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        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/kaanapali-alii/</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>
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        <title>KAANAPALI CONDOMINIUM MARKET UPDATE: 2024 IN REVIEW</title>
    <description> <![CDATA[ 
 


KAANAPALI CONDOMINIUM MARKET UPDATE: 2024 IN Review





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.











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








 



 


International Colony Club


International Colony Club condos for sale












 


Kaanapali Alii


Kaanapali Alii condos for sale












 


Kaanapali Plantation


Kaanapali Plantation condos for sale





 





 





 



 


Kaanapali Royal


Kaanapali Royal condos for sale





 


 


 



 


Kaanapali Shores


Kaanapali Shores condos for sale





 






 


The Mahana at Kaanapali


The Mahana at Kaanapali condos for sale





 






 


The Masters at Kaanapali Hillside


The Masters at Kaanapali Hillside condos for sale





 






 


Maui Eldorado


Maui Eldorado condos for sale





 


 






 


Maui Kaanapali Villas


Maui Kaanapali Villas condos for sale





 







 


Maui Kai


Maui Kai condos for sale





 









 


The Vintage at Kaanapali


The Vintage condos for sale





 






 


The Whaler at Kaanapali Beach


The Whaler at Kaanapali Beach condos for sale





 






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 3/8/25.  
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        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kaanapali Resort Condominium Market Update | Q 1 2024</title>
    <description> <![CDATA[ 
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.  
 ]]> </description>
    <pubDate>Fri, 05 Apr 2024 15:32:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/kaanapali-resort-condominium-market-update-q2-2023.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kaanapali-resort-condominium-market-update-q2-2023.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kaanapali Resort Condominium Market Update: Q2 | 2023 </title>
    <description> <![CDATA[ 
KAANAPALI CONDOMINIUM MARKET UPDATE: Q2 2023 





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


Q2 2023


2022


2021


2020


2019


2018




Number of Sales


39


148


237


159


168


173




Volume


$66,617,900


$247,257,475


$321,700,298


$212,877,531


$205,331,916


$191,084,387




Low Sales Price


$600,000


$325,000


$318,000


$319,000


$240,000


$159,000




High Sales Price


$5,525,000


$5,899,000


$5,400,000


$3,300,000


$4,995,000


$5,725,000




Median


$1,500,000


$1,412,500


$995,000


$1,050,000


$952,500


$801,000




Average SP


$1,708,151


$1,670,659


$1,357,385


$1,338,852


$1,222,214


$1,104,534




Average SP/Sq. Ft.


$1,597


$1,486


$1,158


$955


$1,010


$955




Average DOM


111


90


127


248


218


170




Average SP/LP


97


98


98


96


97


96




There are a mix of leasehold and fee simple condominiums in Kaanapali


 


 


 











How does the market through the second quarter of 2023 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


Q2 2023


2022


2021


2020


2019


2018




Sales


11


45


63


72


57


40




Volume


$24,458,000


$112,632,875


$121,182,648


$137,972,250


$91,809,500


$64,235,287




Low SP


$1,220,000


$1,150,000


$807,500


$735,000


$774,000


$695,000




High SP


$5,525,000


$5,899,000


$5,400,000


$3,199,000


$3,300,000


$5,725,000




Median SP


$1,975,000


$1,900,000


$1,550,000


$2,119,750


$1,700,000


$1,120,000




Average SP


$2,223,455


$2,502,953


$1,923,534


$1,916,281


$1,610,693


$1,605,882




Average SP/Sq. Ft


$2,184


$2,154


$1,498


$1,139


$1,190


$1,357




Average DOM


119


97


137


404


318


117




Average SP/LP


97


98


98


98


98


98











International Colony Club


International Colony Club condos for sale


 






