A: Prices for ocean-front homes and ocean-side raw land rose in 2000 and 2001, as the "dot-commers" from Silicon Valley and the foreign investors bought up oceanfront that had sat on the market at low prices for years during Hawaii's long recession in the 1990's. By 2004, people couldn't believe their eyes at the prices advertised and how fast land sold not only by the sea but everywhere on Maui.
Suburban homes, raw land in the country, and retail space all rose in value. By 2008, old hands in the market were feeling nervous as prices for land/condos/home went through the stratosphere. Every seven to ten years is a boom/crash cycle here in real estate. Sure enough, it happened. Now there are foreclosures and problems for landowners who have property that is worth much less than they paid for it. However, although there is a lot of land on the market, and big landowners from the plantations for pineapple and sugar are selling hundreds of acres, the process seems to be turning back to the "buy" cycle after a couple of years of "sell."
Like all real estate, and like the stock market, there are cycles. Currently Hawaii is being perceived as a "safe place" to live, bring up your family, and retire; so there is sustained interest in Maui homes and land.
Q: What sizes are the bigger ranches on Maui?
A: They range in size from approximately 5000 acres to 30,000 acres. There are not only cattle operations. Elk, strawberries, vineyards, sheep, native plants, eco-tourism and other operations are part of ranch-life on some Maui ranches. Cattle ranching is still predominant, however. In the old days, cattle were taken by sea to market. Led by cowboys, the cattle swam out to the waiting boats. Nowadays, both boat and airplane are used. The boats now pull up to a wharf and the cattle are taken by truck right to the wharf.
Q: If I bought land on Maui, what kind of lifestyle would I find?
A: Whatever you want. If you like a very rural and isolated life, there's a lot of open country. If you like a cosmopolitan cultures, welcome. Hawaiian, Portuguese, Caucasian ("haole"), Korean, Chinese, Japanese, Hispanic, Vietnamese, African-American, Thai, Laotian, European...they're all here.
There's a large cultural center with state-of-the-art movies, travelling art shows and ballet and concerts, rock stars who want to come to Maui to perform and catch some rays, and classes and cultural events. There are theaters, a symphony, local restaurants with island-style food ("kau kau"), private prep schools and public schools, a local community college where you can get a 4-year degree, destination spots for tourists with high-end dining facilities and spas, golf courses all around the island, beaches of course, hiking, surfing, windsurfing, kiting, swimming, soccer teams, you name it sportswise. There are nightclubs and churches, shopping centers and small local mom-and-pop stores, box retailers and swap meets. The lifestyle is fairly laid back, although traffic jams are becoming commonplace at rush hour. Many of the new jobs are in tourism and the high-tech industry. Come take a look for yourself!
Q: What's the weather like in Hawaii?
A: Check it out.
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