January 1, 2017
By: Fred V. Burgart (PB)
Frederick V. Burgart, Realtor
Aloha Papakea Owners & Future Owners,
Happy New Year!! I hope everyone enjoyed your Christmas
and New Year's family time. Maui was packed as usual,
but the weather was simply awful. Time and time again
all the 'regulars' were commenting that is was the worst
weather in a long time. (Last year they were saying it
was the best ever!). Tourism is busy as ever and
occupancies are looking stronger than ever. Year 2016
will be another record breaking high for tourism. Maui
has made it's mark as the most desirable island in
Hawaii and luckily we are here to enjoy it. Hope you can
make it to Maui this year.
4TH QUARTER SALES AND YEAR END SALES STATS
The 2016 year finished off with a blazing 8 closed sales
in the last quarter, bringing us up to 26 closed sales
for the year. In 2015, we ended up with 15 closed
sales, so we are beating last year by far. In 2014, just
a couple of years ago we had just 8 sales for the whole
year. The lowest priced sale was ocean view 1BR #E-109 @
$192,000 leasehold. The highest sale was oceanfront
corner unit #F-408 @ $826,800 (FS). The 26 total sales
volume was a little over 12 million dollars invested in
We currently have 19 units for sale, which is where our
inventory has been hovering. We do have 4 units now
pending which will be our first sales for 2017. If you
look at the apartments for sale insert, you'll see a few
empty categories, and now a single studio being offered
for sale. On the other hand, the ocean view 2BR category
is loaded with 7 units for sale. We finally saw some
oceanfront 1BR sales, with #F-105 selling at $620,000
(FS) a new high. The ocean view category remains the
I usually report on the December Board of Director
meeting but the Board has decided to eliminate on of the
Board meetings for the year.
The only real pending issue is the continuing emergency
seawall repair which is in its final area near the Phase
II shuffleboard courts. 'F' building is finally finished
and the sod is being laid out to finish that section.
I started out the year with 7 listings and ended up
selling most of them. This year I start out with my new
listing, 2nd floor, oceanview 1BR #D-204 @ $489,000
(FS). It's the best buy out there for ocean view and
tropical courtyard location.
Have a Prosperous 2017 year!
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,