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The Kapalua resort Real estate market update 2015 mid-year review


MID-YEAR 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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3-7 10-20

21-26

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 $108,595,999

206 408 225 267 188 179 243 262 198 421 346 473 379 222 398

93% 98% 93% 91% 94% 94% 91% 89% 92% 93% 90% 85% 89% 87% 95%

$335 $487 $365 $567 $533 $638 $781 $803 $919 $769 $771 $703 $550 $660 $943

Q2 | 2015

29

$650,000

$2,299,793

$1,975,000

$5,700,000

$66,694,000

320

92%

$817

*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.


Quarter 2 | 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 Q2

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 $108M sold in the resort. As such, all data in the latter half of 2014 was affected by those sales, particularly Average and Median Sales Prices. While there were fewer properties sold in 2014 (-19%) and properties spent a longer time on the market (+79%), there were notable gains across the resort: Low Sales Price: +29%, Average Sales Price: +45%, Median Sales Price: + 29%, Sales Volume ($): +17%, Average SP($)/Sq. Ft.: +43% THE MARKET IN 2015: Comparing where we are now to the same period in 2014, as well as the highs and lows of the market. • In the first half of 2015, there were 29 sales as compared with 20 in the first half of 2014 • When looking at the first half of 2015, almost all market indicators are up: the number of sales is up (+45%), Low Sales Price (+5%), Average Sales Price (+16%) Median Sales Price (+48%), High Sales Price (+14%) and Sales Volume (+68%). As one might expect, Average Days on Market is down -20%, and the only anomaly is a slight change in Average Sales Price/Sq. Ft., which is down just -3%.

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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.


KEY OBSERVATIONS 2015 | Q2 -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. • Low Sales Price (-12%), Average Sales Price (0%) Median Sales Price (-12%), and High Sales Price (-41%).

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 (+97%), Average Sales Price (+107%) Median Sales Price (+192%), 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. A majority of the sales were at the Golf and Ridge Villas (under $1M) and the Montage Residences Kapalua Bay. With 5 sales ranging from $3,950,000 to $4,750,000, totaling $21,895,000 in Sales Volume, the sales at the Montage Residences serves to push up the Average Sales Price to meet the high, yet the Low, Median and High Sales Prices are all down, suggesting that there are still some good values to be found in the resort. OUR MARKET NOW: at the time of this market update there were approximately 114 listings in the resort, up from last year. Calculating the Absorption Rate, this equates to approximately 26 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.

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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 KAPALUA RESORT

2000-­‐Q2 |  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

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2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Q2 |   2015  

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.


Quarter 2 | 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 RESORT

$

5.7 M Highest Sale

2014 2015

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92 %

29

Sales/List Price

Transactions

$650,000 Low Sales Price Change: 5%

$1,975,000 M edian Sales Price Change: 48%

$5,700,000 High Sales Price Change: 14%

$66,694,000 Sales Volum e Change: 68%

# of Transactions

Average Sales Price

Average Days on Market

Average $/SQ. FT.

20 29

$1,979,624 $2,299,793

398 320

$841 $817

45%

16%

-20%

-3%

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 KAPALUA RESORT

$

4.7 M Highest Sale

2014 2015

97 %

19

Sales/List Price

Transactions

$650,000 Low Sales Price Change: 5%

$900,000 M edian Sales Price Change: -17%

$4,700,000 High Sales Price Change: -6%

$35,299,000 Sales Volum e Change: 65%

# of Transactions

Average Sales Price

Average Days on Market

Average $/SQ. FT.

14 19

$1,530,035 $1,854,157

368 298

$951 $1,065

36%

21%

-19%

12%

OBSERVATIONS • Comparing 2015 with 2014, there were increases in Low and Average Sales, but decreases in the Median and High Sales in the Kapalua Resort condominium market. Sales volume was impressively higher due to the launch of sales at the Montage Residences, Kapalua Bay, which set record highs in 2014 and continues to see great momentum in 2015. • That trend continued in the first half of 2015 with 5 sales at the Montage Residences, Kapalua Bay, totaling $21,895,000. Quarter 2 | 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.


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 has begun taking reservations. 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. 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.


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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.


