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        <title>Maui Real Estate &amp; Lifestyle News</title>
        <link>http://www.luxuryrealestatemaui.com/blog/tags/market-intelligence/</link>
        <description>Courtney M. Brown, Realtor (S) Blog: information on the Maui real estate market, trends, and listings. Homes, condos and land for sale.</description>
<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/montage-residences-kapalua-bay-live-in-luxury.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/montage-residences-kapalua-bay-live-in-luxury.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Montage Residences Kapalua Bay | Live in Luxury</title>
    <description> <![CDATA[ 
The Montage Residences Kapalua Bay


Since opening to the public in 2014, the Montage Kapalua Bay Hotel and Residences has been gathering some of the hospitality industry's most coveted awards and accolades.  In 2016 it was awarded 5-stars by Forbes, and named the 1 Best Resort Hotels in Hawaii and 4 Best Hotels in the World by Travel and Leisure.  The Spa Montage (Conde Nasté Reader's Choice Awards, 2015 20 Best Spas) and its flagship restaurant, Cane &amp; Canoe (Maui No Ka Oi Magazine, Best Innovative Menu, 2016 and Best New Restaurant, 2015) have also been recognized.


With a focus on five star service and amenities, and its incredible setting, it's no surprise the private residences are also proving to be very desirable purchases, setting record high sales for condominium residences in West Maui.  Adding to the location and spacious size (residences range from 2,789 to 4,055 sq. ft.), owners have the option of renting the residences when not in use due to the hotel zoning.


Live a Maui Life...





Montage Residences Kapalua Bay, Residence 1205


Now offered at $5,795,000 this private residence is positioned overlooking the crescent shaped beach at Maui's famed Kapalua Bay, with views of the outer islands of Molokai and Lanai.  This three bedroom residence enjoys a private yard beyond a large sheltered lanai, perfect for taking in the ocean views and sunset.


Current Market Summary: Montage Residences Kapalua Bay


Active Listings: 9 in MLS.  Three are resales, and the remainder are developer inventory. There is some developer inventory not actively listed but available.  Inquire for more information.Price Range: $3,550,000 to $8,750,000Average LP: Average LP/Sq. Ft.: $1651


Pending Sales: 3Price Range: $3,600,000 to $4,500,000


Sales YTD: 6Price Range: $3,125,000 (resale), and $3,850,00 to $8,650,000 (developer)Average Sales Price (all): $4,795,888Average SP/Sq. Ft (all).: $1551





Montage Residences Kapalua Bay, Residence 5202


Montage Residence 5202 is currently the lowest priced offering in the MLS at $3,550,000.  Located in the desirable 02 stack in building 5, this residence features an ocean view lanai with sweeping views of the coast and the outer islands off the living room and master bedroom, as well as a private garden lanai off the guest master.  This is an exceptional value in this five star property. 


Sales History: Ritz-Carlton Residences Kapalua Bay and Montage Residences Kapalua Bay


Originally developed as a Ritz-Carlton Club and Residences and offered in 2009, the property was offered with 84 whole ownership private condominium residences and 64 fractional (1/12) ownership residences interests.  There were 13 Initial sales to the public that ranged from $2,800,000 to a high of $5,735,000.  There was a block of 15 residences purchased by Exclusive Resorts for $56,574,392.  


Poor market timing of the launch led to foreclosure.  Island Acquisitions, formed by capital group Lantern Asset Management, became the new owner in early 2013, with 56 private residences as their holdings, along with unsold fractional interests  (there were 177 of 744 fractional interests sold in the original offering).


After extensive upgrades were made to the property, it was rebranded and launched as the Montage Kapalua Bay.  Unsold fractional interests became hotel inventory.  Sales of the private residences commenced in the summer of 2014, and have since brought in record high values for West Maui condominiums.  In all, there have been 23 sales since the rebranding as the Montage Residences Kapalua Bay.


Sales Since Re-Launch 2014: Price Range: $3,125,000 (resale) and $3,850,000 to $8,650,000 (developer)Average SP (all): $5,057,826Average SP/Sq. Ft. (all): $1638


For more information on both resales and developer offerings at the Montage Residences Kapalua Bay, please contact Courtney.



