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:

 

8 Properties Found. Page 1 of 1

Oceanfront Building 1 Location At Montage Resid...

NEW Photo of Listing #393777

$7,399,000 Pending - Cont. To Show Fee Simple

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

Condominium

1 Bay Dr 1302, Kapalua, Hawaii

MLS® #393777

Listed By: Compass

Oceanfront Building 1 Location 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 Mo...

Rare Top Floor Penthouse At Montage Residences ...

NEW Photo of Listing #393779

$5,300,000 Pending - Cont. To Show 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...

Rare Top Floor Penthouse Location At Montage Re...

NEW Photo of Listing #393780

$5,100,000 Pending - Cont. To Show Fee Simple

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

Condominium

1 Bay Dr 4501, Kapalua, Hawaii

MLS® #393780

Listed By: Compass

Rare Top Floor Penthouse Location 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 ...

Welcome Home To Oceanfront Resort Living At Its...

Photo of Listing #393614

$13,295,000 Pending - Cont. To Show Fee Simple

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

Condominium

1 Bay Dr 1301, Kapalua, Hawaii

MLS® #393614

Listed By: Compass

Welcome Home To Oceanfront Resort Living At Its Finest. This Spectacular 4-bedroom, 4.5 Bathroom Luxury Residence Offers A Prime Front Row Location And Unobstructed Views Of Maui's World Famous Sunsets All Year Round. Residence 1301 At Montage Kapalua Bay I...

Montage Residences Kapalua Bay. A Truly One-of-...

Photo of Listing #393561

$3,995,000 Active Fee Simple

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

Condominium

1 Bay Dr 4201, Kapalua, Hawaii

MLS® #393561

Listed By: Compass

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 And Lanai. Located Within Th...

Highly Desirable Montage Grand Residence Locate...

Photo of Listing #393468

$3,575,000 Active 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...

*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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