Many people have commented that although they love to visit Maui as it is unparalleled in natural beauty, it is the lack of entertainment that keeps them from making the permanent move here.  Well, I can wholeheartedly say that it is the furthest thing from the truth!  We have a number of world-class performers visit us.  Some of the upcoming events include:

*  311;  This band’s mixture of rap, reggae, metal, and everything in between created a genre that engages every music lover.  Their newest album is certainly ‘lighter’ than some of their previous efforts, and will attract an even bigger audience (as well as their long-time fans).  Performing on the same card is the local fan-favorite Iration & The Throwdowns.

*  Julio Iglesias;  Whether you have been a fan for the past 40 years or recently came to enjoy his engaging ballads, you will not be disappointed as he has progressed throughout his career to be one of the world’s most noted romantic singers.

*  Sammy Hagar;  One of the most successful and recognized rockers of the past 40 years, Sammy has remained at the forefront of the rock industry by constantly pushing the envelope.  When it comes to good ‘road trip’ music, he has created some timeless rock n’ roll classics.

*  David Spade;  One of my favorite comedians of all time, David has starred in some of comedy’s classics, such as “Tommy Boy” and “Blacksheep” (the list is too long to write), as well as being one of ‘Saturday Night Live’ most memorable cast members (“buh-bye”).  His opening act will be the ‘new crooner’, Brian Evans.

These are just a few of the performers who will showcase their talents in Maui during April, there are many more to satisfy every taste pallet.   After all, what artist wouldn’t want to come perform in Hawaii while enjoying paradise?  Some world-renown performers like Willie Nelson, Nickleback, Oprah (just to name a few) choose to make this their home.  One of my favorite memories in Maui was going to an Aerosmith concert a few months ago, a spectacular performance under the stars by rock’s favorite sons, that’s what memories are made of.

For many, Sugar Beach is the epitome of what Maui life is about.  Its fans credit it as the longest continuous walking beach in Maui (perfect for walking your dog or taking a leisurely pre-sunset stroll), having soft, powdery sand, and being remarkably uncrowded, specially when compared to its neighbors in south Kihei.  And for those who partake in water sports, this is the perfect haven for windsurfing, kite surfing, paddle boarding and much more (all of which are extreme workouts for your core, so prepare to be sore!).

Sugar Beach Resort is a Kihei landmark and a popular destination for Maui residents and visitors alike.  Its allures include its affordability and numerous amenities, such as the beachfront pool, putting green, tennis courts and convenience store.  There is also a lounge in the complex, which is a great place to sit and relax for a beer or two after taking a long day of sun-bathing and water activities.  Two hundred and fifteen condo units ranging in size from 613 to 1260 square feet of living space sit on 4.2 acres of well-maintained tropical oasis, directly on the beach.  Pets are allowed and for investors, this complex permits vacation rental.  You can view current condos for sale in the Sugar Beach Resort by clicking here.  Enjoy.

“Makena” means ‘abundance’ in the Hawaiian language.   And for the privileged owners/visitors of Makena Surf, access to one of the most beautiful beaches in Hawaii, privacy, and the exclusivity of one of Hawaii’s most sought-after communities are certainly abundant.  You can unwind, leave your worries behind and take in the Maui lifestyle, it is no wonder many world-famous personalities make it their vacation retreat.  When compared to Wailea or Kihei, Makena is undeveloped, but it enjoys world-class shopping at the Shops at Wailea, a few of the best golf courses in the world (tee it up), and a number restaurants where some of the most renown chefs exercise their skills (eat up).

Now imagine owning a piece of paradise in the Pacific.  A newly listed 2 bedroom, 2 bath condo with over 1600 square feet of living space make this a great value.  Combined with a motivated seller who will consider owner financing (Agreement of Sale for 3 years at 6% interest for buyers with 25% down), and it becomes a deal too good to pass for buyers interested in the luxury real estate market.  For more information on this or other remarkable properties in Maui, contact us today.

For most home buyers, the real estate tax is a major part of their decision, as a high rate can easily make a home unaffordable to maintain.  In Maui, we have enjoyed remarkably low property taxes (you can click here for the official Maui County tax website where you can find the current rates), but now Mayor Tavares has proposed a new tax increase to overcome some of the revenue losses due to depreciation in home values.

The following are the proposed amounts (per $1,000 of net taxable assessed valuation):
* Time share: $14; no change.
* Improved residential: $5.80; plus 95 cents.
* Apartment: $5; plus 45 cents.
* Commercial: $6; plus 25 cents.
* Industrial: $6.50; no change.
* Agricultural: $5; plus 50 cents.
* Conservation: $5; plus 25 cents.
* Hotel & Resort: $8.75; plus 55 cents.
* Unimproved residential: $7.25; plus $1.90.
* Homeowner: $2.50; plus 50 cents.
* Commercial Residential: $6.25; new tax category.

As you can see, even with the proposal taking effect (which is questionable in a political arena where increasing taxes is highly debated by the public and can amount to political suicide), it still remains remarkably lower than most areas. I have had many buyers ask for tax estimates on specific properties (homes and condos), and when presented with the facts, most buyers can’t believe how low our taxes are.  What does this mean for potential buyers, specially mainlanders or foreign investors? Owning a piece of Hawaiian paradise is more affordable than you could have possibly anticipated. For updates on this and other community news, subscribe to our blog.

Mahalo for visiting and taking the time to read our article.

For many foreigners, purchasing Maui real estate is not simply to enjoy the warm weather during the bleak winter months at home, but also to make an investment with potential for great appreciation.  A rebounding economy, including the real estate market, paired up with a weak US dollar (compared to many foreign currencies), results in unparalleled opportunities to buy homes or condos in Maui.  But like everything else in life, you should perform due diligence prior to making your purchase.  A few things to keep in mind:
*  For owners of property in the US,  you can delay taxes on real estate sales through a 1031 Exchange.  In a nutshell, a 1031 exchange allows capital gains from the sale of real estate to be deferred and used to purchase a similar type of property (i.e. a residential for a residential) if the transaction is completed within 180 days. This 1031 Exchange can be done multiple times in order to defer  capital gains until the property is finally sold and not replaced within the allowed timeframe.
*  In the US, there are hundreds of banks and lending institutions, who may differ greatly in their lending policies not only from each other, but also from finance corporations in your country.  Be diligent and thorough in searching for financing, as there may be fees and penalties which are not common (or allowed) in your home country.  Consider seeking a mortgage through a bank that operates in the US but is owned by larger corporation in your country (i.e. Deutsche Bank) as that might give you more comfort and security.  If you would like a recommendation for a local mortgage broker with years of experience,contact us.

And although this is not of immediate consequence for a buyer (other than abiding by applicable laws), when it comes time to sell your property:

*  Under the Hawaii Real Property Tax Act (HARPTA), the purchaser of Hawaii real estate is responsible for withholding and deducting a tax equal to 5% of the amount realized by the seller upon the transaction’s settlement.
*  Under the Foreign Investors Real Property Tax Act (FIRPTA), the purchaser of real estate in Hawaii (and anywhere else in the USA) is responsible for withholding and deducting a tax equal to 10% of the amount realized by seller upon the settlement of the transaction.

You can file exemptions to HARPTA and FIRPTA in order to lessen the amount withheld by the buyer.  Too many sellers try to sell their properties unaware that they are liable for paying these taxes which could easily eat up into their profit.  Be diligent and seek the services of a tax expert who is knowledgeable in foreign real estate.  Yes, just like anywhere else there are complexities in buying real estate, but don’t let that keep you from making an remarkable investment, making your neighbors jealous, and getting an incredible winter tan.

Aloha!