Market Spotlight: Montage Residences, Kapalua Bay

Posted by Courtney M. Brown on Thursday, December 16th, 2021 at 5:50pm.

Market Spotlight: Montage Residences Kapalua Bay

Montage Kapalua Bay Condos for Sale

Since being rebranded the Montage Residence Kapalua Bay in 2014, sales at the property have soared and 2021 is no exception. 

When originally developed as a Ritz-Carlton Club and Residences in 2008, the property was comprised of 84 wholly-owned three and four-bedroom residences, some of the largest condominiums available in West Maui.  These residences are known as the Grand Residences, and are located in buildings 1, 2, 5 and 6, have three and four bedrooms, and ranged from 2,789 to 4,055 sq. ft. 

The development also included 62 smaller two and three-bedroom residences that were offered as 1/12 ownership located in buildings 3 and 4.  When rebranded as the Montage Residences, all developer fractional sales were halted and 28 units were converted to whole-ownership residences, now known as the Hotel Residences

As an overview, when sales at the property first launched in 2009, the market was at a downturn after it's 2007/2008 peak. The average low for the Kapalua Resort real estate market took place in 2012.  

To give you a better sense of how significantly the market has changed, between 2009-2011 there were 14 sales averaging approximately $3.83M, with a total sales volume of $53,747,552.  The foreclosure took place in 2011, and sales ceased while improvements were made property-wide. 

When sales began again, the building 1 which is oceanfront, saw the bulk of the activity, followed by buildings 5 (particularly upper floors) and 2.  In 2019, the developer began sales of 15 of the smaller three-bedroom residences (approximately 2,000 +/- sq. ft.) in buildings 3 and 4, as well as the remaining inventory of larger residences in building 6.

As of the date of this post, there have been 26 Residences to sell at the Montage Kapalua Bay, averaging $4.437M and a Year to Date volume of $115,383,533 with another $13,295,000 in pending sales in MLS.  This represents a dramatic 299% increase over 2020's total sales volume ($) and a 147% increase over the sales volume when the project relaunched in 2014.  

View Current Listings of Montage Residences Kapalua Bay Condominiums

Quick Market Overview Montage Kapalua Bay Condo Listings:

ACTIVE LISTINGS 4
Volume $24,265,000
Low LP $3,525,000
High LP $8,500,000
Average LP $4,925,000
Average LP/Sq. Ft. $1,824
Average DOM 223



Montage Residences Kapalua Bay Pending Sales

PENDING SALES 1
Volume $13,295,000
Average LP/Sq. Ft. $6,618
Average DOM 38

Montage Kapalua Bay Condo Sales

View Recent Montage Residences Kapalua Bay Condo Sales

Montage Residences  2021 YTD 2020 2019 2018 2017 2016 2015 2014
Sales 26 9 21 12  12 9 9 8
Volume $115,383,533 $28,939,000 $86,445,000 $58,780,074   $54,388,000  $41,000,000  $40,770,000  $46,785,000
Low SP $2,695,000 $2,750,000 $2,400,000 $3,495,000 $3,125,000 $3,125,000 $3,950,000 $4,300,000
High SP $8,500,000 $4,159,000 $7,950,000 $8,950,000 $6,475,000 $8,650,000 $4,900,000 $8,250,000
Average SP $4,437,828 $3,215,444 $4,116,428 $4,898,339   $4,532,333 $4,555,556 $4,530,000 $5,848,125
Average SP/Sq. Ft $1,683 $1,407 $1,566 $1572  $1,582 $1,516 $1,609 $1,735
Average DOM 156 169 172 229 100 147 168 67


Comments on Montage Residences Kapalua Bay Condo Sales History (Year over Year):
It is expected that the days on market would increase in 2020 due to the quarantine that was in place for the better part of six months.  As travel resumed, so did our market, as evidenced by a large increase in volume.  It is also noteworthy that sales of the hotel residences, which are considerably smaller, began in 2019.  Sales of the hotel residences have ranged from $2,750,000 to $3,795,000. 

Low Sales
The low sales price would have been at its peak in 2014, when buyers of developer inventory were focused on the two oceanfront buildings (buildings 1 and 2) and at its lowest in 2019-2021 when the ground floor inventory in ocean view buildings (buildings 2, 5, and 6) sold, coupled with the introduction of the smaller residences Hotel Residences in buildings 3 and 4. 

