Big Island Sales Data: Hualalai Resort – Velocity / Absorption

October 18, 2013

Hualalai and Kukio Membership Communities

Hualalai and Kukio Membership Communities – Photo Source: Bing Maps

The Hualalai Resort is a 625-acre membership community that includes a world class hotel, the renowned Four Seasons Resort Hualālai at Historic Ka‘upulehu, and two golf courses: the Hualālai Golf Course, designed by Jack Nicklaus, and the Ke‘olu Course, designed by Tom Weiskopf.

In addition, the project district is entitled for eventual development of up to 700 residential units, and has been selling single family homesites and luxury low-rise condominium units since 1996.

This graph tracks the number of single family, condominium, and vacant lot sales at Hualalai Resort since the onset of the worldwide financial crisis in late 2008 .

Hualalai Resort Sales Per Year

As shown, absorption in the early part of the recovery period 2009-2011 was relatively stable, with a total of 25 to 28 sales per year.  2012 saw a meaningful bump up to 34 sales, and as of October 1, 2013, the 2013 calendar year is on pace for more than 50 sales in the prestigious community–nearly one a week.

Questions or comments?  Please leave them in the comment  box below, I would be happy to clarify and/or expand.

Aloha, Chris

Please read my disclaimer.

Filed under Hawaii Real Estate Data and Analysis, Hawaii Resort Real Estate, Honolulu Luxury Condos Tagged with , , , , ,

Maui Million Dollar Home Sales ($1.0M+) – Day 2 of 10 – Sale Prices

September 19, 2013

From January 1, 2012 through September 16, 2013, a total of 231 “million dollar plus” homes sold in Maui County, generating total volume in excess of $525 million.

There are many ways that Hawaii real estate appraisers analyze sales statistics for luxury homes.  Because a proper market study for this segment would run many pages, I am posting one article per day for ten days.

Day 2 of 10 – Maui Million Dollar ($1.0M+) Single Family Homes By Sale Price

Consider the following graph and chart:

Maui Million Dollar Homes By Sale Price

Maui Million Dollar Homes By Sale Price

Maui Million Dollar Single Family Homes By Sale Price
Sold From 1/1/2012 through 9/16/2013
Sale Price # of Sales % of Total
$1.0 M to $1.9 M 157 68.0%
$2.0 M to $2.9 M 31 13.4%
$3.0 M to $3.9 M 18 7.8%
$4.0 M to $4.9 M 9 3.9%
$5.0 M to $5.9 M 5 2.2%
$6.0 M to $6.9 M 2 0.9%
$7.0 M to $7.9 M 1 0.4%
$8.0 M to $8.9 M 4 1.7%
$9.0 M to $9.9 M 3 1.3%
More than $10.0 M 1 0.4%
Total 231 100.0%

The data shows a predictable trend, with more than 80 percent of the “one million plus” sales on Maui being in the “under $3.0 million” price range.  Although a handful of high profile Maui luxury homes have sold in the past few years for prices in excess of $20.0 million, MLS records show only one residence eclipsing $10.0 million since January 1, 2012.

Bottom Line: Price Matters

There is healthy market activity in Maui’s “million dollar plus” category, but the overwhelming majority of sales (nearly 90 percent) sold for less than $4.0 million.

Questions or comments?  Please leave them in the comment  box below, I would be happy to clarify and/or expand.

Aloha, Chris

Filed under Hawaii Oceanfront Real Estate, Hawaii Real Estate Data and Analysis, Hawaii Resort Real Estate, Statistics Tagged with , , , , , ,