HONOLULU (Island News) — Oahu home sales have heated up this summer. The latest Honolulu Board of Realtors report shows that July year-over-year single-family home sales spiked by 20%.
However, the same could not be said for condominium sales, which dipped nearly 8% in July.
The number of single-family home sales was up by nearly 5%, while the number of condo sales increased slightly by almost 2%.
The median sales price for a single-family home is now up to just over $1.1 million.
The median sales price for a condo is now up to a little more than $500,000.
“While year-over-year sales are mixed, we saw activity in both single-family home and condo sales pick up in July, which is typical for this time of year,” said Fran Gendrano, president of the Honolulu Board of Realtors. “Demand and median sales prices are continuing to hold steady, particularly in the single-family home market, despite an uptick in active inventory.”
Single-family homes moved at a similar pace to 2023, with July sales reflecting 15 median days on market, one day quicker than the median in July 2023. However, the condo median days on market was nearly twice as long as July 2023, climbing from 16 to 30 days.
“We’re closely monitoring the interest rate, condo insurance and new practices and policies that could affect our market, but it will take some time to see any impact,” Gendrano said.”
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Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize.
Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home.
Home Equity: What Is It and How Much Do You Have?
Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is worth $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.
Recent data from the Census and ATTOM shows Americans have significant equity right now. In fact, more than two out of three homeowners have either completely paid off their mortgages (shown in green in the chart below) or have at least 50% equity in their homes (shown in blue in the chart below):
Today, more homeowners are getting a larger return on their homeownership investments when they sell. And if you have that much equity, it can be a powerful force to fuel your next move.
What You Should Do Next
If you’re thinking about selling your house, it’s important to know how much equity you have, as well as what that means for your home sale and your potential earnings. The best way to get a clear picture is to work with your agent, while also talking to a tax professional or financial advisor. A team of experts can help you understand your specific situation and guide you forward.
Bottom Line
Home prices have gone up, which means your equity probably has too. Connect with a local real estate agent so you can find out how much equity you have in your home and move forward confidently when you sell.
Visit my website www.FindMauiProperty.com to search the Maui MLS and Find Helpful Resources.
“Homeowner Assistance Fund expands to $21M to help Maui, Molokaʻi, and Lānaʻi homeowners
August 3, 2024 · 1:00 PM HST
Housing in Central Maui is pictured. PC: County of Maui / Mia Aʻi
Even more homeowners may be eligible for mortgage or other qualified housing expense assistance through the Maui County Homeowner Assistance Fund Program. Homeowners on Maui, Molokaʻi and Lānaʻi who were affected negatively by the impacts of the COVID-19 pandemic may be eligible for assistance and other resources to help avoid foreclosure.
Eligible homeowners may receive up to $60,000 in assistance through the program’s contracted service provider, Catholic Charities Hawaiʻi (CCH).
The program started in May with an initial allocation of $7 million and recently received an additional $14 million. The additional funding will allow the program to serve between 240 and 570 more homeowners who experienced a financial hardship associated with the COVID-19 pandemic. The total number of homeowners to be assisted by the full $21 million in funding is between 357 and 850.
“These additional funds will support Maui homeowners who were negatively impacted by the COVID-19 pandemic and are having difficulty covering their mortgage expenses, property tax and other eligible housing expenses,” said County of Maui Mayor Richard Bissen.
The County is encouraging Maui homeowners who may need financial assistance to apply for the MHAF waitlist, Mayor Bissen said. CCH will initially contact waitlist registrants to prescreen for eligibility as capacity allows. Since opening the program on May 6, 2024, CCH has received 563 waitlist registrations. After screening the waitlist for eligibility and providing prescreen eligibility questionnaire links, a total of 307 prescreen questionnaires and 142 applications were received, representing $545,000 in assistance to date.
“There has been genuine interest in the county’s COVID-19 mortgage assistance program since it began in May, and we encourage County of Maui homeowners financially impacted by the pandemic to apply to see if they qualify,” said Catholic Charities Hawai‘i CEO and president Rob Van Tassell.
Assistance is primarily for mortgage loans but can be provided for other qualified housing expenses. Assistance is prioritized to arrears first and then to future mortgage payments, for up to 12 months or until the maximum assistance amount is reached, whichever occurs first. Future payments for other qualified housing expenses are limited to a maximum of three months or until the maximum assistance amount is reached, whichever occurs first.
