kisha Kawakami (808) 281-8099
This one-acre oceanfront property in Hana is being represented by Wendy R. Peterson of Island Sotheby’s. To find out more about this property, call Peterson at 870-4114 or email wendy@islandsir.com.
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A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T2
Sweet Deal or Sour Situation? By Lehia Apana Special Sections Editor he storyline is nothing new: a scammer offers something for an eye-catching price, devises attractive promises, then makes off with the cash before the victim realizes they’ve been duped. It’s a classic scheme that have left some Maui residents stunned — not to mention out of hundreds or thousands of dollars. This story is all too familiar for Terry Tolman, Chief Staff Executive at the Realtors Association of Maui. His office receives a steady stream of complaints relating to Craigslist real estate scams, in which a con artist will scour the Internet for photos and information of a property,
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How to identify and outsmart the scam artists Wailea Point Realty, Inc. ´/LYH XQOLNH \RX·YH HYHU OLYHG EHIRUHµ
Wailea Point - Hawaii's Finest Condominium Dave Wagner - Principal Broker Judy Gray - Broker in Charge Direct: 808-283-8660 Direct: 808-283-2666 www.WaileaPoint.com Office: 808-879-7233 A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T3
then use those details to create his or her own fake listing — almost always at a lower price to entice would-be renters. Once the deposit or first month’s rent is collected, the scammer disappears. In some cases, the scammer will ask for personal information to steal a person’s identity. “It’s a huge deal,” says Tolman, who adds that, “It’s usually the people who can least afford it who are getting scammed. That’s kind of the way these things work.” Tolman says he has heard reports of up to five parties showing up at a home on the first day of the month expecting to move in — with only one person paying the real owner. In another incident, a family arrived at a home to find that it See SCAM on Page 5
12
Tips for hiring a remodeling contractor
ost tips lists are reminders, but this one probably includes at least a few ideas you’ve never heard before. Most contractors are trustworthy business people who rely on their reputations, but it is never a mistake to prepare for surprises. Usually, tips lists are pick-and-choose affairs, but seriously considering every one of these hints is wise when you’re thinking of remodeling your home. ≤ Get written estimates from at least three different contractors, being sure all three are bidding on all the same details. ≤ Get references from the contractors and actually call the customers whose names they give you. Don’t be afraid to ask specific questions about the contractor and crews. Ask permission to see the finished work. ≤ Check whether there are complaints against the contractors you are considering by calling the Maui Cham-
M
Do you own one of the following types of properties located in Maui/ Hawaii, and are thinking of selling it in 2013? * Apartment Building * Shopping Center * Retail Building * Office Building * Industrial Property * Warehouse * Farmland * Raw Land Since 2004, 1031 DST (Delaware Statutory Trust) was created to qualify as Qualified Replacement Property, as provided in IRS Revenue Rule 2004-86, to satisfy IRS replacement property rules in a 1031 tax-deferred exchange. As an owner looking to sell your property, find out if you are a qualified accredited investor, how you can benefit from this IRS Rule as follows:
ber of Commerce at 871-7711 and the Hawai’i Better Business Bureau, toll-free on Oahu at (877) 2226551. ≤ Be sure there is a contract before work begins, and that it states exactly what work is to be done, and how change orders are to be handled. ≤ Make the smallest down payment you can negotiate to limit your losses in the event that the contractor fails to finish the job. ≤ Be sure that the contractor has the necessary permits, licenses and insurance. ≤ Check that the contract clearly states the finish date and spells out what recourse you have if the job is not finished as promised. Also, under most conditions, a contract signed at your home in Hawaii can be canceled within three days. You can read the details of Hawaii’s contract cancellation law online at www.povertylaw.org/legalresearch/hotline/hi/
V ABINETS & COUNTERTOPS Discontinued Formica $5.00 & Up
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53047j.htm ≤ Ask the contractor what parts of the job will be done by his or her own crew, what will be subcontracted and how he will supervise and manage all the workers. ≤ See that the contractor indemnifies you if the work fails to meet local building codes or regulations. ≤ Be sure the contract clearly states that the contractor is responsible to clean up after the job is done and be responsible for any damage done during the remodel. ≤ See that the materials to be used are specified. Then follow through by checking that those materials are used on the job. ≤ Do not make the final payment or sign any final documents until the work is done to your satisfaction.
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A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T4
808.280.7591 808.871.8807 ssly@slypropertiesofmaui.com www.slypropertiesofmaui.com I Take the Stress out of Buying & Selling
SCAM Continued from Page 3
was already occupied. Real estate scams are one of the most frequently reported Internet crimes in the nation, according to the Internet Crime Complaint Center. Its 2012 Internet Crime Report showed that last year alone, real estate scams in the United States were reported 14,432 times, with more than $15.4 million in losses. Judi Pasco, Executive Assistant and Professional Standards Administrator at the Realtors Association of Maui, estimates her office receives about one call a week related to this kind of scam, mostly from real estate agents worried that their property for sale is also listed on Craigslist for rent. When this happens, she will send that person an email with information on how to report the incident to authorities. “Someone desperate to find a home is going to believe because they want to believe,� she says. “The hardest part is when you find out that someone has actually sent the money.� Pasco adds that while people are still being duped, she is hopeful that people are learning from other’s mistakes.
