Maui-Realty.com is dedicated to "The Papakea Beach Resort. We provide you with current condo/unit sales information which will help you with your purchase decisions. Please call and ask for Frederick V. Burgart, Realtor.

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Frederick V. Burgart, Realtor

P O Box 1921
Wailuku, Maui, Hawaii 96793

OFFICE: 1-(808)-242-7249
FAX: 1-(866)-451-2365
EMAIL:

Click on any of the options above to find the information you need. Or if you are interested in any other condo properties, I have full access to the complete MLS system. Please feel free to email me so I may provide you with the info you need.

Frederick V. Burgart,

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Papakea Beach Resort,
Latest Newsletter

PAPAKEA

ROUND-UP

OCTOBER 1, 2016

By: Fred V. Burgart (PB)

Frederick V. Burgart, Realtor

Aloha Papakea Owners & Future Owners,

Hope you all had a fantastic summer. Those of you who were here a week or two ago for the Annual owners meeting were treated with gorgeous weather, perfect for the outside parties. If you remember my last newsletter telling you about the huge fires on the Pali, well since then we got a huge downpour a few weeks ago that almost washed out the road between Lahaina & Kahului. With nothing to hold the loosened dirt, the floods brought down tons of mud and debris. Currently, we're back to the usual beautiful fall weather, pretty much normal for this time of year. It's the 'off season' but tourism seems busier than normal. It may be another record breaking tourism year for Maui.

3RD QUARTER SALES STATS 

Can't really explain the big uptick in sales, but  during the last 3 months there were 7 more closed sales. That increases our sales total to 18 sales for the first 9 months of the year. Last year at this time we had 11 sales, so the sales are far better so far this year. With another 6 units now pending, sales activity continues steadily along. Our inventory has dropped to just 17 units offered for sale. When  you check the enclosed "Papakea Units for Sale", you'll see we back down to having just 1 unit for sale in the  one bedroom oceanview category. It's a very popular category and price range for most Papake people. Prices seem to be slowly but surely increasing. We'll see how the rest of the year goes, but I can't remember the last time we had over 20 sales in a year.

SEPTEMBER BOARD MEETING AND ANNUAL OWNERS MEETING

The meetings were held the weekend of September 23rd & 24th at the neighboring Kaanapali Beach Club, which is a convenient walk down the beach from Papakea. The meeting hall was packed as usual and there was no problem getting quorum established.

Highlights of the meeting were:

1) Two Board of Director positions were open and voted in were Board of Directors already:

Elected: Stuart Gray (A-307 & E-304)

Elected: Mike Dean (B-405)

Just like last year, the other contender was Lou Bellardo of unit #L-404 who ended up with 15% votes but not enough. That means the Board of Directors will remain the same.

2)Lease to Fee Loan Balance: The Board of Directors has authorized the payments to all the 198 or so owners who purchased the Fee Simple interest for their units a few years ago. The loan balance is $189,000 so it looks like the owners will be getting close to $1,000. Something unexpected I presume.

3)Emergency Seawall Repairs: Lots of talk about the emergency seawall project and costs involved. 'A' & 'L' buildings are now complete and now 'F' building gets the repairs. The $5 million seawall loan payments don't start  until April 2017.

4)Canal: The canal is deteriorating rapidly and the Board is seeking ways to address the issuue.

Have a great year!

MY WEBSITE: if you are looking for updated information regarding Papakea, please search my website for all the latest info on sale,  listings, & cost of ownership.  You can always drop me a note for any questions you may have.

Aloha & Mahalo,

Fred


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