Spotlight on Kapalua’s Pineapple Hill & Pineapple Hill EstatesNovember 11, 2019, 10:47 AM HST · Updated November 11, 10:47 AM Courtney M. Brown R(S) · 0 Comments
Kapalua’s Pineapple Hill and Pineapple Hill Estates is a popular neighborhood in the heart of the Kapalua Resort.
Pineapple Hill is the first phase of the development and was originally designed with 99 homesites, most being a quarter-acre, though many of them were consolidated to make larger lots. Owners must build one of six floor plans (thought modifications are allowed with approval from the Design Review Committee), unless buildling on two or more contiguous lots, in which case a custom home is permitted.
Pineapple Estates was annexed in early in 2001, with 31 homesites being integrated into the community. Lots are larger (approximately a half-acre) and custom homes with a 25-foot roof height are permitted, with the caveat that two-story construction is only allowed on the top row.
With a mix of older and newer construction, we have seen some lower sales in Pineapple Hill in the past few years. However, average sales prices have been increasing as has the volume of sales, particularly when comparing October of this year with October of 2018 and 2017:
Pineapple Hill Real Estate Market Update:
After a slow 2018, the real estate market for homes for sale in Pineapple and Pineapple Hill Estates has picked up dramatically. At my last Pineapple Hill Market Update in July, the volume was 96% over 2018, and is now up to 249%. Sales volume has surpassed that of 2016, which was the high in terms of volume in the past five years. Available listing inventory of homes for sale in Pineapple Hill & Pineapple Hill Estates is decreasing with the absorption rate dropping from 18.6 months in July to 8.6 months at the time of this post.
The Kapalua Residential Market:
While the bulk of the sales in Kapalua have been in Pineapple Hill, there have been two homes to sell in Honolua Ridge at $2,850,000 and $3,270,000 and one home to sell in the Plantation Estates Phase II at $6,000,000
View current listings: http://www.luxuryrealestatemaui.com/communities.php
*By Courtney Brown, Sotheby’s International Realty. This story was originally published at the following LINK.