“A couple years back it was way worse,� she remembers. “I think the word gets around, which is why it’s not as frequent, but we’re still getting people calling us about this.� In an age when people are becoming increasingly comfortable with online transactions, that convenience can come at a high price, warns Chris Duque, CyberCrimes Investigator with the Department of the Prosecuting Attorney in Honolulu. One red flag, he says, is deal-
pretty good, adds Duque. He has heard countless stories of people being fooled with rental scams, and says that when it comes to protecting yourself from being victimized, one familiar saying still stands. “It’s human nature that people are looking for that free ride, but if it’s too good to be true, it is,� he says. ■Lehia Apana can be reached at lehia@mauinews.com.
How to spot a scam: � Suspicious looking email address. If the person’s email address appears as a mish-mash of numbers and letters, beware. These are often automatically generated by a computer in order to be untraceable. � They accept bad credit. Oftentimes, scammers will say things like “bad credit okay� to entice those with lousy credit, thus targeting on those who are desperate to find a place to live because they’ve been turned down elsewhere. � Person is out of the country. Many scammers claim to be out of the country,
Sweet Upcountry Charmer ~ Kula
Beautiful, peaceful and private, this 2 bedroom, 1 bath Kulalani Circle home is situated on over a 1/4 acre with ocean and garden views! Enjoy the large decks overlooking the property and vaulted ceilings, giving the home a spacious and relaxing feel.
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ing with a person exclusively online. “Whenever you post something on the Internet, and even in traditional newspaper advertisements, it’s always buyers beware,� says Duque. “If you don’t see this person, you’re relying on a trust factor, and the scammers know that, so they can easily create or manipulate a facade.� With more than 2 billion people using the Internet, the chances that one of them is going to fall for a scheme is
oftentimes for a job or on missionary work. For the latter, the emails may include words like “God bless you� and other religious sentiments in order to appear trustworthy. � Money transfers. The person asks you to send money via money transfer. If you’re sending money through a service like Western Union, it’s almost always a scam. � Rent is below the market. If the rent is far cheaper than what is typical for that area, proceed with caution. Things that are too good to be true usually are.
Spectacular 1 Acre Oceanfront ~ Hana
Situated on an exceptional one acre oceanfront parcel, this amazing 3 bedroom, 4 bath island home is reminiscent of the classic Maui Beach House! Enjoy the peace and tranquility of Hana. This island home features a spacious floor plan with solid wood floors, picture windows and vaulted ceilings. Offered at $1,950,000
808.572.8600 ,HJO VMĂ„JL PZ PUKLWLUKLU[S` V^ULK HUK VWLYH[LK
If you feel you’ re being targeted or have fallen victim to a scam, here’ s what to do: � Report suspicious activity to the Internet Crime Complaint Center at www.ic3.gov. � Contact Craigslist and flag the message for deletion. Another option is to create your own Craigslist post advertising the same property at an even lower price to ensure it appears at the top of the search list. Make it clear in your listing that the property is “NOT FOR RENT� or “THIS IS A SCAM.�
8SFRXQWU\ 2IĂ€FH www.islandsir.com
A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T5
Wendy R. Peterson Realtor (S) GLUHFW ZHQG\#,VODQG6,5 FRP
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A B ALAELOA B2
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Kaanapali
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Front St.