Homeowners are not required to have a mortgage to receive other qualified housing expense assistance but must meet all other program eligibility requirements. Other qualified housing expenses include Homeowner Association (HOA) fees, Planned Unit Development (PUD) Community Association Fees, leasehold fees, property taxes, utilities (water, sewer, trash, gas, electric), and homeowners insurance. Other services may be offered, including HUD-certified housing counseling or legal services.
More information is available at https://www.mauicounty.gov/housing; scroll down to “Hot Topics” – Maui County Homeowner Assistance Fund.
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“HONOLULU (Island News) — Rising condo and property insurance rates remain a continuing issue in Hawaii.
Previous disasters, including the Maui wildfires have escalated insurance prices and many renters are reportedly facing significantly higher costs.
As rates go up, some people are not getting renewed – 100% coverage is needed.
The Hawaii Hurricane Relief fund Board of Directors and members met this month to discuss ways to potentially help provide relief – through well over $100 million in the ‘HHRF fund’.
Hawaii State Insurance Commissioner Gordon Ito said, “In the wisdom of the administration and the legislature through all these years, they’ve actually set aside $171 million in the event that Hawaii needs to reactivate the HHRF, potentially tapping into the $171 million – that’s something the board will have to consider”.
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Insurance Associates President Sue Savio stated, “Lahaina brought Hawaii front and center because the mainland had been experiencing huge rate increases and we haven’t – then all of a sudden Lahaina hit and they said, oh my, you are part of America and we’re going to charge you more for your rates.”
“I think the biggest concern for all of us is how is the Hawaii Hurricane Relief Fund going to help us? I just don’t know how often and how much and who it can help – will it be smaller condos, larger condos, would it offer us partial hurricane coverage enough to fill up the gap so we’re not paying as much for maybe the last couple layers of it?”, added Savio.
Many are hoping to see funding approval quickly advance.
Heading toward the one year anniversary of the Maui wildfires, Savio emphasized, “There’s a lot of ifs – another hurricane or fire to hit Hawaii would be devastating, that’s why I think possibly the legislature, Hawaii Hurricane Relief Fund doing something now is important.”
The Hawaii Hurricane Relief Fund Board is set to meet again the first week of August.”
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“The Maui Planning Commission heard more than seven hours of often impassioned testimony Tuesday, then deliberated nearly three hours before advising the Maui County Council to approve a bill to phase-out 7,000 short-term rentals in apartment districts, mostly in South and West Maui.
In the end, the commission voted 5-0 to recommend ending the decades-long grandfathered use of vacation rentals in apartment districts; those on the so-called Minatoya List. The commission’s action comes as Maui faces a housing emergency in the wake of the August 2023 wildfires disaster and steep challenges in building more housing, hampered by high building costs, scarce water and wastewater availability and vacant lands.
“Our community is screaming for this,” said Commissioner Ashley Lindsey, who said she has experience in property management of both long- and short-term rentals.
“Our community needs housing first,” she said. “We need to take care of our people. We need to do what’s right for Maui.”
There’s “lots of money in short-term rentals,” she said. It’s a great investment that “basically pays for your retirement and whatever else you want to do.
However, “we were always supposed to have apartments in those areas,” she said. “People have been lucky to have used those short-term rentals for other reasons (until now), but getting back our communities is the most important part of being part of a community.”
Commissioner Mel Hipolito Jr. said the issue has led to some soul searching.
“I need to really take a deep dive in my heart, in my mind about the future,” he said. The future of “our loved ones, our families, even our families that’s not born yet.”
Hipolito said he’s aware of potential legal challenges, but “I truly believe the mayor and his team have done their due diligence.”
As for concerns about the bill’s economic impacts, the County Council will have the opportunity to investigate and assess those, he said.
Commission Chair Kimberly Thayer noted that the commission is only making a recommendation to the County Council. “We are just one step in the road,” she said. “But we are, you know, an important part of the process.”
“Zoning is not meant to be static,” she said. “It is meant to change over time to reflect the needs of the community.”
Maui County’s zoning code is “very, very old” and “very out of date and in need of change to reflect the current trends in our community, the desires of our people,” Thayer said.
She said the debate over the vacation rentals phase-out has brought up questions such as: “Who are we, and what do we want to be? What kind of future do we want for our keiki?”
Hawaiʻi has gone from a purely subsistence economy to “commercialization of our land,” plantation agriculture, and tourism, Thayer said. Now, “we are not unique in kind of being at a crossroads… There’s communities all over the whole entire world who have had to evolve over time, and now is our time to look at evolving.”
