Maui Real Estate & Lifestyle News

Wailea Condominium Market Update: Q1 2024

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Thu, 11 Apr 2024 11:11:00 -1000

WAILEA CONDOMINIUM MARKET UPDATE: Q1 2024 Wailea Resort Condominiums Wailea Condominiums Wailea is home to several different condominium resorts, including the Andaz, Grand Champions, Ho'olei, Kai Malu, Kanani Wailea, Keala O Wailea, Palms at Wailea, Wailea Palms, Makalii, Papali, Polo Beach Club, Wailea Beach Villas, Wailea Ekahi, Wailea Ekolu, Wailea Elua, Wailea Fairway Villas, Wailea Point, and Wailea Town Center. Makena is home to the Makena Golf & Beach Club, Makena Surf, Na Hale O Makena WAILEA & MAKENA CONDO SALES Q1 2024 2023 2022 2021 2020 2019 Number of Sales 43 112 130 315 144 140 Volume $138,202,749 $424,827,928 $359,939,459 $673,905,402 $321,397,970 $268,736,001 Low Sales Price $999,999 $1,050,000 $650,000 $375,000* $683,550 $599,000 High Sales Price $10,000,000 $13,000,000 $12,000,000 $16,000,000 $15,400,000 $10,866,000 Median $2,690,000 $2,427,050 $1,757,500 $1,550,000 $1,420,000 $1,282,500 Average SP $3,214,017 $3,793,107 $2,768,765 $2,139,382 $2,231,930 $1,919,543 Average SP/Sq. Ft. $1,840 $1,851 $1,719 $1,269 $1,176 $1,119 Average DOM 453 463 92 350 347 211 Average SP/LP 99 99 99 99 97 97 How does the market through the first quarter of 2024 stack up for each community as compared with prior years? A FIVE-YEAR OVERVIEW Andaz Wailea Andaz Wailea Condos for Sale Andaz Residences Q1 2024 2023 2022 2021 2020 2019 Sales 0 1 1 1 0 0 Volume NA $11,750,000 $11,900,000 6,950,000 $0 $0 Low SP NA $11,750,000 $11,900,000 6,950,000 NA NA High SP NA $11,750,000 $11,900,000 6,950,000 NA NA Median SP NA $11,750,000 $11,900,000 6,950,000 NA NA Average SP NA $11,750,000 $11,900,000 6,950,000 NA NA Average SP/Sq. Ft NA $4,176 $4,229 2,470 NA NA Average DOM NA 63 132 267 NA NA Average SP/LP NA 98 100 96 NA NA Grand Champions Grand Champions Condos for Sale Grand Champions Q1 2024 2023 2022 2021 2020 2019 Sales 0 5 10 29 12 13 Volume NA $7,365,000 $13,135,000 $26,155,500 $10,102,550 $10,298,900 Low SP NA $1,150,000 $850,000 $659,000 $683,550 $685,000 High SP NA $1,700,000 $1,595,000 $1,295,000 $1,200,000 $1,199,000 Median SP NA $1,515,000 $1,350,000 $799,000 $795,000 $760,000 Average SP NA $1,473,000 $1,313,500 $901,914 $841,879 $792,223 Average SP/Sq. Ft NA $1,407 $1,216 $825 $738 $732 Average DOM NA 111 92 150 98 144 Average SP/LP NA 95 99 99 97 97 Ho'olei Hoolei Condos for Sale Ho'olei 2024 2023 2022 2021 2020 2019 Sales 3 0 7 13 8 9 Volume $18,450,000 $0 $36,800,000 $45,151,000 $25,180,000 $27,155,000 Low SP $5,850,000 NA $4,325,000 $2,899,000 $2,250,000 $2,535,000 High SP $6,500,000 NA $6,225,000 $4,350,000 $3,500,000 $3,450,000 Median SP $6,100,000 NA $5,000,000 $3,500,000 $3,452,500 $3,050,000 Average SP $6,150,000 NA $5,257,143 $3,473,154 $3,147,500 $3,017,222 Average SP/Sq. Ft $2,225 NA $1,935 $1,322 $1,156 $1,108 Average DOM 35 NA 51 83 144 131 Average SP/LP 99 NA 101 96 94 96 Kai Malu at Wailea Kai Malu at Wailea Condos for Sale Kai Malu Q1 2024 2023 2022 2021 2020 2019 Sales 4 5 7 21 5 17 Volume $11,450,000 $12,645,000 $15,919,000 $33,969,100 $8,155,000 $25,244,000 Low SP $1,950,000 $2,095,000 $1,999,000 $1,300,000 $1,495,000 $1,245,000 High SP $3,300,000 $2,750,000 $2,615,000 $1,940,000 $1,750,000 $1,942,500 Median SP $3,100,000 $2,600,000 $2,200,000 $1,610,000 $1,685,000 $1,375,000 Average SP $2,862,500 $2,529,000 $2,274,143 $1,617,576 $1,631,000 $1,438,765 Average SP/Sq. Ft $1,567 $1,399 $1,243 $898 $902 $819 Average DOM 104 77 62 80 137 196 Average SP/LP 99 97 99 100 98 96 Kanani Wailea Kanani Wailea Condos for Sale Kanani Wailea Q1 2024 2023 2022 2021 2020 2019 Sales 0 2 3 6 1 2 Volume NA $4,050,000 $5,780,000 $8,617,000 $1,188,000 $2,398,000 Low SP NA $1,750,000 $1,680,000 $1,150,000 $1,188,000 $998,000 High SP NA $2,300,000 $1,900,000 $1,900,000 $1,188,000 $1,400,000 Median SP NA $2,025,000 $1,900,000 $1,321,000 $1,188,000 $1,999,000 Average SP NA $2,025,000 $1,926,667 $1,436,167 $1,188,000 $1,999,000 Average SP/Sq. Ft NA $981 $865 $658 $573 $573 Average DOM NA 77 72 163 310 310 Average SP/LP NA 94 99 100 99 94 Keala O Wailea Keala O Wailea Condos for Sale Keala O Wailea Q1 2024 2023 2022 2021 2020 2019 Sales 3 2 4 12 9 13 Volume $7,695,000 $5,225,000 $847,000 $23,053,000 $12,695,000 $18,859,000 Low SP $2,400,000 $2,400,000 $1,445,000 $1,280,000 $1,225,000 $1,060,000 High SP $2,800,000 $2,825,000 $2,727,000 $2,550,000 $1,670,000 $2,450,000 Median SP $2,495,000 $2,612,500 $2,162,500 $1,762,500 $1,415,000 $1,349,000 Average SP $2,565,000 $2,612,500 $2,124,250 $1,921,083 $1,410,556 $1,450,692 Average SP/Sq. Ft $1,917 $1,587 $1,593 $1,278 $1,094 $1,050 Average DOM 122 41 65 128 155 121 Average SP/LP 97 102 103 98 97 98 La'i Loa Lai Loa Condos for Sale Lai Loa Q1 2024 2023 Sales 18 31 Volume $45,538,750 $77,555,500 Low SP $1,519,250 $1,525,250 High SP $3,820,000 $3,803,500 Median SP $2,452,275 $2,449,550 Average SP $2,529,931 $2,501,790 Average SP/Sq. Ft $1,462 $1,407 Average DOM 956 1021 Average SP/LP 100 102 Makali'i Makalii Condos for sale Makalii Q1 2024 2023 2022 2021 2020 2019 Sales 1 3 5 71 14 0 Volume $3,250,000 $9,195,000 $14,110,000 $132,792,000 $21,094,000 $0 Low SP $3,250,000 $2,700,000 $1,750,000 $1,015,000 $1,250,000 NA High SP $3,250,000 $3,400,000 $3,300,000 $3,200,000 $1,950,000 NA Median SP $3,250,000 $3,095,000 $2,990,000 $1,812,000 $1,498,000 NA Average SP $3,250,000 $3,065,000 $2,822,000 $1,870,310 $1,506,714 NA Average SP/Sq. Ft $2,065 $1,784 $1,647 $1,113 $923 NA Average DOM 40 116 327 1170 1283 NA Average SP/LP 97 95 100 100 100 NA Makalii is a new development that launched in 2020 with presales beginning years prior. As such, days on market include build time and developer sales sell at 100 of asking Makena Golf & Beach Club Makena Golf & Beach Club Condos for Sale Makena Golf & Beach Club Q1 2024 2023 2022 2021 2020 2019 Sales 2 17 3 2 13 8 Volume $20,000,000 $176,684,480 $26,806,000 $23,027,000 $91,931,000 $79,848,000 Low SP $10,000,000 $4,375,000 $6,350,000 $10,527,000 $4,950,000 $9,037,000 High SP $10,000,000 $13,000,000 $11,256,000 $12,500,000 $15,400,000 $10,886,000 Median SP $10,000,000 $10,800,000 $9,200,000 $11,513,500 $7,044,000 $9,651,000 Average SP $10,000,000 $10,393,205 $8,953,333 $11,513,500 $7,071,615 $9,981,000 Average SP/Sq. Ft $3,151 $2,604 $1,995 $3,175 $1,929 $2,921 Average DOM 33 810 160 84 1071 1096 Average SP/LP 100 100 100 98 100 100 Makena Surf Makena Surf Condos for Sale Makena Surf Q1 2024 2023 2022 2021 2020 2019 2018 Sales 0 0 5 8 5 2 6 Volume NA NA $24,000,000 $27,495,000 $16,724,990 $4,848,000 $15,110,000 Low SP NA NA $3,800,000 $2,735,000 $2,350,000 $2,298,000 $1,900,000 High SP NA NA $5,500,000 $4,000,000 $5,999,990 $2,550,000 $3,600,000 Median SP NA NA $5,200,000 $3,600,000 $2,850,000 $2,424,000 $2,450,000 Average SP NA NA $4,800,000 $3,436,875 $3,344,998 $2,424,000 $2,518,333 Average SP/Sq. Ft NA NA $3,538 $2,439 $1,878 $1,800 $1,963 Average DOM NA NA 117 114 190 53 161 Average SP/LP NA NA 95 97 95 101 93 Na Hale O Makena Na Hale O Makena Condos for Sale Na Hale O Makena