Maui Real Estate Statistics: September, 2017
Posted by Courtney M. Brown on Monday, October 16th, 2017 at 3:24pm.
MAUI REAL ESTATE STATISTICS: Jan-Sept 2017 vs. Jan-Sept 2016
THE CONDO AND HOME MARKETS | Key Metrics
| KEY METRICS | New Listings | Pending | Sold | DOM | Med SP | Avg SP |
| Homes | +10% | +14% | +3% | -10% | +10% | +8% |
| Condos | -4% | +15% | +7% | -6% | +8% | +7% |
Comparing key metrics through September 2017 Year Over Year with 2016:
While there are more new home listings, there were fewer new condo listings through Sept. 2017. Other key indicators show increases in Pending Sales, Number of Sales, Median Sales Prices, and Average Sales Prices, while Days on Market till closing is down. Our busy season begins in Mid Nov, tends to quiet down first two weeks of December, and then remains active through till end of spring.
Below are Resort Market Comparisons showing Average and Median Sales Prices for Condos, Homes and Land, as well as Sales Volume both in number of sales and total dollar amounts. For more information on all areas of Maui read: Maui Real Estate Statistics.
A Resort Comparison by Area and Property Type:
Average and Median Sales Prices (SP)
Volume (# of Sales and $Volume)
Average Sales Price
| Area | Condos Avg SP | % Change | Homes Avg SP | % Change | Land Avg SP | % Change |
| Wailea/Makena* | $1,751,918 | +25% | $4,647,500 | +8% | $512,500 | -49% |
| Kapalua Resort** | $1,817,847 | -10% | $2,587,500 | -35% | $1,032,250 | -15% |
| Kaanapali | $1,082,399 | -6% | $2,006,514 | -1% | $699,000 | -1.3% |
| All MLS | $678,010 | +7% | $1,030,054 | +8% | $465,424 | -33% |
Median Sales Price
| Area | Condos Med SP | % Change | Homes Med SP | % Change | Land Med SP | % Change |
| Wailea/Makena* | $1,150,000 | +5% | $2,822,500 | -28% | $512,500 | -49% |
| Kapalua Resort** | $925,000 | -3% | $2,487,500 | -8% | $1,007,000 | -15% |
| Kaanapali | $780,000 | +5% | $1,700,000 | 0% | $643,500 | -15% |
| All MLS | $449,500 | -11% | $700,000 | +10% | $358,000 | -25% |
Sales Volume (# of Sales)
| Area | Condos Sold | % Change | Homes Sold | % Change | Land Sold | % Change |
| Wailea/Makena* | 105 | +33% | 22 | +22% | 2 | 0% |
| Kapalua Resort** | 40 | +54% | 6 | -46% | 4 | 0% |
| Kaanapali | 89 | -29% | 18 | +20% | 12 | -20% |
| All MLS | 1,048 | +7% | 826 | +3% | 169 | +42% |
Sales Volume ($)
| Area | Condos Sold | % Change | Homes Sold | % Change | Land Sold | % Change |
| Wailea/Makena* | $183,951,367 | +66% | $102,245,000 | +32% | $1,025,000 | -49% |
| Kapalua Resort** | $72,713,899 | +38% | $36,117,250 | +20% | $4,129,000 | -15% |
| Kaanapali | $96,333,540 | -33% | $15,250,000 | -65% | $8,028,000 | -21% |
| All MLS | $710,554,268 | +15% | $850,824,716 | +11% | $78,565,682 | -4% |
The resort market trends are also showing an upward trajectory in terms of Volume of Sales ($) for condos in the resort areas of Wailea, Makena and Kapalua, and down in Kaanapali. When looking at both condo and home sales, the volume and average/median sales prices are up in Wailea. However, while volume is up in Kapalua overall, the average and median condo and sales prices are down. Kaanapali's condo market is faring just slightly better than it's home market. Land sales often falter when home and condo sales are up, as building costs, length of time involved and isn't immediately ready for use.
It should be noted--with such a small sampling, the statistics can vary widely at any given time.
There is a misperception that the Wailea/Makena Market moves more inventory than the Kapalua Market, but what people often forget is the total numbers of condos and homes in each area are vastly different. Wailea/Makena are larger scale resorts, and Kapalua's master plan is for far less density.
Surprisingly, the percentage sold of properties YTD is remarkably the same for these two high end resorts, with 5% of total condominiums built selling in Wailea and Makena and in Kapalua. Homes and Land sold at 2% of total homesites in the Wailea/Makena Areas and 3% of total homesites in Kapalua.
| Area | Total Condos | Total Homes and Lots |
| Wailea/Makena* | 1877 | 1181 |
| Kapalua Resort** | 755 | 296 |
This information is provided by the Realtor's Association of Maui. It is believed accurate, but subject to change. Readers are advised to do their own due diligence.
*the Wailea/Makena figures do not include the new Discovery land project
**Kapalua Resort figures exclude Puna I and II. While these fall in the MLS district, they are not part of the resort. There is future development planned, so these figures do not include future development or project releases. One parcel in Plantation Estates II can be further subdivided into 8 parcels.
***Total Homesites--these are original subdivision figures for both condos and home sites. Some condo and some homesites have been combined to be one property. This is not reflected in the number above.
Above information on total properties is provided by Fidelity National Title and is believed to be accurate but is subject to change.
Courtney M. Brown, R(S) & Team
Vice President
Island Sotheby's International Realty