Closed Sales
There was one sale in the $4 million-plus range this week - barely.
4281 Wailina Place, Wailea Golf Estates - 3 bedroom | 3.5 bathroom | 3,817 sq.ft. | approx. 1/3 acre (technically a condominium)
The listing information shows it was on the market just 94 days this time around. But the real story goes back further - it was originally listed in May 2024 for $6.7 million. After five price reductions, the seller took it off the market. Three months later, the same agent relisted it at $4.6 million, and it finally closed for $4 million even.
Pending Sales
There were no new pending sales this week in the luxury category.
Price Reductions
After six price reductions last week, there were no price changes this week in the $4 million-plus segment.
Cancelled and Expired Listings
There were no cancelled or expired listings in the luxury space this week.
New Listings
Two new luxury listings hit the market this week.
3036 Kalua Koi Road, Molokai - 2 bedroom | 2.5 bathroom main house | 3,794 sq.ft with a 2 bedroom | 2 bath | 960 sq.ft ohana on 6 acres. The new asking price is $4,780,000 down from $5.3 million. This was relisted by the same agent from last year.
257 Hokiokio Place, Puunoa (Lahaina) - 5 bedroom | 4.5 bathroom | 3,556 sq.ft. on CPR'd 3.2 acre lot. Brand new construction. It was previously listed while under construction for $6.8 million. Now complete, the seller has hired a new agent and listed the finished home for $5.2 million - $1.6 million less than before. Amazing.
Summary
Overall, it was a quiet week for Maui's luxury home market. A few properties have been pending for a while, so we may see some new closings soon.
On a brighter note, I've noticed the Canadian snowbirds starting to arrive - always a welcome sight this time of year. Hopefully, their mainland counterparts aren't far behind. There have to be some buyers in there somewhere.
