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        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/2025-02/</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-pineapple-hill-kapalua-introducing-324-cook-pine-drive.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/market-spotlight-pineapple-hill-kapalua-introducing-324-cook-pine-drive.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Market Spotlight: Pineapple Hill, Kapalua | Introducing 324 Cook Pine Drive</title>
    <description> <![CDATA[ 
Market Spotlight: Pineapple Hill, Kapalua, Maui


Introducing 324 Cook Pine, Pineapple Hill





New to market is 324 Cook Pine Drive, Kapalua, Maui  


Welcome to Pineapple Hill, where elegance meets the effortless beauty of Maui’s world-renowned Kapalua Resort.


Perched in one of Maui’s most sought-after communities, this gracious home offers breathtaking panoramic ocean, island, and sunset views, seamlessly blending indoor and outdoor living. The expansive living room opens to sprawling covered lanais, creating an ideal setting for entertaining or tranquil relaxation. Enjoy the pool and spa, where whale-watching and Maui’s famed sunsets become part of your daily routine.


Upstairs, you’ll find three luxurious bedroom suites, including a primary retreat with a private lanai, elegant sitting area, spacious walk-in closet, and spa-inspired ensuite featuring a soaking tub and oversized shower.


Modern upgrades ensure efficiency and sustainability, including 62 solar panels, four Tesla batteries, new AC, plush carpeting, and designer blinds.


Located within the gated community of Pineapple Hill, residents enjoy access to resort-style amenities, including a clubhouse, pool, tennis &amp; pickleball courts, and dedicated on-site management. Amenities in Kapalua include some of Maui’s finest beaches, award-winning dining, and the world-famous Kapalua Plantation &amp; Bay golf courses.


Pineapple Hill Current Listings &amp; Pending Sales






Status


Address


Original List Price


List Price


Beds


Baths


SQFT


Acres


$/SQFT


DOM


Built


Subdivision


MLS 




ACT


324 Cook Pine Dr


$4,250,000


$4,250,000


3


3.5


3,670


0.25


$1,158


0


1990


Pineapple Hill


405060




ACT


514 Pacific Dr


$5,500,000


$5,500,000


4


4.5


3,704


0.22


$1,485


53


2005


Pineapple Hill


404516




ACT


104 Woodrose Pl


$5,850,000


$5,850,000


4


3.5


3,315


0.23


$1,765


124


1989


Pineapple Hill


403822




ACT


1008 Sunset Pl


$5,875,000


$5,875,000


3


3.5


4,574


0.23


$1,284


224


2002


Pineapple Hill


402889




PEND


306 Cook Pine Dr


$5,995,000


$5,975,000


4


4.5


4,150


0.25


$1,440


386


2023


Pineapple Hill 


401098




PEND


1216 SUMMER Rd


$11,000,000


$8,450,000


6


6.5


7,448


0.62


$1,135


460


1990


Pineapple Hill


400328






At the time of this post, there are four homes actively listed for sale, and two homes pending.  All are located in Pineapple Hill, the first phase of the development. 


It should be noted that of the pending sales, 306 Cook Pine Drive is an unfurnished, newly constructed home.  1216 Summer Road is an older home on a double lot, a rarity in phase one of the development.


2024 Key Sales Stats | Pineapple Hill &amp; Pineapple Hill Estates Homes






Pineapple Hill Homes


2024


2023


2022


2021


2020




Number of Sales


4


9


7


15


10




Volume


$20,288,000


$41,750,000


$35,575,000


$46,012,500


$27,187,000




Low SP


$3,150,000


$4,150,000


$2,750,000


$2,062,500


$1,600,000




High SP


$6,875,000


$6,450,000


$7,900,000


$4,850,000


$3,750,000




Median SP


$5,131,500


$4,300,000


$4,825,000


$2,700,000


$2,625,000




Average SP


$5,072,000


$4,638,889


$5,082,142


$3,067,500


$2,718,700




Average SP/Sq. Ft.


$1,449


$1,219


$1,023


$768


$696




Average DOM


150


154


134


160


137




Average SP/LP


94


94


96


95


95






2024 Sales | Pineapple Hill &amp; Pineapple Hill Estates Homes






Status


Address


List Price


Sold Price 


SP/LP


Date


Beds


Baths


Sq. Ft.


Acres


$/Sq. Ft.


DOM


Built


Community




SLD


712 Fairway Dr


$3,300,000


$3,150,000


95


4/25/24


3


3


2,361


0.20


$1,334.18


77


1998


Pineapple Hill




SLD


110 Woodrose Pl


$5,900,000


$5,513,000


93


6/10/24


3


3.5


3,038


0.23


$1,814.68


133


2010


Pineapple Hill 




SLD


238 Crestview Rd


$4,900,000


$4,750,000


97


6/14/24


4


4.5


4,121


0.47


$1,152.63


179


2007


Pineapple Hill Estates




SLD


229 Crestvew Rd


$7,495,000


$6,875,000


92


7/31/24


4


4


4,598


0.48


$1,495.22


209


2005


Pineapple Hill Estates






2024 Key Sales Stats | Pineapple Hill &amp; Pineapple Hill Estates Land






Pineapple Hill Land


2024


2023


2022


2021


2020




Number of Sales


1


1


5


2


1




Volume


$985,000


$995,000


$5,787,000


$2,500,000


$950,000




Low SP


$985,000


$995,000


$879,000


$1,195,000


$950,000




High SP


$985,000


$995,000


$1,500,000


$1,305,000


$950,000




Median SP


$985,000


$995,000


$1,090,000


$1,090,000


$950,000




Average SP


$985,000


$995,000


$1,157,400


$1,250,000


$950,000




Average SP/Sq. Ft.


