Have a look at the link that shows the listing – all for only $549,000:

http://www.mauipremierrealestate.com/Results.php?StaticPageID=4afa056f5c57c&WhatAgent[]=22863&WhatSortType1=Class&WhatSortDirection1=DESC&WhatSortType2=ListPrice&WhatSortDirection2=ASC&FeaturedList=yes&PageTitle=Featured%20Maui%20Listings&Show=Full&WhatNumber=1&WhatPage=3

Call me today at 808 344 7855 for more information.

http://www.mauinews.com/page/content.detail/id/557680/Council-delays-action-on-TVR-caps.html?nav=10

This  is an important issue for anyone planning on buying a home on Maui and renting out rooms or ohanas to tourists, for any period less than a 6 month lease.

Last year’s statistics are in and show good signs that we are finding some stability in the marketplace, although the advent of more shortsales and foreclosures being released on to the market this year will most probably curtail any significant market recovery in terms of prices.

Should I use a Canadian or American Bank for a Mortgage in Hawaii?

I have many Canadian clients that want to use RBC USA for example to get their mortgage for a Hawaii purchase.  I have one that was successful, it was a long hard push to get RBC  to approve the mortgage for a second home in Hawaii.

So frankly, I still prefer the local banks because the mainland banks, even the USA based banks, are not great about lending in Hawaii.  They don’t do enough business for them to really understand the market well – appraisals, the condition of HOAs in the case of condos etc…

Also, the mainland banks don’t know the down payment requirements for each condo complex on Maui.  Some complexes vary depending on the current market or the condition of the homeowners association.  This last fact can make working with a mainland lender even harder because they simply can’t answer quickly what you need to put as a downpayment.  This can make the difference between getting a great deal and losing an opportunity because the bank can’t get you the info you need to place an offer.

Please note that many vacation rental buildings need 30% down payment, sometimes as much as 40% for Canadians, the latter is less common but it occurs nonetheless.

If you are interested in buying real estate on Maui, call me at 1 808 344 7855 and I’ll introduce you to some good mortgage brokers here that will shop around your mortgage and get you the best rates.

Mark Morris R(S)

Coldwell Banker Island Properties

I have noticed an increase in the number of Canadians at my open houses in Kihei and Wailea, and I have also met a lot of Canadians in my office in Paia, on the Northshore of Maui.

Reports are indicating that the resorts and hotels are all experiencing a higher than average reservation rate than over the past four years, so we hope we are in store for a better year economically in the islands.

Opportunities to buy real estate at a reasonable price still exist, but in some areas of the island a decrease in inventory may indicate we may see a turn in the market as supply decreases.

If you are visiting from Canada, and are looking for real estate to purchase on Maui, please contact me at 808 344 7855 or email me at MarkMorrisOnMaui@Gmail.com

As many of the followers of my blog know, I was born and raised in Canada and I love working with Canadians that are moving here to Maui!

Aloha,

Mark Morris R(S)

New proposed visas for Canadians wanting to come and stay longer in the USA may be approved soon, pending approval of the legislation by the US Congress.

The Retirement Visa will allow Canadians age 50+ to spend as much as 240 days annually in the US Sunbelt without worrying about immigration issues, plus they will be able to save a great deal of income tax to boot.

Incredibly, we are getting some action in the US Congress and some believe since it is bipartisan, and being pushed by some senior Senators, that it has a good chance of passing this time around.

The bill, S. 1746, also proposes a homeownership visa that would allow Canadians of any age to live in the US year-round and save a bundle in income taxes too. To qualify, a Canadian would need to spend at least $500,000 in acquiring a US home and other US residential property.

This visa bill will cost virtually nothing, yet it will be an incredible jobs creator while simultaneously helping Canadians reduce their taxes and enjoy a lower cost-of-living lifestyle in a warm climate, without snow!

Although Canadians will not be able to work on the retirement or homeownership visas, these visas provide a bridge to a work visa with proper immigration planning.

Don’t expect it to become law within the first quarter of 2012, unless a major obstacle is thrown at it, and it is delayed until after the 2012 US elections in November.

If you have questions or want to discuss your current options for living on Maui, call me Mark Morris R(S) at 808 344 7855 or email me at MarkMorrisOnMaui@Gmail.com

Aloha,  Mark

For more information on the new visas being proposed for Canadians, you may consult with the US State Department or read this blog post:

http://forum.keatsconnelly.com/yaf_postsm929_Text-of-S-1746-Section-5-Retiree-Visa-and-Section-8-Homeownership-Visa.aspx#929

Starting in the fall Hookipa Park will host the Maui Makani Classic, the premiere event of the American Windsurfing Tour. The Classic is sponsored in part by the County through the Office of Economic Development and the Maui Visitor’s Bureau.

“We are very pleased to help bring these sorts of sports events back to Maui because they have tremendous economic impact on the surrounding areas,” said Mayor Alan Arakawa. “And we want to remind the world why Hookipa is considered the ‘Mecca’ of windsurfing. So I encourage people to come to Maui and to see the sport at its best.”

“These are the types of events that we feel will benefit Maui County,” said Brianne Savage, OED Sports and Entertainment Specialist. “They attract hundreds of competitors and fans from all over the world.”

The Maui Makani Classic will be held during the best three days of surf and wind conditions between October 27th to November 1st.. Competing in the event are former world champions Robby Naish, Josh Stone, Kai Lenny and Kevin Pritchard.

Tour officials say they expect up to 100 competitors, some of whom have already registered for the event. To help with parking and traffic the AWT is planning to run off-site parking areas and shuttle services.

“We want this to run as smoothly as possible,” said Sam Bittner, AWT Organizer. “We are very excited about coming back to Hookipa and thankful for all the help from Maui County.”

“We look forward to once again hosting a windsurfing event on Maui,” said Terryl Vencl, MVB Executive Director. “We know the windsurfers will be thrilled to be back.”

For more information contact Brianne Savage at 270-7415 or Brianne.savage@co.maui.hi.us. You can also reach Sam Bittner at 280-4419 or log on to http://americanwindsurfingtour.com.

For more info about Living on Maui

Maui was also voted “Best U.S. Island” (formerly “Best Pacific Island”) for the 21st consecutive year.

“Maui continues to capture the hearts, minds and imaginations of visitors the world over,” said Terryl Vencl, executive director of the Maui Visitors and Convention Bureau.

Maui’s score was 92.1, ahead of Kauai, 90. Kiawah, S.C., was third among U.S. islands, 86.6. The Big Island and Oahu tied for fourth (85.8) and Lanai was sixth, 84.6.

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The event transforms Wailuku Town into a high-energy street festival from 6 to 9 p.m. on Market Street, with participation from businesses throughout Wailuku town.

Local sensation, Moth XP, headlines tonight’s festivities.  Working its multi-sensory magic on the Maui Thing stage, Moth XP uses all-original sets that take musical creation to new heights.  Their unadulterated sound is made without the use of any loops or prerecorded tracks.

Other musical entertainment includes the sweet strumming of the Kalama Intermediate School Ukulele Band, under the direction of Benny Uyetake.   The group will appear at 6 p.m. at the Wailuku Banyan Tree Park stage.

First Friday favorite, the Gene Argell band, returns for an intimate performance at Café O Lei nearby.

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An interesting article on another of the social consequences of the foreclosure crisis America is experiencing.