Q1 2024 2023 2022 2021 2020 2019 Sales 0 1 4 6 1 2 Volume NA $2,550,000 $13,400,000 $11,627,790 $1,413,750 $2,975,000 Low SP NA $2,550,000 $2,600,000 $1,500,000 $1,413,750 $1,325,000 High SP NA $2,550,000 $3,550,000 $2,543,790 $1,413,750 $1,650,000 Median SP NA $2,550,000 $3,400,000 $1,867,000 $1,413,750 $1,487,500 Average SP NA $2,550,000 $3,350,000 $1,937,965 $1,413,750 $1,487,500 Average SP/Sq. Ft NA $1,205 $1,288 $914 $668 $708 Average DOM NA 36 129 136 107 250 Average SP/LP NA 94 96 98 98 87 Palms I at Wailea Palms I at Wailea Condos for Sale Palms at Wailea Q1 2024 2023 2022 2021 2020 2019 Sales 0 8 18 16 15 7 Volume NA $13,476,000 $24,834,000 $15,698,000 $12,349,350 $5,765,001 Low SP NA $1,381,000 $985,000 $720,000 $690,000 $686,000 High SP NA $1,950,000 $1,575,000 $1,230,000 $1,400,000 $950,000 Median SP NA $1,675,000 $1,400,000 $932,500 $795,000 $875,000 Average SP NA $1,684,500 $1,379,667 $981,125 $823,290 $823,572 Average SP/Sq. Ft NA $1,437 $1,197 $863 $731 $736 Average DOM NA 62 73 129 175 136 Average SP/LP NA 99 100 100 100 100 Palms II at Wailea (Wailea Palms) Wailea Palms Condos for Sale Wailea Palms 2024 2023 2022 2021 2020 2019 Sales 1 4 8 10 5 10 Volume $1,705,000 $7,977,500 $14,225,000 $11,567,000 $4,299,000 $10,639,100 Low SP $1,705,000 $1,632,500 $1,500,000 $835,000 $725,000 $800,000 High SP $1,705,000 $2,595,000 $2,550,000 $1,650,000 $1,125,000 $1,600,000 Median SP $1,705,000 $1,875,000 $1,707,500 $1,162,500 $820,000 $990,000 Average SP $1,705,000 $1,994,375 $1,778,125 $1,156,700 $859,800 $1,063,910 Average SP/Sq. Ft $1,428 $1,443 $1,348 $950 $759 $820 Average DOM 69 149 65 112 98 100 Average SP/LP 97 98 100 98 98 95 Papali Wailea Papali Wailea Condos for Sale Papali Q1 2024 2023 2022 2021 2020 2019 Sales 0 0 0 4 1 0 Volume NA NA NA $16,170,000 $2,600,000 NA Low SP NA NA NA $3,795,000 $2,600,000 NA High SP NA NA NA $4,400,000 $2,600,000 NA Median SP NA NA NA $3,978,500 $2,600,000 NA Average SP NA NA NA $4,042,500 $2,600,000 NA Average SP/Sq. Ft NA NA NA $1,694 $1,090 NA Average DOM NA NA NA 93 609 NA Average SP/LP NA NA NA 100 87 NA Polo Beach Club Polo Beach Club Condos for Sale Polo Beach Club Q1 2024 2023 2022 2021 2020 2019 Sales 1 0 2 6 2 3 Volume $5,400,000 $0 $8,599,808 $20,155,000 $5,157,500 $7,825,000 Low SP $5,400,000 NA $3,999,808 $2,200,000 $2,575,000 $2,175,000 High SP $5,400,000 NA $4,600,000 $4,675,000 $2,600,000 $3,400,000 Median SP $5,400,000 NA $4,299,904 $3,365,000 $2,587,500 $2,940,000 Average SP $5,400,000 NA $4,299,904 $3,359,167 $2,587,500 $2,608,333 Average SP/Sq. Ft $4,369 NA $3,547 $2,696 $1,959 $2,134 Average DOM 186 NA 61 72 102 167 Average SP/LP 96 NA 99 97 99 97 Wailea Beach Villas Wailea Beach Villas Condos for Sale Wailea Beach Villas Q1 2024 2023 2022 2021 2020 2019 Sales 0 3 5 13 5 1 Volume NA $26,025,000 $41,225,000 $78,725,000 $19,944,000 $4,600,000 Low SP NA $6,525,000 $4,550,000 $2,845,000 $2,500,000 $4,600,000 High SP NA $10,900,000 $12,000,000 $14,000,000 $6,895,000 $4,600,000 Median SP NA $8,600,000 $7,800,000 $5,100,000 $3,900,000 $4,600,000 Average SP NA $8,675,000 $8,245,000 $6,055,769 $3,988,800 $4,600,000 Average SP/Sq. Ft NA $3,582 $3,160 $2,363 $1,534 $2,110 Average DOM NA 162 76 137 181 336 Average SP/LP NA 97 99 98 94 94 Wailea Ekahi Wailea Ekahi Condos for Sale Wailea Ekahi Q1 2024 2023 2022 2021 2020 2019 Sales 4 7 17 27 18 23 Volume $6,749,999 $11,620,427 $26,108,750 $31,861,512 $20,185,000 $2,725,700 Low SP $999,999 $1,436,627 $650,000 $647,000 $690,000 $650,000 High SP $2,800,000 $2,300,000 $2,070,000 $2,200,000 $2,750,000 $2,350,000 Median SP $1,475,000 $1,570,000 $1,575,000 $1,070,000 $974,500 $1,020,000 Average SP $1,687,500 $1,660,061 $1,535,809 $1,180,056 $1,221,389 $1,185,087 Average SP/Sq. Ft $2,021 $1,991 $1,687 $1,290 $1,147 $1,136 Average DOM 94 101 75 91 154 213 Average SP/LP 97 98 100 98 95 96 Wailea Ekolu Wailea Ekolu Condos for Sale Wailea Ekolu Q1 2024 2023 2022 2021 2020 2019 Sales 0 6 11 14 6 12 Volume NA $11,449,500 $18,650,000 $16,403,000 $5,729,999 $12,062,000 Low SP NA $1,542,000 $1,105,000 $899,000 $720,000 $645,000 High SP NA $2,362,500 $2,295,000 $1,525,000 $1,100,000 $1,300,000 Median SP NA $1,887,500 $1,700,000 $1,172,500 $1,012,500 $1,035,000 Average SP NA $1,908,250 $1,695,455 $171,643 $955,000 $1,005,167 Average SP/Sq. Ft NA $1,801 $1,735 $1,140 $929 $951 Average DOM NA 110 74 74 90 86 Average SP/LP NA 98 102 101 96 97 Wailea Elua Wailea Elua Condos for Sale Wailea Elua Q1 2024 2023 2022 2021 2020 2019 Sales 1 6 3 11 2 4 Volume $3,999,000 $23,105,000 $9,851,000 $29,100,000 $7,415,000 $7,030,000 Low SP $3,999,000 $2,800,000 $2,700,000 $1,550,000 $3,615,000 $1,500,000 High SP $3,999,000 $4,900,000 $4,201,000 $4,350,000 $3,800,000 $1,945,000 Median SP $3,999,000 $3,852,500 $2,950,000 $2,200,000 $3,707,500 $1,792,500 Average SP $3,999,000 $3,850,833 $3,283,667 $2,645,455 $3,707,500 $1,757,500 Average SP/Sq. Ft $3,151 $3,094 $2,812 $2,043 $2,945 $1,558 Average DOM 81 116 91 104 144 93 Average SP/LP 100 97 103 101 95 98 Wailea Fairway Villas Wailea Fairway Villas Condos for Sale Wailea Fairway Villas Q1 2024 2023 2022 2021 2020 2019 Sales 3 9 11 26 8 9 Volume $5,025,000 $13,217,021 $12,878,001 $24,430,500 $6,376,000 $6,912,000 Low SP $1,200,000 $1,095,000 $925,000 $725,000 $715,000 $599,000 High SP $2,500,000 $1,999,999 $1,495,000 $1,450,000 $1,090,000 $1,195,000 Median SP $1,325,000 $1,400,000 $1,150,000 $890,000 $767,000 $725,000 Average SP $1,675,000 $1,468,558 $1,170,727 $939,635 $797,000 $768,000 Average SP/Sq. Ft $1,353 $1,255 $1,177 $866 $772 $721 Average DOM 142 95 94 76 201 200 Average SP/LP 97 97 99 99 97 98 Wailea Point Wailea Point Condos for Sale Wailea Point Q1 2024 2023 2022 2021 2020 2019 Sales 2 2 5 17 14 5 Volume $8,940,000 $10,937,500 $23,110,000 $87,568,000 $48,840,331 $15,040,000 Low SP $4,090,000 $5,162,500 $2,075,000 $375,000* $1,525,000 $1,740,000 High SP $4,850,000 $5,775,000 $6,785,000 $16,000,000 $7,500,000 $5,400,000 Median SP $4,470,000 $5,468,750 $4,450,000 $5,000,000 $2,716,250 $2,650,000 Average SP $4,470,000 $5,468,750 $4,622,000 $5,151,059 $3,488,595 $3,008,000 Average SP/Sq. Ft $3,226 $2,983 $2,239 $1,945 $1,619 $1,582 Average DOM 65 151 80 169 174 140 Average SP/LP 91 93 97 97 95 94 *Sale of a garage Wailea Town Center Wailea Town Center Condos for Sale Wailea Town Center Q1 2024 2023 2022 2021 2020 2019 Sales 0 0 0 2 0 0 Volume NA NA NA $3,390,000 NA NA Low SP NA NA NA $1,690,000 NA NA High SP NA NA NA $3,390,000 NA NA Median SP NA NA NA $1,695,000 NA NA Average SP NA NA NA $1,695,000 NA NA Average SP/Sq. Ft NA NA NA $968 NA NA Average DOM NA NA NA 71 NA NA Average SP/LP NA NA NA 104 NA NA If you are thinking of buying or selling in Wailea or Makena, please contact Courtney M. Brown for more detailed information on the market at each of these Wailea and Makena 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. This information is historical in nature and not a prediction of future value. Real estate values can change depending on a variety of market conditions. Interested parties are advised to do their own due diligence and confirm all figures contained herein.

