Kapalua among most-
affluent communities
The Maui coastal resort
By Star-Bulletin staff and wire
community places fifth in the
Robb Report's top 10Hello Kapalua, Maui. Sorry Beverly Hills, Calif. The coastal resort community of Kapalua in west Maui has been listed fifth in Robb Report's top 10 list of affluent communities.
It beat out California's Beverly Hills, Bel-Air, Pacific Palisades, Pebble Beach and Malibu -- none of which made the list.
Single-family home prices have been rising in Kapalua. The average home sold for $1.12 million last year, said Kapalua Realty principal broker Dean Otto. "We had a good year."
The development of Kapalua was initiated by the late Colin Cameron, former board chairman of Maui Land & Pineapple Company, Inc."He wasn't looking at creating an affluent community," said his son Richard H. Cameron, publisher of the Maui News. "He wanted to create a beautiful community with a low density of homes."
Aspen, Colo., was No. 1, largely because of its strong land values and home prices averaging $2 million.
Second place went to Palm Beach, Fla., followed by Greenwich, Conn.; Grosse Pointe Farms, Mich.; Kapalua; Boca Raton, Fla.; Hilton Head Island, S.C.; a Chicago neighborhood known as the Gold Coast; Newport, R.I.; and La Jolla in San Diego.
