Maui

West Maui on Pace with 2018 – Pineapple Hill Continues Hot Streak, Buyer’s Market?

As it is my commitment to keeping the local community informed, I am pleased to share with you the most recent West Maui home, land and condo sales reports for your review — covering Kaanapali, Kapalua, Lahaina, and Launiupoko. You’ll find real estate sales volume, days on market, list versus sold price, price per square foot, Broker commentary and more.

Pre-dusk birds eye view of Front St from Cool Cat Cafe atop the Wharf Cinema Center – July 4, 2019

July 2019 Headlines

  • 62 sales in July – (2018 average/month: 58)
  • 50 properties went active on the market
  • Kapalua’s Pineapple Hill Continues Major Hot Streak
  • Aina Nalu Prices Nearing All-Time High
  • Highest priced sales:
  • Lowest priced sales:
    • Home – $600K in Lahaina’s Waihikuli neighborhood
    • Condo – $110K at Maui Sands I in Honokowai

July Average Home Sale Prices

July Average Condo Sale Prices

What You Need to Know

Sales volume for the first several months of 2019 has been on pace or literally flat compared to 2018 (depending on how you see it). However, last year with 695 transactions had a 7% volume increase compared 2017 so it’s easy to say we are still in an actively churning market.Though the properties seem to be moving well, there has been some resistance to increases in sales prices for the mere reason of “listing high to see what we can get.” This is demonstrated in July’s average home sales which at $1.28M, was off  -28% from the same period last year. Condos also saw a decline as average sales prices were down 13.5% ($716K vs $828K). There were no land sales in July. For the Year

  • Home sales volume is down -7% from 2018
  • Condo sales are up +3% (condos make up 78% of transactions)
  • Land sales are down -27%
  • Total home, condo & land sale = 0% over 2018
  • Sales volume for properties over $1M are down -14%

Inventory & Absorption Rate

The rate at which available homes are sold in a specific market over a specific time. This figure shows how long it will take to exhaust the current inventory supply. As of 8/3/2019, there are 459 active properties and 709 properties sold in the past 12 months.

  • West Maui home, land, and condo inventory combined Absorption Rate is 7.8 months
  • Home AR – 10.3 months
  • Condo AR – 5.7 months
  • Land AR – 48 months

Want to Know More?

If you are in the market for buying or selling West Maui 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 15 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.

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