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        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/2016-09/</link>
        <description>Courtney M. Brown, Realtor (S) Blog: information on the Maui real estate market, trends, and listings. Homes, condos and land for sale.</description>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/real-estate-market-spotlight-west-maui-oceanfront-homes.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/real-estate-market-spotlight-west-maui-oceanfront-homes.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Real Estate Market Spotlight | West Maui Oceanfront Homes </title>
    <description> <![CDATA[ 
Maui Real Estate Market Spotlight |  West Maui Oceanfront HomesOlowalu to Kapalua





West Maui, which stretches from Olowalu to Kapalua, naturally has a very limited number of oceanfront homes unlike other coastal areas of the island.  A majority of the oceanfront homes here are on rocky beaches or points, and only a handful are located on the beaches in Olowalu, Lahaina, Kaanapali, Kahana, Napili and Kapalua.  


Maui Oceanfront Homes:


West Maui Oceanfront and Beachfront Homes | Market OverviewActive Listings: 4Price Range: $9,895,000 to $20,000,000  Average List Price: $15,646,250Average Days on Market: 393Average LP $/Sq. Ft.: $2,807


Pending Sales: 2Price Range: $5,850,000 to $12,800,000Average List Price: $9,325,000Average Days on Market: 232Average LP $/Sq. Ft.: $2,254


Sales 2016 YTD: 5Price Range: $3,975,000 to $9,500,000Average Sales Price: $4,387,400Average Days on Market: 230Average SP $/Sq. Ft.: $2,085


A Detailed Overview of West Maui's Current Oceanfront and Beachfront Listings






Address


Price


Beds


Baths


Sq. Ft.


Acreage


 Built


LP $/Sq. Ft.


 MLS




30 Papaua Place, Napili


$8,985,000


3


4


3,742


.23


1992


$2,401


366452




30 Hui Road E, Kahana


$16,000,000


5


6


6,257


.39


2007


$2,347


367118




9 Kapalua Place, Kapalua


$17,600,000


4


5.5


7,475


.70


2002


$2,355


368299




59 Hale Malia Place, Napili


$20,000,000


3


4.5


4,165


.50


2000


$4,125*


363301






The current listings are in communities that are all located North of Kaanapali in the Kahana/Napili and Kapalua areas. Each neighborhood has its own feel, and there is a broad range in age, size of both the home and the lot, and price/sq. ft.


As you head from South to North, the first home you will encounter is 30 Hui Road E on Haukoe Point. This oceanfront point is a little over five acres, and is populated with just 9 oceanfront parcels on the point and 3 ocean/garden view parcels.  There are 4 oceanfront homesites to the north overlooking Keonenui Beach.  It's not a formal gated community.


On the other side of Keonenui Beach is Alaeloa Point. On the South side of the point is the gated community of Hale Malia. There are just 6 oceanfront homes on over 2.6 acres. The crown jewel of this small community is 59 Hale Malia, which commands the end of the point, oriented to the South West--an ideal vantage point to watch Maui's magnificent sunsets. *It should be noted that 59 Hale Malia also includes a cottage with 2B/1B that is 685 sq. ft. and an art studio, so the price/sq. ft. does not reflect all of the living space on the property


Papaua Place at Papaua Point is a small gated community comprised of just 11 homes. Overlooking Honokeana Bay to the North, this is one of West Maui's best snorkel spots due to its calm, clear waters and abundant turtles. To the South of the point is the bay at Alaeloaiki to the South, where in the winter, the surf break, Little Makana, goes off.


Of the current oceanfront listings, Kapalua Place is the only property that is directly beachfront. A part of the Kapalua Resort, this gated community is located overlooking Oneloa Bay. Comprised of 8 homesites on approximately 9 acres, the homes at Kapalua Place enjoy the amenities of the Kapalua Resort, which includes the option to join the Kapalua Club for special privileges at the Bay and Plantation golf courses, Spa Montage, the Beach Club and Kapalua Tennis.  


*Note: the above summary does not include homes that are directly across the street from the ocean (which is a category that is included with both oceanfront and beachfront in our MLS) or properties at the Alaeloa condominium community (which can sometimes be listed under oceanfront homes, even though they are part of a condominium association). 


Contact Courtney for more information on West Maui Oceanfront and Beachfront homes and estates for sale.