 ]]> </description>
    <pubDate>Thu, 15 Sep 2016 13:59:00 -1000</pubDate>
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    <guid>http://www.luxuryrealestatemaui.com/blog/kapalua-real-estate-market-update-august-2016.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kapalua-real-estate-market-update-august-2016.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kapalua Real Estate: Residential Market Update September 2016</title>
    <description> <![CDATA[ 
Kapalua Residential Real Estate Market Update




The Kapalua Resort offers many real estate ownership options to prospective buyers--everything from condos to homes, and even fractional ownership Residences at Kapalua Bay.  The following is a market overview for each market segment during the time period through today's posting.


Kapalua Homes:




Pineapple Hill and Pineapple Hill EstatesActive Listings: 12Price Range: $2,150,000 to $6,300,000Average List Price: $3,537,791Average LP/Sq. Ft.: $821Average DOM: 258Size Range: 3,522 sq. ft. to 8,172 sq. ft.

Pending Sales: 0


Sales 2016 YTD: 6Price Range: $2,150,000 to $2,700,000Average Sales Price: $2,353,333Average SP/Sq. Ft.: $670Average DOM: 275


Sales 2015 YTD: 7Price Range: $1,975,000 to $3,350,000Average Sales Price: $2,482,857Average SP/Sq. Ft.: $623Average DOM: 305


Honolua RidgeActive Listings: 2Price Range: $4,395,000 to $4,995,000Average List Price: $4,695,000Average LP/Sq. Ft.: $849Average DOM: 233Size Range: 4,574 sq. ft. to 6,248 sq. ft.


Pending Sales: 0


Sales 2016 YTD: 2Price Range: $4,850,000 to $4,950,000Average Sales Price: $4,900,000Average SP/Sq. Ft.: $920Average DOM: 271


Sales 2015 YTD: 1Price: $3,495,000Average SP/Sq. Ft.: $876Average DOM: 174


Plantation EstatesActive Listings: 7Price Range: $5,250,000 to $6,995,000Average List Price: $5,953,571Average LP/Sq. Ft.: $1,072Average DOM: 133Size Range: 4,118 sq. ft. to 8,179 sq. ft.


Pending Sales: 2Price Range: $5,200,000 to $6,000,000Average List Price: $5,600,000Average LP/Sq. Ft.: $697Average DOM: 269


Sales 2016 YTD: 1Price: $6,470,000Average SP/Sq. Ft.: $863Average DOM: 44


Sales 2015 YTD: 2Price Range: $3,575,000 to $5,700,000Average Sales Price: $4,637,500Average SP/Sq. Ft.: $920Average DOM: 771


Kapalua PlaceActive Listings: 1Price Range: $17,600,000LP/Sq. Ft.: $2,355Average DOM: 225Size Range: 7,475 sq. ft.


Oceanfront Private PointSold: 1Price: $9,500,000SP/Sq. Ft.: $2,367DOM: 200


Commentary: The broad range in prices (both active and sales) are reflective of several factors, not limited to neighborhood (each has its own set lot size ranges), proximity to the ocean, view and age of the home.


The homes in Pineapple Hill Phase I are limited to six footprints, and can range in age from 1989 to present day construction, and some homes are situated on more than one lot, which allows for a custom home.  Pineapple Hill Estates lots are larger, and as the development was released in 2003, construction is, on average, newer.  There are not the same floor plan limitations, though all must be single story with the exception of the top row. 


Kapalua Place is the only beachfront residential community in Kapalua and offers just five oceanfront parcels in a community of eight residential lots.  


Plantation Estates predates Honolua Ridge, which is actually annexed into the Plantation Estates Lot Owner's Association.  Lots in Plantation Estates are a minimum of two acres, and have the advantage of being located on and around the Plantation Golf Course.  Lot sizes in Honolua Ridge can be significantly larger (ranging upward to 30 acres).  Please contact me with any questions regarding the Kapalua Residential Real Estate Market. 


Overall 2016 YTD vs 2015 YTD:There were the same number of homes sold (10).  Sales volume was up 33, and the Average Sale Price was also up (+33). Median Sale Price was down (-8).  The inventory of homes actively listed for sale in Kapalua is up slightly at 7.

