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West Maui Real Estate | Lifestyle Driving Demand

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, and significantly more.

West Maui September 2020 Headlines

For further details on any of the statements below, please refer to the sales reports.

  • 45 sales in September: 10 Residential, 34 Condo and 1 land (off by roughly -20%)
  • However, even with the Vacation Rental Moratorium and the mandatory quarantine – the condo market is showing resiliency with overall sales volume only down 16% (per unit sale) for the year and gaining momentum.
  • Fueled by Kaanapali’s new development Luana Kai, $1M+ Condo transactions are actually up 26% (and 74% in Kaanapali specifically)
  • Instead of income driving the demand, lifestyle is.
  • The $1M+ market is still moving considerably at +2% year over year
  • Amid travel restrictions and less sales volume, some huge transactions have taken place in the past 60 days
  • Oceanfront 3 Kapalua Pl sold for $15.5M
  • Avg Residential Sales price for Sept | $3.16M
  • Prices/demand still remain strong – Especially in the residential sector. Good, well-located properties are moving quickly.
  • Looking ahead –  2020 may finish with less than a 10% sales volume dip from last year which would be truly tremendous all things considered.

 

  • Median Sales Prices
  • Homes: September $1,485,000 vs. August $1,147,500
  • Condos: September $580,000 vs. August $745,000
  • Land: $850,000 vs. $900,000 in August
  • Highest Priced Sales
  • Home – $15.5M | Kapalua
  • Condo – $3.3M  | Kaanapali
  • Land – $850K | Kapalua 3.84 acres
  • Lowest Priced Sales
  • Home – $550K | Lahaina
  • Condo – $160K | Pohailani Maui in Nap/Kah/Hono neighborhood
  • Land – $850K | Kapalua 3.84 acres

Historical Median & Average Price Comparison

Year Median Sold Price Median Price % Yr Gr Avg Sold Price Avg Price % Yr Gr DOM # Sold
2020 $1,125,000 -9.0% $1,945,980 12.7% 157 99
2019 $1,236,922 2.4% $1,727,294 -3.2% 173 137
2018 $1,207,500 9.8% $1,785,099 15.4% 188 130
2017 $1,100,000 4.8% $1,546,633 -3.0% 185 139
2016 $1,050,077 5.0% $1,595,145 14.0% 194 147

 

Year Median Sold Price Median Price % Yr Gr Avg Sold Price Avg Price % Yr Gr DOM # Sold
2020 $650,000 12.2% $923,847 9.7% 199 379
2019 $579,500 1.7% $841,913 1.0% 182 614
2018 $570,000 4.2% $833,812 2.8% 157 549
2017 $547,000 8.0% $811,436 9.0% 164 482
2016 $506,250 -0.7% $744,555 -3.9% 211 490

 

Year Median Sold Price Median Price % Yr Gr Avg Sold Price Avg Price % Yr Gr DOM # Sold
2020 $800,000 6.7% $1,275,577 28.8% 195 14
2019 $750,000 -7.7% $990,609 1.1% 256 23
2018 $812,375 -1.5% $979,829 18.1% 526 22
2017 $825,000 -2.9% $829,477 -5.0% 293 33
2016 $850,000 32.3% $873,147 7.0% 294 49

 

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.

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Kapalua Plantation Estates | Recent Deals Closing Fast

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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.

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