Maui Is # 3 Hottest Market In U.S. For 2008

The Maui real estate market isn't anything like the Florida, Las Vegas or California real estate markets. I have been so busy that I have not had time to update this Blog in several weeks. Real Trends, a company called Housing Predictor, has released its annual Hottest 10 Buyers Markets report. They name the top 10 markets where real estate is still appreciating, despite a slowing economy and housing crisis. Two of the top ten are in the State of Hawaii. Honolulu is number 1 and MAUI IS NUMBER 3!! Buyers need to understand Maui is a limited commodity (tropical paradise) that attracts international buyers unlike most of mainland U.S.A. The falling value of the dollar is making Hawaii an attractive buy. The inquiries being experienced by the good agents from international buyers, especially Canada, is overwhelming. 2008 should be an interesting year. If you are sitting on the fence, now is the time to buy.

Buying a Vacation Rental Property On Maui

Transient Vacation Rental (TVR) is a hot topic in Maui County. If you are considering the purchase of a Maui vacation home, and your goal is to rent it out to other vacationers while you are off island, there is very IMPORTANT information you must know. First, nearly every single family residential home on Maui cannot be rented out nightly as a TVR. As of January 1, 2008, Maui County is now enforcing old laws that require a minimum 6 month rental agreement on all single family homes except for the very few that are in "Hotel Zone" deeded properties such as Maluhia at Wailea. However, there are lots of condominiums zoned for nightly rentals and this is what most mainland consumers are seeking since they offer an easy turn key event with little obligation to maintenance of the property. Therefore when doing your own property search, those condos that do not allow nightly rentals will be less money than condos of equal caliber that permit nightly rentals. South Maui (Wailea, Kihei, Maalaea) and West Maui (Kapalua, Napili, Kahana, Kaanapali, Lahaina) host nearly all the condominiums eligible for nightly rentals in addition to those condos that do not permit nightly rentals. North Shore has very, very little inventory of condos zoned "Hotel". With this in mind, you may want to refer to the "NOTIFICATION SERVICE" on the tool bar of my home page completing all the information in order to help you target exactly what you are looking for in a property on Maui. This will help you focus on what is truely available for your intended purpose.