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        <atom:link href="http://www.luxuryrealestatemaui.com/blog/2019-11/rss" rel="self" type="application/rss+xml" />
        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/2019-11/</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/maui-oceanfront-homes-market-overview.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/maui-oceanfront-homes-market-overview.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Maui Oceanfront Homes: Market Overview November 2019</title>
    <description> <![CDATA[ 
MAUI OCEANFRONT HOMESMarket Update, November 2019





1437 Front Street is an oceanfront home for sale in the heart of Lahaina, on historic front streetView More Information


Update 1/27/2020:  Since this post was written, the classification of 6 sales in Makena was changed from Beachfront to Across the Street from the Ocean.  These sales totaled $60,162,136.  As they were developer sales the escrow could only close once construction was complete, so they had a very high Days on Market Count, averaging 1202 days on market.


As such, the statistics and summary below have changed.  Please see the post written 1/27/2020 for updated statistics.


Maui has several areas with oceanfront homes: West Maui, South Maui, North Shore, East Maui and Central Maui.  As you will see below, the home prices tend to be highest in the resort areas of West and South Maui. 


There are broad fluctuations in price depending on whether the property is beachfront or oceanfront; whether it is on a rocky shoreline or cliffside without water access; and the age, condition and size of the home.  


Over the past five years, oceanfront home sales have consistently seen a volume of around 20/year, with a low of 13 sales in 2015, and a high of 25 sales in 2017.  Looking at this year (YTD vs. 2018), the average sales price remains fairly consistent, yet the average Sales Price ($) per square foot has increased to $1902/sq. ft.  It is interesting to note, that oceanfront homes are selling at a lower percentage of the asking price than the prior year as well as with a longer average days on market.


Maui Oceanfront Homes: Market Snapshot by Area


Active Listings, Pending Sales and YTD Sales 






Oceanfront Homes


All Maui 


West Maui


South Maui


North Shore


East Maui


Central Maui




Active Listings


50


17


14


12


7


0




Low List Price


$750,000


$2,200,000


$3,500,000


$999,000


$750,000


 




Average List Price


$7,962,899


$11,359,705


$9,963,785


$4,006,416


$2,494,285


 




High List Price


$37,500,000 


$37,500,000


$29,750,000


$12,000,000


$6,500,000


 




Average LP/Sq. Ft.


$2183


$2869


$2497 


$1261


NA


NA 




Pending Sales


4


0


2


2


0


0




Average List Price


$3,699,500


NA


$3,724,000


$3,675,000


NA


NA




Supply of Inventory*


27.5 months


37.4 months


17.1 months


44 months


91 months


NA




2019 YTD Sales


20 


5


2


3


NA


3




Low Sales Price


$321,300 


$600,000


$3,450,000


$3,400,000


 


$321,300




Average Sales Price


$6,318,559


$4,184,999


$9,801,348


$5,341,666


 


$403,016




High Sales Price


$13,950,000 


$9,000,000


$13,950,000


$8,600,000


 


$565,000




Sales Volume 2019 YTD


$126,371,185 


$20,924,999


$17,400,000


$16,250,000


 0


$1,209,050




Average SP/Sq. Ft.


$1902


$1382


$2813


$1705 


 


$234 






*based on past 11 months of sales, with the exception of East Maui, which required going back to 2018.  With only one sale in 2018, the sale was then multiplied by a factor of 13


There is often a misperception that we see more sales in the Wailea/Makena Market.  What is important to note is that there are far fewer oceanfront homes in resort areas in West Maui than in Wailea/Makena.  For example, there are only 6 oceanfront homesites in Kaanapali's only oceanfront residential neighborhood, Kai Ala Place.  Similarly, there are just five oceanfront homesites in Kapalua Place, Kapalua's only oceanfront residential neighborhood.   Wailea/Makena are larger-scale resorts, with more oceanfront residential communities such as Keawekapu Beach, Maluhia, Makena Place, the Makena Beach Cottages, and Black Sands, as well as homes scattered along the Makena Coastline that aren't part of a formal subdivision.  Kihei's Halama Street is also a popular area with beachfront homes stretching along the shoreline.


Maui Oceanfront Home Sales: Key Metrics2014 to Present






Year


Sales


Volume


Avg SP


Avg SP$/sq. ft.


