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        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/2023-04/</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-resort-market-update-2023-q1.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kapalua-resort-market-update-2023-q1.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kapalua Resort Market Update: 2023 Q1</title>
    <description> <![CDATA[ 
KAPALUA MARKET UPDATE: First Quarter 2023





The view from 330 Cook Pine Drive in Pineapple Hill, Kapalua


Kapalua Condominiums:  2018-Q1 2023


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 Stats by Community


How does the market in the first Quarter of 2023 stack up for each community when compared with prior years?


Coconut Grove on Kapalua Bay





In the first quarter of 2023 there were no sales at Coconut Grove. 


In 2022, there were just two sales at Coconut Grove.  The low sale was significantly higher than in 2021.  The reason for this is that all sales in 2022 were oceanfront, while in 2021 there was a second-row sale.   Note: in 2021 and 2022 combined there were 8 sales, which represents 22 of the inventory to change to new ownership.


Metrics: 2022 vs. 2021Number of Sales -67Sales Volume -62Low Sales Price +43High Sales Price -9Average Sales Price +14Average Sales Price/Sq. Ft. +19Average DOM -57Average Sales Price/List Price -4


View Coconut Grove Kapalua units for sale


Kapalua Ironwoods





**Note Ironwoods 102 was purchased by Pacaso and has been sold off in 1/4 interests.  Those listings and sales are not accounted for in these figures.  Since 2020 about 30 of the residences at the Ironwoods changed hands.


In the first quarter of 2023, there were no sales at the Kapalua Ironwoods.


In 2022, the average sales price was buoyed by a record sale of a renovated oceanfront residence. The number of sales matched those in 2020.


Metrics: 2022 vs. 2021Number of Sales -20Sales Volume -2Low Sales Price +53High Sales Price +51Average Sales Price +23Average Sales Price/Sq. Ft. +6Average DOM -53Average Sales Price/List Price +3


View Kapalua Ironwoods for Sale


Kapalua Bay Villas





In the first quarter of 2023, there was just one Bay Villa to sell.  A one bedroom, ocean view condominium in building 17. 


In 2022, the Bay Villas also saw a record-high sale of an oceanfront villa.  This also served to increase the average sales price.  That said, the number of sales was much closer to 2020 figures.


Metrics: 2022 vs. 2021Number of Sales -67Sales Volume -57Low Sales Price +72High Sales Price +10Average Sales Price +30Average Sales Price/Sq. Ft. +36Average DOM -71Average Sales Price/List Price +4


View Kapalua Bay Villas for Sale


Kapalua Golf Villas 





In the first quarter of 2023, there were two Golf Villa sales, a one bedroom in building 21 and a 2 bedroom in building 25.


In 2022, the Golf Villas experienced about half of the sales of 2021, but like other properties, the sale of a renovated two-bedroom in 21 building set a record high, thereby increasing the average sales price and price per square foot dramatically.


Metrics: 2022 vs. 2021Number of Sales -52Sales Volume -34Low Sales Price +57High Sales Price +39Average Sales Price +39Average Sales Price/Sq. Ft. +41Average DOM -34Average Sales Price/List Price +1


View Kapalua Golf Villas for Sale


Kapalua Ridge Villas





In 2023, there were two villas to sell, both two bedrooms, in buildings 12 and 29.


In 2022, similar to other properties, the available inventory at the Ridge Villas was quite limited.  The sale of a two bedroom villa set a record high of $1,900,000.


Metrics: 2022 vs. 2021Number of Sales -61Sales Volume -50Low Sales Price +61High Sales Price +12Average Sales Price +26Average Sales Price/Sq. Ft. +45Average DOM -61Average Sales Price/List Price +3


View Kapalua Ridge Villas for sale


Montage Residences Kapalua Bay





In the first quarter of 2023, there was just one Residence to sell at the Montage, a three bedroom residence located on the ground floor in building 2.


While the record high sale was in 2021, the average sales price did increase at Montage as did the average sales price/sq. ft.  It is noteworthy that the high sale in 2021 was a four bedroom residence.  With only eight ever built, these seldom come up, but when they do sell, they command a high price that does impact the average sales price and price per sq. ft. as they are directly oceanfront residences that often command a higher price.  The number of sales was similar to 2020, but the volume was significantly higher.


