<?xml version="1.0" encoding="UTF-8" ?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
    <channel>
        <atom:link href="http://www.luxuryrealestatemaui.com/blog/2021-12/rss" rel="self" type="application/rss+xml" />
        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/2021-12/</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/kapalua-condominiums-2021-year-end-update.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kapalua-condominiums-2021-year-end-update.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kapalua Condominiums: 2021 Year End Update</title>
    <description> <![CDATA[ 



Kapalua Condominium Sales: 2021 Year End Report


Kapalua is home to several different condominium communities, with offerings ranging from one to four-bedroom condominiums.  The Kapalua Bay Villas, Kapalua Ironwoods, The Coconut Grove on Kapalua Bay, the Montage Residences Kapalua Bay and the Ritz-Carlton Kapalua Residences are all oceanfront properties nestled along the Kapalua Resort's spectacular shoreline.  The Kapalua Ridge Villas and Kapalua Golf Villas both are located on the Kapalua Bay Course with ocean and golf course views.


Key Figures for Kapalua Condo Sales in 2021 by Complex






Key Stats


Coconut Grove


The Ironwoods


Kapalua Bay Villas


Kapalua Golf Villas


Kapalua Ridge Villas


Montage Residences


Ritz-Carlton Residences




Total Units in Complex


36


40


141


186


161


112


107




2021 Sales


6


5


30


44


28


27


5




 Complex to Sell


17


13


21


24


17


24


5




Sales Volume


$29,000,000


$17,020,000


$41,089,500


$42,071,750 


$31,301,998


$128,678,533


$9,655,000




Low Sales Price


$3,700,000


$1,500,000


$755,000


$600,000 


$775,000


$2,695,000


$945,000




High Sales Price


$6,250,000


$4,150,000


$2,900,000


$1,400,000 


$1,700,000


$13,295,000


$2,800,000




Average Sales Price


$4,833,333


$3,404,000


$1,369,650


$956,176 


$1,117,929


$4,765,872


$1,931,000




Average SP/Sq. Ft.


$1,883


$1,634


$1,104


$856 


$813


$1,742


$1,446




Average DOM


154


320


232


122


165


152


448




Average SP/LP


97


92


97


99


97


98


97






How does 2021 stack up at each community?A five year comparison as well as the change from 2020 to 2021


Coconut Grove on Kapalua Bay






Coconut Grove


2021


2020


2019


2018


2017


Change Over 2017




Number of Sales


6


0


0


0


4


50




Sales Volume


$29,000,000


0


0


0


$18,950,000


53




Low Sales Price


$3,700,000


NA


NA


NA


$4,500,000


18




High Sales Price


$6,250,000


NA


NA


NA


$5,000,000


25




Average Sales Price


$4,833,333


NA


NA


NA


$4,737,500


2




Average SP/Sq. Ft.


$1,883


NA


NA


NA


$1,866


1




Average DOM


154


NA


NA


NA


64


141




Average SP/LP


97


NA


NA


NA


95


2






Kapalua Ironwoods






Kapalua Ironwoods


2021


2020


2019


2018


2017


Change Over 2020




Number of Sales


5


4


1


1


0


25




Sales Volume


$17,020,000


$12,050,000


$2,300,000


$3,000,000


0


41




Low Sales Price


$1,500,000


$1,150,000


$2,300,000


$3,000,000


NA


30




High Sales Price


$4,150,000


$4,200,000


$2,300,000


$3,000,000


NA


1




Average Sales Price


$3,404,000


$3,012,500


$2,300,000


$3,000,000


NA


13




Average SP/Sq. Ft.


$1,634


$1,412


$1,065


$1,391


NA


16




Average DOM


320


124


671


204


NA


158




Average SP/LP


92


88


93


92


NA


4






Kapalua Bay Villas






Kapalua Bay Villas


2021


2020


2019


2018


2017


Change Over 2020




Number of Sales


30


7


14


7


11


329




Sales Volume


$41,089,500


$7,538,000


$15,032,500


$7,621,250


$11,758,800


445




Low Sales Price


$755,000


$675,000


$800,000


$800,000


$725,000


12




High Sales Price


$2,900,000


$1,900,000


$1,485,000


$1,600,000


$1,725,000


53




Average Sales Price


$1,369,650


$1,076,857


$1,073,750


$1,088,750


$1,068,982


27




Average SP/Sq. Ft.


