The first half of 2020 has been dramatically impacted by the COVID virus, with activity slowing considerably once the island was "shut down" with no travel, open houses, or non-essential activities. Up until that time, the market was humming right along with demand exceeding supply and prices continuing to inch upward.
Prices seem to still be holding up, but without rental income we're hoping our fellow owners can hold out. Since all rentals ceased in mid-March and showings are virtual only, there have been fewer sales and new listings. There is still buyer interest, but many are "on hold" until quarantine requirements are past or at least until buyers can visit the island again as guests.
Here's the breakdown for units sold in the 1st half of 2020:
The outcome for 2020 remains uncertain. The governor's date for mainland visitors to arrive without a quarantine requirement is elusive as COVID cases are spiking on Oahu and the US mainland.
Currently, we have our office on the ground floor near the gym, however, we've had to temporarily close since the COVID crisis. The office will open as soon as you and our visitors are welcome back to Maui.
During the 1st half of 2020, there were 10 sales. There was 1 property in escrow at the end of the six months. There was 1 expired listing that later came back on the market and sold. There were 2 cancelled listings, one of which is now back on the market.
For further information on properties at Kaanapali Shores or anywhere on Maui, contact any of the Kaanapali Shores Team at email@example.com.