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Luxury

Million Dollar Maui | High End Real Estate Market Gaining Traction

You heard it here. Better buy one before they are all spoken for.

What I held with strong conviction 87 days ago, I still adamantly believe to this day. That luxury real estate on Maui, especially the high end oceanfront & large parcel residential sector will be more in-demand post pandemic, than pre pandemic 2020.

Kapalua’s Only 5 Beachfront Neighborhood | Kapalua Place, Oneloa Bay

Once urban based island lovers have more time to consider the freedoms of the new norm – virtual, independent, tech based work & schooling from home without cross town commutes or endless hours logged in the office or classroom. Many will trade the densely populated cities & congestive atmosphere they know as urban life for the adventurous, soul enriching, laid back qualities of island life.

Resort oriented five acre Main Home & Cottage | 111 Mele Komo Pl is on the market for $5.25M | MLS#387128

As substantiated by the numbers below, there is a case that since 5/1, the lux real estate market may be making its way back to the old norm

West Maui Luxury Real Estate Sales Activity

New Contracts $3M+ 

Date Range Region # of Days # New Contracts New Contract/Day % + or – Norm % New Contracts
01/01 – 03/12/2020 Maui 72 18 0.3 3%
West Maui 7 0.1 39%
South Maui 11 0.2 61%

 

Date Range Region # of Days # New Contracts New Contract/Day % + or – Norm % New Contracts
03/13 – 6/8/2020 Maui 87 13 0.1 -40% 16%
West Maui 5 0.1 -41% 38%
South Maui 7 0.1 -47% 54%

 

Lanai 1 0.0 100% 8%

 

Date Range Region # of Days # New Contracts New Contract/Day % + or – Norm % New Contracts
05/01/2020 – 6/8/2020 Maui 38 8 0.2 -16% 100%
West Maui 3 0.1 -19% 38%
South Maui 5 0.1 -14% 63%

 

Want to Know More?

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

Related Articles

Million Dollar Maui | The Nuts & Bolts

Maui Real Estate Market Update | New Contract Volume

West Maui Real Estate Hitting Wall | Lux Market Still Churning

 

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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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