Now, the way Maui’s zoning districts are structured, and “the way our land is quote, unquote ‘used’ is not serving us right now,” she said. “The question is: what is the highest and best use?”
“It’s bubbling up that the best thing for our island and for our people is to change this piece of zoning to kind of change our trajectory into the future,” Thayer said. “This is not a decision that is taken lightly at all… We’re not making this decision for any of us. We’re making this decision for everybody who comes after us.”
The commission’s recommendation includes asking the Council to consider economic impacts found in a study by the University of Hawaiʻi Economic Research Organization, known as UHERO. That study, sought by the Bissen administration, is expected to be ready in time for Council consideration of the bill later this year.
This morning, the Council’s Housing and Land Use Committee, chaired by Council Member Tasha Kama, discussed a proposed request for proposals to study the phase-out of short-term rentals in apartment-zoned districts.
The commission also wants the Council to consider social, cultural, environmental and quality of life impacts. Commissioners recommended that the Council exclude vacation rental properties that community plans designate for hotel use or properties that are partially zoned hotel.
Commission members discussed at some length giving South Maui short-term vacation rental owners more time — as much as three to five years — to phase-out the transient use. However, Hipolito said, “I feel the need is now.” And, the idea was dropped.
When asked Tuesday evening about the timing of the proposed phase-out, Bissen told commissioners it was his decision to choose the effective dates because they reflect the “urgency that this deserves.”
Some people say it’s overdue by 35 years, and now, “you cannot say this is an emergency that needs to be done right away, and (then) say, ‘Let’s take five years,’ ” Bissen said.
As proposed, housing units in apartment-zoned districts will no longer be permitted as short-term visitor accommodations — as of July 1, 2025, for West Maui, and Jan. 1, 2026, for the rest of Maui County.
In the coming months, the Council will receive a Department of Planning report in support of the mayor’s proposal, as well as minutes of commission meetings on June 25 and Tuesday. In those two days of hearings, more than 250 people testified for and against the measure. And, there are several hundred pages of written testimony. (To read written testimony, go to the end of the Planning Department’s report here. Additional written testimonies submitted include those that came after posting June 25 part 1; and part 2; July 9; and documents received after posting July 23 part 1 and part 2.)
On Tuesday, dozens of testifiers were roughly divided over whether residents or visitors should occupy apartments that have been used for decades as transient accommodations. Bill proponents maintained that it’s time to prioritize Maui’s resources, including housing and water, for residents, especially after the August 2023 wildfires that killed 102 in Lahaina and aggravated the island’s longtime housing shortage.
Bill opponents argued that eliminating vacation rentals in apartment-zoned districts would wreak widespread economic damage, lead to business closures and job losses, and threaten the livelihoods of owners dependent on income from their investment properties. They also said vacation rentals would not be converted to residential housing because they’re too expensive and inappropriate for housing because of a lack of living space, storage, parking and recreational areas.
Stephen Thiele, a Kamaole Sands condominium owner, asked the commission to “reject this draconian and unconstitutional bill.”
“This bill stands on the thin ice of a falsehood that the Minatoya properties were built for long-term workforce housing,” he said. “However, the facts are that many of these properties were clearly built to be vacation resorts, operated and managed by hotel companies.”
Thiele said a housing report submitted to the commission contains no information about skyrocketing apartment owner association fees and lacks a full analysis of devastating economic impacts if the bill were to become law. He predicted a class-action lawsuit, based on the constitutionality of taking away a recognized property right.
Maui Tomorrow Foundation Executive Director Albert Perez said decision-makers have ignored the policy of keeping the island’s visitor population below 33% of the resident population while also disregarding the purpose of apartment-zoned districts to provide high-density housing for long-term residents.
Decision-makers need to stop “approving luxury housing,” he said. “It uses up our infrastructure and brings more wealthy people who can pay more for everything.”
Perez cited a UHERO estimate that the phase-out bill would increase Maui’s housing inventory by 13%, “a dramatic increase that will lower housing prices, whether for sale or for rent.”
UHERO also says short-term rentals are operated by those who run multiple vacation properties who would likely sell or rent their units. “So many properties would likely be converted to long-term use,” Perez said.
While addressing commissioners’ questions Tuesday, Bissen also responded to the argument that vacation rentals would not be converted to residential use.
If an apartment unit becomes either owner-occupied or a long-term rental, “I think by it’s very nature, they will go to somebody who resides on Maui.”
