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

July  1, 2015

By: Fred V. Burgart (PB)

Frederick V. Burgart, Realtor

Aloha Papakea Owners & Future Owners,

Happy 4th of July. Hope everyone is enjoying their summer. On Maui, the summer season is in full swing now with wedding parties, family reunions, and after graduation vacations. Tourism seems to be busy as ever, and the weather couldn't be more perfect. Though, I do have to say we've just had 6 straight days of record breaking heat. All  in all, it's a good  year for Maui. The annual owners meeting is just around the corner on Saturday, September 26th. Look me up  when you are here.

 

2ND  QUARTER & MID YEAR STATS

During the last 3 months we've had 2 closed sales, bringing our half-year total to 7 closed sales. Last year at this time we had only 5 sales, so we're looking a tad bit better than last year. And with another 4 units now pending in escrow, we've got even more sales in the  works. Currently there are 22 units offered for sale, which is twice as many as last year when we had so few units for sale. With more units on the market, there are more sales taking place. We'll see how the rest of the year  goes, but so far so good. Check out the enclosed 'Papakea units for sale' insert. We've got some new listings that have  never been  offered before. Another 'never before': we now have more units for sale on the  oceanfront than in the  ocean view category. 

JUNE BOARD MEETING

The Board of Director was held June 12th in the  upstairs AOAO meeting room. This meeting is normally a quiet meeting with the Board needing to pass the 2015-2016 budget.

Highlights of the Annual Owners Meeting were:

1)Treasurer's Report: The Resort Fee is bringing in WAY more money than the  Board originally thought.

2)Maintenance Dues: As most owners already know, maintenance dues dropped almost 9% for the 2015-2016 year. This helps the owners who are now paying for the  renovation  cost.

3)Board of Directors: There are 3 BOD openings to be voted on in the upcoming annual owners meeting.

4)Sink Holes: Those sink holes just keep  on happening on the oceanfront. First it  was near the 'A' building, then another one popped  up  near the  'L' building. Then just last week another one popped up near the Phase I stairway. The AOAO has spent a whopping $462,000 on the sink hole repairs.

FEE SIMPLE UPDATE: Medusky & Co who bought and now owns the 31 remaining Fee Simple interests has shown  interest in selling some of the Fee interests if any owner wants to purchase. For a short time, a leasehold owner can now put their unit on the market and say if you want to buy their unit in Fee Simple, then the buyer could have that option. What Medusky is not going to sell are any  OCEANFRONT FEE INTERESTS. So, the oceanfront leasehold owners, like #F-204 which is currently on the market, won't have the Fee Simple option for any new buyers. As for the Fee price, the owners must contact Medusky to see what the Fee price is.

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