Being diligent and watchful of the Wailea real estate market, when particularly good values come on the market we inform clients so they can make a timely decision if they are interested in pursuing. Today, we will share with our readers some opportunities that have recently become available (more…)
As a long time visitor to Maui, Steven Tyler had been looking at beachfront homes for quite some time. And as released by the Wall Street Journal, the American Idol judge purchase a home on the prestigious Makena district in South Maui. Makena is also rumored to be home (or in this case, second-home) to a myriad of celebrities, including Oprah, Jennifer Aniston, and Clint Eastwood.
Steven’s new home is an oceanfront 2 bedroom / 3.5 bathroom Makena property on 1/4 acre. (more…)
Many potential buyers see tremendous value/potential in purchasing in Wailea, as it is an exclusive area which some experts argue could be among the first places in Hawaii to see long-term appreciation when the market stabilizes. As such, a new price adjustment of a Wailea Pualani Home is worthy of mentioning. It is a REO (foreclosure/bank-owned) 4 bedroom / 3 bathroom home featuring over 2,900 square feet of interior living space on a large, quarter-acre lot. It has been on the market for 99 days – as of the day of this post – and has been reduced dramatically from its initial offering price of $1.4M to its current list price of $875K. In Wailea, there have only been 4 REO single-family residences sold, from $740K, to $810K, to $1.265M, to $1.412M (the high mark having been set earlier this week).
This week, a new listing came on the market that presents a phenomenal opportunity for those searching the Maui luxury real estate market. Honua Kai’s Hokulani 736 is a 2 bedroom / 2 bathroom unit offering over 1,200 square feet of interior living space, high-end finishes, Bosch appliances, one of the best locations within the complex, and is being sold fully furnished. Offered at $1M, is it a good value? Take a look at current Honua Kai condos for sale, where the average asking price for a 2 bedroom unit is $1.4M, median $1.5M. But the best indicator of values are sold comparables: since its inception in 2009, Honua Kai 2 bedroom units have been selling for an average of $1.35M and a median of $1.44M.
Honua Kai has been redefining Maui luxury resort living, by combining the amenities and services of a 5 star hotel with the convenience of beachfront condo ownership. On-site features include Duke’s restaurant, a fitness center, an enviable aquatic playground, and (for many, most importantly), a beachfront location on one of the most beautiful beaches in the world. Should you want more information regarding this listing, feel free to contact me at alex@mauirealestatesearch.com or 808.385.5034 any time.
There has been a series of significant sales in the Maui real estate market in the past month, with multiple sales in the 8 figures taking place. But as the luxury sector continues to heat up, there are many opportunities for those seeking ‘values’ in luxury estates.
Halama Street has a well-deserved reputation as being the premier location for oceanfront homes in Kihei, with many of these luxury estates worth over $5M. Now a REO (foreclosure) has come on the market, priced at $2.6M. This 3 bedroom / 3.5 bathroom Kihei beachfront home boasts over 3,000 square feet of living space on over 1/3 of an acre. Paddle-board, kayak, or fish directly off your property for the ultimate Hawaii lifestyle.
Polo Beach Club is one what is arguably one of the best beaches in the world, Polo Beach. With condos typically selling in the $2M range (average for the past year was $1.975M), this ground floor unit priced at $1.66M offers a tremendous value. Originally priced at $2.5M, the current pricing is reflective of a seller who is MOTIVATED.
Beachfront homes on Lahaina’s Front Street are few. As such, those properties are seldom for sale. This 3 bedroom / 2 bathroom beachfront home in Hale Leilani is priced to bring in offers, at $2.575M. From this luxury home, take a stroll through Front Street, enjoy some of the finest culinary masterpieces in Hawaii, and view some of the Pacific’s best art galleries.
Our real estate market is very dynamic, feel free to contact me at Alex@MauiRealEstateSearch.com to further discuss market conditions and/or your real estate needs.
The views and opinions in this website are exclusively those of Alex Cortez and are for entertainment purposes only