April, 2008

Aloha,

I hope this finds you well~it has been a gorgeous spring here in on Maui: sunny days and incredible whale watching. On a personal note, I am excited to be taking my parents to the Jazz Festival in New Orleans, and will be out of the office from 4/28-5/6. In my absence, my colleague, Rob Shelton, will be available to assist you with any questions or for showings. Rob can be reached at 808-281-4024. Please feel free to send me an email as well, as I will be checking it periodically.
To update you on the Resort, the sales event for the Residential Suites at the Ritz-Carlton was held on March 15, 2008. That day, 93 of the 107 one and two bedroom whole ownership suites priced from $895,000-6.4 million were selected. The Hawaii market is becoming a value to international buyers, with a reported 40% of the purchasers from Japan, Canada and Europe. The next development planned for the Resort is the Central Village at Kapalua. Given your previous interest in Maui and the Kapalua Resort, please let me know if you would like me to keep you updated on this proposed development.
The market continues to be varied, with some reductions at the lower end of the Villas market. Pricing now starts at $699,000 for a one bedroom Golf Villa and up to $2,695,000 for a two bedroom Bay Villa. The Coconut Grove continues to be a very desirable and sought after location. There are two new Coconut Grove units at asking prices of $5,500,000 and $5,600,000. These are not in the MLS system, so please call me with any questions or for photos and additional information.
In resort news, tickets are now on sale for the 2008 Food and Wine Festival. The longest running festival of its kind in Hawaii (27 years), this four day event will be held from June 26 to June 29, 2008. Last year, I particularly enjoyed the Grand Tasting's new location outside on the beach at the Ritz Carlton's Beach House Lawn. For information, visit www.kapalua.com
In May, the Waihua Spa at the Ritz Carlton is scheduled to re-open with 15 treatment rooms with private gardens. In June, Merriman's Kapalua will open at the former Bay Club location. We are all looking forward to the reopening of this fantastic oceanfront spot, and the chef-driven, fine-dining, farm to table approach.
As always, a market summary and information on the Kapalua Resort Market is transmitted below. News on new developments follows at the end of this email. Please don't hesitate to contact me with any questions.
Aloha,
Courtney
KAPALUA RESORT MARKET UPDATE
Note: Maps of condos and lots with parcel numbers are available online at www.kapaluarealty.com
 
CONDOMINIUMS:
BAY VILLAS
MLS # Status Unit L Price Sold Price Closing Date Bds Bths Liv-SF Days On Market
325737 ACTIVE 15G4 $950,000 1 1.00 1006 272
329968 ACTIVE 37G2 $995,000 1 1.00 989 54
330161 ACTIVE 31B1 $1,175,000 1 1.00 1006 46
330126 ACTIVE 33G1 $1,272,000 1 2.00 1118 48
328962 ACTIVE 29G4 $1,275,000 1 1.00 1006 102
331023 ACTIVE 32B3 $1,350,000 1 1.50 995 3
312429 ACTIVE 20G4 $1,395,000 1 1.00 1006 1026
329222 ACTIVE 34B4 $1,445,000 1 1.00 1006 93
329575 ACTIVE 30G2 $1,449,000 1 1.00 1006 75
326825 ACTIVE 30B1 $1,499,000 1 1.00 1006 210
328790 ACTIVE 14B1 $1,575,000 1 1.00 1006 108
315932 ACTIVE 36B3 $1,725,000 1 2.00 1229 831
329112 ACTIVE 24B1, 2 $1,795,000 2 3.00 1447 96
327107 ACTIVE 23G2 $2,100,000 1 1.00 989 195
328476 ACTIVE 16G3-5 $2,195,000 2 3.00 1619 123
328372 ACTIVE 15G123 $2,195,000 2 3.00 1529 128
325733 ACTIVE 35G3,4,5 $2,485,000 2 3.00 1529 272
328630 ACTIVE 28B2 $2,595,000 2 3.00 1447 115
315931 ACTIVE 30G3-5 $2,650,000 2 3.00 1529 831
328930 ACTIVE 14B3,4 $2,695,000 2 3.00 1750 102
325663 PENDING - CONT. TO SHOW 19G5 $1,595,000 1 1.50 1118 278
325038 SOLD 16B2-4 $1,950,000 $1,800,000 3/14/2008 2 2.50 1529 275
 
