MARKET UPDATE | 2015
TABLE OF CONTENTS KAPALUA RESORT: 2015 with 2014 …………………………………………..………..………………….. CONDOMINIUMS …………………………………………………………………………………………… Golf Villas Ridge Villas Bay Villas Ironwoods Coconut Grove The Ritz-Carlton Residences, Kapalua Montage Residences, Kapalua Bay HOMES AND LAND ………………………………………………………………………………………….. Pineapple Hill and Pineapple Hill Estates Plantation Estates and Honolua Ridge Kapalua Place
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3-10 11-22
23-31
KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
The Kapalua Resort Where We’ve Been Since 2000: MLS Sales for Homes, Condominiums and Land YEAR
NO. SALES
LOW SP
AVG SP
MED SP
HIGH SP
VOLUME ($)
AVG DOM
SP/LP (%)
SP/Sq. Ft.
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
112 96 81 79 131 86 47 59 27 27 42 43 63 53 43
$295,000 $350,000 $369,000 $400,000 $500,000 $650,000 $740,000 $660,000 $625,000 $425,000 $425,000 $425,000 $330,000 $479,000 $620,000
$943,502 $1,241,072 $841,512 $1,374,142 $1,360,915 $1,848,647 $1,970,234 $2,526,388 $2,081,055 $2,130,610 $2,065,071 $2,013,113 $1,113,104 $1,744,620 $2,525,558
$525,000 $847,500 $841,512 $755,000 $885,000 $1,425,000 $1,479,000 $1,600,000 $1,300,000 $1,505,000 $1,487,500 $1,100,000 $676,000 $1,098,000 $1,412,500
$14,000,000 $5,200,000 $3,450,000 $8,227,000 $4,470,000 $9,470,000 $6,000,000 $13,940,000 $6,100,000 $10,000,000 $7,125,000 $14,000,000 $5,998,888 $9,700,000 $8,250,000
$105,672,250 $119,143,000 $68,162,500 $108,557,250 $178,279,875 $158,983,667 $92,600,999 $149,056,949 $56,188,500 $57,526,490 $85,733,000 $86,563,862 $70,125,531 $92,464,906 $108,598,999
206 408 225 267 188 179 243 262 198 421 346 473 379 222 313
93% 98% 93% 91% 94% 94% 91% 89% 92% 93% 903% 85% 89% 87% 95%
$335 $487 $365 $567 $533 $638 $781 $803 $919 $769 $771 $703 $550 $660 $943
2015
53
$640,000
$2,170,262
$1,599,888
$5,700,000
$115,023,936
305
95%
$959
*This data does not include the fractional sales at the Montage Residences Kapalua Bay
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
Year End 2015 www.LuxuryRealEstateMaui.com
KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KEY OBSERVATIONS 2014 & 2015 KAPALUA OVERALL: HISTORIC HIGHS AND LOWS The peak in Sales Volume (# of Sales and $ Volume) was 2004. Sales Prices peaked in 2007 The bottom since the overall Kapalua Resort Peak (2007*) was in 2012 *Note: prices and volume in some neighborhoods peaked in 2006, others in 2007. Overall, the median and average sales prices for Kapalua Resort homes, condominiums and vacant land peaked in 2007. In 2014, the Overall Kapalua Resort market was greatly impacted by the introduction of new and resale inventory at the Montage Residences, Kapalua Bay. Eight sales at the property ranged from $4.3M-$8.25M and comprised nearly $47M of the $108M sold in the resort. As such, all data in the latter half of 2014 was affected by those sales, particularly Average and Median Sales Prices. The same holds true for 2015, as 9 of the 53 sales were at the Montage Residences, Kapalua Bay with sales prices ranging from a low of $3,950,000 to a high of $4,900,000. There were 23% more properties sold in 2015, and there were some modest gains across the resort: Low Sales Price: +3%, Median Sales Price: +13% Sales Volume ($): +6%, Average SP($)/Sq. Ft.: +2% The average sales price was down -14%, perhaps best explained by three record high sales of four bedroom condominium residences at the Montage Residences, Kapalua Bay, with the high sales price down -31%.
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
Year End 2015 www.LuxuryRealEstateMaui.com
KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KEY OBSERVATIONS 2015 -The Peaks, Lows and where we are Now SINCE THE PEAKS: When examining the peaks, it’s important to again note: the Number of Sales and Sales Volume peaked in 2004. Average and Median Prices peaked in 2007. • Average Sales Price (-14%) Median Sales Price (0%), and High Sales Price (-59%).