International Colony Club


Q2 2023


2022


2021


2020


2019


2018




Sales


0


0


5


1


1


9




Volume


0


0


$3,150,000


$575,000


$618,000


$4,749,500




Low SP


NA


NA


$600,000


$575,000


$618,000


$388,500




High SP


NA


NA


$680,000


$575,000


$618,000


$640,000




Median SP


NA


NA


$620,000


$575,000


$618,000


$501,000




Average SP


NA


NA


$630,000


$575,000


$618,000


$527,722




Average SP/Sq. Ft


NA


NA


$556


$614


$445


$495




Average DOM


NA


NA


143


127


237


268




Average SP/LP


NA


NA


100


96


98


93






 







Kaanapali Alii


Kaanapali Alii condos for sale






Kaanapali Alii


Q2 2023


2022


2021


2020


2019


2018




Sales


3


12


27


9


16


15




Volume


$8,450,000.00


$31,841,600


$66,456,000


$18,215,000


$39,230,000


$39,762,000




Low SP


$2,350,000.00


$1,020,000*


$918,000*


$1,200,000


$1,100,000


$1,200,000




High SP


$3,650,000.00


$4,596,600


$5,000,000


$3,300,000


$4,995,000


$4,800,000




Median SP


$2,700,000.00


$2,387,500


$2,300,000


$1,700,000


$2,147,500


$2,525,000




Average SP


$2,816,667.00


$2,653,467


$2,461,333


$2,023,889


$2,451,875


$2,650,000




Average SP/Sq. Ft


$1,832.00


$1,739


$1,595


$1,248


$1,560


$1,655




Average DOM


57


97


125


129


213


202




Average SP/LP


98.00


96


97


92


95


94






 







Kaanapali Plantation


Kaanapali Plantation condos for sale






Kaanapali Plantation


Q2 2023


2022


2021


2020


2019


2018




Sales


1


9


11


4


3


5




Volume


$1,375,000.00


$11,244,000


$8,570,250


$3,190,000


$2,039,000


$3,455,000




Low SP


$1,375,000.00


$860,000


$448,000


$755,000


$629,000


$625,000




High SP


$1,375,000.00


$1,500,000


$1,200,000


$870,000


$780,000


$765,000




Median SP


$1,375,000.00


$1,325,000


$731,250


$782,500


$630,000


$675,000




Average SP


$1,375,000.00


$1,249,333


$779,114


$797,500


$679,667


$691,000




Average SP/Sq. Ft


$1,194.00


$979


$595


$558


$544


$573




Average DOM


77


60


129


127


$282


66




Average SP/LP


92


97


98


95


97


99






 







Kaanapali Royal


Kaanapali Royal condos for sale






Kaanapali Royal


Q2 2023


2022


2021


2020


2019


2018




Sales


1


2


3


6


9


7




Volume


$1,750,000


$2,455,000


$2,792,000


$4,372,500


$6,997,750


$5,462,200




Low SP


$1,750,000


$1,160,000


$820,000


$350,000*


$705,000


$710,000




High SP


$1,750,000


$1,295,000


$1,100,000


$850,000


$864,750


$875,000




Median SP


$1,750,000


$1,227,500


$872,000


$795,000


$765,000


$785,000




Average SP


$1,750,000


$1,227,500


$930,667


$728,750


$777,528


$780,314




Average SP/Sq. Ft


$1,010


$805


$571


$478


$504


$511




Average DOM


70


35


99


99


101


122




Average SP/LP


89


108


103


97


97


99




* Leasehold sales in 2017 and 2020


 


 


 


 


 






 







Kaanapali Shores


Kaanapali Shores condos for sale


 






