January 2018 was another busy month for sales at Montage Residences on Kapalua Bay. 5 developer unit were put into contract within the last 30 days alone. Now only 9 developer sales remain in the development. These units are ideal for the buyers that insist on a luxury product that is new and never been lived in. Only one (1) of the large, 4 bedroom 4.5 bathroom 4,055 SF, floor plans remain from the developer. The remainder of the developer sales are 3 bedroom 3.5 bathroom floor plans under 3,000 SF. A handful of re-sales are also coming available within the development. Below is a breakdown of the full ownership real estate available at Montage Residences Kapalua Bay.
Montage Kapalua Available Units as of 02/09/2018
- 1 – 4BR / 4.5BA New Developer Sale
- 8 – 3BR / 3.5BA New Developer Sale
- 4 – 3BR / 3.5BA Re-Sale Units
- *Contact me for the full price list and availability
History of Sales Activity at Montage Kapalua
In 2009, the Kapalua Residences were originally offered for sale in the form of the Ritz-Carlton Club and full ownership Residences. There were 84 full ownership luxury residences and 62 time share units. At the time of the release in 2009, 13 were purchased by private parties and 15 were purchased by Exclusive Resorts, leaving 56 remaining unsold.
Unfortunately, the economic downturn snowballed into a foreclosure by a lender based Joint Venture in early 2013 leaving the remaining residences unsold.
A new ownership group took over with a fresh perspective and appointed Montage Hotels & Resorts as the management group for The Residences at Kapalua Bay. At that time, they elected to discontinue fractional sales, and convert the unsold fractional inventory to approximately 50 hotel suites to be operated by Montage Hotels & Resorts and sales of the remaining unsold full ownership residences continued.
With the strong beginning to the year, it appears that 2018 will see the developer complete their sales of new condos in Kapalua. Lets take a look at the volume of sales per year since the project completed construction.
Number of Private Sales by year at Montage Residences Kapalua Bay
- 2017 – 12 Units Sold
- 2016 – 9 Units Sold
- 2015 – 9 Units Sold
- 2014 – 8 Units Sold
- 2013 – 0 Units Sold
- 2012 – 0 Units Sold
- 2011 – 5 Units Sold
- 2010 – 4 Units Sold
- 2009 – 5 Units Sold
As is true with most of Maui’s Luxury Real Estate Market, these Kapalua Bay Residences continue to trend in a very positive direction. Click Here for more Information on The Montage Residences on Kapalua Bay.