Kapalua Resort: Market Update June, 2021

Posted by Courtney M. Brown on Tuesday, June 1st, 2021 at 5:00pm.

The Kapalua Resort: Market Update 
June 1, 2021

Kapalua Maui

Market Overview: Kapalua Resort Condos, Homes and Land

Active Listings: 54
Price Range: $750,000-$9,900,000
Avg LP/Sq. ft.: $779
Avg DOM: 264
Pending Sales: 46
Price Range: $760,000-8,500,000
Avg LP/Sq. Ft.: $786
Avg DOM: 174

KAPALUA RESORT YTD 2021 YTD 2020 YTD Change 2020 Change
Sales 99 17 482% 65 52%
Volume $228,099,750 $29,759,100 666% $173,329,500 32%
Avg LP $2,422,861 $1,878,000 29% $3,065,305 -21%
Avg SP $2,304,038 $1,684,471 37% $2,666,607 -14%
SP/LP 96% 93% 3% 93% 3%
Avg SP/Sq. Ft. $803 $800 0% $897 -10%
Avg DOM 183 151 21% 176 4%


Note: Data is through 5.31.2021 and compares the same period of time in 2020.  Fractional sales at the Montage Residences, Kapalua Bay are not included in this summary

Similar to the housing markets across the US, the Kapalua Resort market is seeing a remarkable amount of activity in 2021 vs. the same period in 2020.  The total number of sales is up 482% and volume 666%.  The average sales price is up 37% over the same period in the prior year.  It's noteworthy that the average sales price/sq. ft. is level. This would be influenced by more vacant land sales (22 compared with 2 in 2020) added into the mix, with a 15-acre parcel selling in Honolua Ridge at just $2/sq. ft in 2021.  It is noteworthy that in 2021, the high SP/sq. ft. year to date is at the Montage Residences, where an oceanfront residence closed at $2101/sq. ft.   In 2020, the high was $1842/sq. ft. for an oceanfront residence at the Ironwoods.  

With pending sales currently at 46, the resort is on track to see sales volume 123% over that of 2020 at a very minimum.

Market Overview: Kapalua Resort Condominiums

Active Listings: 24
Price Range: $785,000-8,700,000
Avg LP/Sq. ft.: $1403
Avg DOM: 212
Pending Sales: 29
Price Range: $769,000-8,500,000
Avg LP/Sq. Ft.: $1141
Avg DOM: 193

KAPALUA CONDOS YTD 2021 YTD 2020 YTD Change 2020 Change
Sales 59 12 392% 40 48%
Volume $106,792,250 $16,166,000 561% $68,617,500 56%
Avg LP $1,876,784 $1,420,917 32% $1,806,947 4%
Avg SP $1,810,038 $1,347,167 34% $1,715,438 6%
SP/LP 96% 95% 1% 94% 2%
Avg SP/Sq. Ft. $1,035 $937 10% $1,000 4%
Avg DOM 193 162 19% 165 17%

Kapalua has seven different condominium communities.  There are the Bay Villas, Golf Villas, and Ridge Villas, which are a mix of one and two-bedroom condominium units (sometimes three-bedroom villas will pop up, when a two-bedroom villa has been modified) that can be rented short term.  The Ritz-Carlton Residences, Kapalua and Montage Kapalua Bay are luxury residences situated in five-star hotels.  The Coconut Grove and Ironwoods are low density, low-rise communities, with private garages.  Both the Coconut Grove and Ironwoods have restrictions in place regarding short-term rentals, lending a more residential feel to the properties.

The number of sales is up 392%, and volume is up 561%.   Average Sales Price is up 34%.  It's noteworthy that the DOM on market is also up, but the market is currently moving very swiftly at the lower end of the market, so this may be reflective of older, higher-priced inventory selling.

View Kapalua Condos for Sale

Market Overview: Kapalua Resort Homes 

Active Listings: 7
Price Range: $2,850,000-$9,900,000
Avg LP/Sq. ft.: $1105
Avg DOM: 342
Pending Sales: 4
Price Range: $2,600,000-$4,695,000
Avg LP/Sq. Ft.: $690
Avg DOM: 211

KAPALUA HOMES YTD 2021 YTD 2020 Change 2020 Change
Sales 18 3 500% 17 6%
Volume $95,627,500 $10,870,000 780% $90,787,000 5%
Avg LP $5,654,611 $4,391,667 56% $6,473,563 -13%
Avg SP $5,312,639 $3,623,333 47% $5,321,063 0%
SP/LP 94% 87% 8% 91% 3%
Avg SP/Sq. Ft. $1,009 $781 29% $1,043 -3%
Avg DOM 165 158 4% 156 6%

As people revaluated their living spaces shifting to homes over condos in both late 2020 and early 2021, the residential market in Kapalua saw an unprecedented amount of activity.  Condo sales seemed to pick up a bit later, as travel restrictions started to lift.  

