Courtney's Blog

Built in 1979, the Kapalua Golf Villas are situated overlooking the Kapalua Bay course in the heart of the resort. Situated on over 15 acres, the Golf Villas is comprised of 186 villas in 16 buildings.

At the time of this posting, there are 19 active listings (approximately 10%), with 4 pending sales, and 8 sales since January 1, 2012. The sales have ranged from a low of $410,000 for a one bedroom villa in original condition, to $780,000 for a beautifully upgraded two bedroom villa.

In 2012, 40% of the sales year to date in the Kapalua Resort have occurred at the Golf Villas. In part, this activity may be attributed to a large scale remediation project and assessment that was just approved by the AOAO.

The scope of the much needed remediation work includes, but is not limited to: new roofs, installation of copper gutters, replacement of wood siding, repainting, drainage and landscaping work, and pool cabana and carport repairs. The work is anticipated to be completed in summer of 2014, and assessments are scheduled through to 2015.

The following is the most recent assessment schedule for fiscal year 2013, which began April 1, 2012*:

* The assessment is set for 2012. Assessments are subject to change depending on the scope of work that is needed as individual buildings are completed. When purchasing a Golf Villa, you would have the opportunity to review the latest information as supplied by the Board of Directors.

Please feel free to contact me with any questions or for information regarding the Golf Villas, or any other property in the Kapalua resort.

Photo of the Ritz-Carlton, Kapalua, where we have a new listing at the Residential Suites.

Kapalua Real Estate: Market Update
It’s on everyone’s mind: “What’s going on in the market?” While trends are difficult to predict when data samples are small, I find the quarterly comparison of our market against the prior year to be insightful. We have definitely seen an increase in both the number of sales and sales volume. The impact of a record sale for $14,000,000 in the Plantation Estates in early 2011 serves to skew the data: without it, the volume would have been less than 50% of that achieved in the first quarter of 2012 and the average sale price would have been $1,500,833, much closer to this year’s. The greater sales volume is generated by a concentration of sales at the low end of the market segments.

In particular, we are seeing a majority of this year’s sales activity at the Kapalua Golf Villas. The Golf Villas were built in 1979 and a much needed remediation project (and assessment) has just begun. The AOAO is renovating the exteriors of the buildings, with changes not limited to, but including, new roofing, siding, and installation of gutters. With this type of change, it is not uncommon to see prices fall slightly as inventory increases. Buyers finding value at the lower prices at the Golf Villas have propelled the market forward, with 8 sales year to date as compared with 7 in all of last year.

The following is an overview of the activity in the past two weeks in the Kapalua real estate market:

NEW LISTINGS:
There were three new listings in Kapalua since my last blog update, ranging from 689,000 for two bedroom Golf Villa to $3,500,000 for a home in Pineapple Hill

CONDOMINIUMS:
Residential Suites at the Ritz-Carlton, Kapalua
1221/23 2B/2B $985,000 REO

Kapalua Golf Villas
23P1,2 2B/2B $689,000

HOMES:
Pineapple Hill
508 Pacific 4B/4.5B $3,500,000

PENDING SALES
There are currently 7 properties pending sale: 4 Golf Villas, 1 lot and 1 home at the Plantation Estate, and an Ironwoods Villa.

SALES:
As of this posting, there have been 19 sales recorded within the Kapalua Resort:
CONDOMINIUMS:
Kapalua Golf Villas
18P56: 2B/2B Listed at $559,000, sold at $515,000 REO
18V4: 1B/2B Listed at $575,000, sold at $575,000
12T1: 1B/1.5B Listed at $430,000, sold at $410,000
24P56: 2B/2B Listed at $568,500, sold at $485,000 REO
14P34: 2B/2B Listed at $839,000, sold at $780,000
23V1: 1B/1.5B Listed at $485,000, sold at $425,000
15P7,8: 2B/2B Listed at $539,000, sold at $485,000

Kapalua Ridge Villas
1721: 1B/2B Listed at $620,000, sold at $566,000
921-23: 2B/3B Listed at $1,100,000, sold at $895,000
2821-23: 2B/3B Listed at $1,100,000, sold at $1,000,000
815: 1B/2B Listed at $585,000, sold at $560,000
1521: 1B/2B Listed at $649,000, sold at $600,000

Kapalua Bay Villas
26B3-4: 2B/3B listed at $2,490,000, sold at $2,150,000

Kapalua Ironwoods
52: Listed at $2,750,000, sold at $2,450,000
102: Listed at $3,675,000, sold at $3,425,000