View West Maui Oceanfront Homes and Estates for Sale





 


 


 


 
 ]]> </description>
    <pubDate>Wed, 28 Sep 2016 16:33:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/hitting-the-hiking-and-walking-trails-in-kapalua.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/hitting-the-hiking-and-walking-trails-in-kapalua.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Hitting the Hiking and Walking Trails in Kapalua</title>
    <description> <![CDATA[ 
I was recently asked to write a piece for MauiNow.com on living in Kapalua.  It quickly morphed into a piece on the Kapalua Hiking and Walking Trails, as I realized that they are my favorite part of living in Kapalua.  There is so much natural beauty in the resort--it is just 1600 acres set within 22,000+ acres of conservation land.  There is a 45 acre marine preserve, and the area is home to endangered species.





Sunset at the Lake at the Village Lake Loop, Kapalua Village Trails


The Lake Loop is my go to for a daily walk--there are several loops and you can create different paths, many of them challenging. For more information, read the article on the Kapalua Hiking and Walking Trails.


The Village Trails are also home to the XTERRA World Championships, where nearly 800 professional athletes from around the world take on a challenging running and cycling course that is cut through the Village Trails.  This off-road triathlon combines a challenging 1-mile rough water swim, a 20-mile mountain bike course and a 6.5 mile trail run. Locals and visitors alike can also participate in races for the Keiki (children), as well as 5K and 10K runs.


Not included in the article, but farther North are the short hikes to the Nakalele Blowhole, Ohai Trail, the Olivine Pools.  Should you venture out North, please be careful and mindful of the ocean, as these areas are exposed and subject to large swells and rogue waves.  It's better to enjoy the view than risk your safety.


 


 
 ]]> </description>
    <pubDate>Sun, 25 Sep 2016 12:21:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/montage-residences-kapalua-bay-live-in-luxury.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/montage-residences-kapalua-bay-live-in-luxury.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Montage Residences Kapalua Bay | Live in Luxury</title>
    <description> <![CDATA[ 
The Montage Residences Kapalua Bay


Since opening to the public in 2014, the Montage Kapalua Bay Hotel and Residences has been gathering some of the hospitality industry's most coveted awards and accolades.  In 2016 it was awarded 5-stars by Forbes, and named the 1 Best Resort Hotels in Hawaii and 4 Best Hotels in the World by Travel and Leisure.  The Spa Montage (Conde Nasté Reader's Choice Awards, 2015 20 Best Spas) and its flagship restaurant, Cane &amp; Canoe (Maui No Ka Oi Magazine, Best Innovative Menu, 2016 and Best New Restaurant, 2015) have also been recognized.


With a focus on five star service and amenities, and its incredible setting, it's no surprise the private residences are also proving to be very desirable purchases, setting record high sales for condominium residences in West Maui.  Adding to the location and spacious size (residences range from 2,789 to 4,055 sq. ft.), owners have the option of renting the residences when not in use due to the hotel zoning.


Live a Maui Life...





Montage Residences Kapalua Bay, Residence 1205


Now offered at $5,795,000 this private residence is positioned overlooking the crescent shaped beach at Maui's famed Kapalua Bay, with views of the outer islands of Molokai and Lanai.  This three bedroom residence enjoys a private yard beyond a large sheltered lanai, perfect for taking in the ocean views and sunset.


Current Market Summary: Montage Residences Kapalua Bay


Active Listings: 9 in MLS.  Three are resales, and the remainder are developer inventory. There is some developer inventory not actively listed but available.  Inquire for more information.Price Range: $3,550,000 to $8,750,000Average LP: Average LP/Sq. Ft.: $1651


Pending Sales: 3Price Range: $3,600,000 to $4,500,000


Sales YTD: 6Price Range: $3,125,000 (resale), and $3,850,00 to $8,650,000 (developer)Average Sales Price (all): $4,795,888Average SP/Sq. Ft (all).: $1551





Montage Residences Kapalua Bay, Residence 5202


Montage Residence 5202 is currently the lowest priced offering in the MLS at $3,550,000.  Located in the desirable 02 stack in building 5, this residence features an ocean view lanai with sweeping views of the coast and the outer islands off the living room and master bedroom, as well as a private garden lanai off the guest master.  This is an exceptional value in this five star property. 


Sales History: Ritz-Carlton Residences Kapalua Bay and Montage Residences Kapalua Bay


Originally developed as a Ritz-Carlton Club and Residences and offered in 2009, the property was offered with 84 whole ownership private condominium residences and 64 fractional (1/12) ownership residences interests.  There were 13 Initial sales to the public that ranged from $2,800,000 to a high of $5,735,000.  There was a block of 15 residences purchased by Exclusive Resorts for $56,574,392.  


Poor market timing of the launch led to foreclosure.  Island Acquisitions, formed by capital group Lantern Asset Management, became the new owner in early 2013, with 56 private residences as their holdings, along with unsold fractional interests  (there were 177 of 744 fractional interests sold in the original offering).


