BUYER’S GUIDE For
TABLE OF CONTENTS Table of Contents Our Mission Statement Listings We Will Preview Meet the Team Join Us for a Nickel Tour Why Choose Lifestyle Maui Real Estate Team? Questions to Consider When Buying on Maui How We Help You Buy Your Maui Property Financing vs. Cash Thou Shalt Not What to Expect From Your Home Inspection What to Expect at Closing Maui Market Statistics Frequently Asked Questions Team Testimonials Maui Tax Rates Purchase & Sale Home Inspections Settlement & Closing Affiliate Team Moving Tips Glossary Giving Back Already an Owner? Our Affiliations
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
OUR MISSION STATEMENT We do not just sell real estate… ...our goal is to help you live the Maui Lifestyle.
We love sharing the passion and joy that comes from living on Maui, with our clients. We understand that purchasing "property" is only one piece of the puzzle. We want to be your expert Maui resource before, during, and after your entire experience relating to living the Maui Lifestyle.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
MEET OUR TEAM Tom Tezak, Team Leader, Broker/Owner Tom Tezak’s business slogan boldly reads “life is precious, make it count,” and this personal belief wholly resonates throughout his daily life and career. Tom has managed to not only become one of the most successful Brokers in Hawaii - but he also understands the importance of being a loving husband and father. It’s Tom’s dedication to this delicate balance of business and family that keeps him firmly grounded. And what better place to have your feet grounded than in the beautiful paradise that is Maui. Tom learned the value of a strong work ethic early on while growing up in Joliet, Illinois. His father, an active member of the community with a sharp sense of humor and strong values, instilled in him the importance of doing the right thing in all situations. “Do the right thing for people,” he would tell Tom, “and everything else will follow.” Tom’s persistence is seen in everything he does, which is why he’s been one of the top Real Estate Professionals in Hawaii for the past decade and has sold over $500 Million in Maui Real Estate. He has been recognized as one of Hawaii’s “Top 100 Realtors” ten times. Tom specializes in living the Maui lifestyle; he can direct you to the most lavish properties and the best locations, whether you’re searching for that unique oceanfront property or exclusive condominium community or a simple getaway. When you’re ready to buy in South Maui, give Tom Tezak a call. Whether you’re looking for oceanfront property, a second home, or a hidden gem, call a REALTOR® who can help you maximize your investment and knows the value of enjoying life by making every moment count.
Jordan Kamikawa, Lead Sales Agent Born and raised on Maui - Jordan Kamikawa has been fortunate in kick-starting his real estate career under the guidance of one of Maui’s premier agents. After graduating from Whitworth University in Spokane, Washington with a degree in Communications and moving back home to Maui, Jordan was offered the opportunity to learn Real Estate. Working for Tom Tezak: Broker/Owner of Wailea Realty in 2012, Jordan experienced handling marketing, transaction coordination, and social media and found a connection with helping others achieve their real estate goals. In 2015, Jordan took on the role of full-lead-sales agent for Tom Tezak. With Jordan’s behind the scenes experience, he quickly catapulted into being one of the top -producing Realtors on Maui.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
MEET OUR TEAM Michelle Rodriguez, Customer Care Liaison Michelle is the team’s Customer Care Liaison and ensures that each and every client is satisfied. Michelle grew up in Long Island, New York and moved to Maui after living in Orlando for seven years. She has a Bachelor’s degree in Hospitality and an extensive resume that will ensure our clients are guided through the Maui real estate process with care and ease. Additionally, Michelle manages a portion of the Team’s marketing, ensuring that your property is marketed to as many potential buyers and real estate agents as possible. Michelle will utilize direct mail marketing, newsletters, email blasts, and social media to gain maximum exposure on your listing. Outside of work, Michelle enjoys hiking, swimming and dancing.
Liza Pierce, Social Media Liza brings an extensive background in online marketing, social media management, blogging, and digital marketing strategy. She also has experience in project management, having helped a range of clients increase their operational efficiency. In her role as an interactive media strategist, Liza oversees the development and coordination of Lifestyle Maui's digital efforts, while maintaining the team's digital presence. A Maui resident since 1994, Liza has nearly 20 years of experience in the real estate industry, and as a result, she is intimately familiar with local market trends. In 2006, Liza launched A Maui Blog, which has been voted “Best Blog on Maui” by the readers of Maui Time for four consecutive years. Also, she is the founder of the Maui Bloggers Network, co-founder of Maui Social Media Users Group (MauiSMUG) and was named one of Hawai‘i’s Top Five Social Media Influencers in 2013.