Avg DOM


SP/LP




2014


 21


$90,443,000


$4,306,810


$1504


287 


91




2015


 13 | -62


$55,075,000 |-64 


$4,235,538 | -2


$1793 | 16


214 | -34


93




2016


 22 | 41


$139,062,000 | 60 


$6,321,000 | 33


$2878 | 38


219 | 2


84




2017


 25 | 12


$146,765,387 | 5


$5,870,615 | -8


$1533 | -88


274 | 20


92




2018


 23 | -9


$148,197,545 | 1 


$6,443,372 | 9


$1759 | 13


222 | -23


91




2019 YTD


 20 | -15


$126,371,185 | -17 


$6,318,550 | -2


$1902 | 8


554 | 50


88






The highest-priced listing on the island is located in the Kapalua Resort:  9 Bay Drive is an 8B/8.5 acre estate situated on 9.97 acres.  It is currently offered at $37,500,000, reduced from $49,000,000.  This compares with a high sales price of $27,000,000 for an oceanfront estate in 2011 in Makena.  7150 Makena Road is a 4B/5.5B home on 1.69 acres.  To date, the largest sale on Maui for a private residence that was actually across the street from the ocean, in Keauhou, Makena $41,750,000 in 2015 (not in MLS) .


It should be noted--with such a small sampling, the statistics can vary widely at any given time, and the above are MLS statistics.  Additional properties have changed hands privately and are not entered in MLS.  For more information on all areas of Maui read: Maui Real Estate Statistics.


View Current Home Listings: Oceanfront, Beachfront and Across the Street from the Ocean





Corrected and Revised 1/27/2020


This information is provided by the Realtor's Association of Maui.  It is believed accurate, but subject to change.  Readers are advised to do their own due diligence.vision figures for both condos and home sites.  Some condo and some homesites have been combined to be one property.  This is not reflected in the number above.Above information on total properties is provided by Fidelity National Title and is believed to be accurate but is subject to change.
 ]]> </description>
    <pubDate>Sat, 30 Nov 2019 15:13:00 -1000</pubDate>
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<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/kapalua-golfs-plantation-course-hole-by-hole-changes.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kapalua-golfs-plantation-course-hole-by-hole-changes.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kapalua Golf's Plantation Course: Hole by Hole Changes</title>
    <description> <![CDATA[ 
KAPALUA GOLF’S PLANTATION COURSEHOLE-BY-HOLE CHANGES 





Avid golfers dream of playing Kapalua's Plantation Course, which consistently ranks amongst the top courses in Hawaii and rated as one of the top 100 courses in the world.  The course is the home of the PGA TOUR’s Sentry Tournament of Champions which returns to Kapalua Golf’s Plantation Course from January 1-5, 2020. Tickets for the PGA TOUR's champions-only event are available at sentrytournamentofchampions.com


In preparation for the tournament, a 9-month, multi-million dollar enhancement project began in February 2019.  Both the course and the Plantation Course clubhouse and golf shop reopen to the public on November 23rd.  In preparation for the tournament, tee times will be limited on the Plantation Course in late November and throughout December and golf carts will be restricted to cart paths only.  The Plantation House Restaurant, located in the Plantation Course clubhouse, is expected to open in early December. Tee time reservations can be made up to 45 days in advance by calling 877-527-2582, or 30 days prior through Kapalua Golf’s website (www.golfatkapalua.com).


The following is a Hole by Hole detailed list of improvements to refine and revitalize the course.  The original Plantation Course architects Bill Coore and Ben Crenshaw oversaw the project of the 28-year-old course along with Troon’s Design, Development and Agronomy team and Golf Channel personality Mark Rolfing. 


General changes on all 18 holes: 




All bunkers were rebuilt with new drainage, capillary concrete, reshaped, and new sand 


All greens were rebuilt including new drainage, new sand and grassed with TifEagle Bermuda grass 


All tees were laser leveled 


The entire course was replanted with Celebration Bermuda grass 




Hole 1: 




Professional tee rebuilt and expanded 


Fairway bunkers moved in toward the fairway 


The green size expanded, making more hole locations available 


The bail out area right of the green has been re-established from native grass to Bermuda grass 


Native grass area added behind the fairway bunkers, left of 1 tees and right of 1 fairway




Hole 2: 




