Papakea Beach Resort

E komo Mai

Aloha &  Welcome!  Happy 2012 New Year to all!!

A few more units hitting the market early this year, and a few more pending sales too. Looks like the market is picking up again.  All in all, it was a good year for sales with 19 sales in 2011 compared with only 8 sales in 2010. More importantly, the Papakea leasehold owners were given their opportunity to purchase the Fee Simple interest. This is going to help Papakea in the long run because of the  negative effects  of leasehold ownership. Leasehold ownership worked in the 1970's when Papakea was first sold, but not in today's world of investment. Today, more and more owners are purchasing their Fee Interest and preserving their future values.

If you are on Maui, my usual  open house  in unit #B-406 will be on Monday. Drop by if you can.  We just dropped the price to $595,000 LH. One of the best oceanview locations @ Papakea. The fee interest is available for purchase if you want to turn it to Fee Simple.

The year end Board meeting was on Friday, Dec 9th. and was mostly about the proposed Exterior Renovation Project. Michael Pang was also there to discuss progress of the Fee Simple sales to the Papakea owners.

There are 5 units in escrow:  Oceanfront studio #A-306 @ $269,000 (LH),Oceanview 2br #G-206 @ $375,000 (LH),   and Oceanview 2BR #G-205 @ $369,000 (LH).  Oceanview 1BR #J-307 @ $339,000 (FS).  First closing of the 2012 year: Oceanview 1BR #D-304 @ $295,000 (FS) on Jan 23rd. Excellent low price for this fixer upper.

Please check the link to my January 1, 2012  NEWSLETTER.

Check MY LISTINGS to see some pictures of the units and to find out the current costs of ownership.

Click on UNITS SOLD for updated sales prices and FOR SALE to check out our current offerings. Got questions? Let me know. Thank you.