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        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/2022-11/</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>
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    <guid>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-statistics-october-2022.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-statistics-october-2022.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Maui Real Estate Statistics: October 2022</title>
    <description> <![CDATA[ 



Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market.  The report notes


&quot;Existing home sales declined nationwide for the eighth consecutive month, falling 1.5 as of last measure, according to the National Association of REALTORS® (NAR), with sales down nearly 24 from the same period last year. Pending home sales also declined, dropping 10.9 month-to-month, exceeding economists’ expectations. Stubbornly high inﬂation and soaring borrowing costs have eroded buyer purchasing power and have caused the market to cool rapidly this year.


New Listings decreased 15.3 percent for Single Family homes and 50.0 percent for Condominium homes. Pending Sales decreased 52.4 percent for Single Family homes and 54.0 percent for Condominium homes. Inventory increased 29.7 percent for Single Family homes and 7.4 percent for Condominium homes.


Median Sales Price increased 13.5 percent to $1,056,000 for Single Family homes and 19.0 percent to $800,000 for Condominium homes. Days on Market increased 44.0 percent for Single Family homes and 5.0 percent for Condominium homes. Months Supply of Inventory increased 88.9 percent for Single Family homes and 62.5 percent for Condominium homes.


The US housing market is undergoing a major shift, and affordability continues to be an obstacle for buyers and sellers. Mortgage rates have doubled since March, and home prices remain elevated due to a limited supply of homes, although price gains are slowing at a quickening pace. As a result, many homeowners are waiting until market conditions improve to sell their home, while other sellers are increasingly cutting prices and offering concessions to attract a greater number of buyers. Affordability challenges have priced many buyers out of the market this year, and buyers who do succeed in purchasing a home are finding that the costs of homeownership have increased significantly, with monthly mortgage payments more than 55 higher than a year ago, according to the National Association of REALTORS®. Inventory remains lower than normal, and as the market continues to shift, experts project homes will begin to spend more days on market and price growth will slow in the months ahead.&quot;


It seems as if the frenzy of 2021 is behind us, though locations with great views in excellent condition are still commanding the interest of buyers. The South Maui resorts of Wailea and Makena continue to command the highest condominium sales prices, though the Montage Residences, Kapalua Bay are not far behind.


MAUI HOMES: ACTIVE LISTINGS, PENDING SALES, AND SALES*


Active Listings: 234 homes from $590,000 Leasehold in Upcountry Maui to $41,900,000 for 9 Bay Drive, an oceanfront home for sale in KapaluaPending: 115 homes from $390,000 Leasehold in Kula to $35,000,000 for an oceanfront home in MakenaSold: 879 homes from $230,000 in Wailuku to $28,500,000 for a home located in One Palau'ea Bay.  This compares with 2021 where the high sale was $78,000,000, paid by Jeff Bezos in an off market deal which is reported to also include corporate holdings.  Prior to that, the high sale for 2021 was $45,000,000 for a home at Keawakapu Beach.


MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES 


Active Listings:177 condos listed from $265,000 to $18,000,000 for a double residence at Wailea PointPending: 195 condos pending, ranging from $159,000 to $6,500,000 at Ho'olei in WaileaSold: 1267 condos sold, ranging from $67,500 Leasehold to $12,000,000 for a Wailea Beach Villa


MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES 


Active Listings: 101 parcels from $25,000 in Wailuku to $75,000,000 for over 3546 acres for Hana RanchPending: 33 lots from $150,000 in Keanae to $16,850,000 for over 3000 acres of ranch land in KaupoSold: 155 lots from to $155,000 in Wailuku to $12,000,000 for a multi-acre parcel development in South Maui.


*Molokai and Lanai are not included in the above summaries, although they are a part of Maui County.  This data is taken from the MLS on on the date of this post, 11/17/2022.


