Condos

Puamana Year End 2017, And Where Are We Now?

It seems like when it came to anything I wrote regarding Puamana earlier this year the stories and headlines were very much the same, with over sensationalized themes that referenced HEAVY HEAT such as, Hot Tamale! Puamana is Sizzling or Holy Moly: Puamana Sales on Fire. Well, as 2017 comes to an end and while the year as a whole was quite optimistic from a value standpoint, it looks like Puamana – Lahaina’s gold coast gem of a property has simmered down to a smaller, but still warm campfire for the moment (just the way we like it).

Things to Know for 2017 (and for 2018)

  • Puamana has had 10 sales through 11/28, 8 prior to June 1st. Historically, this gated oceanfront community averages just over 11 sales annually.
  • 7 of those units were 2-bedroom, 3 units were 3-bedroom and 2 were oceanfront
  • Units sold for an average of 95% of list price, $862/sq ft or an average sale price of $1.067M
  • Average Days on Market was 114 days
  • Only 3 units are currently active on the MLS (low inventory)

2017 Puamana Sales

MLS # # Sold Bldg Nm Unit Bds Bths Liv-SF L Price Sold Price Price/Liv-SF Closing Date DOM
375912 1 Puamana 240-3 3 4 1,481 $1,800,000 $1,800,000 $1,215 10/12/2017 62
373670 1 Puamana 153-4 3 2.5 1,479 $1,175,000 $1,160,000 $784 7/14/2017 96
371991 1 Puamana 175-3 2 2 794 $825,000 $760,000 $957 5/17/2017 168
371996 1 Puamana 35-2 2 3 1,098 $875,000 $860,000 $783 4/18/2017 139
371993 1 Puamana 52-3 2 2.5 1,328 $1,095,000 $1,040,000 $783 4/10/2017 131
371895 1 Puamana 216-4 2 2 1,264 $1,875,000 $1,750,000 $1,384 3/28/2017 118
372060 1 Puamana 177-3 2 2.5 1,098 $795,000 $770,000 $701 3/13/2017 103
370950 1 Puamana 15-3 2 2.5 1,098 $789,000 $750,000 $683 2/24/2017 151
372249 1 Puamana 5-2 3 3 1,254 $1,075,000 $1,065,000 $849 2/15/2017 97
371698 1 Puamana 145-1 2 2.5 1,500 $898,000 $723,000 $482 1/31/2017 75
TOTAL 10 AVG $1,120,200 $1,067,800 $862 114

 

For Perspective

This is the where are we now part. As the first graph above shows, Puamana’s 2017 average sales price of $1.067M equals 73% of the average sales price from 2008 when the 6 units that sold did so for an average price of $1.467M (2008 being the astronomical high of the Maui market). And currently, we are in the rough vicinity of that era as 2017 prices are approximately 94% of the average price values from 2005-2007. How is the real estate market you ask?

Currently – there are 3 active listings for sale and 1 pending under contract. This time last year – Inventory was abnormally high with 11 active listings. Plus we hadn’t seen but 1 sale since July and the election hangover thing was in full effect. This time 5 years ago – the average sale price in Puamana was $815K.

Oceanfront Sales

As I said earlier, 2 lucky Buyers scored oceanfront units in 2017 and did so at an average sale price of $1.775M or $1300/sq ft. Historically 3 sell per year and comparatively speaking, Puamana’s price per square foot price competes (as strong) with other premium Kaanapali & Kapalua luxury oceanfront vacation resorts. And just think many of these $1200/sq. ft. Puamana units are then knocked all the way down to the slab in order to rebuild/remodel.

 

Price/Living Sq ft Timeframe
$1,270 avg pr/ liv sq ft since 2000
$1,427 avg pr/ liv sq ft since 2004
$1,457 avg pr/ liv sq ft since 2011
$1,474 avg pr/ liv sq ft since 2014

 

Wanna Know More?

If you are in the market for buying or selling Puamana real estate, or have any questions about the neighborhood, this article or West Maui real estate in general, please feel free to contact me. I welcome the opportunity to give you information about my previous sales performance and marketing strategies free of any sales pitches.

For resourceful, one of a kind statistics, information, and updates relevant to the Puamana real estate market, visit Jeff.HawaiiLife.com – representing the areas of Lahaina, Kaanapali, and Kapalua. Aloha!

Related Links:

Puamana in Lahaina: Reasons Why It’s Best

Front Street: Find Your Lahaina Life!

About the Author

Jeff Onderko

Jeff Onderko is a REALTOR(B) 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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peter francis

December 5, 2017

Hello,
My wife and I are very familiar with Puamana, we stared staying there in the late 70`s, and loved it…

If you would, please send us any info on 2 bed 2 bath units, anywhere on the property, we`d like to keep in the loop

thanks for your help, peter b.

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