KAPALUA MARKET UPDATE: Activity through Q3 | 2023
Kapalua Condominiums: Market Update through Q3 | 2023
The Kapalua Resort is home to several different condominium communities, with offerings ranging from one to four-bedroom condominiums. The Kapalua Bay Villas, Kapalua Ironwoods, The Coconut Grove on Kapalua Bay, the Montage Residences Kapalua Bay and the Ritz-Carlton Kapalua Residences are all oceanfront properties nestled along the Kapalua Resort's spectacular shoreline. The Kapalua Ridge Villas and Kapalua Golf Villas both are located on the Kapalua Bay Course with ocean and golf course views.
Kapalua Resort Condo Market*
| KAPALUA RESORT CONDOS | Q3 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
| Number of Sales | 20 | 62 | 145 | 40 | 61 | 45 |
| Volume | $47,889,000 | $145,775,500 | $298,816,781 | $68,617,500 | $124,027,800 | $92,832,112 |
| Low Sales Price | $1,250,000 | $940,000 | $600,000 | $600,000 | $595,000 | $575,000 |
| High Sales Price | $8,200,000 | $8,000,000 | $13,295,000 | $4,200,000 | $7,950,000 | $8,950,000 |
| Median | $1,697,500 | $1,455,000 | $1,220,000 | $1,162,500 | $1,050,000 | $1,031,250 |
| Average SP | $2,394,450 | $2,351,218 | $2,060,805 | $1,715,438 | $2,033,242 | $2,062,935 |
| Average SP/Sq. Ft. | $1,562 | $1,470 | $1,154 | $1,000 | $1,028 | $1,026 |
| Average DOM | 180 | 96 | 177 | 165 | 213 | 209 |
| Average SP/LP | 98% | 99% | 97% | 94% | 96% | 97% |
| *Does not include Napili Kai (Puna) Condos, Pailolo Place Condos, Montage Fractionals, or the Ironwoods fractional sale | ||||||
Sales have been slower in the Kapalua Resort in the latter half of the year. There have been few sales to record since the fire in Lahaina in August of 2023. The resort is largely a second home market and market activity tends to be greatest in the peak seasons of winter/spring.
Key Stats by Community
How does the market through the middle of 2023 stack up for each community when compared with prior years?
Coconut Grove on Kapalua Bay
| Coconut Grove | Q3 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
| Sales | 0 | 2 | 6 | 0 | 0 | 0 |
| Volume | 0 | $10,990,000 | 29,000,000 | 0 | 0 | 0 |
| Low SP | NA | $5,300,000 | 3,700,000 | NA | NA | NA |
| High SP | NA | $5,690,000 | 6,250,000 | NA | NA | NA |
| Median SP | NA | $5,495,000 | $4,750,000 | NA | NA | NA |
| Average SP | NA | $5,495,000 | 4,833,333 | NA | NA | NA |
| Average SP/Sq. Ft | NA | $2,240 | 1,883 | NA | NA | NA |
| Average DOM | NA | 67 | 154 | NA | NA | NA |
| Average SP/LP | NA | 93% | 97% | NA | NA | NA |
View Coconut Grove Kapalua Condos for sale
At the time of this post, there are no listings and no pending sales at Coconut Grove. With just 36 condominium residences located on one of Maui's best beaches, it's not surprising that there isn't much activity. In 2022, there were just two sales at Coconut Grove. The low sale was significantly higher than in 2021. The reason for this is that all sales in 2022 were oceanfront, while in 2021 there was a second-row sale. Note: in 2021 and 2022 combined there were 8 sales, which represents 22% of the inventory to change to new ownership.
