Whaler Market Update – Recent Renovations Attract New Buyers

The highly sought after Kaanapali Beach area has always been a top destination area here on Maui. I want to update you on the Whaler complex that has had a top-to-bottom makeover.

The Whaler has two towers of 12 floors each with a total number of 360 units ranging from studio units to 2 bedrooms. Most units have an ocean view, with some better than others. Many also have outstanding West Maui mountain views. Some of the North facing units in the North tower can have nice views of the famous Kaanapali Black Rock. The corner units are provided with extra large wrap-around lanais.

View showing the corner units with wrap-around lanais

This complex was built in 1976 on one of the most pristine beaches in the Kaanapali area, which is not only known for its beaches, but also the golf courses, shopping, luxury hotels, condominiums, and homes. With this complex right next door to the Whalers Village, you are walking distance to just about everything from shopping, restaurants, and the best beaches on Maui.

Active Whaler Condos

At the Whaler, there are only 16 units active at this time with prices ranging from $440,000 to $2,950,000. This price range is indicative of the size of the unit, the location within the complex, and condition of the unit. See all active Whaler units.

Floorplans

The units at the Whaler are very spacious:

  • Studio units are just over 500 sq.ft.
  • One bedroom units are just below 1,000 sq.ft. – The one bedrooms have a couple of different floor plans, one with one bathroom and another with two bathrooms
  • Two bedroom units are at 1,400 sq.ft. and up

Whaler Market Activity

Over the last two years at the Whaler, the number of units that have sold has increased dramatically; in the past year to date double the number of units were sold, compared to the prior 12 months:

  • 16 sales in past 12 months (June 2012 – June 2013) ranged $359,000-1,950,000
  • 8 sales prior 12 months (June 2011 – June 2012) ranged $400,000-1,150,000

In the past some people may have avoided the Whaler due to the four year renovation project that seemed to put some buyers off, but the ones who stuck around during the work period were able to pick up units at extremely low prices.

As the renovation has been completed all of a sudden awareness is grabbing hold and buyers are looking at the Whaler again. What does this mean? Usually, what happens is inventory may diminish from its already low level – with only 16 active units – and then the prices will rise.

The last 6 months there were 10 sales. Here is a sampling of 3 recent sales:

Overview

Again to recap, in the last 12 months 16 units were sold, 10 of those have been in the last 6 months. The previous 12 months only 8 units sold and currently there are only 16 active.

Please be sure to reach out to me for any Whaler market data and I will be providing more information on the Whaler complex as well as the market changes.