In continuation to the Ultimate Guide to Wailea Condos – Part 1, in this installment we will explore condominiums allowing vacation rentals in the master-planned community of Wailea. Be sure to check Part III as well.

Grand Champions

Enjoying two pools, jacuzzis, barbecue areas, and tennis/golf privileges (as available), owners and visitors of Grand Champions at Wailea know the value of being in Wailea at an affordable price point. Built in 1990, this property encompasses 188 units (fifty-four 1 bedroom / 2 bathroom, the remaining units being 2 bedroom / 2 bathroom) set on 12 acres bordering the Wailea Blue Golf Course and the Wailea Tennis Club, where players can enjoy a match or pro-level lessons. With a relatively high owner-occupancy in the 50%, financing becomes more feasible. Some units have breathtaking ocean views and pricing is considered the entry-level point into Wailea for vacation rentable properties. Keep in mind that previous sales (for the 12 months prior to publication) ranged from $334K to $765K, marking the entry point into Wailea condos. View all condos for sale at the Grand Champions for a better idea of what the current market has to offer.

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Hoolei

One of the most unique luxury properties in Hawaii, Hoolei has set the standard for Maui luxury living. Since its inception in 2008, Hoolei has been delighting even the most discerning buyers by offering superb-quality build, immense floor plans, high-end finishes, and the unparalleled pairing of turn-key condo ownership with the privacy of stand-alone single-family homes. Offered in 3 different floor plans, the Maile, Hibiscus, and Plumeria, all units are 3 bedroom / 3.5 bathrooms and differ in size from 2,426 square feet to a spacious 3,076. All units feature an elevator, private garage, storage area, breathtaking views, and exclusive use of the common areas: one of the most unique condo pools in Hawaii, a full-sized fitness center, concierge services, and shuttle services. Developer units offered pre-paid membership to the Grand Wailea’s Kuleana Club, with access to all pools, beach services, and spa grande. Units on the back row come at a premium due to their increase privacy and view planes. Peruse through all Hoolei condos for sale to see some of the most amazing properties in Maui. Sales in the past year have ranged from $2.075M to $3.125M, with 3rd row units being the most sought-after.

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Palms at Wailea

Ideally set on the border of Wailea and Kihei, Palms at Wailea (Palms I) allows short-term rentals whereas its sister property, Wailea Palms (Palms II) does not. Incredibly manicured and maintained, 17 acres provide the setting for 150 contemporary-designed units a short walk from Keawakapu Beach and The Shops at Wailea. Common elements include a barbecue area, a pool, jacuzzi, and a cabana-style clubhouse. Units are fairly spacious and vary in size from 1 bedroom / 2 bathroom (1,022 square feet), 2 bedroom / 2 bathroom (1,022-1,149 square feet), to one 3 bedroom / 3 bathroom unit (1,794 square feet) and offer indoor/outdoor living via large lanais and open floor plans. Zoned as A-1, it is managed by Destination Maui. Sales in the previous year have varied from $575K to $912K, with interior units (offering the best, unobstructed views) having a premium. View Palms at Wailea units for sale and contact us with any questions.

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Polo Beach Club

Beachfront on one of the most picturesque beaches in Hawaii and with a beautiful reef perfect for snorkeling, Polo Beach Club is among the best values for waterfront luxury condos in Maui. Two and a half acres provide the setting for an eight-story building encompassing 71 units, all of which are 2 bedroom / 2 bathroom units ranging from 1,186 to 1,321 square feet. A beachside pool with spa and barbecue area are for the exclusive use of owners and guests, with the added benefit of having an underground, covered parking facility. Built in 1982 and zoned as H-M (Hotel District), some of the units are in semi-original conditions, which is reflected in the price (only one sale in the past year, at $1.75M). View all Polo Beach Club condos for sale and contact us if any sparked your interest.

Part III contains information regarding the ultra-posh Wailea Beach Villas, perennial favorites Wailea Ekahi, Wailea Ekolu, and beachfront Wailea Point and Wailea Elua Village. Contact us with any questions.

For many, Wailea represents the ideal mix of luxury resort living, unparalleled natural beauty, and Maui’s Aloha spirit. Yet, with condos ranging from entry-level units in the $400K realm, to world-class beachfront units (some reaching the $10M+ mark), it can seem as a daunting endeavor to find the perfect one. But as always, with a bit of information, buyers can make informed/educated decisions that best serve their interests. And as for most Wailea condo buyers, the main qualifying factor (besides price, of course) is whether a complex can be used as a short-term rental, we are breaking this guide into Non-Vacation Rentals and Vacation Rentals. In this part we will explore Wailea condominiums that do NOT allow short-term rentals.

