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        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/2021-09/</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/market-spotlight-montage-residences-kapalua-bay-september-2021.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/market-spotlight-montage-residences-kapalua-bay-september-2021.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Market Spotlight: Montage Residences Kapalua Bay</title>
    <description> <![CDATA[ 
Montage Residences Kapalua Bay: Condominium Listings and SalesMarket Overview September 2021





Montage Residences at Kapalua BayWhole Ownership Condominium Residences


Since being rebranded the Montage Residence Kapalua Bay in 2014, sales at the property have soared and 2021 is no exception. 


When originally developed as a Ritz-Carlton Club and Residences in 2008, the property was comprised of 84 wholly-owned three and four-bedroom residences, some of the largest condominiums available in West Maui.  These residences are known as the Grand Residences, and are located in buildings 1, 2, 5 and 6, have three and four bedrooms, and ranged from 2,789 to 4,055 sq. ft. 


The development also included 62 smaller two and three-bedroom residences that were offered as 1/12 ownership located in buildings 3 and 4.  When rebranded as the Montage Residences, all developer fractional sales were halted and 28 units were converted to whole-ownership residences, now known as the Hotel Residences


As an overview, when sales at the property first launched in 2009, the market was at a downturn after it's 2007/2008 peak. The average low for the Kapalua Resort real estate market took place in 2012.  


To give you a better sense of how significantly the market has changed, between 2009-2011 there were 14 sales averaging approximately $3.83M, with a total sales volume of $53,747,552.  The foreclosure took place in 2011, and sales ceased while improvements were made property-wide. 


When sales began again, the building 1 which is oceanfront, saw the bulk of the activity, followed by buildings 5 (particularly upper floors) and 2.  In 2019, the developer began sales of 15 of the smaller three-bedroom residences (approximately 2,000 +/- sq. ft.) in buildings 3 and 4, as well as the remaining inventory of larger residences in building 6.


As of the date of this post, there have been 20 Residences to sell at the Montage Kapalua Bay, averaging $4.022M and a Year to Date volume of $80,433,533 with another $15,270,000 in pending sales in MLS.  This represents a dramatic 178 increase over 2020's total sales volume ($) and a 72 increase over the sales volume when the project relaunched in 2014.  


View Current Listings of Montage Residences Kapalua Bay Condominiums


Quick Market Overview Montage Kapalua Bay Condo Listings:






Current Listings


4




Low LP


$3,525,000




High LP


$5,995,000




Average LP


$4,205,000




Average LP/Sq. Ft.


$1482




Average DOM


434






Montage Kapalua Bay Pending Sales






Current Listings


2




Volume


$15,270,000




Low LP


$6,975,000




High LP


$8,295,000




Average LP


$7,635,000




Average LP/Sq. Ft.


$2738




Average DOM


227






Montage Kapalua Bay Sales


View Montage Residences Kapalua Bay Recent Sales






Montage Residences 


2021 YTD


2020


2019


2018


2017


2016


2015


2014




Sales


20


9


21


12 


12


9


9


8




Volume


$80,433,533


$28,939,000


$86,445,000


$58,780,074  


$54,388,000 


$41,000,000 


$40,770,000 


$46,785,000 




Low SP


$2,695,000


$2,750,000


$2,400,000


$3,495,000


$3,125,000


$3,125,000


$3,950,000


$4,300,000




High SP


$8,500,000


$4,159,000


$7,950,000


$8,950,000


$6,475,000


$8,650,000


$4,900,000


$8,250,000




Average SP


$4,021,676


$3,215,444


$4,116,428


$4,898,339  


$4,532,333


$4,555,556


$4,530,000


$5,848,125




Average SP/Sq. Ft


$1,519


$1,407


$1,566


$1572 


$1,582


$1,516


$1,609


$1,735




Average DOM


160


169


172


229


100


147


168


67






Comments on Montage Residences Kapalua Bay Condo Sales History (Year over Year):


It is expected that the days on market would increase in 2020 due to the quarantine that was in place for the better part of six months.  As travel resumed, so did our market, as evidenced by a large increase in volume.  It is also noteworthy that sales of the hotel residences, which are considerably smaller, began in 2019.  Sales of the hotel residences have ranged from $2,750,000 to $3,795,000. 


