<?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/2022-09/rss" rel="self" type="application/rss+xml" />
        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/2022-09/</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-the-vintage-at-kaanapali-q3-2022.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/market-spotlight-the-vintage-at-kaanapali-q3-2022.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Market Spotlight: The Vintage at Kaanapali</title>
    <description> <![CDATA[ 
Spotlight on the Vintage at Kaanapali: Market Update Q3 2022


The Vintage at Kaanapali is a popular resort community in the heart of the Kaanapali Resort.  





The Market at the Vintage: A Five-Year Perspective


The Vintage has been a popular choice for Maui buyers with approximately 15 of the total residences trading since 2020.  At the writing of this post, there are no active listings at the Vintage and only two sales to record in MLS in 2022.  The average sales price year to date is up +15 over 2021 and the high sales price is up 23.  


It's noteworthy with only two sales this year, the stats can be a bit confusing.  


Vintage 104 sold at 92 of asking at $1,200,000 after 496 days on the market.  This is a two-story cottage, unfurnished, with slightly obstructed views overlooking other buildings.Vintage 169 sold at 100 of asking at $1,995,000 with only 52 days on the market.  This was a single-story cottage, with great views and sold turn-key.






The Vintage


Q3 2022


2021


2020


2019


2018


2017




Sales


2


7


4


6


6


4




Volume


$3,195,000


$9,734,000


$4,573,000


$6,840,999


$6,445,000


$4,845,000




Low SP


$1,200,000


$1,110,000


$950,000


$890,999


$801,000


$1,050,000




High SP


$1,995,000


$1,620,000


$1,375,000


$1,425,000


$1,400,000


$1,345,000




Average SP


$1,597,500


$1,390,571


$1,143,250


$1,140,166


$1,074,166


$1,211,250




Average SP/Sq. Ft


$768


$693


$621


$610


$546


$588




Average DOM


274


87


$148


237


141


106




Average SP/LP


96


99


96


94


95


96






About the Vintage


The Vintage at Kaanapali is a small gated community comprised of 73 condominium cottages on 16.95 acres.  The free-standing cottages are either single or two stories, spacious lanais, and a two-car garage.  Golf carts are popular in the community as well, with access to the Kaanapali Resort just a short ride across a bridge and down to the shops and restaurants at Whaler's Village.  The property is desirable for buyers looking for the feel of a home without the responsibility of maintenance of a yard or pool.  


Amenities include a pool, spa and fitness room, along with a BBQ area.  





The Vintage at Kaanapali Condos for Sale



 ]]> </description>
    <pubDate>Fri, 30 Sep 2022 16:52:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/market-spotlight-montage-residences-kapalua-bay-september-15-2022.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/market-spotlight-montage-residences-kapalua-bay-september-15-2022.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 setting record highs for condominium sales in West Maui. 


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, 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.  These residences range from 1,750-2,087 sq. ft. 


When sales at the property first launched in 2009, the market was beginning to experience a downturn after the market's 2007/2008 peak.  For reference, the average sales price bottomed across the Kapalua Resort 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, 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 21 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.


View Current Listings of Montage Residences Kapalua Bay Condominiums


Quick Market Overview Montage Kapalua Bay Condo Listings:






ACTIVE LISTINGS


4




Volume


$24,295,000




Low LP


$3,800,000




High LP


$9,800,000




Average LP


$6,073,750




Average LP/Sq. Ft.


$2,263




Average DOM


319




 


 




PENDING SALES


0






Montage Kapalua Bay Condo Sales


View Recent Montage Residences Kapalua Bay Condo Sales






MONTAGE SALES


9.15.2022


2021


2020


2019


2018


2017


2016


2015


2014




Number of Sales


9


27


9


21


12


12


9


8


8




Sales Volume


$44,905,000


$128,678,533


$28,939,000


$86,445,000


$58,780,074


$54,388,000


$41,000,000


$40,770,000


$46,785,000




Low Sales Price


$3,000,000


$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 Sales Price


$8,000,000


$13,295,000


$4,159,000


$7,950,000


$8,950,000


$6,475,000


$8,650,000


$4,900,000


$8,250,000




Average Sales Price


$4,989,444


$4,765,872


$3,215,444


$4,116,429


$4,898,340


$4,532,333


$4,555,556


$4,530,000


$5,848,125




Average SP/Sq. Ft.