$87


$100


$101


$62


$87




Average DOM


29


333


204


143


314




Average SP/LP


100


100


100


100


90






2024 Sales | Pineapple Hill Land






Status


Address


List Price


Sold Price 


SP/LP


Date


Acres


DOM


$/Sq. Ft.


Community


MLS




SLD


1010 Sunset Pl


$985,000


$985,000


100


5/24/24


0.26


29


$87


Pineapple Hill


401954






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


 ]]> </description>
    <pubDate>Mon, 24 Feb 2025 12:44:00 -1000</pubDate>
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<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/maui-short-term-rental-update-february-2025.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/maui-short-term-rental-update-february-2025.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Maui Short Term Rental Update: February 2025</title>
    <description> <![CDATA[ 
MAUI VACATION RENTAL (TRANSIENT ACCOMMODATIONS) &amp; SHORT TERM RENTAL UPDATE: February, 2025


Maui, like many places around the US that are popular vacation destinations, has grappled with affordable housing and workforce housing for decades. The wildfire that swept through Lahaina town on August 8, 2023 has highlighted the critical need for affordable housing in Maui County.  


On May 4, 2024, the Hawaii State Legislature passed SB2919 and it was signed into law by Governor Josh Green on May 4, 2024. 


Per the governor's website,  &quot;By addressing the issue of illegal short-term rentals, SB 2919 aims to alleviate Hawaiʻi’s housing crisis and increase housing levels throughout the state. This bill provides counties with home rule authority to see that vacation rentals are not allowed in communities that do not want them.&quot;  Read More


In anticipation of the governor signing the bill into law, Maui County's Mayor Richard Bissen held a press conference on May 3rd.  During that conference, he announced his intent to present a bill  that “If successful, this legislation will support the return of approximately 7,000 transient vacation rentals (TVRs) to the local housing market and specifically 2,200 in West Maui, again, for long-term rental consideration.”  It should be noted that these rentals of Apartment Zoned properties have not been operating illegally, but rather these are legal short-term rentals through a section of the Maui County Code, Chapter 19.12.020


As described by the Mayor, the measure would:




Phase out all STRs on the Minatoya List located in West Maui effective July 1, 2025.


Phase out all STRs on the Minatoya List located in all other parts of Maui effective January 1, 2026.




Note:  STR (Short Term Rentals) and TVR (Transient Vacation Rentals) are often used interchangeably on resource sites and articles.


In a Maui County Press Release dated July 26, 2024


&quot;Following the conclusion of the recessed meeting of the Maui Planning Commission this past Tuesday, the Commission voted unanimously to recommend adoption of Mayor Richard Bissen’s proposed bill to phase out Transient Vacation Rentals in the Apartment districts. Molokaʻi Planning Commission voted to recommend adoption on July 10, and Lānaʻi Planning Commission voted on July 17 to forward its recommendations to the County Council.Maui Planning Commission added recommendations to consider the economic impacts of the proposal using the University of Hawai‘i Economic Research Organization study; consider the social, cultural, environmental and quality of life impacts of this proposal; consider excluding those properties that are community plan-designated for hotel use and those properties that are already partially hotel zoned. The commission also recognized the need for immediacy in West Maui and discussed the possibility of changing the timeline of the phase-out to up to three years in South Maui.The proposal to phase-out more than 7,100 short-term rentals in apartment districts on Maui will be submitted with the Commission’s report and recommended amendments to Maui County Council for final decision-making, according to the County of Maui Planning Department. The report will include recommendations from the Moloka‘i and Lānaʻi Planning Commissions.&quot;


Where Does Maui's TVR Phase-Out Legislation Stand?


The Planning Commission had 120 days from their July 23, 2024 Public Hearing to pass the bill and their recommendations to the Maui County Council.   The Council received the bill on December 20, 2024 and began looking for a contractor to complete an  Economic Impact Study. $300,000 was budgeted for the study.


Per Maui Now's February 17, 2025 reporting, the County Council was unable to secure an independent firm to conduct the Economic Impact Study. 


The County Council has a 180-day deadline (June 18, 2025) from receipt to take action on the bill to phase out transient rentals in the Apartment Zone.


If the bill is passed, it is expected to face legal challenges.



 


Below are some frequently asked questions and links to resources and source information.  As always, interested parties are advised to do their own due diligence and consult with the appropriate professional, as county zoning rules and ordinances may change over time.


MAUI TRANSIENT/SHORT-TERM/VACATION RENTAL FAQS


For the purpose of the information below, &quot;Transient Vacation Rental&quot; or &quot;TVR&quot; is used interchangeably with the terms short-term rentals and vacation rentals. 


1. What is a Transient Vacation Rental (TVR)?


Per Maui County's website, a TVR (short-term or vacation rental) is any rental of a housing unit for less than 180 days. The Maui County Code Chapter 19.37 prohibits transient vacation rentals outside of the hotel district. 


List of Maui's Hotel Zoned Condominiums


2. What if the condominium property I'm considering does not fall under Maui County's Code's Hotel District?  Can I still rent it short-term as a TVR?  What is the Minatoya List?


