Maui Real Estate & Lifestyle News

Maui Real Estate Statistics: October, 2024

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Thu, 07 Nov 2024 11:57:00 -1000

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. The October MAUI Real Estate Statistics report notes: U.S. existing-home sales unexpectedly slipped 1.0 month-over-month and 3.5 year-over-year to a seasonally adjusted annual rate of 3.84 million, the lowest level in more than a decade, according to the National Association of REATORS® (NAR). Prospective buyers have pulled back in recent months, despite lower mortgage rates and more home choices compared to the same time last year. New Listings decreased 4.8 percent for Single Family homes but increased 13.0 percent for Condominium homes. Pending Sales increased 24.0 percent for Single Family homes and 3.1 percent for Condominium homes. Inventory increased 36.2 percent for Single Family homes and 168.1 percent for Condominium homes. Median Sales Price increased 2.4 percent to $1,300,000 for Single Family homes and 9.2 percent to $892,500 for Condominium homes. Days on Market decreased 1.6 percent for Single Family homes but increased 24.8 percent for Condominium homes. Months Supply of Inventory increased 30.0 percent for Single Family homes and 200.0 percent for Condominium homes. There were 1.39 million homes for sale heading into October, a 1.5 increase from the previous month and a 23 increase from the same period last year, for a 4.3-month supply at the current sales pace, according to NAR. Even with improving supply and the slower sales pace, home prices have continued to rise nationwide, with NAR reporting a median existing-home price of $404,500 as of last measure, a 3 increase from one year ago. MAUI HOMES: ACTIVE LISTINGS, PENDING SALES, AND SALES* Active Listings: 319 homes from $100,000 for a court ordered home for sale in Kula to $75,000,000 for Hana Ranch, followed by $25,000,000 for a home for sale in Wailea. Pending: 125 homes from $500,000 Leasehold for a home in Hawaiian Home Lands to $9,975,000 for a home in Kula.Sold (2024): 602 homes from $405,000 in Haiku to $38,500,000 for a home in Maluhia MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings: 655 condos listed from $193,000 for a condo in Kahului to $17,500,000 for a condominium residence at Wailea PointPending: 109 condos pending, ranging from $175,000 Leasehold for a condo in Honokowai to $3,600,000 condo at Kaanapali Alii and a condo at Kai Malu.Sold (2024): 735 condos sold, ranging from $95,000 to $22,000,000 for a condo at Discovery's Makena Golf and Beach Club. This continued increase in listing inventory and leveling off in pending sales is likely attributable to theproposed changes to Maui County's Short Term Rental rules and regulations. MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings: 130 parcels from $325,000 in Kahului to $12,500,000 for a home site in MakenaPending: 27 lots from $299,000 in Hana to $7,000,000 for a parcel in KulaSold (2024): 150 lots from $175,000 in Haiku to two parcels each selling at $11,700,000 as part of Discovery's Makena Golf and Beach Club. *Molokai and Lanai are not included in the above-written summaries, although they are a part of Maui County. This data is taken from the MLS on the date of this post, 11/7/24 Read the full report and see how it compares to prior years here: Maui Real Estate Statistics

Maui's Resort Areas: a Nine Month Review of the Market

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Fri, 10 May 2024 17:47:00 -1000

Maui's Resort Areas: a 9 Month Review of the Market for Condos and Homes How the past nine months compare with the same period in the prior year Maui has been slowly recovering in the wake of the tragic fire of August 8, 2023. Many buyers and sellers have asked me how the market is doing, so I've compiled some data for both condominium and home sales by area comparing the period from 8/8/23-5/8/24 with the same period in 22-23. West and South Maui Condo Sales The statistics show that sales are down primarily in West Maui, with the condominium market in Kapalua hit the hardest, with number of sales down -66 and dollar volume down 49. with uncertainty regarding the future of Short Term Rentals in the apartment zone, we are seeing more sales at hotel-zoned properties. Kaanapali has more hotel-zoned properties (like Honua Kai, Whaler, Alii, and Mahana) at lower prices than Kapalua, which has the Montage Residences, Kapalua Bay and the Ritz-Carlton, Kapalua, which command higher sales prices. However, while it appears that condo sales are up in Wailea & Makena, and subsequently, South Maui, they are actually down -19 if you remove the new developer sales. It's important to note that two developments began closing in 2022-2023 (Paradise Ridge in Kihei and Makena Golf & Beach Club). In 2023-204, we continued to see new sales recording at Makena Golf & Beach Club and at Lai Loa. In the last 9 months, there were 55 sales at Lai Loa and 13 at Makena GBC. This amounts to 60 of the Wailea/Makena condo sales. The low sales price was $1,519,250 and the high was $13,000,000. The total sales volume at these two complexes was $291,586,280 or 60 of the total dollar volume. It also impacts stats such as days on market, as they typically will go under contract pre-construction. That is why the average days on market for this period for all of Wailea/Makena is 620, but if the new development is removed, it is actually 95. It is also important to note where we are seeing the majority of the sales activity. In the last nine months, the bulk of the condo sales (96) in West Maui are under $3,000,000. In fact, 62 were under $1M, 29 from $1-2M, and 5 from $2-3M. In West Maui, there was only one sale over $5M, a Montage Residence at Kapalua Bay that closed at $12M In South Maui those stats are a bit different due to the new developments, with 88 under $3M and 12 from $3-13M. I expect we may see a slowing of sales in the condominium market in the next quarter, particularly in those areas not zoned hotel, on the heels of the Mayor's announcement of a bill to phase out short term rentals in apartment zones. This affects more than 7000 properties that currently rent legally under Chapter 19.12.020 of the County Code. Read More about the proposed legislation that is impacting Maui's Short Term Rentals Volume () of Condo Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change West & South Maui 657 610 -7 West Maui 273 188 -31 South Maui 384 422 10 Maalaea 33 27 -18 Kihei 286 279 -2 Wailea Makena 65 116 78 Wailea (exclude new dev) 57 46 -19 Lahaina 56 2 -96 Kaanapali 62 59 -5 Napili/Kahana/Honokowai 126 117 -7 Kapalua 29 10 -66 Volume ($) Condo Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change West & South Maui $807,171,395 $964,984,382 20 West Maui $313,600,610 $214,749,408 -32 South Maui $493,570,785 $732,114,974 48 Maalaea $23,137,500 $20,138,580 -13 Kihei $245,201,236 $257,362,116 5 Wailea Makena $225,232,049 $454,614,278 102 Wailea (exclude new dev) $135,857,149 $163,027,998 20 Lahaina $59,165,500 $235,000 -100 Kaanapali $94,589,500 $96,732,250 2 Napili/Kahana/Honokowai $96,646,610 $85,785,158 -11 Kapalua $63,199,000 $31,997,000 -49 Median Condo Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change West & South Maui $852,500 $915,000 7 West Maui $885,000 $827,500 -6 South Maui $831,250 $959,500 15 Maalaea $709,000 $701,000 -1 Kihei $794,000 $800,000 1 Wailea Makena $2,050,000 $2,662,275 30 Wailea (exclude new dev) $1,795,000 $2,800,000 56 Lahaina $850,000 $117,500 -86 Kaanapali $1,346,250 $1,500,000 11 Napili/Kahana/Honokowai $755,000 $689,000 -9 Kapalua $1,675,000 $2,297,500 37 Low Condo Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM * $160,000 $95,000 -41 West Maui * $160,000 $95,000 -41 South Maui *** $345,000 $239,000 49 Maalaea *** $390,000 $326,000 -16 Kihei ** $390,000 $239,000 -39 Wailea Makena $1,095,000 $999,999 -9 Wailea (exclude new dev) $1,095,000 $999,999 -9 Lahaina* $330,000 $95,000 -71 Kaanapali *** $380,000 $475,000 25 Napili/Kahana/Honokowai *** $160,000 $210,000 31 Kapalua $655,000 $750,000 15 High Condo Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $13,000,000 $13,000,000 0 West Maui $6,250,000 $12,000,000 92 South Maui $13,000,000 $13,000,000 0 Maalaea $1,225,000 $1,350,000 10 Kihei $2,400,000 $2,400,000 0 Wailea Makena $13,000,000 $13,000,000 0 Wailea (exclude new dev) $11,575,000 $11,750,000 2 Lahaina $4,875,000 $140,000 -97 Kaanapali $5,525,000 $4,625,000 -16 Napili/Kahana/Honokowai $2,300,000 $1,950,000 -15 Kapalua $6,250,000 $12,000,000 92 Avg Days on Market Condo Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM 121 187 55 West Maui 94 97 3 South Maui 141 227 61 Maalaea 66 64 -3 Kihei 145 79 -46 Wailea Makena 161 620 285 Wailea (exclude new dev) 96 95 -1 Lahaina 73 85 16 Kaanapali 62 102 65 Napili/Kahana/Honokowai 88 92 5 Kapalua 140 127 -9 Condo Sales by Price Range of Sales (West Maui) 8/8/22-5/8/23 8/8/23-5/8/24 Change <$1,000,000 159 116 -27 $1,000,001-2,000,000 88 55 -38 $2,000,001-3,000,000 17 10 -41 $3,000,001-4,000,000 2 3 50 $4,000,001-5,000,000 4 3 -25 $5,000,001-6,000,000 2 0 -100 $6,000,001-7,000,000 1 0 -100 $7,000,001-8,000,000 0 0 -- $8,000,001-9,000,000 0 0 -- $9,000,001-10,000,000 0 0 -- $10,000,001+ 0 1 100 of Sales (South Maui) 8/8/22-5/8/23 8/8/23-5/8/24 Change <$1,000,000 254 229 -10 $1,000,001-2,000,000 90 103 14 $2,000,001-3,000,000 22 40 82 $3,000,001-4,000,000 2 22 1000 $4,000,001-5,000,000 5 5 0 $5,000,001-6,000,000 1 2 100 $6,000,001-7,000,000 1 3 200 $7,000,001-8,000,000 0 3 300 $8,000,001-9,000,000 0 1 100 $9,000,001-10,000,000 1 5 400 $10,000,001+ 8 9 13 West and South Maui: Home Sales In West Maui, 73 of the home sales were under $3M, with the largest percentage in the $1-2M range. In South Maui, the figure was higher for homes under $3M at 84. That said in West Maui, there were only 3 sales over $5M and in South Maui, there were 9 sales over $5M. It is not surprising to see sales in the lower end of the market, as some of those who received insurance payouts opted to relocate. Lower priced inventory was harder to come by and home sales ( of Sales) was down everywhere except Wailea and Makena, where sales were up 11. In terms of Volume of sales ($) both Wailea and Makena were up, as was Napili/Kahana/Honokowai, which has more affordable housing than the resort areas of Kaanapali and Kapalua. It should be noted that Lahaina also includes the areas of Launiupoko and Olowalu. The sales in Lahaina these last nine months, were largely in Launiupoko (15), though there were 2 sales up in Kelawea which were out of the burn zone. Volume () of Home Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM 196 163 -17 West Maui 79 55 -30 South Maui 117 108 -8 Maalaea 0 1 100 Kihei & Maui Meadows 86 87 1 Wailea Makena 18 20 11 Launiupoko 14 13 -7 Lahaina 38 17 -55 Kaanapali 11 11 0 Napili/Kahana/Honokowai 23 23 0 Kapalua 6 4 -33 Volume ($) of Home Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $514,413,413 $389,186,422 -24 West Maui $229,264,222 $141,335,466 -38 South Maui $285,149,191 $247,850,956 -13 Maalaea $0 $2,933,006 -- Kihei & Maui Meadows $110,807,700 $135,060,000 22 Wailea Makena $142,618,491 $109,857,950 -23 Launiupoko $69,803,758 $42,314,500 -39 Lahaina $106,818,723 $47,880,250 -55 Kaanapali $50,390,000 $36,555,000 -27 Napili/Kahana/Honokowai $33,130,499 $37,300,216 13 Kapalua $36,825,000 $19,600,000 -47 Median Home Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $1,410,000 $1,695,000 20 West Maui $1,800,000 $2,000,000 11 South Maui $1,250,000 $1,482,500 19 Maalaea NA $2,933,006 -- Kihei & Maui Meadows $1,095,000 $1,375,000 26 Wailea Makena $4,781,000 $3,745,000 -22 Launiupoko $3,950,000 $3,087,000 -22 Lahaina $1,665,000 $2,995,000 80 Kaanapali $2,850,000 $2,700,000 -5 Napili/Kahana/Honokowai $1,529,000 $1,690,000 11 Kapalua $5,787,500 $5,000,000 -14 Average Home Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $2,624,598 $2,387,646 -9 West Maui $2,902,078 $2,569,735 -11 South Maui $2,437,172 $2,294,916 -6 Maalaea NA $2,933,006 -- Kihei & Maui Meadows $1,288,461 $1,552,413 20 Wailea Makena $7,923,249 $5,492,897 -31 Launiupoko $4,985,982 $3,254,961 -35 Lahaina $2,811,019 $2,816,485 0 Kaanapali $4,580,909 $3,323,181 -27 Napili/Kahana/Honokowai $1,440,456 $1,621,748 13 Kapalua $6,137,500 $4,900,000 -20 Low Home Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $450,000 $693,500 54 West Maui $450,000 $750,000 67 South Maui $450,000 $693,500 54 Maalaea NA $2,933,006 -- Kihei & Maui Meadows $450,000 $693,500 54 Wailea Makena $2,200,000 $1,930,000 -12 Launiupoko $1,680,000 $1,600,000 -5 Lahaina $450,000 $855,750 90 Kaanapali $1,900,000 $1,860,000 -2 Napili/Kahana/Honokowai $700,000 $750,000 7 Kapalua $4,150,000 $3,150,000 -24 High Home Sales Price 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM $32,673,491 $18,500,000 -43 West Maui $20,750,000 $6,450,000 -69 South Maui $32,673,491 $18,500,000 -43 Maalaea NA $2,933,006 -- Kihei & Maui Meadows $10,000,000 $4,000,000 -60 Wailea Makena $32,673,491 $18,500,000 -43 Launiupoko $9,750,000 $5,000,000 -49 Lahaina $9,750,000 $5,000,000 -49 Kaanapali $20,750,000 $5,350,000 -74 Napili/Kahana/Honokowai $2,450,000 $2,150,000 -12 Kapalua $7,900,000 $6,450,000 -18 Average Days on Market: Home Sales 8/8/22-5/8/23 8/8/23-5/8/24 Change WM & SM 119 110 -8 West Maui 126 132 5 South Maui 115 99 -14 Maalaea NA 0 -- Kihei & Maui Meadows 117 92 -21 Wailea Makena 119 134 13 Launiupoko 154 175 14 Lahaina 127 163 28 Kaanapali 170 155 -9 Napili/Kahana/Honokowai 91 84 -8 Kapalua 159 216 36 Homes of Sales (West Maui) 8/8/22-5/8/23 8/8/23-5/8/24 Change <$1,000,000 12 4 -67 $1,000,001-2,000,000 35 24 -31 $2,000,001-3,000,000 9 12 33 $3,000,001-4,000,000 8 6 -25 $4,000,001-5,000,000 1 6 500 $5,000,001-6,000,000 5 2 -60 $6,000,001-7,000,000 1 1 0 $7,000,001-8,000,000 3 0 -100 $8,000,001-9,000,000 3 0 -100 $9,000,001-10,000,000 1 0 -100 $10,000,001+ 1 0 -100 of Sales (South Maui) 8/8/22-5/8/23 8/8/23-5/8/24 Change <$1,000,000 32 16 -50 $1,000,001-2,000,000 56 56 0 $2,000,001-3,000,000 12 21 75 $3,000,001-4,000,000 6 6 0 $4,000,001-5,000,000 1 3 200 $5,000,001-6,000,000 3 0 -100 $6,000,001-7,000,000 1 3 200 $7,000,001-8,000,000 1 0 -100 $8,000,001-9,000,000 0 0 -- $9,000,001-10,000,000 1 3 200 $10,000,001+ 4 3 -25 Note: This information is taken from the Maui MLS as of 5/10/24. While care is taken to compile this information, it is not guaranteed and subject to change and some information may be entered at a later date. Any interested party should do their own due diligence. These are small statistical samples and can swing wildly by a low or high sale. If you have questions, please contact Courtney.