Kaanapali Shores


Q2 2023


2022


2021


2020


2019


2018


2017




Sales


9


29


33


15


15


33


24




Volume


$10,049,900


$26,657,500


$25,358,000


$9,727,381


$9,938,167


$18,452,900


$13,891,140




Low SP


$650,000*


$325,000*


$318,000*


$320,000*


$365,000


$159,000*


$200,000*




High SP


$2,500,000


$2,360,000


$2,125,000


$950,000


$997,000


$1,780,000


$1,554,840




Median SP


$950,000


$810,000


$700,000


$645,000


$557,500


$553,000


$520,000




Average SP


$1,116,656


$919,224


$768,424


$635,159


$621,135


$559,179


$578,798




Average SP/Sq. Ft


$1,252


$1,098


$931


$781


$830


$702


$708




Average DOM


126


91


145


142


117


165


167




Average SP/LP


97


98


98


95


97


96


96




*There were leasehold sales every year.  Low is marked with the asterisk


 


 


 


 






 







The Mahana at Kaanapali


The Mahana at Kaanapali condos for sale






Mahana


Q2 2023


2022


2021


2020


2019


2018




Sales


6


21


12


5


9


11




Volume


$9,357,500.00


$26,241,500


$14,372,400


$4,858,000


$8,302,000


$8,782,000




Low SP


$1,175,000.00


$772,500


$725,000


$640,000


$625,000


$550,000




High SP


$3,005,000.00


$2,300,000


$1,725,000


$1,650,000


$1,850,000


$990,000




Median SP


$1,248,750.00


$1,160,000


$1,197,500


$880,000


$825,000


$825,000




Average SP


$1,559,583.00


$1,249,595


$1,197,708


$971,600


$922,444


$798,364




Average SP/Sq. Ft


$1,682.00


$1,591


$1,330


$1,314


$1,174


$1,135




Average DOM


130


78


253


161


140


77




Average SP/LP


98


97


97


96


98


97






 







Maui Eldorado


Maui Eldorado condos for sale






Maui Eldorado


Q2 2023


2022


2021


2020


2019


2018




Sales


2


10


12


10


12


9




Volume


$1,850,000.00


$7,011,000


$6,803,500


$4,302,500


$4,766,000


$3,044,012




Low SP


$600,000.00


$415,000


$345,000


$240,000


$240,000


$210,000




High SP


$1,250,000.00


$1,137,500


$965,000


$835,000


$835,000


$610,000




Median SP


$925,000.00


$616,250


$460,750


$403,750


$332,500


$327,901




Average SP


$925,000.00


$701,100


$566,958


$430,250


$397,167


$316,111




Average SP/Sq. Ft


$746.53


$657


$559


$458


$458


$287




Average DOM


59.5


64


131


79


79


251




Average SP/LP


97.00


101


98


96


96


91






 







Maui Kaanapali Villas


Maui Kaanapali Villas condos for sale


 






Maui Kaanapali Villas


Q2 2023


2022


2021


2020


2019


2018




Sales


0


6


15


10


5


12




Volume


0


$4,615,000


$9,598,900


$5,884,400


$3,695,000


$6,382,500




Low SP


NA


$400,000


$345,000


$432,500


$430,000


$285,000




High SP


NA


$1,100,000


$915,000


$799,000


$1,050,000


$1,797,000




Median SP


NA


$767,500


$625,000


$487,450


$760,000


$417,500




Average SP


NA


$769,167


$639,927


$588,440


$739,000


$531,875




Average SP/Sq. Ft


NA


$1,154


$985


$889


$932


$747




Average DOM


NA


111


64


54


49


278




Average SP/LP


NA


99


98


98


100


97






 







Maui Kai


Maui Kai condos for sale







The Masters at Kaanapali Hillside


The Masters at Kaanapali Hillside condos for sale


 






Masters


Q2 2023


2022


2021


2020


2019


2018




Sales


5


17


31


15


18


16




Volume


$8,190,000.00


$25,371,000


$34,802,000


$13,586,500


$15,498,500


$17,310,000




Low SP


$1,400,000.00


$900,000


$675,000


$575,000


$550,000


$540,000




High SP


$1,990,000.00


$2,175,000


$1,929,000


$1,300,000


$1,400,000


$1,500,000




Median SP


$1,500,000.00


$1,565,000


$1,107,000


$945,000


$852,000


$1,127,500




Average SP


$1,638,000.00


$1,492,412


$1,122,645


$905,766


$861,028


$1,081,875




Average SP/Sq. Ft


$1,074.00


$989


$796


$639


$660


$690




Average DOM


190


62


133


97


225


164




Average SP/LP


92.00


100


98


95


95


93






 