Coconut Grove
18: 3B/3.5B sold at $5,000,000 *Not in MLS--Private Sale

HOMES:
Honolua Ridge
231 Kaupalena Place, Phase II: Listed at $2,69,000, sold at $2,760,000 Short Sale

Plantation Estates
201 Plantation Club Drive: 4B/5.5B Listed at $4,300,000, sold at $3,000,000

VACANT LAND:
Honolua Ridge
Lot 1, Phase II: Listed at $1,890,000, sold at $1,600,000

Number of Sales:
2010: 41
2011: 43
2012: 19 YTD
Average Sale Prices:
2010: $1,944,707
2011: $2,013,133
2012: $1,456,895 YTD
Total Volume:
2010: $79,733,000
2011: $86,563,862
2012: $27,681,000 YTD

For more information on the Kapalua real estate market, please don’t hesitate to contact me.

April 4, 2012

It has been a beautiful winter and spring here in Kapalua, and there is a sense of optimism in the real estate market. If we were to compare the first few months of 2012 with 2011, there have been 14 sales to date vs. only 9 in the same time frame. The total dollar volume remains fairly constant ($25,611,000 in 2012 vs. $24,560,300 in 2011). However, it is noteworthy that the 2011 figure was significantly increased by the sale of a $14 million home, and without it, the volume would have been less than 50% of that achieved so far in 2012.

The following is an overview of the activity in last month in the Kapalua real estate market:

NEW LISTINGS:
There were seven new listings in Kapalua over the last 30 days, ranging from $275,000 for a Ritz-Carlton Club fractional ownership villa to $4,900,000 for a home in Pineapple Hill

CONDOMINIUMS:
Ritz-Carlton Club and Residences
3304 2B/2.5B $275,000 (1/12 ownership)

Kapalua Golf Villas
14T4,5 1B/2B $489,000 Potential Short Sale

HOMES:
Pineapple Hill
516 Pacific 4B/3.5B $2,195,000
1008 Sunset 3B/3.5B $3,950,000
208 Crestview 4B/4.5B $4,900,000

Honolua Ridge
92 Keoawa 5B/4.5B $3,995,000

VACANT LAND:
Honolua Ridge
98 Keoawa 4.28 acres $895,000


PENDING SALES
There are currently 9 properties pending sale: 6 Golf Villas, 2 Ridge Villas, and 1 home at the Plantation Estates.

SALES:
As of this posting, there have been 15 sales recorded within the Kapalua Resort:
CONDOMINIUMS:
Kapalua Golf Villas
18P56: 2B/2B Listed at $559,000, sold at $515,000 REO
18V4: 1B/2B Listed at $575,000, sold at $575,000
12T1: 1B/1.5B Listed at $430,000, sold at $410,000
24P56: 2B/2B Listed at $568,500, sold at $485,000 REO
14P34: 2B/2B Listed at $839,000, sold at $780,000

Kapalua Ridge Villas
1721: 1B/2B Listed at $620,000, sold at $566,000
921-23: 2B/3B Listed at $1,100,000, sold at $895,000
2821-23: 2B/3B Listed at $1,100,000, sold at $1,000,000
Kapalua Bay Villas
26B3-4: 2B/3B listed at $2,490,000, sold at $2,150,000
Kapalua Ironwoods
52: Listed at $2,750,000, sold at $2,450,000
102: Listed at $3,675,000, sold at $3,425,000
Coconut Grove
18: 3B/3.5B sold at $5,000,000 *Not in MLS--Private Sale

HOMES:
Honolua Ridge
231 Kaupalena Place, Phase II: Listed at $2,69,000, sold at $2,760,000 Short Sale
Plantation Estates
201 Plantation Club Drive: 4B/5.5B Listed at $4,300,000, sold at $3,000,000

VACANT LAND:
Honolua Ridge
Lot 1, Phase II: Listed at $1,890,000, sold at $1,600,000

Number of Sales:
2010: 41
2011: 43
2012: 14 YTD
Average Sale Prices:
2010: $1,944,707
2011: $2,013,133
2012: $1,707,400 YTD
Total Volume:
2010: $79,733,000
2011: $86,563,862
2012: $25,611,000 YTD

For more information on the Kapalua real estate market, please don’t hesitate to contact me.