Kapalua Ironwoods*
View Kapalua Ironwoods Condos for Sale
| Kapalua Ironwoods | Q3 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
| Sales | 0 | 4 | 5 | 4 | 1 | 1 |
| Volume | 0 | $16,750,000 | $17,020,000 | $12,050,000 | $2,300,000 | $3,000,000 |
| Low SP | NA | $2,300,000 | $1,500,000 | $1,150,000 | $2,300,000 | $3,000,000 |
| High SP | NA | $6,250,000 | $4,150,000 | $4,200,000 | $2,300,000 | $3,000,000 |
| Median SP | NA | $4,100,000 | $4,020,000 | $3,350,000 | $2,300,000 | $3,000,000 |
| Average SP | NA | $4,187,500 | $3,404,000 | $3,012,500 | $2,300,000 | $3,000,000 |
| Average SP/Sq. Ft | NA | $1,729 | $1,634 | $1,412 | $1,065 | $1,391 |
| Average DOM | NA | 149 | 320 | 124 | 671 | 204 |
| Average SP/LP | NA | 95% | 92% | 88% | 93% | 92% |
*Note Ironwoods 102 was purchased by Pacaso and has been sold off in 1/4 interests. Those fractional interest sales are not accounted for in the above figures, but are reflected in the graph below. Since 2020 about 30% of the residences at the Ironwoods changed hands.
At the time of this post, there are no listings. Similar to Coconut Grove, the Ironwoods is a community of just 40 residences located oceanfront in Kapalua. There have been no pending sales or sales YTD in 2023. In 2022, the average sales price was buoyed by a record sale of a renovated oceanfront residence. The number of sales matched those in 2020.
Kapalua Bay Villas
View Kapalua Bay Villas Condos for Sale
| Kapalua Bay Villas | Q3 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
| Sales | 5 | 10 | 30 | 7 | 14 | 7 |
| Volume | $8,194,000 | $17,764,000 | $41,089,500 | $7,538,000 | $15,032,500 | $7,621,250 |
| Low SP | $1,399,000 | $1,300,000 | $755,000 | $675,000 | $800,000 | $800,000 |
| High SP | $1,900,000 | $3,200,000 | $2,900,000 | $1,900,000 | $1,485,000 | $1,600,000 |
| Median SP | $1,695,000 | $1,437,500 | $1,237,000 | $1,000,000 | $1,062,500 | $1,031,250 |
| Average SP | $1,638,800 | $1,776,400 | $1,369,650 | $1,076,857 | $1,073,750 | $1,088,750 |
| Average SP/Sq. Ft | $1,706 | $1,496 | $1,104 | $876 | $872 | $872 |
| Average DOM | 139 | 68 | 232 | 149 | 287 | 258 |
| Average SP/LP | 99% | 100% | 97% | 92% | 93% | 95% |
At the time of this post, there are two active listings and two pending sales, with five sales YTD.
| Status | Building Name | Unit | List Price | Sold Price | Close Date | Beds | Baths | Liv-SF | DOM | Price Per SQFT | MLS # |
| ACT | Kapalua Bay Villas II | 12G4 | $1,625,000 | 1 | 1 | 1,006 | 3 | $1,615 | 400201 | ||
| ACT | Kapalua Bay Villas I | 17G1,2,3 | $2,595,000 | 2 | 3 | 1,529 | 49 | $1,697 | 399855 | ||
| PNDS | Kapalua Bay Villas I | 35G-2 | $1,795,000 | 1 | 1 | 1,006 | 23 | $1,784 | 400044 | ||
| PNDNS | Kapalua Bay Villas II | 30-G2 | $2,000,000 | 1 | 1 | 1,006 | 14 | $1,988 | 400120 | ||
| SLD | Kapalua Bay Villas II | 17B3 | $1,695,000 | $1,695,000 | 3/15/23 | 1 | 2 | 995 | 58 | $1,704 | 397877 |
| SLD | Kapalua Bay Villas I | 37G-1 | $1,399,000 | $1,399,000 | 4/11/23 | 1 | 2 | 1,119 | 263 | $1,250 | 396509 |
| SLD | Kapalua Bay Villas II | 35B2 | $1,950,000 | $1,900,000 | 4/14/23 | 1 | 2 | 1,087 | 60 | $1,748 | 398133 |
| SLD | Kapalua Bay Villas II | 17G4 | $1,500,000 | $1,500,000 | 6/2/23 | 1 | 1 | 1,006 | 253 | $1,491 | 396995 |
| SLD | Kapalua Bay Villas II | 32B3 | $1,750,000 | $1,700,000 | 8/28/23 | 1 | 1.5 | 995 | 62 | $1,709 | 399242 |
In 2022, the Bay Villas also saw a record-high sale of an oceanfront villa. This also served to increase the average sales price. That said, the number of sales was much closer to 2020 figures.