COCONUT GROVE
No active listings at this time in MLS
 
GOLF VILLAS
MLS # Status Unit L Price Bds Bths Liv-SF Days On Market
324080 ACTIVE 11T6-7 $699,000 1 2.00 972 368
320974 ACTIVE 15T3,4 $720,000 1 2.00 972 525
326756 ACTIVE 20T1/2 $729,000 1 2.00 972 215
324557 ACTIVE 16V-1 $820,000 1 1.50 899 336
330329 ACTIVE 14V2 $829,000 1 1.50 899 38
322416 ACTIVE 21T5-6 $849,000 1 2.00 972 454
321922 ACTIVE 12T2 $850,000 1 1.50 987 476
330786 ACTIVE 14V1 $890,000 1 1.50 899 14
326254 ACTIVE 25P 3-4 $960,000 2 2.00 1344 244
326218 ACTIVE 16P3,4 $975,000 2 2.00 1344 244
329635 ACTIVE 20 P1,2 $1,050,000 2 2.00 1440 70
330347 ACTIVE 21P1,2 $1,075,000 2 2.00 1344 38
330527 ACTIVE 18P-3,4 $1,098,000 2 2.00 1407 28
329590 ACTIVE 19T4,5 $1,100,000 1 2.00 972 74
324755 ACTIVE 14P5,6 $1,100,000 2 2.00 1344 325
324378 ACTIVE 17 P5,6 $1,150,000 2 2.00 1432 347
330836 ACTIVE 14 P 1-2 $1,250,000 2 2.00 1344 12
329456 ACTIVE 27P7,8 $1,295,000 2 2.00 1344 81
329555 ACTIVE 20P5,6 $1,300,000 2 2.00 1344 77
330194 ACTIVE 18 P 5,6 $1,365,000 2 2.00 1344 45
329083 ACTIVE 23T3 $1,375,000 2 2.00 1350 97
328819 ACTIVE 11T5 $1,500,000 3 2.00 2000 107
327081 PENDING - CONT. TO SHOW 14 T4/5 $675,000 1 2.00 972 196
325037 PENDING - CONT. TO SHOW 16V3 $775,000 1 1.50 899 314
330640 PENDING - CONT. TO SHOW 14P-7,8 $785,000 2 2.00 1344 22
330641 PENDING - CONT. TO SHOW 14T-6,7 $795,000 2 2.00 1344 22
 
IRONWOODS
MLS # Status Unit L Price Bds Bths Liv-SF Days On Market
328858 ACTIVE 24 $3,225,000 2 3.00 2102 105
322140 ACTIVE 83 $3,250,000 2 3.00 2482 468
328864 ACTIVE 14 $3,950,000 2 3.00 1935 105
 
RESIDENTIAL SUITES AT THE RITZ CARLTON KAPALUA
Please contact me for a complete list of remaining developer units.
 