West Maui LEINANI APARTMENTS C2
NOHONANI C2
3901 L. Honoapiilani Rd.
3750 L. Honoapiilani Rd.
3723 L. Honoapiilani Rd.
ASTON KAANAPALI SHORES C2
HYATT REGENCY MAUI D2
LOKELANI C2
OPUKEA D2
3445 L. Honoapiilani Hwy.
Nohea Kai Drive at Kaanapali
3833 L. Honoapiilani Rd.
1001 Keawe St.
ASTON MAUI ISLANDER E2
INTERNATIONAL COLONY CLUB C2
MAHANA C2
PAKI MAUI C2
660 Wainee Street
2750 Kalapu Drive
110 Kaanapali Shores Pl.
3615 L. Honoapiilani Rd.
ASTON SANDS OF KAHANA C2
KAANAPALI ALII D1
MAHINA SURF C2
PAPAKEA BEACH RESORT C2
4299 L. Honoapiilani Hwy.
50 Nohea Kai Dr. at Kaanapali
4057 L. Honoapiilani Rd.
3543 L. Honoapiilani Rd.
CHANNEL HOUSE E2
KAANAPALI BEACH HOTEL D1
MAHINAHINA BEACH C2
PIKAKE C2
1010 Front Street
2525 Kaanapali Parkway
4007 L. Honoapiilani Rd.
3701 L. Honoapiilani Rd.
COCONUT INN B3
KAANAPALI PLANTATION C2
MAKANI SANDS C2
PIONEER INN HOTEL E2
181 Hui Road F
150 Puukolii Road
3765 L. Honoapiilani Rd.
EMBASSY VACATION RESORTS C2
KAANAPALI ROYALE D2
THE MAUIAN B2
658 Wharf St., at Lahaina Harbor
104 Kaanapali Shores Pl.
2560 Kekaa Drive
5441 L. Honoapiilani Rd.
PLANTATION INN E2
THE GARDENS AT WEST MAUI B3
KAHANA BEACH RESORT C2
MAUI BREAKERS C2
174 Lahainaluna Road
369 L. Honoapiilani Hwy.
4221 L. Honoapiilani Rd.
3702 L. Honoapiilani Rd.
POHAILANI MAUI C2
HALE MAHINA C2
KAHANA FALLS B2
4435 L. Honoapiilani Rd.
3875 L. Honoapiilani Hwy.
4260 L. Honoapiilani Rd.
HALE MAUI HOTEL C2
KAHANA GATEWAY APTS B2
MAUI ELDORADO D2 2661 Kekaa Dr. at Kaanapali MAUI ISLANDER E2
3711 L. Honoapiilani Hwy.
4465 Honoapiilani Hwy.
660 Wainee Street
PUAMANA E2
HALE NAPILI B2
KAHANA MANOR B2
MAUI KAANAPALI VILLAS C2
34 Puailima Place
65 Hui Drive
4310 L. Honoapiilani Rd.
2805 Honoapiilani Hwy.
PUNA POINT B2
HALE ONO LOA C2
KAHANA OUTRIGGER B2
MAUI KAI C2
5900 L. Honoapiilani Rd.
3823 L. Honoapiilani Rd.
4521 L. Honoapiilani Rd.
106 Kaanapali Shores Place
PUUNOA BEACH ESTATES D2
HALE ROYALE C2
KAHANA REEF B2
MAUI MARRIOTT HOTEL D2
45 Kai Pali Place
3788 L. Honoapiilani Rd.
4471 L. Honoapiilani Rd.
Nohea Kai Drive at Kaanapali
RITZ CARLTON KAPALUA A3
HOLOLANI C2
KAHANA SUNSET B2
SUNSET TERRACE C2
One Ritz Carlton Drive
4401 L. Honoapiilani Rd.
4909 L. Honoapiilani Rd.
3626 L. Honoapiilani Rd.
ROYAL HALE C2
HONO KOA C2
KAHANA VILLAS B2
MAUI SANDS C2
2780 Kekaa Drive at Kaanapali
3801 L. Honoapiilani Rd.
4242 L. Honoapiilani Rd.
3559 L. Honoapiilani Rd.
ROYAL KAHANA C2
HONOKEANA COVE B2
KALEIALOHA C2
NAPILI BAY HOTEL B2
4365 L. Honoapiilani Rd.
5255 L. Honoapiilani Rd.
3785 L. Honoapiilani Rd.
33 Hui Road
ROYAL LAHAINA RESORT C2
HONOKOWAI EAST C2
KAPALUA BAY VILLAS A3
NAPILI GARDENS B2
2780 Kekaa Drive at Kaanapali
3660 L. Honoapiilani Rd.
500 Bay Drive, Kapalua
5432 L. Honoapiilani Rd.
SHERATON MAUI C2
HONOKOWAI PALMS C2
KAPALUA GOLF VILLAS B3
NAPILI KAI BEACH RESORT B2
2605 Kaanapali Parkway
3666 L. Honoapiilani Rd.
100 Kapalua Drive
5900 L. Honoapiilani Rd.
THE COCONUT GROVE A3
HONOKOWAI SUNRISE C2
KAPALUA RIDGE VILLAS B3
NAPILI LANI B2
On Kapalua Drive
3676 L. Honoapiilani Rd.
100 Ridge Drive
5900 L. Honoapiilani Rd.
THE RITZ-CARLTON RESIDENCES A3
HONUA KAI RESORT & SPA C2
KULAKANE C2
NAPILI PUAMALA B2
1234 Kapalua Bay Drive
130 Kai Malina Parkway
3741 L. Honoapiilani Rd.
50 Napili Place
THE SPINNAKER E2
KULEANA I & II C2
NAPILI POINT B2
760 Wainee Street
3959 L. Honoapiilani Rd.
5295 L. Honoapiilani Rd.
LAHAINA INN E2
NAPILI RIDGE B3
THE WESTIN KAANAPALI OCEAN RESORT VILLAS C2
127 Lahainaluna Road
120 Hui Road F
6 Kai Ala Drive
LAHAINA RESIDENTIAL E2
NAPILI SHORES B2