Kaanapali Resort Condominium Market Update | Q 1 2024

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Fri, 05 Apr 2024 15:32:00 -1000

KAANAPALI CONDOMINIUM MARKET UPDATE: Q1 2024 Kaanapali Resort Condominiums Kaanapali Condominiums Kaanapali is home to several different condominium communities, with offerings ranging from studios to four-bedroom condominiums. Located along Kaanapali Beach are the Kaanapali Alii and Whaler, and located on Kahekili are the Maui Kaanapali Villas, Honua Kai, Mahana and Maui Kai. Surrounding the Golf Course, you'll find the Maui Eldorado, the Masters, Kaanapali Plantation, International Colony Club and Vintage. Kaanapali Resort Condos 2024 2023 2022 2021 2020 2019 Number of Sales 23 70 148 237 159 168 Volume $37,105,000 $123,054,600 $247,257,475 $321,700,298 $212,877,531 $205,331,916 Low Sales Price $520,000 $475,000 $325,000 $318,000 $319,000 $240,000 High Sales Price $4,625,000 $5,650,000 $5,899,000 $5,400,000 $3,300,000 $4,995,000 Median $1,550,000 $1,500,000 $1,412,500 $995,000 $1,050,000 $952,500 Average SP $1,613,261 $1,757,923 $1,670,659 $1,357,385 $1,338,852 $1,222,214 Average SP/Sq. Ft. $1,707 $1,617 $1,486 $1,158 $955 $1,010 Average DOM 99 103 90 127 248 218 Average SP/LP 97 96 98 98 96 97 There are a mix of leasehold and fee simple condominiums in Kaanapali How does the market through the first quarter of 2024 stack up for each community as compared with prior years? A FIVE-YEAR OVERVIEW Honua Kai Honua Kai: condos for sale All Buildings Honua Kai Q1 2024 2023 2022 2021 2020 2019 Sales 8 18 45 63 72 57 Volume $14,925,000 $37,688,999 $112,632,875 $121,182,648 $137,972,250 $91,809,500 Low SP $1,275,000 $1,200,000 $1,150,000 $807,500 $735,000 $774,000 High SP $2,950,000 $5,525,000 $5,899,000 $5,400,000 $3,199,000 $3,300,000 Median SP $1,667,500 $1,843,500 $1,900,000 $1,550,000 $2,119,750 $1,700,000 Average SP $1,865,625 $2,093,778 $2,502,953 $1,923,534 $1,916,281 $1,610,693 Average SP/Sq. Ft $2,348 $2,178 $2,154 $1,498 $1,139 $1,190 Average DOM 74 114 97 137 404 318 Average SP/LP 98 96 98 98 98 98 International Colony Club International Colony Club condos for sale International Colony Club Q1 2024 2023 2022 2021 2020 2019 Sales 0 2 0 5 1 1 Volume NA $2,910,000 NA $3,150,000 $575,000 $618,000 Low SP NA $1,310,000 NA $600,000 $575,000 $618,000 High SP NA $1,600,000 NA $680,000 $575,000 $618,000 Median SP NA $1,455,000 NA $620,000 $575,000 $618,000 Average SP NA $1,455,000 NA $630,000 $575,000 $618,000 Average SP/Sq. Ft NA $1,035 NA $556 $614 $445 Average DOM NA 41 NA 143 127 237 Average SP/LP NA 101 NA 100 96 98 Kaanapali Alii Kaanapali Alii condos for sale Kaanapali Alii Q1 2024 2023 2022 2021 2020 2019 Sales 1 6 12 27 9 16 Volume $4,625,000 $23,125,000 $31,841,600 $66,456,000 $18,215,000 $39,230,000 Low SP $4,625,000 $2,350,000 $1,020,000* $918,000* $1,200,000 $1,100,000 High SP $4,625,000 $5,650,000 $4,596,600 $5,000,000 $3,300,000 $4,995,000 Median SP $4,625,000 $3,787,500 $2,387,500 $2,300,000 $1,700,000 $2,147,500 Average SP $4,625,000 $3,854,167 $2,653,467 $2,461,333 $2,023,889 $2,451,875 Average SP/Sq. Ft $2,815 $2,427 $1,739 $1,595 $1,248 $1,560 Average DOM 129 76 97 125 129 213 Average SP/LP 95 96 96 97 92 95 Kaanapali Plantation Kaanapali Plantation condos for sale Kaanapali Plantation Q1 2024 2023 2022 2021 2020 2019 Sales 2 1 9 11 4 3 Volume $2,575,000 $1,375,000 $11,244,000 $8,570,250 $3,190,000 $2,039,000 Low SP $1,275,000 $1,375,000 $860,000 $448,000 $755,000 $629,000 High SP $1,300,000 $1,375,000 $1,500,000 $1,200,000 $870,000 $780,000 Median SP $1,287,500 $1,375,000 $1,325,000 $731,250 $782,500 $630,000 Average SP $1,287,500 $1,375,000 $1,249,333 $779,114 $797,500 $679,667 Average SP/Sq. Ft $974 $1,194 $979 $595 $558 $544 Average DOM 76 77 60 129 127 $282 Average SP/LP 99 92 97 98 95 97 Kaanapali Royal Kaanapali Royal condos for sale Kaanapali Royal Q1 2024 2023 2022 2021 2020 2019 Sales 3 4 2 3 6 9 Volume $4,475,000 $6,620,000 $2,455,000 $2,792,000 $4,372,500 $6,997,750 Low SP $1,350,000 $1,500,000 $1,160,000 $820,000 $350,000* $705,000 High SP $1,575,000 $1,950,000 $1,295,000 $1,100,000 $850,000 $864,750 Median SP $1,550,000 $1,585,000 $1,227,500 $872,000 $795,000 $765,000 Average SP $1,491,667 $1,655,000 $1,227,500 $930,667 $728,750 $777,528 Average SP/Sq. Ft $958 $1,057 $805 $571 $478 $504 Average DOM 121 85 35 99 99 101 Average SP/LP 96 95 108 103 97 97 * Leasehold sales in 2017 and 2020 Kaanapali Shores Kaanapali Shores condos for sale Kaanapali Shores Q1 2024 2023 2022 2021 2020 2019 Sales 2 11 29 33 15 15 Volume $2,325,000 $12,429,900 $26,657,500 $25,358,000 $9,727,381 $9,938,167 Low SP $1,050,000 $650,000* $325,000* $318,000* $320,000* $365,000 High SP $1,275,000 $2,500,000 $2,360,000 $2,125,000 $950,000 $997,000 Median SP $1,162,500 $979,900 $810,000 $700,000 $645,000 $557,500 Average SP $1,162,500 $1,129,991 $919,224 $768,424 $635,159 $621,135 Average SP/Sq. Ft $1,377 $1,261 $1,098 $931 $781 $830 Average DOM 68 115 91 145 142 117 Average SP/LP 93 97 98 98 95 97 *There were leasehold sales every year except 2024. Low is marked with the asterisk The Mahana at Kaanapali The Mahana at Kaanapali condos for sale Mahana Q1 2024 2023 2022 2021 2020 2019 Sales 1 7 21 12 5 9 Volume $835,000 $10,582,500 $26,241,500 $14,372,400 $4,858,000 $8,302,000 Low SP $835,000 $1,175,000 $772,500 $725,000 $640,000 $625,000 High SP $835,000 $3,005,000 $2,300,000 $1,725,000 $1,650,000 $1,850,000 Median SP $835,000 $1,227,500 $1,160,000 $1,197,500 $880,000 $825,000 Average SP $835,000 $1,511,788 $1,249,595 $1,197,708 $971,600 $922,444 Average SP/Sq. Ft $1,831 $1,655 $1,591 $1,330 $1,314 $1,174 Average DOM 21 126 78 253 161 140 Average SP/LP 100 97 97 97 96 98 Maui Eldorado Maui Eldorado condos for sale Maui Eldorado Q1 2024 2023 2022 2021 2020 2019 Sales 1 6 10 12 10 12 Volume $520,000 $4,657,700 $7,011,000 $6,803,500 $4,302,500 $4,766,000 Low SP $520,000 $475,000 $415,000 $345,000 $240,000 $240,000 High SP $520,000 $1,250,000 $1,137,500 $965,000 $835,000 $835,000 Median SP $520,000 $591,350 $616,250 $460,750 $403,750 $332,500 Average SP $520,000 $776,283 $701,100 $566,958 $430,250 $397,167 Average SP/Sq. Ft $912 $858 $657 $559 $458 $458 Average DOM 94 88 64 131 79 79 Average SP/LP 97 95 101 98 96 96 Maui Eldorado is a Leasehold property Maui Kaanapali Villas Maui Kaanapali Villas condos for sale Maui Kaanapali Villas Q1 2024 2023 2022 2021 2020 2019 Sales 1 0 6 15 10 5 Volume $1,095,000 NA $4,615,000 $9,598,900 $5,884,400 $3,695,000 Low SP $1,095,000 NA $400,000 $345,000 $432,500 $430,000 High SP $1,095,000 NA $1,100,000 $915,000 $799,000 $1,050,000 Median SP $1,095,000 NA $767,500 $625,000 $487,450 $760,000 Average SP $1,095,000 NA $769,167 $639,927 $588,440 $739,000 Average SP/Sq. Ft $1,190 NA $1,154 $985 $889 $932 Average DOM 24 NA 111 64 54 49 Average SP/LP 100 NA 99 98 98 100 Maui Kai Maui Kai condos for sale Masters Q1 2024 2023 2022 2021 2020 2019 Sales 1 1 7 6 6 9 Volume $680,000 $935,000 $5,308,000 $3,541,000 $3,199,000 $4,899,000 Low SP $935,000 $935,000 $560,000 $458,000 $415,000 $430,000 High SP $935,000 $935,000 $1,090,000 $785,000 $675,000 $745,000 Median SP $935,000 $935,000 $665,000 $526,500 $525,000 $525,000 Average SP $935,000 $935,000 $758,286 $590,167 $533,167 $544,333 Average SP/Sq. Ft $1,722 $1,445 $1,530 $1,257 $1,052 $1,033 Average DOM 28 38 64 151 193 202 Average SP/LP 99 100 101 99 95 96 The Masters at Kaanapali Hillside The Masters at Kaanapali Hillside condos for sale Masters Q1 2024 2023 2022 2021 2020 2019 Sales 0 9 17 31 15 18 Volume NA $14,390,000 $25,371,000 $34,802,000 $13,586,500 $15,498,500 Low SP NA $1,275,000 $900,000 $675,000 $575,000 $550,000 High SP NA $1,990,000 $2,175,000 $1,929,000 $1,300,000 $1,400,000 Median SP NA $1,600,000 $1,565,000 $1,107,000 $945,000 $852,000 Average SP NA $1,598,889 $1,492,412 $1,122,645 $905,766 $861,028 Average SP/Sq. Ft NA $1,035 $989 $796 $639 $660 Average DOM NA 165 62 133 97 225 Average SP/LP NA 93 100 98 95 95 The Vintage at Kaanapali The Vintage condos for sale Vintage Q1 2024 2023 2022 2021 2020 2019 Sales 1 3 3 7 4 6 Volume $2,100,000 $5,574,000 $5,190,000 $9,734,000 $4,573,000 $6,840,999 Low SP $2,100,000 $1,775,000 $1,200,000 $1,100,000 $950,000 $890,999 High SP $2,100,000 $1,999,000 $1,995,000 $1,620,000 $1,375,000 $1,425,000 Median SP $2,100,000 $1,800,000 $1,995,000 $1,360,000 $1,124,000 $1,125,000 Average SP $2,100,000 $1,858,000 $1,730,000 $1,390,571 $1,143,250 $1,140,167 Average SP/Sq. Ft $1,167 $931 $797 $693 $621 $610 Average DOM 292 104 203 87 148 237 Average SP/LP 92 96 97 99 96 94 The Whaler at Kaanapali Beach The Whaler at Kaanapali Beach condos for sale Whaler Q1 2024 2023 2022 2021* 2020 2019 Sales 2 5 8 24 7 16 Volume $2,950,000 $6,650,000 $14,931,500 $29,712,000 $7,480,000 $19,000,000 Low SP $1,300,000 $1,085,000 $1,080,000 $500,000 $795,000 $750,000 High SP $1,650,000 $1,420,000 $3,970,000 $3,650,000 $1,250,000 $2,750,000 Median SP $1,475,000 $1,395,000 $1,575,000 $945,500 $1,100,000 $945,000 Average SP $1,475,000 $1,330,000 $1,866,438 $1,238,000 $1,068,571 $1,187,500 Average SP/Sq. Ft $1,630 $2,473 $1,959 $1,524 $1,266 $1,380 Average DOM 223 48 85 116 150 173 Average SP/LP 96 103 98 98 91 95 *Leasehold Sale occurred in this year If you are thinking of buying or selling in Kaanapali, please contact Courtney M. Brown for more detailed information on the market at each of these Kaanapali 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. This information is historical in nature and not a prediction of future value. Real estate values can change depending on a variety of market conditions. Interested parties are advised to do their own due diligence and confirm all figures contained herein. This blog post was updated on 4/5/24.

