How Will the Next Recession Affect the Housing Market…
Given the current media buzz of an impending recession, many Americans are fearing the worst and believe a downturn in the real estate market is inevitable. Take a look at the graph below from Keeping Current Matters.
It’s important to note that of the last five recessions in U.S. history, three of them saw increases. Two of those three saw prices appreciate faster than the historical average, and the massive down turn was as a result of loose ethics and loan practices.
What Exactly is a Recession…
According to Websters Dictionary, a recession means a time where the economy dips for a period of 6 months. Considering that we’re in the longest running economic recovery, it’s no surprise that we’re in for a breather. The Maui marketplace is still robust and active with consistent visitors looking to scoop up great properties and the inventory is low – so it’s still busy and still fast paced for those looking to buy.
How Will Maui Be Affected?…
Saying anything is recession-proof is a tough statement to make, but any time you have scarcity in a market, whatever the market is, it sets up your investment for success. Purchasing in a location with limited supply is key to making sure your vacation home investment doesn’t depreciate dramatically in a recession. The rental income opportunity can also provide some insulation from market downturns, and there are other factors, too, that help make certain types of vacation homes less risky investments. Check out the most recent short term rentals in Wailea here.
For the best locations in Hawaii, like the Maui beachfront, the dip in property values at the last turn was only 10% to 12%, the reason being the barrier to entry—the ability to get anything built—is unbelievably tough. It isn’t overbuilt, and people recognized the value here. Selecting the location of your vacation home wisely may not protect you entirely from seeing a drop in value during a recession, but it could mean that the decrease you see is much smaller than it would be elsewhere. Also consider whether a second home will be a long-term investment, and perhaps even someday become your primary residence or legacy. Our listings at Mahana Estates are legacy homes where families are seeing their dreams built before their eyes. I encourage you to reach out and ask questions on how we can paint this picture for you.
Places like Hawaii, Cancun and Mallorca don’t go through seasonal ups and downs. There are low and high seasons, but people are always visiting. People buy a second home and eventually envision living there, so in that sense it’s recession proof. Even in a recession, there are people that still have money, and they’re looking for very specific types of houses, and are very location-driven. As we approach winter, we expect more inventory to come one as usual and we look forward to seeing our friends who return year after year. If you’re curious about a Maui investment, reach out, let’s get your toes in the sand. Aloha!
Understanding Wailea Golf Club Membership can be tricky. As projects were developed and plans were originally being set into place, different programs were approached and devised with the Wailea Community Association. Those qualifying for Wailea Golf Membership have no particular rhyme or reason why, it just “is what it is”. Read below for a clarification on which properties qualify for Wailea Golf Membership or Owner Rates.
WAILEA PROPERTIES THAT QUALIFY FOR GOLF MEMBERSHIP:
Ekahi | Ekolu | Elua | Grand Champions Villas | Wailea Kai | Wailea Kialoa | The Palms at Wailea | Wailea Point | Wailea Fairway Estates | Wailea Golf Estates | Wailea Golf Vistas | Wailea Highlands
NOT ELIGIBLE FOR MEMBERSHIP, BUT QUALIFY FOR PROPERTY OWNER RATE:
Fairway Villas | Hoolei at The Grand Wailea | Papali Wailea | Wailea Pualani Estates
NOT ELIGIBLE FOR MEMBERSHIP OR PROPERTY OWNER RATE
Maluhia | Wailea Beach Villas | Kai Malu | Kanani Wailea
Check out these links for more information and applications on Wailea Golf Membership and benefits. For more details and to schedule a tee time, contact Wailea Golf at 808-875-7450.
The Gold Course – Referred to as ‘ the thinking mans course”, this one is tougher requiring a more strategic approach. and less scenic than its neighboring comrades. At 7,078-yards and created by Robert Trent Jones Jr. this course received accolades from Golf Digest, Golf Magazine, Conde Naste Traveler – just to name a few. Strategy and finesse are important to playing the Gold well, and the course’s intriguing risk-reward choices makes it possible to use every club in your bag.This par-3 beauty has golfers teeing off toward an unbeatable view of the ocean and little Molokini, a crescent shaped islet and one of Maui’s most popular snorkeling spots. Check out more details on the Wailea Gold Golf Course
The Emerald Course – At 6.825 yards, the Emerald Golf Course is the Wailea Blue courses immediate neighbor to the South. Enjoy picturesque over-the-top views for as far as the eye can see. Carpet like fairways, tropical foliage and the fresh breezes ofHawaiian air. This course is known to be ideal for the recreational golfer, rather than the one vying for exact precision and difficulty. Golf for WomenMagazine has coined the Wailea Golf Club a Top Fairways Award for the country’s most women-friendly golf clubs, an honor that has been acknowledged seven times. With 4 to 6 per boxes on every hole, this course is no cakewalk and still geared to cater to any skill level. Comments say that this course is “Challenging enough, certainly not punishing”. More details on the Wailea Emerald Golf Course
The Blue Course is newly serving guests form the pro shop and its brand new location on Wailea Ike – adjacent Manoli’s Pizza Company – which is, by the way… the perfect place for the 19th hole. Meander through the relaxing fairways with outer-island views at the base of the 10,000 ft. dormant volcano, Mt. Haleakala. Lovely tropical florals, a coral lake and classic coral sand bunkers slice up a game of strategy and competition for an avid golfer. Lower winds than other courses on a good day, with scenic views from every holeThis Championship Course is Wailea and South Maui’s perennial favorite and probably the most popular. Check out the map of the Wailea Blue Golf Course
Clinics, tournaments, executive and corporate and fun and family play are always available.
This master planned 1500 acre Resort was thoughtfully designed for both full-time living and vacationers wanting a luxury lifestyle. Whether you are a first-time buyer seeking a popular vacation rental investment, or wanting to purchase your quiet Maui retreat home, Wailea is a terrific place to park your money and watch it grow. With so much growth on Maui, it’s time for you to be a part of it. Maui county was recently named one of the best places to own a home in Hawaii as posted by MauiNow.com
If you’re considering an investment in the Hawaiian Islands, reach out. Let’s get your toes in the sand.
With aloha, Erica