Friday, October 28, 2011
Maui was voted as the Best Island in the World again by the readers of Conde Nast, and this year it was also the best destination in the world. So it's no wonder that many flock to Maui to invest in real estate. But what exactly makes the Valley Isle so special? It'd take days to list all the reasons, so for the sake of brevity (and my sanity), I will only list to the top 4 reasons:
* It is a vacation destination unlike any other even when compared to the other Hawaiian islands. It provides a perfect mix of exotic culture, tropical location, and safety of being in the United States.
* At this point, it is a buyer’s market. The inventory of REO's and Short Sales continues to be absorbed quickly and there are opportunities for those who are willing to wait but act quickly when the ideal property comes on the market. And so far, Act 48 hasn't had as big an impact on Maui as it was expected.
* It is a destination that can make a real estate investment into a vacation. Aside from the world-class beaches and golf courses, Maui has an array of activities: from sunbathing, surfing, kayaking, paddle boarding, snorkeling, hiking, to just sitting back and enjoy life passing by, life on the Valley Isle is always just a bit more enjoyable.
* And last but not least, simply because it is Maui! Long known as a long-term equity market, Maui has limited potential for growth due to strict zoning ordinances and there is obviously only but so much oceanfront/beachfront that is buildable. Those who invested in Makena Surf already know, they bought condos in the $400K's back in the 80's and those units are worth well over $2M today. Not many places in the world can claim that kind of appreciation.
If you'd like to know what's currently on the market, visit our Maui real estate site and contact us should you have any questions.