THE BOTTOM: It appears that after peaking in 2007, the bottom of the Kapalua market was in 2012, most metrics are up with the exception of the High Sales Price, which can easily be swung by just one sale. • Low Sales Price (+94%), Average Sales Price (+95%) Median Sales Price (+137%), and High Sales Price (-5%).
The limited data points and concentration at the lower end and upper end of the condominium market spectrum also affects the sales data. Developer sales comprised a total of $51,747,436, or 45% of the total volume. • Montage Residences, Kapalua Bay: With 9 sales ranging from $3,950,000 to $4,900,000, totaling $40,770,000 in Sales Volume, the sales at the Montage Residences served to push up the Average Sales Price. • Ritz-Carlton Residences, Kapalua: Sales also began at the newly branded Ritz-Carlton Residences, Kapalua (formerly the Ritz-Carlton Residential Suites), after new ownership took over in early 2014. Sales here numbered 11, with one resale at $640,000, and the developer pricing ranged from $845,000 to $2,716,888, and totaling $16,252,436 in volume.
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
OUR MARKET NOW: at the time of this market update there were approximately 100 listings in the resort, down slightly from last year. Calculating the Absorption Rate, this equates to approximately 23 months of inventory available in the resort, about the same as 2014 (25 months), but higher than 2013 (21 months). While this is considered an overall BUYER’S MARKET, it is important to note that not all properties are viewed equally: sought after views and floorplans tend to move quickly in the marketplace, buyers have paid a premium for outstanding locations within the resort, and condominiums and homes tend to be in greater demand than vacant lots, as they allow for immediate use. Each neighborhood is different, with varying inventories and availability.
THE KAPALUA RESORT
2000-2015
Low, Average, Median and High Sales Price
$16,000,000 $14,000,000 $12,000,000 $10,000,000
LOW SP
$8,000,000
AVG SP MED SP
$6,000,000
HIGH SP
$4,000,000 $2,000,000 $0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KAPALUA RESORT
5.7 M
53
$
Highest Sale
Transactions
959
34
Avg. SP/Sq. Ft.
Sales over $1M
$
95 %
Sales/List Price
19 months Absorption Ra te
# of Transactions
Average Sales Price
Average Days on Market
Average $/SQ. FT.
43 53
$2,525,558 $2,170,262
398 305
$943 $959
23%
-14%
-23%
2%
$640,000 Low Sales Price Change:
$1,599,888 M edian Sales Price Change:
$5,700,000 High Sales Price Change:
$115,023,936 Sales Volum e Change:
3%
13%
-31%
6%
2014 2015
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KAPALUA CONDOMINIUMS
CONDOMINIUMS Number of Sales Total Volume ($) Low Sales Price Median Sales Price High Sales Price Average Days on Market Average SP ($)/Sq. Ft. Average List Price Average Sales Price Sold/List Price (%)
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2014 33 $78,176,999 $620,000 $1,204,000 $8,250,000 248 $1,065 $2,442,151 $2,368,999 97%
2015 41 $79,073,936 $640,000 $1,008,888 $4,900,000 297 $1,073 $1,969,564 $1,928,632 98%
% Change 24% 1% 3% -16% -41% 20% 1% -19% -19% 1%
KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
OBSERVATIONS Comparing 2015 with 2014, there was little change in the overall condominium market. While the number of sales increased, the average, median and total sales prices decreased. This can be attributed to three record-breaking sales in 2014 at the Montage Residences, Kapalua Bay at $7,500,000, $7,750,000, and $8,250,000 Note: The purchase of both the Montage Residences Kapalua Bay by Island Acquisition (in partnership with Lantern Asset Management) and The Ritz-Carlton, Kapalua by Honolua Associates (a partnership between Colony Capital and Woodridge Capital) in 2014 brought much needed stability to the Kapalua Resort. The Montage brand seems to be very well received and the prices commanded over the last year for these spacious three and four bedroom units have been record breaking. The Ritz-Carlton has rebranded the Residential Suites as the Ritz-Carlton Residences, Kapalua and began sales in 2015. Parts of their proposed changes are to convert the 107 condominium suites from having “kitchenettes” to operational kitchens (microwave/convection oven, small stovetop, refrigerator and dishwasher). The asking prices range from just under $1 million to a little over $2 million. There is also now financing available from an approved lender, making it easier to obtain financing. At the time of publication, the absorption rate for condominiums in Kapalua is 1.2 years. The notes above are my personal impressions and interpretation of the market data. They are not predictive of market trends or values and should not be relied upon as such. With such small samples, meaningful statistics can be hard to gather. They are subject to the circumstances at each individual property (renovations, assessments, etc.). Sales prices can vary dramatically based on view, location within the property, age and condition.
