Want a shorter commute?? How about upstairs to downstairs?
Live/work residences are becoming increasingly popular as more and more people start small businesses and look to save expenses.
Though the concept harkens back to days when the corner grocer lived in an apartment above the store, today?s condo hybrids allow professionals, entrepreneurs, artists and others to own a space that?s well-suited to serve both home and work needs.
Live/work residences, such as those at Kai Ani Village, offer modern, at-home work spaces specially designed to meet the needs of professionals and entrepreneurs.? In addition to providing a great street-front, business-building location, they also save the owners fuel and leased office space costs.
There?s little doubt that the live/work concept is growing.
In 2000, U.S. census found nearly 4.2 million people age 16 or older worked at home most days during the week, up from 3.4 million in 1990. ?That 23.5% increase over 10 years almost doubled the growth rate of the overall work force. ?The Census Bureau?s most recent estimate, made from community surveys conducted in 2003, raised the number of home-based workers to 4.5 million ? an increase of slightly more than 7% in only three years.
Live/work residences like those at Kai Ani Village offer prospective buyers a range of possible floor plans to help them visualize possible uses ranging from a contemporary office with reception area to a small retail shop to a service-based small business.
Kai Ani Village?s live/work units offer professionals, such as attorneys, accountants or writers, the opportunity to have offices with separate entrances on the street and their living quarters above.? Plus, the downstairs work space is easily adaptable and accessible from the street level and the garage, making it easy for residents, guests and customers to come and go.
Artists and photographers requiring studio space, salespeople and home-business owners who need a combination of work and living space, are all prime candidates for live/work residences.
One of the most common uses for a live/work space is an artist?s studio.? Artistic endeavors such as sculpture, painting and installations require large workspaces, but the artist may want to live close to the project.? A well-designed live/work space such as those in Kai Ani Village provide artists with both home amenities and the space necessary to create and store finished works securely.
In today?s economy, the number of people looking for new careers makes live/work spaces attractive options for those who may not have considered them before. ?A professional who once had an office, and has clients they still need to see, needs dedicated office space, not just a room in their home.? The hybrid units also eliminate the need to lease costly retail space for their business.
In addition, working in a vibrant neighborhood such as Kiehi, Maui, Hawaii gives business owners a new community with new clientele.? The close proximity to other small business owners also offers fresh ideas to grow a business.
But can young professionals, often cited as the likely target market for live-work condos, afford to purchase them? ?A study of affordability prepared by The Live/Work Institute, a nonprofit organization in Oakland, Calif., says yes.
An owner of a live/work unit saves money by not paying separate rents for living space and work space, as well as reducing transportation costs, according to the institute.
And with sustainable living becoming more in vogue, and with gas prices not expected to drop substantially, experts say live/work units will only grow in popularity because they combine personal living space and professional workspace in such a way that neither is compromised.
Jan 30
CO’S!
The picture is a bit fuzzy, but that is the Certificate of Occupancy for Unit 3-102 and identical documents now line the walls of all the units in Building 3 at Kai Ani Village.
Come and see us for a private tour!
Jan 30
WHAT CHANGED ON MAUI IN 2009
One of the significant developments in Maui real estate we ascertained over the last eighteen months or so is how flexible buyers have become. It used to be there were (using shorthand) Wailea people and Kapalua ™ people and North Shore people etc. Folks had already focused on a specific part of the island or a specific neighborhood or complex and wouldn't consider buying outside it. That point of view has really changed. More and more in 2009 and today potential buyers are seeking value first and are showing more flexibility the neighborhood or area they will consider. In our vernacular, buyers have become "deal hounds." For sellers this means your property is no longer just competing with the one down the street. Now you are competing with other parts of the island as well and must show a value in that context to obtain significant interest. For buyers this means your Realtors must have broader knowledge than ever before.
Jan 30
FOURTH QUARTER GDP
The first report on fourth quarter GDP came in at a robust 5.7%.
The increase in real GDP in the fourth quarter primarily reflected positive contributions from
private inventory investment, exports, and personal consumption expenditures (PCE). Imports, which
are a subtraction in the calculation of GDP, increased. The acceleration in real GDP in the fourth quarter primarily reflected an acceleration in private
inventory investment, a deceleration in imports, and an upturn in nonresidential fixed investment that
were partly offset by decelerations in federal government spending and in PCE.
private inventory investment, exports, and personal consumption expenditures (PCE). Imports, which
are a subtraction in the calculation of GDP, increased. The acceleration in real GDP in the fourth quarter primarily reflected an acceleration in private
inventory investment, a deceleration in imports, and an upturn in nonresidential fixed investment that
were partly offset by decelerations in federal government spending and in PCE.
So why didn't the financial markets respond more positively? Because 3.4% was due to declining inventories, viewed as a one time event. So most think the more useful GDP number is the 2.3% after the inventory adjustment. Not a great growth rate, but far better than earlier 2009 results.
What is the impact on Maui real estate? Not much directly, but economic growth is always good news.
Jan 26
RECENT NATIONAL DATA
There have been a couple recent reports regarding national home sales.
- Existing Homes Sales declined significantly from November to December as the Federal Tax Incentive ended
- Compared to December 2008, national home sales increased 15%.
- Sale prices increased 1.5% from last December
- Standard and Poors released their Case Shiller Index for November
- The attached chart shows that pricing seem to be stabilizing
- Nationally prices are now at late 2003 levels
In our view, most of this news is modestly positive. For details, contact us.
We are pleased to announce that Buildings Five and Twelve at Kai Ani Village are now available and for sale. These two buildings are the first Kai Ani Village condominiums to be offered in the interior of the project. As one can see from the attached rendering, these two buildings are located immediately behind Building Three which fronts South Kihei Road. Between the two buildings all four of the residential floorplans, ranging from two bedrooms of 886 square feet to three bedrooms and 1486 square feet are available and eight of the twelve units have garages.
Starting at only $359,900, Kai Ani Village remains Kihei's best condominium value.
The model unit and sales office is open every day. Come and see us!
Jan 25
KAI ANI VILLAGE CLOSINGS
We are pleased to announce units 3-108, 1-101 and 1-202 have closed.
Come and see what the savviest buyers on Maui already know.
Jan 25
BROKER CO-OP RAISED
We're pleased to announce that our co-op broker rate is now 3.0%.
Kai Ani Village is Kihei's hottest new residential condominium complex!
Jan 25
LIVING IN OLD HAWAII
In today's Wall Street Journal a wonderful article about Maui's Rice family and the ranchland they own.
Hundreds of years ago, Hawaiian kings would hand out to subordinate rulers thin slivers of land that stretched from volcano to sea. The system of rule via these plots, called ahupua'a, was abolished in the 19th century, and much of the land was split up and sold as the value of Hawaiian real estate skyrocketed. Henry Rice, a fifth-generation Hawaii native and banking dropout, lives with his wife Sandy on what real-estate agents and the Department of Land and Natural Resources say is one of the few nearly intact ahupua'a left in the islands: 10,000 acres of ranchland stretching continuously from the top of Mount Haleakala down towards the sunny beaches of Maui's south shore. Even though the Rices have sold off their beachfront lots over the years, appraisers say their ranch, named Ka'ono'ulu, is likely worth close to $50 million.
Where else but Maui do we get so lucky?
Kai Ani Village
Visit our model at
1367 South Kihei Road
in Kihei, Maui, Hawaii
Coldwell Banker Island Properties
Thomas D. Muldoon, Realtor (B)
(808) 870-9083
Have Questions? Contact Us!
Call: (808) 875-7878