Maui 1031 Tax Exchange and Income Opportunity

Are you interested in finding some solid income property in a stellar location? On Maui, with our limited inventory places like this 6-Plex that just listed are a terrific opportunity in the right LOCATION.  With people being encouraged to work remotely and less need to be near major job markets dwindling, it’s got more people than you might think with their eyes on Hawaii.  Maui gets a lot of love for it’s less crowded, more relaxed vibe than Oahu… Especially from our major feeder markets like LA, Seattle, and Oregon… Not to mention our Canadian neighbors.

Income units on South Maui are literally non-existent and this is the only of it’s kinda the time of list  –  worth looking into and sharing.

A terrific opportunity for someone looking for a 1031 Tax Exchange.

Maui Income Property

Maui Income Property located 3 blocks from Charley Young Beach.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Maui Palms Townhomes is boutique complex 3 blocks from sandy beaches and activities right in the heart of South Maui.  Just a quick stroll across the street the awesome swimming beaches for morning exercise and nightly sunsets. Easily accessible to many businesses for employment, as well as dining options and grocery for living conveniences.  Five-minutes (unless it’s high season and there’s traffic : )  from the world-class Wailea Resort with access to luxury hotels and amenities, world-class shopping, fine-dining restaurants, and golf.  For these reasons, this building garners premium rents and a high desirability year after year.

6 total units:

  • 5 units are 2 bedrooms, 1.5 bathrooms  939 sq. ft.
  • 1 unit is 2 bedroom, 2.5 bathrooms
  • Updates include new counters, flooring, and paint – varying throughout each unit
  • A well-maintained building shows pride of ownership
  • Onsite parking and a new roof.

JUST LISTED AT $2,560,200.

These are long term rentals in a highly desirable location in South Maui and consistently able to earn maximum income. Currently listed by Dano Sayles, Remax Lifestyle, and owned by a local family who purchased it back in 2005. All units are on month-to-month rental agreements. View Matterport tour for a more in-depth look at the units and their condition.

Check out what wonderful things Trip Advisor has to say about Charley Young’s Beach Park.

Charley Youngs Beach

An afternoon at Charley Young’s Beach, Maui Hawaii.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The real estate market on Maui has slowed down in volume since COVID19, but we are still over last year for median home prices.

 

Maui’s Real Estate Statistics – June 2020

 

 

 

 

 

 

 

Take a look at some recent Maui Real Estate Statistics.

Working remotely is strongly encouraged, and the new state of the world has people curious about shifting closer to more relaxed, less crowded places for the long term. Maui and the limited inventory along with the global interest have our island a solid investment for years to come.

If you’re looking for a solid investment, reach out… Let’s get your toes in the sand.

Aloha, Erica Haleakala – Wailea Realty + Windermere Maui.  – 808-281-4107

Erica Haleakala Maui Realtor

Erica Haleakala Maui Realtor

 

Posted on August 4, 2020 at 10:51 pm
Erica Haleakala | Category: Maui, Maui Economics, Maui Investment | Tagged , , , , ,

New Construction in Wailea – Lai Loa at Wailea

As the rest of the world holds on pause to see what happens next, La’i Loa at Wailea, Wailea’s newest product has been introduced to South Maui. Although the current state of the market and has some concerned about uncertainties, this development has been long awaited and warmly welcomed by a captive audience.  Bordered by Kai Malu at Wailea, the Wailea Blue Golf Course, a 13 acre natural reserve and Wailea Alanui Drive as shown on the map below.

Many of you have asked over the years to be kept apprised when something new comest to South Maui… 4 weeks from launch and they’re already 25% under contract.

 

Rendering of future Lai’loa Site bordering Wailea Alanui Drive.

 

The final 125-acres of residential living in Wailea was purchased by the developer, Ledcor from from A & B in early 2019.  An upcoming 7 complex family of homes, Wailea Hills is on the last portion of what’s to be built in Wailea with walking paths, beach and restaurant access and a community vibe. It’ll take years before full completion, but we kick it off with Lai’loa at Wailea, 15 buildings with 75 units on 13 gorgeous acres of South Maui.  The buildings in Lai Loa, located off Kai Malu Drive, and bordering Wailea Alanui Dr. will be oriented along the elevation to maximize the ocean views for the single-level two- and three-bedroom units and four-bedroom penthouses. Think big ocean, outer-island and golf course views – especially from the highly coveted Penthouse units, which are starting at $3.495m.

Wailea Hills Site Map

Future Wailea Hills Site Rendering

 

All views will face Northwest, with home prices starting at $1.5 million. and ranging into the upper $3m for larger footprint Penthouse units.  I had the pleasure of attending a recent virtual tour. With the new ages of technology, they are able to depict excellent renderings of what’s to come. The best thing about these units are the size of the footprints. Larger than at Kai Malu or Keala o Wailea and really unlike anything else currently in Wailea.  They also all have parking garages and ample storage for kayaks and stand-ups. All units will look straight out to the ocean, with the panoramic being the most substantial of them all.