The goal is to increase residential housing inventory, and even if a small percentage of conversion from vacation rental to housing yields even 500 units, then “I’ll take that,” Bissen said.
However, he said he thought the number of homes for residents will be higher than a few hundred because even if an owner has two, three or five homes, “you can only live in one.”
“If you can only live in one, what are you going to do with the others?” he asked. “Keep ‘um vacant?” Then owners face losing money on their investments, he pointed out. “If you’re losing money using it as a short term, then maybe switch the model and rent it to somebody long-term.”
Bissen also said his administration is committed to enforcing laws against illegal vacation rentals. He pointed out that his administration reversed a policy not to investigate anonymous complaints. “We’re gonna take every complaint, even if it’s anonymous,” he said.
The mayor said zoning should reflect actual use. So, if some apartment complexes operate as hotels, then they should get hotel zoning, Bissen said. “I mean, if you walk like a duck, you quack like a duck and look like a duck, you’re a duck.”
For decades, Maui County’s policy has been to allow transient vacation rentals to continue operating, legally, in apartment-zoned areas meant for residential use. This has led to real estate speculation, rising property values and an industry in support of vacation rental promotion, sales, management, cleaning and maintenance.
The county currently permits vacation rentals in A1 and A2 apartment districts, provided that units are in buildings constructed before April 21, 1989, and that owners meet other criteria, such as paying higher real property taxes and transient accommodations taxes.
Former Hawaiʻi Attorney General David Louie testified in opposition to the bill on behalf of client Airbnb, giving commission members a preview of likely legal challenges to the measure if it becomes law.
Former Hawaiʻi Attorney General David Louie provided testimony on behalf of client Airbnb in opposition to the vacation rental phase-out bill, saying it’s likely unlawful. Courtesy photo
“This bill will effectively eliminate STRs, despite the fact that STRs have been lawful residential uses for decades,” he said.
Deputy Corporation Counsel Michael Hopper told commissioners that the Legislature’s recent change in the law allows the county to amortize, or phase-out, nonconforming uses over a reasonable period of time. That came after a change in “some case law that came up recently.”
Residential uses cannot be phased-out, he said, but recently passed legislation says vacation rental use, as defined by respective counties, would not count as a residential use.
So the legislation “made clear that that type of use (vacation rentals) can be phased out over a reasonable period of time,” he said.
Louie disputed the contention that the enactment of Senate Bill 2919 has paved the way for legally phasing out vacation rentals.
In written testimony, Louie said statutory protections for vacation rental owners derive from constitutional law. Even after statutory protections are removed, “the constitutional foundation remains,” he said. “Maui’s proposed TVR bill likely violates such constitutional protections.”
“The proposed TVR bill is likely unlawful, violating well-established rights under the United States and State of Hawaiʻi constitutions, and would invite years of lawsuits,” he said. “Both the State of Hawaiʻi and federal courts of Hawaiʻi have explicitly recognized the vested rights of apartment owners to use their homes for short-term rentals. As such, there is a likelihood that the TVR bill [will be] ultimately deemed unconstitutional.”
On Tuesday, a number of testifiers expressed concern that the proposed phase-out of vacation rentals has become a divisive, “us-versus-them issue.” Some suggested finding a middle ground and ways to address Maui’s housing crisis, such as using revenue generated by vacation rentals to pay for infrastructure needed for residential housing development.
Bissen told commissioners that “the last thing we wanted to do from the administration is to divide our community… This is the time for us to be together.”
“The whole idea is to make the inventory available for people who choose to make Maui home,” he said.
The Molokaʻi Planning Commission has recommended approval of the vacation rental phase-out, including a caveat that, if the Council were not to approve it for Maui, that the ban would still apply to Molokaʻi. The Lānaʻi Planning Commission remained neutral on the bill, but provided comments.
Commission Vice Chair Dale Thompson, who has a vacation rental property, was absent Tuesday and did not participate in the commission’s deliberations. The nine-member commission has three vacant seats.
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“GOVERNMENT AND NONPROFIT PARTNERS JOIN TOGETHER TO
LAUNCH $500M MAUI INTERIM HOUSING PLAN
The collective effort, called the “Maui Interim Housing Plan” commits to securing a pool of 3,000 housing units with 18-month commitments to provide a stable place for households displaced by the Maui fires, currently residing in short-term hotels
In response to the urgent housing needs caused by the August 8, 2023 Maui wildfires, government and nonprofit partners launched the Maui Interim Housing Plan, collectively committing $500 million to create a pool of more than 3,000 stable housing units with 18-month commitments. Announced today at Maui Lani in Kahului, which is one of the future build sites included in the plan, this collaborative effort brings together the state of Hawai‘i, County of Maui, Hawai‘i Community Foundation (HCF), Council for Native Hawaiian Advancement (CNHA), Federal Emergency Management Agency (FEMA), and the American Red Cross (ARC).
