If you've been spending your time outside like I have this summer, I gotta say Lahaina town has been quite spectacular. The days have been longer, the weather warmer, the streets more crowded, the surf bigger, even the monk seals have occasionally paid us a visit sunbathing in between the Harbor and Shark Pit area. In addition to these many gems that grace Lahaina's shoreline, one other is undoubtedly Puamana. With its lush 30 acres of oceanfront living, 3 pools, tennis, sandy beach plus more...
Hard to beat Puamana's oceanfront beach, surf, and sunsets
Wait a second (as the record sound scratches to a halt)!...enough of the real estate fluffy fluff fluff. I'd rather rundown the sales numbers faster than Love Connection's Chuck Woolery in his 2 minute / 2 second commercial breaks. Short and sweet, but specific. So here we go:
2015 Puamana Real Estate Sales Snapshot
- Last year, 2014 had the most transactions at the mid-point of the year, since 2002 (10). 2015 so far has 7.
- Where last year's sales volume (and deals) came from 2 bedroom units, with 5 of the 10 sold prior to July 1st...2015 is a bit more balanced (kind of) with (3) 1 bedroom units selling, (1) 2 bedroom, and 3 (3) bedroom units all sold in the first 6 months.
- 1 bedrooms are enjoying more volume this year than any year since 2006. And for non oceanfront units, a $637K average sales price is its highest since 2008.
- View complete Puamana sales stats (20 year statistics).
Comparative Market Summary Report 2015 Puamana Home Sales
Comparative Market Summary Report 2015 Puamana Active Home For Sale
2 Bedrooms Go Big
- 2015 is seeing a big price increase in 2-bedrooms. Last year's non oceanfront average 2 bedroom sales price was $629K. As of today's active 2 bedroom listings, the average list price for non oceanfront is $925K...If I omit the 2 with ocean views, that's a $832K average price (47% and 32% increase respectively).
- With only 1 sale thus far in 2015, 2 bedrooms are tied for their lowest sales volume in the past 15 years. Possible reason? High inventory and higher list prices. Fact: 6 of 8 the units currently listed for sale are 2 bedrooms, and the lowest is listed for $795K.
Private accessibility to year-round ocean activities: surf, paddle, kayak, kite, canoe, swim, float
Deal of the Year...So Far?
In my opinion, Unit 17-2 was no doubt the buy of the year so far. Purchased for $850K, this is a 3 bed/2.5 bath 1,768 sq. ft. end unit, with its own carport at the north/quiet end of the neighborhood. The price per square foot was $481...one of the lowest in the past 15 years.
30 acres of private beachfront community: located at the southern end of Lahaina on Front Street
Only 1 oceanfront has sold in 2015. It was a 3 bedroom that closed for $2,025,000. Traditionally, oceanfront units have remained strong at Puamana averaging $1,423/sq. ft. since 2010. Last year saw 3 oceanfront units sell, averaging $1,911/sq. foot.
Going by gut (and knowledge) and discounting any "super uber luxurious properties," I'd bet this is one of the best per/sq. ft. averages in all of West Maui. And by best I mean highest. It just so happens I will use this topic for my next article coming soon, "Puamana Oceanfront Versus All the Others."
If there is anything else you want to know about Puamana real estate, please reply to this article or email me direct. Thanks for reading!
Aloha - JTO