Aloha,
Courtney

Kapalua Events, April 2012

This April, the Kapalua Resortwill host several events ranging from fashion, to beauty, to the many facets of Hawaiian culture:

April 5
Joseph Ribkoff Trunk Show
at the Kapalua Logo Shop

The Kapalua Logo Shop will host a Joseph Ribkoff Trunk Show from 3-7 pm.
Enjoy champagne and pupus while viewing the designs of Joseph Ribkoff.

April 6-8:
The Celebration of the Arts: “Me Ke Aloha...with Aloha to all”
at the Ritz-Carlton, Kapalua

The Ritz-Carlton, Kapalua will host the 20th Annual Celebration of the Arts. This festival showcases the many facets of Hawaiian culture through music, dance, art, demonstrations, and films, and is considered to be amongst the best cultural festivals in the islands.

This weekend festival is hosted by Clifford Nae’ole, who has assembled some of the islands’ best artisans, educators, practitioners, and entertainers participating in a variety of events to bring the spirit of Aloha to all who attend.

Don’t miss some of the special highlights, which include Saturday’s Celebration Lu’au and Show (memorable food and entertainment), After Hours parties (the best of Hawaiian music), and a special Sunday Easter Brunch and egg hunt.

Events are scheduled from 10 am to 5 pm. For tickets, events schedule, and reservations please call 808-669-6200 and speak with the concierge team.


April 9-14:
Billy Yamaguchi
at the Kapalua Spa

Billy Yamaguchi, creator of Feng Shui Beauty concept and celebrity stylist is back in Kapalua fresh off the Hunger Games movie set.

Mr. Yamaguchi will be taking appointments for makeovers and haircuts throughout the week. Special events include a complimentary seminar explaining the concepts of Feng Shui Beauty, the goal of which is to express a person’s inner power and beauty by connecting their inner power and energy with the outside.

On April 14th, join Billy for a special Pacific Cancer Foundation fundraiser, a Feng Shui Color Party, with an exclusive makeover for 8 lucky participants. Guests will receive a one-on-one beauty consultation, hair coloring, hair cut, and make up application, followed by an intimate lunch at Pineapple Grill with Billy. Proceeds will go to the Pacific Cancer Foundation.

Please call the Kapalua Spa at 808-665-8282 to reserve your spot. 

One of the joys of life on Maui is our charming historical towns--from the oceanfront town of Lahaina to the Upcountry town of Makawao, where I grew up.  One of my favorite things to do on a day off is to stroll down Baldwin Avenue and soak up the cool Upcountry air (and stop by Komoda’s bakery for their famous cream puffs, my childhood favorite).

Each Friday, Maui hosts a town party in one four historic towns. The schedule is:

• First Friday--Wailuku (Market Street)
• Second Friday--Lahaina (Front Street)
• Third Friday--Makawao (Baldwin Avenue/Makawao Avenue)
• Fourth Friday--Paia (Baldwin Avenue/Hana Highway)

Tonight is the Second Friday of the month, which means visitors and kama’aina alike will descend upon Front Street in the historic town of Lahaina to enjoy music, food, art and local culture.

The entertainment is free, and there are special offerings from merchants and restaurants. The them of today’s Friday celebration is “The Sounds of Lahaina” with music in Campbell Park (located next to the Baldwin Home on Front Street)

• 5-6 p.m. Wilmont Kahaialiʻi
• 6-7 p.m. Al Nip
• 7-8 p.m. Eddie Tanaka

You’ll find booths supporting local charities in the park, more music up and down Front Street, and kama’aina specials at the Ono Gelato Company, Kimo’s:, Kobe Japanese Steakhouse & Sushi Bar, The Pioneer Inn, Amigo’s Authentic Mexican Food, Cool Cat Café, and Blue Lagoon Lahaina,

And, because Friday night is art night in Lahaina, tonight you’ll find galleries have opened their doors with featured artists, wine and pupus. Stop by the Peter Lik Gallery, Maui Hands (this gallery represents my mother, Sarah Howard), Images Fine Art, Gallery 505, Village Gallery (a little off the beaten path on Dickenson Street--this is one of my favorite galleries), Martin Lawrence Gallery, Lahaina Galleries, Thomas Barbey Art Gallery, and Lahaina Print Sellers to view their featured artists.

