Million Dollar West Maui | Ultra Lux Residential Market Selling
Ever wonder how the million dollar real estate market compares to everything else? Given the nature of West Maui’s high-profile resort real estate environment, it’s an easy question, or assumption to make, “everything costs a $1,000,000+.” And plainly put, I’m here to share that in some/many neighborhoods of West Maui, it absolutely does.
Additionally, if the $1M luxury mark is an indicator of real estate health of what’s to come in the market, what sort of condition are we in?
In this regular feature article, I breakdown the $1 & $3M+ luxury thresholds to give you a closer look and understanding of West Maui’s real estate sector through the multi-million dollar lens.
Million Dollar West Maui | Mid Way-ish 2020
- There were 139 sales transactions recorded for $1M or more (out of 426 total sales).
- Those 139 sales comprised 32% of the entire West Maui real estate market.
- Home residential makes up 35% of the $1M+ market | Condos 63%
- A + 5% increase in sales volume compared to this time in 2019 – considering our business & travel environment this is pretty staggering.
- Some BIG numbers have been transacting in West Maui
- 3 West Maui homes have sold this year for north of $10M+
- A beachfront 1-acre Kapalua land parcel went for $8M.
$1M+ West Maui Historical Summary
| Year | $1M+ | % + or – | % Over $1M | Home | % + or – | Condo | % + or – | Land | % + or – |
| 2020 | 139 | 5% | 32% | 49 | -12% | 87 | 17% | 3 | -37% |
| 2019 | 207 | 2% | 27% | 82 | 5% | 117 | 2% | 8 | -11% |
| 2018 | 202 | 17% | 29% | 78 | -4% | 115 | 39% | 9 | 0% |
| 2017 | 173 | -1% | 27% | 81 | 5% | 83 | -2% | 9 | -31% |
| 2016 | 175 | 14% | 26% | 77 | 28% | 85 | -3% | 13 | 117% |
| 2015 | 154 | -6% | 27% | 60 | 0% | 88 | -6% | 6 | -40% |
$1M+ sales have historically accounted for roughly 26-29% of the entire West Maui market over the past 5+ years.
$3M+ Residential Market
$3M+ Historical Residential Sales Summary
| Year | Avg List Price | Avg Sold Price | % list/sold | % + – yr | $/Sq Ft | DOM | # Sold |
| 2020 | $7,364,747 | $6,817,111 | 93% | 60% | $1,411 | 179 | 12 |
| 2019 | $4,719,300 | $4,250,350 | 90% | -12% | $1,007 | 260 | 20 |
| 2018 | $5,271,357 | $4,854,964 | 92% | 31% | $1,133 | 280 | 20 |
| 2017 | $3,881,125 | $3,697,125 | 95% | -25% | $930 | 263 | 16 |
| 2016 | $5,550,611 | $4,937,333 | 89% | 35% | $1,248 | 163 | 18 |
2020 $3M+ Residential Sales Details
$3M+ Condo Market
$3M+ Historical Condo Sales Summary
| Year | Avg List Price | Avg Sold Price | % list/sold | % + – yr | $/Sq Ft | DOM | # Sold |
| 2020 | $3,843,833 | $3,664,000 | 95% | -15.22% | $1,686 | 216 | 6 |
| 2019 | $4,485,227 | $4,321,591 | 96% | -1.39% | $1,873 | 147 | 22 |
| 2018 | $4,506,227 | $4,382,537 | 97% | 0.58% | $1,846 | 162 | 22 |
| 2017 | $4,455,909 | $4,357,409 | 98% | 0.81% | $1,736 | 100 | 22 |
| 2016 | $4,494,643 | $4,322,522 | 96% | 5.93% | $1,652 | 155 | 14 |
Wanna Know More?
If you are in the market for buying or selling West Maui luxury real estate or have any questions about the area or the market in general, please feel free to contact me. I welcome the opportunity to give you information on my previous sales performance and marketing strategies. Or if you’re curious about what your property is worth in today’s market, it would be my pleasure to provide you with property information and a value assessment free of any sales pitch.
Mike Scholz
September 24, 2020
Jeff I remember you from an episode where you helped a young stressed police/ fire dispatcher find her Karma in a West Maui condo. Is she still there? I found that episode memorable because you portrayed yourself as 100% vested in making her happy . I’ll be back on Maui in March 2020
Jeff Onderko R(B)
September 28, 2020
Hi Mike – Thanks for your message and appreciate the comments. That’s the truth and foundation of my business.
I am always vested in the client…it’s about them first, foremost and always! Stephanie still lives here on Maui and is happily enjoying the island with her now husband who also cameoed in that episode…and their fur babies). Enjoy your upcoming travels. If we can assist, feel free to reach out.
Aloha, JO