Ever wonder how the $1M real estate market compares to everything else? Given the nature of West Maui’s high-profile resort real estate environment, it’s an easy question, or assumption to make, “everything costs a $1,000,000+.” And plainly put, I’m here to share that in some/many neighborhoods of West Maui, it absolutely does.
Additionally, if the $1M luxury mark is an indicator of real estate health of what’s to come in the market, what sort of condition are we in?
In this article, I breakdown this $1M+ luxury threshold to give you a closer look and understanding of West Maui’s real estate sector through the million-dollar lens.
Million Dollar West Maui 2019
- There were 207 sales transactions recorded for $1M or more (out of 774 total sales).
- + 2% increase over 2018
- Those 207 sales comprised 27% of the entire West Maui real estate market.
- Condo properties equaled 57% of all 2019 $1M+ sales (117).
- Residential: 40% (82)
- Land: 4% (8)
More: Kaanapali led in both homes and condo sales in excess of $1M+, making up 29% & 65% of the $1M+market. Kapalua was second in both.
Over $5M+ : 10 sales total. Condos and residential sales split 50/50% for all transactions in excess of $5M+ (5 each).
$1M+ West Maui Historical Summary
| Year | $1M+ | % + or – | % Over $1M | Home | % + or – | Condo | % + or – | Land | % + or – |
| 2019 | 207 | 2% | 27% | 82 | 5% | 117 | 2% | 8 | -11% |
| 2018 | 202 | 17% | 29% | 78 | -4% | 115 | 39% | 9 | 0% |
| 2017 | 173 | -1% | 27% | 81 | 5% | 83 | -2% | 9 | -31% |
| 2016 | 175 | 14% | 26% | 77 | 28% | 85 | -3% | 13 | 117% |
| 2015 | 154 | -6% | 27% | 60 | 0% | 88 | -6% | 6 | -40% |
$1M+ sales have historically accounted for roughly 26-29% of the entire West Maui market over the past 5+ years.
Wanna Know More?
If you are in the market for buying or selling West Maui luxury 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.
George Walter
February 24, 2020
Thanks for the info, Jeff.
Jeff Onderko R(B)
February 24, 2020
Hi George – thx for reading. Stay tuned, will be analyzing other price thresholds such as $3M, $5M and north of $10M. – Aloha