For more information on this ongoing series of Town Parties, visit www.MauiFridays.com.  You can also follow them on Twitter http://twitter.com/#!/MauiFridays or Facebook at www.facebook.com/MauiFridays

Artwork courtesy of Sarah Howard, www.SarahKHoward.com

March 7, 2012

Spring tends to be the busiest time of year, and we are seeing increased visitors to Maui in general. According to the Hawaii Tourism Authority (www.hawaiitourismauthority.org), Maui began 2012 with visitor spending in January, the highest on record for that month. Total arrivals to Maui rose 8.7 in January 2012, when compared with 2011: primarily due to increases in visitors from Canada (+12.7%), U.S. East (+7.1%), U.S. West (+2%) and Japan (+7.1%). I found it interesting that the number of visitors was up from California but down from the other West Coast states of Washington and Oregon.

With increased visitor arrivals, we have been seeing an increase in the activity in our real estate market. This holds true for the Kapalua real estate market. The following is an overview of recent activity:

NEW LISTINGS:
We saw six new listings come to market over the last two weeks, ranging from $500,000 to $10,900,000:
CONDOMINIUMS:
Kapalua Golf Villas
12T56 1B/1B $500,000

Kapalua Bay Villas
19G5 1B/1.5B $1,150,000
31G3-5 2B/3B $1,539,000

HOMES:
Plantation Estates
704 Mokuleia 7B/5.5B $10,900,000

VACANT LAND:
Honolua Ridge
98 Keoawa 4.28 acres $895,000
110 Keoawa 4.33 acres $1,250,000

PENDING SALES
There are currently 8 properties pending sale: 5 Golf Villas, 2 Ridge Villas, and 1 Bay Villa.

SALES:
As of this posting, there have been 12 sales recorded within the Kapalua Resort:
CONDOMINIUMS:
Kapalua Golf Villas
18P56: 2B/2B Listed at $559,000, sold at $515,000 REO
18V4: 1B/2B Listed at $575,000, sold at $575,000
12T1: 1B/1.5B Listed at $430,000, sold at $410,000
Kapalua Ridge Villas
1721: 1B/2B Listed at $620,000, sold at $566,000
921-23: 2B/3B Listed at $1,100,000, sold at $895,000
2821-23: 2B/3B Listed at $1,100,000, sold at $1,000,000
Kapalua Ironwoods
52: Listed at $2,750,000, sold at $2,450,000
102: Listed at $3,675,000, sold at $3,425,000
Coconut Grove
18: 3B/3.5B Unlisted, private sale not in MLS, sold at $5,000,000

HOMES:
Honolua Ridge
231 Kaupalena Place, Phase II: Listed at $2,69,000, sold at $2,760,000 Short Sale
Plantation Estates
201 Plantation Club Drive: 4B/5.5B Listed at $4,300,000, sold at $3,000,000

VACANT LAND:
Honolua Ridge
Lot 1, Phase II: Listed at $1,890,000, sold at $1,600,000

Number of Sales:
2010: 41
2011: 43
2012: 12 YTD
Average Sale Prices:
2010: $1,944,707
2011: $2,013,133
2012: $1,849,667 YTD
Total Volume:
2010: $79,733,000
2011: $86,563,862
2012: $22,196,000 YTD

For more information on the Kapalua real estate market, please don’t hesitate to contact me.

Join the Kapalua Spa and Spa Finder for a week of wellness right here in beautiful Kapalua, Maui!

From March 19-25, 2012 the Kapalua Spa will be hosting week of exciting events and activities focused on providing customized fitness plans, classes and wellness tips.

From March 20-25th, specials include:
50-minute personal training sessions for $50
Private 50-minute Yoga Sessions for $50
Private 25-minute Reformer Pilates Sessions for $50
50% off fitness classes

I personally love the Kapalua Spa--it is one of my favorite things about living in the Kapalua Resort.  I love the yoga and bootcamp classes, and if you have a chance, I'd highly recommend booking a personal training series with Tom Ockerman.  He's fantastic! You can meet the Kapalua Spa team at their Wellness Fair and Expo on March 19th from 1-4 pm. 

The Kapalua Spa is located adjacent to the Kapalua Bay Villas and the Ritz-Carlton Residences, Kapalua Bay, across the street from Pineapple Grill.  You can also visit www.wellnessweek2012.com or www.kapaluaspa.com for more information, or join the conversation on twitter using #wellnessweek

The Kapalua real estate market is moving along with nice momentum considering it is so early in the year. Last year, as of this time, the resort had just two sales for a total dollar volume of $4,583,300. This year, we have had 9 sales, with a total volume of $19,891,000.

