Barron's: Maui still a hot 'second home' locale

By Howard Dicus - bio | email

HONOLULU and NEW YORK (HawaiiNewsNow) - Hawaii's home prices, sturdier than most on the mainland and especially in the luxury neighborhoods, have gotten the attention of Barron's.

The New York-based financial magazine has put Sea Island, Ga., and Maui in the top two positions of its second annual Top Second Home Communities list.

"After two down years, sales are gaining strength in the serene and lovely towns of Wailea and Makena," the magazine said Monday. "

One of the best values is Makena Place, a gated community of just 10 homes on five acres at the ocean's edge. You'll get outstanding views of the Pacific Getting to truly sandy beaches requires a five-minute walk, so remember to pack the flip-flops."

Barron's said sales volumes in Wailea and Makena, on Maui's southern coast beyond Kihei, rose 35% in 2010 and total dollar volume of sales more than doubled. The median home price in that area is $1.7 million but several listings - 53 at last count - range from $5 million to $22 million.

These are properties selling not to locals but to mainland residents - people who call slippas "flip-flops."

And what second home destinations will be Maui be competing with this year. The Barron's list also includes the Hamptons, Tahoe, Aspen and Palm Beach. In these places as well as on Maui, Barron's asserts that the bottom of the market has arrived or passed, so luxury homes will cost more later than they do now.

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