Courtney Brown

The Kapalua real estate market is moving along with nice momentum considering it is so early in the year. Last year, as of this time, the resort had just two sales for a total dollar volume of $4,583,300. This year, we have had 9 sales, with a total volume of $19,891,000.

So far, the sales in the Kapalua Resort have been concentrated at the low and higher ends of the market, with a low of $515,000 and a high of $5,000,000:

Kapalua Golf Villa 18P56: Listed at $559,000, sold at $515,000
This is a two bedroom, renovated villa on the golf course. REO

Kapalua Ridge Villa 1721: Listed at $62,000, sold at $566,000
This is a one bedroom, ocean view villa in original condition.

Kapalua Golf Villa 18V4: Listed at $575,000, sold at $575,000
This is a renovated, ocean view villa.

Honolua Ridge II, Lot 1: Listed at $1,890,000, sold at $1,600,000
Vacant land. Spectacular views.

Kapalua Ironwoods 52: Listed at $2,750,000, sold at $2,450,000
Oceanfront, two bedroom villa with some renovations.

Honolua Ridge II, 231 Kaupalena Place: Listed at $2,69,000, sold at $2,760,000
This Honolua Ridge home is a 4B/4.5B home located on just under 8 acres with oceanviews. It was a short sale.

Plantation Estates, 201 Plantation Club Drive: Listed at $4,300,000, sold at $3,000,000
This Plantation Estates home is a 4B/5.5B home located on 2.35 acres before the gate, with oceanviews.

Kapalua Ironwoods 102: Listed at $3,675,000, sold at $3,425,000
This is an oceanfront three bedroom villa, renovated.

Coconut Grove 18: Unlisted, private sale not in MLS, sold at $5,000,000
This is an oceanfront three bedroom villa with a den. Located on Kapalua Bay.

The overall resort market in 2010 and 2011 was relatively stable across the board:
Number of Sales:
2010: 41
2011: 43
Average Sale Prices:
2010: $1,944,707
2011: $2,013,133
Total Volume:
2010: $79,733,000
2011: $86,563,862

While the market was relatively stable on the whole, it's noteworthy that two high sales in the Plantation Estates ($14,000,000 and $9,600,000) elevated both the average sale price and the total dollar volume. Also, properties were on the market longer in 2011 (by 119 days) and sold at a lower percentage of list price (85% vs. 91%).

For more information on the Kapalua real estate market, please view the Annual Kapalua Real Estate Market Reports or contact me.

Aloha!

The latest edition of my Kapalua and West Maui Real Estate newsletter is now available online at www.LuxuryRealEstateMaui.com

In this issue, you'll find updates taken from the Kapalua Resort Annual Sales Reports, which illustrate how sales in 2011 compared with prior years for the Resort in general, as well as by property type (Condominiums, Homes, Land), and by each individual neighborhood.

2011 continued the trend of 2010, with a concentration of sales at the low end of each market segment and record high sales. The average sale price for the resort was buoyed by two record high closings at the Plantation Estates at $14,000,000 and $9,600,000, and several closings at the Ritz-Carlton Residences, Kapalua Bay. With these high sales, the average sale prices for condominiums and homes are only down a little over 20% since the peak. Vacant land prices have been hit the hardest, with average sales prices down 57% since the peak. (I'll be posting a more thorough analysis to my blog in the near future.) This trend seems to be continuing in 2012, where we have had seven sales in the Kapalua Resort to date: 3 ranging from $515,000 to $575,000, 3 ranging from $2,450,000 to $3,245,000 and a Coconut Grove sale recording last week at $5,000,000.

Please don't hesitate to contact me with questions or for updates on the Maui Real Estate market.

Aloha from Kapalua!

The new year is often associated with new beginnings, and for me, in 2012, that holds true. After nearly twelve years with Kapalua Realty, I have been offered a position with Island Sotheby's International Realty.

I will still be based in Kapalua, and continue to specialize in Oceanfront, Golf Course, and Resort Properties in Kapalua, Napili, Kaanapali, Launiupoko, and Wailea/Makena .

I am thrilled to be affiliated with a company with an incredible reputation locally and a global reach. Not only will you be able to view my listings and those on Maui on my website, but also on www.IslandSIR.com and www.SothebysRealty.com

I am in the process of updating my website and my annual year to year comparison reports for the Kapalua Resort for 2011. In the meantime, you can view the 2011 year end statistics for all areas of Maui, as compiled by the Realtor's Association of Maui.

I look forward to continuing to work with you.

More soon...

My contact information remains the same:
Courtney Brown, R(S)
808.250.0210
cb@LuxuryRealEstateMaui.com

My listing partner, Rob Shelton, and I are pleased to announce the listing of Bay Villa 31B3,4. This beautifully renovated, ocean view two bedroom villa overlooks the pacific ocean and has views of the neighbor island of Molokai and along the north coast out to Honolua Bay. This property is offered beautifully furnished at $1,495,000.

The Kapalua Bay Villas community overlooks Oneloa Bay and has direct access to the sandy beach and the Kapalua Coastal walking trail. Comprised of 141 villas on approximately 16.5 acres, the Bay Villas amenities include three swimming pools, barbecue facilities, and tennis courts.

At the time of this post, there are 22 active listings: 15 one bedroom villas, ranging from $699,000 to $1,425,000 and 7 two bedroom villas, ranging from $1,495,000 to $1,895,000.

In 2011, there were 8 sales at the Kapalua Bay Villas, with an average list price of $943,100 and an average sale price of $846,787. Prices are reflective of interior condition and location, as there are both ocean view and oceanfront listings at the Bay Villas.

Recent Kapalua Bay Villas Sales Activity (2011 to present):
24B1-2 2B/3B $1,333,300
12G4 1B/1B $625,000
33G1 1B/2B $597,000
20G4 1B/1B $644,000
14G3-5 2B/3B $1,225,000
17B4 1B/1B $600,000
21B4 1B/1B $1,225,000
11G1 1B/1.5B $525,000

For more information on the Bay Villas, the Kapalua Resort or any other West Maui properties, please don't hesitate to contact me.

The Hawaii Island Land Trust is an organization with a simple mission: to protect the lands that sustain us for our generation and future generations in perpetuity. As our population grows and new developments occur, it is important to preserve the open spaces and culturally significant areas, everything from our beaches to wetlands and rainforests.

The HILT is active here on Maui, preserving several areas of the island that are home to some of my favorite childhood memories: Nuu Landing (my father and I have gone camping near by since I was a little girl), the Waihe'e Coastal Dunes & Wetlands Refuge (where you can take guided hikes led by one of my former classmates, Scott Fisher), Ulupalakua Ranch (where I had some of my best adventures on horseback growing up), and Hawea Point here in Kapalua (where I walk nearly every day on Kapalua's Coastal Trail).

Each year, HILT hosts its benefit "Buy Back the Beach Luau". In it's eleventh year, this benefit raises funds for oceanfront and shoreline protection and more. Tickets are still available for the luau held at Old Lahaina Luau, right on Front Street in historic Lahaina town.

The Luau will feature the traditional luau, as well as tastings from their family of restaurants: Star Noodle (my favorite new restaurant), Aloha Mixed Plate, and the new Leoda's Kitchen & Pie Shop in Olowalu. Entertainment includes HAPA, the Old Lahaina Luau dancers, and more.

When: January 28, 2012 at 5:00 pm
Where: Old Lahaina Luau, Front Street, Lahaina
For tickets or information on how you can help preserve Hawaii's natural treasures: visit www.hilt.org