Maui Property Taxes: Proposed Rates for Fiscal Year July 1, 2024-June 30, 2025

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Fri, 05 Apr 2024 10:18:00 -1000

Update May 15, 2024The rates have been finalized by the county council with some changes: Read Maui Property Tax Rates 2024-2025 Maui Property Taxes: What is proposed for this year? Each year the county council reviews the proposed budget and sets property tax rates for the fiscal year (July 1, 2024-June 30, 2025) This year, the Mayor of Maui County has proposed increases to the Owner Occupant Rate, Residential Rate (real property improved with a dwelling, as defined in the comprehensive zoning ordinance, that would not be classified as “owner-occupied”, “hotel and resort”, “time share”, “short-term rental”, “commercial”, “industrial” or “commercialized residential”), Short Term Rental Rate. There are no proposed changes to the Long Term Rental Category, Commercial, Agricultural, Conservation, Industrial, Hotel & Resort or Timeshare Rates. The county council is taking input from taxpayers on how they feel the proposed budget should be prioritized at https://tinyurl.com/2ztautkh View the Maui County Mayor's Proposed Budget Synopsis * note there is an error in the document provided on the county website. The changes noted in the PDF version of the Budget synopsis for STRs state the increase is 2.6. The actual changes range between 5-27 Classification 2024 (Proposed) 2023 Change Owner Occupied $2.00-$3.25 $1.90-2.75 Tier 1 <$1,000,000 $2.00 $1.90 5 Tier 2 $1,000,001-$3,000,000 $2.50 $2.00 25 Tier 3 $3,000,001> $3.25 $2.75 18 Residential $6.00-$14.00 $5.85-12.50 Tier 1 <$1,000,000 $6.00 $5.85 3 Tier 2 $1,000,001-$4,500,000 $8.50 $8.00 6 Tier 3 $4,500,001> $14.00 $12.50 12 Commercialized Residential $5.00 $4.40 14 Long Term Rental $3.00-$8.00 $3.00-8.00 Tier 1 <$1,000,000 $3.00 $3.00 0 Tier 2 $1,000,001-$3,000,000 $5.00 $5.00 0 Tier 3 $3,000,001> $8.00 $8.00 0 Apartment $3.50 $3.50 0 Short Term Rental $12.5-$15.00 $11.85 Tier 1 <$1,000,000 $12.50 $11.85 5 Tier 2 $1,000,001-$3,000,000 $13.50 $11.85 14 Tier 3 $3,000,001> $15.00 $11.85 27 Commercial (all three tiers) $6.05 $6.05 0 Agricultural $5.74 $5.74 0 Conservation $6.43 $6.43 0 Industrial $7.05 $7.05 0 Hotel & Resort $11.75 $11.75 0 Timeshare $14.60 $14.60 0 The following chart may help illustrate how the proposed changes compare with prior years. Classification 2024 (Proposed) 2023 2022 2021 2020 2019 Owner Occupied $2.00-$3.25 $1.90-2.75 $2.00-2.71 $2.41-2.71 $2.51-2.61 $2.90 Tier 1 <$1,000,000 $2.00 $1.90 $2.00 $2.41 $2.51 NA Tier 2 $1,000,001-$3,000,000 $2.50 $2.00 $2.10 $2.51 $2.56 NA Tier 3 $3,000,001> $3.25 $2.75 $2.71 $2.71 $2.61 NA Residential $6.00-$14.00 $5.85-12.50 $5.85-12.50 $5.45-8.00 $5.45-6.90 $5.60 Tier 1 <$1,000,000 $6.00 $5.85 $5.85 $5.45 $5.45 NA Tier 2 $1,000,001-$4,500,000 $8.50 $8.00 $8.00 $6.05 $6.05 NA Tier 3 $4,500,001> $14.00 $12.50 $12.50 $8.00 $6.90 NA Commercialized Residential $5.00 $4.40 $4.40 $4.40 $4.40 $4.60 Long Term Rental $3.00-$8.00 $3.00-8.00 $3.00-8.00 NA NA NA Tier 1 <$1,000,000 $3.00 $3.00 $3.00 NA NA NA Tier 2 $1,000,001-$3,000,000 $5.00 $5.00 $5.00 NA NA NA Tier 3 $3,000,001> $8.00 $8.00 $8.00 NA NA NA Apartment $3.50 $3.50 $3.50 $5.55 $5.55 $6.31 Short Term Rental $12.5-$15.00 $11.85 $11.85 $11.11-11.20 $11.08 $10.75 Tier 1 <$1,000,000 $12.50 $11.85 $11.85 $11.11 $11.08 NA Tier 2 $1,000,001-$3,000,000 $13.50 $11.85 $11.85 $11.15 $11.08 NA Tier 3 $3,000,001> $15.00 $11.85 $11.85 $11.20 $11.08 NA Commercial (all three tiers) $6.05 $6.05 $6.05 $6.29 $6.29 $7.39 Agricultural $5.74 $5.74 $5.74 $5.94 $5.94 $5.94 Conservation $6.43 $6.43 $6.43 $6.43 $6.43 $6.43 Industrial $7.05 $7.05 $7.05 $7.20 $7.20 $7.48 Hotel & Resort $11.75 $11.75 $11.75 $11.75 $10.70 $11.00 Timeshare $14.60 $14.60 $14.60 $14.60 $14.40 $14.40 What do Maui County Classifications mean? Per the Maui County website*, the County of Maui details the classifications of real property as follows: Time Share – real property that is subject to a time share plan as defined in section 514E-1, Hawaii Revised Statutes. Non-owner-occupied - real property improved with a dwelling, as defined in the comprehensive zoning ordinance, that would not be classified as “owner-occupied”, “hotel and resort”, “time share”, “short-term rental”, “commercial”, “industrial” or “commercialized residential”. Commercialized Residential – real property that serves as the owner’s principal residence and has been granted bed and breakfast home permit, a short-term rental home permit, or a conditional permit allowing a transient vacation rental use. Short Term Rental – lodging or dwelling units occupied by transient tenants for periods of less than six consecutive months, including real property that does not serve as the owner’s principal residence and has been granted a short-term rental home permit or a conditional permit allowing transient vacation rental use without regard to its highest and best use and cannot qualify for a home exemption. Apartment – multi-dwelling-unit improvements containing five or more dwellings that would not be classified “short-term rental”. Commercial Industrial Agricultural Conservation Hotel and Resort – properties occupied by transient tenants for period of less than six consecutive months, have eight or more lodging or dwelling units and employ more than twenty full time persons. Owner-occupied – properties owned and occupied as a principal home and for which a home exemption was filed and granted. NEW Long-term rental – lodging or dwelling units as defined in the comprehensive zoning ordinance occupied by long-term tenants for periods of twelve consecutive months or more to the same tenant and have been granted a long-term rental exemption. Note: No definition was provided for Commercial, Industrial, Agricultural or Conservation. *This information taken from https://www.mauicounty.gov/755/Classification-for-Tax-Rate-Purposes as of the date of this post. It is subject to change. Important Dates July 1—Tax year commences. Taxes are calculated based upon January 1 assessed values and fiscal year tax rates. July 20 — First half of fiscal year tax bills mailed. August 20 — First half of fiscal year tax payments due. September 1 — Deadline for filing dedication petitions. December 1 — Condominium AOAO use declaration. December 31 — Deadline for filing circuit breaker applications for the next fiscal year. December 31 — Deadline for filing exemption claims and ownership documents. January 1 — Assessed values established for use during the next tax year. January 20 — Second half of fiscal year tax bills mailed. February 20 — Second half of fiscal year tax bills due. March 15 — Assessment notices mailed. April 9 — Deadline for filing appeals. May 1 — Certified assessments forwarded to the County Council for budget purposes. June 20 — Tax rates established by the County Council For additional information, all dates to remember, and appeals information visit the Maui County website