$1,104


$876


$287


$872


$882


26




Average DOM


232


149


287


258


287


55




Average SP/LP


97


92


93


95


93


5






Kapalua Golf Villas






Kapalua Golf Villas


2021


2020


2019


2018


2017


Change over 2020




Sales


44


9


9


13


21


389




Volume


$42,071,750 


$7,441,500 


$15,248,872 


$10,645,400 


$15,900,099 


6912




Low SP


$600,000 


$600,000 


$595,000 


$575,000 


$530,000 


50




High SP


$1,400,000 


$1,200,000 


$1,010,000 


$1,200,000 


$960,000 


69




Average SP


$956,176 


$826,833 


$802,572 


$818,877 


$757,148 


16




Average SP/Sq. Ft


$856 


$749 


$677 


$678 


$694 


14




Average DOM


122


124


165


155


351


-2




SP/LP


99


94


97


98


96


5






Kapalua Ridge Villas






Kapalua Ridge Villas


2021


2020


2019


2018


2017


Change over 2020




Sales


28


8


6


6


2


250




Volume


$31,301,998


$8,776,500


$4,904,000


$6,090,500


$2,400,000


4716




Low SP


$775,000


$650,000


$650,000


$849,000


$950,000


48




High SP


$1,700,000


$1,487,500


$1,487,500


$1,487,500


$1,450,000


55




Average SP


$1,117,929


$1,097,063


$817,333


$1,097,063


$1,200,000


2




Average SP/Sq. Ft


$813


$701


$653


$701


$762


16




Average DOM


165


222


253


230


164


-26




SP/LP


97


96


96


97


97


1






Montage Residences Kapalua Bay






Montage Residences Kapalua Bay


2021


2020


2019


2018


2017


Change Over 2020




Number of Sales


27


9


21


12


12


200




Sales Volume


$128,678,533


$28,939,000


$86,445,000


$58,780,074


$54,388,000


345




Low Sales Price


$2,695,000


$2,750,000


$2,400,000


$3,495,000


$3,125,000


2




High Sales Price


$13,295,000


$4,159,000


$7,950,000


$8,950,000


$6,475,000


220




Average Sales Price


$4,765,872


$3,215,444


$4,116,429


$4,898,340


$4,532,333


48




Average SP/Sq. Ft.


$1,742


$1,407


$1,556


$1,572


$1,582


24




Average DOM


152


170


173


230


100


-11




Average SP/LP


98


99


97


100


99


2






Ritz-Carlton Kapalua Residences 






Ritz-Carlton Residences, Kapalua


2021


2020


2019


2018


2017


Change Over 2020




Number of Sales


5


3


1


6


3


67




Sales Volume


$9,655,000


$3,872,500


$900,000


$6,694,888


$4,701,888


149




Low Sales Price


$945,000


$735,000


$900,000


$830,000


$790,000


29




High Sales Price


$2,800,000


$2,300,000


$900,000


$1,400,000


$2,100,000


22




Average Sales Price


$1,931,000


$1,290,833


$900,000


$1,115,815


$1,567,296


50




Average SP/Sq. Ft.


$1,446


$1,065


$1,034


$1,093


$1,233


36




Average DOM


448


216


203


207


262


108




Average SP/LP


97


88


92


90


94


10






 


For more detailed information on the market at each of these Kapalua condominium communities, please contact Courtney M. Brown





Note: care is taken with compiling the data and information, but is subject to change and does not include private transactions not in MLS.
 ]]> </description>
    <pubDate>Fri, 31 Dec 2021 17:16:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/market-spotlight-montage-residences-kapalua-bay-121621.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/market-spotlight-montage-residences-kapalua-bay-121621.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Market Spotlight: Montage Residences, Kapalua Bay</title>
    <description> <![CDATA[ 
Market Spotlight: Montage Residences Kapalua Bay





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 26 Residences to sell at the Montage Kapalua Bay, averaging $4.437M and a Year to Date volume of $115,383,533 with another $13,295,000 in pending sales in MLS.  This represents a dramatic 299 increase over 2020's total sales volume ($) and a 147 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:






ACTIVE LISTINGS


4




Volume


$24,265,000




Low LP


$3,525,000




High LP


$8,500,000




Average LP


$4,925,000




Average LP/Sq. Ft.


$1,824




Average DOM


223






Montage Residences Kapalua Bay Pending Sales






PENDING SALES


1




Volume


$13,295,000




Average LP/Sq. Ft.