Kapalua Golf Villas
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| Kapalua Golf Villas | Q3 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
| Sales | 6 | 21 | 44 | 9 | 9 | 13 |
| Volume | $9,355,000 | $27,773,500 | $42,071,750 | $7,441,500 | $14,446,603 | $10,645,400 |
| Low SP | $1,250,000 | $940,000 | $600,000 | $600,000 | $595,000 | $575,000 |
| High SP | $1,850,000 | $1,949,000 | $1,400,000 | $1,200,000 | $1,010,000 | $1,200,000 |
| Median SP | $1,597,500 | $1,215,000 | $944,000 | $745,000 | $785,000 | 849,000 |
| Average SP | $1,559,167 | $1,332,548 | $956,176 | $826,833 | $802,572 | $818,877 |
| Average SP/Sq. Ft | $1,380 | $1,205 | $856 | $749 | $677 | $678 |
| Average DOM | 143 | 81 | 122 | 124 | 165 | 155 |
| Average SP/LP | 99% | 100% | 99% | 94% | 97% | 98% |
At the time of this post, there are three active listings. There have been six sales YTD.
| Status | Building Name | Unit | List Price | Sold Price | Close Date | Beds | Baths | Liv-SF | DOM | $/SQFT | MLS # |
| ACT | Kapalua Golf Villas | 19T4-5 | $1,385,000 | 1 | 2 | 972 | 291 | $1,425 | 397970 | ||
| ACT | Kapalua Golf Villas | 17P7,8 | $1,875,000 | 2 | 2 | 1,344 | 34 | $1,395 | 399965 | ||
| ACT | Kapalua Golf Villas | 23T6-7 | $1,925,000 | 2 | 2 | 1,344 | 104 | $1,432 | 399475 | ||
| SLD | Kapalua Golf Villas | 25 P3-4 | $1,700,000 | $1,675,000 | 2/3/23 | 2 | 2 | 1,344 | 171 | $1,246 | 396733 |
| SLD | Kapalua Golf Villas | 21T1-2 | $1,385,000 | $1,385,000 | 2/17/23 | 1 | 2 | 972 | 112 | $1,425 | 397242 |
| SLD | Kapalua Golf Villas | 17T8 | $1,285,000 | $1,250,000 | 4/21/23 | 1 | 2 | 987 | 186 | $1,266 | 397171 |
| SLD | Kapalua Golf Villas | 23V2 | $1,595,000 | $1,595,000 | 6/30/23 | 1 | 2 | 899 | 72 | $1,774 | 398654 |
| SLD | Kapalua Golf Villas | 15P5&6 | $1,625,000 | $1,600,000 | 8/4/23 | 2 | 2 | 1,344 | 212 | $1,190 | 397798 |
| SLD | Kapalua Golf Villas | 27P7-8 | $1,895,000 | $1,850,000 | 8/4/23 | 2 | 2 | 1,344 | 107 | $1,376 | 398662 |
Kapalua Ridge Villas
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| Kapalua Ridge Villas | Q3 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
| Sales | 4 | 11 | 28 | 8 | 6 | 6 |
| Volume | $7,240,000 | $15,554,000 | $31,301,998 | $8,776,500 | $4,904,000 | $6,090,500 |
| Low SP | $1,390,000 | $1,250,000 | $775,000 | $650,000 | $650,000 | $849,000 |
| High SP | $2,225,000 | $1,900,000 | $1,700,000 | $1,487,500 | $1,100,000 | $1,500,000 |
| Median SP | $1,812,500 | $1,375,000 | $1,097,000 | $1,135,000 | $780,000 | $920,750 |
| Average SP | $1,810,000 | $1,414,000 | $1,117,929 | $1,097,063 | $817,333 | $1,015,083 |
| Average SP/Sq. Ft | $1,315 | $1,179 | $813 | $701 | $653 | $737 |
| Average DOM | 78 | 65 | 165 | 222 | 263 | 215 |
| Average SP/LP | 99% | 100% | 97% | 96% | 98% | 97% |
At the time of this post, there are two active listings. There have been four sales YTD.
