Posted by Courtney M. Brown on Tuesday, April 28th, 2020 at 6:03pm.
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.
| Year | Sales | Low SP | AVG SP | High SP | AVG $/sq ft | AVG DOM | AVG SP/LP | Volume |
| 2007 | 14 | $700,000 | $1,148,143 | $1,500,000 | $773 | 165 | 87% | $16,074,000 |
| 2008 | 5 | $825,000 | $1,103,000 | $1,300,000 | $773 | 261 | 83% | $5,150,000 |
| 2009 | 5 | $560,500 | $1,022,100 | $1,300,000 | $732 | 283 | 92% | $5,110,500 |
| 2010 | 6 | $571,500 | $685,833 | $915,000 | $478 | 228 | 91% | $4,115,000 |
| 2011 | 11 | $410,000 | $731,536 | $1,560,000 | $513 | 155 | 94% | $8,046,900 |
| 2012 | 13 | $470,000 | $726,385 | $930,000 | $531 | 271 | 92% | $9,443,000 |
| 2013 | 20 | $497,000 | $863,525 | $1,540,000 | $580 | 241 | 92% | $17,270,500 |
| 2014 | 7 | $515,000 | $756,857 | $1,200,000 | $618 | 170 | 94% | $5,298,000 |
| 2015 | 17 | $630,000 | $966,006 | $1,600,000 | $662 | 179 | 92% | $16,422,100 |
| 2016 | 17 | $510,000 | $937,647 | $1,650,000 | $638 | 178 | 96% | $15,940,000 |
| 2017 | 6 | $535,000 | $684,500 | $860,000 | $582 | 229 | 95% | $4,107,500 |
| 2018 | 16 | $540,000 | $1,081,875 | $1,500,000 | $690 | 164 | 93% | $17,310,000 |
| 2019 | 18 | $550,000 | $861,028 | $1,400,000 | $660 | 226 | 95% | $15,498,500 |
| 3.31.2020 | 7 | $575,000 | $813,142 | $1,100,000 | $625 | 120 | 95% | $5,692,000 |
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.
For more information on the Masters condos for sale and the real estate market, please contact our team.
Residential
50 Puu Anoano St 3408, Kaanapali, HI
MLS® #408702
Listed By: Berkshire Hathaway Maui Prop-L
Perched On The Top Row In One Of Ka'anapali Masters’ Most Coveted Locations, Residence 3408 Offers Breathtaking West-facing Ocean And Outer Island Vistas, Year-round Panoramic Sunsets, And Front-row Seats To Seasonal Whale Watching. Overlooking The Renowned...
Residential
50 Puu Anoano St 2902, Kaanapali, HI
MLS® #408624
Listed By: Maui Resort Realty
Office Contact: Cell: 808-281-6619
Welcome To The Masters At Kaanapali, One Of West Maui’s Most Cherished Communities, Renowned For Its Sweeping Ocean Views, Lush Tropical Landscaping, And Tranquil, Low-density Setting. Enjoy Sparkling Pools And Tennis/pickleball Courts, Or Visit The Orchard...
Residential
50 Puu Anoano St 1707, Kaanapali, HI
MLS® #408634
Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-276-6061
You Simply Must Come By And Look At This Fabulous Ground Floor Unit. Prepare Yourself To Be Happy From The Moment You Walk Through The Front Door If This Wonderful Home. The Seller Recently Replaced The Shower In The Guest Bath, And Spa Tub In The Main Bath...
Residential
50 Puu Anoano St 2302, Kaanapali, HI
MLS® #408535
Listed By: Maui Resort Realty
Office Contact: Cell: 808-281-6619
Welcome To The Masters, One Of Kaanapali’s Most Cherished Communities, Known For Sweeping Ocean Views, Lush Tropical Landscaping, And A Serene, Low-density Setting. The Property Spans 37 Acres And Features Two Saltwater Pools And Hot Tubs, Four Tennis Court...
Residential
50 Puu Anoano St 3304, Kaanapali, HI
MLS® #408486
Listed By: Berkshire Hathaway Maui Prop-L
Positioned At The Quiet End Of A Cul-de-sac Within The Masters At Ka'anapali Hillside, Residence 3304 Enjoys A Commanding Elevated Setting Where The Land Falls Away Toward The Pacific, Creating A Dramatic Sense Of Openness And Privacy. Framed By Mature Trop...
Residential
50 Puu Anoano St 1204, Kaanapali, HI
MLS® #408117
Listed By: Island Sotheby's International Realty(L)
Office Contact: Cell: 808-250-0210
This Beautifully Positioned Second-floor Villa Features Sweeping Ocean, Island, And Golf Course Views. Overlooking The 13th And 14th Fairways Of The Kaanapali Royal Golf Course, This Residence Captures Stunning Panoramas Of Both Lanai And Molokai — An Ideal...
Residential
50 Puu Anoano St 2204, Kaanapali, HI
MLS® #407973
Listed By: Coldwell Banker Island Prop-Ku
Office Contact: Cell: 808-205-2787
Welcome To The Masters 2204, A Rare Top-floor Residence In One Of Ka’anapali’s Most Coveted Communities. This Beautifully Updated 2 Bed, 2 Bath Home Offers 1,512 Sq. Ft. Of Living With Vaulted Ceilings, Skylights, And Fresh New Furnishings Throughout. With ...
Residential
50 Puu Anoano St 903, Kaanapali, HI
MLS® #407945
Listed By: Maui Luxury Real Estate LLC
Masters 903 Isn’t Just A Ground Floor Jewel, It’s A Front Row Legacy. From This Premium, Walk-right-out Location, Your Lanai Feels Like The Edge Of The Island, With Mesmerizing Pacific Ocean And Outer Islands Views Filling The Horizon. Step Into A True “wow...
Residential
50 Puu Anoano St 2304, Kaanapali, HI
MLS® #407778
Listed By: Maui Resort Realty
Office Contact: Cell: 808-281-6619
Welcome To The Masters, One Of Kaanapali's Most Cherished Communities—celebrated For Its Sweeping Ocean Views, Lush Tropical Landscaping, And Serene, Low-density Setting. Meandering Paths Lead To Sparkling Pools And Tennis/pickleball Courts, All Surrounded ...
Residential
50 Puu Anoano St 1704, Kaanapali, HI
MLS® #407731
Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-357-4000
Enjoy Living At The Masters At Kaanapali, Only A Stroll Away From Prestigious Ka'anapali Beach. This Gated Development Offers A Park Like Setting, With Beautiful, Lush Landscaping And With 2 Recreation Centers, With Pools, Cabanas, Barbeques, Tennis Courts ...
Residential
50 Puu Anoano St 3903, Kaanapali, HI
MLS® #407644
Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-276-6061
This Lovely Ground Floor Level, 1 Bedroom, 1 Bath Unit Features Spectacular Ocean Views, Location, And A Wonderful Opportunity For The Buyers Who May Have Pets. The Sellers Have Renovated The Shower As Well As Tiling The Lanais, And Made Good Use Of The Spa...
Residential
50 Puu Anoano St 1803, Kaanapali, HI
MLS® #407553
Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-283-5166
Beautiful Remodeled Single Level 2-bedroom 2-bath Unit With No Interior Stairs. This Unit Is One Of The Rare Locations Requiring Only A Few Steps Down From The Parking Lot To The Front Door. Enjoy Stylish Indoor-outdoor Living, Enhanced With 3 Split Air Con...
Courtney M. Brown, R(S) & Team
Vice President
Island Sotheby's International Realty