Michele Gibson, Transaction Coordinator Michele is our transaction coordinator, and will upload files to an online management program, create a transaction timeline indicating contact information, dates, and deadlines, and communicate with clients, escrow, and other third parties.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
Joinfoursa NICKEL TOUR Oh, what is a “Nickel Tour “ you might ask? In our experience of selling real estate in Maui, most Buyers/Visitors are not sure which properties are which and what amenities they offer, what the prices are for the various complexes and neighborhoods, but most importantly, what feature would be the best fit for them. For most folks, price & location are important, but when you start your search here on Maui you very often begin by stumbling from open house to open house never quite knowing what you are walking into...whether you can afford it...whether it is a good or bad location...whether it is priced right...etc. Lastly, the worst part about that experience is that you are wasting precious vacation time searching (sometimes aimlessly) and not finding what you are looking for, instead of being on the beach, snorkeling, out golfing or whatever your Maui passion might be. If this sounds painfully familiar or like a situation you would like to avoid, then you will appreciate our “Nickel Tour.” We take hours of your vacation and give them back to you. By first interviewing you and identifying the properties that meet your needs, we then put a tour together to give you an overview of the properties that best fit your parameters. Because of our extensive amount of experience, we can provide you with the local knowledge that you can not get at open houses or on the internet. Plus, we save you hours of valuable vacation time by taking the guesswork out of your search. The “Nickel Tour” usually lasts 1 to 2 hours, and when we finish, we can usually narrow down your search to just a few complexes or neighborhoods. If this sounds interesting, feel free to give us a call, and we can make a plan to get you out for our famous “Nickel Tour.”
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
WHY CHOOSE LIFESTYLE MAUI REAL ESTATE TEAM We have an extensive amount of experience, with nearly 40 years between Tom and Jordan. We have the depth and understanding to anticipate, negotiate, and facilitate the smoothest transaction possible. Having a team provides you with support and multi-faceted skills that you may not get when using an individual agent. We work together as a unit and can rely on each other's skills and talents to make sure we are successful in achieving your goals. With this combined knowledge and skill set, we can help you through the process from the beginning stages of searching, all the way to closing day and beyond. We know what it takes to be successful in buying and selling real estate, in all areas of Maui with all the various types of real estate available. Searches includes vacation homes, second homes, rental properties, and full -time residential properties. This kind of knowledge is a result of almost 40 years of combined experience in the Maui market...we've pretty much seen and experienced it all!
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
QUESTIONS TO CONSIDER WHEN
BUYING YOUR MAUI PROPERTY It is essential that when starting your search, you understand what you are looking for in your Maui property. With the variety of options on Maui, here are some questions to think about:
Home vs. Condo
Vacation Rental vs. Residential
Is a gated community important to you?
Wailea, Kihei, or Makena? Does it matter?
The number of bedrooms you need vs. Number of bedrooms you wan
Location on island.
Sun, rain, breeze, etc.
The location proximity to essentials like Costco, Target, hospital, airport, etc.
Is an ocean view a must, a bonus, or not necessary?
What is more critical: a Bigger space or closer to the water?
Enough yard or big yard for privacy? But most importantly...what is your “WHY”?
As you read these, hopefully, it makes you think about what is most important and will help you with the decision process. Remember, it is our job to act as your advisors and help you work through this process smoothly, with the end result being your ability to pursue the Maui Lifestyle that you desire. The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
HOW WE HELP YOU BUY YOUR MAUI PROPERTY Helping you find and purchase a property on Maui is only one facet of our job. In addition, we will: Presale
Explain Maui real estate principles, contracts and documents.
Under Contract
Open escrow.
Provide you with a timeline which highlights all necessary contingencies to be completed before closing.
If you choose to finance, we will refer you to a reputable on-island lender that can help you assess your financial situation and pre-approve you for a loan. Help you determine the types of properties and neighborhoods that most fit your needs. (Read more about the Nickel Tour on Page 6)
Explain the differences between vacation renta- ble/long term rentable condos (see page 16).
Arrange tours of properties that meet your criteria or preview them on your behalf using video/Facetime if you are not on island.
Provide you with detailed information about the properties that meet your criteria.
Determine the fair market value of properties you're interested in.
Accompany you to the inspection or meet the inspector there if you are not on island. Help you navigate through home inspection contingency process (see page 13) Provide and review documents during the escrow period including condo association documents, seller's disclosure, inventory, survey, termite inspection, etc. Work with the escrow company to ensure all needed documents are in order and completed in a timely manner.
Coordinate final walk through.
Arrange key possession transfer.
Assist you in writing and negotiating an accept ed purchase contract.