$1,999


$1,742


$1,407


$1,556


$1,572


$1,582


$1,516


$1,609


$1,735




Average DOM


132


152


170


173


230


100


147


168


68




Average SP/LP


97


98


99


97


100


99


99


100


99






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 $5,300,000 for a penthouse location. 


As of the date of this post, there have been 9 Residences to sell at the Montage Kapalua Bay, averaging $4.989M and a Year to Date volume of $44,904,000.  While the high sales price is down (which can be attributed to no 4B sales in 2022) the average sales price and sales price/sq. ft. have increased.


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 SalesIt is important to note the 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 and will skew the data in any given year that a sale occurs.   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 two in 2021 at $8,500,000 and $13,295,000, which set a new record sales price for West Maui's condominium sales.


In 2022, we are continuing to see resales maintain or reach new record highs, with a penthouse Hotel Residence in building 4 recording at $5,300,000 and a third floor Grand Residence in building 5 at $6,225,000.  The sale of an oceanfront Grand Residence in building 1 at $8,000,000 matches the record set in 2021.






Status


Building Name


Unit


List Price


Sold Price


SP/LP


Close Date


Beds


Baths


Liv-SF


DOM


$/SQFT


MLS 




SLD


Montage Residences Kapalua Bay


4301


$4,350,000


$4,350,000


100


1/11/22


3


3.5


2,065


22


$2,107


394113




SLD


Montage Residences Kapalua Bay


1302


$8,200,000


$8,000,000


98


1/14/22


3


3.5


2,904


25


$2,755


394122




SLD


Montage Residences Kapalua Bay


4305


$3,000,000


$3,000,000


100


1/21/22


3


3.5


2,087


51


$1,437


394451




SLD


Montage Residences Kapalua Bay


5103


$3,575,000


$3,150,000


88


2/10/22


3


3.5


2,904


106


$1,085


393468




SLD


Montage Residences Kapalua Bay


2704


$6,895,000


$6,800,000


99


2/16/22


3


3.5


2,789


61


$2,438


394115




SLD


Montage Residences Kapalua Bay


2204


$3,585,000


$3,580,000


100


4/29/22


3


3.5


2,789


632


$1,284


388025




SLD


Montage Residences Kapalua Bay


4606


$5,300,000


$5,300,000


100


5/2/22


3


3.5


2,065


163


$2,567


393779




SLD


Montage Residences Kapalua Bay


4201


$4,490,000


$4,500,000


100


6/7/22


3


3.5


2,065


54


$2,179


395451




SLD


Montage Residences Kapalua Bay


5301


$6,800,000


$6,225,000


92


6/21/22


3


3.5


2,904


78


$2,144


395341






View Current Montage Residences Kapalua Bay Condos for Sale:



 ]]> </description>
    <pubDate>Thu, 15 Sep 2022 14:27:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/introducing-322-cook-pine-home-site-in-pineapple-hill-kapalua.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/introducing-322-cook-pine-home-site-in-pineapple-hill-kapalua.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Introducing 322 Cook Pine: Home Site in Pineapple Hill, Kapalua</title>
    <description> <![CDATA[ 
Introducing 322 Cook Pine, one of the last remaining undeveloped lots in Pineapple Hill





An aerial overlooking 322 Cook Pine Drive, Pineapple Hill, Kapalua





The views are focused toward the channel between Molokai and Lanai, framing Maui's spectacular sunsets


This is a rare offering of one of the last undeveloped home sites in Pineapple Hill phase I. The Design Guidelines for Pineapple Hill require the owner utilize one of six approved floor plans for the lots, which may be modified.  However, it should be noted that the foot print must be maintained and any changes must be approved by the Architectural and Design Review Committee. 


Pineapple Hill is one of Kapalua's most popular residential communities.  A gated enclave developed in two sections, Pineapple Hill (phase I) Pineapple Hill Estates (phase II).  The first phase of Pineapple Hill are smaller homesites (typically around a quarter of an acre), whereas the homes in Pineapple HIll Estates are on larger lots (approximately a half acre). 


