Million Dollar West Maui | Ultra Lux Residential Market Selling
Ever wonder how the million dollar real estate market compares to everything else? Given the nature of West Maui’s high-profile resort real estate environment, it’s an easy question, or assumption to make, “everything costs a $1,000,000+.” And plainly put, I’m here to share that in some/many neighborhoods of West Maui, it absolutely does.
Additionally, if the $1M luxury mark is an indicator of real estate health of what’s to come in the market, what sort of condition are we in?
In this regular feature article, I breakdown the $1 & $3M+ luxury thresholds to give you a closer look and understanding of West Maui’s real estate sector through the multi-million dollar lens.
Million Dollar West Maui | Mid Way-ish 2020
- There were 139 sales transactions recorded for $1M or more (out of 426 total sales).
- Those 139 sales comprised 32% of the entire West Maui real estate market.
- Home residential makes up 35% of the $1M+ market | Condos 63%
- A + 5% increase in sales volume compared to this time in 2019 – considering our business & travel environment this is pretty staggering.
- Some BIG numbers have been transacting in West Maui
- 3 West Maui homes have sold this year for north of $10M+
- A beachfront 1-acre Kapalua land parcel went for $8M.
$1M+ West Maui Historical Summary
| Year | $1M+ | % + or – | % Over $1M | Home | % + or – | Condo | % + or – | Land | % + or – |
| 2020 | 139 | 5% | 32% | 49 | -12% | 87 | 17% | 3 | -37% |
| 2019 | 207 | 2% | 27% | 82 | 5% | 117 | 2% | 8 | -11% |
| 2018 | 202 | 17% | 29% | 78 | -4% | 115 | 39% | 9 | 0% |
| 2017 | 173 | -1% | 27% | 81 | 5% | 83 | -2% | 9 | -31% |
| 2016 | 175 | 14% | 26% | 77 | 28% | 85 | -3% | 13 | 117% |
| 2015 | 154 | -6% | 27% | 60 | 0% | 88 | -6% | 6 | -40% |
$1M+ sales have historically accounted for roughly 26-29% of the entire West Maui market over the past 5+ years.
$3M+ Residential Market
$3M+ Historical Residential Sales Summary
| Year | Avg List Price | Avg Sold Price | % list/sold | % + – yr | $/Sq Ft | DOM | # Sold |
| 2020 | $7,364,747 | $6,817,111 | 93% | 60% | $1,411 | 179 | 12 |
| 2019 | $4,719,300 | $4,250,350 | 90% | -12% | $1,007 | 260 | 20 |
| 2018 | $5,271,357 | $4,854,964 | 92% | 31% | $1,133 | 280 | 20 |
| 2017 | $3,881,125 | $3,697,125 | 95% | -25% | $930 | 263 | 16 |
| 2016 | $5,550,611 | $4,937,333 | 89% | 35% | $1,248 | 163 | 18 |
2020 $3M+ Residential Sales Details
$3M+ Condo Market
$3M+ Historical Condo Sales Summary
| Year | Avg List Price | Avg Sold Price | % list/sold | % + – yr | $/Sq Ft | DOM | # Sold |
| 2020 | $3,843,833 | $3,664,000 | 95% | -15.22% | $1,686 | 216 | 6 |
| 2019 | $4,485,227 | $4,321,591 | 96% | -1.39% | $1,873 | 147 | 22 |
| 2018 | $4,506,227 | $4,382,537 | 97% | 0.58% | $1,846 | 162 | 22 |
| 2017 | $4,455,909 | $4,357,409 | 98% | 0.81% | $1,736 | 100 | 22 |
| 2016 | $4,494,643 | $4,322,522 | 96% | 5.93% | $1,652 | 155 | 14 |
Wanna Know More?
If you are in the market for buying or selling West Maui luxury real estate or have any questions about the area or the market in general, please feel free to contact me. I welcome the opportunity to give you information on my previous sales performance and marketing strategies. Or if you’re curious about what your property is worth in today’s market, it would be my pleasure to provide you with property information and a value assessment free of any sales pitch.
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Jeff Onderko is a REALTOR Broker with Hawai’i Life.
West Maui Real Estate Broker, and ultra enthusiastic advocate of Maui’s Lahaina, Kaanapali and Kapalua areas. I truly believe it’s an honor & privilege to call Hawaii home. For 17 years now, West Maui is where I live, work and play.
My team and I specialize in resort market home and condominium sales striving to deliver the highest level of professional service possible. With $50M+ sold, a panache for extensive statistical research and 100+ published real estate articles since 2015. I’m relevant, information driven and responsive. I bring a passionate energy, an entrepreneurial understanding and a client-first approach to my real estate business.
Prior to becoming a Realtor, I was an independent publisher, starting and operating Maui, Kauai and Hawaii Real Estate Weeklies, Maui Time Weekly (partner), and in 2005, I was a Mayors Small Business Award finalist. In 2009, after seeing the demand and living in an under serviced pet market, alongside my Mom, Susan we opened West Maui Pet Supply. I started my career after college as an account executive with Orlando Weekly ultimately becoming their Advertising Director. Then I moved on to Advertising Sales Manager at Orange County Weekly, in Southern California.
I am native of Detroit, Michigan, but grew up in Florida splitting time between Miami, Orlando and Cocoa Beach, Fl. I was a scholarship soccer player at the University of Central Florida and graduated with a BA from their School of Communication. Always attracted to healthy lifestyle, adventure, great weather, water sports and the outdoors, I moved to Maui in the summer of 2002.
When the Realtor hat comes off, I’m active in the community coaching U-14 Boys Soccer (AYSO – West Side Pride) and I still play in the West Maui open division. I’m involved along with other fellow Hawaii Life comrades volunteering regularly at the Ka Hale A Ke Ola Shelter in West Maui and I’m on the Board of the Hawaii Life Charitable Fund. Through the outlet of the WM Pet Supply, I was heavily involved with the Maui Humane Society & ASCPA getting animals adopted & spayed/neutered. When I have free time you’ll find me surfing, golfing, at the gym, a regular at yoga class, hanging at home with my animals or working in the backyard on my organic micro-farm (aka: food garden). You can email me at JeffOnderko@HawaiiLife.com or via phone at (808) 280-4881.
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