Per the Maui County TVR FAQ webpage: &quot;An estimated 16,000-plus TVRs may operate legally in the County, many in multi-unit buildings, along with several hundred single family units. They operate legally because they are in an approved zoning district (hotel, business, historic, etc). Those that are not in approved districts and are operating legally, have applied for and received a “conditional permit” that is required to conduct a vacation rental business in a residential, rural or agricultural zoned district.&quot;


Per the current county code (County Code Chapter 19.12.020 section G), TVRs of condominiums are currently permitted in apartment zoning (A-1 and A-2) if they meet the following criteria:


1. The building or structure received a building permit, special management area use permit, or planned development approval that was lawfully issued by and was valid, or is otherwise confirmed to have been lawfully existing, on April 20, 1989.2. Transient vacation rental use was legally conducted in any lawfully existing dwelling unit within the building or structure prior to September 24, 2020 as determined by real property tax class or payment of general excise tax and transient accommodations tax.3. The number of rooms or units allowed for transient vacation rental use may not increase beyond those allowed for such use as of January 7, 2022. Existing transient vacation rentals may be reconstructed, renovated, or expanded if no new rooms or transient vacation rental units are added.4. The property owner or operator holds general excise tax and transient accommodations tax licenses and is current in payment of State and County taxes, fines, or penalties assessed in relation to the transient vacation rental.5. The planning director and director of finance must maintain a publicly available list of all transient vacation rental units allowed under this section to the best of the departments' knowledge at the time the list is posted. The list is informational only and is not a confirmation of zoning or allowable uses. Inclusion of a property on the list does not establish any right to operate a transient vacation rental unit, and no person may rely upon the list to establish the right to operate as a transient vacation rental unit. Any interested person must consult the department with respect to any specific property's ability to operate as a transient vacation rental unit.6. Advertisements for transient vacation rental use must include the subject property's registration number, which is the subject property's tax map key number, without punctuation marks.7. A declaration in accordance with section 19.12.025 must not have been filed.


This section of the county code and the vested rights to conduct transient vacation rental use may change under the Mayor's proposed bill.


Updated List of Condominiums per the County of Maui Short Term Rental List updated 6.27.2024


3. What is the Minatoya List?


In 2001, Maui County's Deputy Corporate Counsel, Richard K. Minatoya, issued a legal opinion that was later  codified in Chapter 19.12.020.  Subsequently, there is a list of condominiums, apartments and planned developments that meet the criteria outlined above in question 2.  


The County of Maui maintains &quot;a list of Apartment-zoned properties that are generally recognized to have the vested right to conduct transient vacation rental use under the current county code.&quot; This list is often referred to as the &quot;Minatoya List&quot;.


It is noted on the list &quot;This list does not grant any entitlement that is not allowed by zoning or any other provisions of the Maui County Code. This list is subject to error; to determine if short-term occupancy is allowed on any property, confirmation should be obtained from the Department of Planning.&quot;  


If the mayor's proposed legislation passes, the apartment-zoned condominiums on this list would be affected.   It is not known if other zonings would be affected or those rentals allowed by ordinances. The proposal may go through revisions at the Planning Department and at the County Council.  It is advised to seek confirmation from the Department of Planning and keep updated on the legislation.


4.  What if I am considering a single-family residence or ohana?


For a single-family and/or ohana home in the Apartment, Residential and Agricultural Districts, if an exemption is not in place for the subdivision, an owner would have to apply for and gain approval for one of the following in order to use the property as a TVR:




B&amp;B Permit (County Code Chapter 19.64), per the zoning ordinances, the owner/proprietor of a B&amp;B shall be a resident of the County and shall reside, on a full-time basis, on the same lot being used as the bed and breakfast home.


Short Term Rental Home (STRH) Permit (County Code Chapter 19.65).  It should be noted that short-term rental home permits are subject to a variety of conditions, the owner must have owned the home for five years prior to the application, they are currently non-transferable, and the county has placed caps on the number allowed in each area.


Conditional Use Permit: Outside of the above zoning districts, there are short-term rentals that have received approval to operate with a Conditional Permit.  




5. For homes with Short-Term Rental Home Permits.  Any Updates since originally the permit process was introduced? Yes.  The following are some key updates to the code:




Update as of 4/12/2018: Maui County has passed a law that changes one of the requirements for the ability to apply for a permit to rent for any period of less than 180 days if the property does not have hotel zoning.  Previously, the application required that the home be at least five years old.  With the new law, the applicant must have owned the home for five years prior to applying for the short-term rental home permit.  This new law was passed on 3/27/2018 takes effect on 9/27/2018.


Update as of 1/7/2022: Maui County Council passed a two-year moratorium on new short-term rentals (Ordinance 5316)


Update 4/8/2022: The Maui County Council’s Planning and Sustainable Land Use Committee recently advanced legislation that would essentially codify the moratorium, and function to cap the number of visitor accommodations at existing levels (Resolution 22-70)Any interested parties should investigate current legislation and proposals at the time of your purchase, as well as the applicable county zoning ordinances that apply to the property that is of interest. 




6. With the 2-Year Moratorium on Transient Accommodations in Ordinance 5316 how does that affect buying a condominium at a property where rentals are permitted but the unit isn't currently rented?


This is something the Realtor's Association of Maui's Government Affairs department has been asked, and they responded that &quot;this legislation should not impact any units that are allowed to conduct transient accommodations, even if those units aren’t actually conducting transient accommodations now. This specific point was discussed at the PSLU Committee’s March 23, 2022 meeting, and the original bill was amended to ensure that this right would be preserved, even if vacation rentals aren’t being conducted.&quot; For details on these changes, and a clearer understanding of the legislative intent on this matter, they point us to the meeting minutes from March 23rd beginning around page 34.


7. The Resolution also changes Section 19.32.040 of the Maui County Code to say that “transient vacation rentals are not permitted in planned developments.” Does this mean that transient vacation rentals will become unlawful in planned developments?


