November 2019 YTD and Tenancies in Hawai‘i
November 2019 YTD
Median prices for homes, condo and land all increased vs. 2018 with median home prices at $743,000 (up 4%), condo at $515,000 (up 3%) and land at $500,000 (up 5%). While the number of recordings fell for all property types vs. 2018, West Maui District is the sole district where home, condo and land recordings increased (up 5%, up 9% and up 16%, respectively).
On Maui in real estate, we are in the start of high season, where investors, visitors and second homeowners arrive back to our island. Low inventory continues to be a factor in this market and well-priced listings go pending very quickly. Also with low inventory, we are finding multiple offers on those listings that hit the market.
Tenancies in Hawaii
When purchasing real estate in the State of Hawaiʻi, title refers to the document that lists the legal owner of that property. There are different types of ways to own real estate and here are the common ways to hold title in Hawaiʻi: joint tenancy, tenancy in common, tenants by entirety and tenant in severalty. It is always in the best interest of principals to speak to an attorney prior to deciding how to hold title in their real estate.
**This information is presented for informational purposes only. It is not our intention to to provide any legal, financial or business advice. For specific information, please consult a qualified advisor.
AVP, Strategic Business Development
Fidelity National Title & Escrow:
Reta Chin-Chiarella is a contributing writer to Maui Now. Reta’s experience in the Maui escrow/title/real estate industry dates back to 1990. Named Affiliate of the Year by the Realtors Association in 2000 and she’s also been recognized for sales awards in her career. Fidelity National Title is recognized as the leader in the industry, ranked 303 in the Fortune 500. Fidelity is the highest rated and largest title insurance company, underwriting one of three policies, nationwide. One of the offices is located at the Shops at Wailea, at 3750 Wailea Alanui, Suite 22EW in Wailea. You can Follow Reta on IG @RetaChinFidelity.
Offices of Fidelity National Title & Escrow are available in: Kahului (808) 893-0556; Lahaina (808) 661-4960; Upcountry (808) 573-0110; and Wailea (808) 891-2404.
*All information deemed reliable but not guaranteed, and should not be relied upon without independent verification. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any misprints, typographical errors, or misinformation and shall be held totally harmless. Listing(s) information is provided by the REALTORS Association of Maui Inc (C) and is for consumer’s personal, non-commercial use. Information on this site was last updated (insert publication date). This is not intended as legal or tax advice, and readers are urged to consult with the appropriate professionals to determine the accuracy of information.