The latest edition of the Kapalua Resort Newsletter and Real Estate Market Update is now available online.

The Kapalua Resort real market continues to show an increase in sales volume over the same period in 2009.  Average sales price remains fairly constant, though the highs and lows are more pronounced.  Current MLS market summaries are posted for each property within the Kapalua Resort, as well as resort areas in Kaanapali and oceanfront properties island wide.  Links to this information follows at the end of the newsletter.  To view the newsletter and all statistics, please visit www.LuxuryRealEstateMaui.com/newsletter.asp

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

The Ritz-Carlton Residences, Kapalua Bay: Maui Real Estate Market Update

The Ritz-Carlton Residences, Kapalua Bayare Maui’s newest luxury real estate development.  Overlooking Kapalua Bay, and situated on 21 oceanfront acres in the resort, this is one of the most beautiful locations in the islands.  The picture above was taken from the lanai of one of the Residences.  Completed in the summer of 2009, the property is comprised of 84 wholly owned condominium residences and 62 fractional residences, which are managed by the Ritz-Carlton Club and Residences. 

While there is developer inventory remaining, as of this post, there are also two resales available in MLS listed at $4,250,000 and $4,500,000.  Contact me for a complete list of available developer properties.

The most recent closing is 1503 at $5,735,000, which occurred this past week, on 8/24/2010.  A summary of MLS activity follows.  In addition to the sales detailed below, please note that Exclusive Resorts closed on 15 Residences in a bulk sale in 2009.

Kapalua Bay Villas: Maui Real Estate Market Update

My listing partners and I are pleased to announce that our listing, Bay Villa 35G4, is now pending sale at a list price of $1,575,000.  This is a two bedroom, upgraded, oceanfront villa. There are currently three other escrows at the Bay Villas:
17G5   1B/2B   $675,000 Short Sale
12G4   1B/1B      $675,000 Short Sale
14B2   1B/1.5B   $995,000

As of this post, there are 26 active listings at the Kapalua Bay Villas in MLS:
18 1-Bedroom Listings ranging from $624,000 to $1,425,000
8 2-Bedroom Listings ranging from $1,495,000 to $2,500,000 

Since January, 2010, there has been one sale, 21G2, which is a two bedroom ocean front villa in original condition.  The outstanding location is reflected in its sale price at $1,700,000.

For more information on the Bay Villas, including active listings, 2010 market summaries, past sales history, floorplans, maps, and building layouts, click here or contact me.

I am pleased to announce the sale of Kapalua Ridge Villa 2824! 

The view from Kapalua Ridge Villa 2824

Kapalua Ridge Villas
The Kapalua Ridge Villas are perched overlooking Oneloa Bay.  There are 161 villas located in 28 buildings situated on 21.5 acres.

Current Market Summary:
As of this posting, there are currently 25 active listings on the market at the Ridge Villas. Asking prices for one bedroom villas currently range from $630,000 to $1,050,000, and from $1,195,000 to $1,750,000 for two bedroom floorplans.

Since January 1, 2010, there have been three sales at the Ridge Villas:
2323 at $950,000:  a 2 bedroom/3 bath ocean view, second floor, townhouse floorplan, in original condition
2512 at $500,000:  a 1 bedorom/2 bath garden view, ground floor, single level floorplan, in upgraded condition
2824 at $638,000:  a 1 bedroom/2 bath oceanview, second floor, single level floorplan, Gold villa upgrades

Click market reports to view annual comparisons and market trends at the Ridge Villas over the last ten years.  For more information on the Ridge Villas or any other Maui real estate, please don’t hesitate to contact me.

Rob and I are pleased to announce the listing of Alaeloa #2.  This bungalow is a single family residence on condominiumized grounds, allowing you the privacy of a home without the headache or hassles of maintaining the grounds.  This home features spectacular ocean, island, and sunset views. 

Alaeloa is truly a special place, evocative of the spirit of Old Hawaii.  Nestled on 13 oceanfront acres, Alaeloa features residences with spectacular ocean, island and sunset views.  As you walk along the water to the small crescent shaped beach, you are surrounded by Mango trees are lush with fruit.  There is a large heated pool and pavilion overlooking the bay.  Owners here enjoy the lifestyle that being on the water affords, and you’ll find a place to store your own personal kayak. 