VALLEY ISLE RESORT C2
1034 Front Street
5315 L. Honoapiilani Rd.
4327 L. Honoapiilani Rd.
LAHAINA ROADS E2
NAPILI SURF B2
WESTIN MAUI D2
1403 Front Street
50 Napili Place
2365 Kaanapali Parkway
NAPILI SUNSET B2
THE WHALER D1
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HOYOCHI NIKKO C2
20 Alaeloa #8
Lahaina
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Kapalua 30
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46 Hui Road
POLYNESIAN SHORES C2
Condominium & Resort Directory Wailuku
3975 L. Honoapiilani Rd.
Kahului 36 37 37
380
2481 Kaanapali Parkway
NAPILI VILLAGE HOTEL B2 48 Hui Road F
F
LAHAINA SHORES E2 475 Front Street
350 31
NOELANI C2 4095 L. Honoapiilani Rd.
Maalaea
Kihei G 31
MAUI H
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A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T6
Maalaea
Kihei G 31
MAUI H
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South Maui
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ALOHA PUALANI G6
KAMAOLE BEACH CLUB H7
KIHEI KAI RESORT F6
MAKANI A KAI G5
NANI KAI HALE F6
15 Wailana Place, Kihei
2381 S. Kihei Road, Kihei
61 N. Kihei Road, Kihei
300 Haouli St., Maalaea Village
73 N. Kihei Road, Kihei
AUHANA HALE H7
KAMAOLE BEACH ROYALE H7
KIHEI KAI NANI I7
MAKENA BEACH & GOLF RESORT J6 NONA LANI COTTAGES G6
90 Auhana Road, Kihei
2385 S. Kihei Road, Kihei
2495 S. Kihei Road, Kihei
5400 Makena Alanui, Kihei
455 S. Kihei Road, Kihei
AWIHI TOWNHOUSE H6
KAMAOLE NALU I7
KIHEI MANOR H7
MAKENA SURF J6
ONE KOUNOU PLACE H7
2141 Awihi Place, Kihei
2450 S. Kihei Road., Kihei
2136 Konou Place, Kihei
96 Makena Rd., Kihei
2152 Kounou Place, Kihei
BAY VISTA APARTMENTS H7
KAMAOLE ONE H7
KIHEI PARKSHORES H6
MALUHIA AT WAILEA I7
OUTRIGGER MARRIOTT I7
2140 Awihi Place, Kihei
2230 S. Kihei Road, Kihei
2037 S. Kihei Road, Kihei
3400 Wailea Alanui, Kihei
3700 Wailea Alanui Drive, Kihei
HOTEL WAILEA I7
KAMAOLE PARK H7
KIHEI REGENCY H7
MANA KAI MAUI I7
PACIFIC SHORES APARTMENTS H7
555 Kaukahi, Kihei
Keonekai Street, Kihei
2441 S. Kihei Road, Kihei
2960 S. Kihei Road, Kihei
2219 S. Kihei Road, Kihei
FOUR SEASONS WAILEA J7
KAMAOLE SANDS I7
KIHEI RESORT H7
MAUI BANYANS I7
THE PALMS AT WAILEA I7
3900 Wailea Alanui Dr., Kihei
2695 S. Kihei Road., Kihei
777 S. Kihei Roads, Kihei
2575 S. Kihei Road, Kihei
3150 Wailea Alanui, Wailea
GRAND CHAMPION GOLF & TENNIS VILLAS I7
KAMOA VIEWS H7
KIHEI SANDS F6
MAUI BEACHFRONT RESORT H6
POLO BEACH CLUB J6
115 N. Kihei Road, Kihei
1312 Uluniu Road, Kihei
20 Makena Road, Kihei
KIHEI SHORES I6
MAUI COAST HOTEL H7
PUNAHOA BEACH I7
2747 S. Kihei Road, Kihei
2259 S. Kihei Road, Kihei
2142 Iliili Road, Kihei
KIHEI SURFSIDE I7
MAUI COURT I7
ANDAZ MAUI AT WAILEA I7
2936 S. Kihei Road, Kihei
2747 S. Kihei Road, Kihei
3550 Wailea Alanui Drive, Kihei
KIHEI VIEW H7
MAUI GARDENS H6
ROYAL MAUIAN I7
Keonekai Street, Kihei
1450 S. Kihei Road, Kihei
2430 S. Kihei Road, Kihei
KIHEI VILLA H7
MAUI HILL I7
ROYAL MENEHUNE H6
2135 S. Kihei Road, Kihei
2881 S. Kihei Road, Kihei
2061 S. Kihei Road, Kihei
KIHEI VILLAGES F7
MAUI ISANA RESORT G6
SLEEPY HOLLOW H6
140 Uwapo Road, Kihei
515 S. Kihei Road, Kihei
1667 S. Kihei Road, Kihei
KIMO KE APARTMENTS I7
MAUI KAMAOLE I7
SHORES OF MAUI H6
10 Walaka Street, Kihei
2777 S. Kihei Road, Kihei
2075 S. Kihei Road, Kihei
KOA KAI APARTMENTS H7
MAUI LU RESORT G6
SUGAR BEACH RESORT F6
99 Walaka Street, Kihei
575 S. Kihei Road, Kihei
145 N. Kihei Road, Kihei
KOA LAGOON G6
MAUI OCEANFRONT HOTEL I7
VILLAGE BY THE SEA G6
800 S. Kihei Road, Kihei
2980 S. Kihei Road, Kihei