RITZ CARLTON RESIDENCES AT KAPALUA BAY
This is just a sample from the developer of available Residences. Please email me for a complete list of available properties.
MLS # Status Unit L Price Bds Bths Liv-SF Days On Market
319899 ACTIVE 5102 $4,275,000 3 3.50 3002 605
319902 ACTIVE 2401 $9,335,000 4 4.50 4271 605
319901 PENDING - CONT. TO SHOW 1303 $6,245,000 3 3.50 3125 365
RIDGE VILLAS
Active Listings
MLS # Status Unit L Price Bds Bths Liv-SF Days On Market
327525 ACTIVE 312 $895,000 1 2.00 1125 173
326113 ACTIVE 2512 $939,000 1 2.00 1125 252
328409 ACTIVE 815 $989,000 1 2.00 1162 126
330805 ACTIVE 214 $990,000 1 2.00 1125 13
323558 ACTIVE 2122 $1,050,000 1 2.00 1150 395
328839 ACTIVE 714 $1,075,000 1 2.00 1125 107
327561 ACTIVE 1812 $1,099,000 1 2.00 1125 171
327628 ACTIVE 411 $1,250,000 1 2.00 1162 167
326708 ACTIVE 622 $1,250,000 1 2.00 1150 218
330735 ACTIVE 2214 $1,300,000 1 2.00 1125 19
328342 ACTIVE 21 13-15 $1,490,000 2 3.00 1778 131
329330 ACTIVE 311 $1,495,000 1 2.00 1162 87
328143 ACTIVE 2611 $1,525,000 1 2.00 1162 143
327127 ACTIVE 413-15 $1,575,000 2 3.00 1778 194
327961 ACTIVE 1823,24 $1,588,000 2 3.00 1756 150
326459 ACTIVE 623-24 $1,995,000 3 3.00 1922 231
330613 ACTIVE 2723-24 $2,500,000 2 3.00 1756 24
326474 PENDING - CONT. TO SHOW 715 $1,195,000 1 2.00 1162 209
 
KAPALUA RESORT HOMES:
 
KAPALUA PLACE
No Active Listings
 
PINEAPPLE HILL AND PINEAPPLE HILL ESTATES
MLS # Status Address L Price Bds Bths Liv-SF Land Acres Days On Market
324672 ACT 406 MONARCH PLACE $2,849,000 3 3.00 2794 0.2820 331
322607 ACT 108 Woodrose Place $2,900,000 5 4.50 4145 0.2736 445
328738 ACT 710 Fairway Drive $2,950,000 3 3.50 3666 0.2015 110
329687 ACT 516 Pacific Drive $3,200,000 3 3.50 3666 0.2190 69
330289 ACT 102 Woodrose Place $3,300,000 3 3.50 3812 0.2642 39
327033 ACT 232 Crestview Road $3,950,000 3 3.00 3354 0.4478 203
327451 ACT 334 Cook Pine Drive $4,199,000 3 5.00 3493 0.2509 185
329685 ACT 514 Pacific Drive $4,200,000 4 4.50 3704 0.2181 69
327885 ACT 1206 Summer Road $4,250,000 4 5.50 3624 0.2519 154
326943 ACT 222 Crestview $4,695,000 4 4.50 4243 0.4774 203
330509 ACT 116 PULELEHUA STREET $5,295,000 4 4.50 4081 0.4716 28
328554 ACT 618 Silversword Drive $5,300,000 3 3.50 4100 0.2432 117
330681 ACT 120 Pulelehua $5,390,000 3 4.00 4723 0.4817 19
328770 ACT 238 Crestview Road $5,395,000 4 4.50 4095 0.4668 109
326777 ACT 106 Pulelehua Street $5,600,000 4 5.00 4500 0.4703 214
320776 ACT 112 Pulelehua Street $8,125,000 2 2.50 4504 0.4700 539
329278 ACT 208 CRESTVIEW ROAD $8,500,000 4 4.50 5725 0.4701 90
 
PLANTATION ESTATES and HONOLUA RIDGE
MLS # Status Address L Price Sold Price Closing Date Bds Bths Liv-SF Land Acres Days On Market
329665 ACT 229 Plantation Club Drive $7,900,000 3 3.50 4085 2.5250 71
330738 ACT 410 Namalu Place $8,200,000 4 4.50 4709 2.6910 17
329568 ACT 501 Honokohau Street $8,250,000 5 6.50 6386 2.0100 77
314184 ACT 223 PLANTATION CLUB DRIVE $9,850,000 3 3.50 5366 2.1800 923
326389 ACT 231 Plantation Club Drive $12,800,000 8 8.00 12114 7.2500 236
328523 ACT 222 Plantation Club Drive $16,000,000 7 7.50 11399 2.4900 122
327520 SLD 197 Plantation Club Drive $5,900,000 $5,250,000 3/8/2008 4 5.00 4569 2.0000 131
 
