Posted
by Courtney M. Brown
on Friday, December 11th, 2020 at 10:40am.
Pineapple Hill, Kapalua, Maui: Market Update
The view from 504 Pacific Drive, Pineapple Hill, Kapalua. This gracious 3B/3B home is listed at $2,495,000
About Pineapple Hill:
Nestled on the leeward side of the Kapalua Resort, Pineapple Hill is a popular residential community. The first phase is comprised of homes on lots of approximately a quarter acre, although you do see larger homes built on two or more contiguous lots. In 2001, Pineapple Hill Estates was annexed into the development and is comprised of lots approximately a half an acre in size.
Owners in Pineapple Hill enjoy a community pool, tennis and pickleball courts, and beautifully landscaped grounds.
Pineapple Hill Market Overview: How has the Market Changed?
As with much of the US, homes have become very desirable here on Maui and Pineapple Hill is no exception. Inventory is low with just six homes actively listed for sale. Four are on single lots and range from $2,330,000 to $3,450,000. Two are on larger homesites and are listed at $5,900,000 (3 lots combined) and $7,900,000 (2 lots combined).
There are two pending sales, a home in Phase I listed at $2,950,000 and a home in Pineapple Hill Estates listed at $3,595,000.
Absorption Rate: All of Pineapple Hill: 9 months of inventory Homes on Single Lots: 6 months of inventory Homes under $3M: 6 months of inventory Homes over $3M: 18 months of inventory
Pineapple Hill Sales: 2019 vs. 2020
Homes in Pineapple Hill represent a good value, and that is evident with homes spending less time on the market. When comparing 2019 to 2020, the average sales price has increased slightly, but the average sales price/sq. ft. has actually decreased slightly. It is not surprising there are fewer sales this year, as travel restrictions were in place for the better part of six months. Only two sales occurred during the travel restrictions, and half of the year's sales occurred after the state implemented its pre-travel testing program.
Pineapple Hill & Pineapple Hill Estates*
2019
2020
Change
Numer of Sales
15
10
-33%
Average Sales Price
$2,388,935
$2,718,700
+14%
Average Sales Price/Sq. ft.
$692
$696
+1%
Average DOM
262
137
-48%
*edited in 3.2021 to reflect Year End Market Data for 2020
Featured Listing
504 Pacific Drive a charming home in Kapalua’s Pineapple Hill enclave. This three bedroom, three bathroom home features stunning ocean and outer island views. Beautifully appointed, the main level features a chef’s kitchen, a spacious ocean view bedroom suite, great room, and den. Also, on the ground floor is a second bedroom and bath which opens to the tropically landscaped grounds and a soothing fountain. Upstairs is a third bedroom suite with incredible views. The spacious lanai is perfect for dining al fresco and taking in Maui’s spectacular sunsets. The home has recently been remodeled with beautiful Italian Pavio stone flooring, cherry hardwood floors, custom cabinets granite and quartz countertops.
The remodeled kitchen at 504 Pacific Drive, Kapalua, Maui features a stunning ocean view
Enjoy sunsets and incredible ocean views at 504 Pacific
Wake up to dramatic ocean and outer island views
For more information on 504 Pacific and homes for sale in Pineapple Hill, please contact Courtney Brown, R(S)
Listed By: Island Sotheby's Int'l Rlty(L) Office Contact: Cell: 808-205-5201
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Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
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