Here is a great article on why land in Maui, and Hawaii real estate in general, is such a great, stable investment in these uncertain economic times:With home prices faltering nationwide, many are still waiting to see how much lower prices will go before 'taking the plunge.' While this may be a good approach for some, the savvy real estate investor knows right now is as good a time as any to take that plunge. Especially when dealing with homes in Maui! While it's true that real estate prices have taken a nose dive in many parts of the nation, land in Maui has proven to be highly resistant to the economic downturns of the 80's and 90's, as well as today. Why? Simple; The island of Maui is paradise, making real estate on Maui a delicious slice! Where else in the world can you find top ranked beaches, breath taking views, and wonderful people most everywhere you look?
Some may believe that real estate in Maui is a bit expensive, and, depending upon your definition, in some places it can be. However, this thought only appears when looking at some properties and their up front costs; look into their long term value (LTV) and you'll find even the "expensive" properties are a steal right now! After all, there is only so much inventory available on an island like Maui, with the best properties snapped up almost immediately, and the occasional diamonds in the rough obtained by discerning buyers.
You may be wondering, what exactly constitutes long term value? Well, there are quite a few variables that determines LTV with most, if not all, dependant on highly personal preferences. A few examples that come to mind:
- Maui property as a vacation home: If you're one of the millions that visit the islands every year, why not buy or build a vacation home in Maui for those times when you want to just "get away from it all?" As an added plus you can also use it as . . .
- An added revenue stream: When you're not vacationing in Maui, why not share your beautiful Maui vacation home with other individuals keen on experiencing paradise, while recouping some, if not all, of your home's initial cost! Once you're satisfied with your initial return on investment, you'll be in a prime position to use you Maui vacation home as . . .
- Your dream retirement home: When you're ready to slow down a bit and vacation on a full time basis, where better than the island of Maui to settle in and enjoy life!
Of course you may decide to purchase one or more investment properties on Maui during this time, and maybe you would like to get a bit of cash in hand for other things. Well, selling your property at the right time will typically net you a handsome ROI. As with all real estate markets, Maui has it's peaks and valleys, though the latter are typically more akin to gently rolling hills; prices usually dip slightly but stay steady during "cool" periods, while strongly rising when the market is "hot." This is especially true for the South, West, and Upcountry areas (as an example, property values for Upcountry Maui went up 2 months in a row, in both May and June of 2009, for a combined 11% increase!)
These are just a few of the many great reasons to purchase an investment property in Maui today; especially the incredibly priced 15800 Haleakala Hwy!
J. C. - Mauicc@Hotmail.com