Again turning to our Government Affairs Department: &quot;According to Section 20 of the proposed legislation, these changes will only apply “to new transient accommodation applications that have not received final discretionary approval prior to January 7, 2022.” Therefore, existing planned developments that currently allow transient accommodations will continue to be allowed to conduct transient accommodations. Notwithstanding, TVR use will likely be considered a “lawful non-conforming use,” which means it is allowed but it may potentially be susceptible to elimination through legislation down the line.&quot;


8. Can I manage a vacation rental or long-term rental property myself?  Can a relative or an employee manage the property for me?


An owner can manage their vacation rental or long-term themselves, but they must be on island to do so. If the owner are not on island, they do need to provide their renters with a Local Contact and/or managing agent, who resides on island.  Per Hawaii Landlord Tenant Code, Chapter 521, &quot;An absentee landlord shall designate an agent to act on the landlord's behalf. The agent must reside on the same island as the rental unit.&quot;  Per the DCCA, the designated on-island agent must be licensed if engaging in any activity for which a real estate license is required or manages property for more than one owner.


9. Is a landlord obligated to collect General Excise Tax (GET) and Transient Accommodations Tax (TAT)?Yes. The landlord must collect and pay GET and TAT per the Revised Statute 237.  MCTAT is also collected (Maui County Transient Accommodations Tax)


GET=4.5 (4 Hawaii State GET and .5 Maui County GET)TAT=13.25 (10.25 Hawaii State TAT and 3 Maui County TAT)


These tax rates are subject to change.


10. When advertising a vacation rental online, are there any requirements?


Yes...enter Act 204 in 2016 and requirements relating to providing the registration, tax ID and provide the Local Contact information. In addition to helping to ensure owners of transient vacation rental properties collect and pay the appropriate taxes, it also helps consumers investigate whether an online rental advertisement is real or fraudulent and provides a contact in case of an emergency at the property. Per the website for the Governor of the State of Hawaii, Act 204: &quot;authorizes DOTAX to enforce civil penalties for operators and plan managers who fail to display the certificate of registration and registration ID numbers for transient accommodations and resort time share vacation plans. Authorizes DOTAX to issue citations for failure to provide the registration identification number or link to the number and the contact information of the local contact in an advertisement for a transient accommodation or resort time share vacation plan.&quot; 


11. Does operating a TVR affect my property tax rate?  Does owning a condominium where TVR's occur impact my tax classification? 


Yes.  Per Maui County's Website on the date of this post, the county classifies real property tax for properties 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 that would not be classified as “owner-occupied,” “hotel and resort,” “time share,” “TVR-STRH,” “commercial,” “industrial,” “commercialized residential,” or “long-term rental.&quot;


Commercialized Residential – real property that serves as the owner’s principal residence and has been granted a bed and breakfast home permit, a short-term rental home permit, or operates as a transient vacation rental, and cannot qualify for a home exemption.


TVR-STRH – 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 ““TVR-STRH.”


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 – real property owned and occupied as a principal home and for which a home exemption was filed and granted. The exemption is $200,000 as of the date of this post.


Long-term rental – dwelling units 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.  As of the date of this post, the exemption up to $200,000 on a parcel that is occupied as a long-term rental for twelve (12) consecutive months or longer to the same tenant.  




The website notes: &quot;Property is classified based upon its highest and best use. Properties receiving home exemptions, long-term rental exemptions, permitted bed and breakfasts and permitted transient vacation rentals are exceptions.&quot;


12. What about using my property as a Long Term Rental?


In an effort to bolster housing for local residents, the county passed Bill 129 which creates an additional tax advantage to someone choosing to rent their property on a long-term basis.  This bill essentially creates a &quot;long-term rental&quot; tax classification and exemption.  


On January 1, 2022, lodging or dwelling units occupied by long-term tenants for periods of 12 consecutive months or more to the same tenant may be granted a long-term rental exemption.  Six-month and month-to-month leases do not qualify.  Properties without a home exemption will be eligible for a $200,000 long-term rental exemption.  Those that have a home exemption and qualify for a long-term rental exemption will be eligible for an additional $100,000 exemption and will be classified as Owner-Occupied.


To Apply, an owner must complete the Long Term Rental Exemption Form and a copy of the valid signed lease agreement by visiting www.mauipropertytax.com.  The deadline for filing is at the end of each calendar year.


A long-term rental is subject to GET (General Excise Tax) but is not subject to TAT (Transient Accommodations Taxes)


13. Any other comments?


When purchasing real estate, it is always advised to consult with the appropriate legal and tax professionals.  


If considering a property that would be used as a TVR and not living on island, it is recommended to speak with and interview licensed professional management companies.  There are sometimes on-site rental management offices, as well as independent real estate companies that specialize in the management of transient vacation rentals.