$6,618




Average DOM


38






Montage Kapalua Bay Condo Sales


View Recent Montage Residences Kapalua Bay Condo Sales






Montage Residences 


2021 YTD


2020


2019


2018


2017


2016


2015


2014




Sales


26


9


21


12 


12


9


9


8




Volume


$115,383,533


$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


$4,437,828


$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


$1,683


$1,407


$1,566


$1572 


$1,582


$1,516


$1,609


$1,735




Average DOM


156


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 of developer inventory 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.  With a pending sale of its first four-bedroom resale, Residence 1301 listed at $13,295,000, the Montage Residences Kapalua Bay is set to break a new record sales price for West Maui's condominium sales.


We are also starting to see resales in buildings 1 and 2, as well as high floors in building 5, reach new record highs, with a three-bedroom residence recording at $8,000,000 in October of 2021.






Status


Building Name


Unit


List Price


Sold Price


Close Date


Beds


Baths


Liv-SF


DOM


Price Per SQFT


MLS 




SLD


Montage Residences Kapalua Bay


6301


$2,995,000


$2,995,000


2/4/21


3


3.5


2,904


29


$1,031


389853




SLD


Montage Residences Kapalua Bay


5404


$5,990,000


$5,800,000


2/5/21


3


3.5


2,789


174


$2,080


388541




SLD


Montage Residences Kapalua Bay


2403


$6,100,000


$6,100,000


3/9/21


3


3.5


2,904


106


$2,101


389402




SLD


Montage Residences Kapalua Bay


4503


$3,395,000


$3,395,000


3/11/21


3


3.5


2,065


375


$1,644


382707




SLD


Montage Residences Kapalua Bay


6302


$3,395,000


$3,300,000


4/6/21


3


3.5


2,789


79


$1,183


389980




SLD


Montage Residences Kapalua Bay


5201


$4,590,000


$4,550,000


5/11/21


3


3.5


2,904


322


$1,567


387472




SLD


Montage Residences Kapalua Bay


4405


$2,995,000


$2,995,000


5/13/21


3


3.5


2,087


378


$1,435


386881




SLD


Montage Residences Kapalua Bay


5304


$5,600,000


$5,450,000


5/27/21


3


3.5


2,789


115


$1,954


390192




SLD


Montage Residences Kapalua Bay


2402


$4,899,999


$4,700,000


6/17/21


3


3.5


2,904


232


$1,618


389092




SLD


Montage Residences Kapalua Bay


2101


$8,500,000


$8,500,000


6/22/21


4


4.5


4,055


160


$2,096


389932




SLD


Montage Residences Kapalua Bay


6102


$2,695,000


$2,695,000


7/9/21


3


3.5


2,789


64


$966


391378




SLD


Montage Residences Kapalua Bay


4403


$2,950,000


$2,823,533


7/15/21


3


3.5


2,065


65


$1,367


391451




SLD


Montage Residences Kapalua Bay


3301


$3,050,000


$3,050,000


7/19/21


3


3.5


2,065


29


$1,477


392360




SLD


Montage Residences Kapalua Bay


5101


$4,395,000


$4,345,000


7/19/21


3


3.5


2,904


73


$1,496


391398




SLD


Montage Residences Kapalua Bay


2404


$4,145,000


$4,145,000


7/30/21


3


3.5


2,789


74


$1,486


391521




SLD


Montage Residences Kapalua Bay


2302


$4,198,888


$3,800,000


8/6/21


3


3.5


2,904


431


$1,309