The green was expanded 


Small landform was placed front left of the green surround 




Hole 3: 




New professional tee added 


Forward tees rebuilt and lowered  


First two fairway bunkers removed 


New fairway bunker added on the right side 


Greenside bunker bottoms raised and reduced in size 


Green was expanded by 1000 square feet 


Native grass area added to the right of the green 




Hole 4: 




First left fairway bunker removed and first right fairway bunker reduced in size 


New professional tee and resort tee rebuilt and lowered 


The green was expanded making more hole locations available 




Hole 5: 




New forward tee added 


New fairway bunker at 300 yards and a new approach bunker were added 


The green is slightly smaller 


The far right greenside bunker was removed 


The right greenside bunker bottom was raised 4 feet




Hole 6: 




The green expanded 900 square feet to the back and right side 


The green now has more pin location options 


Native grass area added behind the forward tee 




Hole 7:




New professional tee added to the right of the existing tee and the old professional tee was removed 


The resort and forward tee complex was rebuilt and lowered 


A new landform was added in the middle of the landing zone off the tee 


The bunkers were reduced in size 


The green was reduced in size by approximately 750 square feet 




Hole 8: 




Right side professional tee rebuilt and expanded 


Left side professional tee removed 


Forward tee raised 3 feet 


Entire green complex was rebuilt 


All bunkers moved slightly closer to the green 


Front bunker bottom raised by 4-5 feet 


Bailout areas created left and right to capture errant shots 




Hole 9: 




New professional tee added 


Tee complex rebuilt and lowered 


A new forward tee added 


A new landform in the left rough/fairway landing area 


Left fairway bunkers moved-in toward the fairway 




Hole 10: 




New professional tee added


New native grass areas established in front of professional tee and back left of the green complex 


The front left approach area was raised slightly to prevent balls from rolling off into the native area 


The green was softened and has many more pin locations available 


The green is smaller by approximately 500 square feet  




Hole 11: 


• The green expanded by approximately 500 square feet 


Hole 12: 




New native grass areas established right of the right fairway bunkers and behind the green complex


All fairway bunkers were move slightly in toward the fairway 


The front left approach bunker was reduced in size 




Hole 13: 




Native grass was established left of the fairway narrowing the hole off of the tee by 60 feet 


A new forward tee was added 


The collection area past the fairway bunker was raised 


The approach was raised and softened 


The green was reduced in size by 1000 square feet


More hole location options were added 


Native grass was established behind the green complex 




Hole 14: 




The forward tee was rebuilt and shifted forward and left 


The first fairway bunker was removed 


The green expanded by 1200 square feet 


There are more pin location options available 




Hole 15: 




The entire tee complex was rebuilt, lowered, and one small tee was removed 


A new forward tee was added 


A new landform was added at the end of the first fairway 


A new landform was added in the approach area 


The bottom of the existing approach bunker was raised by 5 feet 


A new bunker was added behind the existing bunker 


Native grass was established on the right side of the first fairway slightly narrowing the hole off the tee by 6-10 feet 


The green was reduced in sized by 400 square feet 




Hole 16: 




The first middle fairway bunker was removed 


The far left fairway bunker was removed 


A new landform was added on the left side of the fairway 


A new bunker was added at 280-300 yards in front of the existing approach bunker 


The front right greenside bunker was removed 


All of the greenside bunkers were reduced in size and moved closer to the green 


The green was reduced in size by 600 square feet 


More hole location options are now available 


Native grass was established on the left side of the hole, right of the green, and behind the green  




Hole 17: 




The first fairway bunker was removed 


A new landform was added front right of the green in the approach area 


More hole location options are now available 




Hole 18: 




The bunker bottoms were raised slightly 


A subtle landform was added front middle of the green in the approach 


The green expanded by 1200 square feet 


There are more hole location options now available 




Practice areas: 




The putting green was reduced in size by 33 percent 


A new chipping green, practice bunker and chipping green fairway were created 


The practice range tee was leveled and re-grassed 


A new slab was poured on the practice range tee to accommodate practice tee mats 




Above list of updates was provided by Kapalua Golf


The Plantation Course is surrounded by Kapalua's Plantation Estates, home to some of the most stunning estates in the resort.  Situated on 2+ acre homesites, the development overlooks some of the most spectacular vistas the Plantation Golf Course has to offer.  The homes nestled along the 16th &amp; 17th holes and perched overlooking the 18th hole have historically commanded the highest sales prices, ranging from $6-14 Million.  At the time of this post, home offerings in the Plantation Estates range from $3,995,000 to $5,995,000 and land offerings range from $885,000 to $3,995,000 for a 2.3 acre parcel overlooking the 18th fairway.


