The two properties along Maui’s pristine coastline are among the few properties in the multi-million dollar category of luxury homes priced above $30 million.
Some of the most expensive active listings on Maui include:
- $41.9 million home on 9 Bay Drive in Hawea Point, Kapalua. (14 days on the market)
- $35 million property at 4572 Makena Road on Maui’s south shore. (21 days on the market)
A third home at 38 Ualei Place, near the Makena Aranui Drive intersection, is on the market for $35 million, and agents continue to show properties, according to online records.
There are two other properties in the $20 million+ category that have been on the market for over 200 days.
- $24.5M Home in Unit 92, 20 Kai Ala Drive, Lahaina (206 Days on Market)
- $22.5 million property at 4557 Mākena Road, Kīhei (on the market for 265 days)
In the past three years, at least 78 homes on Maui have sold for $10 million or more, according to a search of the Compass website.
450% increase in sales of luxury homes above $10 million since 2019
Maui currently has 17 properties priced at $10 million or more.
According to data compiled by Compass, the number of Maui real estate sales listed at $10 million or more increased 450% from two sales in 2019 before the pandemic (January to September), and this year’s From January to September it was 11. A real estate platform that combines industry talent and technology to streamline the search and sell experience.
Prices per square foot (over $10 million) for homes in this same category have gone from $3,031.47 in 2019 (January to September 2022) before the pandemic to $3,437.00 this year (January to September 2022). increased by 13.3%.
9 Bay Drive at Hawea Point, Kapalua
The $41.9 million 6,645 sq. ft. Kapalua Estate sits on 9.9 acres near the popular Cliff House swimming spot and is adjacent to the Montage Kapalua Resort.
It was purchased by wealthy blockchain entrepreneur Jonathan Yantis for $24 million in 2020, according to county records.of 2019, the luxury property was listed for $37.5 million. $59.5 million in December 2021. listing Posted 14 days ago by Tyler Koons of Welcome Hawaii Properties, the property is for sale at an asking price of $41.9 million.
“Hawea Point on 9 Bay Drive is probably a once-in-a-lifetime trophy property that hits the market and when it’s gone, it’s gone,” listing agent Tyler Coons said in an email correspondence with Maui Now. rice field. “We’ve been taking pricing seriously for a long time, and we’re confident we can find that special someone who will fall in love with the home and enjoy it for years to come.”
The listing highlights ocean views of Lanai and Namal Bay, which it says offer “unparalleled luxury while remaining discreet.” The home’s spa-like amenities feature a “luxury bathtub with backlit onyx walls and eye-level windows.” According to the listing, both the kitchen and living area have wood-lined cathedral ceilings with skylights, adding “warmth and dimension” to the interior. There is also a Tesla charger in his three-car garage with access to his private gym at home.
“When it comes to the Hawaiian market, we are blessed with a dream location called ‘paradise.’ I had planned to take in the scenery and hear the rustle of palm leaves rustling in the refreshing tropical breeze. We have a new affluent demographic to work with, which 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 Hawaii luxury market. ”
See the full list of 9 Bay Drive properties here.
4572 Makena Road
The $35 million Makena property was built in 2010 on 0.6 seafront acres. The property has 5 ensuite bathrooms, 5 full baths, 2 half baths, and 7,394 square feet of interior.
Compass listing agent Chelsea Dimin said: Nothing else combines modern design with expansive ocean views from nearly every room and the rustic experience of the West Maui Mountains. “
Designed by renowned Maui architect Rick Ryniak, the mansion features clean lines, curved glass, and white walls to create an “artistic elegance.”
Davis says the facility is unique. It faces north/northwest so it doesn’t get blown away by the sun and doesn’t add heat. “From the moment she steps into the revolving steel front door, the soaring ceilings and her two story windows are breathtaking,” she said.
The listing notes that sliding glass pocket doors “maximize ocean views” and “invite the cool tradewinds enveloping the dining area.”
Makena’s property is gated and located at the end of a cul-de-sac.
The property has a rooftop jacuzzi and a 400 square foot rooftop observation deck. There are also “resort-like spa amenities” including two heated saline pools, a cold plunge pool, dry sauna, steam room, and fitness room.
See our full listing of Makena properties here.
Median price increases for homes below $10 million
According to Compass, the median sales price for Maui properties in the $5 million to $10 million range has increased year over year from $6,293,750 (January to September 2021) to $6,660,000 (January to September 2022). month) increased by 5.8%.
Comparing 2022 to pre-pandemic levels for housing in the $5 million to $10 million category, Compass reports:
- Sales in the $5M to $10M price range increased 242% from 7 in January-September 2019 to 24 in January-September of this year.
- Median revenue between $5 million and $10 million rose 5.7% from $6,300,000 pre-pandemic in 2019 to $6,660,000 from January to September 2022.
- The price per square foot of a $5 million to $10 million home increased 28.9% from $1,309.16 in January-September 2019 to $1,688.87 in January-September 2022.
Maui Median The latest data released by the Maui Real Estate Association shows that the sales price of single-family homes sold in September rose 3.0% year-over-year to $1,025,000. In the condominium market, the median sales price was $800,000, up 9.7% from the previous year.