The Vintage at Kaanapali


The Vintage condos for sale


 






Vintage


Q2 2023


2022


2021


2020


2019


2018




Sales


1


3


7


4


6


6




Volume


$1,800,000


$5,190,000


$9,734,000


$4,573,000


$6,840,999


$6,445,000




Low SP


$1,800,000


$1,200,000


$1,100,000


$950,000


$890,999


$801,000




High SP


$1,800,000


$1,995,000


$1,620,000


$1,375,000


$1,425,000


$1,400,000




Median SP


$1,800,000


$1,995,000


$1,360,000


$1,124,000


$1,125,000


$1,120,000




Average SP


$1,800,000


$1,730,000


$1,390,571


$1,143,250


$1,140,167


$1,074,167




Average SP/Sq. Ft


$890


$797


$693


$621


$610


$546




Average DOM


191


203


87


148


237


141




Average SP/LP


92


97


99


96


94


95






 







The Whaler at Kaanapali Beach


The Whaler at Kaanapali Beach condos for sale






Whaler


Q2 2023


2022


2021*


2020


2019


2018




Sales


2


8


24


7


16


17




Volume


$2,485,000


$14,931,500


$29,712,000


$7,480,000


$19,000,000


$19,765,000




Low SP


$1,085,000


$1,080,000


$500,000


$795,000


$750,000


$620,000




High SP


$1,400,000


$3,970,000


$3,650,000


$1,250,000


$2,750,000


$2,150,000




Median SP


$1,242,500


$1,575,000


$945,500


$1,100,000


$945,000


$1,100,000




Average SP


$1,242,500


$1,866,438


$1,238,000


$1,068,571


$1,187,500


$1,162,647




Average SP/Sq. Ft


$2,292


$1,959


$1,524


$1,266


$1,380


$1,318




Average DOM


$36


85


116


150


173


165




Average SP/LP


108


98


98


91


95


94




*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 7/28/23.  The MLS data charts were changed from a rolling 12 months to a rolling 6 months of data.
 ]]> </description>
    <pubDate>Thu, 27 Jul 2023 12:48:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/kaanapali-condominium-market-update-through-q1-2023.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kaanapali-condominium-market-update-through-q1-2023.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kaanapali Condominium Market Update through Q1 2023</title>
    <description> <![CDATA[ 
KAANAPALI CONDOMINIUM MARKET UPDATE: Q1 2023 





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.


 


How does the market through the first quarter of 2023 stack up for each community as compared with prior years?


A FIVE-YEAR OVERVIEW


Honua Kai: condos for sale All Buildings





International Colony Club condos for sale





Kaanapali Alii condos for sale





Kaanapali Plantation condos for sale





Kaanapali Royal condos for sale





Kaanapali Shores condos for sale





The Mahana at Kaanapali condos for sale





Maui Eldorado condos for sale





Maui Kaanapali Villas condos for sale





Maui Kai condos for sale


 


The Masters at Kaanapali Hillside condos for sale


 


The Vintage condos for sale





The Whaler at Kaanapali Beach condos for sale





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.
 ]]> </description>
    <pubDate>Fri, 09 Jun 2023 13:01:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/kaanapali-resort-condominium-market-update-q3-2022.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kaanapali-resort-condominium-market-update-q3-2022.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kaanapali Resort Condominium Market Update | Q3, 2022</title>
    <description> <![CDATA[ 
KAANAPALI CONDOMINIUM MARKET UPDATE: Q3 2022 


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.


 


How does the market through the end of the third quarter of 2022 stack up for each community?