Wailea Condominium Market Update: Q1 2024

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Thu, 11 Apr 2024 11:11:00 -1000

WAILEA CONDOMINIUM MARKET UPDATE: Q1 2024 Wailea Resort Condominiums Wailea Condominiums Wailea is home to several different condominium resorts, including the Andaz, Grand Champions, Ho'olei, Kai Malu, Kanani Wailea, Keala O Wailea, Palms at Wailea, Wailea Palms, Makalii, Papali, Polo Beach Club, Wailea Beach Villas, Wailea Ekahi, Wailea Ekolu, Wailea Elua, Wailea Fairway Villas, Wailea Point, and Wailea Town Center. Makena is home to the Makena Golf & Beach Club, Makena Surf, Na Hale O Makena WAILEA & MAKENA CONDO SALES Q1 2024 2023 2022 2021 2020 2019 Number of Sales 43 112 130 315 144 140 Volume $138,202,749 $424,827,928 $359,939,459 $673,905,402 $321,397,970 $268,736,001 Low Sales Price $999,999 $1,050,000 $650,000 $375,000* $683,550 $599,000 High Sales Price $10,000,000 $13,000,000 $12,000,000 $16,000,000 $15,400,000 $10,866,000 Median $2,690,000 $2,427,050 $1,757,500 $1,550,000 $1,420,000 $1,282,500 Average SP $3,214,017 $3,793,107 $2,768,765 $2,139,382 $2,231,930 $1,919,543 Average SP/Sq. Ft. $1,840 $1,851 $1,719 $1,269 $1,176 $1,119 Average DOM 453 463 92 350 347 211 Average SP/LP 99 99 99 99 97 97 How does the market through the first quarter of 2024 stack up for each community as compared with prior years? A FIVE-YEAR OVERVIEW Andaz Wailea Andaz Wailea Condos for Sale Andaz Residences Q1 2024 2023 2022 2021 2020 2019 Sales 0 1 1 1 0 0 Volume NA $11,750,000 $11,900,000 6,950,000 $0 $0 Low SP NA $11,750,000 $11,900,000 6,950,000 NA NA High SP NA $11,750,000 $11,900,000 6,950,000 NA NA Median SP NA $11,750,000 $11,900,000 6,950,000 NA NA Average SP NA $11,750,000 $11,900,000 6,950,000 NA NA Average SP/Sq. Ft NA $4,176 $4,229 2,470 NA NA Average DOM NA 63 132 267 NA NA Average SP/LP NA 98 100 96 NA NA Grand Champions Grand Champions Condos for Sale Grand Champions Q1 2024 2023 2022 2021 2020 2019 Sales 0 5 10 29 12 13 Volume NA $7,365,000 $13,135,000 $26,155,500 $10,102,550 $10,298,900 Low SP NA $1,150,000 $850,000 $659,000 $683,550 $685,000 High SP NA $1,700,000 $1,595,000 $1,295,000 $1,200,000 $1,199,000 Median SP NA $1,515,000 $1,350,000 $799,000 $795,000 $760,000 Average SP NA $1,473,000 $1,313,500 $901,914 $841,879 $792,223 Average SP/Sq. Ft NA $1,407 $1,216 $825 $738 $732 Average DOM NA 111 92 150 98 144 Average SP/LP NA 95 99 99 97 97 Ho'olei Hoolei Condos for Sale Ho'olei 2024 2023 2022 2021 2020 2019 Sales 3 0 7 13 8 9 Volume $18,450,000 $0 $36,800,000 $45,151,000 $25,180,000 $27,155,000 Low SP $5,850,000 NA $4,325,000 $2,899,000 $2,250,000 $2,535,000 High SP $6,500,000 NA $6,225,000 $4,350,000 $3,500,000 $3,450,000 Median SP $6,100,000 NA $5,000,000 $3,500,000 $3,452,500 $3,050,000 Average SP $6,150,000 NA $5,257,143 $3,473,154 $3,147,500 $3,017,222 Average SP/Sq. Ft $2,225 NA $1,935 $1,322 $1,156 $1,108 Average DOM 35 NA 51 83 144 131 Average SP/LP 99 NA 101 96 94 96 Kai Malu at Wailea Kai Malu at Wailea Condos for Sale Kai Malu Q1 2024 2023 2022 2021 2020 2019 Sales 4 5 7 21 5 17 Volume $11,450,000 $12,645,000 $15,919,000 $33,969,100 $8,155,000 $25,244,000 Low SP $1,950,000 $2,095,000 $1,999,000 $1,300,000 $1,495,000 $1,245,000 High SP $3,300,000 $2,750,000 $2,615,000 $1,940,000 $1,750,000 $1,942,500 Median SP $3,100,000 $2,600,000 $2,200,000 $1,610,000 $1,685,000 $1,375,000 Average SP $2,862,500 $2,529,000 $2,274,143 $1,617,576 $1,631,000 $1,438,765 Average SP/Sq. Ft $1,567 $1,399 $1,243 $898 $902 $819 Average DOM 104 77 62 80 137 196 Average SP/LP 99 97 99 100 98 96 Kanani Wailea Kanani Wailea Condos for Sale Kanani Wailea Q1 2024 2023 2022 2021 2020 2019 Sales 0 2 3 6 1 2 Volume NA $4,050,000 $5,780,000 $8,617,000 $1,188,000 $2,398,000 Low SP NA $1,750,000 $1,680,000 $1,150,000 $1,188,000 $998,000 High SP NA $2,300,000 $1,900,000 $1,900,000 $1,188,000 $1,400,000 Median SP NA $2,025,000 $1,900,000 $1,321,000 $1,188,000 $1,999,000 Average SP NA $2,025,000 $1,926,667 $1,436,167 $1,188,000 $1,999,000 Average SP/Sq. Ft NA $981 $865 $658 $573 $573 Average DOM NA 77 72 163 310 310 Average SP/LP NA 94 99 100 99 94 Keala O Wailea Keala O Wailea Condos for Sale Keala O Wailea Q1 2024 2023 2022 2021 2020 2019 Sales 3 2 4 12 9 13 Volume $7,695,000 $5,225,000 $847,000 $23,053,000 $12,695,000 $18,859,000 Low SP $2,400,000 $2,400,000 $1,445,000 $1,280,000 $1,225,000 $1,060,000 High SP $2,800,000 $2,825,000 $2,727,000 $2,550,000 $1,670,000 $2,450,000 Median SP $2,495,000 $2,612,500 $2,162,500 $1,762,500 $1,415,000 $1,349,000 Average SP $2,565,000 $2,612,500 $2,124,250 $1,921,083 $1,410,556 $1,450,692 Average SP/Sq. Ft $1,917 $1,587 $1,593 $1,278 $1,094 $1,050 Average DOM 122 41 65 128 155 121 Average SP/LP 97 102 103 98 97 98 La'i Loa Lai Loa Condos for Sale Lai Loa Q1 2024 2023 Sales 18 31 Volume $45,538,750 $77,555,500 Low SP $1,519,250 $1,525,250 High SP $3,820,000 $3,803,500 Median SP $2,452,275 $2,449,550 Average SP $2,529,931 $2,501,790 Average SP/Sq. Ft $1,462 $1,407 Average DOM 956 1021 Average SP/LP 100 102 Makali'i Makalii Condos for sale Makalii Q1 2024 2023 2022 2021 2020 2019 Sales 1 3 5 71 14 0 Volume $3,250,000 $9,195,000 $14,110,000 $132,792,000 $21,094,000 $0 Low SP $3,250,000 $2,700,000 $1,750,000 $1,015,000 $1,250,000 NA High SP $3,250,000 $3,400,000 $3,300,000 $3,200,000 $1,950,000 NA Median SP $3,250,000 $3,095,000 $2,990,000 $1,812,000 $1,498,000 NA Average SP $3,250,000 $3,065,000 $2,822,000 $1,870,310 $1,506,714 NA Average SP/Sq. Ft $2,065 $1,784 $1,647 $1,113 $923 NA Average DOM 40 116 327 1170 1283 NA Average SP/LP 97 95 100 100 100 NA Makalii is a new development that launched in 2020 with presales beginning years prior. As such, days on market include build time and developer sales sell at 100 of asking Makena Golf & Beach Club Makena Golf & Beach Club Condos for Sale Makena Golf & Beach Club Q1 2024 2023 2022 2021 2020 2019 Sales 2 17 3 2 13 8 Volume $20,000,000 $176,684,480 $26,806,000 $23,027,000 $91,931,000 $79,848,000 Low SP $10,000,000 $4,375,000 $6,350,000 $10,527,000 $4,950,000 $9,037,000 High SP $10,000,000 $13,000,000 $11,256,000 $12,500,000 $15,400,000 $10,886,000 Median SP $10,000,000 $10,800,000 $9,200,000 $11,513,500 $7,044,000 $9,651,000 Average SP $10,000,000 $10,393,205 $8,953,333 $11,513,500 $7,071,615 $9,981,000 Average SP/Sq. Ft $3,151 $2,604 $1,995 $3,175 $1,929 $2,921 Average DOM 33 810 160 84 1071 1096 Average SP/LP 100 100 100 98 100 100 Makena Surf Makena Surf Condos for Sale Makena Surf Q1 2024 2023 2022 2021 2020 2019 2018 Sales 0 0 5 8 5 2 6 Volume NA NA $24,000,000 $27,495,000 $16,724,990 $4,848,000 $15,110,000 Low SP NA NA $3,800,000 $2,735,000 $2,350,000 $2,298,000 $1,900,000 High SP NA NA $5,500,000 $4,000,000 $5,999,990 $2,550,000 $3,600,000 Median SP NA NA $5,200,000 $3,600,000 $2,850,000 $2,424,000 $2,450,000 Average SP NA NA $4,800,000 $3,436,875 $3,344,998 $2,424,000 $2,518,333 Average SP/Sq. Ft NA NA $3,538 $2,439 $1,878 $1,800 $1,963 Average DOM NA NA 117 114 190 