Kapalua Resort Records Robust Real Estate Sales in 3rd Quarter

Kapalua Aerial. Courtesy photo, Kapalua Realty.

By Maui Now Staff

Kapalua Resort is reporting a “remarkable number” of high-end sales during the third quarter of 2014, including strong sales at the Montage Residences Kapalua Bay.

Sale of property in the resort exceeded $52 million in the 3rd quarter, up almost 52%, or approximately $18 million from 2013, the company reports.

Notable sales during the quarter include:

• a Montage Residence Kapalua Bay unit being sold at $8.25 million; and
• 2 vacant Plantation Estates lots selling at $2.6 million and $2.55 million respectively.

Since officially opening sales in the 3rd quarter, the Montage Residences Kapalua Bay, recorded six sales ranging in price from $4.3 million for a 3 bedroom/3.5 bath unit, to $8.25 million for a 4 bedroom/4.5 bath unit.

“We had a very active quarter in the Kapalua Resort with strong condominium sales totaling almost $43 million,” said Sharen Sylva, Principal Broker for Kapalua Realty in a company press release.

According to Sylva, there were two land sales that totaled $5.15 million, and one single family residence sold for $4.9 million.

“This is a great trend at the Kapalua Resort that is reflective of the real estate market moving in a strong direction for second home sales. Buyers are seeing value for their purchase at Kapalua including the natural beauty of the resort, an authentic sense of place and uncrowded resort living,” she said.

Kapalua Realty specializes in the sale of premier residences in the Kapalua Resort area, and is the exclusive listing agent for the resort developer.