Catch a Fire! West Maui Residential Market Blazes
The end of summer is bringing the heat to West Maui in more ways than one as more homes were sold in August 2017 than any other single month in over 10+ years. To understand the impact of this sales volume in a 30/31 day period, as of 7/31/2017, West Maui residential home sales were down -5%. At the close of August, the residential market was up 8%.
Sunset from Cliff House in Kapalua – Late August 2017
August home sales comprised 23% of the annual to date volume
And to give you an idea of how many West Maui homes sell per month on average, historically the number is about 11, or roughly 120-140ish per year. 24 can change the outlook quite immediately, just like 2 can (which we saw in February).
Other West Maui August Headlines
- Kapalua: As Many Homes Sell in August Than Previous 7 Months Combined
- Lowest Price: Maui Lani Terraces 1 Bedroom Condo sells for $230K (FS)
- West Maui Real Estate Sales Down, Prices Up. Reason? We are primarily missing the raw land sales sector that transacted in 2016, mostly in Kaanapali & Launiupoko. Land volume by itself is down -23%. Condos – 13%. See report above for details.
- 2 More Luxury Condos Sell For Over $4M
- Average Home Sales Price in West Maui: $1.6M
- Average Condo Sales Price in West Maui: $918K (Fee Simple)
West Maui Luxury Digs
246 S Ulukoa Pl in the Kaanapali Golf Estates closed on 8/29 for $3.59M – Jeff Onderko & Hawaii Life represented the Buyers
- 3 homes sold in August for $3M+
- Highest Priced Sale: $4.25M, 67 Wili Okai Way – Puunoa/Launiupoko neighborhood
- 47 active residential properties for sale $3M+
- Absorption Rate: 33 months
- 2 West Maui condos sold for $3M+
- The Montage Residences at Kapalua Bay had both ($4.5M & $4.9M)
- 34 active condominium properties for sale $3M+
- Absorption Rate: 10 months
Want to Know More?
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 pitches.