Loved for its location in the heart of the Kapalua Resort, Pineapple Hill is close to restaurants, beaches, and golf, as well as the restaurants and offerings at the Ritz-Carlton, Kapalua and Montage Kapalua Bay hotels. Amenities include tennis and pickleball courts, a pool, an owner’s pavilion, full-time resident manager, and roving resort security.


When the two phases are combined, there are 130 homesites, however, several owners in the first phase of Pineapple Hill built homes on double lots, and one, which sold in 2021, was built on three lots.  There are only five lots in phase I and only three lots in phase II that have not yet been developed.


The Market at Pineapple Hill


At the time of this post, there are just three homes listed for sale in Pineapple Hill and Pineapple Hill Estates, with asking prices ranging from $4,995,000 to $6,495,000. 


Year to date we have had half the sales of 2021 at the beginning of the third quarter, however, the average sales price is significantly higher.  This is due, in part, to the closing of two custom homes that were built on double lots in Phase I.  314 Cook Pine and 1216 Summer, each closed at $7,900,000, thus raising the average sales price significantly.


In vacant land, there are three lots listed for sale, two are located in phase I another in Pineapple Hill Estates.  Year to date, five lots have sold and all are located in phase I, with lot sizes ranging from .23 to .36 acres.  624 Silversword, a fantastic view lot in phase I, closed at a record high $1,500,000.  This is compared with two lots selling in 2021, which were both larger home sites (.45-.48 acres) located in Pineapple Hill Estates (phase II), which commanded higher prices, so the average sales price was higher last year.


Current Home and Land Listings






Type


Status


Address


Original Price


L Price


Beds


Baths


Sq. Ft.


Acres


$/Sq. Ft.


DOM


MLS 




Vacant Land


ACT


322 Cook Pine Dr


$1,075,000


$1,075,000


 


 


 


0.23


$109


5


396852




Vacant Land


ACT


1010 Sunset Pl


$1,100,000


$1,100,000


 


 


 


0.26


$97


67


396358




Vacant Land


ACT


103 Pulelehua St


$1,895,000


$1,895,000


 


 


 


0.48


$92


78


396196




Single Family


ACT


1000 Sunset Pl


$4,550,000


$4,550,000


4


4.5


3,386


0.31


$1,344


1


396884




Single Family


ACT


116 Pulelehua St


$4,995,000


$4,995,000


4


4.5


4,081


0.47


$1,224


2


396881




Single Family


ACT


222 Crestview Rd


$6,495,000


$6,495,000


4


4.5


4,265


0.48


$1,523


31


396647






Pineapple Hill Home Sales: A 5 year historical perspective






HOMES SOLD


9.6.2022


2021


2020


2019


2018


2017




Number of Sales


7


15


10


 15


4


6




Volume


$35,575,000


$46,012,500


$27,187,000


$35,834,020


$9,550,000


$15,145,000




Low Sales Price


$2,750,000


$2,062,500


$1,600,000


$1,489,020


$1,970,000


$1,750,000




High Sales Price


$7,900,000


$4,850,000


$3,750,000


$3,200,000


$2,680,000


$3,550,000




Average SP


$5,082,142


$3,067,500


$2,718,700


$2,388,935


$2,387,500


$2,524,167




Average SP/Sq. ft.


$1,023


$768


$696


 $692


$588


$680




Average DOM


134


160


137


 262


325


219




Average SP/LP


93


95


95


94


92


93






Pineapple Hill Land Sales: A 5 year historical perspective






LAND SOLD


9.6.2022


2021


2020


2019


2018


2017




Number of Sales


5


2


1


0


0


0




Low Sales Price


$879,000


$1,195,000


$950,000


NA


NA


NA




High Sales Price


$1,500,000


$1,305,000


$950,000


NA


NA


NA




Average Sales Price


$1,157,400


$1,250,000


$950,000


NA


NA


NA




Average SP/Sq. ft.


$101


$62


$87


NA


NA


NA




Average DOM


203


143


314


NA


NA


NA




Average SP/LP


100


100


90


NA


NA


NA






For more information on Pineapple Hill and other residential offerings in the Kapalua Resort, please contact Courtney M. Brown, R(S)


Pineapple Hill &amp; Pineapple Hill Estates Homes for Sale



 ]]> </description>
    <pubDate>Tue, 06 Sep 2022 13:25:00 -1000</pubDate>
</item>
    </channel>
</rss>