High Sales
You'll also note a variation in the high sales--there are only 8 four-bedroom residences, which are located at the center of the two oceanfront buildings.  These spacious residences command the highest sales prices for both their size and prime location.   There were three four-bedroom sales in 2014, which served to also increase the average SP/Sq. Ft., one in 2016, two in 2018, one in 2019, and the last in 2021 at $8,500,000.  With a pending sale of its first four-bedroom resale, Residence 1301 listed at $13,295,000, the Montage Residences Kapalua Bay is set to break a new record sales price for West Maui's condominium sales.

We are also starting to see resales in buildings 1 and 2, as well as high floors in building 5, reach new record highs, with a three-bedroom residence recording at $8,000,000 in October of 2021.

Status Building Name Unit List Price Sold Price Close Date Beds Baths Liv-SF DOM Price Per SQFT MLS #
SLD Montage Residences Kapalua Bay 6301 $2,995,000 $2,995,000 2/4/21 3 3.5 2,904 29 $1,031 389853
SLD Montage Residences Kapalua Bay 5404 $5,990,000 $5,800,000 2/5/21 3 3.5 2,789 174 $2,080 388541
SLD Montage Residences Kapalua Bay 2403 $6,100,000 $6,100,000 3/9/21 3 3.5 2,904 106 $2,101 389402
SLD Montage Residences Kapalua Bay 4503 $3,395,000 $3,395,000 3/11/21 3 3.5 2,065 375 $1,644 382707
SLD Montage Residences Kapalua Bay 6302 $3,395,000 $3,300,000 4/6/21 3 3.5 2,789 79 $1,183 389980
SLD Montage Residences Kapalua Bay 5201 $4,590,000 $4,550,000 5/11/21 3 3.5 2,904 322 $1,567 387472
SLD Montage Residences Kapalua Bay 4405 $2,995,000 $2,995,000 5/13/21 3 3.5 2,087 378 $1,435 386881
SLD Montage Residences Kapalua Bay 5304 $5,600,000 $5,450,000 5/27/21 3 3.5 2,789 115 $1,954 390192
SLD Montage Residences Kapalua Bay 2402 $4,899,999 $4,700,000 6/17/21 3 3.5 2,904 232 $1,618 389092
SLD Montage Residences Kapalua Bay 2101 $8,500,000 $8,500,000 6/22/21 4 4.5 4,055 160 $2,096 389932
SLD Montage Residences Kapalua Bay 6102 $2,695,000 $2,695,000 7/9/21 3 3.5 2,789 64 $966 391378
SLD Montage Residences Kapalua Bay 4403 $2,950,000 $2,823,533 7/15/21 3 3.5 2,065 65 $1,367 391451
SLD Montage Residences Kapalua Bay 3301 $3,050,000 $3,050,000 7/19/21 3 3.5 2,065 29 $1,477 392360
SLD Montage Residences Kapalua Bay 5101 $4,395,000 $4,345,000 7/19/21 3 3.5 2,904 73 $1,496 391398
SLD Montage Residences Kapalua Bay 2404 $4,145,000 $4,145,000 7/30/21 3 3.5 2,789 74 $1,486 391521
SLD Montage Residences Kapalua Bay 2302 $4,198,888 $3,800,000 8/6/21 3 3.5 2,904 431 $1,309 387848
SLD Montage Residences Kapalua Bay 3203 $2,750,000 $2,750,000 8/12/21 3 3.5 2,065 30 $1,332 392615
SLD Montage Residences Kapalua Bay 4505 $3,395,000 $3,395,000 8/19/21 3 3.5 2,087 175 $1,627 390528
SLD Montage Residences Kapalua Bay 5104 $2,895,000 $2,895,000 8/24/21 3 3.5 2,789 231 $1,038 389838
SLD Montage Residences Kapalua Bay 4304 $2,750,000 $2,750,000 9/7/21 2 2.5 1,750 75 $1,571 392926
SLD Montage Residences Kapalua Bay 1205 $6,975,000 $6,200,000 9/29/21 3 3.5 2,789 429 $2,223 387915
SLD Montage Residences Kapalua Bay 1305 $8,295,000 $8,000,000 10/1/21 3 3.5 2,789 30 $2,868 392838
SLD Montage Residences Kapalua Bay 3405 $3,000,000 $3,000,000 10/6/21 3 3.5 2,087 43 $1,437 393227
SLD Montage Residences Kapalua Bay 2604 $5,995,000 $5,550,000 11/19/21 3 3.5 2,789 291 $1,990 390196
SLD Montage Residences Kapalua Bay 4501 $5,100,000 $4,775,000 12/13/21 3 3.5 2,065 23 $2,312 393780
SLD Montage Residences Kapalua Bay 1302 $7,399,000 $7,425,000 12/15/21 3 3.5 2,904 25 $2,557 393777


View Current Montage Residences Kapalua Bay Condos for Sale:

7 Properties Found. Page 1 of 1

Welcome Home To Residence 3503 At Montage Kapal...