4327 S. Kihei Road., Kihei
KOA RESORT H7
MAUI PALISADES H7
WAILANA SANDS G6
811 S. Kihei Road, Kihei
Kilohana Street, Kihei
25 Wailana Place, Kihei
LAULOA G5
MAUI PARKSHORE I7
WAILEA EKAHI I7
100 Hauoli St./Maalaea Village
2653 S. Kihei Road, Kihei
3300 Alanui Drive, Kihei
LEILANI KAI H6
MAUI SCHOONER RESORT H6
WAILEA EKOLU VILLAGE J7
1226 Uluniu, Kihei
980 S. Kihei Road, Kihei
10 Wailea Ekolu Place, Kihei
LEINAALA H6
MAUI SUNSET H6
WAILEA ELUA VILLAGE I7
998 S. Kihei Road, Kihei
1032 S. Kihei Road, Kihei
600 Alanui Drive, Kihei
LIHI KAI COTTAGES I7
MAUI VIEW APARTMENTS H7
WAILEA GOLF VISTAS I7
2121 Iliili Street, Kihei
76 Walaka, Kihei
Above the Blue Course, Wailea
LUANA KAI H6
MAUI VISTA H7
WAILEA POINT J7
940 S. Kihei Road, Kihei
2191 S. Kihei Road, Kihei
4000 Wailea Alanui, Kihei
MAALAEA BANYANS G5
MENEHUNE SHORES G6
WAIOHULI BEACH HALE H6
190 Hauoli St./Maalaea Village
760 S. Kihei Road, Kihei
49 Lipoa Street, Kihei
MAALAEA KAI G5
MILOWAI G5
WAIPUILAN H6
70 Hauoli St./Maalaea Village
50 Hauoli St./Maalaea Village
1002 S. Kihei Road, Kihei
MAALAEA MERMAID G5
NA HALE KAI G6
20 Hauoli St./Maalaea Village
34 Wailana Place, Kihei
MAALAEA SURF RESORT F6
NA HALE O MAKENA J6
12 S. Kihei Road, Kihei
4955 Makena Road, Kihei
MAALAEA YACHT MARINA G5
NA HOLOKA I G6
30 Haouli St., Maalaea Village
34 Wailana Place, Kihei
2124 Awihi Place, Kihei Above Wailea Alanui Dr., Wailea KANA'I A NALU G5 GRAND WAILEA RESORT J7 250 Hauoli St./Maalaea Village 3850 Wailea Alanui Dr., Wailea KANOE RESORT H7 HALE HUI KAI I7 2050 Kanoe Street, Kihei 2994 S. Kihei Road, Kihei KANOELANI APARTMENTS H7 HALE ILI ILI J7 2065 Kanoe Street, Kihei 2172 Iliili Road, Kihei KAPULANI KAI H6 HALE KAI O'KIHEI H6 73 Kapu Place, Kihei 1310 Uluniu Road, Kihei KAU HALE MAKAI H6 HALE KAMAOLE I7 930-938 S. Kihei Road, Kihei 2737 S. Kihei Road, Kihei KE ALII OCEAN VILLAS H7 HALE MAHIALANI H7 28 Hauwahine Lane, Kihei 21 Kaiau Place, Kihei FAIRMONT KEALANI J6 HALE PAU HANA I7 4100 Wailea Alanui Drive, Kihei 2480 S. Kihei Road, Kihei KEALIA F6 HALEAKALA GARDENS H7 191 N. Kihei Road, Kihei 15 Kulanihakoi, Kihei KEAWEKAPU I7 HALEAKALA SHORES I7 2895 S. Kihei Road, Kihei 2619 S. Kihei Road, Kihei KEONEKAI VILLAGES H7 HO‘OLEI AT GRAND WAILEA J7 160 Keonekai Road, Kihei 146 Ho‘olei Circle, Wailea KIAWE TERRACE G6 HONO KAI G5 851 S. Kihei Road, Kihei 280 Hauoli St./Maalaea Village KIHEI AKAHI I7 ISLAND SANDS G5 2531 S. Kihei Road, Kihei 150 Hauoli St./Maalaea Village KIHEI ALII KAI I7 ISLAND SURF H6 2387 S. Kihei Road, Kihei 1993 S. Kihei Road, Kihei KIHEI BAY SURF G7 KAI MAKANI BEACH VILLAS F7 715 S. Kihei Road, Kihei Kai Makani Loop, Kihei KIHEI BAY VILLAS G7 KAI MALU AT WAILEA J6 775 S. Kihei Road, Kihei 3550 Wailea Alanui Drive, Kihei KIHEI BEACH RESORT G6 KALAMA GARDENS H7 36 S. Kihei Road, Kihei 36 Walaka Street, Kihei KIHEI COVE I7 KAIAMA TERRACE H7 2181 Iliili Road, Kihei 35 Walaka Street, Kihei KIHEI GARDEN ESTATES H6 KALAMA TOWNHOUSE H7 1299 Uluniu Road, Kihei 46 Walaka Street, Kihei KIHEI HOLIDAY G6 KALAMA VILLA H7 483 S. Kihei Road, Kihei 2144 Konou Place, Kihei
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Wailea
Makena
How To Use This Map The condominiums & hotels in West Maui and South Maui are listed here in alphabetical order according to region. A grid letter and number coordinate is listed with each property for map location. Be advised that street addresses are not necessarily the correct mailing address. (Example: Addresses in the Maalaea area are served by Rural Route Delivery from the Wailuku Post Office.)