Metrics: 2022 vs. 2021Number of Sales -63Sales Volume -61Low Sales Price +11High Sales Price -40Average Sales Price +4Average Sales Price/Sq. Ft. +16Average DOM 0Average Sales Price/List Price -1


View Montage Residences Kapalua Bay for Sale


Ritz-Carlton Kapalua Residences 





There have been no condo sales in the first quarter of 2023 at the Ritz-Carlton Residences in Kapalua.


In 2022, the Ritz-Carlton Kapalua also saw an increase in the average sales price/sq. ft. with an increase in the sales price to list price ratio as well.


Metrics: 2022 vs. 2021Number of Sales -20Sales Volume -23Low Sales Price +5High Sales Price +0Average Sales Price -4Average Sales Price/Sq. Ft. +8Average DOM -64Average Sales Price/List Price +5


View Ritz-Carlton Residences Kapalua for Sale


KAPALUA RESIDENTIAL MARKET UPDATE


Kapalua's Residential Communities


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.


In the first quarter of 2023, there were only two home sales: a home in Pineapple Hill that sold at $4,150,000 and a home in Pineapple Hill Estates that sold for $5,775,000.


KAPALUA HOME SALES


 


PINEAPPLE HILL &amp; PINEAPPLE HILL ESTATES





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

PLANTATION ESTATES AT KAPALUA HOMES





View Plantation Estates Homes for Sale


HONOLUA RIDGE HOMES





View Honolua Ridge Homes for sale


MAHANA ESTATES HOMES





 View Mahana Estates Homes


KAPALUA PLACE &amp; OCEANFRONT HOMES


Active listings: 


9 Bay Drive is an oceanfront 7B/10B home on 9.63 acres listed 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.


View Kapalua Place and Kapalua Oceanfront homes for sale


KAPALUA LAND SALES


In the first quarter of 2023, there are no lot sales to report in the Kapalua Resort.  





Pineapple Hill &amp; Pineapple Hill Estates Land





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

Plantation Estates Land





View Plantation Estates Land for Sale


Mahana Estates Land


 


View Mahana Estates Land for Sale


Honolua Ridge Land





View Honolua Ridge Land for Sale


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>Thu, 20 Apr 2023 14:44:00 -1000</pubDate>
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<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/where-do-mauis-buyers-originate-top-5-states.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/where-do-mauis-buyers-originate-top-5-states.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Where do Maui's Buyers Originate: Top 5 States</title>
    <description> <![CDATA[ 
Maui Real Estate Market Overview and Buyer Statistics: 2022


Many Sellers want to know where buyers of Maui County real estate call home (in this case, their legal residence).  Historically, buyers originate largely from the state of Hawaii.  In total, there were just 38 sales to foreign nationals out of 2067 in 2022, accounting for just 2 of the sales volume (number of sales) and 4 of the dollar volume ($).   Buyers from the US represented 98 of the sales volume and 96 of the dollar volume.


The majority of Maui's buyers are Hawaiian residents, representing 67 of the sales volume (number of sales) and 56 of the sales volume ($).  California runs second with 15 of the sales volume and 19 of the dollar volume ($).  Washington follows as a distant third with 4 of the sales volume and 7 of the dollar volume ($).


There is often a misperception that the majority of our foreign buyers come from Asia.  While this might be true for Oahu's market (particularly Honolulu), it hasn't been the case for Maui County, which includes the two outer islands islands of Molokai and Lanai. 


Island Sotheby's International Realty has 1075 offices worldwide in 81 countries and territories with over 26,000 sales associates.  Their websites and exclusive online partnerships provide unmatched exposure for Sellers of Maui real estate in their key feeder markets.  If you are thinking of selling and would like more information, Contact Courtney


Each year, Title Guaranty, one of Hawaii's most reputable Title and Escrow Companies, provides us with Buyer statistics.  