If you are considering purchasing a property here on Maui to use as a Transient Vacation Rental (TVR), you should be sure to check with the Planning Department, as well as on the current state and county zoning laws, rules and regulations, and tax laws, as well as the Residential Landlord-Tenant Code.  Per the Maui County website, there are proposed legislative bills that may change the permitting process, requirements and areas.  Find more information on these resource sites:


HELPFUL RESOURCES:Information in this post is taken from the Maui County website and the Maui County Municipal Code website. Landlord Tenant Code and Short Term Rentals/Taxation are addressed in chapters 237, 467, and 521 of the Hawaii Revised Statutes




Maui County Codes: Chapter 19 Zoning Ordinances and Permitted Uses


Maui Real Property Tax Assessments: search properties


Maui County: Real Property Division


Act 204


Short Term Rental Permit Information


Minatoya Opinion


Brochure Renting Residential, April 2016


Brochure Transient Accommodations April, 2016


For Consumers booking a vacation rental:  &quot;Per Maui County Website, there are more than 16,000 units (i.e., apartments, condos, houses) that are legally eligible to operate as short-term (less than six months) rentals without requiring a Bed &amp; Breakfast Permit or Conditional Permit. These units are generally located in districts zoned for hotel use, but some are also located in apartment districts, or are covered by other pre-existing situations. The operation of short-term rentals in these zoning districts is consistent with current County of Maui zoning ordinances, Community Plans, General Plan, and State law. All short-term rentals are also required to pay State of Hawaii General Excise Tax (GET) and Transient Accommodation Tax (TAT). It is recommended that you inquire with the owner as to whether they are operating in compliance with all current laws.&quot;  Lists of Permitted B&amp;B's, STRH's, TVR's can be found on the county website using the link above.




Disclaimer: Information is taken from the above listed resources on the date of this post, May 15, 2017 and updated in 2018, June 13, 2022, and May 6, 2024.  While every effort has been made to ensure the accuracy of this article, it is not intended to provide legal, zoning &amp; property use, or tax advice as individual situations will differ and should be discussed with your property management company, tax professional and/or attorney.  Zoning and land use questions should be directed to the Maui County Department of Planning. Updates and amendments may be made to the county and state laws and rules and regulations cited above, so all information contained herein should be not be relied upon without independent verification and should be researched at the time of purchase.
 ]]> </description>
    <pubDate>Sat, 22 Feb 2025 14:16:00 -1000</pubDate>
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    <guid>http://www.luxuryrealestatemaui.com/blog/kapalua-real-estate-market-2024-in-review.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kapalua-real-estate-market-2024-in-review.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>KAPALUA REAL ESTATE MARKET: 2024 IN REVIEW</title>
    <description> <![CDATA[ 
KAPALUA REAL ESTATE MARKET: 2024 IN REVIEW


The view from Kapalua Bay Villa 23B3, an oceanfront residence, currently listed for sale


Kapalua Condominiums:  A five year sales history


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


2024


2023


2022


2021


2020


2019




Number of Sales


25


22


62


145


40


61




Volume


$64,408,000


$52,789,000


$145,775,500


$298,816,781


$68,617,500


$124,027,800




Low Sales Price


$990,000


$1,250,000


$940,000


$600,000


$600,000


$595,000




High Sales Price


$12,000,000


$8,200,000


$8,000,000


$13,295,000


$4,200,000


$7,950,000




Median


$1,350,000


$1,725,000


$1,455,000


$1,220,000


$1,162,500


$1,050,000




Average SP


$2,576,320


$2,399,500


$2,351,218


$2,060,805


$1,715,438


$2,033,242




Average SP/Sq. Ft.


$1,461


$1,597


$1,470


$1,154


$1,000


$1,028




Average DOM


136


182


96


177


165


213




Average SP/LP


94


97


99


97


94


96




*Does not include Napili Kai (Puna) Condos, Pailolo Place Condos, Montage Fractionals, or the Ironwoods fractional sale


 






Over the last five years, Maui's real estate market has seen some dramatic swings:  in 2019, the resort market was a seasonal market, with the peak activity occurring in winter/spring, when visitors are here on island.  With travel restrictions in effect from March to October of 2020, there is a dip in activity.  Once travel restrictions were lifted, the Kapalua Resort market saw a striking increase in condominium sales in 2021.  As interest rates rose, and available properties decreased, we saw fewer sales in 2022.  


Sales were slower in the Kapalua Resort in 2023, which is to be expected in the wake of the devastating wildfires in Lahaina town in August.  Of the 22 condo sales that occurred in the resort in 2023, only 3 took place between 8/9 and 12/31. 


In 2024, the resort market is slowly coming back, however, not to 2019 levels.  This may be in part due to many factors: travel is below Pre-Covid numbers statewide, election years tend to be slow in general, rising insurance costs have resulted in increases in monthly association dues, and the Mayor's proposed ban on short term rentals in the apartment districts.  This legislation would affect the Golf, Ridge and Bay Villas if it were to be passed. 


While 61 of the sales in the resort were one bedroom properties that averaged around the $1,100,000 mark, there were some notable exceptions including the sale at the Ridge Villas at $2,795,000 set a new a record high, the sale of a two-bedroom villa at the Bay Villas for $2,950,000 was the second highest in Bay Villa history, and a Montage Kapalua Bay four-bedroom residence closed at $12,000,000.


Key Stats by Community


How does the market in 2024 compare to prior years?


Coconut Grove on Kapalua Bay


View Coconut Grove Kapalua Condos for sale






Coconut Grove


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


2024


2023


2022


2021


2020


2019




Sales


2


0


4


5


4


1




Volume


$8,575,000


0


$16,750,000


$17,020,000


$12,050,000


$2,300,000




Low SP


$3,350,000


NA


$2,300,000


$1,500,000


$1,150,000


$2,300,000




High SP


$5,225,000


NA


$6,250,000


$4,150,000


$4,200,000


$2,300,000




Median SP


$4,287,500


NA


$4,100,000


$4,020,000


$3,350,000


$2,300,000




Average SP


$4,287,500


NA


$4,187,500


$3,404,000


$3,012,500


$2,300,000




Average SP/Sq. Ft


$1,913


NA


$1,729


$1,634


$1,412


$1,065




Average DOM


184


NA


149


320


124


671




Average SP/LP


96


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. 


