As faithful readers of our blog, you’re already clued into many of the nuances for the ongoing Maui real estate boom that we’ve been experiencing thus far in 2021. Real estate sales big and small have truly been at the vanguard of Maui’s ongoing recovery, with record-setting prices being set across the market – indeed, the median sales price for a single-family home on Maui has now reached $1,117,500!
Certainly, increasing demand and a dwindling amount of inventory continue to drive prices upwards, setting the stage for our record-breaking year. But a few homes have truly stood out amongst the rest when it comes to displaying some eye-popping numbers.
One such home, located at 3090 South Kihei Road, was recently listed for sale at $38 million dollars – not too shabby, we’ll say! However, would you believe that this gorgeous beachfront dwelling isn’t even the most-expensive house on the block?!
That’s right – a separate property located just down the road was recently sold for $45 million dollars – a new record for Maui real estate! According to property records, the home sports eight bedrooms and eight full bathrooms, along with both a pool and jacuzzi.
Throughout Maui’s illustrious history, there have only been three total real estate transactions that eclipsed the $30 million dollar mark, according to data sourced from the REALTORS Association of Maui:
- 4445 Makena Alanui Road: sold for over $41 million in April of 2015;
- 9 Bay Drive: sold for $37.5 million in October of last year, Lahaina-side, and;
- The aforementioned property in South Kihei Road near beautiful Keawakapu on July 30th of this year, for a record-$45 million.
Furthermore, less than 10 total properties in all of Maui County – which comprises the islands of Maui, Moloka’i, Lana’i, and Kaho’olawe – have ever been sold for above $20 million dollars. Four of these properties are located along the same pristine beaches between Kihei and Wailea, cementing these neighborhoods as one of the very best places in all the world to set down roots, soak up the sun, and kick back in the sand.
Lucky for you, the GM Maui Team are the Valley Isle’s #1 team of real estate virtuosos. With over $1 billion in total sales, we know a thing or two about luxury real estate – and trust us, when the figures start to go this high, you need the backing of an experienced team to help make all your dreams come true.
So, whether you’re looking for a new condo (July median sales price: $618,000) that you can migrate to in the winter or a luxury mansion that will set a brand-new county record, you know what to do – give us a call, and let’s talk turkey to get you your slice of island paradise.