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Maui Unites Against Predatory Property Investors: Real Estate Reptiles Are On the Prowl After Devastating Wildfire Disaster
In the wake of the devastating loss of homes and lives in Lahaina, the community faces a new challenge: opportunistic real estate investors seeking to capitalize on the tragedy.
Devastated Homeowners, Bait for Investing Predators
Local families, still reeling from their losses, have taken to social media to share their experiences.
Among the heart-wrenching stories, reports have emerged of real estate developers cold-calling victims with offers to buy their properties.
These actions have not come as a shock to those already grappling with Hawaii’s housing crisis.
Sterling Higa, Executive Director of Housing Hawaii’s Future, expressed concern for the victims, stating, “These displaced families are in an incredibly vulnerable position.
Predatory investors are seizing this opportunity to offer money for their land. In their desperate situation, these offers can be alluring.”
Governmental Intervention
Governor Josh Green addressed the issue in a recent press conference, vowing to invest state resources to preserve the land for local people.
He emphasized the need to act deliberately during the crisis, stating, “I will try to allow no one from outside our state to buy any land until we get through this crisis and decide what it should be in the future.”
Despite the Governor’s commitment, the solution requires a collective effort. Higa added, “What there has to be to prevent that from happening is assistance from nonprofits and the government to ensure that all of the needs of these families are met.
That requires a swift response by our nonprofits and our government to prevent that.”
What is the median Maui home price in 2023?
The median home price in Maui has seen fluctuations throughout 2023.
In May 2023, the median sale price for a single-family home was $1,330,000.
In March 2023, the median home price was $1,200,000, while in June 2023, the median sale price of a home in Maui County was $999,000. In July 2023, the median listing home price in Maui was $1.4 million.
It is important to note that these figures may vary depending on the source and the specific area within Maui being considered.
To provide a comprehensive answer, as of August 2023, the most recent median home price data available is from July 2023, with a median listing home price of $1.4 million.
Keep in mind that these numbers can change over time, and it is always a good idea to consult the latest market reports for the most up-to-date information.
Protecting and Serving in the Face of Unthinkable Tragedy
The situation in Maui serves as a stark reminder of the complex challenges that arise in the aftermath of a disaster.
As the community comes together to heal, the focus remains on protecting those most vulnerable from further exploitation.
The collaboration between government officials, nonprofits, and community partners will be essential in safeguarding the interests of the displaced residents and preserving the integrity of the local community.