Spacious floor plans

  •  2 bedroom, 2 bath   $1.495                  1,374 inside +  312 sq.ft. covered lanai = 1,686 total sq. ft.
  •  3 bedroom, 3 bath   $2.050                 1,743 inside +  424 sq.ft. covered lanai = 2,166 total sq. ft.              Sits 40ft above the road

 

 


Penthouse

  • 4 bedroom 3.5 bath $3.495m               2,587 inside + large 778 sq.ft. covered lanai = 3365 sq. ft. total         Sits 55ft above road

All residences include designer custom finishes. There are no upgrades, they are all top notch. Sleek finishes include: disappearing glass sliders, wooden entry door w/ glass side light, LED lights in all rooms, plush carpets in the bedrooms. Grasscloth finishes, subway tile in the kitchen, double ovens, Hans Grohe appliances and toto toilets. To be explained as classic and sophisticated with a contemporary, modern and neutral color palette. Keeping it comfortable and practical… every unit has wide / deep lanais and a barbecue that vents to the outside.

 

Lailoa Penthouse view rendering

 

Lailoa living view rendering

 

Leila kitchen rendering

 

Seattle-based architecture firm Weinstein A+U brought the vision to paper and world-renowned, Honolulu-based Philpotts Interiors are leading the design team for the project. Ledcors portfolio  also includes development of the Luana Garden Villas at the Honua Kai Resort & Spa near Kaanapali on the west side of Maui. If you’ve ever been to Honua Kai invest Maui, you’ve been introduced to the luxe product that these visionaries are known for.  It’ll be fun to see the same realized on our side of town and we are excited to bring you this special opportunity.

 

Photos and layout plans courtesy of Wailea Hills, via their brochure

The amenity center sits against a 3-acre natural reserve parcel. A hot tub, infinity pool, gym, pool with expansive deck, and cascading lawns for bocce ball or sunset picnics. A well thought out plan promoting gathering and community and it has nothing impacting your view.

 


 

Photos and site plans courtesy of Wailea Hills, via their brochure. Listed by Polaris Pacific Properties. 

Projections forthcoming for a larger-scale community center for the Wailea Hills project – 7 communities as a whole to enjoy.  This will be near the upcoming Clubhouse which will be a big benefit.

This is the first project of 7 that will complete the Wailea Resort. It’s smart to consider “getting in” early. You saw what happened with initial investors at Keala o Wailea. Don’t WAIT. Virtual tours are available and reservations are being accepted now.

What’s required to reserve?

  1. 5% 1st deposit, due at contract signing
  2. Contract goes binding 30 days from acceptance.
  3. 10% 2nd deposit,  due November 2020.
  4. 85% to be brought in at close via cash or loan.

Once 65% of the units are binding the developer will break ground with completion projected at the end of 2023, although that is not definitive. 

The first phase has almost sold out and more are expected to release soon.

Check out this latest video from our Chief Economist Matthew Gardner on New Home Construction.

Curious about New Construction? It’s an even better opportunity in a place with limited supply.

Reach out… Let’s get your toes in the sand.

With aloha, Erica

 

 

Posted on April 29, 2020 at 10:46 pm
Erica Haleakala | Category: Maui, Maui Development, Maui Economics, Maui Investment, Maui Real Estate Reports, New Construction | Tagged , , , , , , , ,

Moving Your Pets to Hawaii

 

When relocating to Maui, all we can think of is warm days with our families and friends. Up until a short time ago, transporting our loving animals has been almost impossible. Seemingly torturous to hold them in a small cell for an extended period of time. To most owners – not worth the stress that in some horror cases is irrecoverable.

The times have changed…  The days of locking up our furry friends in quarantine to bring them over to the islands is long gone!  All the is necessary is the correct documentation and proper planning!

Start by signing UP!   Contact Kelly, the direct release coordinator with Central Maui Animal Clinic at: kellydirectreleasemaui@gmail.com – 808-446-1521.

Kelly is amazing and will be your liaison in getting things prepared. She will help you do be sure you have the correct documentation, and is the first one to meet your furry dog or cat when they arrive on Maui.  If your pet is with you on the cabin, Kelly is waiting on the jetway to receive you and your family. They’ll take them for a walk to stretch out as they wait for your family to deplane and/or arrive to the designated location.

Have the correct DOCUMENTATION!   Have your photo ID and the state permit and health certificate ready and they’ll have you on your way quickly. There’s a pee pee spot at the airport and they’re animal lovers, so you can feel assured they’re in great hands.

The new requirement is 30 days of a minimum waiting period after a successful FAVN rabies antibodies test before arriving in Hawaii. 

