Kapalua Condominium Sales: Market Spotlight on Coconut Grove Kapalua Bay and Montage Residences Kapalua Bay

For prospective buyers of luxury oceanfront condominium residences in Kapalua, the Coconut Grove Kapalua Bay and Montage Residences Kapalua Bay are often compared and considered for the similarity of size and their location overlooking Maui's much loved Kapalua Bay.  While both offer three bedroom and three bedroom plus den floor plans and are in similar price ranges, there are some very important differences:

For most of my clients considering these two properties, they find themselves weighing lifestyle (low rise vs. high rise, importance of onsite amenities (restaurants/bars, valet, etc), the ability to have pets, and whether having the capability of having it operate as a vacation rental when they are not in use. 

*Note: the original development was as a Ritz-Carlton Club and Residences, where there were 84 wholly owned three bedroom, three bedroom plus den and four bedroom floor plans.  Additionally 1/12th ownership interests in 62 smaller two and three bedroom fractional units were offered for sale.  After foreclosure, there were no new fractional sales and the developer still holds over 20 unbroken two and three bedroom residences which are currently dedicated hotel inventory.

**Montage Residences Owners may opt into a Spa/Beach Club membership which provides them with access to Spa Montage and the Beach Club.  For owners of any other property, including the Coconut Grove, these amenities can currently be accessed by joining the Kapalua Club, which also provides discounts on golf and tennis. Onsite amenities for Coconut Grove do include a pool, spa and fitness center.

The Coconut Grove on Kapalua Bay

View Current Coconut Grove Kapalua Bay Condos for Sale

The Coconut Grove on Kapalua Bay has been one of Maui's most desirable condominium communities due to its spectacular location and limited number of residences.  There are just 36 three bedroom condominiums in 9 buildings on 11 acres in this gated community situated directly overlooking Kapalua Bay.

The original developer sales began in 2001 and prices ranged between $1.3-1.7M for units in the ocean view buildings (units 1-12) and $1.8-2.2M for oceanfront residences (units 13-36), with interiors ranging from 2280 to 2638 sq. ft.  Since then, the highest sale on record is $5,250,000 for a private transaction that occurred in July, 2016 that is not listed in the Maui MLS.

Recent Coconut Grove Kapalua Condo Sales

Since the beginning of 2014, there have been five oceanfront residences (approximately 14% of the property) to sell at Coconut Grove:

The Montage Residences Kapalua Bay

View Current Montage Residences Kapalua Bay Condos for Sale

The Montage Residences at Kapalua Bay originally began as a Ritz-Carlton Club and Residences with sales of 84 wholly owned three and four bedroom condominium residences and 62 1/12th fractional residences beginning in 2009 through 2011.

Recent Montage Residences Kapalua Bay Condo Sales

Since becoming a Montage Residences in 2014, the new ownership has made extensive improvements to the property and the resort has been awarded five-stars by Forbes.  With the accompanying upswing in the market, we've seen record high condominium sales for West Maui, including last month's sale of a three bedroom residence at $6,475,000 and four sales of four bedroom residences ranging from $7,500,000 to $8,650,000.

Coconut Grove on Kapalua Bay and Montage Residences, Kapalua Bay
Market Snapshot: January, 2014 through July 5, 2017:

Note: the above data is from the Maui MLS and therefore is missing the sale in Coconut Grove at $5,250,000.

For more information on the Coconut Grove Kapalua Bay, the Montage Residences Kapalua Bay, or any other Kapalua Condos for Sale, please contact me.