KAANAPALI CONDOMINIUM MARKET UPDATE: 2024 IN Review

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 2024 stack up for each community as compared with prior years?

A FIVE-YEAR OVERVIEW

Honua Kai

Honua Kai: condos for sale All Buildings

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

The Maui Real Estate Report for the second month of 2025 notes:

U.S. existing-home sales fell for the first time since September, slipping 4.9% month-over-month to a seasonally adjusted annual rate of 4.08 million units, according to the National Association of REALTORS® (NAR), as elevated home prices and higher interest rates continue to impact buyer activity. Despite the drop, sales were up 2% compared to the same period last year, marking the fourth consecutive monthly year-over-year increase.

New Listings increased 4.3 percent for Single Family homes but decreased 7.8 percent for Condominium homes. Pending Sales decreased 11.3 percent for

Market Spotlight: Pineapple Hill, Kapalua, Maui

Introducing 324 Cook Pine, Pineapple Hill

New to market is 324 Cook Pine Drive, Kapalua, Maui  

Welcome to Pineapple Hill, where elegance meets the effortless beauty of Maui’s world-renowned Kapalua Resort.

Perched in one of Maui’s most sought-after communities, this gracious home offers breathtaking panoramic ocean, island, and sunset views, seamlessly blending indoor and outdoor living. The expansive living room opens to sprawling covered lanais, creating an ideal setting for entertaining or tranquil relaxation. Enjoy the pool and spa, where whale-watching and Maui’s famed sunsets become part of your daily routine.

Upstairs, you’ll find three luxurious bedroom suites, including a primary

KAPALUA REAL ESTATE MARKET: 2024 IN REVIEW

The view from Kapalua Bay Villa 23B3, an oceanfront residence, currently listed for sale

Kapalua Condominiums:  A five year sales history

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*

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

The Maui Real Estate Report for the first month of 2025 notes:

U.S. existing-home sales advanced for the third straight month, climbing 2.2% to a seasonally adjusted annual rate of 4.24 million units, a 10-month high, according to the National Association of REALTORS® (NAR). Sales were up 9.3% year-over-year, driven largely by purchases of homes priced $500,000 and above. Month-over-month, sales rose in the South, Northeast, and the West but fell in the Midwest, with all four regions reporting year-over-year gains.

New Listings decreased 6.4 percent for Single Family homes but increased 8.6 percent for Condominium homes. Pending Sales decreased

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

The Year End MAUI Real Estate Statistics for 2024 report notes:

U.S. existing-home sales improved for the second consecutive month, rising 4.8% to a seasonally adjusted annual rate of 4.15 million units, an eight-month high, according to the National Association of REALTORS® (NAR). Sales were up 6.1% compared to the same time last year, marking the largest year-over-year increase since June 2021. Economists had forecast existing-home sales would come in at an annual rate of 4.07 million units for the month.

New Listings increased 13.4 percent for Single Family homes but decreased 7.7 percent for Condominium homes. Pending Sales decreased 32.8

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

The October MAUI Real Estate Statistics report notes:

U.S. existing-home sales unexpectedly slipped 1.0% month-over-month and 3.5% year-over-year to a seasonally adjusted annual rate of 3.84 million, the lowest level in more than a decade, according to the National Association of REATORS® (NAR). Prospective buyers have pulled back in recent months, despite lower mortgage rates and more home choices compared to the same time last year.

New Listings decreased 4.8 percent for Single Family homes but increased 13.0 percent for Condominium homes. Pending Sales increased 24.0 percent for Single Family homes and 3.1 percent for Condominium homes.

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

The report notes:

U.S. existing-home sales fell for the second month in a row, sliding 1.9% month-over-month and 1.9% year-over-year, according to the National Association of REALTORS® (NAR), with sales down in all four regions of the country. Higher borrowing costs and accelerating home prices continue to weigh on demand, pushing some prospective buyers to the sidelines and causing market activity to slump ahead of summer.

New Listings decreased 4.3 percent for Single Family homes but increased 101.9 percent for Condominium homes. Pending Sales decreased 18.3 percent for Single Family homes and 34.6 percent for Condominium homes. Inventory increased

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

The report notes:

U.S. existing-home sales recently fell from a one-year high, dropping 4.3% month-over-month to a seasonally adjusted annual rate of 4.19 million, according to the National Association of REALTORS® (NAR), as higher interest rates and rising sales prices continue to keep some prospective buyers on the sidelines. Average 30-year mortgage rates have topped 7% in recent weeks, while the median existing-home sales price hit $393,500 as of last measure, a 4.8% increase from the previous month, according to NAR.

New Listings increased 3.7 percent for Single Family homes and 36.6 percent for Condominium homes. Pending Sales increased 5.8

Maui's Resort Areas: a 9 Month Review of the Market for Condos and Homes 

How the past nine months compare with the same period in the prior year

Maui has been slowly recovering in the wake of the tragic fire of August 8, 2023.  Many buyers and sellers have asked me how the market is doing, so I've compiled some data for both condominium and home sales by area comparing the period from 8/8/23-5/8/24 with the same period in 22-23.

West and South Maui Condo Sales

The statistics show that sales are down primarily in West Maui, with the condominium market in Kapalua hit the hardest, with number of sales down -66% and dollar volume down 49%.  with uncertainty regarding the future of Short Term Rentals in the apartment zone, we are seeing more sales