| Status | Building Name | Unit | List Price | Sold Price | Close Date | Beds | Baths | Liv-SF | DOM | $/SQFT |
| ACT | Kapalua Ridge | 915 | $1,495,000 | 1 | 2 | 1,162 | 65 | $1,287 | ||
| ACT | Kapalua Ridge | 1114 | $1,600,000 | 1 | 2 | 1,125 | 11 | $1,422 | ||
| SLD | Kapalua Ridge | 1223-24 | $1,750,000 | $1,750,000 | 2/1/23 | 2 | 3 | 1,756 | 65 | $997 |
| SLD | Kapalua Ridge | 2911-13 | $2,250,000 | $2,225,000 | 3/22/23 | 2 | 3 | 1,778 | 37 | $1,251 |
| SLD | Kapalua Ridge | 724 | $1,389,000 | $1,390,000 | 7/18/23 | 1 | 2 | 1,125 | 68 | $1,236 |
| SLD | Kapalua Ridge | 1611-13 | $1,950,000 | $1,875,000 | 7/31/23 | 2 | 3 | 1,778 | 143 | $1,055 |
In 2022, similar to other properties, the available inventory at the Ridge Villas was quite limited. The sale of a two bedroom villa set a record high of $1,900,000.
Montage Residences Kapalua Bay
| Montage Kapalua Bay | Q3 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
| Sales | 4 | 10 | 27 | 9 | 21 | 12 |
| Volume | $21,550,000 | $49,605,000 | $128,678,533 | $28,939,000 | $86,445,000 | $58,780,074 |
| Low SP | $3,650,000 | $3,000,000 | $2,695,000 | $2,750,000 | $2,400,000 | $3,495,000 |
| High SP | $8,200,000 | $8,000,000 | $13,295,000 | $4,159,000 | $7,950,000 | $8,950,000 |
| Median SP | $4,850,000 | $4,600,000 | $4,145,000 | $2,995,000 | $3,595,000 | $4,422,500 |
| Average SP | $5,387,500 | $4,960,500 | $4,765,872 | $3,215,444 | $4,116,429 | $4,898,340 |
| Average SP/Sq. Ft | $2,074 | $2,027 | $1,742 | $1,407 | $1,556 | $1,572 |
| Average DOM | 513 | 151 | 152 | 170 | 173 | 230 |
| Average SP/LP | 97% | 97% | 98% | 99% | 97% | 100% |
View Montage Residences Kapalua Bay Condos for Sale
At the time of this post, there are two active listings and no pending sales at the Montage Kapalua Bay. There have been four sales YTD.
| Status | Building Name | Unit | List Price | Sold Price | Close Date | Beds | Baths | Liv-SF | DOM | $/SQFT | MLS # |
| ACT | Montage Residences Kapalua Bay | 4201 | $4,395,000 | 3 | 3.5 | 2,065 | 123 | $2,128 | 399361 | ||
| ACT | Montage Residences Kapalua Bay | 5104 | $4,495,000 | 3 | 3.5 | 2,789 | 97 | $1,612 | 399525 | ||
| SLD | Montage Residences Kapalua Bay | 2206 | $3,800,000 | $3,650,000 | 2/21/23 | 3 | 3.5 | 2,904 | 974 | $1,257 | 387459 |
| SLD | Montage Residences Kapalua Bay | 4503 | $4,595,000 | $4,450,000 | 5/1/23 | 3 | 3.5 | 2,079 | 201 | $2,140 | 397124 |
| SLD | Montage Residences Kapalua Bay | 1203 | $8,795,000 | $8,200,000 | 6/13/23 | 3 | 3.5 | 2,904 | 363 | $2,824 | 396141 |
| SLD | Montage Residences Kapalua Bay | 3501 | $5,250,000 | $5,250,000 | 6/14/23 | 3 | 3.5 | 2,065 | 40 | $2,542 | 398797 |
While the record high sale was in 2021, the average sales price did increase at Montage as did the average sales price/sq. ft. It is noteworthy that the high sale in 2021 was a four bedroom residence. With only eight ever built, these seldom come up, but when they do sell, they command a high price that does impact the average sales price and price per sq. ft. as they are directly oceanfront residences that often command a higher price. The number of sales was similar to 2020, but the volume was significantly higher.