If you are not on island, we will be here to accommodate your closing process.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
FINANCING VS. CASH FINANCING How much house can you afford? Determining how much you can afford and getting pre-approved before you begin your Maui property search will save you valuable time and ensure you are ready to move quickly on the right property when you find it.
Using a local lender: In our market, there are benefits to using a local lender, especially when it comes to financing vacation rentable properties. Loan officers based here on Maui know the ins and outs of funding on vacation rentable properties that not all mainland lenders know about or don't realize until they are already in the loan process. Unfortunately, we've experienced this first hand with some of our own deals and heard of others. Buyers use non-local lenders who are licensed in Hawaii and initially say they can loan on vacation rentable properties, only to find out 20-45 days into escrow that it's a lot more involved than they previously thought and their bank can't approve the loan. Those Buyers then have to either cancel the deal or switch lenders and restart the process. This is not always the case, but we recommend using a local lender who understands loaning on vacation rentable properties from the start, giving you the best chance to get to the finish line. Another benefit of using a local lender is that it can sometimes strengthen your offer in the eyes of the other agent/sellers. An offer with preapproval from a proven, well-known local lender can appear more substantial and beat out other offers with pre-approval from a mainland bank. (see Affiliate Page on the inside back cover for our Team's recommendations). *Although we recommend using a local lender - as our client, you can ultimately decide to use whoever you'd like to. It's our job to educate you on the intricacies of our local market, but we never make decisions for you. Escrow time frame
If you are purchasing via financing, we typically write 30-45 day contracts on residential homes/long term rentable condos, and 60 days for vacation rentable properties. However, this can vary depending on the lender you choose and the timeframe they give us.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
FINANCING VS. CASH CASH
Negotiation benefits If you can purchase your Maui property with cash, in many cases this can increase your negotiating power. Because the majority of offers in our market are financed offers, cash offers stand out because they eliminate the loan process (which removes a significant contingency from the transaction). As a cash buyer, you are still required to provide proof of funds, usually within three days of an accepted offer. Also, you may need to provide evidence of funds before viewing select properties.
Escrow time frame Because cash purchases avoid the loan process, escrow times can be made much shorter. We write cash offers with closings anywhere from 14 to 30 days from acceptance. This also can give you extra negotiating power by emphasizing a quick close if this would appeal to the seller.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
THOU SHALT NOT... When Financing your Maui Purchase
Thou Shalt Not...
Change jobs, become selfemployed, or quit your job. Buy a car, truck, motorcycle, or van. Use credit cards excessively (more than normal). Stop paying bills. Spend money you have set aside for closing.
Omit debts or liabilities from your loan application.
Buy furniture.
Apply for new credit cards.
Make large deposits without checking with your loan officer.
Change bank accounts.
Co-sign on a loan for anyone.
Change marital status. Each of these can jeopardize loan approval. If unsure, call your loan officer and ask before doing any of the above.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
WHAT TO EXPECT FROM
YOUR HOME INSPECTION Walking You Through Inspection Home inspections are a critical part of the buying process. A neutral third party handling your inspection can help to give an unbiased and professional look at all areas of the home. We will guide you through the Home Inspection process by:
Referring you to a reputable on island home inspector and other repair contractors if needed.
Scheduling the inspection for you and attending for your behalf if you are not on island.
Making sure the home inspection report is delivered to you promptly within the contingency period.
Reviewing the home inspection report results with you.
Negotiating fair and appropriate solutions if necessary.
Scheduling a final re-inspection walk-through before closing if desired. If there a pool/spa, and aseptic/cesspool, either of these would require an independent inspection as they are not covered in a general home inspection, and we will help you coordinate that.
Our goal throughout this contingency period is to make sure you are well informed and prepared to make the best decision in moving forward or canceling a deal if necessary. With the Lifestyle Maui Real Estate Team your best in-
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
WHAT TO EXPECT AT CLOSING
Final Walk through 3-4 days before closing
Utilities transferred into your name
Confirm that any negotiated repairs are completed
Arrange your final deposit
It Doesn’t End There... What happens after closing? Good question. It's important for us to share with you that the process and relationship are far from over after we close. If you are purchasing your primary residence/moving here to Maui, we can be a wealth of knowledge in terms of any vendors/services you may need post-closing. And as you know, we always love to share our non-real estate related knowledge and tips as well! Also, as a resort and second home agents, we know that your property away from home is significant to you...and it's really important to us, too! If you have an emergency, we will look into it and help in any way we can. If you need someone to work on the property, we are happy to give you our opinion or recommendations. We want you to know that it doesn't end at closing. We often say that closing is where all of our relationship and experience begin to come into play. We want to be your resource here on Maui today, tomorrow, next year, five years later and beyond. Please don't ever think that you can't reach out to us if you need a hand, have any questions, or want an excellent recommendation for a place to eat or a fun activity here on Maui. Helping you is what we do, and our way of spreading Aloha.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
MAUI MARKET STATISTICS On this page, we will show you relevant statistics broken down into specific configurations. You can type the links below into your search bar, or use a QR Code Scanner to scan the codes. The stats will show right up on your phone or laptop, and you'll be able to review the statistics for the past twelve months on Maui. The other good news about these statistics? They're LIVE links! You can visit the site today, and it will be accurate, return in six months, and it will have been updated and accurate for that point in time! If you have any questions, please feel free to contact us!
