The Ritz-Carlton Club and Residences®, Kapalua Bay: Maui Real Estate Market Update

The Ritz-Carlton Club and Residences®, Kapalua Bay: Maui Real Estate Market Update

The Ritz-Carlton Club and Residences®, Kapalua Bay, is Maui's newest luxury condominium development.  First opened in 2009, the property is comprised of 62 fractional residences and 84 wholly-owned residences. 

The market has picked up at the Residences, as it has across the high end of the Kapalua Resort, with two closings, each at $3,300,000.  Both are 3B/3.5B plus den floorplans, oceanfront, and sold for approximately $1136/sq. ft. 

The following is an overview of the whole ownership sales history: Exclusive Resorts, as a partner in the development, purchased 15 of 84 the wholly-owned condominium residences for a total of $56,574,390.  Since the release a total 11 additional residences have sold to private parties.  The average sale price of these residences, excluding the Exclusive Resorts purchase, is $4,070,953 or $1343/sq. ft.

For more information on the Ritz-Carlton Residences®, Kapalua Bay or any other Kapalua property, please don't hesitate to contact me.