Launiupoko, Maui Real Estate Market Update

160 Paia Pohaku Street SOLD! Closed on May 6, 2014 for $1,681,500. Highest Price for a cottage (no main house)  with build-able lot sold since 2011 in ! We were the listing agents (Jeannie Kong and Heleena Oliveira) who got it sold! It went under contract after just 2 weeks of coming on the market and sold in 45 days.
For more details click here MLS 360025.

160 Paia Pohaku SOLD for highest price in cottage with vacant land  in Lahaina, Maui, Hawaii

160 Paia Pohaku For sale in Lahaina, Maui, Hawaii

Here is the website: http://160paiapohaku.greatluxuryestate.com/

Launiupoko is one of the hottest areas to buy and build a home on Maui. Offering spectacular ocean views and land to spread out, it is not wonder why many people find it desirable. Just down the hill is a great surf break for surfers, SUP, and beach  bar be ques!

Here is a up to date market summary on residential homes in Launiupoko.

Launiupoko homes sold -NON Cpr'd property

Launiupoko homes sold -NON Cpr’d property

Launiupoko, non cpr'd properties currently active and pending in escrow

Launiupoko, non cpr’d properties currently active and pending in escrow

What is a CPR’d and non CPR’d property. Generally speaking and in the most simplest of terms. CPR is an acronym for “Condominium Property Regime”. Non CPR’d property is property left intact from when it was first sold from developer or seller; it has not been CPR’d.

1)  What does the term “CPR” mean- sometimes called “Residential Condos”.
Subdividing property can be challenging and difficult. In order to subdivide you may have to go through many requirements  with County, State and maybe even Federal Dept.  Such requirements are but not limited to:  water pressure, fire hydrant pressure, street width, etc. Therefore some  property owners are choosing to “CPR”  their residential property, allowing them to build more than one home and selling them off individually. To put it simply,  you’re creating a single family condominium project.

For a legal definition go here:

Click to access 514B-CPR.pdf

In order to CPR the property, you would first consider the size of lot and zoning of the property. If you have a suitable lot size that allows for more than one dwelling, then check your CC & R’s. (covenants, conditions and restrictions) to see if there are any non-governmental restrictions.  It things look doable, then consult with a CPR attorney for a professional opinion. It is highly recommended that you hire an experienced CPR attorney to get you started.

Launiupoko Cpr'd properties sold and pending

Launiupoko Cpr’d properties sold and pending

Launiupoko,  currently active CPR'd properties only

Launiupoko, currently active CPR’d properties only

What makes Launiupoko, Maui  so wonderful? Sweeping Ocean Views! Lots of land! and right near surf breaks! Watch the video here:

 

 

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