All Maui Stats
All Kihei Condos
All Kihei Homes
All Wailea Homes
URL: bit.ly/2sDasCa
URL: bit.ly/2sBwmWA
URL: bit.ly/2U6ED0A
URL: bit.ly/2R4osP7
All Wailea Condos URL: bit.ly/2sGSlLT
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
FREQUENTLY ASKED QUESTIONS Vacation rentable condos vs. Long-term rentable condos Vacation rentable condos are zoned to allow transient (nightly) rentals. These are the condos you can find on transient rental sites such as VRBO.com, Airbnb, etc. Long-term rentable condos are not zoned for transient rentals and typically only allow leases of 6 months or more if rented out. Price points, maintenance fees, and amenities can vary between these two types of condos - for more information on specific complexes, contact our Team!
What is included in the maintenance fees for condos? Most condo complex's maintenance fees cover water, sewer, trash, common area maintenance, exterior building maintenance, and hazard and risk insurance. Some condos also include items such as electricity, TV cable, and internet. If you want to know what a specific condo complex's maintenance fees cover, please contact us directly.
What's the difference between the different parts of the island? (South Maui, West Maui, Upcountry, Central Maui, etc.) Maui has many unique areas to explore, with varying types of real estate across the island. South Maui (Kihei, Wailea, Makena) and West Maui (Lahaina, Kaanapali, Kapalua, etc.) are where you'll find most vacation rentable properties, due to their beautiful beaches and resort areas. Within the South and West Maui areas there is also a mix of residential homes and condos with a wide range of pricing from entry level to luxury. Central Maui (Kahului, Wailuku) is where you'll find residential homes and condos. Some of the lowest priced residential homes and condos on Maui are in this area. There are also some new residential and commercial developments coming up in Central Maui as well. Upcountry (Makawao, Pukalani, Kula, etc.) features mostly residential homes at a higher elevation, offering cooler temperatures than other areas of Maui. East Maui (Haiku, Hana, etc.) features residential homes set in lush landscaping due to the higher amounts of rainfall in these areas. North Shore (Paia) offers mostly residential homes that have a broad range of pricing similar to South and West Maui. All this being said, we like to think that all parts of Maui are merely variations of perfection. For more information or a list of properties in a specific area, reach out to us, and we can tailor a search for you.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
FREQUENTLY ASKED QUESTIONS What's the value of a view in Maui Real Estate? Views play a significant role in value in our market here - especially ocean views. Ocean views can add anywhere from $25-$50K to, in some cases millions of dollars to a property's value depending on the location, price point, and amount of ocean view the home or condo has. For example, our Team Leader Tom sold two units within a complex that had the same floor plan - one had more upgrades, but didn't have an ocean view and sold at $630K; the other was not as upgraded, but had a beautiful ocean view and sold for over $900K. Thus, ocean view accounted for around a $300K price difference in this case! So yes, ocean view can add quite a bit of value to a property and should be taken into consideration whether buying or selling. There are also areas that feature beautiful West Maui Mountain and/or Haleakala views, which shouldn't be overlooked and can add value as well. In addition, some properties Upcountry (Makawao, Pukalani, Kula) feature beautiful panoramic island and ocean views because of the higher elevation. If you are looking for a particular type of view, let us know, and we can point you in the right direction!