53 161 Average SP/LP NA NA 95 97 95 101 93 Na Hale O Makena Na Hale O Makena Condos for Sale Na Hale O Makena Q1 2024 2023 2022 2021 2020 2019 Sales 0 1 4 6 1 2 Volume NA $2,550,000 $13,400,000 $11,627,790 $1,413,750 $2,975,000 Low SP NA $2,550,000 $2,600,000 $1,500,000 $1,413,750 $1,325,000 High SP NA $2,550,000 $3,550,000 $2,543,790 $1,413,750 $1,650,000 Median SP NA $2,550,000 $3,400,000 $1,867,000 $1,413,750 $1,487,500 Average SP NA $2,550,000 $3,350,000 $1,937,965 $1,413,750 $1,487,500 Average SP/Sq. Ft NA $1,205 $1,288 $914 $668 $708 Average DOM NA 36 129 136 107 250 Average SP/LP NA 94 96 98 98 87 Palms I at Wailea Palms I at Wailea Condos for Sale Palms at Wailea Q1 2024 2023 2022 2021 2020 2019 Sales 0 8 18 16 15 7 Volume NA $13,476,000 $24,834,000 $15,698,000 $12,349,350 $5,765,001 Low SP NA $1,381,000 $985,000 $720,000 $690,000 $686,000 High SP NA $1,950,000 $1,575,000 $1,230,000 $1,400,000 $950,000 Median SP NA $1,675,000 $1,400,000 $932,500 $795,000 $875,000 Average SP NA $1,684,500 $1,379,667 $981,125 $823,290 $823,572 Average SP/Sq. Ft NA $1,437 $1,197 $863 $731 $736 Average DOM NA 62 73 129 175 136 Average SP/LP NA 99 100 100 100 100 Palms II at Wailea (Wailea Palms) Wailea Palms Condos for Sale Wailea Palms 2024 2023 2022 2021 2020 2019 Sales 1 4 8 10 5 10 Volume $1,705,000 $7,977,500 $14,225,000 $11,567,000 $4,299,000 $10,639,100 Low SP $1,705,000 $1,632,500 $1,500,000 $835,000 $725,000 $800,000 High SP $1,705,000 $2,595,000 $2,550,000 $1,650,000 $1,125,000 $1,600,000 Median SP $1,705,000 $1,875,000 $1,707,500 $1,162,500 $820,000 $990,000 Average SP $1,705,000 $1,994,375 $1,778,125 $1,156,700 $859,800 $1,063,910 Average SP/Sq. Ft $1,428 $1,443 $1,348 $950 $759 $820 Average DOM 69 149 65 112 98 100 Average SP/LP 97 98 100 98 98 95 Papali Wailea Papali Wailea Condos for Sale Papali Q1 2024 2023 2022 2021 2020 2019 Sales 0 0 0 4 1 0 Volume NA NA NA $16,170,000 $2,600,000 NA Low SP NA NA NA $3,795,000 $2,600,000 NA High SP NA NA NA $4,400,000 $2,600,000 NA Median SP NA NA NA $3,978,500 $2,600,000 NA Average SP NA NA NA $4,042,500 $2,600,000 NA Average SP/Sq. Ft NA NA NA $1,694 $1,090 NA Average DOM NA NA NA 93 609 NA Average SP/LP NA NA NA 100 87 NA Polo Beach Club Polo Beach Club Condos for Sale Polo Beach Club Q1 2024 2023 2022 2021 2020 2019 Sales 1 0 2 6 2 3 Volume $5,400,000 $0 $8,599,808 $20,155,000 $5,157,500 $7,825,000 Low SP $5,400,000 NA $3,999,808 $2,200,000 $2,575,000 $2,175,000 High SP $5,400,000 NA $4,600,000 $4,675,000 $2,600,000 $3,400,000 Median SP $5,400,000 NA $4,299,904 $3,365,000 $2,587,500 $2,940,000 Average SP $5,400,000 NA $4,299,904 $3,359,167 $2,587,500 $2,608,333 Average SP/Sq. Ft $4,369 NA $3,547 $2,696 $1,959 $2,134 Average DOM 186 NA 61 72 102 167 Average SP/LP 96 NA 99 97 99 97 Wailea Beach Villas Wailea Beach Villas Condos for Sale Wailea Beach Villas Q1 2024 2023 2022 2021 2020 2019 Sales 0 3 5 13 5 1 Volume NA $26,025,000 $41,225,000 $78,725,000 $19,944,000 $4,600,000 Low SP NA $6,525,000 $4,550,000 $2,845,000 $2,500,000 $4,600,000 High SP NA $10,900,000 $12,000,000 $14,000,000 $6,895,000 $4,600,000 Median SP NA $8,600,000 $7,800,000 $5,100,000 $3,900,000 $4,600,000 Average SP NA $8,675,000 $8,245,000 $6,055,769 $3,988,800 $4,600,000 Average SP/Sq. Ft NA $3,582 $3,160 $2,363 $1,534 $2,110 Average DOM NA 162 76 137 181 336 Average SP/LP NA 97 99 98 94 94 Wailea Ekahi Wailea Ekahi Condos for Sale Wailea Ekahi Q1 2024 2023 2022 2021 2020 2019 Sales 4 7 17 27 18 23 Volume $6,749,999 $11,620,427 $26,108,750 $31,861,512 $20,185,000 $2,725,700 Low SP $999,999 $1,436,627 $650,000 $647,000 $690,000 $650,000 High SP $2,800,000 $2,300,000 $2,070,000 $2,200,000 $2,750,000 $2,350,000 Median SP $1,475,000 $1,570,000 $1,575,000 $1,070,000 $974,500 $1,020,000 Average SP $1,687,500 $1,660,061 $1,535,809 $1,180,056 $1,221,389 $1,185,087 Average SP/Sq. Ft $2,021 $1,991 $1,687 $1,290 $1,147 $1,136 Average DOM 94 101 75 91 154 213 Average SP/LP 97 98 100 98 95 96 Wailea Ekolu Wailea Ekolu Condos for Sale Wailea Ekolu Q1 2024 2023 2022 2021 2020 2019 Sales 0 6 11 14 6 12 Volume NA $11,449,500 $18,650,000 $16,403,000 $5,729,999 $12,062,000 Low SP NA $1,542,000 $1,105,000 $899,000 $720,000 $645,000 High SP NA $2,362,500 $2,295,000 $1,525,000 $1,100,000 $1,300,000 Median SP NA $1,887,500 $1,700,000 $1,172,500 $1,012,500 $1,035,000 Average SP NA $1,908,250 $1,695,455 $171,643 $955,000 $1,005,167 Average SP/Sq. Ft NA $1,801 $1,735 $1,140 $929 $951 Average DOM NA 110 74 74 90 86 Average SP/LP NA 98 102 101 96 97 Wailea Elua Wailea Elua Condos for Sale Wailea Elua Q1 2024 2023 2022 2021 2020 2019 Sales 1 6 3 11 2 4 Volume $3,999,000 $23,105,000 $9,851,000 $29,100,000 $7,415,000 $7,030,000 Low SP $3,999,000 $2,800,000 $2,700,000 $1,550,000 $3,615,000 $1,500,000 High SP $3,999,000 $4,900,000 $4,201,000 $4,350,000 $3,800,000 $1,945,000 Median SP $3,999,000 $3,852,500 $2,950,000 $2,200,000 $3,707,500 $1,792,500 Average SP $3,999,000 $3,850,833 $3,283,667 $2,645,455 $3,707,500 $1,757,500 Average SP/Sq. Ft $3,151 $3,094 $2,812 $2,043 $2,945 $1,558 Average DOM 81 116 91 104 144 93 Average SP/LP 100 97 103 101 95 98 Wailea Fairway Villas Wailea Fairway Villas Condos for Sale Wailea Fairway Villas Q1 2024 2023 2022 2021 2020 2019 Sales 3 9 11 26 8 9 Volume $5,025,000 $13,217,021 $12,878,001 $24,430,500 $6,376,000 $6,912,000 Low SP $1,200,000 $1,095,000 $925,000 $725,000 $715,000 $599,000 High SP $2,500,000 $1,999,999 $1,495,000 $1,450,000 $1,090,000 $1,195,000 Median SP $1,325,000 $1,400,000 $1,150,000 $890,000 $767,000 $725,000 Average SP $1,675,000 $1,468,558 $1,170,727 $939,635 $797,000 $768,000 Average SP/Sq. Ft $1,353 $1,255 $1,177 $866 $772 $721 Average DOM 142 95 94 76 201 200 Average SP/LP 97 97 99 99 97 98 Wailea Point Wailea Point Condos for Sale Wailea Point Q1 2024 2023 2022 2021 2020 2019 Sales 2 2 5 17 14 5 Volume $8,940,000 $10,937,500 $23,110,000 $87,568,000 $48,840,331 $15,040,000 Low SP $4,090,000 $5,162,500 $2,075,000 $375,000* $1,525,000 $1,740,000 High SP $4,850,000 $5,775,000 $6,785,000 $16,000,000 $7,500,000 $5,400,000 Median SP $4,470,000 $5,468,750 $4,450,000 $5,000,000 $2,716,250 $2,650,000 Average SP $4,470,000 $5,468,750 $4,622,000 $5,151,059 $3,488,595 $3,008,000 Average SP/Sq. Ft $3,226 $2,983 $2,239 $1,945 $1,619 $1,582 Average DOM 65 151 80 169 174 140 Average SP/LP 91 93 97 97 95 94 *Sale of a garage Wailea Town Center Wailea Town Center Condos for Sale Wailea Town Center Q1 2024 2023 2022 2021 2020 2019 Sales 0 0 0 2 0 0 Volume NA NA NA $3,390,000 NA NA Low SP NA NA NA $1,690,000 NA NA High SP NA NA NA $3,390,000 NA NA Median SP NA NA NA $1,695,000 NA NA Average SP NA NA NA $1,695,000 NA NA Average SP/Sq. Ft NA NA NA $968 NA NA Average DOM NA NA NA 71 NA NA Average SP/LP NA NA NA 104 NA NA If you are thinking of buying or selling in Wailea or Makena, please contact Courtney M. Brown for more detailed information on the market at each of these Wailea and Makena 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.

