Kaanapali Real Estate: Market Spotlight 2016: Q-1

The View from Kaanapali Alii 4-802, pending sale

One of Maui's most popular resort communities, Kaanapali offers a wide range of options including vacation rental and residential condominiums, homes and land.  With the first quarter of the year behind us, the following is an overview for each market segment comparing the first quarters of 2015 and 2016:

Kaanapali Condominiums

Active Listings 2016 Q-1: 224
Active Listings 2015 Q-1: 228
Percent Change: -2%

Sales 2016 Q-1: 32 | $40,386,500
Sales 2015 Q-1: 38 | $48,462,650
Percent Change: -16% | -17%

Average Sales Price 2016 Q-1: $1,262,078
Average Sales Price 2016 Q-2: $1,262,078
Percent Change: 1%

Kaanapali Homes

Active Listings 2016 Q-1: 50
Active Listings 2015 Q-1: 45
Percent Change: 11%

Sales 2016 Q-1: 4 | $11,030,000
Sales 2015 Q-1: 9 | $18,494,000
Percent Change: -56% | -40%

Average Sales Price 2016 Q-1: $2,757,500
Average Sales Price 2016 Q-2: $2,054,999
Percent Change: 34%

Kaanapali Land

Active Listings 2016 Q-1: 60
Active Listings 2015 Q-1: 53
Percent Change: 13%

Sales 2016 Q-1: 7 | $4,557,500
Sales 2015 Q-1: 3 | $1,782,000
Percent Change: 133% | 156%

Average Sales Price 2016 Q-1: $651,071
Average Sales Price 2016 Q-2: $594,000
Percent Change: 10%

Summary:  Looking at all three property categories, the number of sales are down -14%, and total sales volume is down 19%.  The average sales price is only down -5%.  Essentially, fewer properties are selling, but those that are selling are commanding higher values.  We are starting to see an increase in listing inventory when looking at individual categories, but it actually remains fairly steady at only a 2% increase overall.

Condominium communities in Kaanapali include the Honua Kai, International Colony Club, Kaanapali Alii, Kaanapali Plantation, Kaanapali Royal, Mahana, The Masters, Maui Eldorado, Maui Kai, the Vintage, and The Whaler.