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1279 S. Kihei Rd., #119, Azeka Mauka, Kihei, HI 96753 A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T7
U.S. home sales dip but remain near 3.5-year high By CHRISTOPHER S. RUGABER AP Economics Writer U.S. sales of previously occupied homes slipped in June to a seasonally adjusted annual rate of 5.08 million but remain near a 3.5-year high. The National Association of Realtors said last week that sales fell 1.2 percent last month from an annual rate of 5.14 million in May. The NAR revised down May’s sales, but they were still the highest since November 2009.
Despite last month’s dip, home sales have surged 15.2 percent from a year ago. Sales have recovered since early last year, buoyed by job gains and low mortgage rates. Still, mortgage rates have surged in recent weeks over concern that the Federal Reserve could slow its bond-buying programs later this year. The Fed’s bond purchases have helped keep long-term mortgage and other rates low. Higher mortgage rates slowed sales last month of higher-priced homes in states such as California and New York, the Realtors group said. The average rate on a 30-year fixed mortgage leapt to 4.46 percent by the end of June from 3.81 percent at the end of May. The rate was 4.37 percent last week. That rate increase could hamper sales in coming months, economists said. But most expect housing to continue to recover, though at a slower pace. “There’s little doubt the housing market slowed in the summer as mortgage rates rose,” Dan Greenhaus, chief global strategist at BTIG LLC, an institutional brokerage, said in a note to clients. “Housing is still expected to grow
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and contribute to economic output. It just may not be at the pace we’ve seen of late.” Sales of previously occupied homes in June reflect contracts that were mostly signed in April and May, when mortgage rates were lower. Rising rates can cause some signed contracts to fall through if buyers no longer qualify for mortgages at higher rates. The one factor that’s most likely holding back sales is a limited supply of homes available. Though more sellers put their homes on the market in June, the supply remained unusually low — nearly 8 percent less than a year ago. At the current sales pace, the number of homes for sale would be exhausted in 5.2 months. That’s below the six months’ supply that’s consistent with a healthy housing market. Another concern is that first-time buyers, who usually drive healthy markets, aren’t participating as much in the current recovery. They made up only 29 percent of buyers in June, below the 40 percent that is typical. Since the housing bubble burst more than six years ago, banks have imposed tighter credit conditions and required larger down payments. That’s made it harder for first-time buyers to qualify for mortgages. Still, mortgage rates remain relatively low and home prices remain affordable despite rising in the past year. And higher mortgage rates could encourage some potential buyers to come off the sidelines and purchase homes before rates rise further. The strength in housing this year has offset weaknesses elsewhere in the economy, like manufacturing and business investment. Rising home sales tend to lead to more spending at furniture and home supply stores. Homebuilders have also stepped up construction in the past year, creating more construction jobs. In June, they applied for permits to build single-family homes at the fastest pace in five years.
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A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T8
Centrally located at 1877 Wili Pa Loop #2, Wailuku – ready to assist you islandwide.
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Make a checklist for the final walk-through ou’re on the very brink of becoming a home owner, perhaps for the first time. That’s great, but don’t let your excitement cause you to do a haphazard final walkthrough. Don’t let the views distract you from noticing whether the window treatments are in place, for example. If you overlook something at his point, it may become an issue you cannot bring up again. Here are ten things you’ll definitely want to look for. Having a checklist in hand is a good idea.
Make certain that you have any and all remote controls. Getting the garage door openers is obvious, but remember to see that the remotes and the door work. Also, are there remotes for the alarm or any built-in entertainment devices?
