Kapalua Bay, Maui Properties: Real Estate Market Update July, 2013

By
Real Estate Agent with Island Sotheby's International Realty R(S): 56519

Coconut Grove and Residences at Kapalua Bay: Market Update July, 2013

I'm pleased to announce the sale of Coconut Grove 25, which closed at $4,250,000 this week.

Kapalua Bay Maui

A beachfront enclave of just 36 condominiums, the Coconut Grove is situated on one of Maui's most popular and loved beaches, Kapalua Bay.  

Each building contains four villas--each a different floorplan.  The four floorplans at Coconut Grove are designed to make the most of the ocean and island views, and take in the tropical gardens that surround the villas.  

At the time of this posting, there is just one active listing: #15 at $3,999,999.  

In 2013, there have been two sales:
29.........$4,196,500........2/13
25.........$4,250,000........7/13

Known for it's fantastic snorkeling, Kapalua Bay is a small sandy crescent-shaped beach and tends to be fairly calm most of the year.  At one end is Merriman's at Kapalua Bay (which recently received a shout out on the Today Show by Willie Geist as a Must if visiting Maui).  

At the other end of the bay is the Residences at Kapalua Bay.  Formerly the Ritz-Carlton Club and Residences, this property is in the process of being re-branded as a Montage, which will be the hotel company's first property in Hawaii.  Comprised of 146 luxury condominiums, the property opened in 2009, with 15 properties purchased by Exclusive Resorts, and another 13 to private individuals.  Sales prices during the original launch ranged from $2,800,000 to $5,735,000 for spacious three bedroom condominiums.

Sales of the remaining unsold inventory at the Residences at Kapalua Bay are currently on hold until the rebranding is complete.  I have been taking an interest list for anyone that would like to be kept updated on the property as information is made available.  Please don't hesitate to contact me to receive updates or with any questions.

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