Maui Ultra Luxury Market Strong

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Maui’s high end luxury market appears to be going strong. There were three very high end closes on the MLS today including the highest residential sale to date on Maui. The properties were located in the three resort communities of Wailea, Kapalua and Makena respectively. A 6,200 square foot home in the Wailea Highlands subdivision sold for $6,850,000. The home is situated on a just under a half acre in a gated community. It boasts an open floor plan, top quality materials and huge views. The next big sale today was a 7920 square foot ocean front home in Kapalua in the prestigious Kapalua Place Subdivision. This spectacular home closed for $13,940,000. This is the highest priced sale to date in Kapalua. Last but not least, a new high water mark has been set for single family home sales prices in Maui. A 4,868 square foot home on 1.69 oceanfront acres just sold in Makena for $19,200,000.

While the pace of sales in our market has slowed overall, there appears to be pretty good traffic in the ultra high end market. In the past six months, there have been 16 closes over $5,000,000. It will be important to remember the three high end closes today when next month’s real estate statistics come out. Three closes of this dollar value have a pretty good chance of skewing our average sales price.

If you are interested in Luxury properties on Maui, feel free to contact us at any time for listings or additional information.

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