*Does not include Napili Kai (Puna) Condos, Pailolo Place Condos, Montage Fractionals, or the Ironwoods fractional sale
Sales have been slower in the Kapalua Resort in the latter half of the year. There have been few sales to record since the fire in Lahaina in August of 2023. The resort is largely a second home market and market activity tends to be greatest in the peak seasons of winter/spring.
Key Stats by Community
How does the market through the middle of 2023 stack up for each community when compared with prior years?
At the time of this post, there are no listings and no pending sales at Coconut Grove. 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 is that all sales in 2022 were oceanfront, while in 2021 there was a second-row sale. Note: in 2021 and 2022 combined there were 8 sales, which represents 22% of the inventory to change to new ownership.
*Note Ironwoods 102 was purchased by Pacaso and has been sold off in 1/4 interests. Those fractional interest sales are not accounted for in the above figures, but are reflected in the graph below. Since 2020 about 30% of the residences at the Ironwoods changed hands.
At the time of this post, there are no listings. Similar to Coconut Grove, the Ironwoods is a community of just 40 residences located oceanfront in Kapalua. There have been no pending sales or sales YTD in 2023. 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.
At the time of this post, there are two active listings and two pending sales, with five sales YTD.
Status
Building Name
Unit
List Price
Sold Price
Close Date
Beds
Baths
Liv-SF
DOM
Price Per SQFT
MLS #
ACT
Kapalua Bay Villas II
12G4
$1,625,000
1
1
1,006
3
$1,615
400201
ACT
Kapalua Bay Villas I
17G1,2,3
$2,595,000
2
3
1,529
49
$1,697
399855
PNDS
Kapalua Bay Villas I
35G-2
$1,795,000
1
1
1,006
23
$1,784
400044
PNDNS
Kapalua Bay Villas II
30-G2
$2,000,000
1
1
1,006
14
$1,988
400120
SLD
Kapalua Bay Villas II
17B3
$1,695,000
$1,695,000
3/15/23
1
2
995
58
$1,704
397877
SLD
Kapalua Bay Villas I
37G-1
$1,399,000
$1,399,000
4/11/23
1
2
1,119
263
$1,250
396509
SLD
Kapalua Bay Villas II
35B2
$1,950,000
$1,900,000
4/14/23
1
2
1,087
60
$1,748
398133
SLD
Kapalua Bay Villas II
17G4
$1,500,000
$1,500,000
6/2/23
1
1
1,006
253
$1,491
396995
SLD
Kapalua Bay Villas II
32B3
$1,750,000
$1,700,000
8/28/23
1
1.5
995
62
$1,709
399242
In 2022, the Bay Villas also saw a record-high sale of an oceanfront villa. This also served to increase the average sales price. That said, the number of sales was much closer to 2020 figures.
At the time of this post, there are two active listings. There have been four sales YTD.
Status
Building Name
Unit
List Price
Sold Price
Close Date
Beds
Baths
Liv-SF
DOM
$/SQFT
ACT
Kapalua Ridge
915
$1,495,000
1
2
1,162
65
$1,287
ACT
Kapalua Ridge
1114
$1,600,000
1
2
1,125
11
$1,422
SLD
Kapalua Ridge
1223-24
$1,750,000
$1,750,000
2/1/23
2
3
1,756
65
$997
SLD
Kapalua Ridge
2911-13
$2,250,000
$2,225,000
3/22/23
2
3
1,778
37
$1,251
SLD
Kapalua Ridge
724
$1,389,000
$1,390,000
7/18/23
1
2
1,125
68
$1,236
SLD
Kapalua Ridge
1611-13
$1,950,000
$1,875,000
7/31/23
2
3
1,778
143
$1,055
In 2022, similar to other properties, the available inventory at the Ridge Villas was quite limited. The sale of a two bedroom villa set a record high of $1,900,000.
At the time of this post, there are two active listings and no pending sales at the Montage Kapalua Bay. There have been four sales YTD.
Status
Building Name
Unit
List Price
Sold Price
Close Date
Beds
Baths
Liv-SF
DOM
$/SQFT
MLS #
ACT
Montage Residences Kapalua Bay
4201
$4,395,000
3
3.5
2,065
123
$2,128
399361
ACT
Montage Residences Kapalua Bay
5104
$4,495,000
3
3.5
2,789
97
$1,612
399525
SLD
Montage Residences Kapalua Bay
2206
$3,800,000
$3,650,000
2/21/23
3
3.5
2,904
974
$1,257
387459
SLD
Montage Residences Kapalua Bay
4503
$4,595,000
$4,450,000
5/1/23
3
3.5
2,079
201
$2,140
397124
SLD
Montage Residences Kapalua Bay
1203
$8,795,000
$8,200,000
6/13/23
3
3.5
2,904
363
$2,824
396141
SLD
Montage Residences Kapalua Bay
3501
$5,250,000
$5,250,000
6/14/23
3
3.5
2,065
40
$2,542
398797
While the record high sale was in 2021, the average sales price did increase at Montage as did the average sales price/sq. ft. It is noteworthy that the high sale in 2021 was a four bedroom residence. With only eight ever built, these seldom come up, but when they do sell, they command a high price that does impact the average sales price and price per sq. ft. as they are directly oceanfront residences that often command a higher price. The number of sales was similar to 2020, but the volume was significantly higher.
At the time of this post, there are four active listings at the Ritz-Carlton, Kapalua. There have been two sales Year to Date.
Status
Building Name
Unit
List Price
Sold Price
Close Date
Beds
Baths
Liv-SF
DOM
$/SQFT
MLS #
ACT
The Ritz Carlton Residences
1601
$1,685,000
1
1
872
236
$1,932
398419
ACT
The Ritz Carlton Residences
1126-1128
$3,250,000
2
2
1,398
120
$2,325
399404
ACT
The Ritz Carlton Residences
1614/1616
$3,650,000
2
2
1,333
35
$2,738
399953
ACT
The Ritz Carlton Residences
1626
$8,900,000
2
2.5
2,558
134
$3,479
399288
SLD
The Ritz Carlton Residences
1712
$1,680,000
$1,550,000
4/5/23
1
1
878
162
$1,765
397227
SLD
The Ritz Carlton Residences
1226-1228
$3,675,000
$3,100,000
10/30/23
2
2
1,477
348
$2,099
397394
The Ritz-Carlton Kapalua also saw an increase in the average sales price/sq. ft. with an increase in the sales price to list price ratio as well in 2022.
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,
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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.
This blog was updated on 7/28/23 and the interactive charts from the MLS were changed from rolling year of data to rolling 6 months.
Courtney M. Brown, R(S) & Team Vice President Island Sotheby's International Realty