Kapalua Resort Market Update Q1 2024

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Thu, 04 Apr 2024 15:07:00 -1000

KAPALUA MARKET UPDATE: Q1 2024 The view from Ironwoods 62, a highly upgraded ocean view residence, currently listed for sale Kapalua Condominiums: Q1 2024 and a historical summary of sales The Kapalua Resort 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. Kapalua Resort Condo Market* KAPALUA RESORT CONDOS Q 1 2024 2023 2022 2021 2020 2019 Number of Sales 2 22 62 145 40 61 Volume $5,745,000 $52,789,000 $145,775,500 $298,816,781 $68,617,500 $124,027,800 Low Sales Price $2,795,000 $1,250,000 $940,000 $600,000 $600,000 $595,000 High Sales Price $2,950,000 $8,200,000 $8,000,000 $13,295,000 $4,200,000 $7,950,000 Median $2,872,500 $1,725,000 $1,455,000 $1,220,000 $1,162,500 $1,050,000 Average SP $2,872,500 $2,399,500 $2,351,218 $2,060,805 $1,715,438 $2,033,242 Average SP/Sq. Ft. $1,700 $1,597 $1,470 $1,154 $1,000 $1,028 Average DOM 80 182 96 177 165 213 Average SP/LP 98 97 99 97 94 96 *Does not include Napili Kai (Puna) Condos, Pailolo Place Condos, Montage Fractionals, or the Ironwoods fractional sale Sales were slower in the Kapalua Resort in the latter half of 2023, which is to be expected in the wake of the devastating wildfires in Lahaina town in August. Historically, the resort is largely a second home market and market activity tends to be greatest in the peak travel seasons of winter/spring. In 2024, sales continued to be slow, with just two recording in the first quarter. That said, the sale at the Ridge Villas set a new a record high, and the sale at the Bay Villas was the second highest in Bay Villa history. Key Stats by Community How does the market in Q1 2024 compare to prior years? Coconut Grove on Kapalua Bay View Coconut Grove Kapalua Condos for sale Coconut Grove Q1 2024 2023 2022 2021 2020 2019 Sales 0 0 2 6 0 0 Volume 0 0 $10,990,000 29,000,000 0 0 Low SP NA NA $5,300,000 3,700,000 NA NA High SP NA NA $5,690,000 6,250,000 NA NA Median SP NA NA $5,495,000 $4,750,000 NA NA Average SP NA NA $5,495,000 4,833,333 NA NA Average SP/Sq. Ft NA NA $2,240 1,883 NA NA Average DOM NA NA 67 154 NA NA Average SP/LP NA NA 93 97 NA NA With just 36 condominium residences located on one of Maui's best beaches, it's not surprising that there isn't much activity. In 2022, there were just two sales at Coconut Grove. The low sale was significantly higher than in 2021. The reason for this discrepancy is that all sales in 2022 were oceanfront, while in 2021 there was a second-row, ocean-view sale. Note: in 2021 and 2022 combined there were 8 sales, which represents 22 of the inventory to change to new ownership. Kapalua Ironwoods* View Kapalua Ironwoods Condos for Sale Kapalua Ironwoods Q1 2024 2023 2022 2021 2020 2019 Sales 0 0 4 5 4 1 Volume 0 0 $16,750,000 $17,020,000 $12,050,000 $2,300,000 Low SP NA NA $2,300,000 $1,500,000 $1,150,000 $2,300,000 High SP NA NA $6,250,000 $4,150,000 $4,200,000 $2,300,000 Median SP NA NA $4,100,000 $4,020,000 $3,350,000 $2,300,000 Average SP NA NA $4,187,500 $3,404,000 $3,012,500 $2,300,000 Average SP/Sq. Ft NA NA $1,729 $1,634 $1,412 $1,065 Average DOM NA NA 149 320 124 671 Average SP/LP NA NA 95 92 88 93 *Note Ironwoods 102 was purchased by Pacaso and has been sold off in 1/4 interests. Those fractional interest sales are not accounted for in the above figures, but are reflected in the graph below. Since 2020 about 30 of the residences at the Ironwoods changed hands. Similar to Coconut Grove, the Ironwoods is a community of just 40 residences located oceanfront in Kapalua. 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. Kapalua Bay Villas View Kapalua Bay Villas Condos for Sale Kapalua Bay Villas Q1 2024 2023 2022 2021 2020 2019 Sales 1 6 10 30 7 14 Volume $2,950,000 $9,994,000 $17,764,000 $41,089,500 $7,538,000 $15,032,500 Low SP $2,950,000 $1,399,000 $1,300,000 $755,000 $675,000 $800,000 High SP $2,950,000 $1,900,000 $3,200,000 $2,900,000 $1,900,000 $1,485,000 Median SP $2,950,000 $1,697,500 $1,437,500 $1,237,000 $1,000,000 $1,062,500 Average SP $2,950,000 $1,665,667 $1,776,400 $1,369,650 $1,076,857 $1,073,750 Average SP/Sq. Ft $1,929 $1,734 $1,496 $1,104 $876 $872 Average DOM 84 124 68 232 149 287 Average SP/LP 99 99 100 97 92 93 In 2023 the Bay Villas saw more condo sales than most complexes in Kapalua. It is noteworthy that it is the only property in the Kapalua Resort with direct oceanfront one-bedroom residences. All six sales in 2023 were one-bedroom condominiums. Of these sales, an oceanfront townhouse floor plan recorded at $1,900,000 which was the record for a one-bedroom residence. In 2022, the Bay Villas also saw a record-high sale of an oceanfront villa which served to increase the average sales price. In 2024, the recording of Kapalua Bay Villa 15G1-3 at $2,950,000 marks the second highest sale in the complexes history, and the highest sale for a second row residence. The record remains the sale of 30B3-4 an oceanfront residence at $3,200,000 in 2022. Kapalua Golf Villas View Kapalua Golf Villas Condos for Sale Kapalua Golf Villas Q1 2024 2023 2022 2021 2020 2019 Sales 0 6 21 44 9 9 Volume NA $9,355,000 $27,773,500 $42,071,750 $7,441,500 $14,446,603 Low SP NA $1,250,000 $940,000 $600,000 $600,000 $595,000 High SP NA $1,850,000 $1,949,000 $1,400,000 $1,200,000 $1,010,000 Median SP NA $1,597,500 $1,215,000 $944,000 $745,000 $785,000 Average SP NA $1,559,167 $1,332,548 $956,176 $826,833 $802,572 Average SP/Sq. Ft NA $1,380 $1,205 $856 $749 $677 Average DOM NA 143 81 122 124 165 Average SP/LP NA 99 100 99 94 97 Like the Bay Villas, there were six sales at the Golf Villas in 2023. However, unlike the Bay Villas sales, which were all one-bedroom residences and no two-bedroom residences, the Golf Villas had three of each. The highest recorded