Our collective goal is to move all individuals and families who are in short-term hotels into long-term stable housing by July 1, 2024.
Solidifying their commitment through a Memorandum of Understanding (MOU), the partners aim to address the immediate housing needs of individuals and families currently residing in short-term hotels. This ambitious initiative ensures stability and a sense of security during these challenging times and provides individuals and families an opportunity to look forward.
“FEMA’s financial assistance has been a critical piece to addressing the immediate housing needs on Maui,” said Governor Josh Green, M.D. “In addition to the $250M FEMA is providing for hoteling and rental assistance to individuals, FEMA is currently leasing approximately 1,500 units to house survivors and is designing multiple group sites to house up to 500 households in Accessory Dwelling Units (ADUs). The estimated costs for these efforts total an additional $450M, which greatly enhances our ability to house all who need it. This partnership is unprecedented and critical to our collective success as a state.”
Maui County Mayor Richard Bissen said, “We want families to know there is a long-term future for them on Maui—and it starts with providing housing stability right now.”
Governor Green and Mayor Bissen have been actively working with FEMA to extend their commitment to house affected families in existing short term hotels, as this transition occurs.
Currently, 2,400-plus households, totaling more than 5,928 individuals, remain housed in more than 30 hotels throughout Maui, in a program of non-congregate sheltering facilitated by the American Red Cross. The Maui Interim Housing Plan outlines a phased approach to delivering housing, prioritizing options that produce permanent housing, efficient use of funds, and readiness for move-in by survivors. The plan includes: residents returning to original unharmed residences, the Host Housing Support Program, direct leasing, short-term rental transitions to long-term rentals, and new permanent developments.
“We mahalo our more than 250,000 donors from around the world who gave to the Maui Strong Fund. It’s with their support that we can ensure that individuals and families affected by the fires can have hope for their next chapter,” said Hawaiʻi Community Foundation President and CEO Micah Kāne. “This is just one of the many ways that HCF is convening partners and deploying its resources to support Maui’s people and places.”
The Host Housing Support Program administered by CNHA started as a pilot project in October. It currently provides financial assistance to more than 200 households throughout the state, who are housing more than 500 affected individuals and families. CNHA anticipates that 300 more households will sign up for the program in the coming months.
“There is no easy solution to address the housing crisis on Maui. It’s a kāko‘o effort that will take government, private sector, philanthropy and the community working in partnership to overcome this crisis situation,” said CNHA President and CEO Kūhiō Lewis. “The road ahead will be long and challenging, but not impossible when we do it together.”
The Memorandum of Understanding, developed under the Maui County Office of Recovery Office (OOR), led by acting Managing Director Josiah Nishita, follows the FEMA National Disaster Recovery Framework. Members of the MOU are already meeting regularly to drive scalable solutions to assist the more than 12,000 individuals affected by the Maui fires.
“The collaborative work occurring between state, county, the philanthropic and nonprofit communities on behalf of Maui, is unprecedented in ensuring everyone, including the most vulnerable, have the resources they need to recover,” said FEMA Region 9 Administrator, Robert J. Fenton, Jr. “The action of this partnership, so early in the recovery process, demonstrates the commitment at the local level to support the Maui community.”
“The Maui community is strong — we have seen that strength expressed daily by the individuals and families we continue to support in more than 30 hotels across the island,” said American Red Cross Director of Wildfire Long Term Recovery Programs Amanda Ree. “We’re proud to be working together with our partners to support the transition to more permanent housing solutions, and help those affected on their road to recovery.”
Beyond individuals housed in Maui hotels, more than 1,000 households, including undocumented individuals, Compacts of Free Association migrants, and previously houseless individuals, are estimated to be residing on the neighbor islands. The collaborative initiative aims to extend its reach to these populations through innovative programs.
The parties have committed initial contributions as follows:
Federal Emergency Management Agency (FEMA) $250,000,000
State of Hawai‘i $150,000,000
County of Maui $40,000,000
Hawai‘i Community Foundation, Maui Strong Fund $50,000,000
CNHA, Kākoʻo Maui Fund $5,000,000
Other Philanthropy $5,000,000
Total: $500,000,000″
See the remainder of the article at the link above.
