Realtors Locally and Nationwide Step Up to Support Maui's Survivors
The president-elect of the Realtors Association of Maui estimates about 40 to 50 agents lost their homes and possessions, and one is reported missing.
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The president-elect of the Realtors Association of Maui estimates about 40 to 50 agents lost their homes and possessions, and one is reported missing.
The development company that used low-income housing tax credits to build the 89-unit apartment building hopes to rebuild.
“Our buyer pool is very low, but when I look at the sales, I’d say more than half are cash,” says the president of the Kauaʻi Board of Realtors.
Hawai‘i Island’s overall median price has been relatively steady this year, but the lowest priced deals – including many inexpensive vacant lots – can often be found in Puna.
That’s based on sales of condos and single-family homes during the first quarter of 2023.
Japanese buyers have been mostly absent from the high-end market since the pandemic started, but many mainlanders, and some locals, are showing interest.
The average rent for a studio apartment on O‘ahu last year was up 25% from 2017 and larger rentals were up, too, by at least 17%.
Kamehameha Schools is planning 15,500 new homes in the areas, but it could take decades to become a reality.
Homeowners are guaranteed a tax break on capital gains up to a fixed amount, while owners of investment properties can defer those gains using a 1031 exchange. But “timing is important” for the strategy to work, says Julie Bratton of Old Republic Exchange Co.
Hawaiʻi Community Foundation’s Maui Strong Fund provides community resilience with resources for disaster preparedness, response & recovery. Funds donated will be used to support communities directly affected by the Maui wildfires.
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