Kapalua Resort Market Update: 2023 Q1

Posted by Courtney M. Brown on Thursday, April 20th, 2023 at 2:44pm.

KAPALUA MARKET UPDATE: First Quarter 2023

The view from 330 Cook Pine Drive in Pineapple Hill, Kapalua

Kapalua Condominiums:  2018-Q1 2023

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.

Kapalua Resort Condo Sales

Key Stats by Community

How does the market in the first Quarter of 2023 stack up for each community when compared with prior years?

Coconut Grove on Kapalua Bay

Coconut Grove Kapalua Condo Sales

In the first quarter of 2023 there were no sales at Coconut Grove. 

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.

Metrics: 2022 vs. 2021
Number of Sales -67%
Sales Volume -62%
Low Sales Price +43%
High Sales Price -9%
Average Sales Price +14%
Average Sales Price/Sq. Ft. +19%
Average DOM -57%
Average Sales Price/List Price -4%

View Coconut Grove Kapalua units for sale

Kapalua Ironwoods

Kapalua Ironwoods Condo Sales

**Note Ironwoods 102 was purchased by Pacaso and has been sold off in 1/4 interests.  Those listings and sales are not accounted for in these figures.  Since 2020 about 30% of the residences at the Ironwoods changed hands.

In the first quarter of 2023, there were no sales at the Kapalua Ironwoods.

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.

Metrics: 2022 vs. 2021
Number of Sales -20%
Sales Volume -2%
Low Sales Price +53%
High Sales Price +51%
Average Sales Price +23%
Average Sales Price/Sq. Ft. +6%
Average DOM -53%
Average Sales Price/List Price +3%

View Kapalua Ironwoods for Sale

Kapalua Bay Villas

Kapalua Bay Villas condo sales

In the first quarter of 2023, there was just one Bay Villa to sell.  A one bedroom, ocean view condominium in building 17. 

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.

Metrics: 2022 vs. 2021
Number of Sales -67%
Sales Volume -57%
Low Sales Price +72%
High Sales Price +10%
Average Sales Price +30%
Average Sales Price/Sq. Ft. +36%
Average DOM -71%
Average Sales Price/List Price +4%

View Kapalua Bay Villas for Sale

Kapalua Golf Villas 

Kapalua Golf Villas Condo Sales

In the first quarter of 2023, there were two Golf Villa sales, a one bedroom in building 21 and a 2 bedroom in building 25.

In 2022, the Golf Villas experienced about half of the sales of 2021, but like other properties, the sale of a renovated two-bedroom in 21 building set a record high, thereby increasing the average sales price and price per square foot dramatically.

Metrics: 2022 vs. 2021
Number of Sales -52%
Sales Volume -34%
Low Sales Price +57%
High Sales Price +39%
Average Sales Price +39%
Average Sales Price/Sq. Ft. +41%
Average DOM -34%
Average Sales Price/List Price +1%

View Kapalua Golf Villas for Sale

Kapalua Ridge Villas

Kapalua Ridge Villas Condo Sales

In 2023, there were two villas to sell, both two bedrooms, in buildings 12 and 29.

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.

Metrics: 2022 vs. 2021
Number of Sales -61%
Sales Volume -50%
Low Sales Price +61%
High Sales Price +12%
Average Sales Price +26%
Average Sales Price/Sq. Ft. +45%
Average DOM -61%
Average Sales Price/List Price +3%

View Kapalua Ridge Villas for sale

Montage Residences Kapalua Bay

Montage Kapalua Bay Condo Sales

In the first quarter of 2023, there was just one Residence to sell at the Montage, a three bedroom residence located on the ground floor in building 2.

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.

Metrics: 2022 vs. 2021
Number of Sales -63%
Sales Volume -61%
Low Sales Price +11%
High Sales Price -40%
Average Sales Price +4%
Average Sales Price/Sq. Ft. +16%
Average DOM 0%
Average Sales Price/List Price -1%

View Montage Residences Kapalua Bay for Sale

Ritz-Carlton Kapalua Residences 

Ritz Carlton Residences Kapalua Condo Sales

There have been no condo sales in the first quarter of 2023 at the Ritz-Carlton Residences in Kapalua.

In 2022, 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.

Metrics: 2022 vs. 2021
Number of Sales -20%
Sales Volume -23%
Low Sales Price +5%
High Sales Price +0%
Average Sales Price -4%
Average Sales Price/Sq. Ft. +8%
Average DOM -64%
Average Sales Price/List Price +5%

View Ritz-Carlton Residences Kapalua for Sale

KAPALUA RESIDENTIAL MARKET UPDATE

Kapalua's Residential Communities

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

In the first quarter of 2023, there were only two home sales: a home in Pineapple Hill that sold at $4,150,000 and a home in Pineapple Hill Estates that sold for $5,775,000.

