Real Estate Industry News

Montage Residences Kapalua Bay, a five-star resort in West Maui in Hawaii, recently released a limited collection of three-bedroom residences. As Montage is the only five-star resort with an ownership opportunity on West Maui, this will be a rare opportunity to own a residence at one of Maui’s top-rated resorts. (See “Why You Should Live At This Luxury Maui Resort”).

Montage Residences Kapalua Bay was launched in 2014 with 84 oceanfront luxury residences. It has grown to be one of the most desirable communities in which to live in all of Maui and arguably all of Hawaii. Montage is one of the country’s most highly regarded and fastest-growing luxury hotel brands that offers an incredible array of amenities to its homeowners.

Setting Records

The 24-acre resort sets the standard for condominium sales on Maui as one of the highest-selling on the island. Since early May, Montage Residences Kapalua Bay has achieved more than $40 million in sales. Contributing to this success is the sale of Residence 1405, a 3,239-square-foot residence which sold for $7,250,000 at $2,600-per-square-foot, shattering the record for highest price paid for a Grand Residence and highest price per square-foot for a three-bedroom residence at the resort.

In 2018, sales exceeded $60 million, representing nearly 40 percent of all luxury condominium sales on West Maui. Last year, Residence 1201, a four-bedroom, 4,055-square-foot oceanfront residence sold for $8,950,000 (trading at over $2,500-per-square-foot). The sale set a new record for the resort and for West Maui and was the second-highest priced condominium sale on all of Maui in 2018.

This new inventory, which is located in the center of the resort in buildings three and four, provides buyers with a rare opportunity to select from 15 residences which range in price from $2,700,000 to $3,800,000. The new collection of residences offers an exceptional resort living experience, with design details that embrace Island-inspired living and relaxation.

In contrast, the Grand Residences are located around the core of the resort and are sold unfurnished. The new release of residences are three-bedroom homes, with approximately 2,000 square-foot interiors, while the Grand Residences are three- and four- bedroom residences ranging from just under 3,000 square feet to 4,000 square feet.

“In Maui (and Hawaii in general), it is incredibly rare to find homes of this quality, with such close proximity to the ocean, in a five-star resort, with an option to participate in a hotel operated rental management program,” says Tina Necrason, Senior Vice President, Residential for Montage International. “There are currently no other opportunities like this on Maui. Overall, the Montage-branded residential portfolio is valued at over $2 billion, and from a real estate perspective we continue to shatter records in each market we permeate.”

Fully-Furnished Residences

Located in the heart of Montage Kapalua Bay, each fully-furnished residence also includes an expansive and private lanai of up to 575 square feet that is perfect for entertaining. Garden Level Residences offer direct access to the lawns, pools, and the rest of the resort from their private lanais. Exceptional views of Maui’s world-famous sunsets can be seen from most residences.

These luxury homes offer an elegant and contemporary design with spacious bedrooms, and luxurious bathrooms. Well-appointed chef’s kitchens are equipped with a Sub-Zero refrigerator and wine cooler, Wolf oven and cooktop, GE Monogram microwave, dishwasher and an in-unit washer/dryer.

The residences are being offered as move-in ready and fully furnished with luxurious appointments from furniture, Montage bathrobes and linens to china in the cabinets and silverware in the kitchen drawer. Residences also come with indoor parking spaces and a storage locker that is perfect for bicycles, golf clubs, beach gear and other items.

A Forbes Five-Star Resort

Residents are given full access to the superb amenities and services offered by Montage Kapalua Bay, a Forbes Five-Star Resort. Residents enjoy immediate proximity to the all of the resort amenities and a living experience with everything that offers, from owner valet parking, room service and daily housekeeping. In addition, owners have access to a dedicated staff who can create personalized experiences from special occasions, travel and outdoor activities to maintenance and property management when they are not present.

Owners also enjoy an array of benefits and additional services at all Montage destinations, from the Montage Beverly Hills, Montage Deer Valley, Montage Laguna Beach, The Inn at Palmetto Bluff, and Montage Los Cabos, Mexico. Owners also enjoy the same benefits and privileges at all Pendry locations, including San Diego, Baltimore, and West Hollywood (Opening Summer 2019).

Montage Kapalua Bay offers five stunning white sand beaches, a plethora of water sports, two marine sanctuaries and miles of hiking and biking trails. As the area is protected by an offshore coral reef, Kapalua Bay is home to an incredible array of fish and other sea life and is one of the Island’s most prized swimming and snorkeling spots. The resort’s three-tiered lagoon-style swimming pool is 8,500 square feet in size. In addition, the Kapalua Beach Club Pool offers a private pool that is reserved for homeowners.

There are also plenty of fitness and sports facilities to keep residents busy, including a tennis complex and two legendary championship golf courses.

The 30,000 square foot full-service Spa Montage Kapalua Bay offers a full menu of spa treatments, therapies, beauty treatments and wellness offerings. The spa offers private outdoor treatment rooms and indoor plantation-style spa suites. There’s also a state-of-the-art fitness center that offers yoga, Kinesis, mat Pilates and spinning classes, as well as personal trainer services.

The property offers several restaurants and bars, including a signature fine dining restaurant, poolside casual dining and a private waterfront event venue. Homeowners enjoy a private club complete with casual dining.

While the resort offers a meeting space, business center, laundry and dry-cleaning services, there are even services for pets, including grooming, walking and sitting. Montage will even arrange for the purchase and delivery of grocery items if you want your kitchen stocked before you arrive or during your visit to the property. The hotel will even provide a staff member who will pack or unpack your bags, if you desire.

Owners have the option of participating in the Montage rental program. As Montage Kapalua Bay is the top-rated hotel on Maui, the resort commands some of the highest nightly room rates on the in the state of Hawaii.

“Montage’s differentiating factors begin with the incredible culture and execution of unscripted, welcoming and gracious service,” adds Necrason. “Given the scalability of an intimate residential portfolio, the dedicated staff is extremely engaged with every aspect of ownership from concierge requests to property management, allowing for a high level of personalization. This ensures the most enjoyable and memorable time spent at home.”

The Climate

Unlike other second home locations, Maui is a four-season destination with an average of 276 sunny days each year, which is more than the islands of Hawaii, Oahu and Kauai. The average temperature during the hottest months of the year—-August and September—-is 86 degrees Fahrenheit (with a low of 71 degrees). During the coldest months, which are January and February, the average high temperature is 79 degrees Fahrenheit while the average low is 65 degrees. Kapalua Bay, where the Montage is located, is a region of the island where it is dry and sunny virtually all the time. And, unlike the Caribbean and Mexico, there are no mosquitos and the inherent risk of contracting the ZIKA virus is non-existent.

Getting There

It is easy to travel to western Maui. Transportation to and from the Kapalua Airport, which is only ten minutes away, can be arranged through the hotel’s concierge team. Mokulele Airlines offers direct service into the airport from Honolulu several times a day, as well as to and from other Hawaiian Islands. Hawaiian Airlines has launched new service to Kapalua Airport from both Honolulu and Kahului, while Southwest Airlines launched several new Hawaii flight routes, including to Maui, in March of this year.