MAUI BUYER STATISTICS: TOP FOREIGN AND US BUYERS


In 2022, we saw a similar pattern of where Buyers of Maui real estate originate, both from abroad and the mainland US.


When looking at statewide statistics, the top five countries where buyers originate are Japan, Canada, Korea, China and Singapore.  However, Canada continues to be the primary foreign feeder market for Maui Real Estate. 


The feeder markets for Maui within the US are Hawaii, California, Washington, Colorado, Oregon, Texas, Utah, Arizona, Nevada, Florida.





MAUI REAL ESTATE BY AREA


When looking at our mainland markets, the largest mainland feeder markets are California, Washington and Colorado. This particularly holds true in the resort markets in West Maui (Kapalua, Kaanapali) and South Maui (Makena, Wailea, Kihei).  





Read the full reports for each county's Year End 2022 Buyer Statistics here:Maui CountyOahu CountyKauai CountyHawaii County


Please feel free to contact me any time with questions or for more detailed information on a market that interests you.


 
 ]]> </description>
    <pubDate>Mon, 10 Apr 2023 17:30:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-statistics-march-2023.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-statistics-march-2023.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Maui Real Estate Statistics: March 2023</title>
    <description> <![CDATA[ 



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

&quot;Nationally, existing home sales jumped 14.5 month-over-month as of last measure, the ﬁrst monthly gain in 12 months, and representing the largest monthly increase since July 2020, according to the National Association of REALTORS® (NAR). The sudden uptick in sales activity stems from contracts signed toward the beginning of the year, when mortgage rates dipped to the low 6 range, causing a surge in homebuyer activity. Pending sales have continued to improve heading into spring , increasing for the third consecutive month, according to NAR. 


New Listings decreased 40.9 percent for Single Family homes and 46.2 percent for Condominium homes. Pending Sales decreased 29.8 percent for Single Family homes and 49.7 percent for Condominium homes. Inventory increased 15.3 percent for Single Family homes and 28.6 percent for Condominium homes. 


Median Sales Price increased 1.9 percent to $1,200,000 for Single Family homes but decreased 1.5 percent to $797,500 for Condominium homes. Days on Market increased 34.3 percent for Single Family homes and 92.8 percent for Condominium homes. Months Supply of Inventory increased 77.3 percent for Single Family homes and 150.0 percent for Condominium homes. Monthly sales might have been even higher if not for limited inventory nationwide. 


At the current sales pace, there were just 2.6 months’ supply of existing homes at the beginning of March, far below the 4 – 6 months’ supply of a balanced market. Inventory remains suppressed in part because of mortgage interest rates, which nearly hit 7 before falling again in recent weeks. Higher rates have continued to put downward pressure on sales prices, and for the ﬁrst time in more than a decade, national home prices were lower year-over-year, according to NAR, breaking a 131-month streak of annual price increases.&quot;


While nationally we are seeing some markets stalling or decreasing, we are seeing locations with great views in excellent condition 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: 235 homes from $589,000 in Wailuku to $44,000,000 for an oceanfront home in Huelo, followed by 9 Bay Drive, an oceanfront home for sale in KapaluaPending: 110 homes from $390,000 in Wailuku to $12,800,000 for an estate in WailukuSold: 879 homes from $350,000 n Wailuku to $32,673,491 for an oceanfront home in Makena.  This compares with the high sales of 2022 for  $28,500,000 for a home across the street from the ocean at One Palau'ea Bay in Makena and 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:191 condos listed from $270,000 for a condo in Kahului to $17,500,000 for a double residence at Wailea PointPending: 194 condos pending, ranging from $225,000 Leasehold in Honokowai to $5,560,000 at Wailea PointSold: 257 condos sold, ranging from $160,000 Leasehold to $13,00,000 for a condo at Discovery's Makena Beach Club and Residences


MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES 


Active Listings: 111 parcels from $229,000 in Wailuku to $75,000,000 for over 3546 acres for Hana RanchPending: 33 lots from $229,000 in Hana to $16,850,000 for over 3000 acres of ranch land in KaupoSold: 47 lots from $25,000 in Wailuku to $10,250,000 for an beachfront parcel in Kaanapali.


