Kapalua Resort Market Update
While sales in the Kapalua Resort market have been slower than in years past, it’s noteworthy that the market is showing signs of improvement over the past month. In fact, there are currently six escrows reported in MLS:
- Golf Villa, 2B/2B, $658,000, Original Condition
- Golf Villa, 2B/2B, $750,000, Original Condition
- Ridge Villa, 1B/2B, $899,900, Renovated
- Bay Villa, 1B/1B, $799,000, Gold Oceanview
- Bay Villa, 1B/1B, $1,395,000, Gold Oceanfront
- Pineapple Hill Home, 4B/4.5B, $2,645,000
The majority of the sales are at the lower end pricepoint of the available inventory/view category for each neighborhood. The Golf Villas have seen the majority of the sales activity, with four closings and two pending sales. Homes in Pineapple Hill phase I run a close second, with four sales, and one pending sale. The Bay Villas have also seen an increase in activity, with two sales, and two pending sales. The pending sale at the Ridge Villas is the first for this year. The markets at the Ironwoods, Coconut Grove, and Plantation Estates/Honolua Ridge remain flat, with no sales or pending sales year to date.
Here are two charts* that you may find helpful in evaluating the Kapalua Resort real estate market, comparing the activity in the last two months, as well as this year vs. last year.
*this total does not reflect developer sales, namely the four Residences that have sold to private individuals, nor the 15 to Exclusive Resorts