Many buyers ask us about the frequency of foreclosures etc on Maui and how it impacts Maui real estate in general and Wailea real estate specifically. Our answer has been that while they occur from time to time on Maui and in Wailea, it just isn't having a significant impact. In today's Honolulu Advertiser an article provides some quantifiable Hwaii-wide data supporting our views.

There were 120 Hawai'i foreclosure-related filings in March, up 85 percent from 65 filings in the same month last year, according to California-based real estate research firm RealtyTrac. The filings amounted to one for every 4,167 households, which gave Hawai'i the sixth-lowest foreclosure rate by state. The ranking was an improvement from February when Hawai'i had the eighth-lowest foreclosure rate. Nationally, there was one foreclosure action per 538 households, or a total of 234,685 that represented a 57 percent increase over March 2007…Hawai'i's housing market broadly has maintained relatively low foreclosures thanks to mostly stable home prices, a strong economy, low unemployment and rising personal income. Local lenders also say borrowers generally were more conservative and didn't take out as many of the riskier loans as in some Mainland markets.

To discuss this further, please contact us.