In December, the US and China completed a bilateral agreement that allows Chinese Nationals to come to the US expressly for leisure travel.

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In the first quarter of 2008, four homes sold in Maui Meadows. The median sale price of $1.149 million was 8% below full year 2007 results. The per square foot average, the better measure in our opinion, of $572 was 10% higher that 2007. However, three of the homes which sold were 2000 square feet or smaller and those homes typically receive higher per square foot values in Maui Meadows. At the moment, tow other homes are in escrow in Maui Meadows and over 30 homes are for sale. For details, contact us.

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In the first quarter of 2008, fives homes sold in Wailea and Makena compared to only eleven in the same period last year. Sales occurred in Wailea Kai, Wailea Fairway Estates and Kialoa. The median sale price of $1.65 million was considerably lower than the 2007 median. Much of that is due to the lack of sales in Golf Estates, Golf Vistas and Wailea Highlands. The per square foot average, the better measure in our opinion of $766 increased 5% over full year 2007 levels. While making price assessments based on so few data points is a risky proposition, price pressure is nothing like what the worst parts of the mainland have seen. Another six homes are in escrow and approximately 50 are for sale.

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For the most recent issue of Coldwell Banker's proprietary magazine Maui, a Property Portfolio, we were asked to write an article on South Maui new developments. It appears on page 82 of the magazine. In the article are brief descriptions of Houna'ula, Maluaka, The Bluffs at Wailea and several other new developments. When considering Maui real estate, one should always be cognizant of upcoming projects. For more details on new projects across Maui, please contact us.