A FIVE-YEAR OVERVIEW


Honua Kai: All Buildings





International Colony Club





Kaanapali Alii





Kaanapali Plantation





Kaanapali Royal





Kaanapali Shores





The Mahana at Kaanapali





Maui Eldorado





Maui Kaanapali Villas





Maui Kai


 


The Masters at Kaanapali Hillside


 


The Vintage





The Whaler at Kaanapali Beach





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.
 ]]> </description>
    <pubDate>Tue, 11 Oct 2022 17:47:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/leasehold-vs-fee-simple-ownership-faqs.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/leasehold-vs-fee-simple-ownership-faqs.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Leasehold vs. Fee Simple Ownership: FAQs</title>
    <description> <![CDATA[ 
Frequently Asked Questions: What is the difference between Leasehold and Fee Simple Ownership in Hawaii





Alaeloa: a rare gem, oceanfront and ocean view cottages in Napili, Maui


Why is there leasehold property? The History of Leasehold Property in West Maui:


With the development of the Kaanapali Resort in 1961 and later the Kapalua Resort in 1978, Maui became a vacation destination. As tourism flourished and became the mainstay of our economy, local landowners partnered with developers to build Leasehold condominiums on family-owned properties or on former agricultural land.  In West Maui, many local landowners saw this as a way to retain ownership of their land and derive income from the lease rents.  Leases were typically set for 99 years, with renegotiations after a set period of time, and then every 10 years until expiration.


In Kapalua, the Ironwoods, Golf Villas, Bay Villas and Ridge Villas all started as leasehold properties and converted to Fee Simple ownership.  In Kaanapali, the Kaanapali Alii, Whaler, and Kaanapali Royal started as Leasehold and the fee was offered for sale, though not everyone elected to purchase it at the time of the offering--at these condominium properties, you'll find both Fee Simple and Leasehold condominiums for sale.  The Maui Eldorado remains Leasehold.  Napili also has its share of leasehold development, though, like Kapalua, most all have converted to fee simple.  Currently, at Napili Point Phase I condominiums are Leasehold and Phase II condominiums are Fee Simple.


What does Leasehold and Fee Simple Ownership mean?


Hawaii is one of a handful of states in America that has both Fee Simple and Leasehold ownership.  Our MLS notes whether a property is being offered in Fee Simple (FS), Leasehold (LH), or Leasehold-FA (Fee Simple interest available for separate purchase).


Fee simple ownership, which is what is typically offered in the mainland US, is ownership of the land and all improvements. In the case of a condominium property, Fee Simple ownership is the ownership of the condominium unit and ownership of a percentage interest of the common elements and limited common elements.


A Leasehold interest is outlined in a Master Lease which outlines the length and terms of the lease between the land owner (the Lessor) and the buyer of the property (Lessee), who acquires an interest in the property with the right to occupy and use the leased property for a specified period of time.  The Lessee does not own the land, and pays rent for the land per the terms of the master lease.


At the end of the lease, there is typically a surrender clause, whereby ownership of any improvements on the land revert back to the Lessor. Prior to the expiration of the master lease, it is possible, but not guaranteed, that a Lessor and Lessee may renegotiate and extend the lease agreement.  If the Lessor chooses to sell the Fee Simple interest, the Leasehold owner (or Association of Apartment Owners) is offered the first opportunity to buy it.


What are common definitions* owning a leasehold property?


When purchasing a leasehold property, a Leasehold Disclosure is required which provides the buyer the opportunity to review and approve the Leasehold Documents, including the Master Lease and any amendments.  Definitions follow:




Leasehold Property: A Property held under the terms of a Lease agreement. The holder of a Leasehold Interest, Lessee, usually pays the owner of the Leased Fee Interest, Lessor, a stated amount of Lease rent over a specified Lease term in consideration for the right to use and occupy the Property.