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If you’re wanting to buy a property, just reach out to me. I was a mortgage lender for over 10 years, worked in new home construction for 1 year, worked for an attorney that specialized in real estate for 14 years, and I have been doing purchase and sales here on Maui since 2011.
Feel free to visit my website www.FindMauiProperty.com to search the Maui MLS and to Find Helpful Resources.
“Unlike in other parts of the United States, wildfires have not been a longtime feature within Hawai‘i’s ecosystem. But changes in land use, population and climate have escalated fire risk in the Islands, “literally in two generations,” says Andrea “Nani” Barretto. She is a co-executive director at the Hawai‘i Wildfire Management Organization, a nonprofit based in Waimea. “In terms of our behaviors and understanding, we have a lot to catch up on.”
Additionally, fighting fires can be more difficult in Hawai‘i. “It’s not only trying to get resources from the continental U.S., but even sharing resources like an engine truck from island to island,” says Michael Walker, the state’s fire protection forester at the Department of Land and Natural Resources’ Division of Forestry and Wildlife.
However, wildfires “are not like other natural hazards,” says Barretto.
“We can control where wildfires go, unlike hurricanes.” We can also predict where wildfires may travel. The majority of homes are ignited by embers that fly through the air. Piles of leaves that accumulate in certain spots in your yard or on your roof, these are good clues to where wind would spread a fire. The good news is, says Barretto, “There are a lot of proactive steps residents can take ahead of time to protect their homes, yards and neighborhoods from wildfire.”
Firefighting should be seen as the last line of defense, according to Barretto. “There’s a myth that the fire fighters can just come out and take care of it. When a wildland fire turns into a structure-to-structure fire, that is a conflagration, and they won’t be able to keep every home safe. It’s really up to the resident to keep their home and yard fire-resistant. Because wildfires are a new reality; they aren’t going anywhere.”
Here are six ways to fortify your home against wildfires.
1. Harden the First Zone
The first five feet around your home is a crucial zone, says Walker. Since homes are often ignited by ember showers, you want an area where there is nothing for embers to ignite. Envision smooth river rocks and minimal plantings, for example, rather than a bunch of bushes surrounded by tree-bark mulch. Pavers and gravel are other noncombustible options that can be used close to the structure.
2. Schedule Maintenance
Just as we have regular cleaning tasks around the interior of the home, Barretto suggests a weekly tidying of exterior areas. “You want the yard to be lean, clean and green,” she says. That means minimizing fuel sources and keeping what remains moist.
Image: Getty Images
Remove weeds and debris such as dead leaves and branches from your yard, roof, carport and lānai, and clear any vegetation out from under steps and other surfaces. Mow grass to a low height. Keep gutters clean.
Prune low-hanging branches so that nothing is lower than 6 to 10 feet off the ground. “There has been some concern with people having trees in their yard. It’s fine to have trees; it’s how you maintain them,” says Walker. Lower hanging limbs, he explains, are ladder fuels that can spread flames upward.
You don’t want crispy-dry plants, so keep your yard’s irrigation system maintained and active. You can also investigate using drought-resistant plants or xeriscaping to reduce theneed for watering.
3. Pick Up Clutter
“A lot of times in Hawai‘i, we have the surfboards, the one-man canoes, the lumber for the projects, and you lean them against the side of the house,” says Nicholas Tanaka. He is a public education officer and fire inspector with the Maui Fire Department’s Fire Prevention Bureau.
“Removing the fuel from the area around your house is a best defense,” says Tanaka. That includes items like propane tanks or stacked firewood.
Limit combustibles like outdoor furniture and planters in those first 5 feet around the home, suggests Barretto. Minimize the use of wood lawn furniture and swing sets and leave plenty of space between them. Table umbrellas, and accessories like shades, screens and even natural fiber doormats, can catch fire too. Select materials that are more fire-resistant, like a rubber doormat.
4. Stay Mindful of Materials
Whether constructing a new home, or renovating, building materials matter. Go for glass skylights, for example, rather than plastic or fiberglass versions that might melt if embers land on them. Choose aluminum gutters over plastic versions, and for fences, use metal rather than wood.
Window size is a factor too, according to Tanaka. “Bigger windows will break faster in heat because of thermal expansion.” Invest in good double-paned windows, he suggests.
