Posted by Courtney M. Brown on Thursday, September 15th, 2016 at 1:59pm.
Since opening to the public in 2014, the Montage Kapalua Bay Hotel and Residences has been gathering some of the hospitality industry's most coveted awards and accolades. In 2016 it was awarded 5-stars by Forbes, and named the #1 Best Resort Hotels in Hawaii and #4 Best Hotels in the World by Travel and Leisure. The Spa Montage (Conde Nasté Reader's Choice Awards, 2015 20 Best Spas) and its flagship restaurant, Cane & Canoe (Maui No Ka Oi Magazine, Best Innovative Menu, 2016 and Best New Restaurant, 2015) have also been recognized.
With a focus on five star service and amenities, and its incredible setting, it's no surprise the private residences are also proving to be very desirable purchases, setting record high sales for condominium residences in West Maui. Adding to the location and spacious size (residences range from 2,789 to 4,055 sq. ft.), owners have the option of renting the residences when not in use due to the hotel zoning.
Now offered at $5,795,000 this private residence is positioned overlooking the crescent shaped beach at Maui's famed Kapalua Bay, with views of the outer islands of Molokai and Lanai. This three bedroom residence enjoys a private yard beyond a large sheltered lanai, perfect for taking in the ocean views and sunset.
Active Listings: 9 in MLS. Three are resales, and the remainder are developer inventory. There is some developer inventory not actively listed but available. Inquire for more information.
Price Range: $3,550,000 to $8,750,000
Average LP:
Average LP/Sq. Ft.: $1651
Pending Sales: 3
Price Range: $3,600,000 to $4,500,000
Sales YTD: 6
Price Range: $3,125,000 (resale), and $3,850,00 to $8,650,000 (developer)
Average Sales Price (all): $4,795,888
Average SP/Sq. Ft (all).: $1551
Montage Residence 5202 is currently the lowest priced offering in the MLS at $3,550,000. Located in the desirable 02 stack in building 5, this residence features an ocean view lanai with sweeping views of the coast and the outer islands off the living room and master bedroom, as well as a private garden lanai off the guest master. This is an exceptional value in this five star property.
Originally developed as a Ritz-Carlton Club and Residences and offered in 2009, the property was offered with 84 whole ownership private condominium residences and 64 fractional (1/12) ownership residences interests. There were 13 Initial sales to the public that ranged from $2,800,000 to a high of $5,735,000. There was a block of 15 residences purchased by Exclusive Resorts for $56,574,392.
Poor market timing of the launch led to foreclosure. Island Acquisitions, formed by capital group Lantern Asset Management, became the new owner in early 2013, with 56 private residences as their holdings, along with unsold fractional interests (there were 177 of 744 fractional interests sold in the original offering).
After extensive upgrades were made to the property, it was rebranded and launched as the Montage Kapalua Bay. Unsold fractional interests became hotel inventory. Sales of the private residences commenced in the summer of 2014, and have since brought in record high values for West Maui condominiums. In all, there have been 23 sales since the rebranding as the Montage Residences Kapalua Bay.
Sales Since Re-Launch 2014:
Price Range: $3,125,000 (resale) and $3,850,000 to $8,650,000 (developer)
Average SP (all): $5,057,826
Average SP/Sq. Ft. (all): $1638
For more information on both resales and developer offerings at the Montage Residences Kapalua Bay, please contact Courtney.
Residential
1 Bay Dr, Unit 6302, Kapalua, HI
MLS® #403635
Listed By: Compass
Office Contact: Cell: 808-385-0882
This Is A Turnkey Opportunity At The Magnificent Montage Residences At Kapalua Bay. Secluded And Tranquil, Stand Alone Building 6, The Molokai Wing, Sits Conveniently Positioned With Its Own Separate Driveway To This Coastal Resort. Unit 6302, With Private ...
Residential
1 Bay Dr, Unit 4505, Kapalua, HI
MLS® #403602
Listed By: Compass
Office Contact: Cell: 808-283-3436
Rare, Turnkey 5th Floor Elevation Hotel Residence At Montage Kapalua Bay- One Of The Highest Locations On The Property, Offering A "premier Oceanview Residence" Category. This Home Is Hotel-zoned For Nightly Rentals In A 5-star Resort Allowing Access To Mon...
Residential
1 Bay Dr, Unit 2202, Kapalua, HI
MLS® #402167
Listed By: West Maui Land Company Inc
Located In A Private And Serene Portion Of The Luxury Resort Known As The Montage Residences Kapalua Bay, Unit 2202 Awaits Your Arrival! Conveniently Located On The Ground Floor, This Grand Residence 3-bedroom, Den, 3.5 Bathroom Property Is Centrally Locate...
Residential
1 Bay Dr, Unit 1502, Kapalua, HI
MLS® #400821
Listed By: Compass
Office Contact: Cell: 808-283-3436
This Oceanfront Penthouse Occupies A Prime Location At Montage Kapalua Bay, Offering Breathtaking, Unobstructed Views Of The Sparkling, Sapphire Blue Waters Of The Pacific Ocean, And The Islands Of Lana'i And Moloka'i. Enjoy Kapalua’s Best With Picturesque ...
Residential
1 Bay Dr, Unit 1204, Kapalua, HI
MLS® #400442
Listed By: Compass
Office Contact: Cell: 808-283-3436
This Exquisitely Furnished Residence Offers Luxury Resort-style Living, Elevating The Experience Of Coastal Elegance To New Heights. With Direct Oceanfront Access And A Walkout To A Tropical, Grassy Lawn Area, This Second-floor Elevation Home Presents An In...
Courtney M. Brown, R(S) & Team
Vice President
Island Sotheby's International Realty