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

 


 
 ]]> </description>
    <pubDate>Thu, 17 Nov 2022 12:25:00 -1000</pubDate>
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    <guid>http://www.luxuryrealestatemaui.com/blog/kapalua-residential-update-november-1-2022.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kapalua-residential-update-november-1-2022.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kapalua Residential Update: November 1, 2022</title>
    <description> <![CDATA[ 
Kapalua Resort, Maui: residential market update


Featured: 222 Crestview, a home for sale in Pineapple Hill, is listed by Courtney M. Brown


Kapalua Homes for Sale: Active and Pending Listings


Kapalua is comprised of several distinct communities, yet all flow together due to strong architectural and design guidelines: Pineapple Hill &amp; Pineapple Hill Estates, Mahana Estates, Honolua Ridge, Plantation Estates Phases I and II, and Kapalua Place.  There are also three homes on oceanfront points within the Resort that aren't a part of a formal subdivision.


At the time of this post, there are just seven active listings and no pending sales.


Kapalua Homes for Sale:





Homes for sale in Kapalua range from $4,250,0000 to $41,900,000.  They include four homes in Pineapple Hill &amp; Pineapple Hill Estates, two in Plantation Estates and 9 Bay Drive, which is situated on an oceanfront peninsula overlooking Namalu Bay and neighbors the Montage Residences at Kapalua Bay.   


Kapalua Resort Home Sales YTD 2022 vs. Prior Years





In 2022, we are seeing a trend toward longer days on market and a higher sales price/sq. ft.  That said when looking at the sales statistics, it's important to note some differences.


Summary of Homes Sold in 2022





The average sales price to list price is 97.  There have been some sales at 100 of asking or above.  For example, newly constructed homes at Mahana Estates and two turn-key homes in Pineapple Hill and Pineapple Hill Estates.  There have also been homes to sell below asking, which tend to be older homes in Pineapple Hill and Plantation Estates, where some updates may be needed or desired, sold at 89-92 of asking. 


Note these figures do not include homes or land that aren't part of the Kapalua Resort Association


Kapalua's Residential Communities


PINEAPPLE HILL &amp; PINEAPPLE HILL ESTATES


The four home listings in Pineapple Hill range from $4,250,000 to $6,495,000.  There have been seven home sales in Pineapple Hill that have ranged from $2,750,000 to $7,900,000.


There are three lot listings ranging from $1,075,000 to $1,895,000.  There have been five lot sales ranging from $879,000 to $1,500,000.


View Pineapple Hill &amp; Pineapple Hill Estates Homes for Sale


View Pineapple Hill &amp; Pineapple Hill Estates Land for Sale


PLANTATION ESTATES AT KAPALUA


There are two homes listed at $12,300,000 and $24,900,000.  There have been four sales this year, ranging from $5,425,000 to $7,500,000.


There are two lots listed at $1,795,000 and $2,250,000.  There have been three sales this year, ranging from $845,000 to $3,700,000 for a lot along the 18th fairway.


View Plantation Estates Homes for Sale


View Plantation Estates Land for Sale


HONOLUA RIDGE


In Honolua Ridge, there are no active home listings and there has been one home to sell at $5,300,000.


There is one lot listed at $2,950,000 and there have been six lot sales ranging from $1,163,000 to $2,795,000.


View Honolua Ridge Homes for Sale


View Honolua Ridge Land for Sale


MAHANA ESTATES


There are no active home listings at this time.  There have been two sales ranging from $4,750,000 to $4,800,000.


There are two lots listed at $1,895,000 and at $2,300,000.  There have been four lot sales ranging from $1,200,000 to $1,945,000.


View Mahana Estates Homes for Sale


View Mahana Estates Land for Sale


There are no active lot listings in Mahana Estates at the time of this post.


KAPALUA PLACE &amp; OCEANFRONT HOMES


There is just one oceanfront home for sale in the Resort: 9 Bay Drive at $41,900,000.


There is just one remaining oceanfront lot in Kapalua, which sold in 2020 for $8,000,000 and $108/sq. ft.  It will likely soon be developed.


Prepared on 11.1.2022. Sales Data 1.1.2022 through 11.1.2022


If you are thinking of buying or selling in Kapalua, please contact Courtney M. Brown for more detailed information on the market at each of these Kapalua communities,





Note: care is taken with compiling the data and information, but is subject to change and does not include private transactions not in MLS.  Interested parties are advised to do their own due diligence and confirm all figures contained herein.
 ]]> </description>
    <pubDate>Tue, 01 Nov 2022 17:35:00 -1000</pubDate>
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