Montage Residences Kapalua Bay: Condominium Listings and Sales
Market Overview September 2019
Montage Residences at Kapalua Bay
Whole Ownership Condominium Residences
When originally developed as a Ritz-Carlton Club and Residences in 2008, the property was comprised of 84 wholly-owned three and four-bedroom residences, some of the largest condominiums available in West Maui. These residences are located in buildings 1, 2, 5 and 6 and ranged from 2,789 to 4,055 sq. ft.
The development also included 62 smaller two and three-bedroom residences that were offered as 1/12 ownership located in buildings 3 and 4. Since then, the property was re-branded in 2014 and all developer fractional sales were halted.
Since being rebranded the Montage Residence Kapalua Bay in 2014, sales at the property have soared. As an overview, when sales at the property first launched in 2009, the market was at a downturn after it's 2007/2008 peak. The low for the Kapalua Resort real estate market took place after in 2012.
To give you a better sense of how significantly the market has changed, between 2009-2011 there were 14 sales averaging approximately $3.83M, with a total sales volume of $53,747,552. The foreclosure took place in 2011, and sales ceased while improvements were made property-wide. When sales began again, the building 1 which is oceanfront, saw the bulk of the activity, followed by buildings 5 (particularly upper floors) and 2. This summer, the developer began sales of 15 of the smaller three-bedroom residences (approximately 2,000 +/- sq. ft.) in buildings 3 and 4, as well as the remaining inventory of larger residences in building 6.
As of the date of this post, there have been 16 Residences to sell at the Montage Kapalua Bay, averaging $4.53M and a Year to Date volume of $69,855,000 with another $9,240,000 in pending sales in MLS. This represents a dramatic 19% increase over 2018's total sales volume and a 49% increase over the sales volume when the project relaunched in 2014. It is noteworthy that 2019 also marks a year of remarkable resale activity, with prime locations with outstanding furnishings, such as Residence 1405, commanding the highest resale of a 3 Bedroom Residence in the project's history:
| Residence Resales 2019 | Sold | Prior Sale |
| Montage Residences 2206 | $2,400,000 | $1,214,600 (2014) |
| Montage Residences 2204 | $2,800,000 | $1,333,000 (2014) |
| Montage Residences 2103 | $4,950,000 | $2,800,000 (2011) |
| Montage Residences 1404 | $5,275,000 | $4,350,000 (2016) |
| Montage Residences 5501 | $5,535,000 | $4,500,000 (2017) |
| Montage Residences 1102 | $5,800,000 | $4,785,000 (2014) |
| Montage Residences 1405 | $7,250,000 | $4,625,000 (2015) |
Quick Market Overview Montage Kapalua Bay Condo Listings:
View Current Listings of Montage Residences Kapalua Bay Condominiums
| Current Listings | 7 |
| Low LP | $2,850,000 |
| High LP | $6,650,00 |
| Average LP | $4,147,142 |
| Average LP/Sq. Ft. | $1674 |
| Average DOM | 129 |
Montage Kapalua Bay Pending Sales
| Current Listings | 3 |
| Volume | $9,240,000 |
| Low LP | $2,850,000 |
| High LP | $3,080,000 |
| Average LP | $5,141,250 |
| Average LP/Sq. Ft. | $1233 |
| Average DOM | 95 |
Montage Kapalua Bay Sales
View Montage Residences Kapalua Bay Recent Sales
| Montage Residences | 2019 YTD | 2018 | 2017 | 2016 | 2015 | 2014 |
| Sales | 16 | 12 | 12 | 9 | 9 | 8 |
| Volume | $69,855,000 | $58,780,074 | $54,388,000 | $41,000,000 | $40,770,000 | $46,785,000 |
| Low SP | $2,400,000 | $3,495,000 | $3,125,000 | $3,125,000 | $3,950,000 | $4,300,000 |
| High SP | $7,950,000 | $8,950,000 | $6,475,000 | $8,650,000 | $4,900,000 | $8,250,000 |
| Average SP | $4,365,937 | $4,898,339 | $4,532,333 | $4,555,556 | $4,530,000 | $5,848,125 |
| Average SP/Sq. Ft | $1626 | $1572 | $1582 | $1516 | $1609 | $1735 |
| Average DOM | 177 | 229 | 100 | 147 | 168 | 67 |
Comments on Montage Residences Kapalua Bay Condo Sales History (Year over Year):
It is to expected that the days on market would increase, as we start to see more re-sales introduced to the market in 2019. Additionally, the low sales price would have been at it's peak in 2014, when buyers were focused on the two oceanfront buildings (buildings 1 and 2) and at its lowest in 2019 with the introduction of the 15 smaller residences in buildings 3 and 4.
You'll also note a variation in the high sales--there are only 8 four-bedroom residences, which are located at the center of the two oceanfront buildings. These command the highest sales prices for both their size and location. There were three four-bedroom sales in 2014, which served to also increase the average SP/Sq. Ft., one in 2016, two in 2018, and one in 2019. This is why you see lower High Sales Prices in 2015 and 2017.
View Current Montage Kapalua Residences for Sale:
MONTAGE RESIDENCES KAPALUA BAY | Condos for Sale
*Statistics above are at the time of this post per MLS. Any interested party should do their own due diligence as the information is subject to change.
Posted by Courtney M. Brown onEnjoy this blog post? Click here to subscribe for updates
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