A conversation with Billy Jalbert, Principal Broker / Owner, The Maui Real Estate Team, Inc.

Maui is a truly spectacular vacation destination and is often voted the “best island” in the world.  What many people do not realize is that Maui is a pretty big island and that there are a multitude of communities and climates to suit most types.  Rather than try to extol the virtues of Maui as a whole, I opted to introduce you to one of the lesser known communities, Pa’ia where I live and work.

 

 

 

 

 

Our Town

Pa’ia is a small yet bustling cosmopolitan community on the formerly sleepy north shore of Maui.  With a population of over 2,700 full time residents, the best way to describe Pai’a is a small town with a lot going on!  In its heyday, Pa’ia was one of the larger plantation towns in Maui’s sugar cane and pineapple era.

 

 

After being left off of the county’s and developers’ plans for major resorts in the 60’s and 70’s, Pa’ia has increasingly captured the interest and the attention of savvy travelers and people relocating to Maui in search of a different lifestyle.  Pa’ia is a beachfront town that is 10 minutes from the airport, 35 minutes to south Maui’s resorts and beaches close to the world famous surf spot Jaws.  It is also home to a world Famous restaurant, Mama’s Fish House.

The People

Pa’ia is an eclectic mix of part-timers, locals, professional water sports athletes and enthusiasts alike, transplants, artists, hippies, California and Silicon Valley refugees and other interesting people from all over the world. Spend 30 minutes in one of Pa’ia’s cafes or restaurants and you are likely to hear several different languages including German, Spanish, Italian, French, Japanese…and a really strange one: English.

What makes Pa’ia so attractive to so many different people?  Aside from the aesthetic pleasures of old plantation charm, swaying palm trees and a delightful climate, Pa’ia has become a mecca for ocean sports such as windsurfing, kite-boarding, stand-up paddling (SUP), surfing and outrigger canoe paddling.  Add in a few world-class art galleries, the most laidback country club in the world, some excellent restaurants, very good school options in the area and a lot of diversity and you have a recipe for a really interesting and fun place to live.

Education / The Schools

Many transplants with school age children find Pa’ia desirable because there are so many school options within striking distance.  Pa’ia elementary school, which is 50% Hawaiian immersion, has become one of the better public elementary schools on Maui. There is also an excellent Montessori school, a Waldorf school and a Carden Academy in neighboring towns.  Dorris Todd is a Christian school and Seabury Hall (grades 6 through 12) is one of the best private schools in the Pacific.

Maui Economy and Pa’ia Real Estate Prices

Maui was not immune to the recession or housing crisis.  Prices have dropped island-wide anywhere from 15% to 50% from the peak, depending on the neighborhood and location.  Pa’ia has been impacted less then many other parts of the island with prices down anywhere from 15% to 25%–again depending on location, with oceanfront estates being a bit of an exception.

 

In fact, 2011 featured the highest sales price on the Pa’ia oceanfront, at $9.6 million for a fabulous estate on 1.3 acres with two homes, a beautiful pool and spectacular landscaping and views.  Median and average prices are up since the depths of the recession, however, our community is small enough that some higher end sales on the oceanfront have skewed the numbers a bit.  In Pa’ia there are homes currently priced anywhere from a little over $200,000 for a fixer upper to $14 million for an oceanfront estate.  Median prices for starter homes and moderately priced homes remain substantially below peak prices.

It is possible that we may begin to see some price stability in 2012 depending on how the European debt crisis and the US economy play out, however, we do not expect much in the way of appreciation for the forseeable future.  With prices significantly off their highs, record low interest rates and a long-term time horizon, it is at a minimum, a good time to be looking.
Words of Wisdom

If you are looking for a home in Pa’ia or considering relocating to Maui, it is important to find an experienced, proactive, professional Realtor who will put your interests first and will help guide you through the process.

I bring a different approach to the real estate business, and remain a small boutique brokerage with only a few agents because I only want to work with professional, ethical agents who always put our client’s interests first.  As an example, rather than going for the quick sale, we often recommend that prospective buyers rent for a period of months before they buy so that they can understand if living on Maui is the right thing for them.  Moving to Maui is a life changing decision.  Making sure it is the right decision is just as important as choosing the right property.

My Story

I started my career at IBM nearly 25 years ago. After getting hit by an 18-wheeler while I was on a business trip I realized I wanted to do something more entrepreneurial.  When an opportunity to move to Silicon Valley arose, the next week I jumped! I was the CEO of a professional service firm headquartered in Silicon Valley before I sold the business and moved to Maui with my wife. I became a Realtor a decade ago and continue to love and learn every day.  My wife and I have expanded our family with two kids, two dogs and a cat and we couldn’t be happier or feel more fortunate.

Personal Experience

One of my favorite stories is about a couple I met over the Internet 9 years ago. They had always dreamed of leaving the Midwest and moving to Maui.  They literally bought a beautiful home from me sight unseen (other than the photos I took of the home and the neighborhood and description).  I am friends with Carol on Facebook and follow her posts. She and her husband are literally the poster children for living and enjoying life on Maui.  They didn’t come to Maui with a fistful of money.  All they brought was their mid-western work ethic and a passion to live the Maui lifestyle.  I saw them last weekend and they are two of the happiest people I have ever met, and they look younger than they did when they moved here.

 

Realtors and Technology

My goal as the owner of The Maui Real Estate Team is to utilize technology to make the process of buying and selling property on Maui easier for our clients.  Our website, www.mauirealestate.com receives many accolades for its user friendliness and the depth of information that we provide.  In fact, our blog is the probably the most active and long running blog about Maui Real Estate there is.  My brother, Pete, who is an outstanding Realtor and writer is the chief author and editor of the Maui Real Estate Blog.  We utilize the latest social media such as Twitter, Facebook, Linked-In, Google + and listing syndication. We utilize professional photography for our listings and are now also using video where appropriate.  The technology landscape and real estate landscape are rapidly evolving and our philosophy is if we don’t eat change for breakfast, someone else may soon be eating our lunch!

The Maui Real Estate Team, Inc.

The Maui Real Estate Team is fanatically focused on providing a dramatically different and better experience to our real estate clients.  Billy and Pete Jalbert and Martin Lenny bring years of experience and a love for Maui to our business.  We have helped clients buy and sell hundreds of millions of dollars worth of real estate all over the island.  We would be honored to help you as well.

 

 

 

 

 

Contact Billy:

The Maui Real Estate Team, Inc.
71 Baldwin Ave. Suite 6b
Pa’ia, HI  96779
Billy@mauirealestate.com
Ph. 808-283-6377
Toll Free Fax:  866-906-1092
www.MauiRealEstate.com