Kapalua Real Estate: Market Spotlight 2016 Q-1

The Kapalua Resort offers many options to prospective buyers--everything from condos to homes, and even fractional ownership Residences at Kapalua Bay.  The following is a market overview for each market segment as of this posting:

Kapalua Homes:

Active Listings: 22
Price Range: $2,495,000 to $20,880,000
Average List Price: $6,53,790
Size Range: 3,522 sq. ft. to 12,072 sq. ft.

Pending Sales: 4
Price Range: $2,495,000 to $6,500,000
Average Listing Price: $3,621,250

Sales YTD: 5
Price Range: $2,150,000 to $4,950,000
Average Sales Price: $3,370,000

Sales 2015 YTD: 1
Price: 3,196,000

Commentary: There are five primary residential areas in Kapalua: Pineapple Hill and Pineapple Hill Estates, Kapalua Place, Honolua Ridge and the Plantation Estates.   2016 sales represent a significant increase in the number of sales over the same period last year: VIEW ALL KAPALUA HOMES FOR SALE.

Kapalua Condominiums:

Active Listings: 71
Price Range: $595,000 to $8,750,000
Average List Price: $1,620,105
Size Range: 870 sq. ft. to 4,055 sq. ft.

Pending Sales: 8
Price Range: $760,000 to $4,500,000
Average Listing Price: $1,844,250

Sales YTD: 5
Price Range: $650,000 to $3,125,000
Average Sales Price: $1,302,076

Commentary: 
Sales 2015 YTD: 9
Price Range:  $660,000 to $4,600,000
Average Sales Price: $1,961,333

Properties are spending a little less time on the market (231 vs. 282 days), however, there have been less sales and a decline in average sales price.  It should be noted that just one or two sales can change the averages, particularly with high price points at the Montage Kapalua Bay. It may also be that some potential condo buyers elected to purchase homes instead, causing a bump in residential sales which are perceived as good values relative to some of the pricier condominiums.  Condominium neighborhoods in Kapalua include the Coconut Grove, Kapalua Bay Villas, Kapalua Golf Villas, Kapalua Ironwoods, Kapalua Ridge Villas, Montage Residences, Kapalua Bay and the Ritz-Carlton Residences, Kapalua.  VIEW ALL KAPALUA CONDOS FOR SALE

Kapalua Fractional (1/12th Ownership):

Active Listings: 22
Price Range: $199,000 to $395,000
Average List Price: $296,045
Size Range: 1,774 sq. ft. to 2,087 sq. ft.

Pending Sales: 0

Sales YTD: 1
Price: $225,000

Commentary: 
Sales 2015 YTD: 2
Price Range:  $190,000 to $225,000
Average Sales Price: $207,500

The fractional market is a new one to Kapalua, with former Ritz-Carlton Club Residences now being sold at the property now known as the Montage Kapalua Bay.  Only 177 fractional interest sold in the original launch, and there are no new developer offerings.  Resales are limited to this original existing ownership group.  VIEW ALL KAPALUA FRACTIONAL LISTINGS FOR SALE

Kapalua Vacant Land:

Active Listings: 12
Price Range: $835,000 to $3,000,000
Average List Price: $1,512,166
Size Range: .23 to 15 acres

Pending Sales: 0

Sales YTD: 2
Price Range: $925,000 to $1,450,000
Average Sales Price: $1,187,500

Commentary: 
Sales 2015 YTD: 0

Commentary: Vacant land has been hit hardest in the Kapalua real estate market since the bottom in 2012.  Land sales have historically lagged behind home sales as they present a longer time investment with regard to planning and building.  Many resort buyers are looking for ease of use, like a home or a condo.  However, when home prices are high and land prices low, you do see buyers move into the land market so that they can build exactly what they want in a home. There are five primary residential areas in Kapalua: Pineapple Hill and Pineapple Hill Estates, Kapalua Place, (note there is only one undeveloped lot in this oceanfront community) Honolua Ridge and the Plantation Estates.  VIEW ALL KAPALUA LAND FOR SALE.