Lease: The written agreement between a Fee Simple owner, Lessor, giving possession of the land or another person, Lessee, for a definite period of time in return for the payment of rent.


Lease Term: length of the lease.


Fixed Period: leases rents are set for a period of time.


Renegotiation Dates: the date on which the terms of the Lease are renegotiated and changed. In most Leases the Lease rent is not

fixed for the full term of the Lease; instead, at certain fixed times stated in the Lease, called Renegotiation Date(s), Lessor and Lessee agree on a new Lease rent. The Lease may contain a formula for setting the new Lease rent and any increases.




Expiration Date: date on which the Lease ends and Lessee is obligated to return the land to Lessor unless there are other stipulations in the Lease. There is no obligation for Lessor to negotiate a new Lease with Lessee after the Expiration of the Lease.


Surrender Clause: Provision(s) in the Lease which mandate(s) that AT THE END OF THE LEASE, the Lessee has to surrender the

Property and the land back to the Lessor. Some provisions in the Surrender Clause include the stipulation as to who receives any


improvements and what conditions apply. The conditions spelled out in the Surrender Clause of the Lease, provide if the Lessor keeps the improvements or if Lessee is obligated to remove the improvements or face Lessor’s costs for doing so, or if Lessee has the right to remove the improvements in a certain timely manner. Hawaii law may limit or even change Lessor’s rights under the Lease.






Leasehold Example: Alaeloa


Alaeloa is a highly desirable condominium community located in Napili.  The Alaeloa Leasehold estate was created in 1965 and originally was set to expire in 2024, with ground lease rents determined every ten years by the appraised value of the property as if it were unencumbered and there were no improvements.  The ground rents are determined by the agreed upon appraised value times a specified interest rate or the then prevailing rate of similar properties that are similarly located.   


In 2010, the AOAO and the Fee Owners reached an agreement, whereby the lease was extended to December 31, 2059.  Yearly lease rents were established through 2019 and renegotiations in 2020, 2025, 2035, and 2045.


Considerations when evaluating Leasehold vs. Fee Simple ownership


There are both pros and cons involved in Leasehold ownership. 




A Leasehold property may be more affordable than a Fee Simple Property of a similar size/location.  It may also allow you to own in a very unique location (like Alaeloa).


When there is less than 35 years left on the lease, most lenders will not approve a 30 year conventional mortgage, meaning that buyers may need to either pay cash or finance with a 15 year mortgage). 


With 30 years or less remaining on the lease, the property will not qualify for a 1031 tax-deferred exchange.


Lease rents renegotiate, so an owner of a leasehold property does need to be aware that their monthly lease rents could increase with each renegotiation.


Lease rents are separate from condominium maintenance fees, which typically cover maintenance of the common element and the reserve funds for repairs to the common element.


Property taxes are the responsibility of the Lessee


The Lessor is under no obligation to renegotiate or extend the lease or sell the Fee Simple Interest.




Who should I consult regarding the implications of owning a leasehold property?


This article is an overview of some of the differences between types of ownership and not intended as legal or tax advice. When purchasing either a leasehold or fee simple property, it is advised to consult with your CPA, Financial Advisors, and Legal Professionals to determine what implications there are for you personally.


Resources




Guide to Hawaii's Residential Leasehold Condominiums, Cooperative Housing Corporations, and Planned Urban Developments


*Definitions taken from the Hawaii Association of Realtor's Standard Forms, Residential Leasehold Disclosure


 ]]> </description>
    <pubDate>Thu, 18 Jan 2018 13:34:00 -1000</pubDate>
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<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/kaanapali-alii-introducing-4-1002.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kaanapali-alii-introducing-4-1002.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kaanapali Alii: Introducing 4-1002</title>
    <description> <![CDATA[ 
The Kaanapali Alii: New Listing and Market Update





The Kaanapali Alii has long been one of Kaanapali's most sought after spots: these spacious condominium residences are situated on the beach in the heart of Kaanapali, close to shops and dining at Whaler's Village and golf at Kaanapali, along with onsite amenities including tennis, a beachfront BBQ pavilion, fitness center, spa and new pool gardens.


