About Lahaina's Front Street

Aloha from your resident experts!

From Jan 1 to December 31, there were 35 listings (3 were short sale and 8 were REO/bank owned). Out of 35 listings, 5 were taken off the market or expired, 17 were sold, and 1 was pending at the end of the year. At year end there were 12 active listings.

2011 has been a year of extremes—from the lowest priced sale for a 2/2 unit at $205,000 in February to the highest closed sale for a 2/2 at $325,000 in November. The reasons for the extremes are differences in seller’s and buyer’s situation/motivation, location and condition of the units, and timing.

The low was bank owned with no furniture and a quit claim deed; the high was nicely furnished and in one of the best locations overlooking the large pool and pavilion and with a mountain view.

This year, 17 units have sold and 1 is in escrow at year end, compared to 14 sales in the year 2010. With 12 active listings we now have a little over 8 months’ inventory.

The number of distressed property listings has dropped. Currently we have one short sale listing (1/1 unit) and one bank owned unit (2/2 unit). We are seeing an improvement in prices since there are fewer distressed property listings, with all 2/2 units but the bank owned unit being priced over $300,000.

Of the 17 units that closed in 2011, nine were listed or sold by Aloha Realty Group; of those, 7 of the 17 sales were bank owned and 1 was a short sale. In Q4, there were 3 closed sales—none were distressed properties, and one was listed by Aloha Realty Group.

Current asking prices for 1 bedroom units range from $210,000 (upstairs) to $359,000 (downstairs). Current asking prices for 2 bedroom units range from $280,000 (for a 2/2 bank owned unit in the I building) to $375,000 (for a 2/2 downstairs unit in the D building).

We wish you all a healthy, happy and prosperous 2012, and we are expecting a great year at Aina Nalu from the sales side!

Halloween was "Back on Front Street" this year!

Hundreds turn out to participate in Halloween Parade on Front Street in Lahaina Town

This was the first year in quite a while that Lahaina had an official Halloween Celebration on Front Street. Check out our video of some of the costumes and participants!

http://www.youtube.com/watch?v=eyhS0WZHI8U

Do you know when the last official Halloween Celebration was on Front Street?

Live ALoha!

Lahaina Lee

Aloha from your resident experts!


From July 1 to September 30, there were 20 listings (2 were short sale and 3 were REO/bank owned). Out of 20 listings, 2 were taken off the market or expired. And 1 was pending at the end of the quarter.

As of October 10, Aina Nalu owners have sold 15 units in 2011, or an average of 1.67 sales per month. There were 14 sales in the entire year of 2010, so our sales pace is well ahead of last year’s.

Of the 2011 sales, 9 were listed or sold by Aloha Realty Group, so we are feeling very positive about the direction of the market here at Aina Nalu. Our latest closing on October 7 was unit J106, a one bedroom downstairs unit that sold for $205,000 cash.

At this time there are 13 active listings on the MLS for Aina Nalu condos. At the 2011 sales pace, we have 7.78 months of inventory on hand, a bit over the 6 months’ inventory that is considered balanced. However, if you look at the asking prices and the number of distressed property listings, the situation seems to be going in the right direction for Aina Nalu owners. Currently the lowest priced 2/2 unit is at $325,000. Of the 13 active listings today, only one is classified as a short sale and there are no bank owned listings.

We believe bank owned listings have slowed for a few reasons: 1) We have worked through most of the truly distressed properties, and 2) The new foreclosure law in Hawaii has imposed a moratorium on non-judicial foreclosures, so those properties being foreclosed upon will take longer to get to market due to delays in the required legal proceedings.

In the meantime, it seems we continue to have new guests enjoying our resort all the time and occupancies seem to be holding up reasonably well. The first whale was already sighted off the shores of Lanai this month, so we are all looking forward to another whale season.

We wish you a great holiday season and hope to see you soon.


For further information on properties at aina nalu or anywhere on Maui, contact Lee or Barbara at lee@alohapotts.com or barb@alohapotts.com, or call 808.276.8776. You can visit our website at www.alohapotts.com for real estate information and surf all of the listings on Maui anytime you like.

For the fourth consecutive year, we are pleased to announce that Alohapotts.com, Inc. has been selected for the 2011 Best of Lahaina Award in the Real Estate Agents category by the US Commerce Association (USCA).

This is the first year that a business has qualified as a Four-Time Award Winner. Our selection as a 2011 Award Winner is a reflection of the hard work of not only ourselves, but of many people that have supported our business and contributed to the subsequent success of our organization. A big, warm MAHALO goes out to our clients and agents that contributed to our selection to such an elite group of small businesses.

To subscribe to our monthly Maui Real Estate Advisor and other Aloha Realty Group announcements, please click here. Don't miss out on notifications of our newest listings as well as local market sales data.

Aloha and Mahalo Nui Loa!

Lee & Barb Potts
Aloha Realty Group
Lahaina, Maui, HI

For the fourth consecutive year, we are pleased to announce that Alohapotts.com, Inc. has been selected for the 2011 Best of Lahaina Award in the Real Estate Agents category by the US Commerce Association (USCA).

This is the first year that a business has qualified as a Four-Time Award Winner. Our selection as a 2011 Award Winner is a reflection of the hard work of not only ourselves, but of many people that have supported our business and contributed to the subsequent success of our organization. A big, warm MAHALO goes out to our clients and agents that contributed to our selection to such an elite group of small businesses.

To subscribe to our monthly Maui Real Estate Advisor and other Aloha Realty Group announcements, please click here. Don't miss out on notifications of our newest listings as well as local market sales data.

Aloha and Mahalo Nui Loa!

Lee & Barb Potts
Aloha Realty Group
Lahaina, Maui, HI