After extensive upgrades were made to the property, it was rebranded and launched as the Montage Kapalua Bay.  Unsold fractional interests became hotel inventory.  Sales of the private residences commenced in the summer of 2014, and have since brought in record high values for West Maui condominiums.  In all, there have been 23 sales since the rebranding as the Montage Residences Kapalua Bay.


Sales Since Re-Launch 2014: Price Range: $3,125,000 (resale) and $3,850,000 to $8,650,000 (developer)Average SP (all): $5,057,826Average SP/Sq. Ft. (all): $1638


For more information on both resales and developer offerings at the Montage Residences Kapalua Bay, please contact Courtney.



 ]]> </description>
    <pubDate>Thu, 15 Sep 2016 13:59:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/kapalua-real-estate-market-update-august-2016.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kapalua-real-estate-market-update-august-2016.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kapalua Real Estate: Residential Market Update September 2016</title>
    <description> <![CDATA[ 
Kapalua Residential Real Estate Market Update




The Kapalua Resort offers many real estate ownership options to prospective buyers--everything from condos to homes, and even fractional ownership Residences at Kapalua Bay.  The following is a market overview for each market segment during the time period through today's posting.


Kapalua Homes:




Pineapple Hill and Pineapple Hill EstatesActive Listings: 12Price Range: $2,150,000 to $6,300,000Average List Price: $3,537,791Average LP/Sq. Ft.: $821Average DOM: 258Size Range: 3,522 sq. ft. to 8,172 sq. ft.

Pending Sales: 0


Sales 2016 YTD: 6Price Range: $2,150,000 to $2,700,000Average Sales Price: $2,353,333Average SP/Sq. Ft.: $670Average DOM: 275


Sales 2015 YTD: 7Price Range: $1,975,000 to $3,350,000Average Sales Price: $2,482,857Average SP/Sq. Ft.: $623Average DOM: 305


Honolua RidgeActive Listings: 2Price Range: $4,395,000 to $4,995,000Average List Price: $4,695,000Average LP/Sq. Ft.: $849Average DOM: 233Size Range: 4,574 sq. ft. to 6,248 sq. ft.


Pending Sales: 0


Sales 2016 YTD: 2Price Range: $4,850,000 to $4,950,000Average Sales Price: $4,900,000Average SP/Sq. Ft.: $920Average DOM: 271


Sales 2015 YTD: 1Price: $3,495,000Average SP/Sq. Ft.: $876Average DOM: 174


Plantation EstatesActive Listings: 7Price Range: $5,250,000 to $6,995,000Average List Price: $5,953,571Average LP/Sq. Ft.: $1,072Average DOM: 133Size Range: 4,118 sq. ft. to 8,179 sq. ft.


Pending Sales: 2Price Range: $5,200,000 to $6,000,000Average List Price: $5,600,000Average LP/Sq. Ft.: $697Average DOM: 269


Sales 2016 YTD: 1Price: $6,470,000Average SP/Sq. Ft.: $863Average DOM: 44


Sales 2015 YTD: 2Price Range: $3,575,000 to $5,700,000Average Sales Price: $4,637,500Average SP/Sq. Ft.: $920Average DOM: 771


Kapalua PlaceActive Listings: 1Price Range: $17,600,000LP/Sq. Ft.: $2,355Average DOM: 225Size Range: 7,475 sq. ft.


Oceanfront Private PointSold: 1Price: $9,500,000SP/Sq. Ft.: $2,367DOM: 200


Commentary: The broad range in prices (both active and sales) are reflective of several factors, not limited to neighborhood (each has its own set lot size ranges), proximity to the ocean, view and age of the home.


The homes in Pineapple Hill Phase I are limited to six footprints, and can range in age from 1989 to present day construction, and some homes are situated on more than one lot, which allows for a custom home.  Pineapple Hill Estates lots are larger, and as the development was released in 2003, construction is, on average, newer.  There are not the same floor plan limitations, though all must be single story with the exception of the top row. 


Kapalua Place is the only beachfront residential community in Kapalua and offers just five oceanfront parcels in a community of eight residential lots.  


Plantation Estates predates Honolua Ridge, which is actually annexed into the Plantation Estates Lot Owner's Association.  Lots in Plantation Estates are a minimum of two acres, and have the advantage of being located on and around the Plantation Golf Course.  Lot sizes in Honolua Ridge can be significantly larger (ranging upward to 30 acres).  Please contact me with any questions regarding the Kapalua Residential Real Estate Market. 