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Don’t just ask, check that repairs you requested have been made. Get copies of paid bills and any warranties. Remember that warranties may be spelled out on the bill or receipt, or they may be supplied separately.
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See that everything included in the sale price is still in place. This might include draperies and lighting fixtures. If it was specified before, it must still be on the property.
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Screens usually stay in place on Maui, and storm windows are rare, but check. If there are missing screens, for instance, find out where they are stored.
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As you check all the appliances, machines, fixtures and features, ask for manuals, warranties and repair histories.
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Don’t be embarrassed to start the dishwasher on its normal cycle, and to find out for yourself that all included appliances are working.
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Try the doorbell and check the operation of the alarm system. Ask for any instruction manual that may help with the use of the alarm, and be sure you are informed of any maintenance contract or response service company involved with it. If there is an intercom, be sure it works to and from all stations.
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Be sure the water heater is working and not leaking. There may be more than one. Check them all.
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If there is air conditioning or, in rare cases on Maui, a heating system, see that these are in working order.
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Be sure that plants and landscaping elements have not been removed and that any powered water feature in the yard or home is working properly.
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Finally, be sure that all personal items of the sellers – including trash and debris – are already removed. If they are not, the property is not completely ready for a final walk-through.
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Keep your eyes open during the walk-through and you’ll have plenty of time for the views soon, and for a long time to come. —Courtesy of the Realtors Association of Maui
Be aware: Neglected repairs like water leaks, faulty appliances or broken alarm systems are just a few of the things you need to look for during the final walk-though.
331 Ho‘okahi St., Suite 202 Wailuku, HI 96793
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shoretoshorerealty.net A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T9
Are you prepared to be a home owner? ou want to own a home of your own. That makes sense. You’d be wise to know what home you can afford and what home ownership really means. Here are a 10 things to check, know or work out. 1. The general rule is that you can afford to buy a home that is valued at two to three times your annual income. If that seems impossibly restrictive in Maui’s soaring market, don’t give up. Talk to a lending professional about creative options that may be right for you. 2. Make a list of what you want your new home to have. Then, put the items in order—most important first. You may not get everything in your first home. Maybe you’ll have to build or develop some of the things that are lower on the list after you buy. That means checking that those things are actually possible on the property, of course.
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3. Think about schools, beaches, parks and the community plans of various areas, and choose two or three areas of the island that you’d be willing to live in. 4. Save up the money you’ll need for a down payment and the closing costs. Generally, the closing costs will be between 2 and 7 percent of the total selling price of the home. So, a home selling for $200,000 will have closing costs of $4,000 to $14,000, in addition to the down payment. 5. Get your credit information in order. Check your credit reports on the three major reporting services (Equifax, TransUnion and Experian) and correct any inaccurate information. 6. Using available online resources or published charts or, better yet, in discussion with a lending professional, determine how much of a mortgage you can qualify for. As with tip No. 1 above, it may be that
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Jenifer Raidor • 970.417.0271 you should consider non-standard loan options or creative financing. 7. Be sure to have all the documents a lender might ask for ready to go. Granted, you may not know what documents are useful. Guess. When in doubt, add it in. Then call the lender you’re planning to talk to see if they can suggest anything else. 8. Look into special circumstances that may qualify you for any kind of special mortgage or down payment assistance. Veteran? First-time buyer? Also, ask your lender to tell you about other possibilities for special consideration. 9. Calculate the cost of home ownership in advance to avoid surprises. The mortgage is the main expense, but there are also property taxes, insurance, property maintenance and, in many cases, association fees for the building or neighborhood. 10. Find a Realtor you’re comfortable with, one with Maui experience and an attitude that you feel you can work with. Your Realtor will be with you, representing you, through the entire home-buying process. Buying your first home is an adventure. You’ll enjoy it more if come to the process prepared.
