Last year was a banner year for ultra luxury property sales on Maui. We saw the highest sales prices ever for the luxury communities of Wailea/Makena and Kapalua. The Wailea Makena Sale was the highest sales price recorded on island at $19,200,000. Sales were particularly strong in the first and fourth quarter. When 2008 rolled around, the luxury market saw relatively limited fanfare. There were no new high water marks established and it appeared that volume of sales was down. The last couple of days saw two pretty big luxury closes on island. The community of Haiku on Maui's North Shore saw its highest ever close at $5,000,000. This high end estate included 7 bedrooms/8 baths and 7,796 square feet of living space all on 6.29 acres. A beachfront home in the gated community of Maluhia in Wailea closed for the price of $8,950,000.
These two closes compelled me to take a look at this year's home sales over $5,000,000 to see where this year's stats stacked up with last year. Surprisingly, these last two sales brought the total number of home sales on island to 8 for the year. This compares to 9 last year over a similar span. While there have been less high profile mega luxury closes, we are seeing what appears to be a pretty resilient mega luxury home market on Maui.
Pete Jalbert R(S)
Jim Sanders Realty, Inc
Contact me for additional information on the Maui Luxury Home Market.
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