WAILEA CONDOMINIUM MARKET UPDATE: Q2 2023 

Wailea Resort Condominiums

Wailea Condominiums

Wailea is home to several different condominium resorts, including the Andaz, Grand Champions, Ho'olei, Kai Malu, Kanani Wailea, Keala O Wailea, Palms at Wailea, Wailea Palms, Makalii, Papali, Polo Beach Club, Wailea Beach Villas, Wailea Ekahi, Wailea Ekolu, Wailea Elua, Wailea Fairway Villas, Wailea Point, and Wailea Town Center.

Makena is home to the Makena Golf & Beach Club, Makena Surf, Na Hale O Makena

WAILEA & MAKENA CONDOS	Q2 2023	2022	2021	2020	2019	2018
Number of Sales	47	130	315	144	140	214
Volume	$157,537,949	$359,939,459	$673,905,402	$321,397,970	$268,736,001

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KAANAPALI CONDOMINIUM MARKET UPDATE: Q2 2023 

Kaanapali Resort Condominiums

Kaanapali Condominiums

Kaanapali is home to several different condominium communities, with offerings ranging from studios to four-bedroom condominiums.  Located along Kaanapali Beach are the Kaanapali Alii and Whaler, and located on Kahekili are the Maui Kaanapali Villas, Honua Kai, Mahana and Maui Kai.  Surrounding the Golf Course, you'll find the Maui Eldorado, the Masters, Kaanapali Plantation, International Colony Club and Vintage.

Kaanapali Resort Condos	Q2 2023	2022	2021	2020	2019	2018
Number of Sales	39	148	237	159	168	173
Volume	$66,617,900	$247,257,475	$321,700,298	$212,877,531

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Introducing Alaeloa 38!

Alaeloa is a hidden gem nestled along the picturesque coastline of Napili.  This tranquil and idyllic enclave is home to just 42 residences situated on 13 beautifully landscaped oceanfront acres.  

Alaeloa 38 is a free-standing three-bedroom cottage with vaulted ceilings and a spacious covered lanai with views of the ocean and Molokai.  Nestled in a mango grove, the property has the charm and feel of Old Hawaii.

Located on the western coast of Maui, Alaeloa surrounds a pristine bay with stunning views of the Pacific Ocean and neighboring islands. This intimate and secluded bay provides a private haven to relax, soak up the sun, and listen to the soothing sound of waves gently lapping against the shore. The calm

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KAPALUA MARKET UPDATE: Second Quarter 2023

The view from 330 Cook Pine Drive in Pineapple Hill, Kapalua

KAPALUA RESIDENTIAL & VACANT LAND MARKET UPDATE

Kapalua's Residential Communities

Kapalua is comprised of several distinct communities, yet all flow together due to strong architectural and design guidelines: Pineapple Hill & Pineapple Hill Estates, Mahana Estates, Honolua Ridge, Plantation Estates Phases I and II, and Kapalua Place.  There are also three homes on oceanfront points within the Resort that aren't a part of a formal subdivision.

In the first two quarters of 2023, there were five home sales:

Address	Sold	Date	Beds	Baths	Sq. Ft.	Acres	DOM	$/Sq. Ft.	Subdivision	MLS #
708

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KAPALUA MARKET UPDATE: Activity through Q2 | 2023 

Kapalua Condominiums:  Market Update through Q2 | 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	Q2 2023	2022	2021	2020	2019	2018
Number of Sales	15

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Market Spotlight: Honua Kai June 16, 2023

The Honua Kai is Kaanapali's newest condominium development and one of the most desirable vacation destinations in West Maui.  Built in three phases along Kekaa Beach on the North Side of Black Rock, the Honua Kai is comprised of three separate sections: Hokulani (South Resort-SR-2008), Konea (North Resort-NR-2009) and Luana Gardens (2018).   

The Hokulani and Konea towers feature 627 studio, one, two and three-bedroom condominium residences.  The 10 story buildings have central air conditioning, elevators and underground parking.  The new addition of Luana Gardens weaves in a more contemporary residential component, with 72 three-bedroom residences.  These low rise, two-story buildings feature private

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KAANAPALI CONDOMINIUM MARKET UPDATE: Q1 2023 

Kaanapali Resort Condominiums

Kaanapali Condominiums

Kaanapali is home to several different condominium communities, with offerings ranging from studios to four-bedroom condominiums.  Located along Kaanapali Beach are the Kaanapali Alii and Whaler, and located on Kahekili are the Maui Kaanapali Villas, Honua Kai, Mahana and Maui Kai.  Surrounding the Golf Course, you'll find the Maui Eldorado, the Masters, Kaanapali Plantation, International Colony Club and Vintage.

 

How does the market through the first quarter of 2023 stack up for each community as compared with prior years?

A FIVE-YEAR OVERVIEW

Honua Kai: condos for sale All Buildings

International Colony Club condos for

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Maui Property Taxes Fiscal Year July 1, 2023-June 30, 2024
Changes: Classifications & Rates

Each year, Maui County does two things: assesses the value of the property AND sets new rates for the upcoming fiscal year, which runs from July 1st-June 30th.  Below is a snapshot of the new Maui County Property Tax Rates for 2023-2024 as well as a summary of how they've changed over the years.

How do you calculate your property taxes given the new tiered system?

Fidelity National Title put together this helpful video when the new tiered system was introduced in 2020.  Note the tier amounts have changed in 2022 from prior years.

Maui County Property Tax Rates 2023 vs Prior Years

Rates are per $1000 of assessed value.  In 2020, the County introduced a

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FAQ: Vacation Homes & 1031 Exchanges

1031 exchanges are common here on Maui, where many properties are second homes.  The following is a summary of the guidelines for Exchanging a Vacation Home as part of a 1031 tax deferred exchange.  The information outlined below is courtesy of Julie Bratton, of Old Republic Exchange Company.

IRS Guidance on Exchanging Vacation Homes:
Revenue Procedure 2008-16 Provides Safe Harbor 

Revenue Procedure (“Rev. Proc.”) 2008-16 provides a safe harbor for exchanges of vacation homes (defined as “dwelling unit” in the Rev. Proc.). This ruling provides clear guidance of the circumstances under which the IRS will not challenge whether a vacation home will qualify as property “held for investment” under §1031.   …

KAPALUA MARKET UPDATE: First Quarter 2023

The view from 330 Cook Pine Drive in Pineapple Hill, Kapalua

Kapalua Condominiums:  2018-Q1 2023

Kapalua 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.

Key Stats by Community

How does the market in the first Quarter of 2023 stack up for each community when

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