Also, any hollow spaces, such as eaves, soffits (the connecting material beneath eaves) and vents should be covered with a 1/8-inch mesh, to repel embers.
Image: Getty Images
Building a wildfire-resistant home can be done for roughly the same construction costs as a typical home, and many such homes have additional benefits such as reduced maintenance or longer lifespan, according to research conducted by Headwaters Economics, a Montana-based nonprofit research group focused on community development and land management.
Fire-resistant roofing options include composition shingle, metal, clay or cement tiles; for exterior walls, fire-resistant building materials include cement, plaster, stucco and masonry.
Retrofitting an existing home can be more costly than building new, with components such as the roof and windows adding significant expense, according to Headwaters’ research.
However, “if you are doing an upgrade to your home, that is a good opportunity to invest in wildfire safety, because you can kill two birds with one stone,” says Barretto.
Your top priority should be a fire-resistant roof, as the large surface area makes it particularly vulnerable to catching fire.
5. Be Ready To Go
Image: Getty Images
“The best defense against what people are concerned about – structural ignition – is nothing you need to buy,” says Tanaka. “We want to be prepared and it can be as simple as a go bag. Have some water, a couple changes of clothes, medications and important documents in something you can easily evacuate from your house,” he says.
He adds that mental preparation and acceptance is important, too. “Be prepared to say goodbye to what you know,” he says, “and only take what you really need to have.”
6. Create Community
Walker encourages people to join a Firewise program. “It’s a nationwide program where you can get your community assessed; it’s a great way for folks to get to know each other, discover risks, and find out who is elderly or disabled, who might need help with their lawn maintenance or evacuating in an emergency. You can protect your community as a whole.”
You can, as a community, also figure out evacuation routes. Ideally, plan for at least two routes out of the neighborhood.
On Hawai‘i Island, Erin Harner is a Firewise team leader for the Pu‘u Anahulu community, a Kailua-Kona neighborhood of 150 homes. She became certified for the volunteer position in 2020.
She and her fellow volunteers typically throw one event a month, such as “chipper day,” where neighbors were asked to collect dry leaves and dead branches, and a chipper company came through and turned the waste into mulch.
Another month, they hired a big dumpster for green waste, and neighbors piled it high. “Pulpy stuff, like bananas, or agave, or trimmings from bushes,” says Harner. “We filled that dumpster up three times. People love it. You find something they need and want, and then they will participate.”
Sometimes, the assistance is more personal, like the time volunteers got together to help an elderly resident clear an overgrown vacant lot next to her home. And the volunteer fire department has assisted with training.
Harner has also received training from the Hawai‘i Wildfire Management Organization’s Wildfire Home Risk Assessor Program, which helps homeowners spot risk potential. “Nani got about 50 people to show up in Kona from four islands; we had two days of training, and then Zoom meetings afterward to continue the education,” Harner says. The free risk assessments take about 30 to 60 minutes; request one at the HWMO’s website.
“I’m telling my neighbors, who I play pickleball with, ‘Let me come do an assessment,’ ” she says.
She notes that after a large fire, there’s a lot of attention and concern about the topic, but then community interest may dwindle.
“We had a big fire behind our community a few years ago,” she says, “and people were freaking out. About 100 people came to our next meeting. The last meeting we had, there were only 20 people there.”
As Barretto notes, “There is a role for everyone in fire prevention. Fire is complex, and 99% of wildfires are started by people. It’s a human issue – a human disaster. The only way to solve it is through the e orts of humans.”
“The price of a single-family home in Maui County soared to $1.35 million in June, up 30.8% over the same month last year, the Realtors Association of Maui reports. Meanwhile, condos remained virtually unchanged at $980,000.
Sales volume showed some volatility, with condo resales dropping 36.6% from 93 in June 2023 to 59 last month, the association said. For single-family homes, sales volume went down 9.7% (72 to 65 units) for the same time period.
“Maui’s housing market presented a mixed bag of trends in June,” RAM President Steve Baker said. “While we observed a slight decline in single-family home sales, the median sales price for these homes experienced a significant surge, indicating a strong demand for single-family homes on the island. In contrast, condo sales decreased by 36.6%, highlighting the dynamic nature of our housing market, influenced by various factors including economic conditions and buyer preferences. As we move forward, our focus remains on providing valuable insights and support to our members and the community at large.”
