Market Spotlight: Montage Residences Kapalua Bay

Posted by Courtney M. Brown on Tuesday, September 28th, 2021 at 1:29pm.

Montage Residences Kapalua Bay: Condominium Listings and Sales
Market Overview September 2021

Montage Kapalua Bay

Montage Residences at Kapalua Bay
Whole Ownership Condominium Residences

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 20 Residences to sell at the Montage Kapalua Bay, averaging $4.022M and a Year to Date volume of $80,433,533 with another $15,270,000 in pending sales in MLS.  This represents a dramatic 178% increase over 2020's total sales volume ($) and a 72% 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:

Current Listings 4
Low LP $3,525,000
High LP $5,995,000
Average LP $4,205,000
Average LP/Sq. Ft. $1482
Average DOM 434

Montage Kapalua Bay Pending Sales

Current Listings 2
Volume $15,270,000
Low LP $6,975,000
High LP $8,295,000
Average LP $7,635,000
Average LP/Sq. Ft. $2738
Average DOM 227

Montage Kapalua Bay Sales

View Montage Residences Kapalua Bay Recent Sales

Montage Residences  2021 YTD 2020 2019 2018 2017 2016 2015 2014
Sales 20 9 21 12  12 9 9 8
Volume $80,433,533 $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 $4,021,676 $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 $1,519 $1,407 $1,566 $1572  $1,582 $1,516 $1,609 $1,735
Average DOM 160 169 172 229 100 147 168 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 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. 

We are also starting to see resales in building 1 reach new record highs, with three sales and two pending over $6 milion

Status Unit List Price Sold Price Date Beds Baths Sq. Ft. DOM $/SQFT MLS 
PNDS 1205 $6,975,000       3 3.5 2,789 428 $2,501 387915
PNDS 1305 $8,295,000     3 3.5 2,789 27 $2,974 392838
SLD 1505 $6,700,000 $6,475,000   6/7/17 3 3.5 2,789 55 $2,322 374387
SLD 1405 $7,875,000 $7,250,000 6/14/19 3 3.5 2,789 137 $2,600 381518
SLD 2403 $6,100,000 $6,100,000 3/9/21 3 3.5 2,904 106 $2,101 389402

View Current Montage Kapalua Residences for Sale:

 

9 Properties Found. Page 1 of 1

The Montage Residences Kapalua Bay Is Nestled A...

Photo of Listing #401006

$7,375,000 Active Fee Simple

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

Residential

1 Bay Dr, Unit 2504, Kapalua, HI

MLS® #401006

Listed By: Island Sotheby's Int'l Rlty(L)
Office Contact: Cell: 808-250-0210

The Montage Residences Kapalua Bay Is Nestled Along The Shoreline Overlooking One Of Maui’s Most Popular Beaches, Kapalua Bay. This Stunning Condominium Residence Enjoys A Desirable Upper-level Location That Opens To Panoramic Ocean Views Of The Pacific Oc...

This Oceanfront Penthouse Occupies A Prime Loca...

Photo of Listing #400821

$11,295,000 Active Fee Simple

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

Residential

1 Bay Dr, Unit 1502, Kapalua, HI

MLS® #400821

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

This Oceanfront Penthouse Occupies A Prime Location At Montage Kapalua Bay, Offering Breathtaking, Unobstructed Views Of The Sparkling, Sapphire Blue Waters Of The Pacific Ocean, And The Islands Of Lana'i And Moloka'i. Enjoy Kapalua’s Best With Picturesque ...

Montage Grand Residence Penthouse Ocean Front. ...

Photo of Listing #400786

$10,975,000 Active Fee Simple

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

Residential

1 Bay Dr, Unit 1604, Kapalua, HI

MLS® #400786

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

Montage Grand Residence Penthouse Ocean Front. Perched On The Top Floor With Unparalleled Views Of The Island Of Mokokai. Home Features 3 Bedrooms 3.5 Baths And And 2789 Square Foot Living Space. Turn Key Ready And Fully Furnished This Is Rare Opportunity...

Introducing One Of The Rarest Units In One Of H...

Photo of Listing #400699

$5,750,000 Active Fee Simple

  • 2 Beds
  • Baths
  • 21 Acres
  • 1,774 ft²

Residential

1 Bay Dr, Unit 3704, Kapalua, HI

MLS® #400699

Listed By: Island Sotheby's Int'l Rlty(W)
Office Contact: Cell: 808-283-7965

Introducing One Of The Rarest Units In One Of Hawaii’s Most Sought-after Luxury Resorts: Montage Residences Kapalua Bay 3704. The Awe-inspiring 2 Bedroom / 2.5 Bathroom Luxury Unit Is On The Penthouse Level, To Ensure A Maximum Level Of Privacy And Unrivale...

Welcome To The Montage Residences Kapalua Bay, ...

Photo of Listing #400675

$8,900,000 Active Fee Simple

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

Residential

1 Bay Dr, Unit 1302, Kapalua, HI

MLS® #400675

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-344-2677

Welcome To The Montage Residences Kapalua Bay, Unit 1302! This Grand Residence 3-bedroom, Den, 3.5 Bathroom Property Is One Of The Most Desirable Residences Within The Montage Community Because Of Its Direct-front Row Location. Its 3rd Floor Location Offers...

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...

Introducing A Rare Opportunity To Own A Direct ...

Photo of Listing #400337

$12,950,000 Pending Fee Simple

  • 4 Beds
  • Baths
  • 21 Acres
  • 4,055 ft²

Residential

1 Bay Dr, Unit 2201, Kapalua, HI

MLS® #400337

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

Introducing A Rare Opportunity To Own A Direct Oceanfront Montage Residence At Kapalua Bay, Maui. This Exquisite 4-bedroom, 4.5-bath Residence Is One Of Only 8 Four-bedrooms On The Property, Offering A Unique Blend Of Luxury, Comfort, And Natural Beauty. B...

Welcome To A Life Of Unparalleled Beauty, Tranq...

REDUCED 3% Photo of Listing #399525

$4,250,000 Active Fee Simple

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

Residential

1 Bay Dr, Unit 5104, Kapalua, HI

MLS® #399525

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

Welcome To A Life Of Unparalleled Beauty, Tranquility, And Elegance At Montage Residences Kapalua Bay, Where Residence 5104 Invites You To Experience The Ultimate Blend Of Indoor-outdoor Living, Captivating Gardens, And The Unique Allure Of Maui's West Coas...

4201 Montage, Kapalua Bay Is A Beautifully Appo...

Photo of Listing #399361

$4,295,000 Pending Fee Simple

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

Residential

1 Bay Dr, Unit 4201, Kapalua, HI

MLS® #399361

Listed By: Maui Resort Realty
Office Contact: richard@mauiresortrealty.com

4201 Montage, Kapalua Bay Is A Beautifully Appointed 3 Bedroom 3.5 Bath Residence With Breathtaking Ocean-views From The Living Room, kitchen And Both Master Suites.   offered Fully Furnished And Featuring High-end Touches Throughout Set Just Above The Imma...

*Statistics above are at the time of this post per MLS.  Any interested party should do their own due diligence as the information is subject to change.

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

 

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