sale in 2023 was $1,850,000, which is 5 below the record sale of a two-bedroom at $1,949,000 in 2022. There have been no Golf Villa sales to date in 2024. Kapalua Ridge Villas View Kapalua Ridge Villas Condos for sale Kapalua Ridge Villas Q1 2024 2023 2022 2021 2020 2019 Sales 1 4 11 28 8 6 Volume $2,795,000 $7,240,000 $15,554,000 $31,301,998 $8,776,500 $4,904,000 Low SP $2,795,000 $1,390,000 $1,250,000 $775,000 $650,000 $650,000 High SP $2,795,000 $2,225,000 $1,900,000 $1,700,000 $1,487,500 $1,100,000 Median SP $2,795,000 $1,812,500 $1,375,000 $1,097,000 $1,135,000 $780,000 Average SP $2,795,000 $1,810,000 $1,414,000 $1,117,929 $1,097,063 $817,333 Average SP/Sq. Ft $1,471 $1,315 $1,179 $813 $701 $653 Average DOM 76 78 65 165 222 263 Average SP/LP 97 99 100 97 96 98 The Ridge Villas is the lowest density of the Kapalua Villas properties (Bay, Golf and Ridge Villas). The condominium residences are here the largest of the three properties and the bulk of the 2023 sales were two-bedroom villas, which ranged from $1,750,000 to $2,250,000, which was the highest sale recorded in MLS for a Ridge Villa until 2024. In 2024, 1723, which was a fully permitted 3B/3B residence (this was a conversion of a 2B Villa into a 3B) set a new record high sale by more than $500,000, recording at $2,795,000. Montage Residences Kapalua Bay View Montage Residences Kapalua Bay Condos for Sale Montage Kapalua Bay Q 1 2024 2023 2022 2021 2020 2019 Sales 0 4 10 27 9 21 Volume NA $21,550,000 $49,605,000 $128,678,533 $28,939,000 $86,445,000 Low SP NA $3,650,000 $3,000,000 $2,695,000 $2,750,000 $2,400,000 High SP NA $8,200,000 $8,000,000 $13,295,000 $4,159,000 $7,950,000 Median SP NA $4,850,000 $4,600,000 $4,145,000 $2,995,000 $3,595,000 Average SP NA $5,387,500 $4,960,500 $4,765,872 $3,215,444 $4,116,429 Average SP/Sq. Ft NA $2,074 $2,027 $1,742 $1,407 $1,556 Average DOM NA 513 151 152 170 173 Average SP/LP NA 97 97 98 99 97 In 2023, there were four sales at the Residences. While it may appear that the sale in 2023 was a record-breaking price for a three-bedroom residence, it should be noted that there were concessions made by the Seller for an upcoming special assessment for an exterior remediation project which resulted in a lower net price. The record-high sale of $13,295,000 in 2021 was for 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. It also should be noted that the developer ceased sales in 2022, leaving just resales available in 2023. In 2024, on April 1st, just after the first quarter ended, two sales at the Montage recorded: 4201 a 3B/3.5B Hotel Residence at $4,200,002201 a 4B/4.5B Grand Residence at $12,000,000 which is the high sale for condominiums (YTD as of the date of this post) on Maui. Ritz-Carlton Kapalua Residences View Ritz-Carlton Residences Kapalua Condos for Sale Ritz-Carlton Residences Q 1 2024 2023 2022 2021 2020 2019 Sales 0 2 4 5 3 1 Volume NA $4,645,000 $7,429,000 $9,655,000 $3,872,500 $900,000 Low SP NA $1,550,000 $990,000 $945,000 $735,000 $900,000 High SP NA $3,100,000 $2,800,000 $2,800,000 $2,300,000 $900,000 Median SP NA $2,325,000 $1,820,000 $1,800,000 $837,500 $900,000 Average SP NA $2,325,000 $1,857,250 $1,931,000 $1,290,833 $900,000 Average SP/Sq. Ft NA $1,932 $1,557 $1,446 $1,065 $1,034 Average DOM NA 255 161 448 216 203 Average SP/LP NA 88 102 97 88 92 To date, there have been no sales at the Ritz-Carlton Residences in 2024. KAPALUA MARKET UPDATE: Homes and Land Sales through Q1 2024 The view from 310 Cook Pine Drive in Pineapple Hill, Kapalua which sold at $6,150,000 in 2023. KAPALUA RESIDENTIAL & VACANT LAND 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 & 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 2023, there were 11 home sales. All but two were in Pineapple Hill and Pineapple Hill Estates. In 2024, the market is slow with no residential sales YTD in the Kapalua Resort. There are currently two pending sales, a home in Pineapple Hill Phase I and a home in Mahana Estates. KAPALUA HOME SALES BY COMMUNITY: Q1 2024 and a 5 Year Overview Homes Q1 2024 2023 2022 2021 2020 2019 Number of Sales 0 11 14 29 17 18 Volume NA $55,430,000 $74,700,000 $144,197,500 $90,787,000 $47,954,020 Low SP NA $2,975,000 $2,750,000 $2,062,500 $1,600,000 $1,489,020 High SP NA $7,680,000 $7,900,000 $15,000,000 $24,000,000 $6,000,000 Median SP NA $4,400,000 $5,200,000 $4,150,000 $3,500,000 $2,575,000 Average SP NA $5,039,091 $5,335,714 $4,972,327 $5,240,411 $2,664,112 Average SP/Sq. Ft. NA $1,241 $1,112 $982 $1,063 $715 Average DOM NA 165 193 227 151 270 Average SP/LP NA 93 97 94 91 92 PINEAPPLE HILL & PINEAPPLE HILL ESTATES View Pineapple Hill & Pineapple Hill Estates Homes for sale Pineapple Hill Homes Q1 2024 2023 2022 2021 2020 2019 Number of Sales 0 9 7 15 10 15 Volume NA $41,750,000 $35,575,000 $46,012,500 $27,187,000 $35,834,020 Low SP NA $4,150,000 $2,750,000 $2,062,500 $1,600,000 $1,489,020 High SP NA $6,450,000 $7,900,000 $4,850,000 $3,750,000 $3,200,000 Median SP NA $4,300,000 $4,825,000 $2,700,000 $2,625,000 $2,300,000 Average SP NA $4,638,889 $5,082,142 $3,067,500 $2,718,700 $2,388,935 Average SP/Sq. Ft. NA $1,219 $1,023 $768 $696 $692 Average DOM NA 154 134 160 137 262 Average SP/LP NA 94 96 95 95 94 PLANTATION ESTATES AT KAPALUA HOMES View Plantation Estates Homes for Sale Plantation Estates Homes Q1 2024 2023 2022 2021 2020 2019 Number of Sales 0 1 4 6 3 1 Volume NA $7,680,000 $24,225,000 $32,635,000 $13,850,000 $6,000,000 Low SP NA $7,680,000 $5,425,000 $4,025,000 $3,750,000 $6,000,000 High SP NA $7,680,000 $7,500,000 $10,100,000 $5,650,000 $6,000,000 Median SP NA $7,680,000 $5,650,000 $4,490,000 $4,490,000 $6,000,000 Average SP NA $7,680,000 $6,056,250 $5,439,167 $4,616,667 $6,000,000 Average SP/Sq. Ft. NA $1,266 $920 $933 $1,006 $972 Average DOM NA 42 306 258 70 215 Average SP/LP NA 