Maui Real Estate Market Overview and Buyer Statistics: 2022

Many Sellers want to know where buyers of Maui County real estate call home (in this case, their legal residence).  Historically, buyers originate largely from the state of Hawaii.  In total, there were just 38 sales to foreign nationals out of 2067 in 2022, accounting for just 2% of the sales volume (number of sales) and 4% of the dollar volume ($).   Buyers from the US represented 98% of the sales volume and 96% of the dollar volume.

The majority of Maui's buyers are Hawaiian residents, representing 67% of the sales volume (number of sales) and 56% of the sales volume ($).  California runs second with 15% of the sales volume and 19% of the dollar volume ($).  Washington follows as a

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Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market.  The report notes:

"Nationally, existing home sales jumped 14.5% month-over-month as of last measure, the first monthly gain in 12 months, and representing the largest monthly increase since July 2020, according to the National Association of REALTORS® (NAR). The sudden uptick in sales activity stems from contracts signed toward the beginning of the year, when mortgage rates dipped to the low 6% range, causing a surge in homebuyer activity. Pending sales have continued to improve heading into spring , increasing for the third consecutive month, according to NAR.

New Listings decreased 40.9 percent for Single Family homes and 46.2 percent for

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Introducing 330 Cook Pine Drive: elevated living in Kapalua's Pineapple Hill Community

Sunset at Pineapple Hill from 330 Cook Pine Drive

This is a rare offering of of one of only six homes on an oversized lot in Pineapple Hill.  This gracious estate is nestled on a hill overlooking the Pacific Ocean framed by the neighboring islands of Molokai and Lanai.  

This private ocean view estate is situated on approximately a half-acre in one of Kapalua’s most popular neighborhoods, Pineapple Hill. Remodeled in 2018 with a contemporary, elegant island inspired design, this home is one of the most secluded in the community. 

The main home is comprised of a spacious living room with a fireplace and soaring ceilings, a gourmet kitchen and ocean view

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Introducing Kapalua Bay Villas 35B2: oceanfront living in Kapalua

This is a rare offering of an oceanfront Kapalua Bay Villa located along the spectacular Kapalua coast.  This spacious one bedroom, two bathroom townhouse floor plan is situated overlooking Hāwea Point.  It has been beautifully renovated with thoughtful attention to detail.

At the Kapalua Bay Villas, the bridge-level townhouse floor plan is coveted as it offers ocean views from both the upstairs and downstairs living spaces. 

Downstairs the kitchen, living room and lanai are oriented to the view.  Upstairs, the spacious bedroom suite and upstairs lanai have views of the ocean and outer island of Moloka'i. 

The first thing that grabbed the owner's attention was the view of

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KAPALUA MARKET UPDATE: 2022 Year in Review

Kapalua Condominiums:  2017-2022

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 2022 stack up for each community when compared with prior years?

Coconut Grove on Kapalua Bay

In 2022, there were

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Spotlight on the Hawai'i Land Trust:

The Hawai'i Land Trust's popular annual Buy Back the Beach event is sold out, but you can participate remotely in supporting this incredible organization in their online auction. Bidders can choose from everything from local artwork and luxury goods from local designers to experiences like a private chef's tasting and helicopter adventures.

Bidding is now live:
https://hilt2023.ggo.bid/bidding/package-browse

Or you can volunteer for an upcoming workday in one of their sites on Maui, Kauai or Oahu

REGISTER AND COMPLETE A WAIVER FOR AN UPCOMING WORKDAY ON THE HILT.ORG WEBSITE

Waiheʻe Coastal Dunes & Wetlands Refuge, Maui 
Every Friday AND Third Saturday
Upcoming Saturday Volunteer Day: January 21st at 8

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Sotheby's International Realty has released its Luxury Real Estate Outlook Report for 2023, which provides insights into luxury real estate markets around the globe, issues with the supply chain, inventory, and guidance such as How to Sell a High End Home During Any Type of Market.  The report provides valuable observations for Maui's real estate market, particularly in the resort areas, where there was a significant change over in ownership in 2021.  There were fewer sales in 2022, which was not unexpected, as available inventory decreased dramatically.

Here is a snapshot of some of the key takeaways from the report: Strong Appeal for Luxury Properties, Despite Interest Rate Hikes Despite interest rate increases, luxury buyers

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KAPALUA MARKET UPDATE: December 6, 2022

Featured Listing: 322 Cook Pine Drive is a lot listed in Pineapple Hill

Kapalua Condominiums, Homes and Land

Kapalua Condominiums

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.

How does the market through December 6, 2022 stack up for each community?

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THE RITZ-CARLTON MAUI KICKS OFF THE HOLIDAYS WITH TREE LIGHTING CEREMONY ON DECEMBER 2, 2022     Photo courtesy of the Ritz-Carlton Kapalua   To kick off the holiday season and celebrate its 30th anniversary, The Ritz-Carlton Maui, Kapalua is proud to host a special Holiday Tree Lighting Ceremony on Friday, Dec. 2 from 5 p.m. to 8 p.m.     Guests will be delighted by the resort’s handcrafted gingerbread house and Santa’s grand arrival, then enjoy live music by Hawaiian legend Henry Kapono, keiki hula dancing, photos with Santa, a holiday craft fair, and the much-anticipated lighting of the trees.    “We are thrilled to welcome in the festive season and celebrate our milestone 30th anniversary with our guests, families, and local…

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market.  The report notes

"Existing home sales declined nationwide for the eighth consecutive month, falling 1.5% as of last measure, according to the National Association of REALTORS® (NAR), with sales down nearly 24% from the same period last year. Pending home sales also declined, dropping 10.9% month-to-month, exceeding economists’ expectations. Stubbornly high inflation and soaring borrowing costs have eroded buyer purchasing power and have caused the market to cool rapidly this year.

New Listings decreased 15.3 percent for Single Family homes and 50.0 percent for Condominium homes. Pending Sales decreased 52.4 percent for Single Family homes and 54.0

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