Question: I hear the high-end sector is not doing very well in Hawaii. I have a home in Kihei and I fear that now would be terrible time to sell. Is that true?Answer: Much is being said that the real estate market nationwide is on a downturn and lack of inventory continues to frustrate prospective Buyers. However, local real estate trends can be significantly different than general trends, hence it's always best to look at a granular level to see how the micro-market is acting. So with that, let's discuss:Single-Family Homes - The term 'high-end' can have various definitions, particularly in a market like Maui where homes can go north of $20M but which are few and far between. As such, for the sake of this analysis, we are looking at $1M as the marker for high-end homes. In 2018 through the end of August, there were a total of 15 sales in Kihei over one million USD, median price of $1.36M and median price per square foot of $579. The previous year the number of sales YTD was 17, hence the 2018 looked like the high-end sector was holding steady. Of course, this included the mega sale of 3190 South Kihei Rd for $22.8M. However, compare that to the same time frame of the current 2019, there have been a total of 30 sales over a million, median price of $1.205M and median price per square foot of $489.04.  2018 Sales: Closing Date Sold Price Address Subdivision PrcSqft Sale Terms Year Built Land SQFT 2/1/2018 $1,050,000.00 10 Hui Kelu Way Kamaole Heights $443.41 Cash 2012 10115 6/25/2018 $1,059,000.00 228 Kamakoi Loop Keonekai Estates $482.02 Conventional 1991 7688 3/29/2018 $1,085,000.00 45 Laukahi St Moana Estates $500.46 Cash 2007 8002 2/20/2018 $1,125,000.00 111 Hoohale St Kilohana Ridge $613.08 Conventional 2003 8028 6/27/2018 $1,150,000.00 1557 Halama St   $481.98 Conventional 1977 9165 3/2/2018 $1,235,000.00 66 Hoohale St Kilohana Ridge $659.02 Cash 2003 7623 5/8/2018 $1,250,000.00 232 Kamakoi Loop Keonekai Estates $455.21 Conventional 1994 7989 3/29/2018 $1,360,000.00 54 Ahekolo St Kilohana Ridge $725.72 Conventional 2003 9056 8/3/2018 $1,560,000.00 2656 Moolio Pl Pacific Terrace $499.20 Conventional 2001 10799 8/29/2018 $1,650,000.00 18 HOOHALE St Kilohana Ridge $662.65 Conventional 2003 8120 4/24/2018 $1,698,000.00 144 Hoolapa St Kilohana Waena $579.52 Conventional 2017 7536 1/26/2018 $1,725,000.00 1463 Halama St Halama Street $905.04 Cash 1954 14549 4/12/2018 $1,750,000.00 130 Hokai Pl Kilohana Hema $569.29 Cash 2016 7893 6/5/2018 $4,744,000.00 1710 Halama St   $1,463.75 Conventional 1956 19968 2/2/2018 $22,800,000.00 3190 S Kihei Rd WAILEA $3,110.08 Mortgage Not Assumable 2015 31124 2019 Sales: Closing Date Sold Price Address Subdivision PrcSqft Sale Terms Year Built Land SQFT 3/21/2019 $1,000,000.00 11 Hoolalei Way Keala Hills $408.16 Conventional 1999 10611 2/8/2019 $1,025,000.00 2595 Mikoi Pl Keonekai Heights $537.78 Conventional 1994 7536 4/29/2019 $1,040,000.00 2575 Hunakai St Keonekai Heights $323.79 Conventional 1988 8512 1/25/2019 $1,050,000.00 2734 Kauhale St Keonekai South $503.84 Conventional 1983 7910 8/22/2019 $1,070,000.00 148 Moana Ave Moana Estates $435.67 Cash 2013 7924 8/5/2019 $1,080,000.00 266 Alaume St Kihei Village $567.82 Cash 1989 7640 8/1/2019 $1,085,000.00 27 Laukahi St Moana Estates $580.84 Conventional 2007 7671 8/9/2019 $1,100,000.00 62 Honuhula St   $382.88 1031 Exchange 2014 7505 2/4/2019 $1,109,000.00 144 Walua Pl Kamaole Heights $496.42 Conventional 1999 11256 8/27/2019 $1,125,000.00 95 Honuhula Pl Honu Alahele $401.07 Conventional 2014 7453 2/6/2019 $1,130,000.00 75 Ponana St Keawakapu Views $592.24 Conventional 1997 7845 8/20/2019 $1,150,000.00 30 Kaikane Pl   $296.54 Conventional 2003 10001 8/14/2019 $1,165,125.00 106 Laukahi St Moana Estates $453.00 Cash 2007 8638 1/10/2019 $1,185,000.00 90 Moana Ave Moana Estates $467.64 Cash 2006 9723 5/14/2019 $1,200,000.00 153 Hokai Pl Kilohana Hema $398.01 Conventional 2004 8172 6/5/2019 $1,210,000.00 69 Laukahi St Moana Estates $446.99 Conventional 2007 7553 5/10/2019 $1,219,000.00 99 Laukahi St Moana Estates $450.31 Conventional 2007 7540 3/15/2019 $1,235,000.00 63 Laukahi St Moana Estates $502.85 Conventional 2007 8708 2/22/2019 $1,250,000.00 11 Luanaiki Pl Keonekai Heights $372.02 Adjustable Mortgage 1988 7610 6/25/2019 $1,260,000.00 94 Laukahi St Moana Estates $481.65 Conventional 2007 7876 8/5/2019 $1,350,000.00 11 Hoohale St Kilohana Ridge $760.14 Conventional 2003 7884 3/11/2019 $1,350,000.00 88 Honuhula St   $371.29 Cash 2013 7510 3/14/2019 $1,375,000.00 182 Ponana St Keawakapu Views $658.52 Cash 2018 7518 8/30/2019 $1,375,000.00 154 Ahekolo Pl   $637.46 Cash 2003 8891 6/24/2019 $1,395,000.00 126 Hoohale St Kilohana Ridge $744.40 Cash 2003 8324 4/2/2019 $1,425,000.00 2776 Kauhale St Kauhale Kai Subdivision $342.71 Conventional 2003 8067 3/11/2019 $1,425,000.00 147 Hoohale St Kilohana Ridge $582.35 Cash 2003 7989 1/2/2019 $1,500,000.00 60 Moana Ave Moana Estates $554.12 Conventional 2007 8242 2/11/2019 $1,650,000.00 131 Ponana St Keawakapu Views $643.53 Conventional 2016 7514 6/4/2019 $13,950,000.00 3032 S Kihei Rd Keawakapu $3,598.14 Cash 1958 23823 It is interesting to note that of the 2018 sales, 5 were cash transactions (33 of the total), whereas in 2019, 10 were also cash (33 of the total again). In the past, the Maui luxury real estate sector has been dominated by cash sales, so it's interesting to note that financing is becoming so prevalent. Featuring 1104 Kahaapo Loop, one of the most spectacular homes in Kihei. With nearly 4,000 square feet of interior living space, a resort-style pool with cabana, and an ideal central location, this is one of the strongest values in the Kihei real estate market today. *  Note: For the sake of this analysis, we only included Kihei, not Wailea, Makena and/or Maui Meadows - although those are part of the same 'city' of Kihei, the mechanics of the market function much different and it provides a more meaningful insight to look at the granular level of Kihei as a district.Whether you are thinking of buying or selling a Kihei luxury home, we humbly ask for your consideration. With decades of combined experience serving the South Maui market, with an emphasis on the high-end spectrum, we are uniquely positioned to assist clients.