Posted by Courtney M. Brown on Tuesday, June 1st, 2021 at 5:00pm.
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.
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.
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.
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.
Residential 1 Ritz Carlton Dr 1221-23, Kapalua, HI MLS® #406873 Listed By: Compass-W Introducing Ritz Residential Suites 1221-23, A Luxurious, Generously Sized Two Bedroom/two Bath Located On The North Side Of The Resort Looking Towards Honolua Bay And The Spectacular West Maui Mountains. 1221-23 Is Configured As A "lock-off", Allowing The ... Residential 1 Bay Dr 6302, Kapalua, HI MLS® #406691 Listed By: Keller Williams Realty Maui-Ka This Is A Turnkey Private Ownership Opportunity At The Magnificent Forbes Five-star Montage Residences At Kapalua Bay. Secluded And Tranquil, Stand Alone Building 6, The Molokai Wing, Sits Conveniently Positioned With Its Own Separate Driveway To This 20+-a... Residential 1 Bay Dr 1103, Kapalua, HI MLS® #406660 Listed By: Island Sotheby's International Realty(L) With Views Of Kapalua Bay And Year-round Sunsets, The Montage 1103 Is One Of The Most Sought-after Direct Oceanfront Locations In All Of Kapalua. This First-floor Single-level Residence Spans Over 2900 Sq Ft With 3 Bedrooms Plus A Den And Offers Breathtakin... Residential 116 Pulelehua St 1, Kapalua, HI MLS® #406659 Listed By: Keller Williams Realty Maui-L Welcome To 116 Pulelehua Street In Pineapple Hill Estates, Where Elegance Meets Leisure! Nestled Behind The Scenic 7th Tee Box Of The Renowned Kapalua Bay Course, This Stunning Home Is Designed For Both Relaxation And Enjoyment. With Its Inviting Westerly V... Residential 14 Coconut Grove Ln D14, Kapalua, HI MLS® #406667 Listed By: Hawaii Life (L) Welcome To Residence D14 At Coconut Grove On Kapalua Bay, A Rare Offering Of Unparalleled Beachfront Luxury In The Heart Of The World-renowned Kapalua Resort On Maui’s Spectacular West Side. This 3-bedroom, 3.5-bathroom Oceanfront Villa Spans 2,625 Square F... Residential 1 Bay Dr 4505, Kapalua, HI MLS® #406396 Listed By: Coldwell Banker Island Prop(S) Rare, Turnkey 5th Floor Elevation Hotel Residence At Montage Kapalua Bay- One Of The Highest Locations On The Property, Offering A "premier Oceanview Residence" Category. This Home Is Hotel-zoned For Nightly Rentals In A 5-star Resort Allowing Access To Mon...
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Courtney M. Brown, R(S) & Team
Vice President
Island Sotheby's International Realty