Be sure to Check Part II and Part III of our Wailea Condo Guide series.

Kai Malu

Set atop 25 acres on the hillside of Wailea’s Blue Course, Kai Malu consists of 150 units built in 2007. It offers the privacy of a gated community, a simply phenomenal infinity pool, a spa, and a community clubhouse. It is a short-walk to beaches, but it as sits towards the top of the hill, walkability is not for all. Attached garages, open floor plans, and (for some units) private pools/spas, make it seem more like a single-family residence than a condominium. Pets are allowed as per the By-Laws, but it also prohibits short-term rentals. Units range in size from 1,796 sq. ft. to 1,852 sq. ft. and there are a couple of a variations of floor plans. It is not designated as a flood zone and zoning is D-2 as per County records. In the past year, 14 sales ranged from $750K to $1.7M. Take a look at current Kai Malu condos for sale.

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Kanani Wailea

Built in 2006, Kanani Wailea is located off of Kilohana Rd, at Wailea’s northernmost border and is just a short downhill walk to one of the best beaches in the world, Keawakapu. Eight acres provide the setting for 38 units, varying in size 1909 sq. ft. to 2,229 sq. ft. in a variety of floor plans, with some offering the living area on the top floor for optimal views. It is a gated community, offering residents exclusive use of the infinity pool, exercise room, Jacuzzi, and clubhouse. Kanani Wailea is managed by Hawaiiana Management, allowing pets and zoned as Apartment. Recent sales represent a pretty strong value per square foot in Wailea real estate. The previous year saw 6 sales, from $617K to $900K. View all Kanani Wailea condos for sale currently and send us any questions.

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Papali

Upon its completion in 2008, Papali Wailea quickly became a standard-bearer for the new type of luxury living in Hawaii. Ten acres, directly north of Wailea Palms and East of Wailea Kai, provide the setting for 24 luxury properties. All Papali units are 3 bedrooms, encompassing 2,386 sq. ft. of living space, with careful utilization of natural light and glass to provide the perfect ambiance while maintaining privacy. Floor plans are exceedingly open, feature elegant wood tones and are primed for outdoor/indoor living, with properties terraces at elevations to ensure each enjoys superb ocean views. The gated community offers an incredible 75 foot infinity pool, spa, fitness room, and clubhouse. Developed by Popkin Weinstein LLC, it is currently self-managed, allows pets (consult HOA for details), and is not in a flood zone. In the previous year there were six sales, from $2.15M to $2.95M; peruse current listings at Papali Wailea.
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Wailea Fairway Villas

One of the author’s favorite properties in South Maui, Wailea Fairway Villas sits atop 12 acres bordering the Wailea Blue Golf Course, ensuring optimum golf course/ocean views. Built in 1998, WFV consists of 118 units across 24 buildings, with condos range in size from 2 bedroom / 2 bathroom (949 sq. ft.) to 3 bedroom / 3 bathroom (1,568-1,790 sq. ft.).  Building A,B,C,M, and U are on the eastern side of the property, so views are not as optimal (viewing over the parking lot and rooftops of the remaining buildings). It is zoned as D-2 and it is not on a Flood Zone. Owners and guests enjoy exclusive use of the swimming pool, jacuzzi, barbecue area, fitness room, business center, and storage units. Eight sales in the past year ranged from $440K (for a REO) to $985K – view current Wailea Fairway Villas for sale and contact us for a viewing.

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Wailea Palms

Also known as Palms II, Wailea Palms is the sister property of Palms at Wailea, with the main difference being that one allows short-term rentals while the other does not. Built in 1992 and spread across 14 acres overlooking the Pacific, Wailea Palms consists of 120 units on 16 buildings. Individual units range from 1 bedroom / 2 bathroom (1,022-1,032 sq. ft.) to 2 bedroom / 2 bathroom (1,194-1,299 sq. ft.), to expansive 2 bedroom / 3 bathroom condos (1,559-1,699 sq. ft.).  It is zoned as A-1 and is managed by Destination Maui Inc.  Being two blocks from Keawakapu Beach and from the Shops of Wailea, as well as a short drive to world-class golf courses, restaurants, hotels, it has a prime location near everything that Wailea and Makena has to offer within a comparatively affordable price. The three sales in the previous year were within a very tight range ($575K-642K), view all Wailea Palms for sale and compare current values.