SALES THROUGH 6/30/2015 GOLF VILLAS MLS # 362988 359792 364520 356008 360188 359692 361458

Unit 26P-3,4 23P3-4 21T1&2 27T7 14V3 16P3,4 26P5-6

Original Listing $850,000 $825,000 $767,000 $725,000 $895,000 $929,000 $949,000

List Price $850,000 $775,000 $767,000 $699,000 $829,000 $819,000 $949,000

Sold Price $800,000 $725,000 $767,000 $650,000 $775,000 $805,000 $918,000

Date 3/2/2015 3/27/2015 3/31/2015 4/15/2015 5/5/2015 5/6/2015 5/29/2015

Beds 2 2 1 1 2 2 2

Baths 2 2 2 1.5 2 2 2

Sq. Ft. 1,344 1,384 972 987 1,344 1,344 1,344

DOM 92 387 53 720 393 434 315

$/Sq. Ft. $595 $524 $789 $659 $577 $599 $683

Beds 1 1

Baths 2 2

Sq. Ft. 1,125 1,162

DOM 235 85

$/Sq. Ft. $604 $775

Beds 1 2 1

Baths 1 3 1

Sq. Ft. 1,006 1,529 1,006

DOM 312 1103 210

$/Sq. Ft. $868 $840 $994

Beds 2

Baths Sq. Ft. 3 1,935

RIDGE VILLAS MLS # 361991 364571

Unit 621 1915

Original Listing $699,000 $950,000

List Price $679,000 $950,000

Sold Price $679,000 $900,000

Date 5/1/2015 6/26/2015

BAY VILLAS MLS # 360265 351446 362830

Unit 30-B1 31G3-5 26B1

Original Listing $880,000 $1,539,000 $1,250,000

List Price $895,000 $1,395,000 $1,195,000

Sold Price $870,000 $1,285,000 $1,000,000

Date 2/17/2015 3/10/2015 6/17/2015

IRONWOODS MLS # 360851 Quarter 2 | 2015 www.LuxuryRealEstateMaui.com

Unit 103

Original Listing $3,000,000

List Price $3,000,000

Sold Price $2,500,000

Date 6/8/2015

DOM $/Sq. Ft. 370 $1,292 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.


COCONUT GROVE NO SALES THROUGH JUNE 30, 2015

THE RITZ-CARLTON RESIDENCES ® KAPALUA (formerly the Residential Suites) NO SALES THROUGH JUNE 30, 2015

The Ritz-Carlton Residences, Kapalua (form erly the Residential Suites at the Ritz-Carlton Kapalua): saw just one sale each year in 2012, 2013, and 2014. With 107 total condominium units, the original developer sold only 34 to private individuals and the hotel owner retains ownership of the remaining 73 units. When looking at the sales each year, it’s important to note the differences between the two properties sold. The vast majority of the units did not have full kitchens. Essentially, this is impactful, as the units without full kitchens couldn’t qualify for conventional lending in that market and the majority of sales were cash. Only the 11 oceanfront suites had full kitchens at the time of development. The hotel was purchased in early 2014 and the new ownership has indicated plans to make renovations to the interiors to create kitchens, which should help with their marketability and opens up financing opportunities.

Reservations for the remaining 73 units have begun, with planned pricing ranging from a little under $1M to just over $2M. For more information: cb@luxuryrealestatemaui.com

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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.


Quarter 2 | 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.


Quarter 2 | 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.


Quarter 2 | 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.


MONTAGE RESIDENCES KAPALUA BAY W HOLE OW NERSHIP SALES MLS # 362000 363018 361999 361393 363968

Unit 1505 5303 5404 1402 1604

Original Listing $4,600,000 $3,950,000 $3,995,000 $4,750,000 $4,600,000

List Price $4,600,000 $3,950,000 $3,995,000 $4,750,000 $4,600,000

Sold Price $4,600,000 $3,950,000 $3,995,000 $4,750,000 $4,600,000

Date 2/25/2015 3/5/2015 3/5/2015 4/17/2015 5/13/2015

Beds 3 3 3 3 3

Baths 3.5 3.5 3.5 3.5 3.5

Sq. Ft. 2,789 2,789 2,789 2,904 2,789

DOM 170 98 178 277 92

$/Sq. Ft. $1,649 $1,416 $1,432 $1,636 $1,649

Beds 191 227 225

Baths 2 2 3

Sq. Ft. 2.5 2.5 3.5

DOM 1,776 1,776 2,087

$/Sq. Ft. $127 $107 $184

FRACTIONAL SALES MLS # 361649 361650 362231

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Unit 4504 4502 3602

Original Listing $235,000 $230,000 $535,000

List Price $350,000 $350,000 $535,000

Sold Price $225,000 $190,000 $385,000

Date 2/12/2015 3/20/2015 5/15/2015

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.