What rents better: a one or two bedroom condo? We often hear the misconception, "I want to buy a two-bedroom condo because it will rent better." Although in mainland markets this may be the case, here on Maui one bedroom units rent as well as two bedroom units. With one bedroom units, you get all the renters specifically looking for a one bedroom (singles, couples), AND you also can get overflow from families/guests that want to save some money and put their kids/extra guests on the sleeper sofa or Murphy bed (which most one bedroom vacation rentable units have). Thus, occupancy rates tend to be a bit higher overall for one bedroom units as opposed to two bedroom units and can generate more revenue as a whole. Of course, there are exceptions to this, and if you need a two bedroom for your use, then that's what you should be searching for. However, if you are excluding one-bedroom units for your search because you think they won't rent as well as two bedroom units, you may be missing opportunities to get more bang for your buck.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
CLIENT TESTIMONIALS Stumbling upon Jordan was a miracle for us. We found him showing a vacation rental we thought we wanted to purchase. After a brief conversation it was apprent to Jordan that this was not the property for us. Instea of pushing his listing on us, he directed us to our dream property. Closing on a home 3,000 miles away is challenging at best. Jordan was there for us every step of the way, from the initial sales paperwork to the final closing inspection, constantly keeping us updated by phone, text, and pictures! Finding a sales profession who keeps his clients’ interests above his own is very rare, and Jordan is that guy! ________ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ___ ________ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ___ ________ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ___ ________ ______ ______ ______ ______
I have been a broker for 35 years and was glad to find someone as knowledgeable and helpful as Tom was. He always answered my questions and showed us homes on a moments notice. We looked at a number of homes that were not quite right and Tom kept looking. A new listing came on the market and he contacted us immediately. We were one of the first people to see the new listing and it was exactly what we were looking for. We now own a condo on Maui. Not only was Tom extremely helpful in our home search but he also helped us in our need to rent the condo when we left the island. His assistant Angela was equally helpful in making the transaction go as smoothly as possible. ________ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ___ ________ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ___ ________ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ___ ________ ______ ______ ______ ______ _
We are very pleased again to have Tom's experience and counsel with the purchase of our second property about 10 years after the first. Our overall buying and closing experience with Tom and his team was very positive. Tom demonstrated a very strong grasp of the offerings' desirability, market conditions, and more importantly, he presented the information in a rather objective manner. Just hours after our reconnect meeting in his office, we met him again to view, in an unhurried manner, the first set of candidate properties. Tom's judgment and opinion were credible. His comparative evaluations of the properties were fair and without any extra "spin" or hype. He led the final negotiations skillfully. Twice, he was able to get the negotiations back on-track when they seemed to be going nowhere. He and his staff helped us buy our dream home. We have no hesitation in recommending him and his company. ________ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ___ ________ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ___ ________ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ___ ________ ______ ______ ______ ______ _
Jordan assisted us in finding our dream condo in Kapalua. He was an amazing resource on properties and features and went out of his way to get us a fair deal on our condo. Jordan also went the extra mile to help us make our move into the condo by helping to deliver some items we shipped him from Amazon. He was responsive to all emails and calls and looked up a ton of information for us. His research included revenues on rental properties, fees, taxes, and association fees. I would highly recommend Jordan to anyone planning on buying a property in Hawaii as he made our experience wonderful.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
MAUI TAX RATES Effective July 1 2020
Classification
Tax Rates (per $1,000)
Owner Occupied - Tier 1: up to $800,000*
$2.51
Owner Occupied - Tier 2: $800,001 to $1,500,000*
$2.56
Owner Occupied - Tier 3: more than $1,500,000*
$2.61
Non-Owner Occupied - Tier 1: up to $800,000*
$5.45
Non-Owner Occupied - Tier 2: $800,001 to $1,500,000* $6.05 Non-Owner Occupied - Tier 3: more than $1,500,000*
$6.90
Apartment
$5.55
Commercial - Tier 1, 2, 3
$6.29
Industrial
$7.20
Agricultural
$5.94
Conservation
$6.43
Hotel & Resort
$10.70
Timeshare
$14.40
Short-Term Rental - Tier 1, 2, 3
$11.08
Commercialized Residential
$4.40
*Property valuation as assessed by the County of Maui Important Dates: December 31: Deadline for filing exemption claims and ownership documents which affect the tax year October 20: First half year tax payments due February 20: Second half year tax payments due
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
PURCHASE & SALE PURCHASE AND SALE AGREEMENT
Once we have found a buyer for your home, I will work with you through the purchase and sale agreement. This is the contract in which you and the buyer outline the details of your property transfer. The purchase and sale agreement usually consists of the following:
Earnest money receipts
Financing addendum
Inspection addendum
Conditions/disclosure addendum
Contingency addendum, when appropriate
Addendum outlining special conditions
Lead-based paint notification, when appropriate
Agency disclosure form
Property disclosure form
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
HOME INSPECTIONS THE SECOND NEGOTIATION Once a buyer has decided to make an offer on your home, it will usually be contingent upon a professional inspection of the entire property— including improvements. The home inspector looks beyond the cosmetics to make sure that the home’s general systems operate properly. The inspector will also look for large repairs that are needed and report on the condition of the home. The standard home inspector's report will review the conditions of the home’s heating and cooling systems; interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; foundation, basement and visible structure. The inspector will also look for cracks in cement walls, water stains that indicate leakage, and any indication of wood rot. A home inspection also points out the positive aspects of a home, as well as the maintenance that will be necessary to keep it in good shape. Remember, no home is perfect. If major problems are found, I will help you negotiate through the process.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
SETTLEMENT & CLOSING During the negotiation stage of the transaction, a mutually agreed-upon date for closing is determined. “Closing” is when you and the buyer sign all the paperwork and pay your share of the settlement fees, and the documents are recorded. Prior to closing, the agent will complete a detailed settlement statement for both buyer and seller. As your agent, I can help you understand which of the following typical statement fees apply to you.
