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:

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Frederick V. Burgart,

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Papakea Beach Resort,
Latest Newsletter

PAPAKEA

ROUND-UP

April 1, 2016

By: Fred V. Burgart (PB)

Frederick V. Burgart, Realtor

Aloha Papakea Owners & Future Owners,

Our 2016 busy season is in full force right now with all of the 'spring breakers' on island. Tourism has been excellent on Maui as reported by the Hawaii Visitors Bureau. All other islands had a slight drop in tourism, but not Maui. We've had a very dry winter and LOTS of VOGGY days. Because of 'El Nino' most storms tracked north of the islands. These storms also caused some the biggest surf, and cleanest surf in decades. Hope you can come see all of the action.

1ST QUARTER SALES STATS 

The first part of the year has started off with 3 closed sales. Activity started off awfully slow, but soon interest and sales finally took hold and we now have 6 units now pending. Inventory started to rise, but with the recent increase in sales activity inventory now stands at 22 units offered for sale. Even with the seawall issue, Papakea sales interest has been very good this year.

1ST BOARD MEETING OF THE YEAR

The Board of Director meeting was held on March 11th in the AOAO upstairs meeting room.

Highlights of the meeting were:

1)Lobby Renovation / Basement Reconfiguration: Discussion on spending $270,000 for lobby renovation and then what to do with the basement area below the front desk/lobby.

2)Emergency Seawall Repair: Discussion to take out a 5 million dollar loan for the project repairs which is supposed to take all year long to complete. They've been in front of 'L' building for at least 3 months.

3)Exterior Renovation Project: Work is officially completed and they can close the books.

4)Budget 2016-2017: Discussion on increasing the dues or raising the resort fee to offset budget increases.

5)Fire Windows: Letters were sent out to 70 or so end unit owners who are now on notice of Fire Code changes. These end units close to the stairways are now forced to spend upwards to $7,000 for the new fire code windows.

While I am at it, I might  mention that I talked with the Medusky & Co. regarding the remaining 31 Fee Simple interests Medusky purchased from the AOAO. They have now decided to NOT SELL any of the fee interests. If you  remember before, they were not going to sell any oceanfront fee interests. On the other hand, the other person who bought a few of the fee interests will consider selling his fee interests. So, if you are lucky like my #E-110 leasehold unit for sale at $215,000. You can buy the fee interest for $220,000 and turn it into fee simple.

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