Ritz-Carlton Kapalua Residences
| Ritz-Carlton Residences | Q3 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
| Sales | 1 | 4 | 5 | 3 | 1 | 6 |
| Volume | $1,550,000 | $7,429,000 | $9,655,000 | $3,872,500 | $900,000 | $6,694,888 |
| Low SP | $1,550,000 | $990,000 | $945,000 | $735,000 | $900,000 | $830,000 |
| High SP | $1,550,000 | $2,800,000 | $2,800,000 | $2,300,000 | $900,000 | $1,400,000 |
| Median SP | $1,550,000 | $1,820,000 | $1,800,000 | $837,500 | $900,000 | $1,082,444 |
| Average SP | $1,550,000 | $1,857,250 | $1,931,000 | $1,290,833 | $900,000 | $1,115,815 |
| Average SP/Sq. Ft | $1,765 | $1,557 | $1,446 | $1,065 | $1,034 | $1,093 |
| Average DOM | 162 | 161 | 448 | 216 | 203 | 207 |
| Average SP/LP | 92% | 102% | 97% | 88% | 92% | 90% |
View Ritz-Carlton Residences Kapalua Condos for Sale
At the time of this post, there are four active listings at the Ritz-Carlton, Kapalua. There have been two sales Year to Date.
| Status | Building Name | Unit | List Price | Sold Price | Close Date | Beds | Baths | Liv-SF | DOM | $/SQFT | MLS # |
| ACT | The Ritz Carlton Residences | 1601 | $1,685,000 | 1 | 1 | 872 | 236 | $1,932 | 398419 | ||
| ACT | The Ritz Carlton Residences | 1126-1128 | $3,250,000 | 2 | 2 | 1,398 | 120 | $2,325 | 399404 | ||
| ACT | The Ritz Carlton Residences | 1614/1616 | $3,650,000 | 2 | 2 | 1,333 | 35 | $2,738 | 399953 | ||
| ACT | The Ritz Carlton Residences | 1626 | $8,900,000 | 2 | 2.5 | 2,558 | 134 | $3,479 | 399288 | ||
| SLD | The Ritz Carlton Residences | 1712 | $1,680,000 | $1,550,000 | 4/5/23 | 1 | 1 | 878 | 162 | $1,765 | 397227 |
| SLD | The Ritz Carlton Residences | 1226-1228 | $3,675,000 | $3,100,000 | 10/30/23 | 2 | 2 | 1,477 | 348 | $2,099 | 397394 |
The Ritz-Carlton Kapalua also saw an increase in the average sales price/sq. ft. with an increase in the sales price to list price ratio as well in 2022.
If you are thinking of buying or selling in Kapalua, please contact Courtney M. Brown for more detailed information on the market at each of these Kapalua communities,
Kapalua Condos for Sale
Kapalua Resort Condos for Sale
Note: care is taken with compiling the data and information, but is subject to change and does not include private transactions not in MLS. Interested parties are advised to do their own due diligence and confirm all figures contained herein.
*Kapalua Resort data contained in the search is pulled from the Maui MLS using a map search which is outlined to include condominiums in the Kapalua Resort. It does not include condominium data for the condominiums at Napili Kai or Pailolo Place which fall within the MLS District of Kapalua but are not part of the Kapalua Resort. Stats on other sites may pull different data if not excluding these areas.
This blog was updated on 7/28/23 and the interactive charts from the MLS were changed from rolling year of data to rolling 6 months.
Posted by Courtney M. Brown on
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