THE SELLER RECEIVES: Utility deposits held by gas, electric, cable, telephone, and other companies Prorated portion of pre-paid property taxes Prorated mortgage interest from payments made during the current month Fuel rebate for oil or propane remaining in storage tank Net proceeds after seller’s share of expenses is paid
THE SELLER PAYS: Brokerage commission (the sum or percentage of the sale price previously agreed upon by the seller and real estate agent) One-half of escrows paid to the escrow company for preparing the closing Document preparation fees, if applicable Recording and notary fees, if applicable Title search and title insurance, typically 60% by seller, 40% by buyer in Hawaii Local conveyance taxes State taxes, general excise tax (sales tax) on commission amount: 4.17% Repairs or inspections, if any seller has agreed to pay for HARPTA/FIRPTA for non-Hawaii residents and foreign nationals
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
AFFILIATE TEAM The Lifestyle Maui Real Estate Team is hardworking, but we'll admit, we can't do it all on our own. We need a full team! In addition to our marketing and coordination teams, and even our sales team with Tom and Jordan, we still need the right people helping us in the background! LENDERS Dan Bardenhagen, Wells Fargo Eric Miyajima, American Savings Bank Keli Pali Creative Financial Rebecca Ross, Elite Lending Brady Spangler, Guaranteed Rate
(808) 280-6168 (808)280-6444 (808) 891-9292 (808) 891-2005 (808) 339-3921
HOME INSPECTORS Beau Petrone, ASM Home Inspectors (808) 870-0593 Chris Hamman , Hawaii Home Inspections (808) 879-6000 Nathan Liles , All Valley Home Inspections (808) 866-8367 TERMITE INSPECTORS Bowman (808) 244-0296 Mid Pacific Pest Control (808) 875-2888 Bugman (808) 871-1283 INSURANCE AGENTS Ivy Costa , Mutual Underwriters (808) 853-7760 Kit Okazaki , State Farm (808) 242-8440 Mark Zion, State Farm (808) 793-3203 SURVEYORS Akamai Land Surveyors Newcomer-Lee Land Surveyors Valley Isle Survey
(808) 876-0177 (808) 244-8889 (808) 874-6066
ATTORNEYS Tom Cole Tom Welch Paul Mancini ESCROW Fidelity National Title Title Guarantee Old Republic Title
(808) 242-6854 (808)871-8351 (808) 871-8351 COMPANIES (808) 893-0556 (808) 879-155 (808) 875-9110
NOTE: if you are not completely satisfied with the services these vendors provide, please let us know. We would like to help address your concern and assure your satisfaction and if necessary remove them from my recommended Lifestyle Maui Real Estate Team List.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
MOVING TIPS MOVING DAY: OLD HOME Pick up the truck as early as possible if you are moving yourself. Make a list of every item and box loaded on the truck Let the mover know how to reach you Double-check closets, cupboards, attic, basement and garage for any left behind items
MOVING DAY: NEW HOME Be on hand at the new home to answer questions and give instructions to the mover Check off boxes and items as they come off the truck Install new locks Confirm that the utilities have been turned on and are ready for use Unpack your “first day” box (see list for suggested contents) Unpack children’s toys and find a safe place for them to play
MOVING ESSENTIALS: Furniture pads, hand truck or dolly, packing tape, bubble wrap, newspapers or packing paper, scissors, utility knife, labels, felt-tip markers, cornstarch packing peanuts, plenty of boxes. FIRST DAY ESSENTIALS: Scissors, utility knife, local phone book, coffee cups, teakettle, instant coffee or tea, pencil and paper, soap, bath towels, trash bags, shelf liner, paper plates, snacks, toilet paper, children’s toys
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
MOVING TIPS SIX TO EIGHT WEEKS BEFORE:
TWO TO FOUR WEEKS BEFORE:
TWO OR THREE DAYS PRIOR:
Use up to things that may be difficult to move, such as frozen food
If you’re moving to a new community, contact the Chamber of Commerce and school district and request information about services
Defrost your refrigerator and freezer
Get estimates from professional movers or from truck rental companies if you re moving yourself Once you’ve selected a mover, discuss insurance, packing, loading and delivery, and the claims procedure Record serial numbers on electronic equipment, take photos (or video) of all of your belongings and create an inventory list Change your utilities including phone, power and water, from your old address to your new address Obtain a change of address packet from post office and send to creditors, magazine subscription offices, and catalog vendors Discuss tax-deductible moving expenses with your accountant and begin keeping accurate records.