Similar to Coconut Grove, the Ironwoods is a community of just 40 residences located oceanfront in Kapalua.  Since 2020 37.5 of the residences at the Ironwoods have changed hands. 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.  In 2023, there were no sales at the Ironwoods.  In 2024, there were two sales: one an impeccably renovated ground floor two-bedroom ocean view residence at $3,350,000 and the other an updated three-bedroom oceanfront residence at $5,225,000.


Kapalua Bay Villas


View Kapalua Bay Villas Condos for Sale 






Kapalua Bay Villas


2024


2023


2022


2021


2020


2019




Sales


2


6


10


30


7


14




Volume


$4,450,000


$9,994,000


$17,764,000


$41,089,500


$7,538,000


$15,032,500




Low SP


$1,500,000


$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


$2,225,000


$1,697,500


$1,437,500


$1,237,000


$1,000,000


$1,062,500




Average SP


$2,225,000


$1,665,667


$1,776,400


$1,369,650


$1,076,857


$1,073,750




Average SP/Sq. Ft


$1,710


$1,734


$1,496


$1,104


$876


$872




Average DOM


107


124


68


232


149


287




Average SP/LP


97


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 complex's 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.  The other sale was a one-bedroom ocean-view villa at $1,500,000.


Kapalua Golf Villas 


View Kapalua Golf Villas Condos for Sale






Kapalua Golf Villas


2024


2023


2022


2021


2020


2019




Sales


10


6


21


44


9


9




Volume


$11,642,000


$9,355,000


$27,773,500


$42,071,750


$7,441,500


$14,446,603




Low SP


$990,000


$1,250,000


$940,000


$600,000


$600,000


$595,000




High SP


$1,550,000


$1,850,000


$1,949,000


$1,400,000


$1,200,000


$1,010,000




Median SP


$1,125,000


$1,597,500


$1,215,000


$944,000


$745,000


$785,000




Average SP


$1,164,200


$1,559,167


$1,332,548


$956,176


$826,833


$802,572




Average SP/Sq. Ft


$1,157


$1,380


$1,205


$856


$749


$677




Average DOM


93


143


81


122


124


165




Average SP/LP


95


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.


In 2024, the Golf Villas saw more sales than any other condominium community in Kapalua.  9 of the 10 sales were one bedroom villas that ranged from $990,000 to $1,350,000, with a median of $1,100,000.


Kapalua Ridge Villas


View Kapalua Ridge Villas Condos for sale






Kapalua Ridge Villas


2024


2023


2022


2021


2020


2019




Sales


6


4


11


28


8


6




Volume


$9,501,000


$7,240,000


$15,554,000


$31,301,998


$8,776,500


$4,904,000




Low SP


$1,000,000


$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


$1,122,500


$1,812,500


$1,375,000


$1,097,000


$1,135,000


$780,000




Average SP


$1,583,500


$1,810,000


$1,414,000


$1,117,929


$1,097,063


$817,333




Average SP/Sq. Ft


$1,101


$1,315


$1,179


$813


$701


$653




Average DOM


108


78


65


165


222


263




Average SP/LP


91


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.  4 of the 6 sales were one bedroom villas which ranged from $1,000,000 to $1,125,000 and had a median price of $1,115,500.


Montage Residences Kapalua Bay


View Montage Residences Kapalua Bay Condos for Sale






Montage Kapalua Bay


2024


2023


2022


2021


2020


2019




Sales


4


4


10


27


9


21




Volume


$28,750,000


$21,550,000


$49,605,000


$128,678,533


$28,939,000


$86,445,000




Low SP


$4,200,000


$3,650,000


$3,000,000


$2,695,000


$2,750,000


$2,400,000




High SP


$12,000,000


$8,200,000


$8,000,000


$13,295,000


$4,159,000


$7,950,000




Median SP


$6,275,000


$4,850,000


$4,600,000


$4,145,000


$2,995,000


$3,595,000




Average SP


$7,187,500


$5,387,500


$4,960,500


$4,765,872


$3,215,444


$4,116,429




Average SP/Sq. Ft


$2,349


$2,074


$2,027


$1,742


$1,407


$1,556




Average DOM


197


513


151


152


170


173




Average SP/LP


95


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. 


In 2024 there were four sales at the Montage Residences Kapalua Bay:4201 a 3B/3.5B Hotel Residence at $4,200,002604 a 3B/3.5B Grand Residence at $5,800,0005503 a 3B/3.5B + Den Grand Residence at $6,750,0002201 a 4B/4.5B Grand Residence at $12,000,000 


The four bedroom sale is below the record-high sale of $13,295,000 in 2021.  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.


Ritz-Carlton Kapalua Residences 


View Ritz-Carlton Residences Kapalua Condos for Sale






Ritz-Carlton Residences


2024


2023


2022


2021


2020


2019




Sales


1


2


4


5


3


1




Volume


$1,490,000


$4,645,000


$7,429,000


$9,655,000


$3,872,500


$900,000




Low SP


$1,490,000


$1,550,000


$990,000


$945,000


$735,000


$900,000




High SP


$1,490,000


$3,100,000


$2,800,000


$2,800,000


$2,300,000


$900,000




Median SP


$1,490,000


$2,325,000


$1,820,000


$1,800,000


$837,500


$900,000




Average SP


$1,490,000


$2,325,000


$1,857,250


$1,931,000


$1,290,833


$900,000




Average SP/Sq. Ft


$1,709


$1,932


$1,557


$1,446


$1,065


$1,034




Average DOM


454


255


161


448


216


203




Average SP/LP


90


88


102


97


88


92






In 2024, there was just one sale of a one bedroom residence at the Ritz-Carlton Residences. 