The Main Requirements of the Program:

1.    The Fees for direct release are at $185.00 – $244 if you want them released in 5 days or less.

2.    Be sure your furry friend has a MICROCHIP

3.    Get in touch with Central Maui Animal Clinic to help you plan, then have the FAVN blood test done with the correct timing of your travel plans (30 days)

More information can be found via the State Website here

Check out the following Checklist for Import of Pets to Hawaii is below, or printable Checklist for Pets to Hawaii 



Owners must submit the following documentation so it is received by the Animal Quarantine Station 30 days or more ahead of the planned date of arrival:

  1. Completed and signed Dog & Cat Import Form (AQS-279). (Does NOT have to be notarized.)
  2. Original rabies vaccine certificates for the 2 most recent vaccinations.
  1. Payment of $165 by cashier’s check or money order.
  2. Flight information (i.e. Airlines, flight number, date and time of arrival).
  3. Check “Neighbor Island Inspection Permit $165” on the program applying for section of the Dog and Cat Import Form AQS-279.

The team at Central Maui Animal Clinic have made some awesome moves for our island over the past decade. They’ve expanded their staff and business hours to accommodate 24 hour emergency help. They’ve also opened Lahaina and South Maui Locations. Rely on them to help you through the process, then reward them by giving them your on-island business.

Looking forward to seeing you and your families back on the island.

If you’re curious about Maui real estate, reach out! Let’s get your toes in the sand.

Aloha, Erica Haleakala             text + call + email     808-281-4107

Wailea Realty Corp + Windermere Real Estate

Posted on February 14, 2020 at 12:19 am
Erica Haleakala | Category: Maui, Maui Airport, Maui Economics, Maui Investment, Moving to Maui | Tagged , , , , , , , ,

Understanding Wailea Golf Membership

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.

Wailea Golf Membership Application 2018

Wailea Golf Property Owner App 2018


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

Posted on May 21, 2019 at 4:02 am
Erica Haleakala | Category: Maui, Maui Development, Maui golf, Maui Real Estate Reports | Tagged , , , , , , , , ,

The Kahului Airport Master Plan

The main runway at Kahului Airport would be extended by about 1,500 feet to 8,530 feet to accommodate fully loaded aircraft with direct reach to the Midwest, according to an update of the Kahului Airport Master Plan.

Kahului Airport

PC: Hawaii-Guide.com

The update of the state Department of Transportation master plan, forecasts needed improvements to the main airport on Maui through 2035, and was completed in December, following consultations with federal and state aviation and transportation officials, users of the airport and the public.

Prepared by R.M. Towill Corp., the plan lays the foundation for the preparation of a joint federal and state environmental impact statement for most of the first of three phases, which will take three years to prepare, according to state officials.

Other improvements cited in the plan, which would cost $3 billion to complete, include:

  • A much needed reconstruction of the current main runway 2-20, which is 6,995 feet
  • Planning for a new 7,000-foot-long runway, on the Haleakala side of helicopter, tour and other general aviation facilities
  • Expansion and improvements to the terminal.

The plan also calls for moving Shige Yamada’s “Maui Releasing the Sun” statue, situated in 1992 in the area next to the TSA security area, to the baggage claim area where a skylight is located.

Releasing the Sun – A Bronze Sculpture By: Shige Yamada

Lengthening the runway would mean the closure of the “back road” of Haleakala Highway between Hana Highway and Keolani Place. Past efforts by the Transportation Department to close the road, which is seen by many of us as an alternative route in case of an accident blocking Hana Highway, have faced opposition. The closure is projected in Phase 2, to be completed between 2022 and 2030.

Marvin Moniz, Maui District Airport Manager, said that he is working with transportation officials to keep the road open by building a tunnel. He’d like to save the road an keep it open. The winding road around the airport sits in the area of the main runway expansion and protection zone on the south side toward Hana Highway. The plan said that the 8,530 feet is the maximum runway length without having to redesign Hana Highway and to purchase more land, the plan said. Expanding to the north was not feasible because of “extensive land acquisition” required and the relocation of existing homes and the Kaunoa Senior Center.

The runway extension, projected to cost $96 million and built by 2021, would allow planes such as the Boeing 737-800 and 777-200 to take off at maximum weight for cities such as Chicago, Dallas and Denver, the plan said. Currently, those flights have to take off with reduced fuel that requires a stop in Honolulu to refuel before heading to the Mainland.

The main runway is in need of reconstruction, having been resurfaced five times since it was built in 1942. The last work involved an overlay project in 2006 at a cost of $3.4 million, the plan said.

The runway currently is safe but the constant resurfacing instead of rebuilding has led to cracks and joint deterioration over the years that are generating debris that could damage aircraft, the plan said. This potential danger has made reconstruction of the runway — with a 20-year lifespan — a priority of the state Transportation Department and the Federal Aviation Administration.

