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

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

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

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

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.

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

Kapalua Resort, Maui: residential market update

Featured: 222 Crestview, a home for sale in Pineapple Hill, is listed by Courtney M. Brown

Kapalua Homes for Sale: Active and Pending Listings

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.

At the time of this post, there are just seven active listings and no pending sales.

Kapalua Homes for Sale:

Homes for sale in Kapalua range from $4,250,0000 to $41,900,000.  They

KAANAPALI RESIDENTIAL MARKET UPDATE: Q3 2022 

Kaanapali Resort Residential Communities

Kaanapali Homes

Kaanapali is home to several different residential communities, with offerings running from smaller home sites to large acreage, and from Mauka to Makai.   Located on Kahekili is the Kai Ala Drive development with just six oceanfront parcels.  The remainder of the residential developments are Mauka of the highway: the Kaanapali Hillside, Royal Kaanapali Estates, Kaanapali Vista, Kaanapali Golf Estates, and Kaanapali Coffee Farms.  Within the Kaanapali Golf Estates are smaller subsections including the Pinnacle, Kahua Kai, Summit and Lanikeha. 

How does the market through the end of the third quarter of 2022 stack up for each

KAANAPALI CONDOMINIUM MARKET UPDATE: Q3 2022 

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 end of the third quarter of 2022 stack up for each community?

A FIVE-YEAR OVERVIEW

Honua Kai: All Buildings

International Colony Club

Kaanapali Alii

Kaanapali Plantation

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

"New Listings decreased 39.3 percent for Single Family homes and 52.7 percent for Condominium homes.
Pending Sales decreased 30.7 percent for Single Family homes and 36.0 percent for Condominium homes.
Inventory increased 7.8 percent for Single Family homes and 9.7 percent for Condominium homes.
Median Sales Price increased 3.0 percent to $1,025,000 for Single Family homes and 9.7 percent to $800,000 for Condominium homes. Days on Market increased 10.7 percent for Single Family homes but decreased 31.5 percent for Condominium homes.
Months Supply of Inventory increased 45.0 percent for Single Family homes and 50.0 percent for Condominium