WWW.MAUIHOMESALES.COM A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T10
—Courtesy of the Realtors Association of Maui
Realtors giving from the heart for Maui By Joseph W. Bean ften, when things don’t work out as planned, someone will say, “When at first you don’t succeed, try, try again.” Other times, the correct reaction to things going all wrong is a round of congratulatory applause. This is one of those cases, and this one has now been going strong for eight years. Maybe you’ve noticed. In August 2005, as he was preparing for his installation as the Bean president of the Realtors Association of Maui, Keone Ball told everyone he was on a mission. “My goal is to get everybody in the as-
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sociation to commit to do one hour a month of volunteer work. If we can get 1,500-plus Realtors to donate that one hour a month, that’s 1,500 hours to start with, and it could be much more.” Ball named his volunteer program “Kahiau,” and defined the rarely heard Hawaiian word as, “to give generously or lavishly with the heart and not with expectation of return.” Ball’s plan involved a special network of websites, a registration system, and much more. The idea was to match Realtors and affiliates—members who are lenders, inspectors, title company people, appraisers, photographers, and such—with needs expressed by nonprofits serving the communities of Maui County. Also, there was meant to be some promotion, maybe a framed ad in The Maui News if RAM could afford it. The Association hired a consultant-writer to work on that. That’s me, and task No. 1 of the contract was to meet with Special Sections Editor at the time, Rich Van Scoy, to work something out with the newspaper. Nerve-wracking? You bet, but no need. Van Scoy liked the idea, worked it out with his bosses, and even arranged to design the space and create a logo for the column. The paper would donate the space, too. The Maui News was on board. “The Maui News has always been a great partner with Realtors and affiliates and with the Realtors Association of Maui through thick and thin,” said RAM Chief Staff Executive Terry Tolman. “Their sup-
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port of our community outreach efforts, Presidential Scholarships, and the Realtors Wishing Well . . . for Maui Students program has made it all possible. By publishing the Kahiau column each Saturday, The Maui News supports Maui’s nonprofit organizations and the individuals who volunteer for them. Mahalo, Maui News!” What was that up earlier about things not working out? Well, none of the folderol Ball imagined was needed. None of it. “When I started this,” Ball said, “I wanted to ask everyone to volunteer, to get involved. I didn’t realize a lot of them—officers, directors, Realtors, and affiliates— were already doing it. The public may not have known it, and I didn’t know, but real estate people really were already very engaged with the community and doing a lot of good things.” At a kickoff meeting held at Starbucks in Kihei, the Public Relations Committee was able to suggest four start-up subjects. Everyone thought that would keep things going till the whole system—unnecessary as you already know—got going. In fact, by the time the first Kahiau column was published on Sept. 17, 2005, there were more than a dozen other real estate people lined up waiting to tell their community service stories and promote the causes they believe in. That wasn’t the plan. This train was supposed to need help getting out of the station. “I’m happy it went this way,” Ball said,
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“very much so. People were already volunteering and serving the community. The next goal was letting the community know that Realtors are out there, and then using that news as a way of encouraging more involvement and action from everyone.” No one knew until Kahiau provided a way to say it, but now every Saturday in The Maui News, everyone can find out that the real estate community really loves Maui. In the first eight years, the first 416 Kahiau columns, the stories of nearly 220 beneficiaries—nonprofits and needy individuals in Maui—have been told, and that’s not counting the 30-plus schools that have been supported so richly by many individuals within and beyond the Realtors Wishing Well . . . for Maui Students program. Did you even know there are that many organizations reaching out to Mauians in need? Admit it, you didn’t, but here are a couple of even more surprising facts. With the support of The Maui News, more than 425 real estate industry people have been featured with hundreds of others playing supporting roles in their service stories, and these people have been representatives of more than 150 real estate-related companies. “With the Kahiau column, people see that Realtors are not different,” said Ball. “We’re just like you, and we’re part of this Maui community.” He didn’t know. You didn’t know. Now everyone knows.
1888 Wili Pa Loop, Wailuku Mon-Fri 8:30am - 4:30pm
www.mauicountyfcu.org • 244-7968 Maui Marketplace, Kahului Mon-Fri 9am - 5pm • Sat. 8:30am - 12:30pm
A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T11
A 1.
What’s your current equity? Look at your annual mortgage statement or call your lender to find out exactly how much equity you have in your home. Usually, you don’t build up much equity in the first years of paying a mortgage, but in later years you may have significant unrealized gains. How’s your income? Is your current income enough to support the cost of moving and the costs of a new mortgage?
are appropriate for them. If you have family members living nearby, are you willing to move away from them? Does this neighborhood work for you as it did when you moved into it?
3.
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What about your neighborhood? Maybe you have children in school; consider whether the schools
Financing your next project is easy...
Could you remodel or add-on to make the home you are in work for your family? Remodeling and adding rooms can be difficult and stressful, but if you have a large enough yard to build into, you should at least consider these options. Alternatively, do you have a meaningful use for rooms you once needed for children who have moved on?
5.
How is the home market? If it’s good, you may get top-dollar for your home, but you also want to think
whether that money will be enough to get you into the kind of home you now need or want.
6.
Besides the money you may get for your home and the price you may have to pay for a new home, include the interest rate of your current mortgage and the rate you’ll have to pay on a new one. Lower rates will help you find a buyer for your home as much as they will help you get into a new home.
You’ll know you’ve done the best you can for your family if you think carefully before you decide to sell your home and move. —Courtesy of the Realtors Association of Maui
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A Supplement of THE MAUI NEWS – Friday, July 26, 2013 – Page T12
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Should you move or stay in your home?
nswering these few questions carefully and honestly will help you decide if you should move or stay in the home you have now. Think through your answers. Have your family members think of theirs. Then, get together and discuss the answers until your thoughts lead to a decision that makes everyone comfortable.