Kula, Maui – 6 Month Residential Sales Report

What’s been selling in Maui’s upcountry region of Kula lately? Let’s take a look at what sold in the past 6 months.

Sold in Kula October 26, 2017 to April 26, 2017:

• 33 sold listings priced from $500,000 to $2,345,000
• Average sale price of $1,008,268 and median sale price of $920,000
• Total dollar volume was $33,272,850 with 9 cash purchases totaling $10,332,000
• Days on market ranged from 30 to 746 days
• 26 listings were single homes, while 5 were house and cottage, and 2 were house with attached ohana
• House and detached cottages sold between $1,185,000 and $1,350,000 with various lot sizes
• 3 were bank owned REO sales priced from $740,000 to $889,000 and none were short sales
• Only 1 was a CPR listing, selling for $845,000 with 1 acre of land
• Lowest price was an off-grid fixer 3BD/1BA house on 4.4 acres in Kanaio
• Highest price was 148 Hoomaikai Place, a brand new 4BD/3BA single level home on 5.7 acres

148 Hoomaikai Place sold on 3/1/2018 for $2,345,000

Land size varied widely:

• Land size was anywhere between 6,643 sf and 18.5 acres
• 10 lots were less than half an acre, as in the Kula Kai neighborhood
• 5 lots were half acre or slightly larger, as in the Kulamanu subdivision
• 3 lots were about 1 acre, as in Hawaiian Homelands
• 7 lots were 2 to 2.4 acres, as in Kula Glen
• 7 parcels were 3 acres to 6 acres
• 1 property was 18.5 acres

What’s available to buy now in Kula?

• 36 active listings priced from $499,000 to $4,500,000
• Land size ranges from a 1/4 acre to 58 acres
• DOM is between 2 days and 951 days
• None are short sales or REO
• 5 are CPR properties
• Search the Maui MLS for Kula homes for sale

3610 Lower Kula Road – MLS#375643

What’s under contract in Kula?

• 14 properties are under contract and pending sale, priced from $330,000 to $3,900,000
• DOM ranges from 37 to 379
• Land size varies from a 8,553 sqft to over 24 acres
• Lowest price is a Leasehold home on 1 acre in Waiohuli Hawaiian Homes, with ownership restrictions
• Highest price is a 7,160 sqft mansion and cottage and pool on 2 acres
• 1 listing is a CPR in Kula Kai

What does the future look like? The chart below shows the past 5 years of inventory, and you can see that the inventory is at a very low point right now in Kula, with only about a 5 month supply. This could be good news for sellers as there is always a lot of demand for listings in Kula.

If you have any questions about this market report, or about buying and selling properties in Kula, just reach out to me and I’m happy to help.