Low SalesThe low sales price would have been at its peak in 2014, when buyers were focused on the two oceanfront buildings (buildings 1 and 2) and at its lowest in 2019-2021 when the ground floor inventory in ocean view buildings (buildings 2, 5, and 6) sold, coupled with the introduction of the smaller residences Hotel Residences in buildings 3 and 4. 


High SalesYou'll also note a variation in the high sales--there are only 8 four-bedroom residences, which are located at the center of the two oceanfront buildings.  These spacious residences command the highest sales prices for both their size and prime location.   There were three four-bedroom sales in 2014, which served to also increase the average SP/Sq. Ft., one in 2016, two in 2018, one in 2019, and the last in 2021 at $8,500,000. 


We are also starting to see resales in building 1 reach new record highs, with three sales and two pending over $6 milion






Status


Unit


List Price


Sold Price


Date


Beds


Baths


Sq. Ft.


DOM


$/SQFT


MLS 




PNDS


1205


$6,975,000  


 


 


3


3.5


2,789


428


$2,501


387915




PNDS


1305


$8,295,000


 


 


3


3.5


2,789


27


$2,974


392838




SLD


1505


$6,700,000


$6,475,000  


6/7/17


3


3.5


2,789


55


$2,322


374387




SLD


1405


$7,875,000


$7,250,000


6/14/19


3


3.5


2,789


137


$2,600


381518




SLD


2403


$6,100,000


$6,100,000


3/9/21


3


3.5


2,904


106


$2,101


389402






View Current Montage Kapalua Residences for Sale:


 


*Statistics above are at the time of this post per MLS.  Any interested party should do their own due diligence as the information is subject to change.
 ]]> </description>
    <pubDate>Tue, 28 Sep 2021 13:29:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/montage-kapalua-bay-luau.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/montage-kapalua-bay-luau.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Montage Kapalua Bay Luau</title>
    <description> <![CDATA[ 
The Montage Kapalua Bay is introducing a new Luau to its offerings at the Beach Club at Kapalua Bay (one of my favorite locations on the island, the Beach Club is located overlooking Kapalua Bay).





Unlike most public luaus in Hawaii, The Beach Club Luau at Kapalua Bay will be an intimate affair, providing guests with a more personal and authentic Hawaiian luau experience. The up-close event will only host up to 40 people. While guests at The Beach Club Luau will still sit at communal tables, its small size will afford all guests a front row seat. 


Each guest will receive coursed gourmet luau bento boxes, curated by Executive Chef Eric Faivre filled with modern luau favorites. For more information, click here.


Held on Tuesdays.  For reservations, please call (808) 662-6627 or click here to email. 
 ]]> </description>
    <pubDate>Thu, 16 Sep 2021 15:36:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/spotlight-on-pineapple-hill-in-kapalua-maui-92021.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/spotlight-on-pineapple-hill-in-kapalua-maui-92021.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Spotlight on Pineapple Hill in Kapalua, Maui</title>
    <description> <![CDATA[ 
Pineapple Hill, Kapalua, Maui: Market Update and New Listing Spotlight, September 2021





New to the market: 324 Cook Pine Drive is a 3B/3.5B home currently offered at $2,999,000


