The first two weeks of December are often a slow time for the Maui real estate market, and in turn the Kapalua Resort market, as our tourism tends to dip during this part of the year before we begin our busy season around the holidays and the new year.
However, activity in the Kapalua Resort has been on the rise over the past month, with a new escrow at The Ritz-Carlton Residences, Kapalua Bay. 2401, offered at $9,395,000, is one of only eight bay front floorplans, with over 4200 sq. ft. of interior living area, and spacious lanais totaling approximately 1150 sq. ft. These four bedroom residences are the gem of the resort, and this particular residence, a penthouse, features panoramic ocean, island, and sunset views.
In addition, 14V1 at the Golf Villas, listed at $715,000, went into escrow as well. This single, vista level, one bedroom was renovated to the Gold Program standard of the Kapalua Villas.
The closings of Coconut Grove residences 10 at $3,600,000 and 32 at $4,700,000 in the past three weeks also show increased momentum in our marketplace.