387848




SLD


Montage Residences Kapalua Bay


3203


$2,750,000


$2,750,000


8/12/21


3


3.5


2,065


30


$1,332


392615




SLD


Montage Residences Kapalua Bay


4505


$3,395,000


$3,395,000


8/19/21


3


3.5


2,087


175


$1,627


390528




SLD


Montage Residences Kapalua Bay


5104


$2,895,000


$2,895,000


8/24/21


3


3.5


2,789


231


$1,038


389838




SLD


Montage Residences Kapalua Bay


4304


$2,750,000


$2,750,000


9/7/21


2


2.5


1,750


75


$1,571


392926




SLD


Montage Residences Kapalua Bay


1205


$6,975,000


$6,200,000


9/29/21


3


3.5


2,789


429


$2,223


387915




SLD


Montage Residences Kapalua Bay


1305


$8,295,000


$8,000,000


10/1/21


3


3.5


2,789


30


$2,868


392838




SLD


Montage Residences Kapalua Bay


3405


$3,000,000


$3,000,000


10/6/21


3


3.5


2,087


43


$1,437


393227




SLD


Montage Residences Kapalua Bay


2604


$5,995,000


$5,550,000


11/19/21


3


3.5


2,789


291


$1,990


390196




SLD


Montage Residences Kapalua Bay


4501


$5,100,000


$4,775,000


12/13/21


3


3.5


2,065


23


$2,312


393780




SLD


Montage Residences Kapalua Bay


1302


$7,399,000


$7,425,000


12/15/21


3


3.5


2,904


25


$2,557


393777






View Current Montage Residences Kapalua Bay Condos for Sale:



 ]]> </description>
    <pubDate>Thu, 16 Dec 2021 17:50:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/market-spotlight-wailea-beach-villas-121621.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/market-spotlight-wailea-beach-villas-121621.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Market Spotlight: Wailea Beach Villas</title>
    <description> <![CDATA[ 
Market Spotlight: Wailea Beach Villas





The boutique condominium property at Wailea Beach Villas is one of Wailea's most desirable communities.  The Wailea Beach Villas is a gated community with 99 residences in 9 buildings situated on 10.7 acres.  The hotel zoning allows vacation rentals, which makes it a popular option for owners that want to offset their operating expenses when not in residence.  The spacious residences combined with a variety of amenities and tropically landscaped grounds accented by tiki torches have garnered awards and accolades from Conde Nast, TripAdvisor, Booking.com, and Trivago.  Guests have access to two pools, a fitness center, a business center, billiards and game room, concierge service, and one of Maui's most beautiful beaches: Wailea Beach which it shares with the Grand Wailea, Four Seasons, and Wailea Point. It is adjacent to the Shops at Wailea, making it easy to enjoy many of Wailea's most popular shops and restaurants.  


Wailea Beach Villas Current Listings


New to the market, and the only listing at the time of this post, is D101 which is listed at $12,500,000.  D Building sits in the center of the property, just behind buildings A and B, which are oceanfront.  This is a ground-floor three bedroom residence, which includes a garage for a single car.  This is one of the few residences with a plunge pool surrounded by a tropically landscaped yard.  It is listed at 4,327/sq. ft.


