COVID19 UPDATE
Condos

Puamana In Lahaina | Prices Still Poppin’!

As part of my commitment to keeping the community informed about West Maui’s dynamic, micro-market real estate environment, I’m bringing you an up-to-date, comprehensive property market summary of Puamana, Lahaina’s gold coast oceanfront gated community.

What You’ll Find  

  • Actual Sales Prices: learn exactly how much specific properties sold for
  • Sales Volume: see the strength of the market in terms of how many properties sold
  • Days on Market: understand how long it takes the average property to sell
  • List Price vs. Sold Price: see how the final sales price compares to the listing price
  • Price Per Square Foot: which is critical in calculating real estate values
  • Asset % Growth: what is the year over year appreciation of my property
  • Current Inventory: what is actively for sale and currently under contract

Before we dig into the numbers, make sure you subscribe to my blog if you want to be notified of future market reports as they come available.

Puamana 2019/2020 | Market Headlines

  • 5 Puamana sales in 2019, (-58%) from 12 last year and the lowest total since 2010.
  • Avg Sales Price = $962K (-41%)
  • 1 Bedroom Non Oceanfront unit avg sales price = $831/K (-13%)
  • While on the surface it may appear that 2019 sales prices are down significantly from 2018, it’s not necessarily the story at all. Comparatively speaking, 2018 had some incredible $3M+ oceanfront sales that just so happened to be larger 3-bedroom end units. The perfect storm to set gaudy records — end unit desirability, oceanfront location and tremendous demand.
  • So while top end prices are lower, we are still sitting at the strongest price/sq foot sales period Puamana has ever seen.
  •  Additionally, I would point out that the decline in the number of sales this year is due to the very limited inventory offering versus a decline in demand. Yes days on market did increase by nearly 100 days, but I’d claim that was due to the inventory offered. For reference – In 2018, 20 properties went actively listed on the market. In all of 2019  – only 6.
  • Currently, there are 7 actively listed units available for sale priced $815K – $6M and 3 under contract.

Historical Sales Analysis

While 2019 sales prices may significantly look down, it’s necessarily not the case as Puamana had multiple large oceanfront sales in 2018. None in 2019.

Puamana Historical Sales Detail

YEAR Avg List Price Avg Sale Price % of List Price % Yr Gr Pr/Liv Sq ft Avg – DOM # Sold % Yr Gr
2019 $1,007,600 $962,600 96% -41% $1,095 201 5 -77%
2018 $1,614,038 $1,565,000 97% 49% $1,207 110 13 18%
2017 $1,093,364 $1,052,545 96% 19% $862 134 11 38%
2016 $911,463 $881,650 97% -22% $1,009 102 8 -27%
2015 $1,230,864 $1,125,400 91% 20% $914 164 11 -15%
2014 $1,011,608 $936,231 93% 2% $1,013 232 13 30%

YEAR Avg List Price Avg Sale Price % of List Price % Yr Gr Pr/Liv Sq ft Avg – DOM # Sold % Yr Gr
2019 $856,000  $831,000 97% -12.6% $1,214 279 3 -50%
2018 $981,125 $951,250 97% 5.7% $1,088 102 4 300%
2017 $825,000 $900,000 109% 19.8% $1,402 338 1 -75%
2016 $772,375 $751,250 97% 21.7% $1,049 92 4 0%
2015 $611,875 $617,500 101% -51.0% $703 97 4 100%
2014 $1,360,000 $1,260,000 93% 111.3% $1,938 56 2 0%

YEAR Avg List Price Avg Sale Price % of List Price % Yr Gr Pr/Liv Sq ft Avg – DOM # Sold % Yr Gr
2019 $1,235,000 $1,160,000 94% -0.4% $916 85 2 -50%
2018 $1,240,000 $1,165,000 94% 22.6% $1,007 174 2 -71%
2017 $1,021,714 $950,429 93% -6.1% $825 126 7 75%
2016 $1,050,550 $1,012,050 96% 32.8% $1,049 112 4 100%
2015 $814,000 $762,000 94% 21.0% $455 362 2 -71%
2014 $665,238 $629,500 95% -5.7% $553 254 7 40%

YEAR Avg List Price Avg Sale Price % of List Price % Yr Gr Pr/Liv Sq ft Avg – DOM # Sold % Yr Gr
2019 0
2018 $2,163,167 $2,105,000 97% 57% $1,384 85 6 100%
2017 $1,350,000 $1,341,667 99% -21% $950 85 3 -40%
2016 0
2015 $1,892,800 $1,705,000 90% -32% $1,178 139 5 67%
2014 $2,700,000 $2,500,000 93% 62% $1,733 833 3 0%

Puamana Comparative Market Analysis

Want to Know More?

If you are in the market for buying or selling Puamana 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.

Related Articles

Puamana: 12 Reasons Why it’s The Best

Front Street: One of America’s Greatest Streets

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 $50M+ sold, a panache for extensive statistical research and 100+ published real estate articles 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.

Comments (0) Show CommentsHide Comments (Remember)

Cool. Add your comment...

Your email address will not be published. Required fields are marked *

Leave your opinion here. Please be nice. Your Email address will be kept private, this form is secure and we never spam you.

More Articles from Hawaii Life