West Maui Lux Sector Reaps Historic Highs | Residential Market Cranks Amid Covid
West Maui finished the year insanely strong with 91 sales in December — the highest monthly total in the past 15 years. In addition to volume, prices remain very healthy and trending upward, especially in the residential/single-family sector. For example, in December alone eight homes sold for more than $3M with one of those closing for $24M – it’s easy to see how the 26 transactions could end up averaging $2.7M/sale.
West Maui December 2020 Headlines
For further details on any of the statements below, please refer to the sales reports.
- For the year, West Maui alone had (10) trades $5M+ (5) trades at $8M+ and (3) north of $14M. By far the strongest of any single period in West Maui history. Prior to 2020, only 2 properties had ever sold for more than $14M.
- Demand is High as Days on Market Low – Comparatively & historically speaking, homes and land lots are moving quicker than usual, condos are around the norm.
2020 Notable Numbers
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Condos: Sales Volume – 8% | Total Sales Revenue – 8.5% ($473M)
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Homes: Sales Volume +20% | Total Sales Revenue +40%% ($330M)
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Land: Sales Volume -4% | Total Sales Revenue +10%% ($25M
Highest Priced Sales
- Home – $24M | Kapalua
- Condo – $3.55M | Kapalua
- Land – $950K | Kapalua
Lowest Priced Sales
- Home – $379K | Napilihau in Nap/Kah/Honokowai areas
- Condo – $111K | Maui Sands 1 in Nap/Kah/Honokowai areas
- Land – $375K | Kaanapali
Historical Median & Average Prices
_______West Maui Homes Median_______
| Year | Med Sold Price | Med Price % Yr Gr | Avg Sold Price | Avg Price % Yr Gr | DOM | # Sold |
| 2020 | $1,175,000 | -5.0% | $2,001,559 | 15.9% | 152 | 165 |
| 2019 | $1,236,922 | 2.4% | $1,727,294 | -3.2% | 173 | 137 |
| 2018 | $1,207,500 | 9.8% | $1,785,099 | 15.4% | 188 | 130 |
| 2017 | $1,100,000 | 4.8% | $1,546,633 | -3.0% | 185 | 139 |
| 2016 | $1,050,077 | 5.0% | $1,595,145 | 14.0% | 194 | 147 |
_______West Maui Condo Median_______
| Year | Med Sold Price | Med Price % Yr Gr | Avg Sold Price | Avg Price % Yr Gr | DOM | # Sold |
| 2020 | $635,500 | 9.6% | $907,472 | 7.8% | 181 | 521 |
| 2019 | $579,500 | 1.7% | $841,913 | 1.0% | 182 | 614 |
| 2018 | $570,000 | 4.2% | $833,812 | 2.8% | 157 | 549 |
| 2017 | $547,000 | 8.0% | $811,436 | 9.0% | 164 | 482 |
| 2016 | $506,250 | -0.7% | $744,555 | -3.9% | 211 | 490 |
_______West Maui Land Median_______
| Year | Med Sold Price | Med Price % Yr Gr | Avg Sold Price | Avg Price % Yr Gr | DOM | # Sold |
| 2020 | $787,500 | 5.0% | $1,050,316 | 6.0% | 186 | 24 |
| 2019 | $750,000 | -7.7% | $990,609 | 1.1% | 256 | 23 |
| 2018 | $812,375 | -1.5% | $979,829 | 18.1% | 526 | 22 |
| 2017 | $825,000 | -2.9% | $829,477 | -5.0% | 293 | 33 |
| 2016 | $850,000 | 32.3% | $873,147 | 7.0% | 294 | 49 |
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.
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