By Wendy Osher
A Balinese and Hawaiʻi-inspired beachfront home in Keawakapu, Maui is on the market, listed at $38 million. It comes up for sale as a separate property down the road, also in Keawakapu sold for a record $45 million.
There have only been three sales above the $30 million mark in the history of Maui home sales, according to the listing real estate firm, which cited data available through the REALTORS Association of Maui.
There have been less than 10 properties in Maui County that have ever sold at above the $20 million price tag, according to a search of MLS records. Four of those were along this prime stretch of beach on the border of Kīhei and Wailea.
The residence at 3090 South Kīhei Road was built in 2000, and features five bedrooms, seven bathrooms, and offers a total of 6,492 living square feet.
Highlights of the property include a large oceanfront master suite, three four-room family en-suites that include a parlor, bedroom, bathroom, and covered lānais all facing the ocean. In addition, there is an attached caretaker’s unit along with a separate driveway. The total land area is 27,588 square feet.
Listed by Damien Zanolini, a Global Luxury Certified Specialist with Coldwell Banker Island Properties, Zanolini said, “In my 20-plus years of experience in real estate, this is the nicest home I have ever seen. The craftsmanship is impeccable, and the privacy is unrivaled—it is the perfect beachfront property.”
In June of 2021, the median home sales price on Maui increased 44.5% to $1,117,500 for a single family home, and 26.2% to $635,000 for condominium homes, according to the REALTORS Association of Maui.
Days on Market decreased 27.3% for single family homes and 16.1% for condominium homes. Months Supply of Inventory decreased 60.4% for single family homes and 81% for condominium homes.
In its latest monthly Market Statistics Report for June 2021, RAM noted that “an increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition.”
The RAM cited Commerce Department data saying home builders are trying to meet the increased market demand, with housing starts up 3.6% in May from April.
For an MLS description of the Keawakapu property click here: https://www.coldwellbankerluxury.com/property/3090-s-kihei-rd
Note: This story was updated to include a newly closed sale also in Keawakapu that was added to the MLS late Monday, Aug. 2, 2021.