97 96 93 92 81 HONOLUA RIDGE HOMES View Honolua Ridge Homes for sale Honolua Ridge Homes Q1 2024 2023 2022 2021 2020 2019 Number of Sales 0 0 1 4 1 2 Volume NA NA $5,300,000 $25,500,000 $3,850,000 $6,120,000 Low SP NA NA $5,300,000 $5,000,000 $3,850,000 $2,850,000 High SP NA NA $5,300,000 $8,700,000 $3,850,000 $3,270,000 Median SP NA NA $5,300,000 $5,900,000 $3,850,000 $3,060,000 Average SP NA NA $5,300,000 $6,375,000 $3,850,000 $3,060,000 Average SP/Sq. Ft. NA NA $1,493 $1,175 $1,306 $750 Average DOM NA NA 95 276 40 352 Average SP/LP NA NA 97 94 91 89 MAHANA ESTATES HOMES View Mahana Estates Homes Mahana Estates Homes Q1 2024 2023 2022 2021 2020 2019 Number of Sales 0 1 2 1 1 0 Volume NA $6,000,000 $9,600,000 $5,250,000 $6,400,000 NA Low SP NA $6,000,000 $4,750,000 $5,250,000 $6,400,000 NA High SP NA $6,000,000 $4,850,000 $5,250,000 $6,400,000 NA Median SP NA $6,000,000 $4,800,000 $5,250,000 $6,400,000 NA Average SP NA $6,000,000 $4,800,000 $5,250,000 $6,400,000 NA Average SP/Sq. Ft. NA $1,416 $1,617 $1,229 $1,098 NA Average DOM NA 379 224 52 88 NA Average SP/LP NA 86 100 99 77 NA KAPALUA PLACE & OCEANFRONT HOMES 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. With just eight oceanfront homes that are part of the resort, it's not uncommon to no sales. View Kapalua Place and Kapalua Oceanfront homes for sale Oceanfront Homes Q1 2024 2023 2022 2021 2020 2019 Number of Sales 0 0 0 3 2 0 Volume 0 0 0 $34,800,000 $39,500,000 0 Low SP NA NA NA $8,700,000 $15,500,000 NA High SP NA NA NA $15,000,000 $24,000,000 NA Median SP NA NA NA $11,100,000 $19,750,000 NA Average SP NA NA NA $11,600,000 $19,750,000 NA Average SP/Sq. Ft. NA NA NA $1,809 $3,975 NA Average DOM NA NA NA 489 425 NA Average SP/LP NA NA NA 93 79 NA KAPALUA LAND SALES BY COMMUNITY: Q1 2024 and a 5 Year Overview An aerial view of 322 Cook Pine Drive, which closed at $995,000 in 2023 Land Q1 2024 2023 2022 2021 2020 2019 Number of Sales 1 4 20 58 8 2 Volume $1,700,000 $4,970,000 $32,839,500 $65,265,000 $13,925,000 $3,150,000 Low SP $1,700,000 $995,000 $845,000 $700,000 $850,000 $1,300,000 High SP $1,700,000 $1,525,000 $3,700,000 $2,600,000 $8,000,000 $1,850,000 Median SP $1,700,000 $1,225,000 $1,450,000 $982,500 $837,500 $1,575,000 Average SP $1,700,000 $1,242,500 $1,641,975 $1,135,259 $1,740,625 $1,575,000 Average SP/Sq. Ft. $19 $33 $38 $17 $32 $23 Average DOM 117 279 202 178 284 60 Average SP/LP 92 87 96 95 89 100 In the first quarter of 2024, there was just one land sale that was part of the resort. A lot in Mahana Estates closed at $1,700,000. It should be noted that there was another parcel to close within the MLS district of Kapalua, a lot that was 4 acres but not buildable, purchased by neighbors for view protection. It closed at $1,425,000. Pineapple Hill & Pineapple Hill Estates Land View Pineapple Hill & Pineapple Hill Estates Land for Sale Pineapple Hill Land Q1 2024 2023 2022 2021 2020 2019 Number of Sales 0 1 5 2 1 0 Volume NA $995,000 $5,787,000 $2,500,000 $950,000 0 Low SP NA $995,000 $879,000 $1,195,000 $950,000 NA High SP NA $995,000 $1,500,000 $1,305,000 $950,000 NA Median SP NA $995,000 $1,090,000 $1,090,000 $950,000 NA Average SP NA $995,000 $1,157,400 $1,250,000 $950,000 NA Average SP/Sq. Ft. NA $100 $101 $62 $87 NA Average DOM NA 333 204 143 314 NA Average SP/LP NA 100 100 100 90 NA It is not surprising to see so few sales in Pineapple Hill. There are very few vacant lots left as the majority of the community has been built. Plantation Estates Land View Plantation Estates Land for Sale Plantation Estates Land Q1 2024 2023 2022 2021 2020 2019 Number of Sales 0 1 4 5 2 0 Volume NA 1 $7,545,000 $7,965,000 $1,700,000 0 Low SP NA $1,525,000 $845,000 $975,000 $800,000 NA High SP NA $1,525,000 $3,700,000 $2,600,000 $900,000 NA Median SP NA $1,525,000 $1,500,000 $1,400,000 $850,000 NA Average SP NA $1,525,000 $2,272,500 $1,593,000 $850,000 NA Average SP/Sq. Ft. NA $17 $18 $15 $9 NA Average DOM NA 409 407 226 53 NA Average SP/LP NA 76 88 97 81 NA Mahana Estates Land View Mahana Estates Land for Sale Mahana Estates Land Q1 2024 2023 2022 2021 2020 2019 Number of Sales 1 1 5 42 3 2 Volume $1,700,000 $1,250,000 $7,670,000 $41,425,000 $2,425,000 $3,150,000 Low SP $1,700,000 $1,250,000 $1,200,000 $700,000 $800,000 $1,300,000 High SP $1,700,000 $1,250,000 $1,945,000 $2,150,000 $825,000 $1,850,000 Median SP $1,700,000 $1,250,000 $1,400,000 $852,500 $800,000 $1,575,000 Average SP $1,700,000 $1,250,000 $1,534,000 $986,548 $808,333 $1,575,000 Average SP/Sq. Ft. $19 $7 $29 $17 $12 $23 Average DOM 117 167 119 163 157 60 Average SP/LP 92 97 96 94 95 100 Mahana Estates is Kapalua Resort's newest residential offering. CC&Rs allow for more contemporary structures which makes it a popular choice. Honolua Ridge Land View Honolua Ridge Land for Sale Honolua Ridge Land Q1 2024 2023 2022 2021 2020 2019 Number of Sales 0 1 6 9 1 0 Volume NA $1,200,000 $11,837,500 $13,365,000 $850,000 0 Low SP NA $1,200,000 $1,163,000 $805,000 $850,000 NA High SP NA $1,200,000 $2,795,000 $2,000,000 $850,000 NA Median SP NA $1,200,000 $1,962,500 $1,300,000 $850,000 NA Average SP NA $1,200,000 $1,972,917 $1,485,000 $850,000 NA Average SP/Sq. Ft. NA $7 $7 $7 $5 NA Average DOM NA 206 133 227 360 NA Average SP/LP NA 75 97 92 95 NA 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, Kapalua Condos, Homes and Land for Sale 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. *Kapalua Resort data contained in the search is pulled from the Maui MLS using a map search which is outlined to include condominiums in the Kapalua Resort. It does not include condominium data for the condominiums at Napili Kai or Pailolo Place which fall within the MLS District of Kapalua but are not part of the Kapalua Resort. Stats on other sites may pull different data if not excluding these areas.

