Monthly Archives: January 2012

Maui Real Estate Sales Statistics for December 2011

The Realtors Association of Maui released the statistical report for property sales as of December 2011, which shows that residential sales for all of 2011 (January-December) rose by over 10% to 898 units versus YTD of 2010. The total volume of residential homes sold was up for 2011 by 16% to more than $700 million sold on the island. The median price of a home sold on Maui was down 6% in 2011 to $433,500 compared to year 2010. Forty-five percent of all residential sales reported in the MLS were either an REO or Short Sale.

Condo number of units sold was up slightly by 1% in 2011 to 1,155 units sold compared to the previous year, yet the total dollar volume was down by 25% to over $561 million sold. The median price was down by 18% to $310,000 in 2011 when compared to year 2010.

 

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Chinese New Year Lion Dancing on Maui 2012

The Au’s Shaolin Arts Society, based in Honolulu, will be very busy the next few days on Maui peforming lion dances at numerous venues throughout the island of Maui to ring in the Chinese New Year, celebrating the Year of the Dragon. The Maui News published  today a schedule of the peformances taking place Thursday January 26 through Sunday January 29.

Thursday,  January 26, 2012
8 am  – Kamehameha Schools Maui
10 am – Makawao Elementary School
11:15 am – Longs Pukalani
12:45 pm – Kula Elementary School
1 pm – Pomaikai Elementary School
3 pm –  Kaanapali Shores
6:30 pm  – Westin Kaanpalai Shores Villa 1
7:15 pm  – Westin Kaanapali Shores Villa 2

Friday,  January 27, 2012
8:30 am – Island Lock & Safe
9 am – Maui County Building
9:30 am – Princess Nahienaena Elementary School
10:30 am Napili Plaza
12:30 pm – Ma’alaea Harbor Shops
12:30 pm – Papakea Resort
2:30 pm – Aloha Mixed Plate
2:30 pm  – Maui Marriott
4 pm – Westin Maui
5 pm  – Front Street
8 pm – Star Noodle

Saturday,  January 28, 2012
10 am – Makawao Town
11:15 am – Longs Kihei
12:30 pm – Cycle City Maui
2 pm – Lahaina Cannery Mall
7 pm – Makena Beach and Golf Resort
7 pm – Topaz-Dolphin Plaza Mall

Sunday, January 29, 2012
9 am – Kaanapali Beach Hotel
11 am – Kaanapali Beach Hotel
2 pm – Queen Kaahumanu Center
5:30 pm – Old Wailuku Inn
7:45 pm – Dragon Dragon Resaturant – Maui Chinese Association

 

 

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Home Affordable Refinance Program (HARP) update

Many homeowners who are “upside down” (owe more than the home is worth if sold or appraised today) on their primary residence and have a loan on their property may now be able to refinance into a loan with more attractive interest rates, thanks to changes in the government’s HARP (Home Affordable Refinance Program), which were announced in October 2011 by the Federal Housing Finance Agency.

This is an exciting program that will benefit many homeowers who have been unable to refinance through traditional loan programs because their properties would not be able to appraise to meet normal requirements. This will allow many homeowners to take advantage of today’s low interest rates.

Homeowners will have to meet certain criteria, such as having a loan that is currently backed by either Fannie Mae or Freddie Mac loan, and it must have been sold to either prior to May 31, 2009. For those that qualify, the existing loan to value ratio requirments will be removed under this program. Borrowers must also be current in the last 6 months on their loan and have no more than 1 late payment in the past 12 months on their loan.

Many lenders are still working out the logistics and compliance in being able to offer the program to customers, with some expecting to roll out the program in March 2012. Talk to a trusted loan officer to find out more and see if you qualify.

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Happy Year of the Dragon

Happy Chinese New Year! Kung Hei Fat Choi! Jan 23, 2012 marked the first day of the Lunar New Year – the Year of the Dragon! This is the most important holiday for many around the world who celebrate the lunar calendar – not only for the Chinese but also other cultures such as the Koreans, Japanese and Vietnamese.  In Hong Kong, where I had the opportunity to live for a couple years, it is a huge holiday with businesses shut down for days and many obligations to the occasion.

Here on Maui, the Chinese New Year celebration isn’t as big of a deal as in some parts of the world, but we have many people who live here with ties to cultures that do find this to be an important occasion. Here are some of the different ways on Maui to welcome the Year of the Dragon, one of 12 animals that rotate each year among the Chinese Zodiac. I am especially fond of the Year of the Dragon, having been born in the Year of the Dragon myself.

– A Saigon Café  in Wailuku celebrated the New Year yesterday with lion dancers and a special dish.

– Mike’s Hong Kong Bistro in Wailuku is offering specials for the Chinese New Year until the end of January, including the lucky and traditional Chinese dessert gau, a gelatinous treat.

– The Wharf Cinema Center in Lahaina will be celebrating with an annual Chinese New Year celebration on Wednesday Janauary 25 at 11:30 am with fireworks and lion dancing

– The Piilani Village Shopping Center in Kihei will celebrate with lion dancing on Thursday January 26 at 4:30 pm.

Maui Mall in Kahului will be hosting a Chinese New Year event on Saturday January 28 form 9 am – 2 pm featuring lion dancing, crafts, a Chinese cooking contest and food booths.

– Dragon Dragon is a very popular and elegant Chinese restaurant in Maui Mall and a fitting place to celebrate the Year of the Dragon.

-Topaz Goldsmith and Gallery at the Dolphin Plaza in Kihei will be holding a celebration on Saturday January 28 at 7 pm which will include firecrackers, food and noise makers for kids, as well as a lion dance.

Kaanapali Beach Hotel, whose owners are from Hong Kong,  will be holding a special brunch to celebrate the Year of the Dragon on Sunday January 29 form 8:30 am – 1 pm. Fireworks and lion dancers will perform at 9 am and 11 am.

On behalf of Delmore Realty , we wish you a happy and properous year.

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