Photo of Listing #394131

$4,895,000 Active Fee Simple

  • 3 Beds
  • Baths
  • 21 Acres
  • 2,065 ft²

Condominium

1 Bay Dr 3503, Kapalua, Hawaii

MLS® #394131

Listed By: Compass

Welcome Home To Residence 3503 At Montage Kapalua Bay! A Truly One-of-a-kind Opportunity To Own Along The West Maui Shoreline, Overlooking The White Sandy Crescent Of Kapalua Bay With Panoramic Ocean Views Framed By The Neighboring Islands Of Molokai And La...

Rare Top Floor Penthouse At Montage Residences ...

Photo of Listing #394115

$6,895,000 Pending - Cont. To Show Fee Simple

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

Condominium

1 Bay Dr 2704, Kapalua, Hawaii

MLS® #394115

Listed By: Compass

Rare Top Floor Penthouse At Montage Residences Kapalua Bay. A Truly One-of-a-kind Opportunity To Own Along The West Maui Shoreline, Overlooking The White Sandy Crescent Of Kapalua Bay With Panoramic Ocean Views Framed By The Neighboring Islands Of Molokai A...

Rarely Available: "ocean Dreams" Villa 2203 At ...

Photo of Listing #394030

$8,500,000 Active Fee Simple

  • 3 Beds
  • Baths
  • 21 Acres
  • 2,904 ft²

Condominium

1 Bay Dr 2203, Kapalua, Hawaii

MLS® #394030

Listed By: Private Paradise Villas

Rarely Available: "ocean Dreams" Villa 2203 At The Award-winning Montage At Kapalua Bay, On Maui Island. This Full-ownership Fee-simple Front-row "grand Residence" Has Panoramic Ocean Views And Features 3 Bedrooms + Den And 3.5 Baths. Located Overlooking Th...

Rare Top Floor Penthouse At Montage Residences ...

Photo of Listing #393779

$5,300,000 Active Fee Simple

  • 3 Beds
  • Baths
  • 21 Acres
  • 2,065 ft²

Condominium

1 Bay Dr 4606, Kapalua, Hawaii

MLS® #393779

Listed By: Compass

Rare Top Floor Penthouse At Montage Residences Kapalua Bay. A Truly One-of-a-kind Opportunity To Own Along The West Maui Shoreline, Overlooking The White Sandy Crescent Of Kapalua Bay With Panoramic Ocean Views Framed By The Neighboring Islands Of Molokai A...

Highly Desirable Montage Grand Residence Locate...

Photo of Listing #393468

$3,575,000 Pending - Cont. To Show Fee Simple

  • 3 Beds
  • Baths
  • 21 Acres
  • 2,904 ft²

Condominium

1 Bay Dr 5103, Kapalua, Hawaii

MLS® #393468

Listed By: Coldwell Banker Island Prop-KP

Highly Desirable Montage Grand Residence Located On The Ground Level Of Building 5 With Very Close Proximity To Kapalua Bay And The Beach Club. This Private Three-bedroom Floorplan Also Includes A Den/office/guest Room. It Has Been Enjoyed Solely As A Prima...

Relax And Enjoy The Tropical Ambiance And Unfor...

Photo of Listing #388025

$3,525,000 Active Fee Simple

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

Condominium

1 Bay Dr 2204, Kapalua, Hawaii

MLS® #388025

Listed By: Keller Williams Realty Maui-Ki

Relax And Enjoy The Tropical Ambiance And Unforgettable Mesmerizing Azure Seas Of Kapalua Bay From This Lovely 3 Bedroom, 3.5 Bath Grand Residence! Close To Beach And Pools, And Restaurants On Property. Lives Like A Home,with Over 3000 Sq Ft Under Roof Incl...

Come Home To Montage! Relax Amidst The Tranquil...

Photo of Listing #387459

$3,725,000 Active Fee Simple

  • 3 Beds
  • Baths
  • 21 Acres
  • 2,904 ft²

Condominium

1 Bay Dr 2206, Kapalua, Hawaii

MLS® #387459

Listed By: Keller Williams Realty Maui-Ki

Come Home To Montage! Relax Amidst The Tranquil Tropical Ambiance Of This Exquisite Grand Residence. 3 Substantially Large Ensuite Master And Guest Master Bedrooms, 3.5 Spacious And Luxurious Baths, Plus Den/office/guest Room, All Steps From The Mesmerizing...

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

 

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