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…)
As Maui’s high season is halfway and anecdotal evidence points to increased interest by potential buyers in what has turned out to be a much smaller real estate inventory, it is imperative that buyers are aware of full market conditions particularly as they reflect on micro-markets.
With that said, let’s explore one of the properties that we specialize on: Hoolei Condos For Sale. Let’s take a look at the chart below for a better perspective: (more…)
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 detailed in our a previous post, Keawakapu Beach has a well-earned reputation among the nicest beaches in the world – providing the ideal setting for romantic walks, adventurous days in the ocean, whale watching, and, well, living life with Aloha. As a recent client is enamored with this beach (it is also by far my favorite beach in Hawaii), she is curious about the possibilities for real estate ownership in the area. First, start by taking a look at this Wailea Map to gain a better perspective of where properties are located in relation to the ocean and to one another.
Keawakapu Beach begins in South Kihei, making a seamless transition into Wailea. So starting in the north end of the beach, I would be remiss if I didn’t include Kihei Surfside even though not directly on Keawakapu,. This oceanfront property overlooks an incredibly manicured lawn and has a feeling of a tight-knit community. For sunsets, visitors and residents congregate around the picnic tables, reminiscent of a family gathering. Next door to Kihei Surfside is the popular Mana Kai. Some of the selling points of Mana Kai include being directly beachfront on Keawakapu, having the top-rated Five Palms Restaurant and Zach’s convenience store/deli on site, and boasting floor plans that are centered around one of the most magnificent views in the Pacific. All units are 2 bedroom / 2 bathroom (767 square feet), but offer a lock-off feature which allows owners to rent out the unit as a 2 bedroom condo, a 1 bedroom condo, or a 1 bedroom hotel room.
South of Mana Kai is Hale Hui Kai, a boutique-like property of 40 units. All units are 2 bedrooms, ranging from 898 to 1,028 square feet of interior space and have varying corridor of views – units 111-411, 112-412, and 113-413 commanding a premium due to their location at the waterfront position of the complex. Turn over is low and when units come on the market, they are absorbed rather quickly due to the high demand. Going south from Hale Hui Kai are an array of beachfront homes reflecting some of the best Hawaii luxury homes available, with properties inevitably commanding an 8 figure price. As of the date of this writing, there are no homes actively for sale on Keawakapu Beach (Island Sotheby’s participated in the last two sales, each of which were in the $14M range). And at the southern tip of Keawakapu Beach is the ever-popular Wailea Ekahi Village. One of the original properties built in the master-planned resort community of Wailea, this property encompasses 295 units across 56 building set on almost 34 acres, creating a relatively low density when compared to some of the complexes further north. Buildings 7, 8, 9, 21, 22, and 23 enjoy a premium due to their location closest to the beachfront pavilion and pool.
For any visitor to Maui, Keawakapu beach is a must-see, with its postcard-perfect sandy white beach, plethora of activities available, yet laid-back pace. It is no wonder that residents alike flock to Keawakapu for sunsets, days off in the sun, and living the Aloha life.
The video above was taken while having a fun-filled day at the beach, please pardon the low quality camerawork (I had to chase my son in between recordings).
As a conclusion to our informative series of Guide to Wailea Condos (check out Part I and Part II), we conclude by detailing the remaining Wailea properties that allow short-term rentals.
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Wailea Beach Villas
Completed in 2006 with much anticipation and clamor, Wailea Beach Villas has set the highest of standard of Hawaii luxury condos – along the way setting records, including the highest price ever paid for a Maui condo, at $12.5M last year. Ten beachfront acres of what is considered one of the most desirable locations in the world, 99 units offer owners and guests an enviable array of amenities: Concierge services, infinity pool with spa, business center, fully-equipped fitness center, valet parking, entertainment areas, gated entry and much more. A few steps away, The Shops at Wailea awaits with high-end stores (i.e. Gucci, LV, Tiffany’s), top-rated restaurants (Ruth’s Chris, Longhi’s, Kai Wailea), art-galleries, scheduled entertainment and events. Units range in size from 2 bedroom / 2 bathroom (1,899-1,978 sq. ft.), 3 bedroom / 3 bathroom (1,961-2,893 sq. ft.) to spacious 3 bedroom / 3.5 bathroom (2,863-2,934 sq. ft.), with those located in buildings A and B commanding a premium due to their unobstructed ocean views and beachfront access. The five sales in the preceding year ranged from $2.65M to $5M, but check for current Wailea Beach Villas for saleand be taken aback by some of the most luxurious condominiums in the world.
