Spreckelsville Market Update April 2024

Spreckelsville Market Update April 2024 Cover
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It’s been a while since we did a more granular community-level update on the blog. There is no better place to start than Spreckelsville, one of our office’s favorite neighborhoods. Our broker and one of our agents are long-time residents of the community and know it as well as anyone in the business.

Spreckelsville is located between the Kahului airport and Paia town. It is Maui’s best neighborhood for wind and water sports and is home to the Maui Country Club. There is even bike path access to the shops, restaurants, and wellness-related amenities of Paia. The fantastic lifestyle offered makes it one of the more low-key luxury communities on Maui.

Recent Spreckelsville Market Activity

This post looks at recent market activity in the neighborhood including recent sales and current inventory.

The map above shows recent sales and active listings in Spreckelsville. Sales are represented by red pins and active listings are indicated by green pins. You can find out more about the properties by clicking on the pins.

Notes on Spreckelsville Market Activity

The 2023 calendar year is the first and only year with no recorded sales in Spreckelsville on the MLS, which has data going back to 2002. Other low sale years include 2010, with one MLS sale, and 2018, with two sales. The lack of sales reflects both limited inventory in the neighborhood and a quieter year of market activity overall on the island.

There was one off the MLS sale, and it was a big one. 580 Stable Road closed for $16,000,000. This two-acre beachfront property with a home, pool, and tennis court is the third-highest-ever sales price in Spreckelsville.

The first four months of 2024 saw increased activity with three home sales. The highest-priced sale was at 477 Laulea Place. The house and cottage on an approximately 35,000-square-foot oceanfront lot sold for $11,500,000. While it was reported on the MLS, it was an off market sale.

The other sale worth noting from early 2024 is 2365 Waipua Street. This 4,004 square-foot home with a pool in the Sprecks V subdivision is notable for two reasons. First, it is the highest sale price in this subdivision by a good margin. It closed for $3,175,000. The previous high sale closed for $2,300,000 albeit that was before COVID-19 in January 2020. It is also the first sale in this part of Sprecks since 2021.

Sprecks V used to see more market activity than any other part of Sprecks. It would appear that as Sprecks’ appeal increases, turnover in the lowest-priced part of Spreckelsville decreases. Then again, that may be a reflection of the small sample size. We shall see what future inventory brings.

Current Sprecks Inventory

The inventory of Spreckelsville Homes for Sale is limited at this time. The only home on the MLS is 22 Cane Place. Listed by Martin Lenny from our office, the five-bedroom, five-bathroom home has 3,291 square feet of living space. It is situated on just over 2 acres dotted with Coconut Palms, Monkey Pod Trees, Mango, Papaya, and Plumeria. It has a gated pathway that it shares with other homes in the Kai Holu subdivision that leads to the beach access for Sugar Cove. It is offered for $7,250,000.

22 Cane Place in the Kai Holu subdivision of Spreckelsville.

Sprecks is a community with a higher-than-usual percentage of unlisted and off-market sales. Billy and Martin always have their ears to the ground for opportunities outside the MLS.

Market Outlook for the Rest of 2024

After the quiet of 2023, the last few months marked a resurgence for the Spreckelsville Real Estate Market. That said, we need to see an influx of new inventory or unlisted sales to see the sales volumes of 2021 or 2022. This is common for a neighborhood where scarcity of inventory tends to suppress transaction volume. If you are interested in buying or selling in the neighborhood, give us a call or send us a message.

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