KAPALUA RESORT VACANT LAND:
 
KAPALUA PLACE
No Active Listings
 
PINEAPPLE HILL AND PINEAPPLE HILL ESTATES
MLS # Status Address L Price Land Acres Days On Market Par
329998 ACTIVE 216 Crestview Rd. $1,299,000 0.281656 53 9
328109 ACTIVE 233 Crestview $1,595,000 0.460000 144 26

 

PLANTATION ESTATES I & II and HONOLUA RIDGE I & II
MLS # Status Address L Price Land Acres Days On Market Par
325796 ACTIVE 221 Plantation Club Drive. Lot 13 $1,473,300 2.340000 269 13
330878 ACTIVE Lot 3 Honolua Ridge Phase I lot 3 $1,500,000 3.400000 10 3
324225 ACTIVE 104 Honolua Place $1,750,000 2.175000 354 003
325804 ACTIVE Lot 13 Honolua Ridge, phase I $1,965,000 6.690000 270 13
321807 ACTIVE 110/112 Keoawa Street $2,100,000 4.337000 481 41
330027 ACTIVE 219 Plantation Club Drive $2,180,000 2.010000 52 12
328328 ACTIVE Lot 4 Honolua Ridge II $2,200,000 3.300000 131 4
330637 ACTIVE 122 Keoawa St. ( Lot #18 Phase I) $2,250,000 5.800000 21 18
324544 ACTIVE 600 Honokohau Street $2,295,000 2.340000 336 54
328202 ACTIVE Lot 6 Honolua Ridge II $2,400,000 8.280000 140 6
326611 ACTIVE 107 Ke'oawa Place $2,495,000 4.504000 224 6
327574 ACTIVE 117 Ke'oawa Pl., HR Lot 1, Phase 1 $2,695,000 7.070000 172 1
316411 ACTIVE Lot 24 Honolua Ridge II $5,000,000 25.400000 810 tbd
 
Maps and photos of the development can be found online at www.kapaluarealty.com
OTHER AREAS OF WEST MAUI (OUTSIDE OF THE KAPALUA RESORT):
OCEANFRONT HOMES:
MLS # Status Address L Price Sold Price Closing Date Bds Bths Liv-SF Land Acres Days On Market
331075 ACT 1051 Front Street $2,800,000 3 1.00 896 0.1414 0
329862 ACT 1045 Front St $3,200,000 2 1.00 743 0.1990 60
315539 ACT 1429 Front Street $3,900,000 3 3.00 1700 0.2039 852
326970 ACT 19 Hale Malia Place $4,895,000 4 3.00 3890 0.3039 203
329268 ACT 355 Front Street $4,900,000 2 2.00 1485 0.3577 90
326820 ACT 1391 Front Street $5,400,000 3 3.00 2609 0.1900 209
328500 ACT 39724 Honoapiilani Highway $5,550,000 3 3.75 2627 0.9000 123
329073 ACT 4591 S Lower Honoapiilani Road $5,995,000 5 4.50 4400 0.2943 97
328366 ACT 35 PAPAUA PLACE $7,995,000 5 5.00 3702 0.2120 129
324103 ACT 1181 HALEPAKA STREET $9,600,000 4 4.50 2380 0.2490 362
322056 ACT 1189 HALEPAKA PLACE $9,900,000 4 4.50 2814 0.3444 472
322350 ACT 49 HALE MALIA PLACE $9,995,000 4 4.50 4435 0.2400 458
328829 ACT 4039 Lower Honoapiilani Road $12,900,000 4 5.50 5418 0.9500 109
326284 ACT 6291 Honoapiilani (Alaelae Peninsula) $12,900,000 4 4.50 4351 3.4500 242
330638 ACT 59 Hale Malia Place $18,500,000 3 4.50 4160 0.5010 21
323918 ACT 40 KAI ALA PLACE $18,600,000 4 5.50 5348 0.9580 375
325386 ACT 20 Kai Ala Drive $23,800,000 8 9.50 11076 0.9770 295
330010 CNTRL 4025 Lower Honoapiilani Road $7,595,000 2 1.00 816 0.8560 52
312915 PNDS 4851 LOWER HONOAPIILANI ROAD $9,900,000 5 4.50 6400 0.5849 1075
315971 SLD 4591 N Lower Honoapiilani Road $4,395,000 $3,700,000 4/14/2008 6 4.50 4400 0.2500 822
 
