The Masters is one of my favorite condominium communities, having gotten my start in real estate working on the developer's sales team (far too long ago). The property overlooks the Royal Kaanapali golf course, with sweeping views of the ocean and outer islands. The low-rise, low-density development, lends a feeling of privacy and space, with 200 units on approximately 38 acres. Amenities in this gated community include two pools, two spas, and four tennis courts, and the ability to have BBQ's. It's a popular choice for both primary residents and second homeowners alike seeking to live in the Kaanapali Resort.
As we navigate an unusual time, many buyers and sellers are wondering how to value properties that are currently on the market. Questions like "How much has the market changed in the last real estate cycle?" "When was the peak?", and "When was the low?" are common.
To answer these questions and others, it is helpful to have context as to where the market has been over the last twelve years.
A Historical Overview of the Condo Sales Masters at Kaanapali Hillside
AVG $/sq ft
In general, we saw the market peak in 2007/2008 for most of Maui's resort communities, with the bottom following fairly shortly after the peak.
If we look at the average sales prices, the last cycle peaks at the Masters were in 2007/2008 and in 2018, with market lows in 2010 and again in 2017. So how does the market compare now? The average sales price for closings year to date is down -29% from the market high in 2007. It is up +19% from the market lows of 2010/2017.
It is important to note a few key points: the Masters has three different sizes of residences from 1B-3B, with the majority of the units being 2B floor plans. As a result, if there are no 1B or 3B sales in a calendar year, average sales prices can be affected. Built in 1989, many of the residences have been renovated, which will also impact final sales prices and averages. And while it can be hard to quantify, the view/location also has a huge impact on the value of a property.
This Single Level 2 Bedroom 2 Bath Corner Unit Is In A Premier Location, Very Private At The End Of The Cul-de- Sac. Wonderful Ocean And Neighbor Island Views From Your Lanai. Watch Whales When In Season And Great Sunset Views. There Is A Lawn Area In Front...
Exquisite Owner Remodeled And Re-designed Upper Level, Two Bedroom, Two Bath Luxury Kaanapali Residence With An Incredible, Million Dollar View. Enjoy Exhilarating, Wide Ocean, Multi-island And Sunset Views From This Spacious Corner Residence Capturing The...
Masters At Ka'anapali Hillside Unit 1905 Boasts Views Of The Islands Of Lanai And Molokai With Year-around Sunsets As It Peers Down The Picturesque 10th Fairway Of The Royal Kaanapali Golf Course. This Corner Unit Along With Its Spacious "d" Floorpan Offers...
Views Views Views!!! Very Well Kept One Bedroom Condominium On The Top Row At The Masters At Kaanapali, With Stunning 180 Degree Ocean Views Of Molokai And Lanai On The Horizon, Year Round Sunsets, And Whales Breaching In Season. You'll Enjoy The Best Of Ma...
Located On The 14th Tee, This Sought After Upstairs Two Bedroom, Two Bath Unit Has The Million Dollar Ocean, Island And Sunset Views For Less Than A Million Dollars. Features Include An Upgraded Kitchen With Newer Appliances, Including An Induction Stove To...
Sunset, Ocean, Island And Golf Course Await You At The Finest Property Within The Exclusive Gated Condominium Community Known As The Masters Of Kaanapali. Masters 1902 Is A 2nd Floor Unit That Has Been Highly Renovated And Offers 2-bedrooms, 2-bathrooms And...
Absolutely Elegant, Spacious And Exquisitely Renovated! This Sought After “f” Floor Plan Is A Beautiful, Upper Level, 1,850 Sq. Ft. Executive Kaanapali Masters Residence With Wide, Outstanding Ocean, Multi-island And Sunset Views. Rich And Luxurious, The Sp...
The Masters Complex, Located In The Heart Of Kaanapali, Is Coveted As A Location To Reside Or To Utilize As An Investment By Renting To Others On A Long Term Basis. The Views (to The West Encompassing The Ocean, Lanai And Molokai) And The Sunsets All Year L...
This Two-bedroom, Two-bathroom Upstairs Suite Offers Panoramic Views Of The Beautiful Pacific Ocean And Neighboring Island While Overlooking The 9th Fairway Of The Royal Kaanapali Golf Course. The Masters Is An Exclusive Gated Community On Kaanapali Hillsid...
Luxurious, Spacious And Very Private. Elegant, Roomy, 1,516 Sq. Ft. Executive Residence With Beautiful Ocean, Island, Golf Course And Sunset Views. Desirable North End Of The Building Captures The Tropical Breezes And Offers A Spacious Kitchen And Private...
This Beautifully Furnished Upstairs Corner Unit Features Vaulted Wood Ceilings In The Living Room, Master Bedroom Suite, Guest Bedroom And Lanai. Its Fantastic Ocean Views Include Dazzling Sunsets And The Outer Islands Of Lanai And Molokai From Every Room I...
This 2-bedroom, 2-bathroom Upstairs Suite Offers Panoramic Views Of The Beautiful Pacific Ocean And Neighboring Islands. This Suite Is Located On The 9th Fairway Of The Royal Kaanapali Golf Course Overlooking The Famous Kaanapali Beach. With Only Three Step...