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
BAY VILLA 12B3
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KAPALUA CONDOMINIUM SALES 2015 BAY VILLAS M LS #
Unit
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
DO M
$/Sq. Ft.
360265 351446 362830
30-B1 31-G3-4-5 26B1
$895,000 $1,395,000 $1,195,000
$870,000 $1,285,000 $1,000,000
2/17/2015 3/10/2015 6/17/2015
1 2 1
1 3 1
1,006 1,529 1,006
312 1103 210
$865 $840 $994
COCONUT GROVE No Sales
GOLF VILLAS M LS #
Unit
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
DO M
$/Sq. Ft.
361776 362988 359792 364520 356008 360188 359692 361458 365364 362986
24P3/4 26P-3,4 23P3-4 21T1&2 27T7 14V3 16P3,4 26P5-6 24T1 15P3,4
$675,000 $850,000 $775,000 $767,000 $699,000 $829,000 $819,000 $949,000 $795,000 $720,000
$660,000 $800,000 $725,000 $767,000 $650,000 $775,000 $805,000 $918,000 $757,500 $660,000
1/14/2015 3/2/2015 3/27/2015 3/31/2015 4/15/2015 5/5/2015 5/6/2015 5/29/2015 12/21/2015 12/31/2015
2 2 2 1 1 2 2 2 1 2
2 2 2 2 1.5 2 2 2 2 2
1,344 1,344 1,384 972 987 1,344 1,344 1,344 1,089 1,344
153 92 387 53 720 393 434 315 186 395
$491 $595 $524 $789 $659 $577 $599 $683 $696 $491
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
THE IRONWOODS
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KAPALUA CONDOMINIUM SALES 2015 IRONWOODS M LS #
Unit
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
DO M
$/Sq. Ft.
360851 364088
103 102
$3,000,000 $3,750,000
$2,500,000 $3,650,000
6/8/2015 10/30/2015
2 3
3 4
1,935 2,425
370 249
$1,292 $1,505
MONTAGE RESIDENCES, KAPALUA BAY Whole Ownership Sales M LS #
Unit
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
DO M
$/Sq. Ft.
362000 361999 363018 361393 363968 365802 365330 362803 364237
1505 5404 5303 1402 1604 2704 1403 5602 1405
$4,600,000 $3,995,000 $3,950,000 $4,750,000 $4,600,000 $4,600,000 $4,750,000 $4,900,000 $4,625,000
$4,600,000 $3,995,000 $3,950,000 $4,750,000 $4,600,000 $4,600,000 $4,750,000 $4,900,000 $4,625,000
2/25/2015 3/5/2015 3/5/2015 4/17/2015 5/13/2015 8/18/2015 9/3/2015 9/11/2015 12/28/2015
3 3 3 3 3 3 3 3 3
3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5
2,789 2,789 2,789 2,904 2,789 2,789 2,904 2,789 2,789
170 178 98 277 92 21 83 298 297
$1,649 $1,432 $1,416 $1,636 $1,649 $1,649 $1,636 $1,757 $1,658
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
THE RIDGE 311
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KAPALUA CONDOMINIUM SALES 2015 MONTAGE RESIDENCES, KAPALUA BAY Fractional 1/12 th Ownership Sales M LS #
Unit
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
DO M
$/Sq. Ft.
361649 361650 362231 363967
4504 4502 3602 4604
$235,000 $230,000 $535,000 $295,000
$225,000 $190,000 $385,000 $275,000
2/12/2015 3/20/2015 5/15/2015 10/21/2015
2 2 3 2
2.5 2.5 3.5 2.5
1,776 1,776 2,087 1,776
193 228 249 253
$127 $107 $184 $155
RIDGE VILLAS M LS #
Unit
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
DO M
$/Sq. Ft.
361991 364571 362827 364600 365783 357809
621 1915 2122 1723-24 1614 1513-15
$679,000 $950,000 $650,000 $1,275,000 $788,800 $1,195,000
$679,000 $900,000 $640,000 $1,200,000 $760,000 $1,050,000
5/1/2015 6/26/2015 7/9/2015 8/12/2015 11/18/2015 12/17/2015
1 1 1 3 1 2
2 2 2 3 2 3
1,125 1,162 1,150 1,756 1,125 1,778
235 85 232 130 114 808
$604 $775 $557 $683 $676 $591
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
MONTAGE RESIDENCES KAPALUA BAY
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KAPALUA CONDOMINIUM SALES 2015 RITZ-CARLTON RESIDENCES ® KAPALUA M LS #
Unit
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
DO M
$/Sq. Ft.