View Map of Wailea Beach Villas


Wailea Beach Villas Recent Sales






Status


Building Name


Unit


List Price


Sold Price


Close Date


Beds


Baths


Liv-SF


DOM


Price Per SQFT


MLS 




SLD


Wailea Beach Villas


PH-401


$5,475,000


$5,000,000


3/31/21


3


3


2,180


391


$2,294


386323




SLD


Wailea Beach Villas


G101


$3,950,000


$3,825,000


4/1/21


3


3.5


2,889


168


$1,324


388955




SLD


Wailea Beach Villas


PH111


$2,750,000


$2,600,000


4/7/21


2


2


1,899


85


$1,369


389935




SLD


Wailea Beach Villas


G-301


$7,195,000


$6,950,000


4/30/21


3


3.5


2,863


87


$2,428


390215




SLD


Wailea Beach Villas


A102


$14,250,000


$14,000,000


5/13/21


3


3.5


2,931


58


$4,777


390754




SLD


Wailea Beach Villas


C-101


$5,288,800


$5,100,000


5/21/21


3


3.5


2,889


49


$1,765


390978




SLD


Wailea Beach Villas


510


$4,595,000


$4,575,000


6/10/21


2


2


1,978


99


$2,313


390601




SLD


Wailea Beach Villas


511


$5,500,000


$5,500,000


6/10/21


2


2


1,978


29


$2,781


391833




SLD


Wailea Beach Villas


E302


$8,900,000


$8,900,000


7/14/21


3


3.5


2,934


59


$3,033


392320




SLD


Wailea Beach Villas


PH-104


$2,625,000


$2,485,000


7/15/21


2


2


1,978


364


$1,256


387787




SLD


Wailea Beach Villas


308


$5,995,000


$5,995,000


8/2/21


3


3


2,893


252


$2,072


389400




SLD


Wailea Beach Villas


105


$3,595,000


$3,595,000


8/25/21


3


3


1,961


58


$1,833


392136




SLD


Wailea Beach Villas


C102


$10,200,000


$10,200,000


11/12/21


3


3.5


2,931


83


$3,480


393652






Wailea Beach Villas Historical Perspective






Wailea Beach Villas 


2021 YTD


2020


2019


2018


2017


2016




Sales


13


5


1


12


9


2




Volume


$78,725,000


$19,944,000


$4,600,000


$55,626,500


$30,258,999


$4,300,000




Low SP


$2,485,000


$2,500,000


$4,600,000


$2,185,000


$2,225,000


$2,125,000




High SP


$14,000,000


$6,895,000


$4,600,000


$10,000,000


$5,999,999


$2,150,000




Average SP


$6,055,769


$3,988,800


$4,600,000


$4,635,541


$3,362,111


$2,175,000




Average SP/Sq. Ft


$2,363


$1,534


$2,110


$1,831


$1,552


$1,087




Average DOM


137


180


336


177


224


137






Comments: Wailea Beach Villas is a smaller property and a very desirable one, so there aren't usually a lot of listings to sell in a given year. Looking back 5 years, there are three years with fewer than five sales.  The sales volume has increased exponentially over 2020, with a 160 increase in the number of sales, and a $295 increase in the sales volume ($).  The low sales price remained steady, but the high sales price increased 103.  


For more information on the Wailea Beach Villas condos for sale, contact Courtney M Brown, R(S) with Island Sotheby's International  Realty


View Wailea Beach Villas for Sale



 ]]> </description>
    <pubDate>Thu, 16 Dec 2021 17:27:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-statistics-november-2021.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-statistics-november-2021.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Maui Real Estate Statistics: November, 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 increased 2.9 percent for Single Family homes and 9.4 percent for Condominium homes. Pending Sales increased 14.0 percent for Single Family homes and 18.1 percent for Condominium homes. Inventory decreased 51.3 percent for Single Family homes and 81.4 percent for Condominium homes.


Median Sales Price increased 16.0 percent to $989,000 for Single Family homes and 29.3 percent to $725,000 for Condominium homes. Days onMarket increased 3.6 percent for Single Family homes but decreased 42.6 percent for Condominium homes. Months Supply of Inventory decreased 63.4 percent for Single Family homes and 90.1 percent for Condominium homes.&quot;


There is a slight dip in the active inventory as of the date of this post, December 13, 2021--this is not unusual as in prior years, the first two weeks of December tend to be slow for travel and many listings launch closer to the end of the new year.


MAUI HOMES: ACTIVE LISTINGS, PENDING SALES, AND SALES 


Active Listings: 160 homes from $550,000 in Wailuku to $26,000,000 for an oceanfront home for sale in MakenaPending: 200 homes from $390,000 Leasehold in Kula to $19,888,000 for an estate in Kaimanu Estates in South MauiSold: 1,245 homes from $220,000 in Wailuku to $78,000,000 in Makena.  This is the highest sale recorded on Maui, which was purchased by Jeff Bezos in an off market deal which is reported to also include corporate holdings.  Prior to that, the high sale this year was $45,000,000 for a home at Keawakapu Beach.


MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES 


Active Listings:121 condos listed from $149,000 Leasehold to $17,000,000 for a condominium at Sugar Cove in PaiaPending: 349 condos pending, ranging from $14,000,000 to $17,770,000 at Wailea PointSold: 2,149 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 


Active Listings: 90 parcels from $375,000 in Wailuku to $16,850,000 for over 3000 acres of ranch land in KaupoPending: 49 lots from $155,000 in Wailuku to $12,730,000 for land in KiheiSold: 299 lots from to $38,000 to $14,000,000 for Piiholo Ranch in Upcountry Maui


*Molokai and Lanai are not included in the above summaries, although they are a part of Maui County.


Read the full report and see how it compares to prior years here: Maui Real Estate Statistics


 


 
 ]]> </description>
    <pubDate>Mon, 13 Dec 2021 12:56:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/market-spotlight-montage-residences-kapalua-bay-12321.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/market-spotlight-montage-residences-kapalua-bay-12321.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Market Spotlight: Montage Residences Kapalua Bay</title>
    <description> <![CDATA[ 
Market Spotlight: Montage Residences Kapalua Bay





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 24 Residences to sell at the Montage Kapalua Bay, averaging $4.299M and a Year to Date volume of $103,183,553 with another $31,094,000 in pending sales in MLS.  This represents a dramatic 257 increase over 2020's total sales volume ($) and a 121 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:






ACTIVE LISTINGS


4




Volume


$14,820,000




Low LP


$3,525,000




High LP


$3,995,000




Average LP


$3,705,000




Average LP/Sq. Ft.