Introducing 324 Cook Pine Drive





The lanai view from 324 Cook Pine Drive





The living room view at 324 Cook Pine Drive


This beautiful home features expansive ocean and island views. The owners have loved this location for its private setting and the tranquil gardens, which feature a large pool with a soothing waterfall. Since their purchase, the owners have lovingly renovated the home: the kitchen features new cabinetry and Caeserstone counters. The focal point of the living room is a modern Dimplex fireplace with remote control and a new bar that compliments the kitchen. Additional features include travertine floors on the ground level, and carpeting in all of the bedroom suites upstairs. The gated Pineapple Hill community is popular and sought after for its central location in the Kapalua Resort, and amenities, which include an owner's pavilion, pool, and tennis courts


About Pineapple Hill:


Nestled on the leeward side of the Kapalua Resort, Pineapple Hill is one of the resort's most popular residential communities.  The first phase is comprised of homes on lots of approximately a quarter acre, although you do see larger homes built on two or more contiguous lots.  In 2001, Pineapple Hill Estates was annexed into the development and is comprised of lots approximately a half an acre in size.


Owners in Pineapple Hill have access to a community pool, tennis and pickleball courts, and beautifully landscaped grounds.


Pineapple Hill Market Overview: Where are we now, and how has the market changed?


As with much of the US, homes have become very desirable here on Maui and Pineapple Hill is no exception.  Home inventory is very low with just five homes actively listed for sale, all in Pineapple Hill Phase I.  Two are situated on single lots, listed at $2,795,000 and $2,999,000. There are three homes, each on a double lot, ranging from $4,995,000 and $8,995,000. View Pineapple Hill Homes for Sale


There are more vacant lot listings, with four total: three listings in Pineapple Hill Phase I ranging from $879,000 to $1,090,000, and one lot in Pineapple Hill Estates (Phase II) listed at $1,200,000.   There is one lot pending in Pineapple Hill Estates, listed at $1,195,000.  View Pineapple Hill Land for Sale


Pineapple Hill Home Sales Year to Date






Address


List Price


Sold Price


Closing Date


Beds


Baths


SQ. FT.


Land Acres


Days On Market


$/SQ.FT.


Built


MLS 




708 Fairway Dr


$2,825,000


$2,700,000


1/5/21


3


3.5


3,238


0.20


22


$834


1988


389627




1214 Summer Rd


$2,950,000


$2,700,000


1/25/21


3


3.5


3,598


0.26


182


$750


1994


387922




114 Woodrose Pl


$2,330,000


$2,062,500


2/25/21


3


4


3,560


0.35


288


$579


1997


387021




508 Pacific Dr


$2,850,000


$2,550,000


2/26/21


4


4.5


4,105


0.21


141


$621


1999


388871




1212 Summer Rd


$5,900,000


$4,850,000


3/31/21


8


8.5


8,174


0.79


299


$593


2000


387279




1202 Summer Rd


$3,750,000


$3,700,000


4/9/21


3


3


3,586


0.30


71


$1,032


2003


390126




310 Cook Pine Dr


$2,500,000


$2,460,000


4/23/21


3


3.5


3,626


0.24


54


$678


1998


391230




504 Pacific Dr


$2,495,000


$2,395,000


5/11/21


3


3


2,877


0.24


172


$832


1988


389363




708 Fairway Dr


$2,925,000


$2,925,000


5/25/21


3


3.5


3,238


0.20


0


$903


1988


391650




710 Fairway Dr


$2,698,000


$2,750,000


6/17/21


3


3.5


3,666


0.20


87


$750


1990


390828




112 Pulelehua St


$3,450,000


$3,350,000


7/6/21


3


2.5


4,504


0.47


563


$744


2002


385476




618 Silversword Dr


$3,995,000


$3,995,000


7/28/21


3


4


4,071


0.24


47


$981


1998


391842




102 Woodrose Pl


$2,600,000


$2,525,000


8/3/21


3


3.5


3,812


0.26


130


$662


1988


390902






Pineapple Hill Home Sales: YTD 2021 vs. YTD 2020






Pineapple Hill &amp; Pineapple Hill Estates Home Sales Through 9.13


2021


2020


Change




Numer of Sales


 13


 4


 +225




Average Sales Price


 $2,997,115


 $2,217,500


 +35




Average Sales Price/Sq. ft.


