Aloha, all,

This week inventory remained stable with 104 homes price at or above $4 million and 75 homes at $3 million plus.

The week got off to a very slow start as Maui crept back towards normal weather. Buyers are still taking their sweet time as we are seeing activity, but no decisiveness.

Let’s do the details.

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Luxury Homes

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Closed

None reported this week.

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Pending

None reported this week.

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New Listings

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Wailea/Makena | The Ridge at Wailea

14 Halapa Pl 4 bd | 4.5 ba | 5,126 sf | ohana: no | 0.51 ac | ocean view List Price: $11,998,000

High-end architectural design in one of Wailea’s most exclusive enclaves. This is design-driven inventory targeting a very specific buyer.

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Upcountry | Kulamalu Hilltop

35 Ohia Lehua Pl 4 bd | 4 ba | 3,192 sf | ohana: no | 0.42 ac | mountain/ocean view List Price: $4,995,000

More lifestyle-driven luxury — privacy, outdoor living, and Upcountry appeal under $5M.

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Kaanapali | Coffee Farms

2600 Aina Mahiai St 5 bd | 4.5 ba | 3,555 sf | ohana: no | 5.18 ac | mountain/ocean view List Price: $5,945,000

Back on the market at a lower price. This is repositioned inventory rather than truly a new supply.

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Price Reductions (Homes)

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Kaanapali | Coffee Farms

2600 Aina Mahiai St 5 bd | 4.5 ba | 3,555 sf | ohana: no | 5.18 ac | mountain/ocean view List Price: $5,945,000

This is the 4th price reduction for this home. The price reductions have been comparatively small and seemed to designed to try and attract attention in a crowded market.

---Kapalua | Pineapple Hill

116 Pulelehua St 4 bd | 4.5 ba | 4,081 sf | ohana: no | 0.47 ac | ocean/golf view Current Price: $4,650,000 | Original: $5,395,000 | DOM: 243

This is the 3rd price reduction for this home. This time it was a $300,000 drop, perhaps signaling motivation.

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Cancelled / Expired (Homes)

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Haiku | N. Holokai Rd

65 N Holokai Rd 5 bd | 6 ba | 5,091 sf | ohana: no | 2.03 ac | ocean view Last Price: $4,200,000 | DOM: 205

This seller cancelled after an erratic pricing strategy that included price reductions followed by increases.

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Olowalu | Olowalu Mauka

533 Luawai St 4 bd | 5 ba | 4,417 sf | ohana: no | 5.84 ac | ocean view Last Price: $7,950,000 | DOM: 122

After a price reduction, the listing was withdrawn.

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Luxury Condos

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Closed

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Wailea | La’i Loa

Unit 101 (9A), 52 Kai Malu Dr 3 bd | 3 ba | 1,742 sf | lanai: 424 sf | ocean/golf view Sold Price: $3,850,000 | Cash | DOM: 74

Sold before list, new construction. Most of the inventory in this new development has been sold.

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Pending

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Kaanapali | The Whaler

Unit 1051, 2481 Kaanapali Pkwy 1 bd | 2 ba | 941 sf | lanai: 408 sf | direct oceanfront List Price: $3,150,000 | DOM: 44

Beachfront, and hotel-zoned, this is the highest price in this well known complex this year. Buyers are willing to pay for the high floor and great view.

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Price Reductions (Condos)

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Wailea | Wailea Elua

Unit 704, 3600 Wailea Alanui Dr 2 bd | 2 ba | 1,416 sf | top floor | ocean view Current Price: $3,250,000 | Original: $3,500,000 | DOM: 34

Early adjustment. The seller is staying ahead of the market rather than reacting after a long period.

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Cancelled / Expired (Condos)

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Wailea | Wailea Elua II

Unit 803, 3600 Wailea Alanui Dr 3 bd | 2 ba | 1,609 sf | ocean view | beachfront complex Last Price: $5,375,000 | DOM: 181

A rare 3-bedroom unit in a prime complex. It expired after 181 days on market with no price reductions.

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Our Take

This was another light week — and not too surprising.

We had that last stretch of storms into mid-week, and you could feel it. Everything just slowed down a bit.

There is some activity the market’s not totally stuck. Buyers are there, but they’re taking their time. When something lines up, they’ll move. They seem more analytical than usural.

On the seller side, we are seeing a mix. Some adjusting, some pulling back, some just holding.

The bigger picture here is we’re heading into the final stretch of the winter buying season.

So the question is pretty simple — do buyers step in over the next few weeks… or do they stay patient and wait for spring?

We’ll find out soon.