Sales increased dramatically, particularly in the Pineapple Hill and Plantation Estates communities.  There are fewer homes in Honolua Ridge and Mahana Estates, though that is starting to change with some new construction underway.  

View Kapalua Homes for Sale

Market Overview: Kapalua Resort Land

Active Listings: 22
Price Range: $750,000-$7,250,000
Avg LP/Sq. ft.: $29
Avg DOM: 295
Pending Sales: 13
Price Range: $850,000-$2,900,000
Avg LP/Sq. Ft.: $23
Avg DOM: 119

KAPALUA LAND YTD 2021 YTD 2020 Change 2020 Change
Sales 22 2 1000% 8 175%
Volume $25,680,000 $1,600,000 1505% $13,925,000 84%
Avg LP $1,243,182 $850,000 55% $2,061,250 -40%
Avg SP $1,167,273 $800,000 46% $1,740,625 -33%
SP/LP 95% 94% 1% 89% 7%
Avg SP/Sq. Ft. $15 $11 36% $32 -53%
Avg DOM 173 74 134% 284 -39%

Across the Kapalua Resort, vacant land sales had the most dramatic increase of all, with sales in the new Mahana Estates development picking up.  There are only a handful of undeveloped lots left in Pineapple Hill and Pineapple Hill Estates.

View Kapalua Land for Sale

View all properties for sale in Kapalua

53 Properties Found. Page 7 of 9

Stunning Custom Island Home Located In Kapalua'...

REDUCED 12% Photo of Listing #400594

$4,900,000 Active Fee Simple

  • 4 Beds
  • Baths
  • 0.47 Acres
  • 4,121 ft²

Residential

238 Crestview Rd, Kapalua, HI

MLS® #400594

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

Stunning Custom Island Home Located In Kapalua's Most Coveted Neighborhood, Pineapple Hill. This Luxurious Home Is Set Up For Indoor/outdoor Island Living With Pocket Sliders Extending The Spacious Indoor Living Space Flowing Out To The Expansive Lanai, Poo...

This Exquisitely Furnished Residence Offers Lux...

REDUCED 5% Photo of Listing #400442

$7,500,000 Active Fee Simple

  • 3 Beds
  • Baths
  • 21 Acres
  • 2,789 ft²

Residential

1 Bay Dr, Unit 1204, Kapalua, HI

MLS® #400442

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

This Exquisitely Furnished Residence Offers Luxury Resort-style Living, Elevating The Experience Of Coastal Elegance To New Heights. With Direct Oceanfront Access And A Walkout To A Tropical, Grassy Lawn Area, This Second-floor Elevation Home Presents An In...

Located Perfectly Along The Kapalua Bay Golf Co...

REDUCED 7% Photo of Listing #400427

$1,300,000 Pending Fee Simple

  • 1 Beds
  • 2 Baths
  • 15.84 Acres
  • 972 ft²

Residential

500 Kapalua Dr, Unit 24t3-4, Kapalua, HI

MLS® #400427

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-214-4799

Located Perfectly Along The Kapalua Bay Golf Course, The Kapalua Golf Villas Offer One Of The Best Locations For A Short-term Rentable Condo Anywhere On Maui. This Unit In Building 24 Fully Captures An Incredible Ocean View Framed By The Outer Islands Of La...

Built On A Secluded Double Lot At The End Of A ...

REDUCED 10% Photo of Listing #400328

$8,950,000 Active Fee Simple

  • 6 Beds
  • Baths
  • 0.62 Acres
  • 7,448 ft²

Residential

1216 Summer Rd, Kapalua, HI

MLS® #400328

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

Built On A Secluded Double Lot At The End Of A Private Cul-de-sac In Kapalua Resort's Pineapple Hill Gated Community, Is The Prestigious Residence Known As Emerald Point. With More Than 7,000 Square Feet Of Living Space, Complemented With Spacious Covered O...

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...

REDUCED 12% Photo of Listing #400301

$1,645,000 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 International Realty(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...

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

 

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