365923 366466 366467 365137 366828 366829 366830 366831 367210 367355 367782
1402 1425 1427/1429 1502 1710 1711 1706/1708 1707/1709 1807/1809 1125 1817/1819
$688,888 $1,008,888 $2,716,888 $875,000 $1,207,888 $956,888 $1,838,888 $1,599,888 $2,304,888 $828,332 $2,304,888
$640,000 $1,008,888 $2,716,888 $845,000 $1,207,888 $956,888 $1,838,888 $1,599,888 $2,304,888 $828,332 $2,304,888
8/6/2015 9/18/2015 9/18/2015 10/9/2015 10/23/2015 10/23/2015 10/23/2015 10/23/2015 11/20/2015 11/30/2015 12/30/2015
1 1 2 1 1 1 2 2 2 1 2
1 1 3 1 1 1 2 2 2 1 2
872 872 1,646 872 878 870 1,325 1,323 1,323 872 1,323
31 352 352 135 387 387 387 387 415 425 455
$734 $1,157 $1,651 $969 $1,376 $1,100 $1,388 $1,209 $1,742 $950 $1,742
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
COCONUT GROVE 9
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KAPALUA HOMES AND LAND KAPALUA HO M ES Number of Sales Total Volume ($) Low Sales Price Median Sales Price High Sales Price Average Days on Market Average SP ($)/Sq. Ft. Average List Price Average Sales Price Sold/List Price (%)
2014 7 $24,197,000 $1,700,000 $3,250,000 $4,900,000
2015 10 $30,050,000 $1,975,000 $2,848,000 $5,700,000
% Change 43% 24% 16% -12% 16%
384 $765 $3,816,428 $3,456,714 91%
323 $678 $3,489,800 $3,005,000 86%
-16% -11% -9% -13% -5%
KAPALUA LAND Number of Sales Total Volume ($) Low Sales Price Median Sales Price High Sales Price Average Days on Market Average SP ($)/Sq. Ft. Average List Price Average Sales Price Sold/List Price (%)
2014 3 $6,225,000 $1,075,000 $2,075,999 $2,600,000
2015 2 $5,900,000 $1,400,000 $2,950,000 $4,500,000
% Change -33% -5% 30% 42% 73%
850 $10 $2,283,333 $2,075,000 91%
369
-57% -100% 31% 42% 8%
$2,997,500 $2,950,000 98%
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
OBSERVATIONS
HOME SALES: • Unlike 2014, which had fewer transactions than 2013, the Residential market has picked up steam in 2015 with the number of transactions up 43%, and sales volume up 24%. The Average Sales Price decreased slightly (-13%) • Seven of the home sales were in Pineapple Hill/Pineapple Hill Estates and three were in the Plantation Estates/Honolua Ridge communities. Two of the home sales in Pineapple Hill were short sales, both owned by the same entity. • Kapalua is fairly unique when compared with Wailea/Makena, as there are just 8 oceanfront Residential Parcels that are part of the resort: § 5 oceanfront home sites within the gated community of Kapalua Place, and 3 conservation-zoned, oceanfront peninsulas. With such limited residential opportunities oceanfront, this is one of the island’s most sought after communities. There are currently two oceanfront listings at Kapalua Place at $19,800,000 and $20,880,000. § AURA, the oceanfront house on the private peninsula between Mokuleia Bay and Honolua Bay is listed at $19,800,000. § At the time of this publication, the absorption rate for homes in Kapalua is 2.4 years.
UPCOMING: Mahana Estates is a new development situated on approximately 124 acres just south of the Plantation Estates. A 51 lot residential subdivision, this is the first phase of Kapalua Mauka. Preliminary plans are for homes to be built on lots ranging from .64 to 4.3 acres. The infrastructure is currently being put in place and construction on the first home package has yet to begin. If you would like more information as it is made available and to be notified when a sales program is announced, please contact me.
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
MAHANA ESTATES
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
LAND SALES: • • •
•
There were only two sales in 2015, compared with three in 2014. It is notable that one of the sales set a record high for recent years, at $4.5M for a home site on the 18th fairway of the Plantation Course. History: lots in Plantation Estates and Honolua Ridge may not be further subdivided, with the exception of one parcel that sold for $2.7M in 2013. Mahana Estates, part of Kapalua Mauka sold for $10M in 2009. The sale at $4.5M is the first single lot in the area and the market to be above $4,000,000 since 2007, the height of the market, when two 2530 acre parcels sold. The speculative market at Honolua Ridge at the time of the initial release has resulted in many properties being offered for sale. Motivated sellers, coupled with large acreage, have led to low Average Listing Prices/sq. ft. in that development. There were no sales in Pineapple Hill or Pineapple Hill Estates, which is not surprising given that there are only a handful of undeveloped lots left in the Pineapple Hill Community. As such, land is our slowest moving market segment, with an absorption rate of 5.5 years for the inventory at the time of this publication.
