Maui Real Estate Market Update: Mid-Year Update

From the Realtor's Association of Maui: "Activity for homes and condominiums in the June Maui real estate market showed positive gains in home prices and a decrease in Pending and Closed sales compared to the same time last year. Inventory increased slightly in June, with current housing inventory showing a 2.7-month supply for Single Family homes, up 17.4% from last year, and current condominium inventory showing a 1.5-month supply, up 25% from last year."  Read the full report

Kapalua Resort, Maui: residential market update

Sold: 320 Cook Pine Drive listed by Courtney M. Brown sold for $3,850,000.

Kapalua Homes for Sale: Active and Pending Listings

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

At the time of this post, there are just three active listings and three pending sales:

The active listings include a home on a double lot in Pineapple Hill that was originally built by musician Carlos Santana,

Live front and center on the Beach at Kapalua Bay:

Spotlight on the Coconut Grove on Kapalua Bay

The Coconut Grove on Kapalua Bay is one of Kapalua's hidden gems.  Situated overlooking Kapalua Bay, this gated enclave of just 36 residences is located next door to the Montage Residences Kapalua Bay, and represents an exceptional value on a price-per-square-foot basis.  At the time of this post, the two oceanfront Montage Condos 2203 and 1203 are for sale at $2927 and $3375/sq. ft. 

The Coconut Grove does not allow short-term rentals, and many residents love the peaceful, less transient feel of the community.  The Plan 1 is a 3B/3B floor plan and the Plans 2, 3 and 4 are 3B/3.5B residences.  The oceanfront Plan 4 floor plans all have an

MAUI VACATION RENTAL (TRANSIENT ACCOMMODATIONS) & SHORT TERM RENTAL FAQs

This is an update to a post I wrote in 2017.  Since writing that post, there have been updates to the county code and new legislative proposals affecting short-term rentals.  Maui, like many places around the US that are popular vacation destinations, has grappled with affordable housing and workforce housing.  In 2022, a moratorium was passed on the approval of new transient accommodations, as well as the implementation of a new long-term rental tax category to incentivize owners to tenants for 12 months or longer to create more housing.   

When purchasing a property on Maui, it's important to understand the possible uses of the property with regard to how it can be rented

Maui Property Taxes Fiscal Year 2023 (July 1 2022- June 30, 2023)
Changes: Classifications & Rates

Each year, Maui County does two things: assesses the value of the property AND sets new rates for the upcoming fiscal year, which runs from July 1st-June 30th.  Below is a snapshot of the new Maui County Property Tax Rates for 2022-2023 as well as a summary of how they've changed over the years.

How do you calculate your property taxes given the new tiered system?

Fidelity National Title put together this helpful video when the new tiered system was introduced in 2020.  Note the tier amounts have changed in 2022 from prior years.

Maui County Property Tax Rates 2022-2023 vs Prior Years

Rates are per $1000 of assessed value.  In 2020, the County

Take a journey back in time to a simpler life…one of peace and serenity surrounded by the natural beauty of Upcountry Maui. 

This beautifully restored ranch estate was built in 1918 and is set on 60 timbered acres.  The original owners positioned the home at the edge of the ranch lands, which still surround it. The location provides for a private, serene setting and a vantage point with sweeping views across central Maui to Mauna Kahālāwai and of the waves breaking along the North Shore.

The current owners have spent several years lovingly restoring the home.  Some of these touches may not be readily apparent but took years to accomplish: each pane of glass was preserved, cleaned and replaced within refurbished window frames and hardware to

Escape to Kaanapali: Honua Kai Konea 337

The Honua Kai is one of Kaanapali's most popular vacation destinations.  Located at the North end of Kaanapali, this vibrant resort offers an array of amenities, including an aquatic park with several pools, a fitness center, the Ho'ola Spa where you can enjoy massages and spa treatments, the charming Aina Gourmet market which is a cafe, market and deli, and the much loved Duke's Restaurant.

The long white sand beach has an extensive beach path.  The beach is the perfect setting for sunbathers, snorkelers and to enjoy Maui's spectacular sunsets, which are framed by the neighboring islands of Molokai and Lanai.

Nearby are the shops and restaurants of Honokowai and Kaanapali, as well as a collection of

Market Spotlight: Honua Kai May, 2022

The Honua Kai is Kaanapali's newest condominium development and one of the most desirable vacation destinations in West Maui.  Built in three phases along Kekaa Beach on the North Side of Black Rock, the Honua Kai is comprised of three separate sections: Hokulani (2008), Konea (2009) and Luana Gardens (2018).   

The Hokulani and Konea towers feature 627 studio, one, two and three-bedroom condominium residences.  The 10 story buildings have central air conditioning, elevators and underground parking.  The new addition of Luana Gardens weaves in a more contemporary residential component, with 72 three-bedroom residences.  These low rise, two-story buildings feature private garages in three clusters, each

Masters at Kaanapali Hillside 501

Masters 501 is one of six unique one bedroom townhouse floor plans with a loft.  It sits in a private location on the property, and features an expansive lawn off the lanai and around the side, surrounded by lush landscaping.

About the Masters at Kaanapali Hillside:

The Masters at Kaanapali Hillside is a lovely, gated community surrounding the Royal Kaanapali golf course.  This low-density, residentially zoned community features low-rise, two-story buildings.  There are just 200 units in 35 buildings, situated on approximately 37.9 acres.  There are two separate pools, both with hot tubs, as well as two tennis court areas.

The Masters has several floor plans which range from one to three bedrooms (plans A,

KAPALUA MARKET UPDATE: Q1 2022

Kapalua Condominiums

Kapalua is home to several different condominium communities, with offerings ranging from one to four-bedroom condominiums.  The Kapalua Bay Villas, Kapalua Ironwoods, The Coconut Grove on Kapalua Bay, the Montage Residences Kapalua Bay and the Ritz-Carlton Kapalua Residences are all oceanfront properties nestled along the Kapalua Resort's spectacular shoreline.  The Kapalua Ridge Villas and Kapalua Golf Villas both are located on the Kapalua Bay Course with ocean and golf course views.

Key Figures for Kapalua Condo Sales in 2021 by Complex