Maui Real Estate Blog - Kapalua, Kula, Wailea News and More.

As 2013 came to a close, it proved to be another marked step in the Maui real estate recovery's cycle. And as metrics across every micro-market reflected a positive trend, it is worth noting that affluent buyers are coming back to the Valley Isle with increased confidence. In 2012, there were 7 sales of Single-Family Residences above $5M, which increased by 57% in 2013 to the 11 sales.

With continued interest on Maui by well-heeled buyers, let us look at the Top 5 sales for residential-use properties on Maui - to include both Single-Family Residences and Condominiums.

1 - 3116 South Kihei Road

Sales Price: $11.9M

Located on one of the most famed beaches in the world, Keawakapu Beach, 3116 S. Kihei Road is one of the most sought-after

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When examining the state of Kapalua real estate in 2013 as it compares to 2012, it's noteworthy that there were fewer sales, at higher average prices and a significantly higher sales volume.

In reviewing the last decade, the number of sales peaked in 2004, while the peak of the market in terms of average sales prices and volume was in 2006/2007.  The question everyone has asked since the peak, is when is the bottom.  In reviewing the data it appears that for Kapalua real estate, it was in 2012.

Highlights:

  • Kapalua Real Estate: 53 sales in the resort, at an average sale price of $1,744,620 with a total sales volume of $92,464,906
  • Kapalua Homes: 12 sales at an average sales price of $3,656,075
  • Kapalua Land: 7 sales at an average sales
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By most reasonable metrics, 2013 proved to be a significant step forward in the Maui real estate market, by which continued demand coupled with decreasing inventory resulted in upwards pressure on values. As leading experts in the Wailea real estate market, the team at Island Sotheby's International Realty have a firm grasp of current Wailea market conditions, projected trends as paralleled by relevant macro-economic outlook, and comparative micro-market proclivity within the overall South Maui market.

As such, let us examine the infograph below to glimpse at the progress:

There are a number of items worthy of further discussion. For example, the median sales price for Wailea Single-Family Residences rose substantially over the previous year,

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Island Sotheby's International Realty is proud to announce the sale of 455 Laulea Place in Spreckelsville. Cathryn Paxton-Haines and Debra Merle demonstrated their expertise in high-end sector of Maui real estate by successfully marketing, negotiating, and recording the sale of this phenomenal estate. Featured on a Wall Street Journal for its unique architecture, the luxury 3 bedroom / 3.5 bathroom estate sold on January 17th for $7.95M, marking the second-highest sales ever for a North Shore residence. For those interested in the Spreckelsville, Paia, and Haiku real estate market, stop by our Makawao office and consult with one of experts or call 808-572-8600 for a private consultation..

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  The team of Island Sotheby's International Realty would like to congratulate Ron Silva and Raphael Wellerstein for their participation in the sale of Makena Place 10. The 4 bedroom / 4 bathroom oceanfront architectural masterpiece encompassing 4,000 square feet sold on January 17, 2014 for $9.3M. Ron and Raphael displayed high levels of professionalism, world-class marketing, and negotiating skills in successfully closing one of the most significant sales in the Makena real estate market in recent years. With deep-rooted expertise in the Wailea and Makena micro-markets, the team of specialists at Island Sotheby's International Realty are poised to represent their clients dutifully in endeavors within the South Maui market - stop by our Wailea…
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mokapu beach maui

For an unprecedented 20th time, the readers of Conde Nast Traveler magazine have honored Maui with the the title of "Best Island in the World". With its impressive score of 93.9 , Maui is also the top rated destination as it easily overshadowed the 'Best City' score procured by San Miguel de Allende of 84.6.

Any one who has visited Maui understands why it has been such a long-running favorite for the CNT voters, as well as the many other recognitions through the years. And with many different climates and micro-markets - from historic, oceanfront Lahaina, to master-planned resort living in Wailea, to chic Paia lifestyles, to the paniolo-rooted Upcountry culture - Maui has something to offer all visitors and residents. Visitors can partake in all

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With its tropical setting, picture-perfect weather, top-rated beaches, and world-class amenities, Wailea is a much sough after destination. And for those considering a purchase of a Wailea property, it becomes incumbent on potential buyers to be well acquainted with real estate trends and available inventory. The Wailea Single Family Residence (SFR) market has been somewhat stagnant in the past three years, arguably due to the downwards pressure on values by REO's (bank-owned/foreclosures) and Short Sales - although not a great amount (7 REO's and 5 Short Sales), still significant enough to have an impact on values in Wailea. And as the market continues its shift from a clear buyer's market to a more balanced market, let us take a look at relevant data. 

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The confirmation hearing for the Residences on Kapalua Bay (formerly the Ritz-Carlton Residences, Kapalua Bay) took place this morning at the first circuit court. The judge first heard a motion to intervene on behalf of an original reservation holder in the developer sales. Three parties bid, with a starting bid of $60 million, bid up to $100 million in 22 increments.

We are hopeful that with this confirmation that matters will be resolved and sales will recommence. For more information regarding this Kapalua property, please contact Courtney Brown.

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As 2012 winds down to a close, it becomes an opportune time to compare 2012 to the previous year in order to determine market trends, particularly in micro-niches. With that, let us examine the state of the market in Wailea Beach Villas and draw reasonable conclusions thereof. First, let's take a look at inventory and how it is being absorbed by measuring new listings coming on the market and the number sales transpiring within the allotted time period.

The most glaring fact is that 2011 absorbed WBV units at a much faster pace, with 15 new listings coming on the market in 2011, resulting in 6 sales. Compared to 16 new listings in 2012, which only led to 3 sales. But beyond inventory absorption, let's look at values - which arguably can best me

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