OCEANFRONT LOTS
MLS # Status Address L Price Land Acres Days On Market Par
321778 ACTIVE Lot 4 C Olowalu $5,200,000 2.000000 485 6
326556 ACTIVE 10 Kai Ala Place $8,500,000 1.160000 227 1
 
CONDOMINIUMS
MASTERS at KAANAPALI HILLSIDE
MLS # Status Unit L Price Sold Price Closing Date Bds Bths Liv-SF Days On Market
328882 ACTIVE 3703 $795,000 1 1.00 923 104
330543 ACTIVE 2003 $799,900 1 1.50 901 26
330541 ACTIVE 1703 $800,000 1 1.50 901 27
328204 ACTIVE 3803 $875,000 1 1.00 901 139
327535 ACTIVE 3904 $950,000 1 1.00 901 172
320209 ACTIVE 3902 $950,000 2 2.00 1269 581
330376 ACTIVE 3907 $995,000 1 1.50 1087 34
326070 ACTIVE 1503 $1,025,000 2 2.00 1544 252
326849 ACTIVE 1203 $1,175,000 2 2.00 1512 208
327079 ACTIVE 1306 $1,185,000 2 2.00 1544 196
331063 ACTIVE 2901 $1,195,000 2 2.00 1516 1
328434 ACTIVE 1004 $1,235,000 2 2.00 1512 125
329285 ACTIVE 1804 $1,250,000 2 2.00 1512 89
327851 ACTIVE 1708 $1,297,000 2 2.00 1269 156
328205 ACTIVE 2705 $1,310,000 2 2.00 1512 139
326022 ACTIVE 1504 $1,325,000 2 2.00 1544 256
330540 ACTIVE 4201 $1,397,000 2 2.00 1269 27
329526 ACTIVE 2606 $1,537,000 2 2.00 1728 78
322754 ACTIVE 3304 $1,595,000 2 2.50 1850 438
330513 ACTIVE 2701 $2,150,000 3 3.00 2156 28
329446 PENDING - CONT. TO SHOW 2903 $1,297,000 2 2.00 1512 81
327396 SOLD 2302 $1,475,000 $1,300,000 3/25/2008 2 2.00 1544 154
 
