Kapalua Bay Villas – Pre-2002 Prices?

With a number metrics showing signs of a recovery in the Maui real estate market, some experts have said that we have scraped the bottom of the market and will be experiencing stabilization (which will hopefully be followed by long-term appreciation). And while on a previous Maui real estate update general trends were analyzed, it is important to note that Maui’s micro-markets are highly segmented and experience different levels of buyer interest, sales volume, and valuation from one another.

As such, let’s take a look at one specific property: Kapalua Bay Villas.  As a favorite among West Maui visitors, how has KBV performed through the cycles of the market? Look at the chart below which shows its ascent of average/median sales prices during the peak of the market to its current position through 2011.

KBV Chart

To give it some perspective, in 2011 there were 8 sales at a price per square foot of $745.91. Yet in 2002, 16 sales reflected a price per square foot of $805.54. Few other vacation-rentable, waterfront properties in Hawaii offer this type of opportunity. Does it mean that KBV is reflective of the overall trends in the Maui real estate market? No, but it clearly illustrates that now is a phenomenal time to invest in Kapalua Bay Villas.

A perennial favorite among West Maui visitors, KBV enjoys a well-earned reputation as one of the better values in Hawaii oceanfront properties. Located atop 16 acres of prime West Maui real estate, owners and visitors enjoy exclusive use of three pools, tennis courts, a recreation area, and one of the most enviable locations in the world with unobstructed views of the Pacific. Potential buyers can find the perfect size among the one hundred and forty one KBV units which range in size from 1 bedroom / 1 bathroom (1,006 square feet) all the way to incredibly spacious 2 bedroom / 3 bathroom (1,547 square feet). With floor plans  built to maximize ocean views, for many the favorite part of the day is lounging on the lanai while seeing whales breach. And of course, Kapalua boasts some of the world’s best golf courses, D.T. Fleming Beach, the world-renown Kapalua Bay Spa, and a plethora of dining establishments where chefs master their culinary skills.

For buyers interested in pursuing investment opportunities on Maui, it is critically important to be represented by a qualified real estate professional knowledgeable in the area. Contact Island Sotheby’s International Realty for more information.