KAPALUA HOME SALES

Kapalua Home Sales Q1 2023 

PINEAPPLE HILL & PINEAPPLE HILL ESTATES

Pineapple Hill and Pineapple Hill Estates Home Sales

View Pineapple Hill & Pineapple Hill Estates Homes for sale

PLANTATION ESTATES AT KAPALUA HOMES

Plantation Estates Home Sales

View Plantation Estates Homes for Sale

HONOLUA RIDGE HOMES

Honolua Ridge Kapalua Home Sales

View Honolua Ridge Homes for sale

MAHANA ESTATES HOMES

Mahana Estates Home Sales

 View Mahana Estates Homes

KAPALUA PLACE & OCEANFRONT HOMES

Kapalua Place Home SalesActive listings: 

9 Bay Drive is an oceanfront 7B/10B home on 9.63 acres listed at $41,900,000

There is just one remaining oceanfront lot in Kapalua, which sold in 2020 for $8,000,000 and $108/sq. ft.  It will likely soon be developed.

View Kapalua Place and Kapalua Oceanfront homes for sale

KAPALUA LAND SALES

In the first quarter of 2023, there are no lot sales to report in the Kapalua Resort.  

Kapalua Land Sales

Pineapple Hill & Pineapple Hill Estates Land

Pineapple Hill & Pineapple Hill Estates Land Sales

View Pineapple Hill & Pineapple Hill Estates Land for Sale

Plantation Estates Land

Plantation Estates Land Sales

View Plantation Estates Land for Sale

Mahana Estates Land

Mahana Estates Land Sales 

View Mahana Estates Land for Sale

Honolua Ridge Land

Honolua Ridge Land Sales

View Honolua Ridge Land for Sale

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,

53 Properties Found. Page 7 of 9

Introducing A Rare Opportunity To Own A Direct ...

Photo of Listing #400337

$12,950,000 Pending Fee Simple

  • 4 Beds
  • Baths
  • 21 Acres
  • 4,055 ft²

Residential

1 Bay Dr, Unit 2201, Kapalua, HI

MLS® #400337

Listed By: Compass
Office Contact: Cell: 808-283-3436

Introducing A Rare Opportunity To Own A Direct Oceanfront Montage Residence At Kapalua Bay, Maui. This Exquisite 4-bedroom, 4.5-bath Residence Is One Of Only 8 Four-bedrooms On The Property, Offering A Unique Blend Of Luxury, Comfort, And Natural Beauty. B...

Refreshed, Repriced And Ready For Your Final To...

Photo of Listing #400310

$6,295,000 Active Fee Simple

  • 3 Beds
  • Baths
  • 11.13 Acres
  • 2,783 ft²

Residential

24 Coconut Grove Ln, Unit 24, Kapalua, HI

MLS® #400310

Listed By: Compass
Office Contact: Cell: 808-214-0302

Refreshed, Repriced And Ready For Your Final Touch! Being Offered For The First Time By The Original Occupants, 24 Coconut Grove Represents A Rare Opportunity On Maui To Own A Pre-eminent Luxury Beachfront Condominium. Coconut Grove Is A Private Community N...

Nestled On The Kapalua Bay Course, This Beautif...

Photo of Listing #400301

$1,874,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 15.84 Acres
  • 1,344 ft²

Residential

500 Kapalua Dr, Unit 25t6-7, Kapalua, HI

MLS® #400301

Listed By: Island Sotheby's Int'l Rlty(L)
Office Contact: Cell: 808-250-0210

Nestled On The Kapalua Bay Course, This Beautifully Upgraded Golf Villa Is Perched On The 5th Tee With Sweeping Views Of The Golf Course And The Pacific Ocean. This Villa Offers The Ultimate Blend Of Comfort, Convenience, And Island-style Elegance. The Sp...

Embrace The Essence Of Private Island Living In...

Photo of Listing #400304

$19,500,000 Active Fee Simple

  • 6 Beds
  • Baths
  • 0.65 Acres
  • 7,810 ft²

Residential

7 Kapalua Pl, Kapalua, HI

MLS® #400304

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-250-1583

Embrace The Essence Of Private Island Living In This Beachfront Beauty Located In Exclusive Kapalua Resort On Kapalua Place, West Maui’s Only Gated Beachfront Residential Community. 7 Kapalua Place Is One Of Only Five Oceanfront Estates Located In This Magn...

Introducing A Once-in-a-lifetime Opportunity To...

Photo of Listing #399975

$2,750,000 Active Fee Simple

  • 8.28 Acres

Land

Lot 6 Honoapiilani Hwy, Unit Lot 6, Kapalua, HI

MLS® #399975

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-283-3067

Introducing A Once-in-a-lifetime Opportunity To Own A Piece Of Paradise In The Prestigious Plantation Estates Of Maui, Where The Lush Greens Of An Esteemed Golf Course Meet The Azure Horizons Of The Pacific Ocean. Nestled Within This Exclusive Community, Th...

Located In The Kapalua Resort, Mahana Estates I...

Photo of Listing #399964

$9,895,000 Active Fee Simple

  • 5 Beds
  • Baths
  • 1.7 Acres
  • 4,077 ft²

Residential

410 Mahana Ridge St, Unit Lot 28, Kapalua, HI

MLS® #399964

Listed By: Welcome Hawaii Properties
Office Contact: Cell: 808-280-2480

Located In The Kapalua Resort, Mahana Estates Is A Gated Community Sitting Between The Ritz Carlton And The World-famous Pga Plantation Golf Course. Sitting On 1.7 Acres Of Prime Ocean-view Land, 410 Mahana Ridge Is A Project That’s Been 3 Years In The Mak...

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.

Courtney M. Brown, R(S) & Team
Vice President
Island Sotheby's International Realty

 

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