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.