Posted by Courtney M. Brown on Wednesday, May 3rd, 2017 at 1:31pm.
Since sales began at the newly branded Montage Residences, Kapalua Bay in 2014, the property has undergone a tremendous boost in sales with a 139% increase in sales volume ($) with 7% fewer sales.
The View from Montage Residences, Kapalua Bay 1205
Active Listings: 7
Price Range: $3,495,000 to $7,750,000
Pending Sales: 3
Price Range: $4,500,000 to $4,900,000
Sales Volume Prior to Rebrand: 28 sales totaling $53,747,552
Sales Volume Since Rebrand: 26 sales totaling $128,555,000
Sales initially began in 2009 while the property was branded the Ritz-Carlton Residences, Kapalua Bay. This was just after our market peak in 2007/2008, which was unfortunate market timing resulting in foreclosure. We saw a decline in average sales price and sales price per square foot as the property went through the foreclosure process.
Acquired by Island Acquisitions in 2012, the new ownership undertook extensive renovations to the property and re-branded it a Montage Residences.
Since then, we've seen four record breaking sales for West Maui, ranging from $7,500,000 to $8,650,000 for the four bedroom oceanfront residences. Prior to that, the highest condominium sales had been as follows:
From the chart below, you can see that the Sales Volume, both in terms of number of sales and dollar volume, has increased dramatically since the rebranding.
In addition, with the record breaking sales of the four bedroom units, of which only 8 were built, we saw a logical and dramatic increase in sales price per sq. ft. and average sales prices when 3 of the grand residences sold in 2014.
Please contact me for more information on the remaining developer units at the Montage Residences Kapalua Bay.
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