Wailea & Makena Condominium Market Update: Q2 | 2023

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Fri, 28 Jul 2023 17:23:00 -1000

WAILEA CONDOMINIUM MARKET UPDATE: Q2 2023 Wailea Resort Condominiums Wailea Condominiums Wailea is home to several different condominium resorts, including the Andaz, Grand Champions, Ho'olei, Kai Malu, Kanani Wailea, Keala O Wailea, Palms at Wailea, Wailea Palms, Makalii, Papali, Polo Beach Club, Wailea Beach Villas, Wailea Ekahi, Wailea Ekolu, Wailea Elua, Wailea Fairway Villas, Wailea Point, and Wailea Town Center. Makena is home to the Makena Golf & Beach Club, Makena Surf, Na Hale O Makena WAILEA & MAKENA CONDOS Q2 2023 2022 2021 2020 2019 2018 Number of Sales 47 130 315 144 140 214 Volume $157,537,949 $359,939,459 $673,905,402 $321,397,970 $268,736,001 $327,196,895 Low Sales Price $1,095,000 $650,000 $375,000* $683,550 $599,000 $275,000* High Sales Price $13,000,000 $12,000,000 $16,000,000 $15,400,000 $10,866,000 $10,000,000 Median $1,995,000 $1,757,500 $1,550,000 $1,420,000 $1,282,500 $1,165,000 Average SP $3,351,871 $2,768,765 $2,139,382 $2,231,930 $1,919,543 $1,528,957 Average SP/Sq. Ft. $1,762 $1,719 $1,269 $1,176 $1,119 $995 Average DOM 184 92 350 347 211 351 Average SP/LP 97 99 99 97 97 97 How does the market through the second quarter of 2023 stack up for each community as compared with prior years? A FIVE-YEAR OVERVIEW Andaz Wailea Andaz Wailea Condos for Sale Andaz Residences Q2 2023 2022 2021 2020 2019 2018 2017 Sales 0 1 1 0 0 0 4 Volume $0 $11,900,000 6,950,000 $0 $0 $0 $18,495,000 Low SP NA $11,900,000 6,950,000 NA NA NA $4,250,000 High SP NA $11,900,000 6,950,000 NA NA NA $5,500,000 Median SP NA $11,900,000 6,950,000 NA NA NA $4,372,500 Average SP NA $11,900,000 6,950,000 NA NA NA $4,623,750 Average SP/Sq. Ft NA $4,229 2,470 NA NA NA 1681 Average DOM NA 132 267 NA NA NA 271 Average SP/LP NA 100 96 NA NA NA 100 Grand Champions Grand Champions Condos for Sale Grand Champions Q2 2023 2022 2021 2020 2019 2018 Sales 5 10 29 12 13 9 Volume $7,365,000 $13,135,000 $26,155,500 $10,102,550 $10,298,900 $6,152,000 Low SP $1,150,000 $850,000 $659,000 $683,550 $685,000 $528,000 High SP $1,700,000 $1,595,000 $1,295,000 $1,200,000 $1,199,000 $1,000,000 Median SP $1,515,000 $1,350,000 $799,000 $795,000 $760,000 $640,000 Average SP $1,473,000 $1,313,500 $901,914 $841,879 $792,223 $683,556 Average SP/Sq. Ft $1,407 $1,216 $825 $738 $732 $645 Average DOM 111 92 150 98 144 150 Average SP/LP 95 99 99 97 97 98 Ho'olei Hoolei Condos for Sale Ho'olei Q2 2023 2022 2021 2020 2019 2018 Sales 0 7 13 8 9 7 Volume $0 $36,800,000 $45,151,000 $25,180,000 $27,155,000 $18,442,500 Low SP NA $4,325,000 $2,899,000 $2,250,000 $2,535,000 $1,750,000 High SP NA $6,225,000 $4,350,000 $3,500,000 $3,450,000 $3,212,500 Median SP NA $5,000,000 $3,500,000 $3,452,500 $3,050,000 $3,100,000 Average SP NA $5,257,143 $3,473,154 $3,147,500 $3,017,222 $2,634,643 Average SP/Sq. Ft NA $1,935 $1,322 $1,156 $1,108 $1,025 Average DOM NA 51 83 144 131 253 Average SP/LP NA 101 96 94 96 96 Kai Malu at Wailea Kai Malu at Wailea Condos for Sale Kai Malu Q2 2023 2022 2021 2020 2019 2018 Sales 4 7 21 5 17 12 Volume $10,045,000 $15,919,000 $33,969,100 $8,155,000 $25,244,000 $17,968,500 Low SP $2,095,000 $1,999,000 $1,300,000 $1,495,000 $1,245,000 $1,150,000 High SP $2,750,000 $2,615,000 $1,940,000 $1,750,000 $1,942,500 $1,850,000 Median SP $2,600,000 $2,200,000 $1,610,000 $1,685,000 $1,375,000 $1,475,000 Average SP $2,511,250 $2,274,143 $1,617,576 $1,631,000 $1,438,765 $1,497,375 Average SP/Sq. Ft $1,398 $1,243 $898 $902 $819 $826 Average DOM 84 62 80 137 196 130 Average SP/LP 96 99 100 98 96 96 Kanani Wailea Kanani Wailea Condos for Sale Kanani Wailea Q2 2023 2022 2021 2020 2019 2018 Sales 2 3 6 1 2 3 Volume $4,050,000 $5,780,000 $8,617,000 $1,188,000 $2,398,000 $3,424,000 Low SP $1,750,000 $1,680,000 $1,150,000 $1,188,000 $998,000 $959,000 High SP $2,300,000 $1,900,000 $1,900,000 $1,188,000 $1,400,000 $1,450,000 Median SP $2,025,000 $1,900,000 $1,321,000 $1,188,000 $1,999,000 $1,015,000 Average SP $2,025,000 $1,926,667 $1,436,167 $1,188,000 $1,999,000 $1,141,333 Average SP/Sq. Ft $981 $865 $658 $573 $573 $514 Average DOM 77 72 163 310 310 232 Average SP/LP 94 99 100 99 94 97 Keala O Wailea Keala O Wailea Condos for Sale Keala O Wailea Q2 2023 2022 2021 2020 2019 2018 Sales 1 4 12 9 13 77 Volume $2,400,000 $847,000 $23,053,000 $12,695,000 $18,859,000 $95,538,057 Low SP $2,400,000 $1,445,000 $1,280,000 $1,225,000 $1,060,000 $739,900 High SP $2,400,000 $2,727,000 $2,550,000 $1,670,000 $2,450,000 $2,300,000 Median SP $2,400,000 $2,162,500 $1,762,500 $1,415,000 $1,349,000 $1,149,900 Average SP $2,400,000 $2,124,250 $1,921,083 $1,410,556 $1,450,692 $1,240,754 Average SP/Sq. Ft $1,923 $1,593 $1,278 $1,094 $1,050 $887 Average DOM 35 65 128 155 121 763 Average SP/LP 100 103 98 97 98 100 Makali'i Makalii Condos for sale Makalii Q2 2023 2022 2021 2020 2019 2018 Sales 3 5 71 14 0 0 Volume $9,195,000 $14,110,000 $132,792,000 $21,094,000 $0 $0 Low SP $2,700,000 $1,750,000 $1,015,000 $1,250,000 NA NA High SP $3,400,000 $3,300,000 $3,200,000 $1,950,000 NA NA Median SP $3,095,000 $2,990,000 $1,812,000 $1,498,000 NA NA Average SP $3,065,000 $2,822,000 $1,870,310 $1,506,714 NA NA Average SP/Sq. Ft $1,784 $1,647 $1,113 $923 NA NA Average DOM 116 327 1170 1283 NA NA Average SP/LP 95 100 100 100 NA NA Makalii is a new development that launched in 2020 with presales beginning years prior. As such, days on market include build time and developer sales sell at 100 of asking Makena Golf & Beach Club Makena Golf & Beach Club Condos for Sale Makena Golf & Beach Club Q2 2023 2022 2021 2020 2019 2018 Sales 0 3 2 13 8 0 Volume $0 $26,806,000 $23,027,000 $91,931,000 $79,848,000 $0 Low SP NA $6,350,000 $10,527,000 $4,950,000 $9,037,000 NA High SP NA $11,256,000 $12,500,000 $15,400,000 $10,886,000 NA Median SP NA $9,200,000 $11,513,500 $7,044,000 $9,651,000 NA Average SP NA $8,953,333 $11,513,500 $7,071,615 $9,981,000 NA Average SP/Sq. Ft NA $1,995 $3,175 $1,929 $2,921 NA Average DOM NA 160 84 1071 1096 NA Average SP/LP NA 100 98 100 100 NA < Makena Surf Makena Surf Condos for Sale Makena Surf Q2 2023 2022 2021 2020 2019 2018 Sales 0 5 8 5 2 6 Volume $0 $24,000,000 $27,495,000 $16,724,990 $4,848,000 $15,110,000 Low SP NA $3,800,000 $2,735,000 $2,350,000 $2,298,000 $1,900,000 High SP NA $5,500,000 $4,000,000 $5,999,990 $2,550,000 $3,600,000 Median SP NA $5,200,000 $3,600,000 $2,850,000 $2,424,000 $2,450,000 Average SP NA $4,800,000 $3,436,875 $3,344,998 $2,424,000 $2,518,333 Average SP/Sq. Ft NA $3,538 $2,439 $1,878 $1,800 $1,963 Average DOM NA 117 114 190 53 161 Average SP/LP NA 95 97 95 101 93 Na Hale O Makena Na Hale O Makena Condos for Sale Na Hale O Makena Q2 2023 2022 2021 2020 2019 2018 Sales 1 4 6 1 2 3 Volume $2,550,000 $13,400,000 $11,627,790 $1,413,750 $2,975,000 $4,697,750 Low SP $2,550,000 $2,600,000 $1,500,000 $1,413,750 $1,325,000 $1,250,000 High SP $2,550,000 $3,550,000 $2,543,790 $1,413,750 $1,650,000 $1,850,000 Median SP $2,550,000 $3,400,000 $1,867,000 $1,413,750 $1,487,500 $1,597,750 Average SP $2,550,000 $3,350,000 $1,937,965 $1,413,750 $1,487,500 $1,565,917 Average SP/Sq. Ft $1,205 $1,288 $914 $668 $708 $673 Average DOM 36 129 136 107 250 150 Average SP/LP 94 96 98 98 87 98 Palms I at Wailea Palms I at Wailea Condos for Sale Palms at Wailea Q2 2023 2022 2021 2020 2019 2018 Sales 4 18 16 15 7 15 Volume $6,581,000 $24,834,000 $15,698,000 $12,349,350 $5,765,001 $12,196,800 Low SP $1,381,000 $985,000 $720,000 $690,000 $686,000 $680,000 High SP $1,950,000 $1,575,000 $1,230,000 $1,400,000 $950,000 $1,288,800 Median SP $1,625,000 $1,400,000 $932,500 $795,000 $875,000 $835,000 Average SP $1,645,250 $1,379,667 $981,125 $823,290 $823,572 $871,200 Average SP/Sq. Ft $1,336 $1,197 $863 $731 $736 $767 Average DOM 60 73 129 175 136 224 Average SP/LP 100 100 100 100 100 100 Palms II at Wailea (Wailea Palms) Wailea Palms Condos for Sale Wailea Palms Q2 2023 2022 2021 2020 2019 2018 Sales 2 8 10 5 10 6 Volume $3,683,500 $14,225,000 $11,567,000 $4,299,000 $10,639,100 $4,860,000 Low SP $1,632,500 $1,500,000 $835,000 $725,000 $800,000 $725,000 High SP $2,050,000 $2,550,000 $1,650,000 $1,125,000 $1,600,000 $1,050,000 Median SP $1,841,250 $1,707,500 $1,162,500 $820,000 $990,000 $772,500 Average SP $1,841,250 $1,778,125 $1,156,700 $859,800 $1,063,910 $810,000 Average SP/Sq. Ft $1,341 $1,348 $950 $759 $820 $636 Average DOM 129 65 112 98 100 125 Average SP/LP 99 100 98 98 95 95 Papali Wailea Papali Wailea Condos for Sale Papali Q2 2023 2022 2021 2020 2019 2018 Sales 0 0 4 1 0 1 Volume $0 $0 $16,170,000 $2,600,000 $0 $3,381,000 Low SP NA NA $3,795,000 $2,600,000 NA $3,381,000 High SP NA NA $4,400,000 $2,600,000 NA $3,381,000 Median SP NA NA $3,978,500 $2,600,000 NA $3,381,000 Average SP NA NA $4,042,500 $2,600,000 NA $3,381,000 Average SP/Sq. Ft NA NA $1,694 $1,090 NA $795 Average DOM NA NA 93 609 NA 79 Average SP/LP NA NA 100 87 NA 100 Polo Beach Club Polo Beach Club Condos for Sale Polo Beach Club Q2 2023 2022 2021 2020 2019 2018 Sales 0 2 6 2 3 0 Volume $0 $8,599,808 $20,155,000 $5,157,500 $7,825,000 $0 Low SP NA $3,999,808 $2,200,000 $2,575,000 $2,175,000 NA High SP NA $4,600,000 $4,675,000 $2,600,000 $3,400,000 NA Median SP NA $4,299,904 $3,365,000 $2,587,500 $2,940,000 NA Average SP NA $4,299,904 $3,359,167 $2,587,500 $2,608,333 NA Average SP/Sq. Ft NA $3,547 $2,696 $1,959 $2,134 NA Average DOM NA 61 72 102 167 NA Average SP/LP NA 99 97 99 97 NA Wailea Beach Villas Wailea Beach Villas Condos for Sale Wailea Beach Villas Q2 2023 2022 2021 2020 2019 2018 Sales 0 5 13 5 1 12 Volume $0 $41,225,000 $78,725,000 $19,944,000 $4,600,000 $55,626,500 Low SP NA $4,550,000 $2,845,000 $2,500,000 $4,600,000 $2,185,000 High SP NA $12,000,000 $14,000,000 $6,895,000 $4,600,000 $10,000,000 Median SP NA $7,800,000 $5,100,000 $3,900,000 $4,600,000 $3,925,250 Average SP NA $8,245,000 $6,055,769 $3,988,800 $4,600,000 $4,635,542 Average SP/Sq. Ft NA $3,160 $2,363 $1,534 $2,110 $1,831 Average DOM NA 76 137 181 336 177 Average SP/LP NA 99 98 94 94 98 Wailea Ekahi Wailea Ekahi Condos for Sale Wailea Ekahi Q2 2023 2022 2021 2020 2019 2018 Sales 6 17 27 18 23 17 Volume $10,570,427 $26,108,750 $31,861,512 $20,185,000 $2,725,700 $19,779,000 Low SP $1,436,627 $650,000 $647,000 $690,000 $650,000 $675,000 High SP $2,300,000 $2,070,000 $2,200,000 $2,750,000 $2,350,000 $2,195,000 Median SP $1,654,400 $1,575,000 $1,070,000 $974,500 $1,020,000 $1,025,000 Average SP $1,761,738 $1,535,809 $1,180,056 $1,221,389 $1,185,087 $1,163,471 Average SP/Sq. Ft $1,962 $1,687 $1,290 $1,147 $1,136 $1,140 Average DOM 110 75 91 154 213 154 Average SP/LP 98 100 98 95 96 94 Wailea Ekolu Wailea Ekolu Condos for Sale Wailea Ekolu Q2 2023 2022 2021 2020 2019 2018 Sales 6 11 14 6 12 10 Volume $11,449,500 $18,650,000 $16,403,000 $5,729,999 $12,062,000 $8,315,900 Low SP $1,542,000 $1,105,000 $899,000 $720,000 $645,000 $626,000 High SP $2,362,500 $2,295,000 $1,525,000 $1,100,000 $1,300,000 $1,057,500 Median SP $1,887,500 $1,700,000 $1,172,500 $1,012,500 $1,035,000 $798,500 Average SP $1,908,250 $1,695,455 $171,643 $955,000 $1,005,167 $831,590 Average SP/Sq. Ft $1,801 $1,735 $1,140 $929 $951 $781 Average DOM 110 74 74 90 86 155 Average SP/LP 98 102 101 96 97 98 Wailea Elua Wailea Elua Condos for Sale Wailea Elua Q2 2023 2022 2021 2020 2019 2018 Sales 1 3 11 2 4 10 Volume $2,800,000 $9,851,000 $29,100,000 $7,415,000 $7,030,000 $20,130,000 Low SP $2,800,000 $2,700,000 $1,550,000 $3,615,000 $1,500,000 $1,245,000 High SP $2,800,000 $4,201,000 $4,350,000 $3,800,000 $1,945,000 $3,800,000 Median SP $2,800,000 $2,950,000 $2,200,000 $3,707,500 $1,792,500 $1,670,000 Average SP $2,800,000 $3,283,667 $2,645,455 $3,707,500 $1,757,500 $2,013,000 Average SP/Sq. Ft $3,143 $2,812 $2,043 $2,945 $1,558 $1,526 Average DOM 116 91 104 144 93 258 Average SP/LP 97 103 101 95 98 94 Wailea Fairway Villas Wailea Fairway Villas Condos for Sale Wailea Fairway Villas Q2 2023 2022 2021 2020 2019 2018 Sales 4 11 26 8 9 16 Volume $5,848,022 $12,878,001 $24,430,500 $6,376,000 $6,912,000 $11,374,000 Low SP $1,095,000 $925,000 $725,000 $715,000 $599,000 $589,000 High SP $1,900,000 $1,495,000 $1,450,000 $1,090,000 $1,195,000 $910,000 Median SP $1,426,511 $1,150,000 $890,000 $767,000 $725,000 $720,000 Average SP $1,462,066 $1,170,727 $939,635 $797,000 $768,000 $710,875 Average SP/Sq. Ft $1,132 $1,177 $866 $772 $721 $695 Average DOM 96 94 76 201 200 141 Average SP/LP 97 99 99 97 98 98 Wailea Point Wailea Point Condos for Sale Wailea Point Q2 2023 2022 2021 2020 2019 2018 Sales 2 5 17 14 5 10 Volume $10,937,500 $23,110,000 $87,568,000 $48,840,331 $15,040,000 $28,650,888 Low SP $5,162,500 $2,075,000 $375,000* $1,525,000 $1,740,000 $275,000* High SP $5,775,000 $6,785,000 $16,000,000 $7,500,000 $5,400,000 $4,100,888 Median SP $5,468,750 $4,450,000 $5,000,000 $2,716,250 $2,650,000 $3,200,000 Average SP $5,468,750 $4,622,000 $5,151,059 $3,488,595 $3,008,000 $2,865,089 Average SP/Sq. Ft $2,983 $2,239 $1,945 $1,619 $1,582 $1,461 Average DOM 151 80 169 174 140 130 Average SP/LP 93 97 97 95 94 93 *Sale of a garage Wailea Town Center Wailea Town Center Condos for Sale Wailea Town Center Q2 2023 2022 2021 2020 2019 2018 Sales 0 0 2 0 0 1 Volume $0 $0 $3,390,000 $0 $0 $1,550,000 Low SP NA NA $1,690,000 NA NA $1,550,000 High SP NA NA $3,390,000 NA NA $1,550,000 Median SP NA NA $1,695,000 NA NA $1,550,000 Average SP NA NA $1,695,000 NA NA $1,550,000 Average SP/Sq. Ft NA NA $968 NA NA $812 Average DOM NA NA 71 NA NA 167 Average SP/LP NA NA 104 NA NA 97 If you are thinking of buying or selling in Wailea or Makena, please contact Courtney M. Brown for more detailed information on the market at each of these Wailea and Makena 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.