Make reservations with airlines, hotels and car rental agencies if needed If you are moving yourself, use your inventory list to determine how many boxes you will need Begin packing nonessential items Arrange for storage, if needed If you have items you don’t want to pack and move, hold a yard sale Get a license, registration and insurance in order
Have movers pack your belongings Label each box with the contents and room where you want it to be delivered Arrange to have payment ready for the moving company Set aside legal documents and valuables that you do not want packed Pack clothing and toiletries, along with extra clothes in case the moving company is delayed Give your travel itinerary to a close friend or relative so they can reach you as needed
Transfer your ban accounts to new branch location. Cancel any direct deposit or automatic payments from your accounts if changing banks Make special arrangements to move pets, and consult your veterinarian about ways to make travel comfortable for them Have your car checked and serviced for the trip Collect items from safe-deposit box if changing banks
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
GLOSSARY Interest rates on this type of mortgage are periodically adjusted up or down depending on a specified financial index ADJUSTABLE-RATE MORTGAGE (ARM):
AMORITAZATION:
A method of equalizing the monthly mortgage payments over the life of the loan, even though the proportion of principal to interest changes over time. In the early part of the loan, the principal repayment is very low, while the interest payment is very high. At the end of the loan, the relationship is reversed ANNUAL PERCENTAGE RATE:
The actual finance charge for a loan, including points and fee, in addition to the started
interest rate APPRAISAL:
As expert opinion of the value of worth of a property
The value placed on a property by a municipality for the purposes of levying taxes. It may differ widely from appraised or market value ASSESSED VALUE:
BALLOON PAYMENT: CAP:
A large principal payment due all at once at the end of some loan terms
A limit on how much the interest rate can change in an adjustable-rate mortgage
CERTIFICATE OF TITLE: CLOSING:
A document, signed by a title examiner, stating that a seller has insurable title to the property
The deed to a property is legally transferred from seller to buyer, and documents are recorded
COMMISSION:
A fee (usually a percentage of the total transaction) paid to an agent or broker for services performed
A survey of the attributes and selling prices of comparable homes on the market or recently sold; used to help determine a correct pricing strategy for a seller’s property COMPARATIVE MARKET ANALYSIS:
CONTINGENCY:
A condition in a contract that must be met or the contract to be binding
A binding legal agreement between two or more parties that outlines that conditions for the exchange of value (for example: money exchanged for title to property) CONTRACT:
DEED:
A legal document that formally conveys ownership of a property from seller to buyer
DOWN PAYMENT:
A percentage of the purchase price that the buyer must pay in cash and may not borrow from the
lender The value of the property actually owned by the homeowner: purchase price, plus appreciation, plus improvements, less mortgages and liens EQUITY:
ESCROW:
A fun of account held by a third-pary custodian until conditions of a contract are met
Interest rates on this type of mortgage remain the same of the life of the loan. Compare to “adjustable-rate mortgage” FIXED RATE MORTGAGE:
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
GLOSSARY A recognizable entity (such as a kitchen cabinet, drape, or light fixture) that is permanently attached to a property and belongs to the property when it is sold FIXTURE:
HAZARD INSURANCE: INTEREST: LIEN:
Compensates for property damage from specified hazards such as fire and wind
The cost of borrowing money, usually expressed as a percentage rate
A security claim on a property until a debt is satisfied
An agreement whereby an owner engages a real estate company for a specified period of a time to sell a property, for which, upon the sale, the agent receives a commission LISTING CONTRACT:
MARKET PRICE:
The actual price at which a property sold
MARKET VAUE:
The price that is established by present economic conditions, locations, and general trends
MORTGAGE:
Security claim by a lender against a property until the debt is paid
MULTIPLE LISTING SERVICE (MLS): ORIGINATION FEE: PITI:
A system that provides to its members detailed information about properties for sale
An application fee(s) for processing a proposed mortgage loan
Principal, interest, taxes and insurance, forming the basis for monthly mortgage payments
POINT:
One percent of the loan principal. It’s charged in addition ti interest and fees.
