In the past week we have seen an island-wide burst in high-end Maui real estate activity. Wailea real estate saw a $3.3 million closing, in Wailea Point, a $4.5 million closing, in Wailea Golf Estates and nearby Maui Meadows saw a $3 million home go into escrow. Makena real estate had a $5+ million piece of vacant land go into escrow. Maui oceanfront homes participated as well with a $9 million Maluhia at Wailea home go into escrow and a Kahana home closed for $3.7 million.

A recently released piece of market research may explain why this is happening.

The Harrison Group released its Annual Survey of Affluence and Wealth in America . Here are some of its key findings:

Seventy-seven percent of the wealthiest people surveyed think real estate presents a “real opportunity” right now. In the survey, “wealthy” meant having discretionary household income of more than $500,000 a year…And these high-income earners are putting their money where their mouths are: 40% said they are in the market to acquire real estate this year…The wealthy aren’t alone in their belief that the real-estate market represents a buying opportunity: 67% of the upper-middle-class participants also agreed with that statement, as did 72% of the affluent and the super-affluent…Forty-one percent of those in the wealthy category said owning a second home was “almost a requirement” for people of their economic means, according to the survey.Thirty-three percent of the wealthiest who said they intended to buy this year are now in the market for a second home, and 25% said they are in the market for a finished third home, according to the survey…Thirty-nine percent of 552 high-level executives said they were passionate about home improvement, compared with 32% who said the same about playing golf,

This research confirms much of what we have been saying about Maui real estate, especially high-end resorts like Wailea and Kapalua and especially on the Maui oceanfront. It needs to be marketed in a way the wealthy and are accustomed to. That means high end materials and technology and a dedication to exceptional client service. In short The Leading Edge Marketing Sysytem!

To discuss this further, please contact us!