Ever wonder how the $1M 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 article, I breakdown this $1M+ luxury threshold to give you a closer look and understanding of West Maui’s real estate sector through the million-dollar lens.
Million Dollar West Maui 2019
There were 207 sales transactions recorded for $1M or more (out of 774 total sales).
+ 2% increase over 2018
Those 207 sales comprised 27% of the entire West Maui real estate market.
Condo properties equaled 57% of all 2019 $1M+ sales (117).
Residential: 40% (82)
Land: 4% (8)
More: Kaanapali led in both homes and condo sales in excess of $1M+, making up 29% & 65% of the $1M+market. Kapalua was second in both.
Over $5M+ : 10 sales total. Condos and residential sales split 50/50% for all transactions in excess of $5M+ (5 each).
$1M+ West Maui Historical Summary
Year
$1M+
% + or –
% Over $1M
Home
% + or –
Condo
% + or –
Land
% + or –
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.
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.
About the Author
Jeff Onderko
Jeff Onderko is a REALTOR Broker with Hawai'i Life.
West Maui Real Estate Broker, and ultra enthusiastic advocate of Maui's Lahaina, Kaanapali and Kapalua areas. I truly believe it's an honor & privilege to call Hawaii home. For 17 years now, West Maui is where I live, work and play.
My team and I specialize in resort market home and condominium sales striving to deliver the highest level of professional service possible. With over 25 transactions in the past 24 months, a panache for extensive statistical research and 35+ West Maui real estate articles published since 2015, I'm relevant, information driven and responsive. I bring a passionate energy, an entrepreneurial understanding and a client-first approach to my real estate business.
Prior to becoming a Realtor, I was an independent publisher, starting and operating Maui, Kauai and Hawaii Real Estate Weeklies, Maui Time Weekly (partner), and in 2005, I was a Mayors Small Business Award finalist. In 2009, after seeing the demand and living in an under serviced pet market, alongside my Mom, Susan we opened West Maui Pet Supply. I started my career after college as an account executive with Orlando Weekly ultimately becoming their Advertising Director. Then I moved on to Advertising Sales Manager at Orange County Weekly, in Southern California.
I am native of Detroit, Michigan, but grew up in Florida splitting time between Miami, Orlando and Cocoa Beach, Fl. I was a scholarship soccer player at the University of Central Florida and graduated with a BA from their School of Communication. Always attracted to healthy lifestyle, adventure, great weather, water sports and the outdoors, I moved to Maui in the summer of 2002.
When the Realtor hat comes off, I'm active in the community coaching U-14 Boys Soccer (AYSO - West Side Pride) and I still play in the West Maui open division. I'm involved along with other fellow Hawaii Life comrades volunteering regularly at the Ka Hale A Ke Ola Shelter in West Maui and I'm on the Board of the Hawaii Life Charitable Fund. Through the outlet of the WM Pet Supply, I was heavily involved with the Maui Humane Society & ASCPA getting animals adopted & spayed/neutered. When I have free time you'll find me surfing, golfing, at the gym, a regular at yoga class, hanging at home with my animals or working in the backyard on my organic micro-farm (aka: food garden). You can email me at JeffOnderko@HawaiiLife.com or via phone at (808) 280-4881.
This information is believed to be accurate. It has been provided by sources other than the Realtors Assoc. of Maui and should not be relied upon without independent verification. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Featured properties may or may not be listed by the office/agent presenting this brochure. Copyright, 1995-2015, REALTORS® Association of Maui, Inc. All Rights Reserved.
George Walter
February 24, 2020
Thanks for the info, Jeff.
Jeff Onderko R(B)
February 24, 2020
Hi George – thx for reading. Stay tuned, will be analyzing other price thresholds such as $3M, $5M and north of $10M. – Aloha