A chart provided by the Realtors Association of Maui shows single-family and condominium sales volume and prices in June 2023 and the same month this year. PC: RAM
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The association said that new listings increased 17% for single-family homes and 9.8% for condominium homes. Pending sales decreased 25.4% for single-family homes and 40.4% for condominium homes. Inventory increased 25.8% for single-family homes and 198.2% for condominium homes.
Days on market increased 4.4% for single-family homes but decreased 6.3% for condominium homes, the association reported. Months supply of inventory increased 33.3% for single-family homes and 259.3% for condominium homes.
The association’s metric for housing affordability sunk to an index figure of 29 for single-family homes in Maui County, falling 25.6% from June 2023 and matching the lowest index point hit in October 2023. For condos, the index was 40 in June, down 2.4% from the same month last year and off five index points for the 12-month average of the year.
The index figures show housing affordability for the region. For example, an index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Looking at single-family home sales by region in June, the highest volume was reported in Wailuku with 85 sales (up 13.3% from June 2023), followed by 61 in Kīhei (up 5.2%), 47 in Makawao-Ulupalakua-Hāliʻimaile (up 104.3%), 37 in Kahului (down 33.9%) and 34 in Ha‘ikū (up 25.9%).
The highest median sales prices were $4.85 million in Wailea-Makena (down 16.4% from June 2023), followed by $4.75 million in Kapalua (up 8%), $2.93 million in Ma‘alaea, $2.76 million in Maui Meadows (down 1.1%), $2.73 million in Kā‘anapali (down 22.1%), $2.49 million in Spreckelsville-Pāʻia-Kūʻau (up 24.6%) and $2.34 million in Lahaina (up 16.8%).
The lowest median sales prices for single-family homes were $510,000 on Molokaʻi (up 27.5%) and $697,500 on Lānaʻi (down 2.8%). Median prices in all other areas are well in excess of $1 million. For example, Wailuku prices rose 24.4% to $1.26 million, and median prices in Pukalani went up 16.3% to $1.25 million.
Condominium values were generally lower, although luxury, resort area units commanded sales prices than rivaled single-family homes. The highest values were in Wailea-Mākena where 86 units sold for a median price of $2.71 million (up 35.9%), followed by Lānaʻi where three units sold for a median of $2.4 million (up 45.5%) and Kapalua where 15 units sold for a median price of $2.35 million (up 40.3%). The lowest prices for condos were in Kahului ($250,500, down 9.4%) and Molokaʻi ($275,000, down 11.9%).
The association collects its sales and other data from its multiple listing service system.
For more information, click the market statistics tab at www.ramaui.com.
If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices. But they want a home that’s move-in ready. A recent press release from Redfin explains:
“Buyers are still out there and they’re willing to pay today’s high prices, but only if the house is in really good shape. They don’t want to spend extra money on paint or new appliances.”
It makes sense when you think about it. They’re having to pay a lot of money for a house in today’s market. That means they may not be able to easily afford upgrades after they move in. So, if your home is outdated or needs some work, buyers might pass it by or offer a lower price than you were hoping for.
And there are a lot of homes that need upgrades right now. Millions are entering their prime remodel years, meaning they’re between 20 and 39 years old. Maybe yours is one of them. According to John Burns Research and Consulting (JBRC), the number of homes in their prime remodel years is high and growing (see graph below):
If your house falls into this category, it’s important to consider making selective updates to help it appeal to buyers, so it sells faster. But how do you know where to spend your time and money?
Why You Need a Real Estate Agent
By working with a local real estate agent to be strategic about the improvements you make, you can be sure you’re making a smart investment. Put simply, not all upgrades are worth the cost. As Bankrate says:
“Before you spend money on costly upgrades, be sure the changes you make will have a high return on investment. It doesn’t make sense to install new granite countertops, for example, if you only stand to break even on them, or even lose money.”
And, as that same Bankrate article goes on to say, that’s where a local real estate agent comes in:
“. . . a good real estate agent will know what local buyers expect and can help you decide what needs doing and what doesn’t.”
Your agent will know what buyers in your area are looking for and what they’re willing to pay for it. By working together, you can avoid spending money on upgrades that won’t pay off. Instead, they’ll fill you in on which changes will make your house more appealing and valuable.
Bottom Line
Selling a house right now requires more than just putting up a For Sale sign. You need to make sure it’s in good condition to attract buyers who are willing to pay today’s high prices.
The way to do that is by making smart improvements that will give you the best return on your investment. Let’s work together so you know what buyers are looking for and what your house needs before selling.
Visit my website at www.FindMauiProperty.com to search the Maui MLS and find useful resources.
