As it is my commitment to keeping the local community informed, I am pleased to share with you the most recent West Maui home, land and condo sales reports for your review — covering Kaanapali, Kapalua, Lahaina, and Launiupoko. You’ll find real estate sales volume, days on market, list versus sold price, price per square foot, Broker commentary, and more.
August 2019 Headlines
- 53 sales in August – down -27% from the same period last year (2018 average/month: 58)
- 60 properties went active on the market
- Kapalua’s Pineapple Hill sells 3 more – 15 for the year
- Average sales price for homes nearly $2M in August
- Highest priced sales:
- Home – $4.5M in Kaanapali’s Lanikeha neighborhood
- Condo – $5.54M at the Montage Kapalua Bay Residences
- Lowest priced sales:
- Home – $645K in Lahaina Town
- Condo – $250K at Kahana Manor
August Average Home Sale Prices
- Kaanapali – $2.37M
- Kapalua – $2.38M
- Lahaina – $678K
- Launiupoko – $1.58M
- Honoko/Kahana/Napili – $1.27K
August Average Condo Sale Prices
- Kaanapali – $890K
- Kapalua – $824K
- Lahaina – $674K
- Honoko/Kahana/Napili – $452K
What You Need to Know
Sales volume in West Maui is feeling its first year over year decline since 2017 and sits at currently -4% (yes there was a decline in transactions from 2017/2016). However, 2018 with 695 transactions had a 7% volume increase compared 2017, so it’s easy to say we are still in an actively churning market. From a pricing standpoint, homes saw a significant increase of +32% over the same period last year ($1.9M v $1.44M), while condos saw a slight -.6% decline at $863K v $868K.For the Year
- Home sales volume is up 1% from 2018
- Condo sales are down -5% (condos make up 78% of transactions)
- Land sales are down -19%
- Total home, condo & land sale = 14% over 2018
- Sales volume for properties over $1M are down -14%
Inventory & Absorption Rate
Absorption rate is the rate at which available homes are sold in a specific market over a specific time. This figure shows how long it will take to exhaust the current inventory supply. As of 9/9/2019, there are 459 active properties for sale with 709 properties selling in the past 12 months.- West Maui home, land, and condo inventory combined Absorption Rate is 7.5 months
- Home AR – 9.2 months
- Condo AR – 5.7 months
- Land AR – 43.1 months