The projected cost for the runway reconstruction is $104.3 million.

While the reconstruction work is ongoing — which could last up to 16 weeks — an existing apron taxiway east of the main runway could serve as a temporary runway, the plan said. Closing the main runway without an alternative was not a viable option given the loss of $8.4 million a day to Maui’s economy.

There are no plans to extend the 4,990-long runway, which is mainly used by commuter airlines, the plan said.

Although beyond its scope, the plan recommends building a new 7,000-foot-long, 150-foot-wide parallel runway. The runway would be located 2,500 feet east of the main runway on the Hana Highway side of the helicopter and general aviation facilities. It would have the same operational capabilities as runway 2-20 and serve as an alternative should the main runway be taken out of service, the plan said.

The cost is projected at $768 million with acquisition of old Hawaiian Commercial & Sugar Co. cane land “an essential first step” for the runway, the plan said. The runway would be built beyond the 2035 scope of the plan.

The terminal will need to be expanded to accommodate the increased number of passengers near the 2035 end of the planning period. The number of passengers from the Mainland is expected to grow from 2.9 million to 3.6 million by 2035.

There currently are 13 aircraft parking positions — three for interisland and 10 for Mainland flights — in the terminal. The plan calls for leaving space on the south terminal area for expansion.

The larger north terminal has nine aircraft parking spaces and 22 departure gates. With the relocation of cargo and car rental facilities to the new consolidated rental car facility currently under construction, there could be space for an additional exit to the baggage claim area, additional passenger holding rooms and parking areas for planes.

North terminal expansion is constrained by the runway, relegating the area to aircraft parking and movement and airline operations, the plan said. New gates would be added to the south terminal.

The south terminal has four aircraft parking positions, six holding areas and 16 gates. The holding areas are nearly half the size of those in the north terminal and would be tripled in size by plans to build over an interior roadway and connect with the terminal building on the other side.

Some expansion work for the south terminal has been included in Gov. David Ige’s proposed biennium budget from July 1 to June 30, 2019. The governor has included $39 million in revenue bonds for hold room and gate improvements, said Transportation Department spokesman Tim Sakahara.

Moniz explained that the money would be used to enclose the open walkways in the south terminal to enlarge passenger-holding areas and restrooms, widen gate areas and create a retail concession area. Airport officials also are studying the addition of one more jet bridge.

As part of the larger expansion of the south terminal in the plan, air cargo and alien species inspection facilities will be relocated to lots on the south ramp.

The next step is to prepare a joint federal and state environmental impact statement prior to applying for construction permits. The EIS, which will include most of the plan’s Phase 1, will focus on the main runway expansion and reconstruction, improving taxiways for the temporary runway, installation of navigational aids and lights, taxiway realignment, expansion of south terminal hold rooms, relocating the Maui statue, closing a portion of Haleakala Highway, and adding 500 spaces to cellphone/employee parking lots.

The parking structure is near complete and we anxiously await the next phase. If this kind of growth doesn’t speak volumes for Maui’s development as a whole, I don’t know what will. It’s coming folks, and it’s an excellent time to be living and investing on Maui.

If you’re curious, reach out, let’s talk.

Aloha, Erica

 

Article Credit:  Maui News

Posted on September 5, 2018 at 11:32 pm
Erica Haleakala | Category: Maui, Maui Airport, Maui Development | Tagged , , , , , , , , ,

Oceanfront Luxury Rentals at The Mana Kai

 

Absolute oceanfront location in one of the most desirable beach locations in South Maui. The Mana Kai building is like something out of a daydream. Surf, stand-up, and basque in the sun, right in your backyard. Enjoy a sunset stroll on the soft sand and finish it off with fine dining on the beach. This short-term rental opportunity is unlike any other. Seldom having vacancies during the popular months, this investment is almost a no-brainer and an escape away from reality.

There is no better time to start thinking about your retirement.

 

 

 

 

 

 

 

 

 

 

 

 

 

Newly available, unit 707 has remarkable finishes and epic views.

  • 2 bedrooms, 2 bathrooms
  • Panoramic outer island and majestic Haleakala views
  • Highly desirable sandy beachfront location
  • Extremely successful vacation rental

Check out the full listing here.

 

 

 

 

 

 

 

 

 

 

 

 

There is no better place to eat, sleep and play than South Maui. Appreciate all of the hard work you’ve taken to get here.

If you are interested in a vacation rental on Maui, reach out. It’s amazing to see the potential that a revolving asset can do for you.

I’d love to show you the best opportunities available.

With Aloha,

Posted on December 14, 2017 at 12:14 am
Erica Haleakala | Category: Fine Dining, Oceanfront, Short Term Rentals | Tagged , , , , , , , , , , , ,