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
212 PLANTATION CLUB DRIVE
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KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
PINEAPPLE HILL AND PINEAPPLE HILL ESTATES HOMES M LS #
Address
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
Acres
DO M
$/Sq. Ft.
362768 365157 357270 361861 363062 363186 358189
107 Pulelehua St 616 Silversword Dr 514 Pacific DR 338 Cook Pine Dr 118 Pulelehua Pl 1002 Sunset Pl 108 Pulelehua St
$2,750,000 $1,985,000 $2,850,000 $2,099,000 $3,800,000 $1,975,000 $3,950,000
$2,500,000 $1,985,000 $2,275,000 $2,099,000 $3,350,000 $1,975,000 $3,196,000
9/11/2015 7/31/2015 6/26/2015 6/25/2015 5/15/2015 4/17/2015 3/16/2015
4 3 4 4 4 4 4
4 3.5 4.5 4.5 4.5 3.5 4.5
3,715 3,646 3,704 4,088 4,129 3,656 4,830
0.47 0.24 0.22 0.23 0.47 0.33 0.58
301 62 683 303 163 126 502
$673 $544 $614 $513 $811 $540 $662
LAND
NO SALES DATA
HONOLUA RIDGE HOMES M LS #
Address
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
Acres
DO M
$/Sq. Ft.
363044
130 Keoawa St
$3,495,000
$3,395,000
5/26/2015
4
4.5
3,550
3.52
174
$876
LAND
NO SALES DATA
Year End 2015 www.LuxuryRealEstateMaui.com
KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
199 PLANTATION CLUB DRIVE
Year End 2015 www.LuxuryRealEstateMaui.com
KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
PLANTATION ESTATES HOMES M LS #
Address
List Price
Sold Price
Date
Beds
Baths
Sq. Ft.
Acres
DO M
$/Sq. Ft.
356825 362346
102 Honolua Pl 197 Plantation Club
$7,695,000 $4,299,000
$5,700,000 $3,575,000
6/3/2015 5/22/2015
4 4
5.5 5
6,509 4,569
2.82 2.00
701 222
$760 $782
LAND M LS #
Address
List Price
Sold Price
Date
Acres
DO M
$/Sq. Ft.
356840
104 Honolua Pl
$1,495,000
$1,400,000
6/3/2015
2.18
706
$15
365375
214 Plantation Club Dr
$4,500,000
$4,500,000
6/19/2015
2.05
33
$50
Year End 2015 www.LuxuryRealEstateMaui.com
KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
KAPALUA PLACE
Kapalua Place is one of Maui’s most desirable and sought after communities. There are just eight home sites, five of which are beachfront at Oneloa Bay. Only one lot remains undeveloped. There are two homes on the market at the time of this update, priced from $19,800,000 to $20,880,000
Year End 2015 www.LuxuryRealEstateMaui.com
KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.
For more information on the Kapalua Resort Including active listings, market summaries, and updates:
COURTNEY M. BROWN, REALTOR (S) VICE PRESIDENT ISLAND SOTHEBY’S INTERNATIONAL REALTY REALTOR (S) OF THE YEAR 2014 | REALTOR’S ASSOCIATION OF MAUI LUXURYREALESTATEMAUI.COM cb@LuxuryRealEstateMaui.com 808.250.0210
© Courtney M. Brown, REALTOR. All Reserved. The material contained in this report is based on information that is considered reliable, however, as it has been supplied by third parties. We cannot represent that it is accurate or complete, and it should not be relied upon as such. MLS data from the Realtor’s Association of Maui has been provided by other sources and should be independently verified. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information. Data used in this report was only for properties within the Kapalua Resort and varies from the MLS district of Kapalua. It does not include the condominiums at Puna Point or homes/land that aren’t part or could not be a part of the Kapalua Resort Association. The report includes data reported to the MLS by members of the Realtor’s Association of Maui and may not detail all property sales, such as those that change hands without the involvement of a Realtor.
Year End 2015 www.LuxuryRealEstateMaui.com
KAPALUA RESORT MARKET REPORT Island Sotheby’s International Realty This report is based on information gathered from the Maui MLS system. It is based on third party reporting, and cannot be guaranteed as it may not reflect all activity in the market. No portion of this work may be utilized or reproduced without the author’s permission.