At the time of this post, there are 7 residences actively listed in MLS, ranging from $349,900 to $2,395,000 Leasehold.  For more information on Alaeloa, including the lease rent schedule, Rob has a dedicated section of his website: www.MauiLuxuryProperties.com/Alaeloa.asp  

The Kapalua Spa: August Specials

The Kapalua Spa is offering three specials featuring Pure and True Organic Beauty:
50 Minute Facial: $119
80 Minute Facial: $169
80 Minute Manicure and Pedicure with paraffin wax: $119
*Tax and a 20% service fee will be added to all services.

Treat yourself to a Pure and True Organic experience!

Maui Land & Pineapple: Kapalua Resort Update

Maui Land & Pineapple (NYSE: MLP) announced that it has successfully retired all of its $40,000,000 of senior secured convertible notes utilizing proceeds from the just completed $40 million shareholder rights offering.  Remaining capital from the rights offering will be used as working capital for resort and real estate development operations.   

Also reported today: AOL co-founder, Steve Case, purchased MLP shares under the rights offering last week and a separate transaction today, thereby increasing his ownership of the company to 62.8%.

According to their second quarter filings, Maui Land & Pineapple reported operating losses of $4.6 million and consolidated revenues of $8.3 million. This is compared with losses of $54.2 million and revenue of $8.7 million in the same period in 2009.  Amongst MLP’s holdings is the approximately 21,800 acre Kapalua Resort.  The company underwent significant changes in 2009:  Agricultural operations ceased, the Plantation Course was sold for $50 million, and MLP leased out both the Kapalua Adventures and Kapalua Villas to third party operators. The decrease resulting from no longer operating the Villas and Adventures was reportedly offset by improvements in golf and spa operations, an increased visitor count in 2010, and general cost reduction measures.  You can read more online www.mauiland.com, Investor Relations.

The latest issue of my Kapalua Maui Real Estate Newsletter and Market Update is now available online at www.LuxuryRealEstateMaui.com/newsletter.asp

Here’s a sneak peak: The real estate market in the Kapalua Resort continues to pick up momentum. Sales volume is up 38% over the same time last year. Average prices remain fairly constant, however, it is noteworthy that the low sales prices this year were 20% lower and the highs were 32% higher than in 2009.

The newsletter provides detailed market statistics including information on active listings, sales, short sales, bank owned properties, and more. 

The Plantation Estates in Kapalua is one of Maui’s most desirable neighborhoods.  Nestled along the famed Plantation Course (home to the PGA’s season opening SBS Championship), these two plus acre homesites feature a variety of stunning views: the Kapalua coastline, the neighbor islands of Lanai and Molokai, the setting sun, whales in winter, and the golf course itself. 

My listing partner, Rob Shelton, and I are pleased to announce our new listings at 600 and 602 Honokohau Street.  Inspired by 19th Century Craftsman-style Hawaiian Homes, 602 Honokohau is an exceptional home, situated on 2.33 acres along the 16th fairway of the Plantation Course.  Featuring many gorgeous details and touches, the home is designed to seamlessly take in the beauty of the surroundings and the panoramic, unobstructed views of Molokai, Lanai, and the Pacific.  The attention to detail, quality of materials, and workmanship is unsurpassed in this one-of-a-kind home.  600 Honokohau, the neighboring 2.34 acre homesite is also available.

At the time of this post, there are twelve homes listed for sale (Maui MLS) in the Plantation Estates/Honolua Ridge, ranging from $4,450,000 to $16,000,000.  There have been two sales this year, 223 Plantation Club Drive at $3,900,000 and 708 Mokuleia at $7,125,000, both of which were our listings.  There are just eight home sites offered for sale, ranging from $995,000 to $2,950,000.  There have been no land sales since the beginning of this year.  

While vacant land sales have been flat in the resort in 2010, home sales are on the rise.  We have had five sales ranging from $2,750,000 to $7,125,000 in the first seven months of 2010, compared with the same number of sales ranging from $1,700,000 to $2,650,000 in all of 2009. 

For more information on the Plantation Estates, Kapalua Resort, and Maui real estate, please don’t hesitate to contact me.

Please join me at an art reception featuring large format artwork from 19 talented Maui artists (including Betty Hay Freeland, Linda Whittemore, and my mother, Sarah Howard who is the artist for the Koi Painting above and the background of the event invitation). 

When:
Friday, July 23, 2010
6-9 pm
Where:
Pacific Dreams, 878 Front Street, behind Longhi’s and next to Ulalena

Download the Invitation