KAPALUA RESORT RESIDENTIAL MARKET UPDATE: Homes and Land Sales in 2024





94 Keoawa is a home for sale in Honolua Ridge listed at $10,800,000.  Photography by Archer Shoots.


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.






Homes


2024


2023


2022


2021


2020


2019




Number of Sales


7


11


14


29


17


18




Volume


$79,738,000


$55,430,000


$74,700,000


$144,197,500


$90,787,000


$47,954,020




Low SP


$3,150,000


$2,975,000


$2,750,000


$2,062,500


$1,600,000


$1,489,020




High SP


$26,450,000


$7,680,000


$7,900,000


$15,000,000


$24,000,000


$6,000,000




Median SP


$6,875,000


$4,400,000


$5,200,000


$4,150,000


$3,500,000


$2,575,000




Average SP


$11,391,143


$5,039,091


$5,335,714


$4,972,327


$5,240,411


$2,664,112




Average SP/Sq. Ft.


$1,986


$1,241


$1,112


$982


$1,063


$715




Average DOM


190


165


193


227


151


270




Average SP/LP


93


93


97


94


91


92






In 2023, there were 11 home sales.  All but two were in Pineapple Hill and Pineapple Hill Estates. In 2024, the market saw four sales in Pineapple Hill &amp; Pineapple Hill Estates, one sale in Plantation Estates at a record $16,000,000, one at Kapalua Place at $17,000,000 and 9 Bay Drive at $26,450,000.


KAPALUA HOME SALES BY COMMUNITY: 2024 and a 5 Year Overview


PINEAPPLE HILL &amp; PINEAPPLE HILL ESTATES


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





Pineapple Hill Homes


2024


2023


2022


2021


2020


2019




Number of Sales


4


9


7


15


10


 15




Volume


$20,288,000


$41,750,000


$35,575,000


$46,012,500


$27,187,000


$35,834,020




Low SP


$3,150,000


$4,150,000


$2,750,000


$2,062,500


$1,600,000


$1,489,020




High SP


$6,875,000


$6,450,000


$7,900,000


$4,850,000


$3,750,000


$3,200,000




Median SP


$5,131,500


$4,300,000


$4,825,000


$2,700,000


$2,625,000


$2,300,000




Average SP


$5,072,000


$4,638,889


$5,082,142


$3,067,500


$2,718,700


$2,388,935




Average SP/Sq. Ft.


$1,449


$1,219


$1,023


$768


$696


 $692




Average DOM


150


154


134


160


137


 262




Average SP/LP


94


94


96


95


95


94






Pineapple Hill remains one of Kapalua's most popular communities.  Comprised of two phases, Pineapple Hill and Pineapple Hill Estates, amenities in this gated community include a pool, tennis &amp; pickleball courts and an owner pavilion.  


Two sales occurred in phase one, Pineapple Hill, and two in the second phase, Pineapple Hill Estates, which was annexed in to Pineapple Hill in 2001.  Sales prices ranged from $3,150,000 for a 2361 sq. ft. three-bedroom residence on the Bay Course to $6,875,000 for a 4598 sq. ft. four-bedroom ocean view residence with an infinity pool.


PLANTATION ESTATES AT KAPALUA HOMES


View Plantation Estates Homes for Sale






Plantation Estates Homes


2024


2023


2022


2021


2020


2019




Number of Sales


1


1


4


6


3


1




Volume


$16,000,000


$7,680,000


$24,225,000


$32,635,000


$13,850,000


$6,000,000




Low SP


$16,000,000


$7,680,000


$5,425,000


$4,025,000


$3,750,000


$6,000,000




High SP


$16,000,000


$7,680,000


$7,500,000


$10,100,000


$5,650,000


$6,000,000




Median SP


$16,000,000


$7,680,000


$5,650,000


$4,490,000


$4,490,000


$6,000,000




Average SP


$16,000,000


$7,680,000


$6,056,250


$5,439,167


$4,616,667


$6,000,000




Average SP/Sq. Ft.


$1,947


$1,266


$920


$933


$1,006


$972




Average DOM


213


42


306


258


70


215




Average SP/LP


90


97


96


93


92


81






 


HONOLUA RIDGE HOMES


View Honolua Ridge Homes for sale






Honolua Ridge Homes


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


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 &amp; OCEANFRONT HOMES






Oceanfront Homes


2024


2023


2022


2021


2020


2019




Number of Sales


2


0


0


3


2


0




Volume


$43,450,000


0


0


$34,800,000


$39,500,000


0




Low SP


$17,000,000


NA


NA


$8,700,000


$15,500,000


NA




High SP


$26,450,000


NA


NA


$15,000,000


$24,000,000


NA




Median SP


$21,725,000


NA


NA


$11,100,000


$19,750,000


NA




Average SP


$21,725,000


NA


NA


$11,600,000


$19,750,000


NA




Average SP/Sq. Ft.


$3,079


NA


NA


$1,809


$3,975


NA




Average DOM


261


NA


NA


489


425


NA




Average SP/LP


93


NA


NA


93


79


NA






There is just one remaining oceanfront lot in Kapalua located at Kapalua Place (between the Bay Villas and the Ironwoods), which sold in 2024 for $8,750,000.  It will likely soon be developed.  With just eight oceanfront parcels that are part of the resort, it's not uncommon to see few sales.  


2024 saw two sales: 9 Bay Drive, which closed at $26,450,000 and 7 Kapalua Place, which closed at $17,000,000.