Overall 2016 YTD vs 2015 YTD:There were the same number of homes sold (10).  Sales volume was up 33, and the Average Sale Price was also up (+33). Median Sale Price was down (-8).  The inventory of homes actively listed for sale in Kapalua is up slightly at 7.

View Current Kapalua Homes for Sale

 


 


 ]]> </description>
    <pubDate>Wed, 14 Sep 2016 21:13:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-market-update-through-august-2016.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-market-update-through-august-2016.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Maui Real Estate Market Update | Through August 2016</title>
    <description> <![CDATA[ 
Maui Real Estate Market Update


Through August 2016


The August Maui County Real Estate Market Update is now available for your review.  The report details sales activity through August, 2016 as compared with that of the prior year.  


Maui's Real Estate Market: Active Listings






 


Active Listings


Average List Price


Average Days on Market




All


1,629


$1,484,435


254




Residential


502


$2,283,790


163




Condominium


778


$981,617


177




Land


349


$1,455,543


558






Maui's Real Estate Market: Sales through August 2016


Across the island, the median sales prices are up for homes and condominiums, but down for vacant land.  Sales volume increased most for condominiums, however, the home and vacant land market didn't see such gains over last year.  Properties are starting to spend more time on the market, but total dollar volume is up slightly as well.  


Maui Real Estate Sales by Property Type: August 2016 vs. 2015






 


Number of Sales


  Change


Volume ($)


 Change


Average Sales Price


 Change


Median Sales Price


 Change




All


1654


+5


$1,284,626,150


+4


$776,678


-1 


$776,678


+6




Residential


697


0


$671,861,786


+4


$963,934


+4


$630,785


+7




Condo


867


+9


$551,780,063


+7


$636,425


-2


$429,000


+5




Land


90


0


$60,984,301


-17


$677,603


-17


$445,000


-9






Across Maui County the majority of sales are condominiums (53) and homes (39), with vacant land (4) and other (4).  Island wide, the Maui Real Estate Market saw the following when comparing this year over last by property type:


The increases in sales volume in 2016 over 2015 are slight. Since January, the Maui Real Estate market does show signs of improvement, with the sales of exiting inventory/active listings improving from 7 in January to 13 of the inventory selling in August.  Absorption rate went from approximately 15 months of inventory to 10 months of inventory.  Listings that were priced well, sold more quickly: those listed for 30 days or less sold at 98.95 of the listing price, whereas those on the market for 121+ days achieved 93.91 of the asking price.


For the month of August, the highest sales volume centers around the resort areas of West Maui ($48,854,600) and South Maui ($73,297,706).  Overall, there are more condominiums available in the resort markets of Kapalua, Napili, Kahana, Kaanapali, and Lahaina in West Maui, and in Kihei, Wailea, and Makena in South Maui.  Condominiums often appeal to second home buyers for their ease of care, and many allow vacation rentals.  For second home owners, many elect to rent when not in residence, and condos are often easier to rent than homes, which require a Short Term Rental Home permit. 





Maui Real Estate by Area Volume ( and $): August 2016 vs. 2015


When looking at the year to date sales through August 2016, West Maui was the only region to experience an increase in both Sales Volume ($) and Number of Sales () across the three property type categories. 






Volume


Condo ()


Condo ($)


Home ()


Home ($)


Land ()


Land ($)




West Maui


20


17


17


29


56


108




South Maui


1


-4


5


-21


-35


-69




North Shore


50


63


-1


21


8


39




Upcountry


700


502


5


11


-20


-31




East Maui


NA


NA


11


28


17


-29




Central


11


23


-11


0


-13


-41






The year to date volume in South Maui is still down over 2015, but is improving, helped by the high volume of sales that closed in the month of August. With so few condos available in the Upcountry area, closings in condominiums created a huge increase in volume, though it should be noted there were only 8 to close.  


Buying or Selling Maui Real Estate?


Please contact me with any questions about the Maui real estate market and properties for sale.  To search Maui Real Estate listings, visit LuxuryRealEstateMaui.com.  You'll find offerings including Maui Oceanfront Homes for Sale, as well as of condominiums, homes and land in the resort areas of West and South Maui and real estate islandwide.


