Nov 05

Kai Ani Village Opens On-Site Showroom in Kihei, Maui

FOR IMMEDIATE RELEASE
Contact: Julie Senter
Senterline Communications
310.975.5058


October 28, 2009 – Kihei, Maui – Kai Ani Village, a brand new live/work community conveniently located on South Kihei Road in Kihei, announces the grand opening of its on-site showroom.

With 20 live/work residences and 79 home-style condominiums, Kai Ani is the perfect blend of business and pleasure. The community, located at 1367 South Kihei Road, offers two and three-bedroom homes in seven distinctive open-style floor plans.  The 6.4-acre development nestles free-standing buildings, quiet lanes and winding walkways next to a beautiful rehabilitated wetlands area, just one block from the ocean and Kihei’s main shopping district.

Homes prices start at an affordable $329,900 and are environmentally friendly, having been built to the exceptionally high Hawaii Built Green program standards.  All homes are built to conserve energy and water and feature well-appointed kitchens and baths, including granite countertops, maple cabinets and ceramic tile floors. Each home includes a separate laundry room or laundry area and an expansive lanai. Community amenities include an infinity pool and spa with recreation area and spacious poolside deck, separate men’s and women’s bathrooms at pool area, a BBQ area, poolside cabanas, relaxing hammocks in recreational area and lush tropical landscaping.

For those wanting to work and live in the same location, Kai Ani offers three distinctive live-work floor plans, all of which feature an exclusive first-floor work area with street visibility and a separate bath, large, livable area upstairs with two bedrooms, a two-car attached garage with direct access and customer parking.

“We created Kai Ani Village to be a walkable, smart growth community that provides opportunities for both business and pleasure in the paradise that is Maui,” said Tim Piasky, COO of Victory Development Hawaii, Kai Ani Village’s environmentally conscious developer. “Our homes have the conveniences and amenities today’s buyers want, at a price they can afford.”

Piasky went on to say that with today’s low mortgage rates, buyers who qualify can often pay about the same amount for a mortgage on a Kai Ani Village home than they pay a landlord for rental housing.

“Prices have dropped so significantly it’s again a good time for renters to become buyers,” he said.

About Kai Ani Village

Located at 1367 South Kihei Road in Kihei, Maui, Kai Ani Village is a 99-unit, new-home community featuring 20 live/work condominiums. Amenities include two and three bedrooms, granite countertops, separate laundry areas, expansive lanais, and communal pool, barbecue and walkways. A Hawaii Built Green community, Kai Ani Village is a smart growth development located within walking distance of Kihei’s main shopping district and recreation areas. The sales office is open daily from 9 a.m. to 5 p.m. Showroom: (808) 875.7878 – Fax number: (808) 874.8713

Jun 28

TWO WEEKS TO OPENING OF KAI ANI VILLAGE MODEL UNIT

In two weeks, Kai Ani Village unit 3-102, a live work unit, will be available for public tours. Look for us!

Jun 28

NATIONAL INVENTORY STABILIZING

As the attached chart shows, national for sale inventory has stabilized over the past several months. This is good news for property owners and may be signalling a bottom to prospective buyers. How does this affect Maui real estate? Directly not much. But changing mainland mindsets is the first step to increasing demand on Maui.

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Jun 28

SALES ACTIVITY INCREASING EVERYWHERE

And that includes Maui. We would expect that sales activity increases are necessary to see price stabalization. So this is good news for Maui real estate.
 

The National Association of Realtors reported that existing home sales ticked up 2.4% last month to a seasonally adjusted annual rate of 4.77 million units compared to the downwardly-revised rate of 4.66 million in April. The sales missed expert forecasts of 4.82 million annual units, according to a consensus estimate of analysts compiled by Briefing.com, and are off 3.6% from the 4.95 million-unit pace 12 months ago.

May 12

DECLINING NATIONAL INVENTORY

In today's Wall Street Journal the following
 

The number of homes listed for sale in many U.S. cities continued to fall in April in what some analysts see as a sign that the market may be nearing a bottom…The supply of homes for sale in 29 major metropolitan areas at the end of April was down 3.6% from a month earlier, according to figures compiled by ZipRealty Inc., a real-estate brokerage firm based in Emeryville, Calif.

This is excellent news although the period being examined is relatively short.

In some of the markets most affecting Maui real estate Bakersfield inventory was down 14%, Orange County was down 8%, San Diego and Sacramento 5%, Las Vegas down 11%, Los Angeles down 14%.

This is GREAT news.

May 11

INCREDIBLE FINANCING AT KAI ANI VILLAGE

Victory Development Hawaii in conjunction with Wells Fargo Bank is offering an extraordinary financing opportunity at Kai Ani Village. Today, qualified buyers in buildings 1,2 and 3 can obtain financing a full percentage point below that available in the marketplace generally for a 30 year fixed rate mortgage. Today those rates would be in the 4.25% range. That savings translates to approximately $300 per month and $100,000 over the life of the loan. For details contact us at Coldwell Banker Island Properties.

Apr 13

MAUI SUNRISE

Apr 13

THE CASE FOR BUYING NOW

From the Wall Street Journal's Bret Arends
 
Maybe the moment of maximum pessimism is at hand after all…So let me play devil's advocate and consider the positive case for buying a home right now. The key factor: Interest rates. If you can borrow at 4.5% or 5% over 30 years, many purchases start to look appealing. Especially if we get a hefty dose of inflation down the line. If that happens, your monthly payments will be low and you'd get to repay the principal over time with devalued dollars. That's a double win.
 
The entire article is worth a read.

Apr 13

FEBRUARY SALES RESULTS

The national February sales figures show that
  • Existing sales rose 5% from January to a 4.72 million annual rate
  • Months of supply increased slightly to 9.7 months
How does that affect Maui real estate? Directly it doesn't at all. But both of these data points seem to indicate that we are at or near a bottom.

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Apr 05

FIRST QUARTER MAUI REAL ESTATE RESULTS

Condominium sales across Maui fell 49% in the first quarter of 2009 compared to the same period a year ago. Median sale price declined 27% and the average per square foot value was 29% lower. Single family homes saw similar trends with unit sales falling 34%, median sale price falling 22% and average value per square foot down 27%.
 
Now obviously none of this is good news but we are now weeing prices at 2004-type levels and that makes it a heck of an opportunity.
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