View Plantation Estates Homes &amp; Plantation Estates Lots for Sale



 ]]> </description>
    <pubDate>Wed, 20 Nov 2019 11:43:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/kapalua-logo-sale-november-7-11-2019.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kapalua-logo-sale-november-7-11-2019.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kapalua Logo Sale: November 7-11, 2019</title>
    <description> <![CDATA[ 
Just in time for the holidays, the Kapalua Logo Sale is back


Where: Kapalua Bay Course &amp; Resort ShopWhen: November 7-11, 2019



 ]]> </description>
    <pubDate>Fri, 08 Nov 2019 11:48:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/spotlight-on-kapaluas-pineapple-hill-pineapple-hill-estates-1019.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/spotlight-on-kapaluas-pineapple-hill-pineapple-hill-estates-1019.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Spotlight on Kapalua's Pineapple Hill &amp; Pineapple Hill Estates</title>
    <description> <![CDATA[ 
Pineapple Hill and Pineapple Hill Estates Market Update, Oct 2019


Kapalua's Pineapple Hill and Pineapple Hill Estates is a popular neighborhood in the heart of the Kapalua Resort.





Pineapple Hill is the first phase of the development and was originally designed with 99 homesites, most being a quarter-acre, though many of them were consolidated to make larger lots.  Owners must build one of six floor plans (thought modifications are allowed with approval from the Design Review Committee), unless buildling on two or more contiguous lots, in which case a custom home is permitted.  


Pineapple Estates was annexed in early in 2001, with 31 homesites being integrated into the community.  Lots are larger (approximately a half-acre) and custom homes with a 25-foot roof height are permitted, with the caveat that two-story construction is only allowed on the top row. 


With a mix of older and newer construction, we have seen some lower sales in Pineapple Hill in the past few years.  However, average sales prices have been increasing as has the volume of sales, particularly when comparing October of this year with October of 2018 and 2017: 





Pineapple Hill Real Estate Market Update






Active Listings


10




Price Range


$2,150,000 to $3,750,000




Pending Sales


1




Price Range


$2,695,000




Absorption Rate


8.6 months




2019 YTD Sales


14




Price Range


$1,489,020 to $3,200,000






After a slow 2018, the real estate market for homes for sale in Pineapple and Pineapple Hill Estates has picked up dramatically.  At my last Pineapple Hill Market Update in July, the volume was 96 over 2018, and is now up to 249.  Sales volume has surpassed that of 2016, which was the high in terms of volume in the past five years.  Available listing inventory of homes for sale in Pineapple Hill &amp; Pineapple Hill Estates is decreasing with the absorption rate dropping from 18.6 months in July to 8.6 months at the time of this post.






Year


Sales


Volume


Avg SP


Avg SP$/sq. ft.


Avg DOM


SP/LP




2014


5


$17,597,000


$3,519,400 


$779


 414


 91




2015


7 | +40


$17,380,000 | -1


$2,482,857 | -29


$623 | -20


 305 | -26


 91




2016


9 | +29


$21,170,000 | +22


$2,377,430 | -5


$651 | +4


 219 | -28


 91




2017


6 | -33


$15,145,000 | -28


$2,524,166 | +7


$680 | +5


 219 | 0


 93




2018


4 | -33


$9,550,000 | -37


$2,387,500 | -5


$588 | -14


 325 | +48


 92




2019 YTD


14 | +250


$33,284,020 | +249


$2,377,430 | 0


$685 | +17


 271 | -17


 94






The Kapalua Residential Market


While the bulk of the sales in Kapalua have been in Pineapple Hill, there have been two homes to sell in Honolua Ridge at $2,850,000 and $3,270,000 and one home to sell in the Plantation Estates Phase II at $6,000,000


View Current Listings: Pineapple Hill Kapalua Homes for Sale





 
 ]]> </description>
    <pubDate>Thu, 07 Nov 2019 17:09:00 -1000</pubDate>
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