Shame on me, I knew this would happen. As soon as I make a momentary (and somewhat bold) statement about “no signs of slowdown” in the West Maui real estate market, then suddenly and immediately out of the blue, there appears to be something to the contrary. Is it possibly, maybe…?
With that said, please find 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, and more.
West Maui April 2019 Headlines
- 46 sales in April – (2018 avg/ month: 58)
- 59 properties went active on the market
- Montage Residences & Kaanapali Alii sell another just shy of $5M
- Hoonanea at Lahaina Goes Quiet — Only 1 sale in 8 months (11 last year)
- Aina Nalu in Lahaina Continues Hot Streak – 2 Bedroom Avg Price $540K
- Highest priced sales: Home – $4.75M Condo – $4.95M
- Lowest priced sales: Home – $870K Condo – $173K>
April Average Home Sale Prices
- Kaanapali – $1.55M
- Kapalua – $3.27M
- Lahaina – $874K
- Launiupoko – $3.64M
- Honoko/Kahana/Napili – $1.04M
April Average Condo Sale Prices
- Kaanapali – $1.37M
- Kapalua – $2.9M
- Lahaina – $479K
- Honoko/Kahana/Napili – $444K
April 2019 Things to Know
With prices still showing strength and on the rise some neighborhoods, what is the reason for my opening statement in this article? Well, just as I was gloating at the end of March about Q1 sales volume being up a gaudy 26% from 2018. After a so-so 46 transaction April, sales volume now sits at just +6% over last year BUT 68 new contracts in April could indicate this very well may just be a blip. The $1M+ market is more than healthy at +16% with condos showing especially strong at +36%.
In my book, sales volume is the health of the market and what we live and die by. Stay tuned.
Inventory & Absorption Rate = 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. In this month’s update, there are 469 active properties and 720 sold in the past 12 months.
- West Maui home, land, and condo inventory combined AR – 7.8 months
- Home AR – 10 months
- Condo AR – 5.8 months
- Land AR – 40.8 months
For homes, land and condo inventory priced $1M+ absorption rate is 15 months.