$1,428




Average DOM


270






Montage Residences Kapalua Bay Pending Sales






PENDING SALES


4




Volume


$3,109,400




Low LP


$5,100,000




High LP


$31,094,000




Average LP


$7,773,500




Average LP/Sq. Ft.


$2,716




Average DOM


16






Montage Kapalua Bay Condo Sales


View Recent Montage Residences Kapalua Bay Condo Sales






Montage Residences 


2021 YTD


2020


2019


2018


2017


2016


2015


2014




Sales


24


9


21


12 


12


9


9


8




Volume


$103,183,533


$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


$4,299,314


$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


$1,621


$1,407


$1,566


$1572 


$1,582


$1,516


$1,609


$1,735




Average DOM


167


169


172


229


100


147


168


67






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. 


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

Low SalesThe low sales price would have been at its peak in 2014, when buyers of developer inventory 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.  With a pending sale of its first four-bedroom resale, Residence 1301 listed at $13,295,000, the Montage Residences Kapalua Bay is set to break a new record sales price for West Maui's condominium sales.


We are also starting to see resales in buildings 1 and 2, as well as high floors in building 5, reach new record highs, with a three-bedroom residence recording at $8,000,000 in October of 2021.






Status


Property


Unit


List Price


Sold Price


Close Date


Beds


Baths


Liv-SF


DOM


Price Per SQFT


MLS 




SLD


Montage Residences Kapalua Bay


1503


$5,735,000


$5,735,000


8/24/10


3


3.5


3,125


438


$1,835


344804




SLD


Montage Residences Kapalua Bay


1101


$7,750,000


$7,750,000


8/22/14


4


4.5


4,055


46


$1,911


361311




SLD


Montage Residences Kapalua Bay


1401


$8,250,000


$8,250,000


8/22/14


4


4.5


4,055


46


$2,035


361310




SLD


Montage Residences Kapalua Bay


2401


$7,500,000


$7,500,000


8/25/14


4


4.5


4,055


49


$1,850


361312




SLD


Montage Residences Kapalua Bay


1301


$8,650,000


$8,650,000


9/7/16


4


4.5


4,055


123


$2,133


369494




SLD


Montage Residences Kapalua Bay


1505


$6,700,000


$6,475,000


6/7/17


3


3.5


2,789


55


$2,322


374387




SLD


Montage Residences Kapalua Bay


2301


$7,750,000


$7,750,000


5/4/18


4


4.5


4,055


395


$1,911


373607




SLD


Montage Residences Kapalua Bay


1201


$8,950,000


$8,950,000


9/25/18


4


4.5


4,055


173


$2,207


378049




SLD


Montage Residences Kapalua Bay


1405


$7,875,000


$7,250,000


6/14/19


3


3.5


2,789


137


$2,600


381518




SLD


Montage Residences Kapalua Bay


1102


$6,495,000


$5,800,000


6/17/19


3


3.5


2,904


111


$1,997


381899




SLD


Montage Residences Kapalua Bay


2201


$7,950,000


$7,950,000


6/28/19


4


4.5


4,055


266


$1,961


380112




SLD


Montage Residences Kapalua Bay


5404


$5,990,000


$5,800,000


2/5/21


3


3.5


2,789


174


$2,080


388541




SLD


Montage Residences Kapalua Bay


2403


$6,100,000


$6,100,000


3/9/21


3


3.5


2,904


106


$2,101


389402




SLD


Montage Residences Kapalua Bay


2101


$8,500,000


$8,500,000


6/22/21


4


4.5


4,055


160


$2,096


389932




SLD


Montage Residences Kapalua Bay


1205


$6,975,000


$6,200,000


9/29/21


3


3.5


2,789


429


$2,223


387915




SLD


Montage Residences Kapalua Bay


1305


$8,295,000


$8,000,000


10/1/21


3


3.5


2,789


30


$2,868


392838




SLD


Montage Residences Kapalua Bay


2604


$5,995,000


$5,550,000


11/19/21


3


3.5


2,789


291


$1,990


390196






View Current Montage Kapalua Residences for Sale:



 ]]> </description>
    <pubDate>Fri, 03 Dec 2021 12:49:00 -1000</pubDate>
</item>
    </channel>
</rss>