2022 Sales Summary - Whaler Whole Units
Wholly-Owned CondominiumsThe Whaler on Kaanapali Beach
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5-YEAR TRENDS
Reviewing key indicators for the last 5 years, The Whaler has performed well. Low inventory continues to be a major challenge. 2021 was a banner year in a lot of ways. Weaker numbers in 2022 signal a slowing of the market as interest rates rise. A looming threat of a recession is also a factor. Tourism remains strong as the post-pandemic visitor surge continues.
Key Statistics
2022
- A record sale is reported at The Whaler of $3,970,000 for Whaler 852. Monte represents the buyer.
- Only 6 properties sold in 2022 - a drop of 75% versus 2021
- However the total sales volume was double that of 2020 and still 75% of 2021. Fewer properties sold for more money.
- With average days on the market at 85 days, the six transactions closed in record time.
- Huge rebound. Sales are almost 4 times higher than in 2020.
- Total sales figures reached an unprecedented high of nearly 30 million dollars in 2021. However, the average sales price was still within the normal range.
- With the onset of the pandemic, 2020 saw the largest dip in sales figures in the last 5 years
- Only 7 properties sold in 2020 for $7.4 million in total sales - 2.5x lower than 2019
- The number of sales and total sales volume for these two years are virtually the same as are the days on market. The same number of properties sold for the same average price and in the same amount of time both of these years. This somewhat establishes a baseline from which to compare the swings in the market we have seen over the past 5 years.
Monte Fitts Sets Sales Record in 2022
Monte Fitts represented the buyer of Whaler 852 which sold for $3,970,000. This property is an oceanfront, 2 bedroom, 2 bath unit in Tower 2 facing Black Rock.Whaler Condominiums for Sale - January 2023
As of January 7, 2023, there are only THREE condominiums for sale at The Whaler. 2 of the 3 properties have been listed in the last 60 days. Inventory continues to be a challenge. The Whaler is as popular as ever.
Across the island, Condominium and Single Family home prices have reached an ALL TIME HIGH Learn more>>
25% of the buyers are out-of-state residents and Canadian citizens. Also a new benchmark. Learn more >>
Worth noting, home sales to Hawaii residents increased on Maui and Kauai in recent years, economists say. A decade ago in 2012, home sales were dominated by out-of-state buyers, whose purchases counted for more than half the sales on Maui and Kauai. Now, Hawaii residents comprise about 60% of homes purchased in Maui and Kauai counties. (Source: Maui Now)