View Current Kapalua Homes for Sale

 


 


 ]]> </description>
    <pubDate>Wed, 14 Sep 2016 21:13:00 -1000</pubDate>
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<item>
    <guid>http://www.luxuryrealestatemaui.com/blog/kapalua-real-estate-market-spotlight.html</guid>
    <link>http://www.luxuryrealestatemaui.com/blog/kapalua-real-estate-market-spotlight.html</link>
        <author>cb@luxuryrealestatemaui.com (Courtney M. Brown)</author>
        <title>Kapalua Real Estate: Market Spotlight</title>
    <description> <![CDATA[ 
Kapalua Real Estate: Market Spotlight 2016 Q-1


The Kapalua Resort offers many options to prospective buyers--everything from condos to homes, and even fractional ownership Residences at Kapalua Bay.  The following is a market overview for each market segment as of this posting:


Kapalua Homes:





Active Listings: 22Price Range: $2,495,000 to $20,880,000Average List Price: $6,53,790Size Range: 3,522 sq. ft. to 12,072 sq. ft.


Pending Sales: 4Price Range: $2,495,000 to $6,500,000Average Listing Price: $3,621,250


Sales YTD: 5Price Range: $2,150,000 to $4,950,000Average Sales Price: $3,370,000


Sales 2015 YTD: 1Price: 3,196,000


Commentary: There are five primary residential areas in Kapalua: Pineapple Hill and Pineapple Hill Estates, Kapalua Place, Honolua Ridge and the Plantation Estates.   2016 sales represent a significant increase in the number of sales over the same period last year: VIEW ALL KAPALUA HOMES FOR SALE.


Kapalua Condominiums:





Active Listings: 71Price Range: $595,000 to $8,750,000Average List Price: $1,620,105Size Range: 870 sq. ft. to 4,055 sq. ft.


Pending Sales: 8Price Range: $760,000 to $4,500,000Average Listing Price: $1,844,250


Sales YTD: 5Price Range: $650,000 to $3,125,000Average Sales Price: $1,302,076


Commentary: Sales 2015 YTD: 9Price Range:  $660,000 to $4,600,000Average Sales Price: $1,961,333


Properties are spending a little less time on the market (231 vs. 282 days), however, there have been less sales and a decline in average sales price.  It should be noted that just one or two sales can change the averages, particularly with high price points at the Montage Kapalua Bay. It may also be that some potential condo buyers elected to purchase homes instead, causing a bump in residential sales which are perceived as good values relative to some of the pricier condominiums.  Condominium neighborhoods in Kapalua include the Coconut Grove, Kapalua Bay Villas, Kapalua Golf Villas, Kapalua Ironwoods, Kapalua Ridge Villas, Montage Residences, Kapalua Bay and the Ritz-Carlton Residences, Kapalua.  VIEW ALL KAPALUA CONDOS FOR SALE


Kapalua Fractional (1/12th Ownership):





Active Listings: 22Price Range: $199,000 to $395,000Average List Price: $296,045Size Range: 1,774 sq. ft. to 2,087 sq. ft.


Pending Sales: 0


Sales YTD: 1Price: $225,000


Commentary: Sales 2015 YTD: 2Price Range:  $190,000 to $225,000Average Sales Price: $207,500


The fractional market is a new one to Kapalua, with former Ritz-Carlton Club Residences now being sold at the property now known as the Montage Kapalua Bay.  Only 177 fractional interest sold in the original launch, and there are no new developer offerings.  Resales are limited to this original existing ownership group.  VIEW ALL KAPALUA FRACTIONAL LISTINGS FOR SALE


Kapalua Vacant Land:





Active Listings: 12Price Range: $835,000 to $3,000,000Average List Price: $1,512,166Size Range: .23 to 15 acres


Pending Sales: 0


Sales YTD: 2Price Range: $925,000 to $1,450,000Average Sales Price: $1,187,500


Commentary: Sales 2015 YTD: 0


Commentary: Vacant land has been hit hardest in the Kapalua real estate market since the bottom in 2012.  Land sales have historically lagged behind home sales as they present a longer time investment with regard to planning and building.  Many resort buyers are looking for ease of use, like a home or a condo.  However, when home prices are high and land prices low, you do see buyers move into the land market so that they can build exactly what they want in a home. There are five primary residential areas in Kapalua: Pineapple Hill and Pineapple Hill Estates, Kapalua Place, (note there is only one undeveloped lot in this oceanfront community) Honolua Ridge and the Plantation Estates.  VIEW ALL KAPALUA LAND FOR SALE.


 
 ]]> </description>
    <pubDate>Sun, 03 Apr 2016 13:46:00 -1000</pubDate>
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