HOMES AND LAND HOM ES

2014 2015

$1,975,000 Low Sales Price Change: 16%

$3,273,000 M edian Sales Price Change: 1%

$5,700,000 High Sales Price Change: 21%

$25,565,000 Sales Volum e Change: 50%

# of Transactions

Average Sales Price

Average Days on Market

Average $/SQ. FT.

5 8

$3,419,400 $3,195,625

496 359

$706 $695

60%

-7%

-28%

-2%

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 60%, and sales volume up 50% over the first half of 2014. The Average Sales Price decreased slightly (-7%) • Five of the home sales were in Pineapple Hill/Pineapple Hill Estates and three were in the Plantation Estates/Honolua Ridge community. 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 $20,880,000 and $23,950,000. § AURA, the oceanfront house on the private peninsula between Mokuleia Bay and Honolua Bay is listed at $19,800,000.

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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.


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.


HOMES AND LAND LAND

$1,400,000 Low Sales Price Change: 30%

$2,950,000 M edian Sales Price Change: 174%

$4,500,000 High Sales Price Change: 319%

$5,900,000 Sales Volum e Change: 449%

# of Transactions

Average Sales Price

Average Days on Market

Average $/SQ. FT.

1 2

$1,075,000 $2,950,000

386 369

$12 $33

100%

174%

-4%

175%

2014 2015

LAND SALES: • •

Sales dropped (-57%) in 2014 when compared with 2013. In 2015, there have been just two sales, both in Plantation Estates, and rather dramatic increases in the values above given the high sale of a lot overlooking the 18th fairway at $4.5M. 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 25-30 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.

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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 MLS# 358189 363186 363062 361861 357270

Address 108 Pulelehua St 1002 Sunset Pl 118 Pulelehua Pl 338 Cook Pine Dr 514 Pacific DR

Original Price $5,220,000 $2,495,000 $3,800,000 $2,345,000 $3,250,000

List Price $3,950,000 $1,975,000 $3,800,000 $2,099,000 $2,850,000

Sold Price $3,196,000 $1,975,000 $3,350,000 $2,099,000 $2,275,000

Date 3/16/2015 4/17/2015 5/15/2015 6/25/2015 6/26/2015

Beds 4 4 4 4 4

Baths 4.5 3.5 4.5 4.5 4.5

Sq. Ft. 4,830 3,656 4,129 4,088 3,704

Acres 0.58 0.33 0.47 0.23 0.22

DOM 502 126 163 303 683

$/Sq. Ft. $662 $540 $811 $513 $614

LAND NO SALES DATA

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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.


Quarter 2 | 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 AND HONOLUA RIDGE HOMES MLS# 362346 363044 356825

Address 197 Plantation Club Dr. 130 Keoawa ST 102 HONOLUA Pl

Original Price $4,299,000 $3,495,000 $9,700,000

List Price $4,299,000 $3,495,000 $7,695,000

Sold Price $3,575,000 $3,395,000 $5,700,000

Date 5/22/2015 5/26/2015 6/3/2015

Beds 4 4 4

Baths Sq. Ft. 5 4,569 4.5 3,550 5.5 6,509

Acres 2.00 3.52 2.82

Acres DOM 2.18 706 2.05 33

$/Sq. Ft. $15 $50

DOM 222 174 701

$/Sq. Ft. $782 $876 $760

LAND MLS# Address 356840 104 Honolua Pl 365375 214 Plantation Club Dr

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Original Price $1,495,000 $4,500,000

List Price $1,495,000 $4,500,000

Sold Price $1,400,000 $4,500,000

Date 6/3/2015 6/19/2015

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 $19,975,000 to $20,880,000

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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.


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 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.

Quarter 2 | 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.

Maui Real Estate Market Report  

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