View Kapalua Place and Kapalua Oceanfront homes for sale


 


KAPALUA LAND SALES BY COMMUNITY: 2024 and a 5 Year Overview






Kapalua Resort Land


2024


2023


2022


2021


2020


2019




Number of Sales


4


4


20


58


8


2




Volume


$13,175,000


$4,970,000


$32,839,500


$65,265,000


$13,925,000


$3,150,000




Low SP


$985,000


$995,000


$845,000


$700,000


$850,000


$1,300,000




High SP


$8,750,000


$1,525,000


$3,700,000


$2,600,000


$8,000,000


$1,850,000




Median SP


$1,720,000


$1,225,000


$1,450,000


$982,500


$837,500


$1,575,000




Average SP


$3,293,750


$1,242,500


$1,641,975


$1,135,259


$1,740,625


$1,575,000




Average SP/Sq. Ft.


$63


$33


$38


$17


$32


$23




Average DOM


56


279


202


178


284


60




Average SP/LP


97


87


96


95


89


100






In 2024, there were just four vacant land sales that were part of the resort:  a lot in Pineapple Hill, two in Mahana Estates and an oceanfront homesite at Kapalua Place that closed at $8,750,000. 


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 &amp; Pineapple Hill Estates Land


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





Pineapple Hill Land


2024


2023


2022


2021


2020


2019




Number of Sales


1


1


5


2


1


0




Volume


$985,000


$995,000


$5,787,000


$2,500,000


$950,000


0




Low SP


$985,000


$995,000


$879,000


$1,195,000


$950,000


NA




High SP


$985,000


$995,000


$1,500,000


$1,305,000


$950,000


NA




Median SP


$985,000


$995,000


$1,090,000


$1,090,000


$950,000


NA




Average SP


$985,000


$995,000


$1,157,400


$1,250,000


$950,000


NA




Average SP/Sq. Ft.


$87


$100


$101


$62


$87


NA




Average DOM


29


333


204


143


314


NA




Average SP/LP


100


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 out.


Plantation Estates Land


View Plantation Estates Land for Sale






Plantation Estates Land


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 Homes


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






Mahana Estates is Kapalua Resort's newest residential offering.  CC&amp;Rs allow for more contemporary design which makes it a popular choice.


Honolua Ridge Land


View Honolua Ridge Land for Sale






Honolua Ridge Land


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.


 


 
 ]]> </description>
    <pubDate>Tue, 11 Feb 2025 17:13:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-statistics-january-2025.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/maui-real-estate-statistics-january-2025.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Maui Real Estate Statistics | January 2025</title>
    <description> <![CDATA[ 
Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. 





The Maui Real Estate Report for the first month of 2025 notes:


U.S. existing-home sales advanced for the third straight month, climbing 2.2 to a seasonally adjusted annual rate of 4.24 million units, a 10-month high, according to the National Association of REALTORS® (NAR). Sales were up 9.3 year-over-year, driven largely by purchases of homes priced $500,000 and above. Month-over-month, sales rose in the South, Northeast, and the West but fell in the Midwest, with all four regions reporting year-over-year gains. 


New Listings decreased 6.4 percent for Single Family homes but increased 8.6 percent for Condominium homes. Pending Sales decreased 34.2 percent for Single Family homes and 29.8 percent for Condominium homes. Inventory increased 61.6 percent for Single Family homes and 108.3 percent for Condominium homes. 


Median Sales Price decreased 11.6 percent to $1,187,500 for Single Family homes and 15.6 percent to $675,000 for Condominium homes. Days on Market increased 3.5 percent for Single Family homes and 81.8 percent for Condominium homes. Months Supply of Inventory increased 78.9 percent for Single Family homes and 164.0 percent for Condominium homes. 


According to NAR, total housing inventory was 1.15 million units heading into January, a 13.5 decrease from the previous month but a 16.2 increase from the same period one year earlier, for a 3.3-month supply at the current sales pace. Housing supply remains down compared to prepandemic levels, and the limited number of homes on the market continues to push sales prices higher nationwide, with the median existing-home price rising 6 year-over-year to $404,400.


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

Active Listings: 367 homes from $489,900 in Keanae to $75,000,000 for Hana Ranch, followed by $33,900,000 for a home for sale in Makena.  Pending: 93 homes from $630,000 for a home in Wailuku to $9,975,000 for a home in Kula.Sold (2025): 60 homes from $500,000 for a home in Hawaiian Homelands in Kula to $6,000,000 for a beachfront home in Kihei.  The median sale price is $1,262,500 and the average is $1,513,718


MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES 


Active Listings:  753 condos listed from $175,000 for a condo in Honokoawai to $16,500,000 for a condominium residence at Wailea PointPending: 87 condos pending, ranging from $299,000 for a condo in Wailuku to $13,900,000 condo at Wailea Point.Sold (2025): 59 condos sold, ranging from $350,000 for a condo at Paki Maui to $4,200,000 for a condo at Papali Wailea


This continued increase in listing inventory and leveling off in pending sales is likely affected to the proposed changes to Maui County's Short Term Rental rules and regulations.  


MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES 


Active Listings: 132 parcels from $325,000 in Kahului to $12,500,000 for an ocean view home site at Maluaka in MakenaPending: 28 lots from $449,000 in Kula to $10,995,000 for a parcel in MakenaSold (2025): 11 parcels which sold anywhere from $20,000 for a driveway lot in West Maui to $10,900,000 for a Kaanapali beachfront lot located on Kai Ala Place.


*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 was written, 2/6/25


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

 


 
 ]]> </description>
    <pubDate>Sat, 08 Feb 2025 10:06:00 -1000</pubDate>
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