Kaanapali Hillside | Prices Increase, Volume On Track with 2019

As part of my commitment to keeping the community informed about West Maui’s resort laden micro-market real estate environment, I’m bringing you an up-to-date, comprehensive property market summary of the Kaanapali Hillside, a Westside premier residential hillside 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.

Kaanapali Hillside 2020 | Market Headlines

  • 2020 is poised to meet 2019 for the number of properties sold
  • Historically (since 1996), approximately 10 properties sell per year.
  • The average sale price is up 13% year over year ($1.575M).
  • Seller’s price negotiation remains strong at a 94% List to Sell ratio
  • Currently 6 properties remain actively listed for sale ranging from $1.15M – $2.97M
  • And with interest rates at historic lows, Buyer purchasing power is still high.

Sales Sales & More Sales Data

Kaanapali Hillside Historical Sales Summary

Year Avg List Price Avg Sold Price % List Sell % Yr Gr $/Sq Ft DOM # Sold
2020 $1,682,800 $1,575,000 94% 13.4% $513 126 5
2019 $1,469,675 $1,389,185 95% -10.6% $467 165 10
2018 $1,679,154 $1,554,269 93% 16.1% $460 229 13
2017 $1,404,750 $1,339,031 95% -0.1% $418 286 8
2016 $1,396,082 $1,340,052 96% -8.3% $378 312 11
2015 $1,590,857 $1,460,714 92% 2.5% $428 197 7

Want to Know More?

If you are in the market for buying or selling Kaanapali 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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Kaanapali Hillside Market Update | Fall 2019

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Mark H.

August 14, 2020

I own an OceanView Timeshare at Westin’s Ka’anapali North (2 bedroom lockout) but when you do the math, the maintenance fees would be ~$145,600 per year if you owned 52 units and could live there year around. I typically can rent my week and recover my maintenance fees plus make a small profit, but that is for the higher demand weeks, like the summer months, whale watching season or Thanksgiving weekend. If I owned 52 timeshare weeks, I would likely not break even on an annual basis. It would seem that Ocean Front or Ocean View homes or Condos right on the beach like at the Westin are out of reach for most people. I have thought about trying to go in with like minded (NO SMOKING, etc.) individuals to buy a beach front property and say own a month at a time, but putting together that group seems near impossible. I believe the interior air conditioned space for a 2 bedroom, 2 bath lockout unit at Westin Ka’anapali North is about 1,230 sq. feet, not including the two Lanai’s. The studio side has a kitchenette and the Suite side has a full size kitchen (no full size oven), dining table, bar stools and living room. Both sides have efficiency washers and driers plus a king size bed and jetted tubs and rain showers. The cost to purchase/own a 2 bedroom lockout unit for one week is ~$12.5K. How would you say the maintenance fees and purchase price of a full all year long Condo ownership right on the beach in Maui compares to owning a fully furnished time share like the Westin property? I believe the comparable PURCHASE PRICE and availability of a full year ownership Condo will be more expensive with substantially less inventory to choose from but the annual maintenance fees will be less. Based upon full analysis of all costs, which is the better $$ value? Also, your thoughts on finding a way to purchase a monthly ownership of a beachfront home or Condo on Maui? Thanks for your front line analysis and thoughts.

Jeff Onderko R(B)

August 14, 2020

Hi Mark – Value is speculative and all in the eye of the beholder. Whether the timeshare or fee simple condo purchase is entirely up to you but I can tell you that what I’ve seen in places like the The Whaler on Kaanapali Beach, Kaanapali Alii. These places are all highly desirable vacation destination spots (pre Covid that is). Historically, they produce a 1-5% return cash on cash investment and it will take you about 50% down regardless of the purchase to play. I believe this is a much better value as you get to use your fee simple condo 2-3 full months per year versus 1 week or 1 month. Please note this is not a guarantee of future earnings/income and any of these properties.

I will email you more specifics asap. – Aloha and thanks for your reply.

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