*Molokai and Lanai are not included in the above written summaries, although they are a part of Maui County.  This data is taken from the MLS on on the date of this post, 04/6/2023


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

 


 
 ]]> </description>
    <pubDate>Thu, 06 Apr 2023 15:19:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/introducing-330-cook-pine-drive-in-kapaluas-pineapple-hill.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/introducing-330-cook-pine-drive-in-kapaluas-pineapple-hill.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Introducing 330 Cook Pine Drive in Kapalua's Pineapple Hill</title>
    <description> <![CDATA[ 
Introducing 330 Cook Pine Drive: elevated living in Kapalua's Pineapple Hill Community





Sunset at Pineapple Hill from 330 Cook Pine Drive


This is a rare offering of of one of only six homes on an oversized lot in Pineapple Hill.  This gracious estate is nestled on a hill overlooking the Pacific Ocean framed by the neighboring islands of Molokai and Lanai.  


This private ocean view estate is situated on approximately a half-acre in one of Kapalua’s most popular neighborhoods, Pineapple Hill. Remodeled in 2018 with a contemporary, elegant island inspired design, this home is one of the most secluded in the community. 


The main home is comprised of a spacious living room with a fireplace and soaring ceilings, a gourmet kitchen and ocean view dining room, wet bar, home theatre, three ensuite bedrooms, and an office loft.  A detached suite complete with a full bath offers a flexible space for guests or an artist’s studio with an abundance of natural light and its own entrance. 


One of the loveliest features is the garden--a tropical oasis that wraps around the side of the home complete with a gazebo, waterfall and a stone edged pool and secluded hot tub.  There is a sheltered lanai area overlooking the garden as well as a large lawn, with vistas of the Pacific Ocean and the neighboring islands of Molokai and Lanai perfectly framing Maui’s spectacular sunsets over the Pailolo Chanel. 


A chef’s dream, the kitchen features custom wood cabinetry cloaked in Lemurian Blue granite, an induction cooktop, oven and dishwasher by Miele, and Subzero refrigerator, freezer and ice maker.  Just off the kitchen and dining room is an outdoor kitchen with a Lynx built in BBQ. 


The primary bedroom suite is tucked away in the Southwest corner of the home, and features ocean and garden views, hardwood floors, custom draperies and furnishings, and a reimagined bath, a sanctuary with granite walls, a walk-in shower and a gorgeous soaking tub. 


Impeccably maintained by the current owners, this stunning home is offered fully furnished and turnkey.  This is a rare offering of one of only six homes situated on two or more contiguous lots in Pineapple Hill, allowing for an expanded custom floor plan surrounded by tropical gardens. 


Amenities within the gated Pineapple Hill community include an onsite manager, community pavilion, pool, gardens, a tennis court, and two pickleball courts  Pineapple Hill is located in the heart of the Kapalua Resort, which is known for its championship golf courses, restaurants, beaches, and hiking and walking trails.  The resort is achored by two five star hotels: the Montage Kapalua Bay and the Ritz-Carlton, Kapalua.  





Enjoy ocean views from the beautifully furnished contemporary living room, complete with a fireplace





Off the primary bedroom suite is a peaceful and private lagoon area, with a pool, spa and gazebo surrounded by tropical landscaping





Just off the kitchen and through the sliding doors is an ocean-view outdoor kitchen and dining area.


The sleek and modern kitchen features an induction cooktop, with appliances by Miele and Subzero.  The kitchen is separated from the living area but open to the dining area and exterior gardens, making it perfect for entertaining.





The ocean facing dining room takes in the dramatic ocean views and opens to gracious lanais and a beautifully manicured lawn.





The primary bedroom suite features ocean and garden views, and opens to the oasis in the side yard.





The side yard oasis is a relaxing and peaceful area with ample covered areas to allow you to enjoy the whole day outside.


For more information on this offering or Homes for sale in Kapalua, please contact Courtney M. Brown, R(S) 56519


View Pineapple Hill, Kapalua Homes for Sale



 ]]> </description>
    <pubDate>Mon, 03 Apr 2023 16:29:00 -1000</pubDate>
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