So far, the sales in the Kapalua Resort have been concentrated at the low and higher ends of the market, with a low of $515,000 and a high of $5,000,000:

Kapalua Golf Villa 18P56: Listed at $559,000, sold at $515,000
This is a two bedroom, renovated villa on the golf course. REO

Kapalua Ridge Villa 1721: Listed at $62,000, sold at $566,000
This is a one bedroom, ocean view villa in original condition.

Kapalua Golf Villa 18V4: Listed at $575,000, sold at $575,000
This is a renovated, ocean view villa.

Honolua Ridge II, Lot 1: Listed at $1,890,000, sold at $1,600,000
Vacant land. Spectacular views.

Kapalua Ironwoods 52: Listed at $2,750,000, sold at $2,450,000
Oceanfront, two bedroom villa with some renovations.

Honolua Ridge II, 231 Kaupalena Place: Listed at $2,69,000, sold at $2,760,000
This Honolua Ridge home is a 4B/4.5B home located on just under 8 acres with oceanviews. It was a short sale.

Plantation Estates, 201 Plantation Club Drive: Listed at $4,300,000, sold at $3,000,000
This Plantation Estates home is a 4B/5.5B home located on 2.35 acres before the gate, with oceanviews.

Kapalua Ironwoods 102: Listed at $3,675,000, sold at $3,425,000
This is an oceanfront three bedroom villa, renovated.

Coconut Grove 18: Unlisted, private sale not in MLS, sold at $5,000,000
This is an oceanfront three bedroom villa with a den. Located on Kapalua Bay.

The overall resort market in 2010 and 2011 was relatively stable across the board:
Number of Sales:
2010: 41
2011: 43
Average Sale Prices:
2010: $1,944,707
2011: $2,013,133
Total Volume:
2010: $79,733,000
2011: $86,563,862

While the market was relatively stable on the whole, it's noteworthy that two high sales in the Plantation Estates ($14,000,000 and $9,600,000) elevated both the average sale price and the total dollar volume. Also, properties were on the market longer in 2011 (by 119 days) and sold at a lower percentage of list price (85% vs. 91%).  

For more information on the Kapalua real estate market, please view the Annual Kapalua Real Estate Market Reports or contact me.

Aloha!

The latest edition of my Kapalua and West Maui Real Estate newsletter is now available online at www.LuxuryRealEstateMaui.com

In this issue,  you'll find updates taken from the Kapalua Resort Annual Sales Reports, which illustrate how sales in 2011 compared with prior years for the Resort in general, as well as by property type (Condominiums, Homes, Land), and by each individual neighborhood.

2011 continued the trend of 2010, with a concentration of sales at the low end of each market segment and record high sales. The average sale price for the resort was buoyed by two record high closings at the Plantation Estates at $14,000,000 and $9,600,000, and several closings at the Ritz-Carlton Residences, Kapalua Bay. With these high sales, the average sale prices for condominiums and homes are only down a little over 20% since the peak. Vacant land prices have been hit the hardest, with average sales prices down 57% since the peak. (I'll be posting a more thorough analysis to my blog in the near future.) This trend seems to be continuing in 2012, where we have had seven sales in the Kapalua Resort to date: 3 ranging from $515,000 to $575,000, 3 ranging from $2,450,000 to $3,245,000 and a Coconut Grove sale recording last week at $5,000,000.

Please don't hesitate to contact me with questions or for updates on the Maui Real Estate market.

Aloha from Kapalua!

The new year is often associated with new beginnings, and for me, in 2012, that holds true. After nearly twelve years with Kapalua Realty, I have been offered a position with Island Sotheby's International Realty.

I will still be based in Kapalua, and continue to specialize in Oceanfront, Golf Course, and Resort Properties in Kapalua, Napili, Kaanapali, Launiupoko, and Wailea/Makena .

I am thrilled to be affiliated with a company with an incredible reputation locally and a global reach. Not only will you be able to view my listings and those on Maui on my website, but also on www.IslandSIR.com and www.SothebysRealty.com

I am in the process of updating my website and my annual year to year comparison reports for the Kapalua Resort for 2011. In the meantime, you can view the 2011 year end statistics for all areas of Maui, as compiled by the Realtor's Association of Maui.

I look forward to continuing to work with you.

More soon...

My contact information remains the same:
Courtney Brown, R(S)
808.250.0210
cb@LuxuryRealEstateMaui.com