Maui Real Estate Statistics: March 2024

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Thu, 04 Apr 2024 11:01:00 -1000

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. The report notes: U.S. existing-home sales improved for the second month in a row, jumping 9.5 to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of REALTORS®(NAR). The rebound in home sales comes amid fluctuating mortgage rates and elevated sales prices, indicating there is plenty of buyer demand heading into the spring selling season. New Listings increased 19.8 percent for Single Family homes and 46.5 percent for Condominium homes. Pending Sales decreased 4.3 percent for Single Family homes and 1.1 percent for Condominium homes. Inventory remained flat for Single Family homes but increased 105.5 percent for Condominium properties. Median Sales Price increased 9.5 percent to $1,303,692 for Single Family homes and 62.9 percent to $1,300,000 for Condominium homes. Days on Market increased 11.8 percent for Single Family homes but decreased 35.6 percent for Condominium homes. Months Supply of Inventory increased 7.1 percent for Single Family homes and 146.2 percent for Condominium homes. The recent surge in home sales was likely due to a dip in mortgage rates in December and an increase in housing supply nationwide. According to NAR, total inventory grew 5.9 month-over-month and 10.3 year-overyear to 1.07 million units, for a 2.9 months’ supply at the current sales pace. Buyer demand remains robust, and the limited supply of inventory helped push the median existing-home sales price up 5.7 year-over-year to $384,500, the eighth consecutive month of annual price increases. MAUI HOMES: ACTIVE LISTINGS, PENDING SALES, AND SALES* Active Listings: 233 homes from $490,000 Leasehold or a home for sale in Hawaiian Home Lands to $42,500,000 for a home for sale on Keawakapu Beach. This is followed by a $33,000,000 oceanfront home for sale in Makena and a $30,000,000 oceanfront home for sale in Kapalua ResortPending: 130 homes from $499,000 for a home in Hana to $9,975,000 for a home in Kula.Sold (2024): 192 homes from $550,000 in Wailuku to $18,500,000 for a home in Keahou Makena MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings: 437 condos listed from $235000 Leasehold for a condo in Honokowai to $18,000,000 for a condominium residence at Wailea PointPending: 171 condos pending, ranging from $310,000 for a condo in Kahului to $4,500,000 for a condominium at the Papali WaileaSold (2024): 175 condos sold, ranging from $95,000 to $12,000,000 for a condo at Montage Kapalua Bay MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings: 125 parcels from $150,000 in Keanae to $75,000,000 for over 3546 acres for Hana RanchPending: 21 lots from $299,000 in Hana to $2,350,000 for a lot in HanaSold (2024): 62 lots from $175,000 in Haiku to $11,700,000 for 26 acres sold as part of Discovery's Makena Golf and Beach Club. *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 the date of this post, 4/4/24 Read the full report and see how it compares to prior years here: Maui Real Estate Statistics