Kaanapali Alii 4-1002





Kaanapali Alii 4-1002 Lanai


This one bedroom two bath floor plan features a den, which is utilized as a second sleeping area.  Located on the 10th floor overlooking the tropically landscaped courtyard, 4-1002 is perfectly situated to take advantage of incredible beach and outer island views.  


Kaanapali Alii 4-1002 Interior Views


The lanai, living room, dining room and master bedroom all feature spectacular ocean views.  Renovated in 2012, the kitchen and bathrooms have all been updated, lending a modern feel with an island inspired decor.


Last year, the Alii underwent significant improvements to their plumbing systems and in recent years upgraded the pool and fitness center creating a resort experience on par with neighboring hotels.


This residence is currently in the busy onsite Classic Resorts rental program, which manages rentals for owners who would like to rent when not in residence.


The Kaanapali Alii Market


At the time of this post, the following is a market update including an overview of the current listing market, pending sales and recent Kaanapali Alii sales.  Current Kaanapali Alii Condos for Sale follow at the end of this post or click to view Recent Kaanapali Alii Sales History. For a more up to date market summary, please contact Courtney.


Kaanapali Alii Active ListingsListings:18List Price Range: $1,400,000 to $5,200,000 fee simpleAverage LP: $2,602,708Average LP $/Sq. Ft: $1684/Sq. Ft.Kaanapali Alii Pending SalesListings: 2Kaanapali Alii Sales Since 2016: Listings: 11Sales Price Range: $1,050,000 to $4,600,000 fee simple and leaseholdAverage SP: $1,982,181Average LP $/Sq. Ft: $1313 Sq. Ft.Average DOM: 109Average SP/LP: 92


Note: as one of the sales was leasehold, this would normally occur at a price lower than a fee simple property, which would thereby affect the average Sales Price and Price/Sq. Ft.


 


 


 
 ]]> </description>
    <pubDate>Fri, 09 Dec 2016 12:43:00 -1000</pubDate>
</item>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/market-spotlight-the-kaanapali-alii.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/market-spotlight-the-kaanapali-alii.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Market Spotlight: The Kaanapali Alii</title>
    <description> <![CDATA[ 
The Kaanapali Alii is one of West Maui's most popular resort condominium destinations.







Kaanapali Alii 3802 | Stunning renovated ocean view condominium for sale


We are pleased to represent Kaanapali Alii 3802.  Located overlooking the newly renovated courtyard of the Kaanapali Alii, 3802 enjoys a spectacular ocean view, as well as views of the beach and the tropical landscape below.  Imagine stepping into a beautifully renovated ocean view condominium residence in the heart of Kaanapali.


This popular condominium property is situated along Kaanapali Beach, just south of the shops and restaurants at Whaler's Village.  A popular vacation destination, many owners rent their condominiums when not in residence.  


KAANAPALI ALII | THE MARKET


The Kaanapali Alii is comprised of four 11-story buildings, with a mix of one and two bedroom floor plans.  


Closed for the latter part of 2015 for renovations to the grounds and plumbing, the Kaanapali Alii has reopened and we are starting to see renewed sales activity.


At the time of this listing, there are 16 active listings at the Kaanapali Alii.  Pricing ranges from $1,100,000 to $5,000,000 for an oceanfront two bedroom.  


There is one unit pending sale, a 1 Bedroom + Den, listed at $2,275,000.


In 2015, there were a total of 7 sales recorded in the MLS at an average sales price of $1,781,428 and $1,213/sq. ft. .  The low was $1,375,000 and the high was $2,150,000.  Click to View recent Kaanapali Alii sales or active listings below.  



 ]]> </description>
    <pubDate>Mon, 18 Jan 2016 16:28:00 -1000</pubDate>
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