 $766


 $573


 +35




Average DOM


 158


 207


 -24






Pineapple Hill Home Sales: 


Homes in Pineapple Hill represent a good value within the Maui Resort market, and that is evident with homes spending less time on the market. 


When comparing 2019 to 2020, the average sales price has increased slightly, but the average sales price/sq. ft. has actually decreased slightly.  It is not surprising there are fewer sales in 2020 as travel restrictions were in place for the better part of six months.  Only two sales occurred during the travel restrictions, and half of the year's sales occurred after the state implemented its pre-travel testing program.


Once the quarantine requirements were lifted in October 2020, we began to see more sales and a dramatic increase in sales volume, average sales price, and sales price/sq. ft., increased dramatically in 2021.


Pineapple Hill Home Sales: 2020 vs. 2019






Pineapple Hill &amp; Pineapple Hill Estates


2020


2019


Change




Numer of Sales


10


 15


 -33




Average Sales Price


$2,718,700


$2,388,935


 +14




Average Sales Price/Sq. ft.


$696


 $692


 +1




Average DOM


137


 262


 -48






For more information on homes and land for sale in Pineapple Hill, please contact Courtney Brown, R(S)



 ]]> </description>
    <pubDate>Mon, 13 Sep 2021 14:50:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-market-statistics-august-2021.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-market-statistics-august-2021.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Maui Real Estate Market Statistics: August 2021</title>
    <description> <![CDATA[ 
Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market.


Along with the rest of the country, Maui's real estate market has been far more active than last year during the pandemic.  


The report notes &quot;New Listings remained flat for Single Family homes but decreased 48.0 percent for Condominium properties. Pending Sales increased 15.0 percent for Single Family homes and 31.5 percent for Condominium homes. Inventory decreased 45.1 percent for Single Family homes and 82.7 percent for Condominium homes.


Median Sales Price increased 30.2 percent to $1,040,000 for Single Family homes but decreased 2.0 percent to $650,000 for Condominium homes. Days on Market decreased 11.6 percent for Single Family homes and 44.4 percent for Condominium homes. Months Supply of Inventory decreased 59.1 percent for Single Family homes and 90.8 percent for Condominiumhomes.&quot;


As of the date of this post:


MAUI HOMES: ACTIVE LISTINGS, PENDING SALES, AND SALES THROUGH 7/31/2021


Active Listings: 183 homes from $549,000 in Wailuku to $26,000,000 for an oceanfront home for sale in MakenaPending: 240 homes from $294,900 to $12,900,000 for a home across the street from the ocean in MakenaSold: 930 homes from $220,000 to $45,000,000 (the highest sale recorded on Maui for a single-family home at Keawakapu Beach)


MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES THROUGH 7/31/2021


Active Listings:122 condos listed from $151,000 to $17,700,000 for a condominium at Wailea PointPending: 324 condos pending, ranging from $120,000 to $7,250,000 at the Andaz ResidencesSold: 1,687 condos sold, ranging from $75,000 Leasehold to $14,000,000 for a Wailea Beach Villas condominium


MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES THROUGH 7/31/2021


Active Listings: 106 lots from $250,000 to $16,850,000 for over 3000 acres of ranch land in KaupoPending: 69 lots from $170,000 to $7,500,000 for 464 acres in KulaSold: 274 lots from to $38,000 to $14,000,000 for Piiholo Ranch in Upcountry Maui


The days on market is down for both homes and land, but is up for land, which tends to be a slower-moving market on the whole, as it doesn't allow immediate use and enjoyment and the building process does take time.  The above summary is for Maui only and does not include properties on Molokai or Lanai.


Read the full report and see how it compares to prior years here: Maui Real Estate Statistics
 ]]> </description>
    <pubDate>Mon, 13 Sep 2021 14:26:00 -1000</pubDate>
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