Montage Residences Kapalua Bay: Market Update September 2019

Posted by Courtney Brown on Sunday, September 22nd, 2019 at 1:14pm.

Montage Residences Kapalua Bay: Condominium Listings and Sales
Market Overview September 2019

Montage Kapalua Bay

Montage Residences at Kapalua Bay
Whole Ownership Condominium Residences

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 located in buildings 1, 2, 5 and 6 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.  Since then, the property was re-branded in 2014 and all developer fractional sales were halted. 

Since being rebranded the Montage Residence Kapalua Bay in 2014, sales at the property have soared.  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 low for the Kapalua Resort real estate market took place after 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.  This summer, 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 16 Residences to sell at the Montage Kapalua Bay, averaging $4.53M and a Year to Date volume of $69,855,000 with another $9,240,000 in pending sales in MLS.  This represents a dramatic 19% increase over 2018's total sales volume and a 49% increase over the sales volume when the project relaunched in 2014.   It is noteworthy that 2019 also marks a year of remarkable resale activity, with prime locations with outstanding furnishings, such as Residence 1405, commanding the highest resale of a 3 Bedroom Residence in the project's history:

Residence Resales 2019 Sold Prior Sale
Montage Residences 2206 $2,400,000 $1,214,600 (2014)
Montage Residences 2204 $2,800,000 $1,333,000 (2014)
Montage Residences 2103 $4,950,000 $2,800,000 (2011)
Montage Residences 1404 $5,275,000 $4,350,000 (2016)
Montage Residences 5501 $5,535,000 $4,500,000 (2017)
Montage Residences 1102 $5,800,000 $4,785,000 (2014)
Montage Residences 1405 $7,250,000 $4,625,000 (2015)

Quick Market Overview Montage Kapalua Bay Condo Listings:

View Current Listings of Montage Residences Kapalua Bay Condominiums

Current Listings 7
Low LP $2,850,000
High LP $6,650,00
Average LP $4,147,142
Average LP/Sq. Ft. $1674
Average DOM 129

Montage Kapalua Bay Pending Sales

Current Listings 3
Volume $9,240,000
Low LP $2,850,000
High LP $3,080,000
Average LP $5,141,250
Average LP/Sq. Ft. $1233
Average DOM 95

Montage Kapalua Bay Sales

View Montage Residences Kapalua Bay Recent Sales

Montage Residences  2019 YTD 2018 2017 2016 2015 2014
Sales 16 12  12 9 9 8
Volume $69,855,000   $58,780,074   $54,388,000  $41,000,000  $40,770,000  $46,785,000 
Low SP $2,400,000 $3,495,000 $3,125,000 $3,125,000 $3,950,000 $4,300,000
High SP $7,950,000 $8,950,000 $6,475,000 $8,650,000 $4,900,000 $8,250,000
Average SP $4,365,937 $4,898,339   $4,532,333 $4,555,556 $4,530,000 $5,848,125
Average SP/Sq. Ft $1626 $1572  $1582 $1516 $1609 $1735
Average DOM 177 229 100 147 168 67

Comments on Montage Residences Kapalua Bay Condo Sales History (Year over Year):

It is to expected that the days on market would increase, as we start to see more re-sales introduced to the market in 2019.  Additionally, the low sales price would have been at it's peak in 2014, when buyers were focused on the two oceanfront buildings (buildings 1 and 2) and at its lowest in 2019 with the introduction of the 15 smaller residences in buildings 3 and 4. 

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 command the highest sales prices for both their size and 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, and one in 2019.  This is why you see lower High Sales Prices in 2015 and 2017.

View Current Montage Kapalua Residences for Sale:

 

9 Properties Found. Page 1 of 1

Relax And Enjoy The Tropical Ambiance And Unfor...

NEW Photo of Listing #384557

$4,900,000 Active Fee Simple

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

Condominium

1 Bay Dr 5201, Kapalua, Hawaii

MLS® #384557

Listed By: Coldwell Banker Island Prop(S)

Relax And Enjoy The Tropical Ambiance And Unforgettable Brilliant Turquoise Seas Of Kapalua Bay! Stunning Views From Lovely 3 Bedroom, 3.5 Bath Large Residence With A Den! Close To Beach And Pools, And Restaurants On Property! Mesmerizing,expansive,azure Oc...

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

Photo of Listing #383694

$2,850,000 Pending - Do Not Show Fee Simple

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

Condominium

1 Bay Dr 6101, Kapalua, Hawaii

MLS® #383694

Listed By: Powerplay Destination Prop HI

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...

Welcome Home To Residence 2402. A Spectacular O...

REDUCED 4% Photo of Listing #383533

$5,300,000 Active Fee Simple

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

Condominium

1 Bay Dr 2402, Kapalua, Hawaii

MLS® #383533

Listed By: Powerplay Destination Prop HI

Welcome Home To Residence 2402. A Spectacular Opportunity To Own A Luxury Residence Along The West Maui Shoreline, Overlooking The White Sandy Crescent Of Kapalua Bay. Located Within The Renowned Kapalua Resort, Home To Two Championship Golf Courses, Miles ...

Absolute Elegance Is What Montage Has Become Kn...

Photo of Listing #382920

$6,650,000 Active Fee Simple

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

Condominium

1 Bay Dr 2403, Kapalua, Hawaii

MLS® #382920

Listed By: Wailea Realty Corp.

Absolute Elegance Is What Montage Has Become Known For. With An Exceptional Location On The Pristine Kapalua Coast, This Luxurious And Spacious Property Has 3 Bedrooms & A Den. The Beautiful Hardwood Floors, Strikingly Exotic Granite, Lavish Bathrooms And ...

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

Photo of Listing #382919

$4,495,000 Pending - Cont. To Show Fee Simple

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

Condominium

1 Bay Dr 5203, Kapalua, Hawaii

MLS® #382919

Listed By: Powerplay Destination Prop HI

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...

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

Photo of Listing #382700

$2,850,000 Active Fee Simple

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

Condominium

1 Bay Dr 3203, Kapalua, Hawaii

MLS® #382700

Listed By: Powerplay Destination Prop HI

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...

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

Photo of Listing #382701

$3,150,000 Active Fee Simple

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

Condominium

1 Bay Dr 3406, Kapalua, Hawaii

MLS® #382701

Listed By: Powerplay Destination Prop HI

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...

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

Photo of Listing #382704

$2,995,000 Active Fee Simple

  • 3 Beds
  • Baths
  • 21 Acres
  • 2,087 ft²

Condominium

1 Bay Dr 4405, Kapalua, Hawaii

MLS® #382704

Listed By: Powerplay Destination Prop HI

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...

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

Photo of Listing #382707

$3,395,000 Active Fee Simple

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

Condominium

1 Bay Dr 4503, Kapalua, Hawaii

MLS® #382707

Listed By: Powerplay Destination Prop HI

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...

*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)
Vice President
Island Sotheby's International Realty

 

Leave a Comment