January 1, 2015
By: Fred V. Burgart (PB)
Frederick V. Burgart, Realtor
Aloha Papakea Owners & Future Owners,
Happy New Year to all!! I hope everyone enjoyed
your Christmas & New Years. If you were here on Maui,
the weather was less than spectacular for the start of
the busy season. A couple of weather patterns passed
thru creating cold Northwesterly winds, some heavy rain,
cold nights in the 50s, and inconsistent sunny
skies. Tourism seems to be holding up, the roads are
full, and occupancies are looking strong for 2015. The
Hawaii Tourism Authority hasn't put out any complete
2014 numbers yet, so I'll have to let you know about
that in my next newsletter. Looking forward to a fun and
busy 2015. Hope you can make it to Maui.
4th QUARTER SALES & YEAR END SALES STATS
The 2014 year finished off with 2 closed sales in the
last 3 months, bringing us up to 8 closed sales for the
year. If you recall in 2013, we ended up with 19 closed
sales, so we're ending up less than half the sales we
had a year ago.
We currently have 20 units for sale. Our inventory
has climbed recently after having very low inventory for
most of the year. We do have 2 sales pending, so it
looks like 2015 will see some improvement for sales
activity at the Papakea. The lowest priced unit sold
this year was gardenview two bedroom #H-103 @ $280,000
LH. The highest priced unit sold was oceanfront
two bedroom #L-202 @ $800,000 FS. Out of the
8 sales we had, 6 were Fee Simple, only 2 were
leasehold. Total sales volume was 3.7 million.
LAST BOARD MEETING OF THE YEAR
The end of the year Board of Director was held Dec 5th
at the World Trade Center in Seattle, WA. Most of the
owners on property listened to the meeting in the
upstairs AOAO meeting room.
Highlights of the Annual Owners Meeting were:
1)Sadly to announce the sudden passing of AOAO
treasurer, Barry Franzen. So, there is a BOD position
open and the Board is going to look at other owners to
step in for the vacancy.
2)Renovation Project Update: The project was supposed to
be finished by late December. But if you are here on
property, you will see they aren't done yet and will
have to come back and finish up 'F' building after the
busy season in April.
3)Sink Holes: If you are here on property, you will
notice more sink holes on the oceanfront near the Phase
I shuffleboard court. This is right next to where they
fixed other sink holes.
4)Termite Tenting: Buildings 'E' & 'F' will be done this
year in early May.
5)Resort Fee: More talk and discussion regarding the new
'Resort Fee' for guests and owners alike.
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,