Maui Luxury Real Estate Report | 2018 Year End| Condominiums

Featured Property: Wailea Point Village Condominiums. One Hawaii’s most classic elegant properties. Wailea Point’s pristine oceanfront location, provides one of the best ocean views on Maui. Protected by a rocky lava coastline and nestled between two world class beaches–Wailea Beach and Polo Beach. The Fairmont and Four Seasons bookend the property.  This 26.4-acre property that offers 130 residential condominium units in 34 buildings of 2 or 3 stories. There are a variety of floor plan designs with 2 or 3 bedrooms and 2 to 4 bathrooms. The original residences range from 1,359 to 3,850 gross interior square feet, plus a large private, covered, lanai and a detached single car garage.  However some owners have joined 2 units and there are units in excess of 4500 Square Feet. Wailea Point’s low density, with just over 4 units per acre provide the owners with open space and lush manicured gardens, a rarity.

With security-gated entrance, Wailea Point has 24-hour roving security. Luxury amenities include 2 entertainment pavilions each with a full kitchen, barbeque areas, 4 swimming pools, including a 25-meter lap pool, 2 hot tub/spas, lighted tennis, pickleball (incredibly fun!) and paddle ball courts, edible garden as well as a fitness center. Wailea Point is a golf car friendly property. Owners also have the distinction of having special golf privileges at the nearby Wailea golf courses. You can also just walk over to the finest restaurants for world class dining.

I have one of the best values listed at Wailea Point. Wailea Point Unit 2303 Offered for Sale at $2,225,000 Go to www.WaileaPoint2303.com for 3D Tour and more pictures. Call me to discuss if you have interest. Jeannie Kong R(S) 808-276-1832

But it is no surprise that Maui was listed #1 for hotbeds of luxury real estate by Housingwire.com Read here.   This report written in February 13, 2019 reveals  5 “power markets” for high-net-worth buyers and sellers. Maui is No Ka Oi!

Wailea Beach and Wailea Seawalk Trail right next to Wailea Point 2303 Offered for Sale

Maui Luxury Condominiums is defined as Condos (fee simple and leasehold) at 2 million US dollars are up. If you need clarification on fee simple and leasehold then read my blog on it  here.   Maui County condos have several uses and restrictions. It all depends on it’s zoning and what the Homeowner Association has allowed in their documents. The concentration of condos is located on Maui’s south and west areas. The Upcountry and North Shore of Maui have very limited condos.

Makena Condos and homes developed by Discovery Land Co. called Makena Golf and Beach Club  are not currently listed on MLS. Call me for more information on these very exclusive condos as they are offered for sale.

Scroll down to the end of blog for a list of the top Maui Luxury Condominiums. The soon to be launched Maui Condominium Guide will be rolling out this year. I will be writing and adding video content for my clientele.

Maui Real Estate Luxury Condominium Sales in 2018 

2018 Unit Sales Condominiums 2 Million and up: 80 (  Up + 2.6% from 2017) 

2017 Unit Sales Condominiums 2 Million and up: 78

2018 Dollar Volume of Sales 2 Million and up: $281,263,708  (Up +3.5% from 2017)

2017 Dollar Volume of Sales 2 Million and up: $271,841,218

2018 Average Price Sold 2 Million and up: $3,515,796   ( Up 0.9% % from 2017)

2017 Average Price Sold 2 Million and up: $3,485,143

2018 Median Price Sold 2 Million and up: $3,162,500 (  down -3.8% from 2017)

2017 Median Price Sold 2 Million and up: $3,287,500

2018 Condos in this price range received on average 97 % of its list price. (Up +1.0%)

2017 Homes in this price range received on average 96 % of its list price.

2018 Homes in this price range too on average 171 Days on Market. (Same at 2017) 

2017 Homes in this price range too on average 171  Days on Market.

2018  68.8% of sales in this price range was CASH

2017  64.1 % of sales in this price range was Cash

2018 Highest Condominium Sale In Maui County was $10,000,000 US Dollars.  Wailea Beach Villa Unit D-302. Beachfront Condo (short term rentals allowed). Click here for more details. 

2018 Unit Sales by District: Note, that even in Maui County each district is distinct and specific. Please contact me for more details.

Wailea/Makena: 40

Kapalua: 13

Napili/Kahana/Hono: 1

Kaanapali: 21

Lahaina: 3

Lanai: 2

Unit Sales Condominiums 2 Million and up: 

2018:  80

2017:  78

2016 : 59

2015 : 61

2014 : 54

2013 : 48

2012 : 31

2011: 45

2010 : 68

2009 : 59

2008 : 103 * There was a plethora of new luxury condos that closed this year such as Hoolei, Wailea Beach Villas, Papali (March 2008 Financial Crisis Starts approx.)

2007 :  84

2006 : 91

2005: 62

2004 : 36

2003 : 25

Condominiums 5 million and up:

2018:  9  high

2017 : 5

2016 : 2

2015 : 3

2014:  6

2013 : 4

2012 :  2

2011 :  3

2010 : 8

2009 : 1

2008 : 2

2007 :  5

2006 : 7

2005 :  4

2004: 1

2003 : 1

Year 2018 Condominiums 10 million and up: 1

CONDOS FOR SALE IN SALES PRICE OF 2 MILLION AND UP

The number of properties available for sale in active status at the end of a given month. Also known as inventory. For this metric, the “12/6/3 months” calculation is the average of the most recent 12/6/3 months of data.

NUMBER OF NEW LISTINGS IN MAUI COUNTY FOR CONDOS 2 MILLION AND UP

A count of the properties that have been newly listed on the market in a given month.

MEDIAN SALES PRICE OF CONDOS 2 MILLION ON UP

MEDIAN PRICE PER SQUARE FOOT FOR CONDOS AT 2 MILLION AND UP

Calculations are based on sold data. Prices do not account for seller concessions. Median represents the point at which half of the homes that sold in a given month were priced higher and half were priced lower, divided by the number of finished square feet. Average is the mean sales price for homes sold in a given month divided by the number of finished square feet.*

MONTHS SUPPLY OF CONDOS 2 MILLION AND UP

The inventory of luxury condos for sale at the end of a given month, divided by the average monthly Pending Sales from the last 12 months. Also known as absorption rate.

Information is deemed reliable but not guaranteed. Information from Realtors Association of Maui and/or  Infosparks.

Real Estate is very local. The numbers don’t tell the full story. Please call or email regarding your property of interest.

Thank you for your interest.

List of TOP Maui Luxury Condominiums

Makena Golf and Beach Club

Makena Surf

Na Hale O’ Makena

Polo Beach

Wailea Point

Wailea Elua

Makali’i

Wailea Kealia

Hoolei

Wailea Beach Villas

Maui Beach Place

Honua Kai

Montage

Ritz Residences

Kaanapali Ali’i

Ironwoods