STAY. PLAY. LIVE. Market Spotlight on The Residential Suites at The Ritz-Carlton Kapalua:
The Ritz-Carlton, Kapalua has long been one of Maui’s most luxurious destinations. The Ritz-Carlton, Kapalua offers guests access to a stunning white sand beach, D. T. Fleming Beach, which was named America’s Best Beach in 2006. The resort’s amenities include The Ritz-Carlton Spa®, Kapalua, six restaurants, a fitness center, tennis courts and basketball courts, all situated on 54 lushly landscaped acres. With the creation of the Residential Suites, it is now possible to call this luxury resort home.
Now offering Residential Suites 1402, at The Ritz-Carlton Kapalua
Residential Suites 1402 at the Ritz-Carlton Kapalua:
The Residential Suites combines the comforts of home with all of the amenities you would expect at The Ritz-Carlton, Kapalua. Asking just $670,000, this one-bedroom, one-bathroom Residential Suite is one of the lowest priced condominiums currently available in the Kapalua Resort. Two private lanais overlook tropical gardens, while the interior features a spacious living room with a kitchenette, an elegant bedroom suite.
Beautifully furnished and offered turn-key, the Residential Suites 1402 features artwork and decor inspired by the island of Maui. The ground floor position allows for indoor/outdoor living and easy access to the pools nearby. A dedicated Owner’s Concierge team is available to assist owners with the management of their residence.
About the Residential Suites at the Ritz-Carlton Kapalua:
In 2007, the hotel underwent an extensive renovation in 2007, at which time, the north (Honolua) wing was converted into 107 one and two bedroom condominium suites, which were then offered for sale as the The Ritz-Carlton Kapalua Residential Suites. At the time of the initial offering 34 suites were purchased. Since then, there have been four resales to record in MLS:
|MLS #||Suite||List Price||Sold Price||Date||Beds||Baths||Liv-SF||DOM||$/Sq. Ft.|
Resales have ranged from $700,000 for a one bedroom garden view residence to $1,850,000 for an oceanfront two bedroom suite with a full kitchen. The two-bedroom suites offer the functionality of lock offs, creating a one bedroom suite and a hotel room.
In February, 2014, the Ritz-Carlton, Kapalua hotel was purchased by Honolua Associates LLC (formed by Woodridge Capital and Colony Capital partners), who acquired 73 unsold Residential Suites and 296 hotel rooms in the south wing, as well as common areas and commercial spaces. It is unknown what the new ownership will do with the remaining Residential Suites, though I anticipate they could be offered for sale in the near future.
Please contact me for more information on The Residential Suites 1402 and the Kapalua Resort.