PREPAYMENT PENALTY: PRINCIPAL: PRORATE:
A fee paid by a borrower who pays off the loan before it is due
One of the parties to a contract; or the amount of money borrowed, for which interest is charged
Divide or assess proportionately
PURCHASE & SALES AGGREMENT: SETTLEMENT: TITLE:
A contract between buyer and seller that outlines the details of the property transfer
All financial transactions required to make the contract final
A document that indicates ownership of a specific property
Detailed examination of the entire document history of a property title to make sure there are no legal encumbrances TITLE SEARCH:
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
GIVING BACK The Lifestyle Maui Real Estate Team understands the importance of giving back to the community. As part of the Windermere family, we donate a portion of our commission from every transaction to benefit the Windermere Foundation. Since 1989, the Windermere Foundation has collected and contributed over $33 million to non-profit agencies dedicated to helping homeless and low-income families in our community. We also participate in Windermere's Community Service Day. Every year since 1984, Windermere agents dedicate a day of work to those in need. These hands-on projects benefit a wide variety of community-based organizations. Most recently, we volunteered at the Kihei Youth Center for a facility clean up, and with the Pacific Whale Foundation for a beach clean up at Kahului Harbor. In 2017, the Lifestyle Maui spearheaded the organization of the Maui Monopoly Tournament, which raised over $20,000 to benefit Habitat for Humanity and the Maui Food Bank. During the 2018 Holiday Season, the Team organized a successful Toy Drive to help the Ka Hale a Ke Ola Homeless Resource Center. These are just the start of Lifestyle Maui Real Estate’s philanthropic efforts, and we will continue to work to contribute to our local and global communities
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
ALREADY AN OWNER? Thinking of selling? Here’s how we can help you! Professional photo shoot: 30 pictures in MLS + more that we add to sites like Zillow, Trulia, Realtor.com etc. that impressively showcases your property to potential buyers. Professionally filmed/edited video tour: Gives a beautiful tour of your home (helpful for people searching out of State), and incorporates “lifestyle” clips as well—beach shots, golf, shopping, etc. all within your property’s area. May also include drone shots for appropriate properties, which highlights your property from above. This video tour will be uploaded to MLS, Youtube, and Vimeo to maximize exposure. MLS syndication: Through our MLS system your listing will be sent to over 70 Websites. Our team has a very strong internet presence and often show up at the top of searches on Zillow, Trulia, Realtor.com, etc. Windermere Real Estate networking: As part of the Windermere family, your property will be put on Windermere’s Website and will be featured as both a Premier Property (listings over $1M) and a Destination Property within their network. Windermere has over 350 offices and 6,000 agents throughout the US. Luxuryrealestate.com: Your property will be featured on Luxury Real Estate’s Website, which features a huge network of luxury agents/clients in the $1M+ price range. Wailea Realty Corp. benefits: Our Wailea office in the Shops at Wailea has 9 TV screens which display all of our brokerage’s listings out on a busy walkway which hundreds of people walk by daily. Our office will feature a flier of your property that will be on display along with our other listings. In addition, we have a Kihei office in Rainbow Mall where your listing will be showcased as well. Your property will also be on WaileaRealty.com, TomTezak.com, mauipropertiesonline.com. Social Media: Wailea Realty Corp. has a full-time social media coordinator, Liza Pierce, who will market your listing on social media platforms such as Facebook, Instagram, etc. She has over 120K followers between two Facebook pages. Our team also spends extra money to use Facebook ads, which has become one of the most lucrative ways to market on the Internet. With Facebook ads you can target consumers by age, demographic, location, buying habits, income, etc. in order to target your property to the appropriate audience. *Be everywhere is the goal! Some agents take a listing, put it on MLS, and call it a day...On the other hand, we want your listing to have the most exposure possible to have the best chance for success! Our track record proves it: We’ve sold $30M a year for the past several years.
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
NOTES ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________ ____________________________________________
The Shops at Wailea, 3750 Wailea Alanui B-16, Wailea, Maui, Hawaii, 96753
OTHER AVAILABLE LISTINGS
CONNECT ONLINE! LifestyleMauiRealEstate.com Facebook.com/LifestyleMauiRealEstate LinkedIn: www.linkedin.com/in/mauirealestateagent Instagram: @Lifestyle_Maui @Tom_Tezak_Maui_Realtor @JordanKamikwa_MauiRealEstate Youtube.com/LifestyleMaui
Be sure to check out our video series, Condos, Castles, & Cottages! on YouTube, where we explore neighborhoods on Maui!
Scan To Watch