Maui Real Estate Statistics: September 2022

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Fri, 07 Oct 2022 16:44:00 -1000

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. The report notes "New Listings decreased 39.3 percent for Single Family homes and 52.7 percent for Condominium homes.Pending Sales decreased 30.7 percent for Single Family homes and 36.0 percent for Condominium homes.Inventory increased 7.8 percent for Single Family homes and 9.7 percent for Condominium homes.Median Sales Price increased 3.0 percent to $1,025,000 for Single Family homes and 9.7 percent to $800,000 for Condominium homes. Days on Market increased 10.7 percent for Single Family homes but decreased 31.5 percent for Condominium homes. Months Supply of Inventory increased 45.0 percent for Single Family homes and 50.0 percent for Condominium homes. Affordability challenges have priced many buyers out of the market this year, and buyers who do succeed in purchasing a home are finding that the costs of homeownership have increased significantly, with monthly mortgage payments more than 55 higher than a year ago, according to the National Association of REALTORS®. Inventory remains lower than normal, and as the market continue to shift, experts project homes will begin to spend more days on market and price growth will slow in the months ahead." It seems as if the frenzy of 2021 is behind us, though locations with great views in excellent condition are still commanding the interest of buyers. The South Maui resorts of Wailea and Makena continue to command the highest condominium sales prices, though the Montage Residences, Kapalua Bay are not far behind. MAUI HOMES: ACTIVE LISTINGS, PENDING SALES, AND SALES* Active Listings: 221 homes from $590,000 in Upcountry Maui to $35,000,000 for an oceanfront home for sale in MakenaPending: 137 homes from $390,000 Leasehold in Kula to $35,000,000 for an estate in One Palau'ea Bay in MakenaSold: 788 homes from $230,000 in Wailuku to $26,490,000 for an estate across the street from the water in Makena. This compares with 2021 where the high sale was $78,000,000, paid by Jeff Bezos in an off market deal which is reported to also include corporate holdings. Prior to that, the high sale for 2021 was $45,000,000 for a home at Keawakapu Beach. MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings:143 condos listed from $285,000 to $18,000,000 for a Wailea PointPending: 212 condos pending, ranging from $225,000 to $5,400,000 at PuamanaSold: 1267 condos sold, ranging from $67,500 Leasehold to $12,000,000 for a Wailea Beach Villa MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings: 98 parcels from $25,000 in Wailuku to $75,000,000 for over 3546 acres for Hana RanchPending: 49 lots from $299,000 in Hana to $16,850,000 for over 3000 acres of ranch land in KaupoSold: 147 lots from to $155,000 in Wailuku to $12,000,000 for a multi-acre parcel development in South Maui. *Molokai and Lanai are not included in the above summaries, although they are a part of Maui County. This data is taken from the MLS on on the date of this post, 10/7/2022. Read the full report and see how it compares to prior years here: Maui Real Estate Statistics

Maui Real Estate Statistics: September 2021

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Fri, 15 Oct 2021 13:01:00 -1000

