Whaler Market Update – Momentum Moving Up with Number of Resales in 2013

With the summer seeming to fly by it seems like fall is just around the corner…we will be back watching the whales again before you know it – and what better place to watch the whales then from The Whaler on Kaanapali Beach?

2013 Whaler Sales Stats (YTD)

The inventory on Maui is still low and that is causing the prices to rise. At the Whaler, there currently are 13 active listings. The momentum has been moving up with the number of resales in 2013, which has already surpassed this YTD for the entire year of 2012. The highest closing was $1,950,000 and lowest of $445,000 with an average of $901,428.

Since the last market update from June 2013, there have been 5 sales:

• Tower II Unit #1061: Studio, $625,000
• Tower II Unit #770: 1 bed, 2 bath, $730,000
• Tower II Unit #451: 1 bed, 2 bath, $1,300,000
• Tower I Unit #521: 2 bed, 2 bath, $1,400,000
• Tower I Unit #1101: 1 bed, 2 bath, $1,675,000 (front row unit)

In 2012, only 12 units sold for the year. With the super location on Kaanapali Beach, the prices are starting to rise at this complex, and as you can see, the number of YTD sales are already more than the total of last year. Some interesting Whaler statistics for 2013 include:

• 2 more units just went into pending within the last month
• 14 units sold in 2013 (YTD), 12 of those sales were cash
• Average sale has been for 95% of the list price
• Average DOM has been 254 days, and of that, 30-60 days are common to be in escrow
• Only one sale was a distress sale (bank owned)
• No short sales

Just Sold for 95% of List Price: Whaler Unit #1101

Unit #1101 just sold for $1,675,000 – 95% of list price, 197 days on the market. This front row location at the Whaler is a premium spot with 180 degree views. The front row units have wrap around, extra large corner lanais.

Active & Pending Whaler Units

There are 13 active units available right now and only one of which is a new listing since my last Whaler update blog:

• Tower I Unit #912: 1 bed, 2 bathroom, listed for $1,300,000
• View all active whaler listings

There are two units in escrow right now:

• Tower II Unit #469: 1 bed, 2 bath, listed for $595,000
• Tower I Unit #619: 1 bed, 1 bath, listed for $749,000

Whaler Tower I #912 (MLS# 356989)

Recent Price Reductions at the Whaler

• Tower I Unit #624: 1 bed, 2 bath listed at $699,000 that had been listed at $749,000
• Tower II Unit #1170: 1 bed, 2 bath listed at $840,000 from $890,000
• Tower I Unit #1201: The larger 2 bed, 2.5 bath with 1,444 sq.ft. of living space and over 500 sq.ft. of lanai, listed at $2,850,000 from $2,950,000, penthouse front row unit with spectacular ocean views

Whaler Unit #1201 (MLS# 355653)

Whaler Property Upgrades

The Whaler Owners’ Association is a proactive group looking to keep up the complex with preventative maintenance, as well as saving the owners money by upgrading to more cost effective materials and standards of practice. The WOA also aims to keep its standards up to the level of a high end resort.

Some recent upgrades include:

• Walkway lighting updated and improved with new LED fixtures.
• Beach walk repairs to the concrete sidewalk were made in July by AOAO Maintenance staff.
• New signage and lighting were added at the security kiosk for late arrivals.
• New LED lighting installed in the outer parking lot – will provide better lighting at a savings.
• New BBQ’s and surfboard/kayak racks are being installed at Tower 2.
• Lobby to get new furniture estimated by September.

Whaler Amenities

On the South side of the Whaler, you are just steps away from Whaler’s Village where there are many shops and restaurants. Within walking distance of The Whaler on Kaanapali Beach are two championship golf courses, one of which has been hosting the annual Senior’s Tour Event.

Owners and guests also have access to the following Whaler amenities:

• Onsite Tennis Courts
• Exercise Room (Located in Tower 1)
• Ocean Side Pool & Jacuzzi

2 Great Places to Eat Near The Whaler

1. There is a good dinner deal just a short stroll from the Whaler along the beach walk at the Sheraton Hotel. They have a Tuesday special for ribs at the beach side grill for around $20 per person.

2. If you’re at Ka’anapali Beach and looking for a casual, reasonably priced place to eat lunch or dinner, check out the Hula Grill Barefoot Bar. The Café menu offers lunch and dinner service with a variety of appetizers, specialty sandwiches, fish tacos, grilled fresh fish, and pizzas from their Kiawe wood-burning oven. The Barefoot Bar is located in Whaler’s Village right along the beach walk (menu and hours subject to change).

• Lunch (daily): 11:00 a.m.-4:15 p.m.
• Dinner (daily): 4:15 p.m.-11:00 p.m.
• Alpha (Happy) Hour: 3:00 p.m.-5:00 p.m. daily

Contact a Whaler Neighborhood Specialist

If you are looking to buy a unit at the Whaler, or maybe you are looking to sell your unit, please let me know and I can assist with your needs to accomplish your goals.