February 9, 2012

Aloha from Kapalua!

I hope this finds you and yours well and enjoying the new year! The new year is often associated with new beginnings, and for me, in 2012, that holds true. After nearly twelve years with Kapalua Realty, I have been offered a position with Island Sotheby's International Realty. Rob Shelton, Ben Willis, and I all joined to start their West Maui team.

I am thrilled to be affiliated with a company with an incredible reputation locally and a global reach. Not only will you be able to view my listings and those on Maui on my website, but also on www.IslandSIR.com and www.SothebysRealty.com

I will still be based in Kapalua, and continue to specialize in Oceanfront, Golf Course, and Resort Properties in Kapalua, Napili, Kaanapali, Launiupoko, and Wailea/Makena

My contact information remains the same:
808.250.0210
cb@LuxuryRealEstateMaui.com

Now onto the real estate market update! With regard to the market in the Kapalua Resort, I've updated the Kapalua Resort Annual Sales Reports, which show how sales in 2011 compared with prior years for the Resort, Condominiums, Homes, Land, and each neighborhood. You can view these reports in the Market Reports section of the website. In 2011, the sales in the resort compared with the market peaks as follows:

  • Total Number of Sales: 131 in 2004 vs. 43 in 2011 (-67%)
  • Average Sales Price: $2,526,388 in 2007 vs. $2,013,133 in 2011 (-20%)
  • Total Sales Volume: $178,279,875 in 2004 vs. $86,563,863 in 2011 (-51%)

In short, 2011 continued the trend of 2010, with a concentration of sales at the low end of each market segment and record high sales. This seems to be continuing with a Coconut Grove sale recording last week at $5,000,000. The average sale prices for condominiums and homes are only down a little over 20% since the peak. Vacant land prices have been hit the hardest, with average sales prices down 57% since the peak. I'll be posting a more thorough analysis to my blog in the near future.

At the time of this posting, the following is a snapshot of the current market here in West Maui:

Current Market Kapalua Kaanapali Launiupoko Oceanfront Homes
Active Listings 101 268 32 8
Condos 66 180 NA NA
Homes 21 43 16 8
Vacant Land 14 45 16 NA
Short Sale 3 6 0 0
Bank Owned (REO) 1 2 0 1
Low List Price $420,000 $200,000 $411,000 $699,500
Average List Price $2,289,342 $1,276,552 $1,831,187 $7,359,812
High List Price $9,950,000 $23,800,000 $5,900,000 $23,800,000
Avg Days on Market 319 306 247 263
Pending Sales 8 24 2 0
Short Sale 1 6 0
Bank Owned 1 3 0
Closed Sales 7 25 2 0
Short Sale 1 2 0
Bank Owned 1 1 0
Low Sale $515,000 $185,000 $850,000
Average Sale $2,184,429 $499,848 $1,215,000
High Sale $5,000,000 $1,009,900 $1,580,000
DOM 130 296 97
Total Volume $15,291,000
$12,496,200 $2,430,000

Each month, along with local event updates, you will find sales statistics for the entire island posted to Courtney's Blog, as prepared by the Realtor's Association of Maui. I'm often asked how the real estate market in Kapalua, or an individual property, is doing compared with prior years. I've prepared annual market summaries comparing such data points as number of sales, dollar volume, average sale price, and days on market. You can view these annual comparison reports for each neighborhood, as well as each market category, along with a market snapshot of the last year's sales for the Kapalua Resort in the Market Report section of the website. Annual and Monthly Statistics can be found on the Market Reports section. And, if you are missing Maui's great food, you'll find some wonderful recipes in Local Flavors. Enjoy!

Click Below for MLS Market Summaries including Active Listings, Pending Sales, and Sales from the prior year to date of posting for Homes, Condominium Properties, and Land in the Kapalua Resort, Kaanapali, and Napili

arrow

Kapalua

arrow

Kaanapali

arrow

Napili

arrow

Oceanfront

 

View Listings in Kapalua, Kaanapali, Napili, and Oceanfront Properties island wide!

arrow

Kapalua

arrow

Kaanapali

arrow

Napili 

 arrow Launiupoko/Olowalu arrow

Oceanfront

arrow Wailea/Makena

 

 

Thank you for making this your resource for news in Kapalua and on Maui. Please forward the link www.LuxuryRealEstateMaui.com/newsletter.asp to a friend or associate that might appreciate this information.
 
Care was taken in preparing this information.  All information is taken from the Maui Multiple Listing Service, and is deemed accurate, but is subject to change and should not be relied upon without verification. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Please note that listings in the MLS represent many different broker's listings and sales, and are not just those of Kapalua Realty. At times, those noted in the pending or sold categories may have never been active in MLS, but rather put immediately in the pending/sold or may be . All listings are fee simple unless designated leasehold. All Summary Charts are © 1995 to present, Realtor's Association of Maui, Inc. All rights reserved.