Condos

Strong Demand & Increased Prices Continue At Lahaina Residential

As part of my commitment to keeping the community informed about West Maui’s micro-market real estate environment, I’m bringing you an up-to-date, comprehensive property market summary of Lahaina Residential, Front Street’s premier local condominium 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.

Lahaina Residential Current Market Snapshot 

  • When Lahaina Residential units have come to market this year, they have gone fast. With an average of ONLY 45 days on the market from listing to closing, Lahaina Residential is arguably but easily one of the most in-demand residential condo communities in all of West Maui.
  • High demand and limited supply are driving sales prices. On the surface, average sales prices are up a gaudy 64% over 2018; however, it’s a bit misleading as 2 of the 3 sales last year were some of the last remaining leasehold units. Fee simple units are trading at 18% over 2018 ($332K vs. $279K).
  • Currently, there is 1 actively listed unit for sale and 1 under contract.

Lahaina Residential Historical Sales Summary 

Click graphs for interactive

Year Avg List Price Avg Sold Price % List Sell % Yr Gr $/Sq Ft DOM # Sold
2019 $334,000 $332,000 99% 64% $617 52 5
2018 $213,667 $203,000 95% -27% $377 98 3
2017 $279,250 $276,250 99% 7% $513 54 4
2016 $267,000 $257,500 96% 44% $479 83 2
2015 $186,544 $178,911 96% -13% $333 124 9
2014 $179,417 $204,750 114% 30% $381 176 6

Fee Simple Versus Leasehold Breakdown

Fee Simple
Year Avg List Price Avg Sold Price % List Sell % Yr Gr $/Sq Ft DOM # Sold
2019 $334,000 $332,000 99% 19% $617 52 5
2018 $287,000 $278,500 97% 1% $518 169 1
2017 $279,250 $276,250 99% 7% $513 54 4
2016 $267,000 $257,500 96% 14% $479 83 2
2015 $235,475 $226,125 96% 10% $420 63 4
2014 $179,417 $204,750 114% 17% $381 176 6

 

Leasehold
Year Avg List Price Avg Sold Price % List Sell % Yr Gr $/Sq Ft DOM # Sold
2019 0
2018 $177,000 $165,250 93% 17% $307 63 2
2017 0
2016 0
2015 $147,400 $141,140 96% 117% $262 174 5
2014 0

 

Lahaina Residential 2019 Market

Want to Know More?

If you are in the market for buying or selling Lahaina 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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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 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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