Whaler at Kaanapali Beach
MLS # Status Unit L Price Sold Price Closing Date Bds Bths Liv-SF Days On Market
323665 ACTIVE 418 $591,000 0 1.00 542 388
328453 ACTIVE 163 $595,000 0 1.00 542 124
330546 ACTIVE 165 $599,000 0 1.00 542 26
327955 ACTIVE 365 $695,000 0 1.00 542 152
327488 ACTIVE 162 $700,000 0 1.00 523 177
330675 ACTIVE 661 $765,000 0 1.00 542 20
328285 ACTIVE 624 $1,125,000 1 2.00 905 133
326878 ACTIVE 519 $1,150,000 1 1.00 901 209
325702 ACTIVE 770 $1,180,000 1 2.00 905 275
328147 ACTIVE 859 $1,195,000 1 1.00 901 147
327159 ACTIVE 359 $1,200,000 1 1.00 901 193
329389 ACTIVE 408 $1,295,000 1 2.00 905 84
327017 ACTIVE 459 $1,295,000 1 1.00 901 201
330040 ACTIVE 1170 $1,298,000 1 2.00 905 52
329930 ACTIVE 724 $1,395,000 1 2.00 905 55
324298 ACTIVE 657 $1,475,000 1 2.00 905 350
328887 ACTIVE 223 $1,495,000 2 2.00 1444 104
327487 ACTIVE 560 $1,500,000 1 2.00 905 177
329434 ACTIVE 619 $1,550,000 1 1.00 901 82
323742 ACTIVE 456 $1,750,000 1 1.00 901 385
329781 PENDING - CONT. TO SHOW 411 $1,500,000 1 2.00 905 63
326718 PENDING - CONT. TO SHOW 821/823 $2,500,000 2 2.00 1444 216
330250 PENDING - DO NOT SHOW 864 $765,000 0 1.00 523 42
329754 PENDING - DO NOT SHOW 1112 $1,495,000 1 2.00 908 66
325703 SOLD 451 $1,995,000 $1,875,000 3/28/2008 1 2.00 941 251
312479 SOLD 515 $765,000 $735,000 4/14/2008 0 1.00 523 1013
 
NEW DEVELOPMENT:
Village at Kapalua:
Conceptual plans for the Village at Kapalua are underway, finally turning the vision of a village center into reality. At the top of the property where the plantation manager's home once stood (Pineapple Hill Restaurant), will be the Manor House at Maka'oi'oi. This plantation style home will provide meeting rooms, a library, pool complex, and areas for social gatherings. The upper floors will be gracefully appointed condominium homes. Adjacent buildings will provide approximately 47 one, two and three bedroom condominiums. Below Simpson Way, across from the Golf Academy, is a series of planned neighborhoods with a variety of condominium styles, featuring approximately 8 luxury two to three bedroom condominiums and a limited number of townhomes overlooking hole #2 of the Bay Course. Plans include expansion of the town center, just above the Honolua Store, with a variety of small specialty shops, boutiques, and cafes. For more information or to register your interest, please don't hesitate to contact me.
 
KAANAPALI:
The Villas at Royal Lahaina is a new project at a fantastic beach, Kekaa, the other side of Kaanapali's famous black rock. Plans are to replace the existing beach cottages with low rise, cottage style condominiums. The hotel will remain along with a new pool and tennis courts. It is my understanding that they are planning to relaunch the project at significantly lower pricing than the original marketing: www.royallahainavillas.com
 
Makena/Wailea:
In Makena, the new development "Maluaka" is an 11 acre site with 69 residences planned, separated from the shoreline by the Makena South Golf Course. Residences (2-4 story buildings) and Bungalows will range from 3000-6000 square feet. Pricing is in rage with the Residences at Kapalua Bay (4-11 million, with the majority in the 5-6,000,000 range). A club and concierge are part of the plans. For more information and availability, visit www.maluaka.com If a particular unit is of interest, please let me know and I will request the pricing from the developer.
 
There is also new development in Wailea, with the Baccarat Wailea Beach Resort replacing the Renaissance. This new development will consist of 193 1-4 bedroom condominium residences with pools, restaurants, spa. Over $300 million in real estate was sold in the first sales event. www.baccaratwailea.com There are still units available. Please contact me with any questions.
 
All information is taken from the Maui Multiple Listing Service, and is deemed accurate, but is subject to change and should not be relied upon without verification. Please note that listings in the MLS represent many different broker's listings and sales, and are not just those of Kapalua Realty. At times, those noted in the pending or sold categories may have never been active in MLS, but rather put immediately in the pending/sold. All listings are fee simple unless designated leasehold.