Introducing 322 Cook Pine: Home Site in Pineapple Hill, Kapalua
Posted
by Courtney M. Brown
on Tuesday, September 6th, 2022 at 1:25pm.
Introducing 322 Cook Pine, one of the last remaining undeveloped lots in Pineapple Hill
An aerial overlooking 322 Cook Pine Drive, Pineapple Hill, Kapalua
The views are focused toward the channel between Molokai and Lanai, framing Maui's spectacular sunsets
This is a rare offering of one of the last undeveloped home sites in Pineapple Hill phase I. The Design Guidelines for Pineapple Hill require the owner utilize one of six approved floor plans for the lots, which may be modified. However, it should be noted that the foot print must be maintained and any changes must be approved by the Architectural and Design Review Committee.
Pineapple Hill is one of Kapalua's most popular residential communities. A gated enclave developed in two sections, Pineapple Hill (phase I) Pineapple Hill Estates (phase II). The first phase of Pineapple Hill are smaller homesites (typically around a quarter of an acre), whereas the homes in Pineapple HIll Estates are on larger lots (approximately a half acre).
Loved for its location in the heart of the Kapalua Resort, Pineapple Hill is close to restaurants, beaches, and golf, as well as the restaurants and offerings at the Ritz-Carlton, Kapalua and Montage Kapalua Bay hotels. Amenities include tennis and pickleball courts, a pool, an owner’s pavilion, full-time resident manager, and roving resort security.
When the two phases are combined, there are 130 homesites, however, several owners in the first phase of Pineapple Hill built homes on double lots, and one, which sold in 2021, was built on three lots. There are only five lots in phase I and only three lots in phase II that have not yet been developed.
The Market at Pineapple Hill
At the time of this post, there are just three homes listed for sale in Pineapple Hill and Pineapple Hill Estates, with asking prices ranging from $4,995,000 to $6,495,000.
Year to date we have had half the sales of 2021 at the beginning of the third quarter, however, the average sales price is significantly higher. This is due, in part, to the closing of two custom homes that were built on double lots in Phase I. 314 Cook Pine and 1216 Summer, each closed at $7,900,000, thus raising the average sales price significantly.
In vacant land, there are three lots listed for sale, two are located in phase I another in Pineapple Hill Estates. Year to date, five lots have sold and all are located in phase I, with lot sizes ranging from .23 to .36 acres. 624 Silversword, a fantastic view lot in phase I, closed at a record high $1,500,000. This is compared with two lots selling in 2021, which were both larger home sites (.45-.48 acres) located in Pineapple Hill Estates (phase II), which commanded higher prices, so the average sales price was higher last year.
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