Just when you think the rush has to stop, we get a couple of weeks like these. A $19.2 million sale in Makena, an $8.5 million sale in Makena, a $13,94 million sale in Kapalua and an $8.9 million sale in Lahaina. The average sale price per square foot for 2006 oceanfront sales was $1561, a Maui record and a dramatic 49% increase over 2005. These four sales? How about an average per square foot sale price in excess of $2500!!!!!!!! Now to be fair, these are all spectacular properties and on average probably better than the properties sold in 2006. But 62% better? We don’t think so.

New listings and their pricing reflects this new reality as well. 49 Hale Malia Place in Napili, 4300 square feet, four bedrooms and recently constructed is asking $10.9 million. This lovely home sits on a lava outcropping above a sandy beach. See the pictures below. 4484 Old Makena Road will be a palatial 7200 square foot home on over 130 feet of white sandy beach. That home will be finished in 2008 ands is asking $20 million. Both of those prices are over $2500 per square foot.

For more information, contact us.