Editor’s note: The following is from the Realtor’s Association of Maui Government Affairs Blog and is being re-posted here for the benefit of our readers. This is provided for informational purposes and does not represent the views of MauiHomeandCondo.com’s author.

STATE LEGISLATIVE RBO UPDATE: The main Rent By Owner (RBO) bill – now House Bill 2078 SD 2 — morphed again and the most controversial element – requiring non-resident owners to hire licensed property managers – has been removed, thanks to the work of Maui Senator Rosalyn Baker. The bill now focuses on reinforcing existing law: TAT payment compliance and assuring that owners actually hire an on-island representative who can help their guests when there is a problem or in case of emergency. (more…)

Wailea Fairway Villas Sees Values Increasing

One of the more popular condominiums for potential buyers looking for a second residence or a place to call home in Wailea has become Wailea Fairway Villas. With a prime location bordering Wailea’s Old Blue Course, well-manicured grounds, and enjoying magnificent ocean views, it is easy to see why. As Maui has an extremely segmented real estate market, let’s take a look at how Wailea Fairway Villas has been faring during the economic recession. (more…)

Maui Luxury Resort

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.

Foreclosure in Kanani Wailea

Wailea is one of the world’s foremost master-planned communities and for many potential buyers, it represents the perfect location for their dream property. Wailea/Makena has not seen many REO’s (foreclosure/bank-owned) properties come on the market, but when they do the interest level is high and those listings are sold fairly quickly. As such, it’d be worth noting that there is a newly listed REO at Kanani Wailea. Priced at $749,900, this 3 bedroom / 2.5 bathroom luxury unit offers 1,984 square feet of living interior, features ocean views, top-of-the-line appliances and upgrades. Compare this to the only other active listing, at $899,000, and its value becomes more apparent.

Kanani Wailea residents enjoy exclusive use of its infinity pool, jacuzzi, fitness center, and privacy of being in a gated community. A short drive away (5 minutes or less), owners can enjoy world-class beaches, five star restaurants and hotels, top rated golf courses, and an array of activities.  This property is the epitome of the perfect mix of single-family residence privacy with the conveniences of condominium ownership. Should you have any questions about this specific listing or any other condo in Wailea, contact me at Alex@MauiRealEstateSearch.com or call 808.385.5034 any time.

Values in Wailea Real Estate

Wailea is considered to be the epitome of master-planned communities, featuring phenomenal beachfront estates, luxury condos, world-class beaches, top-rated golf courses, five star restaurants, spas, and exclusive shops. It is not surprising that demand from potential buyers remains high, which typically pushes real estate values upward. And it was not too long ago when a Wailea address came with a 7 figure price tag, yet there are some phenomenal opportunities for luxury living at Kihei prices.

As of today, there are 5 Wailea condos for sale under $500K, including an unbelievably priced short sale at Grand Champions, setting the low mark for Wailea real estate at $329K. In the past year, there were 105 sales,with an average of $1.538M and median of $829K. And with sales activity in this sector of the Maui market remaining strong, it is within the realm of reason to expect 2011 sales statistics to be comparable to the last year. The entry-level point of Wailea real estate remains at Grand Champions, Wailea Ekahi, and Wailea Fairway Villas.

Should you wish further information regarding Wailea real estate, contact me at alex@mauirealestatesearch.com or call 808.385.5034 during business hours.