The first condominium built in Wailea’s resort community, Wailea Ekahi is a perennial favorite among visitors, which reflects on comparatively good occupancy rates. Nestled among thirty three and a half acres on the northern edge of Wailea, two hundred and ninety six units offer the entry point into beachfront ownership in Wailea. Units range from studios (484 sq. ft.), 1 bedroom / 1 bathroom (792-977 sq. ft.), popular 1 bedroom / 2 bathroom (885-1,090 sq. ft.), 2 bedroom / 2 bathroom (1,172-1,298 sq. ft.), and 2 bedroom / 2.5 bathroom (1,133-1,575 sq. ft.) and are spread among 54 buildings, for a relatively low density and added privacy. Buildings closest to the beachfront pool and access – including buildings 7, 8, 18-22) are typically priced highest due to their enviable location. Ten sales in the past year ranged from an entry-level unit at $300K to an impressive luxury unit at $1.75M. View current Wailea Ekahi condos and contact us with any questions.
Bordering the Wailea Blue Course, Wailea Ekolu Village combines phenomenal ocean views with the tranquil setting of meticulously maintained golf course. Built in 1979, it encompasses 148 units amongst 17 buildings. Amenities include two pools, barbecue areas, and a shared pavilion (ideal for family/friend gatherings). It is zoned as apartment and has a high owner occupancy (approx. 50%), making it easier to obtain financing. Ranging in size from 1 bedroom / 2 bathroom ( 866 square feet) to 2 bedroom / 2 bathroom (1,071-1,289 square feet). Sales in the past 12 months ranged from $410K to $800K, making these units among the best value per square foot in Wailea’s luxury market. Take a look at active Wailea Ekolu condos for sale and compare to nearby offerings at Wailea Fairway Villas (which do NOT allow vacation rentals) for a good perspective of values in the area.
As a perpetual choice among long-time Maui visitors, Wailea Elua Village boasts a loyal legion of repeat visitors and a strong sense of community among owners. Set atop 24 acres, this property consists of 152 units built in 1980, with units ranging from 1 bedroom / 1 bathroom (891 sq. ft.), to 1 bedroom / 2 bathroom (940-1,031 sq. ft.), to 2 bedroom / 2 bathroom (1,254-1,536 sq. ft.), to immense 3 bedroom / 2 bathroom (1,509-1,749 sq. ft.). Due to the orientation of the property, most units enjoy ocean views, with those on the front row (units in the 1000′s, 1300′s, 1700′s, and 1900′s) partaking of some of the most beautiful views in the Pacific. Exclusive amenities include two pools strategically located throughout the property, oceanfront pavilion, paddle tennis court, putting green, gated entry and access to the Wailea beach path. The two sales in the past year were for $1.599M and $2.6M. Review Wailea Elua Village units for sale and see why so many choose WEV year after year as their vacation destination.
Until Wailea Beach Villas came on the market, Wailea Point held the steadfast position as THE premiere beachfront condominium in Wailea (and by extension, Maui as a whole). And while credit must be given to WBV for raising the bar in the luxury market, Wailea Point continues to deliver an excellent value in beachfront Hawaii living. Twenty-six acres provide an absolutely incredible, postcard-perfect, oceanfront setting for one hundred twenty nine condos, ranging from 2 bedroom / 2 bathroom (1,553-3,172 sq. ft.), to 2 bedroom / 3 bathroom (1,743-2,394 sq. ft.), to 3 bedroom / 2 bathroom (1,359-2,554 sq. ft.), to 3 bedroom / 3 bathroom (1,732-2,529 sq. ft.), to 3 bedroom / 3.5 bathroom (2,394-3,666 sq. ft.), to two incredible 6 bedroom / 6 bathroom units (4,813-4,848 sq. ft.). Common elements include two pools with cabana-style pavilions, tennis courts, barbecue areas, concierge services, and a fitness center. Nine sales in the past year ranged from $1.59M to $8M, indicating that a few of the current Wailea Point condos for sale are actually fairly good values. NOTE: Wailea Point allows owners to short-term their unit, but there is a restriction: ONE rental per month (it could be for a full month, it could be for a day). The purpose of this is to decrease the number of visitors/transients, thereby resulting in a quieter, more laid back setting.
As this concludes our series of (hopefully) informative posts regarding the different options of Wailea condo ownership, we welcome any feedback and/or questions. And contact us when you are ready to sell or buy your Wailea dream property.
