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
$1M+ sales have historically accounted for roughly 26-29% of the entire West Maui market over the past 5+ years.
