Two properties along Maui’s pristine coastline are among just a handful that fall into the multi-million dollar category for luxury homes with a price tag at above $30 million.
Maui’s most expensive active listings include:
A third home, located at 38 Ualei Place, near the intersection of Mākena Alanui Drive, was listed at $35 million, and is pending sale, with the agent continuing to show the property, according to online records.
There are two other properties that are in the $20 million plus category, that have been on the market for more than 200 days, including:
Over the last three years, there have been at least 78 homes sold at over $10 million on Maui, according to a search of the Compass website.
On Maui, there are currently 17 homes listed at above $10M+.
For Maui properties listed at $10M+, the number of sales increased 450% from two sales in 2019 pre-pandemic (Jan. to Sept.) to 11 this year, Jan. to Sept., according to data compiled by Compass, a real estate platform that pairs industry talent with technology to streamline the search and sell experience.
The price per square foot for homes in this same category ($10M+), increased 13.3% from $3,031.47 in 2019 pre pandemic (Jan. to Sept.) to $ 3,437.00 this year (Jan. to Sept., 2022).
The $41.9 million 6,645 square foot Kapalua estate is located on 9.9 acres near the popular Cliff House swimming spot, and adjacent to the Montage Kapalua resort.
It was purchased by wealthy blockchain entrepreneur, Jonathan Yantis in 2020 for $24 million, according to county records. In 2019, the luxury property was listed for $37.5 million; and for $59.5 million in December of 2021. A new listing posted 14 days ago by Tyler Coons with Welcome Hawaii Properties, has the property for sale at an asking price of $41.9 million.
“Hawea Point at 9 Bay Drive is a trophy property that comes to market maybe once in a person’s lifetime, and when it’s gone, it’s gone,” said listing agent Tyler Coons in an email communication with Maui Now. “We have thought long and hard about our pricing and are very confident we will find that special person who falls in love with the home and will enjoy it for many years to come.”
The listing highlights the views of Lāna’i and the waters of Nāmalu Bay, and says the property offers “unparalleled luxury while maintaining a low profile.” The home’s spa-like amenities feature “backlit onyx walls and luxurious soaking tubs with eye-level windows.” There’s wood-lined cathedral ceilings with skylights in both the kitchen and living areas, adding “warmth and dimension” within, according to the listing. There’s also a Tesla charger in the three-car garage with access to the home’s private gym.
“As for the market in Hawaiʻi, we are blessed with the dream location of ‘Paradise.’ Many of our buyers have been planning for the last 10, 15, or 20 years to make their home here, taking in the ocean views and listening to the palm fronds rustle in the balmy tropical breeze,” said Coons. “You just can’t stop that type of momentum. Today, on top of that, we have a new affluent demographic in the marketplace who can work remotely. This adds a new dynamic to the market that we have never seen before. With these factors in mind, we are very optimistic about the future of the luxury market in Hawaiʻi.”
View the full listing of the 9 Bay Drive property here.
The $35 million Mākena property was built in 2010 on 0.6 oceanfront acres. The property features five ensuite bedrooms, five full baths, two half baths, and 7,394 interior square feet.
Listing agent, Chelsea Dimin of Compass said, “This is the most contemporary style property with Modernism architecture on Maui. There simply is not anything like it that combines a modern design with the earthy experience of expansive ocean views and the West Maui Mountains from almost every room.”
Designed by renowned Maui architect, Rick Ryniak, this residence showcases clean lines, curved glass and white walls, creating an “artful elegance.”
Davis notes that this property is unique, “because it is situated right above the water on a lava rock point that’s oriented to view inner islands and the West Maui Mountains. It faces North/North West so it doesn’t get blasted by the sun, and there’s no heat gain. From the moment you walk in to the pivoting steel front door, the soaring ceilings and two story windows take your breath away,” she said.
The listing notes that sliding glass pocket doors “maximize sweeping ocean views” and “invite cooling Tradewinds to wrap around the dining area.”
The Mākena property is gated and is located at the end of a cul-de-sac.
The property features a rooftop jacuzzi and 400 square foot roof top observation deck. There’s also “resort-like spa amenities” including two heated saline swimming pools, a cold plunge pool, dry sauna, steam room and fitness room.
Visit the full listing for the Mākena property here.
For Maui properties ranging from $5M-$10M, the median sales price increased 5.8% year-over-year from $6,293,750 (Jan. to Sept. 2021) to $ 6,660,000 (Jan. to Sept. 2022), according to Compass.
When comparing 2022 to pre-pandemic levels for homes in the $5M-$10M category, Compass reports the following:
Maui’s median sales price for single family homes sold in September rose to $1,025,000, up 3.0% from the year prior, according to the latest data released by the Realtors Association of Maui. In the condominium market, the median sales price was $800,000, up 9.7% from the year before.