The Kapalua Resort 2013 Year End Market Report is now available
When examining 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.
- 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 price of $1,098,000
- Kapalua Condominiums: 34 Sales at an average sales price of $1,137,323
In the Residential Market half of the sales were in Pineapple Hill and Pineapple Hill Estates: with 6 homes sold at an average sales price of $2,646,858. The remainder of the sales were at Kapalua Place, an oceanfront Peninsula that was not part of a subdivision, and in Honolua Ridge and the Plantation Estates.
The number of Condominium Sales was down 33%, yet the average sales price was up 29%:
- Golf Villas: 11 sales at an average sales price of $637,954
- Ridge Villas: 13 sales at an average sales price of $977,692
- Bay Villas: 6 sales at an average sales price of $1,082,500
- Coconut Grove: 2 sales at an average sales price of $4,223,250
- Ironwoods: 1 sale at $2,150,000
- Residential Suites at the Ritz Carlton Kapalua: 1 sale at $1,850,000
There were no developer or re-sales at the Residences at Kapalua Bay in 2013. Formerly the Ritz-Carlton, Kapalua Bay, the property was foreclosed on in early 2013 and is now under new ownership. Montage Hotels and Resorts has been appointed the management company of the property, which will be known as the Montage Residences Kapalua Bay, and they are in the midst of capital improvements which include a new restaurant and bar that will be open to the public. It is expected sales of the remaining developer inventory to formally launch shortly. In the meantime, planned pricing and pre-registration information is available. Please contact me for more details.
You'll find the complete Kapalua Real Estate Market Report and MLS updates in the Market Report section of my website.