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Wailea Town Center

Completed in 2007, the Wailea Town Center is a mixed-use property consisting of 20 business units and 7 residential units. Building A & B are only for businesses, while the residential condos are on the 2nd level of buildings C & D. Nestled on 4 acres above Grand Champions, all units enjoy sweeping views of the ocean, have private garages, and a very private (some would say ‘hidden’) pool with spa. Units range in size from 2 bedroom / 2 bathroom (1,616 sq. ft.) to 3 bedroom / 3 bathroom (1,910 sq. ft.). It is not in a flood zone and Maui County has designated it as zone B-2. In the past year, no sales took place. The last recorded sale closed on 11/2009 for $950K. View all Wailea Town Center units for sale and email us for more information.

Clearly for those looking for a condomium second home or a permanent residence in Wailea, there are a number of options available that could certainly deliver a dream experience at varying price points. Follow the Ultimate Guide to Wailea Condos Part 2 for a breakdown of all Wailea condos that allow vacation rentals. And for further information, contact the author at alex@mauirealestatesearch.com at 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.

Beachfront Kihei REO

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 Short Sale

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.

Lahaina Beachfront Short Sale

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.

In today’s market, full of uncertainty about the national economy and lingering questions regarding a double dip, potential buyers wonder about the state of Maui real estate. As such, we’d like to share some information with buyers looking at luxury condos in Wailea. First, let’s take a look at Hoolei:

Hoolei Condos

Active – Currently there are 16 Hoolei condos for sale. Ranging in price from $2.095M for a Hibiscus (largest floor plan) to $3.4M for another Hibiscus this time on C building, which is arguably one of the best locations in the entire complex.

Sold – In the past 6 months, there were 7 sales, ranging from $2,547,500 to $3.125M. This proves to be a marked improvement over previous sales, view our previous Hoolei Sales Update for a better comparison.

And now, one of my favorite properties in Hawaii, Wailea Beach Villas:

Wailea Beach Villas

Active – There are 11 Wailea Beach Villas for sale, ranging from $2.325M for a penthouse unit up to $5.149M for a breathtaking unit in the much coveted building E.

Sold – The past 6 mothns saw 4 sales at Wailea Beach Villas, from $2.65M for a unit that was on the market for a mere 29 days to $4.45M for a Penthouse unit. With previous sales going into 8 figures, WBV has garnered a reputation as one of the most exclusive condominiums in the world.

Being informed is the critical in any market and we aim to empower our clients by providing relevant information on which to make the best decisions.  Should you wish additional information regarding a Wailea Condo or Home, feel free to contact me at Alex@MauiRealEstateSearch.com or direct at 808.385.5034.

A Wailea Short Sale Offers Tremendous Value in Maui Luxury Homes

UPDATE: This transaction closed on 10/28/2011 for $957K.

Although most potential buyers are well acquainted with terms such as ‘short sales’, ‘foreclosures’, ‘bank-owned’, ‘distressed sales’, those who have been diligently searching for the high-end sector of Maui are also well aware that very few distressed single family homes come on the market in Wailea/Makena. In the past 10 years, there have only been 2 REO sales and 3 completed short sales in Wailea, yet a new short sale listing in Wailea Kialoa is sure to be one of the best values in Wailea real estate. This new listing, MLS#348644 offered at $997,900, is a beautifully kept 3 bedroom / 2 bathroom home featuring over 2,100 square feet of living interior, a phenomenal pool, an outdoor shower, high-end upgrades, and much more. Offers will only be accepted until July 15, so it is imperative to act quickly.

How does this home compare to other recent sales? In the past 2 years, the gated community of Wailea Kialoa has had 5 sales, with a median price of $1.695M and average of $1.836M. Looking at a broader picture of Wailea/Makena homes, there have been 47 sales in the past 2 years, with a median of $.1672M and an average of $3.089M. With world-class amenities such as championship golf courses, 5 star restaurants, spas, resorts, top-rated beaches, it is clear why some of the most affluent people in the world make Wailea and Makena their residence or vacation home.

Should you wish additional information about the aforementioned listing, Wailea real estate, or Maui in general, feel free to contact me at Alex@MauiRealEstateSearch.com or call 808.385.5034 any time.