The Coconut Grove at Kapalua Bay, Market Update

The Coconut Grove at Kapalua Bay is one of the Kapalua Resort's smallest communities. Comprised of just 36 residences, this oceanfront neighborhood is also one of the Resort's most desirable locations. From January to October of 2008, there were no properties available. Within the past two months, four have been listed for sale at prices between $3,600,000 and $6,300,000. In the past two weeks, two Coconut Grove residences have closed #32 for $4,700,000 (oceanfront plan 4) and #10 for $3,600,000 (oceanview plan 3). Note: #10 was not actively listed for sale in the MLS. While this is historically a fairly slow time of year for our market and we have started to feel the effects of the mainland economic situation, the market at the Coconut Grove has remained very strong.