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. Along with the rest of the country, Maui's real estate market has been far more active than last year during the pandemic. The report notes "Nationwide, existing home sales were down slightly in August, falling 2after two consecutive months of increases, according to the National Association of REALTORS®. The decline in existing home sales coincides with rising sales prices, which have continued to soar into fall, with the median sales price of existing homes up 14.9 compared to last year. Declining affordability has had a signiﬁcant impact on homebuyers, many of whom have been priced out of the market and are choosing to wait for sales prices to ease before resuming their home search. New Listings decreased 9.8 percent for Single Family homes and 29.2 percent for Condominium homes. Pending Sales decreased 4.3 percent for Single Family homes but increased 5.7 percent for Condominium homes. Inventory decreased 44.3 percent for Single Family homes and 82.3 percent for Condominium homes. Median Sales Price increased 27.3 percent to $996,500 for Single Family homes and 46.6 percent to $729,125 for Condominium homes. Days on Market decreased 14.9 percent for Single Family homes and 6.9 percent for Condominium homes. Months Supply of Inventory decreased 57.1 percent for Single Family homes and 90.8 percent for Condominium homes. There are signs the market may be shifting, however. New listings have continued to hit the market, bucking seasonality trends commonly seen in the fall, a time when listing and sales activity typically slows as children return to school. As inventory increases, competition for homes may soften, and could even bring a moderation in sales prices, which, after 114 months of year-over-year gains, would be music to the ears of homebuyers throughout the country." As of the date of this post, October 15, 2021: MAUI HOMES: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings: 184 homes from $549,000 in Wailuku to $26,000,000 for an oceanfront home for sale in MakenaPending: 213 homes from $294,900 in Lahaina to $12,900,000 for a home across the street from the ocean in MakenaSold: 1,045 homes from $220,000 to $45,000,000 (the highest sale recorded on Maui for a single-family home at Keawakapu Beach) MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings:135 condos listed from $179,000 Leasehold to $5,995,000 for a condominium at the Montage Residences Kapalua BayPending: 302 condos pending, ranging from $151,000 to $17,770,000 at Wailea PointSold: 1,869 condos sold, ranging from $75,000 Leasehold to $14,000,000 for a Wailea Beach Villas condominium MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES Active Listings: 103 lots from $155,000 in Wailuku to $16,850,000 for over 3000 acres of ranch land in KaupoPending: 58 lots from $170,000 in Nahiku to $7,500,000 for 464 acres in KulaSold: 299 lots from to $38,000 to $14,000,000 for Piiholo Ranch in Upcountry Maui The days on market is down for all categories. Land sales tend to lag behind condos and homes, as it doesn't allow immediate use and enjoyment and the building process does take time. However, land sales are now up 55 over the same period last year. As home prices have soared (median price up 46.6) and inventory decreased, many buyers look toward building as an option. *Molokai and Lanai are not included in the above summaries, although they are a part of Maui County. Read the full report and see how it compares to prior years here: Maui Real Estate Statistics

Maui Oceanfront Market Update: January 2020

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Mon, 27 Jan 2020 12:57:00 -1000

MAUI OCEANFRONT HOMESMarket Update, January 2020 View Goals 1437 Front Street is an oceanfront home for sale in the heart of Lahaina, on historic front streetView More Information Maui has several areas with oceanfront homes: West Maui, South Maui, North Shore, East Maui and Central Maui. As you will see below, the home prices and activity tend to be highest in the resort areas of West and South Maui, and along the North Shore. There are broad fluctuations in price depending on whether the property is beachfront or oceanfront; whether it is on a rocky shoreline or cliffside without water access; and the age, condition and size of the home. Over the past five years, oceanfront home sales have consistently seen a volume of around 20/year, with a low of 13 sales in 2015, and a high of 25 sales in 2017. Comparing 2019 with 2018, it's noteworthy that the number of sales is down 30 and the sales volume down 57. Please note the 2019 statistics no longer include 6 sales in the Makena Resort by Discovery Land Co. that were reclassified in our MLS from Beachfront to Across the Street from the Ocean on 12/13/2019. This removed $60,162,136 million from the oceanfront home sales statistics that were previously posted in the blog post on 11/30/2019. That inventory had increased the average Days on Markets stat as escrow could only close when construction was complete. In addition, the average Sales Price and SP/Sq. Ft. dropped. It is also worth noting that oceanfront homes are selling at a lower percentage of the asking price than the prior year as well as with a longer average days on market. This can mean great opportunities for buyers of oceanfront properties as the inventory has built considerably, with approximately 3 years worth of inventory. We are already starting to see more pending escrows with 8 homes pending now vs. 4 in 11/2019. It is interesting to note that all but one of the pending sales is under $5,000,000, with a high sale pending at $10,880,000. Maui Oceanfront Home Sales: Key Metrics2014 to Present Year Sales Volume Avg SP Avg SP$/sq. ft. Avg DOM SP/LP 2014 21 $90,443,000 $4,306,810 $1504 287 91 2015 13 | -62 $55,075,000 |-64 $4,235,538 | -2 $1793 | 16 214 | -34 93 2016 22 | 41 $139,062,000 | 60 $6,321,000 | 33 $2878 | 38 219 | 2 84 2017 25 | 12 $146,765,387 | 5 $5,870,615 | -8 $1533 | -88 274 | 20 92 2018 23 | -9 $148,197,545 | 1 $6,443,372 | 9 $1759 | 13 222 | -23 91 2019 16 | -30 $64,454,049 | -57 $4,028,378 | -37 $1288 | -27 285 | 28 88 Maui Oceanfront Homes: Market Snapshot by AreaActive Listings, Pending Sales and YTD Sales Oceanfront Homes All Maui West Maui South Maui North Shore East Maui Central Maui Active Listings 48 15 14 12 6 1 Low List Price $750,000 $2,200,000 $3,298,000 $999,000 $750,000 $1,900,000 Average List Price $8,140,937 $10,882,000 $11,259,571 $4,390,833 $2,551,833 $1,900,000 High List Price $37,500,000 $37,500,000 $27,498,000 $12,000,000 $6,500,000 $1,900,000 Average LP/Sq. Ft. $2408 $2889 $3,469 $1178 NA NA Pending Sales 8 3 1 4 0 0 Average List Price $3,671,237 $5,558,333 $3,350,000 $2,336,225 0 0 Supply of Inventory* 36 months 45 months 42 months 48 months NA NA 2020 YTD Sales 0 NA NA NA NA NA There is often a misperception that we see more sales in the Wailea/Makena Market. What is important to note is that there are far fewer oceanfront homes in resort areas in West Maui than in Wailea/Makena. For example, there are only 6 oceanfront homesites in Kaanapali's only oceanfront residential neighborhood, Kai Ala Place. Similarly, there are just five oceanfront homesites in Kapalua Place, Kapalua's only oceanfront residential neighborhood. Wailea/Makena are larger-scale resorts, with more oceanfront residential communities such as Keawekapu Beach, Maluhia, Makena Place, the Makena Beach Cottages, and Black Sands, as well as homes scattered along the Makena Coastline that aren't part of a formal subdivision. Kihei's Halama Street is also a popular area with beachfront homes stretching along the shoreline. The highest-priced listing on the island is located in the Kapalua Resort: 9 Bay Drive is an 8B/8.5 acre estate situated on 9.97 acres. It is currently offered at $37,500,000, reduced from $49,000,000. The highest asking price in South Maui is $27,498,000. These compare with a high sales price of $27,000,000 for an oceanfront estate in 2011 in Makena. 7150 Makena Road is a 4B/5.5B home on 1.69 acres. To date, the largest sale on Maui for a private residence that was actually across the street from the ocean, in Keauhou, Makena $41,750,000 in 2015 (not in MLS) . It should be noted--with such a small sampling, the statistics can vary widely at any given time, and the above are MLS statistics. Additional properties have changed hands privately and are not entered in MLS. For more information on all areas of Maui read: Maui Real Estate Statistics. View Current Home Listings: Oceanfront, Beachfront and Across the Street from the Ocean This information is provided by the Realtor's Association of Maui. It is believed accurate, but subject to change. Readers are advised to do their own due diligence.

Maui Real Estate Statistics: September, 2017

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Mon, 16 Oct 2017 15:24:00 -1000

