Kaanapali Sales Continue to Roar: West Maui Market Report

Turkey hangover, a recent move, a weekend excursion to the Big Island for WorthShop 8 and holiday planning have literally kept me in a publishing straightjacket the past 15 days, so my apologies for the delay in sharing with you the most recent West Maui home, land, and condo sales reports — covering Kaanapali, Kapalua, Lahaina, and Launiupoko. You’ll find real estate sales volume, days on market, list versus sold price, price per square foot and more. Please stay tuned for my Annual West Neighborhood Power Index Report hitting HawaiiLife.com next month.

West Maui November Headlines

• 40 Total Sales Transactions: Lowest Since 2 Months After 2016 Election (and that was the lowest in 10 years)
• 103 New Listings Come on the Market (511 total)
• Kaanapali Home and Condo Sales Roar
• Highest Home Sale $3.6M (Makila 3 Launiupoko), Lowest was $875K (Kahana Ridge)
• Highest Condo Sale $5.7M (Honua Kai, Kaanapali),  Lowest was $100K Leasehold (West Maui Trades)

October Average Home Sale Prices

• Kaanapali – $2.18M (4)
• Kapalua – No Sales
• Lahaina – $1.075M (1)
• Launiupoko – $3.6M (1)
• Honoko/Kahana/Napili– $875K (1)

Download 2018 Condominiums Sold PDF

October Average Condo Sale Prices

• Kaanapali – $2.05M (9)
• Kapalua – $890K (2)
• Lahaina – $587K (7)
• Honoko/Kahana/Napili – $537K (15)

Through 11 Months 2018 Versus 2017

• 2018 West Maui volume is up +7% from 2017, but losing steam (last month +9% and the previous month +13%)
• Condo sales up 14%, homes down -5%, and land down -33%
• Home Sales Volume: Kaanapali and Kapalua Homes Sales Up – All others down
• Condo Sales Volume: Nearly areas up – Kaanapali capturing 31% of entire market, Kapalua down -21%
• Absorption Rate = The rate at which homes are sold in a specific market over a specific time. This figure shows how long it will take to exhaust the inventory supply.
• West Maui home, land, and condo inventory combined AR  – 8.83 months
• Condo AR – 6.73 months
• Home AR – 11.53 months

Want to Know More?

If you are in the market for buying or selling West Maui 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.