West Maui Condos:  Kapalua Condos for Sale, Napili Condos for Sale, Kaanapali Condos for Sale, Lahaina Condos for SaleHomes: Kapalua Homes for Sale, Kaanapali Homes for Sale, Lahaina Homes for Sale, Launiupoko Homes for SaleLand: Kapalua Land for Sale, Kaanapali Land for Sale, Lahaina Land for Sale, Launiupoko Land for Sale


South Maui Condos: Wailea Condos for Sale, Makena Condos for SaleHomes: Wailea Homes for Sale, Makena Homes for SaleLand: Wailea Land for Sale, Makena Land for Sale


North Shore:Condos: North Shore Maui Condos for SaleHomes: North Shore Maui Homes for SaleLand: North Shore Maui Land for Sale


Other areas of interest: Upcountry, East Maui, Central Maui, and Lanai


Mahalo to Fidelity National Title for providing the August 2016 Maui Real Estate Market Report. The sales information compiled in these reports is taken from the Realtor's Association of Maui.  It is deemed reliable, but is not guaranteed.  It should be noted that just condominium, single family home sales and vacant land sales recorded in the MLS are included in this data. In the charts above, Molokai and Lanai are not included.  In the report by Fidelity, Molokai and Lanai are included slightly skewing the data. Private transactions not in MLS are not accounted for in the data sample.
 ]]> </description>
    <pubDate>Mon, 12 Sep 2016 17:06:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/alaeloa-maui-new-listing-and-market-update.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/alaeloa-maui-new-listing-and-market-update.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Alaeloa Maui | New Listing and Market Update</title>
    <description> <![CDATA[ 
Alaeloa MauiNew Listing and Market Update


Alaeloa is truly one of Maui's hidden gems...an enclave of just 42 residences on 13 acres, this private, gated community is situated on a private oceanfront cove in Napili.  Through a large mango grove there is direct access to a crescent beach and the surf break at Little Makaha.  Along the ocean is a large heated saline pool, along with a relaxing Pavilion with kitchen, bathrooms and showers, kayak and board storage areas. 





The oceanfront pool at Alaeloa


Introducing Alaeloa 40


This two bedroom, two bathroom condominium residence is one of only two townhouse units on property.  The two story floor plan provides views from both levels, and has been extensively refurbished and beautifully furnished. 





The kitchen opens to the great room and features upgraded appliances and fixtures, new cabinets and granite counter tops.  The Master Bedroom has a private lanai, with lovely ocean and outer island views. 





Both the downstairs and upstairs living spaces open up to large outdoor living spaces allowing you to enjoy Maui's beautiful weather, the ocean, and the island breezes.  





Alaeloa Real Estate Market Overview


Current Listings*: 2Price Range: $750,000 to $2,479,000 Leasehold2016 Sales YTD:  62016 Sales Range: $610,299 to $1,875,000 Leasehold2016 Sales Volume: $5,397,7992016 Average Sales Price: $899,633 Leasehold


Alaeloa Market Commentary: as Alaeloa offers both oceanfront and ocean view condominium residences, as well single units and duplexes, there is a broad variation in values.  Five of the sales were ocean view, and one oceanfront at $1,875,000 Leasehold.  Alaeloa offers the feeling of a private home, with condominiumized grounds, which is attractive to buyers seeking the privacy of a home and the ease of maintenance of a condominium.    


Sales in 2016 have picked up dramatically at Alaeloa over 2015.  Last Year, there were just two sales that averaged $617,500.  It should be noted that with such a limited number of units, the low sales in 2015 relative to 2016 may be indicative of supply vs. demand.


What is the Leasehold Agreement at Alaeloa?


A leasehold interest is created when the owner of a property enters into an agreement to lease the property for a specified period of time. As the purchaser of a leasehold property, you are acquiring the right to occupy and use the leased property for a specified period of time stated in the lease agreement. 


The Alaeloa leasehold estate was created in 1965 and runs to December 31, 2059. Ground leases are determined every ten years by the appraised value of the property as if it were unencumbered and there were no improvements on the property. The Alaeloa lease stipulates that ground rents are determined by the agreed upon appraised value times a specified interest rate or the then prevailing rate of similar properties similarly located. Yearly lease rents are established at Alaeloa through 2019.


Future ground leases will be established from 2020 through 2024, 2025 through 2034, 2035 through 2044, and 2045 through 2059. Most leases contain a surrender clause that states that the land and improvements revert back to the landowner at the expiration of the lease and there is no guarantee that a leasehold property will not revert unless agreed upon and advertised as Leasehold-Fee Available. However, some Lessors are negotiating with Lessees to extend the leases and in some cases we are seeing leasehold properties being converted to fee simple ownership, meaning in a condominium you own the unit as well as a percentage interest in the fee (land) and its improvements.  


We recommend purchasers of leasehold property seek legal counsel to review the ground lease agreements and leasehold documents.


*All data above is taken from the MLS at the time of this post.  Active listings follow below.



 ]]> </description>
    <pubDate>Wed, 07 Sep 2016 15:07:00 -1000</pubDate>
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