April, 2010
Aloha from Maui!
This gorgeous spring has brought new energy to the resort. Visitors and residents have been using the new Kapalua Spa fitness facilities, and I see people out enjoying the trail systems every day. The whale watching has been incredible, as has our weather.
In an effort to keep you better informed on the market here in Kapalua, I've added a new section to the website:
Real Estate Reports.
The real estate reports posted examine real estate activity from 2000-2009 for the entire resort. I've also broken down the sales activity for each market segment, so if your interest is condominiums, homes, or land, you can view the market trends for the past decade. Look for reports for each neighborhood to be added over the next few months.
Surprisingly, activity in the 2009 resort real estate market was on par with 2008 in terms of the number of sales and average price. However, it should be noted that the high end closings of the Ritz-Carlton Residences and the Mahana Estates would affect those averages.
Here are some highlights of the MLS activity in the Kapalua Resort looking back from the beginning of January 2010 to April, 11 2010:
- Active Listings: There are a total of 134 active listings in the resort, ranging from $483,000 to $22,500,000. This compares with February 2010, with 144 listings in a fairly similar price range.
- Short Sales/REO's: There are five potential short sale listings noted in MLS, a Ridge Villa, a Golf Villa, and four Bay Villas, compared with only two in February, 2010. There is only one REO (bank owned) listing, a lot in Honolua Ridge.
- New Development Sales: There are no new development sales to report. Developer inventory is still available at the Ritz-Carlton Residences, Kapalua Bay.
- Escrows: There are two pending sales in the Kapalua Resort.
- Recent Closings: we have had 9 closings which were all condominiums.
| MLS # | Building | Unit | Original Price | List Price | Sold Price | Closing Date | Beds | Baths | Liv-SF | Days On Market |
| 334037 | Kapalua Ironwoods | 53 | $3,549,000 | $2,490,000 | $1,950,000 | 1/7/2010 | 2 | 3.00 | 1998 | 447 |
| 331610 | Kapalua Golf Villas | 16V1 | $749,000 | $529,000 | $457,500 | 1/12/2010 | 1 | 1.50 | 899 | 600 |
| 324755 | Kapalua Golf Villas | 14P5,6 | $1,100,000 | $650,000 | $600,000 | 1/22/2010 | 2 | 2.00 | 1344 | 966 |
| 341361 | Residences on Kapalua Bay | 2602 | $3,600,000 | $3,600,000 | $3,600,000 | 1/28/2010 | 3 | 3.50 | 2904 | 24 |
| 335127 | Kapalua Golf Villas | 14P7,8 | $1,245,000 | $935,000 | $840,000 | 1/29/2010 | 2 | 2.00 | 1344 | 408 |
| 340700 | Kapalua Golf Villas | 21P1,2 | $750,000 | $750,000 | $625,000 | 3/17/2010 | 2 | 2.00 | 1344 | 91 |
| 339894 | Kapalua Ironwoods | 23 | $3,775,000 | $3,775,000 | $3,200,000 | 3/25/2010 | 2 | 3.00 | 2176 | 155 |
| 339381 | Kapalua Golf Villas | 20P1&2 | $599,000 | $550,000 | $507,500 | 3/25/2010 | 2 | 2.00 | 1440 | 195 |
| 340281 | Kapalua Ridge | 2323-24 | $995,000 | $995,000 | $950,000 | 4/5/2010 | 2 | 3.00 | 1756 | 139 |
- 2010 vs. 2009 YTD: We have had 9 closings in 2010 at the time of this posting, all condominiums. The average sale price is $1,586,000, ranging from a low of $457,500 to a high of $3,600,000. By comparison, we had 3 closings in 2009, with an average sale price of $2,088,333, ranging from a low of $620,000 to a high of $2,350,000.
Thank you for making this your resource for news in Kapalua and on Maui. Please forward the link www.luxuryrealestatemaui.com/newsletter.asp to a friend or associate that might appreciate this information.
Each month, along with local event updates, you will find sales statistics for the entire island posted to Courtney's Blog, as prepared by the Realtor's Association of Maui. Annual and Monthly Statistics can be found on the Market Reports section. Gerard's Maui is the current contributor to Local Flavors with their delicious Roasted Opakapaka. Enjoy!
Aloha,