MAUI REAL ESTATE STATISTICS: Jan-Sept 2017 vs. Jan-Sept 2016 THE CONDO AND HOME MARKETS | Key Metrics KEY METRICS New Listings Pending Sold DOM Med SP Avg SP Homes +10 +14 +3 -10 +10 +8 Condos -4 +15 +7 -6 +8 +7 Comparing key metrics through September 2017 Year Over Year with 2016: While there are more new home listings, there were fewer new condo listings through Sept. 2017. Other key indicators show increases in Pending Sales, Number of Sales, Median Sales Prices, and Average Sales Prices, while Days on Market till closing is down. Our busy season begins in Mid Nov, tends to quiet down first two weeks of December, and then remains active through till end of spring. Below are Resort Market Comparisons showing Average and Median Sales Prices for Condos, Homes and Land, as well as Sales Volume both in number of sales and total dollar amounts. For more information on all areas of Maui read: Maui Real Estate Statistics. A Resort Comparison by Area and Property Type: Average and Median Sales Prices (SP)Volume ( of Sales and $Volume) Average Sales Price Area Condos Avg SP Change Homes Avg SP Change Land Avg SP Change Wailea/Makena* $1,751,918 +25 $4,647,500 +8 $512,500 -49 Kapalua Resort** $1,817,847 -10 $2,587,500 -35 $1,032,250 -15 Kaanapali $1,082,399 -6 $2,006,514 -1 $699,000 -1.3 All MLS $678,010 +7 $1,030,054 +8 $465,424 -33 Median Sales Price Area Condos Med SP Change Homes Med SP Change Land Med SP Change Wailea/Makena* $1,150,000 +5 $2,822,500 -28 $512,500 -49 Kapalua Resort** $925,000 -3 $2,487,500 -8 $1,007,000 -15 Kaanapali $780,000 +5 $1,700,000 0 $643,500 -15 All MLS $449,500 -11 $700,000 +10 $358,000 -25 Sales Volume ( of Sales) Area Condos Sold Change Homes Sold Change Land Sold Change Wailea/Makena* 105 +33 22 +22 2 0 Kapalua Resort** 40 +54 6 -46 4 0 Kaanapali 89 -29 18 +20 12 -20 All MLS 1,048 +7 826 +3 169 +42 Sales Volume ($) Area Condos Sold Change Homes Sold Change Land Sold Change Wailea/Makena* $183,951,367 +66 $102,245,000 +32 $1,025,000 -49 Kapalua Resort** $72,713,899 +38 $36,117,250 +20 $4,129,000 -15 Kaanapali $96,333,540 -33 $15,250,000 -65 $8,028,000 -21 All MLS $710,554,268 +15 $850,824,716 +11 $78,565,682 -4 The resort market trends are also showing an upward trajectory in terms of Volume of Sales ($) for condos in the resort areas of Wailea, Makena and Kapalua, and down in Kaanapali. When looking at both condo and home sales, the volume and average/median sales prices are up in Wailea. However, while volume is up in Kapalua overall, the average and median condo and sales prices are down. Kaanapali's condo market is faring just slightly better than it's home market. Land sales often falter when home and condo sales are up, as building costs, length of time involved and isn't immediately ready for use. It should be noted--with such a small sampling, the statistics can vary widely at any given time. There is a misperception that the Wailea/Makena Market moves more inventory than the Kapalua Market, but what people often forget is the total numbers of condos and homes in each area are vastly different. Wailea/Makena are larger scale resorts, and Kapalua's master plan is for far less density. Surprisingly, the percentage sold of properties YTD is remarkably the same for these two high end resorts, with 5 of total condominiums built selling in Wailea and Makena and in Kapalua. Homes and Land sold at 2 of total homesites in the Wailea/Makena Areas and 3 of total homesites in Kapalua. Area Total Condos Total Homes and Lots Wailea/Makena* 1877 1181 Kapalua Resort** 755 296 This information is provided by the Realtor's Association of Maui. It is believed accurate, but subject to change. Readers are advised to do their own due diligence.*the Wailea/Makena figures do not include the new Discovery land project**Kapalua Resort figures exclude Puna I and II. While these fall in the MLS district, they are not part of the resort. There is future development planned, so these figures do not include future development or project releases. One parcel in Plantation Estates II can be further subdivided into 8 parcels.***Total Homesites--these are original subdivision figures for both condos and home sites. Some condo and some homesites have been combined to be one property. This is not reflected in the number above.Above information on total properties is provided by Fidelity National Title and is believed to be accurate but is subject to change.

Maui Real Estate Statistics: July, 2017

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Fri, 25 Aug 2017 12:13:00 -1000

The Realtor's Association of Maui has released it's monthly report on Maui's real estate statistics for July 2017. While there are fewer properties to sell when compared with 2016 and inventory is down, the Median Sales Price is up. For more information read: Maui Real Estate Statistics. The resort market trends are also showing an upward trajectory, particularly condos in the resort areas of Wailea, Makena and Kapalua. Condo and home sales are down in Kaanapali. Home sales are also down in Kapalua, while up in Wailea. Though it should be noted--with such a small sampling, the statistics can vary widely at any given time. To put it in perspective, there are 1877 condominiums and 1181 homesites in the Wailea Resort and 219 condominiums and 65 homesites in Makena (this excludes the new Discovery Land Project, which has a proposed 1100 properties). Our MLS groups Wailea/Makena into one area. By comparison, there are fewer properties in Kapalua, which is a far lower density resort per its community plan, with 755 total condominiums and 296 homesites. Surprisingly, the percentage sold of properties YTD is remarkably the same. January-July 31, 2017 Sales by Resort Area and Type Area Condos Sold Total Condos Sold Homes Sold Land Sold Total Homesites*** Sold Wailea/Makena* 92 2096 4 21 1 1246 2 Kapalua Resort** 28 755 4 3 3 296 2 More Detailed Reports can be found below: Kapalua Condo Market Update, July 2017 Maui Resort Market Update, July 2017: Home and Condo Sales in Wailea/Makena, Kaanapali and Kapalua *the Wailea/Makena figures do not include the new Discovery land project**Kapalua Resort figures exclude Puna I and II. While these fall in the MLS district, they are not part of the resort. There is future development planned, so these figures do not include future development or project releases. One parcel in Plantation Estates II can be further subdivided into 8 parcels.***Total Homesites--these are original subdivision figures for both condos and home sites. Some condo and some homesites have been combined to be one property. This is not reflected in the number above.Information provided by Fidelity National Title and is believed to be accurate but is subject to change.

Resort Real Estate Market Update: YTD July 31, 2017

cb@luxuryrealestatemaui.com (Courtney M. Brown) — Wed, 09 Aug 2017 17:08:00 -1000

A Look at the Resort Markets as compared with the overall Maui Real Estate Market. Maui's Resort Markets of Kaanapali, Kapalua, Wailea January 1-July 31, 2017 vs. January 1- July 31, 2016 Comparing the YTD sales in the resort markets with the same period in 2016, we are seeing more condo sales in Kapalua and Wailea and Makena, while in Kaanpali, condo sales is down. Inventory is increasing in the condo markets, with the exception of Wailea, which has an absorption rate of just 9.2 months. Part of the substantial growth in the Kapalua Condominium Market can be attributed to sales at the Montage Residences Kapalua Bay with 3 sales ranging from $3.795-$6.475M (which is the highest condominium sale on record for 2017 on Maui), and Coconut Grove with 3 sales ranging from $4-$5M. As there are only 24 oceanfront condominium residences at Coconut Grove Kapalua, there was only one sale last year at $5.25M (not recorded in MLS or included in data below) and it's rare to have so many sell in one year. With the residential market, the Wailea and Makena Home market is showing tremendous growth over the other markets in terms of sales volume and number of sales. However, it should be noted that Kapalua and Kaanapali have very few oceanfront residential communities--in Kaanapali, there are just 6 beachfront homesites in the Kai Ala Place neighborhood. Similarly, in Kapalua, there are just five beachfront homesites at Kapalua Place, and then three private oceanfront peninsulas that are a part of the resort. In Kaanapali the high residential sale this year was $4.7M in Lanikeha, and in Kapalua, it was $3.55M in Pineapple Hill. Contrast that to Wailea/Makena, where there were 8 sales above 4.7M in Wailea, ranging from $4.75M to $15.5M, with half of those being ocean or beachfront homes in Wailea and Makena. It is noteworthy that in 2016, none of the residential sales in this same period were oceanfront. KAANAPALI, KAPALUA, AND WAILEA RESORT REAL ESTATE OVERVIEW: SALES VOLUME, DAYS ON MARKET AND ABSORPTION RATE (AMOUNT OF AVAILABLE INVENTORY IN MONTHS) CONDO SALES NO SOLD SALES VOLUME AVG DOM INVENTORY IN MONTHS KAANAPALI 66 | -38 $74,573,240 | -41 142 | -21.1 12.7 | +6.7 KAPALUA 30 | +43 $55,213,799 |+65 227 | -1.7 21.1 | +15.3 WAILEA/MAKENA 92 | +46 $151,464,398 | +73 184 | +2.8 9.2 | -37 MAUI 812 | +7 $564,173,732 | +17 153 | -2.5 6.7 | -23 HOME SALES NO SOLD SALES VOLUME AVG DOM INVENTORY IN MONTHS KAANAPALI 11 | -15 $21,587,130 | -13.6 253 | +21.6 16.6 | -11.7 KAPALUA 3 | -57 $7,700,000 | -59 86 | -69.1 21.4 | +109.8 WAILEA/MAKENA 21 | +110 $100,745,000 | +184.8 175 | +15.1 14.5 | -24.1 MAUI 517 | +2 $534,344,130 | +29 142 | -8.4 5.8 | -7.9 A LOOK AT THE RESORT RESIDENTIAL MARKET Kaanapali, Kapalua, and Wailea Resort Home Sales: Average Sales Price Kaanapali, Kapalua and Wailea Resort Home Sales: Average SP/Sq. Ft. A Look at the Resort Condo Market Kaanapali, Kapalua and Wailea Resort Condo Sales: Average Sales Price Kaanapali, Kapalua and Wailea Resort Condo Sales: Average Sales Price/Sq. Ft. SALES PRICE TRENDS OVER THE LAST FIVE YEARS: RESORT HOMES AND CONDOS With such a small data sample resulting in limited data points, sales of luxury homes and condominiums can increase the averages dramatically in resort areas and should be noted. However, in the last five years, we’ve seen the resort real estate market ebb and flow, with average sales prices dropping in 2013 and 2016, and rebounding in 2015 and 2017. What does this mean if you’re buying a house or condominium in one of Maui's Resort Communities? As resort markets, the real estate in Kaanapali, Kapalua and Wailea tend to be second home markets, there is often quite a bit of inventory to choose from. However, that said, properties in excellent condition (new or remodeled) and with great views and/or locations can move much more quickly than those that are dated, in need of repair, or don't have a view. The condominium market can be very appealing to a second home-owner as many allow short term rentals (defined by Maui County as any rentals under 180 days). Homes require going through a permitting process, which is not guaranteed. Read more about short term rentals of homes and condominiums. What does this mean if you’re selling a house in or condominium in one of Maui's Resort Communities? Sellers need to prepare for longer days on market than many mainland US markets. As most buyers will be looking at it as a part time residence and many don't live on island, we find sales will vary with airline travel, season and other global economic factors. As you can see from the chart at the top of the page, the resort home sector moves more slowly than that island-wide, with the lowest average absorption rate in months being for Maui homes in general. Information above is taken from the Realtor's Association of Maui MLS system and is deemed reliable, but should not be