Maui Information - Communities

The Wailea Maui Real Estate Market

& the South Shore Luxury Maui Real Estate Market

Many visitors are familiar with the Wailea / Makena areas even before they arrive on Maui. Wailea’s reputation for elegance and up-scale, gated residential communities precedes it. Wailea Kiaoloa and Wailea Pualani Estates are two of the more established residential communities with construction starting sometime in the early 90’ for Kiaoloa and late 90’s for Wailea Pualani. Homes in these and similar areas range from slightly under $2 million into the mid-3’s. Somewhat newer residential developments, such as Wailea Golf Vistas or Wailea Highlands, command higher prices starting just below $3 million and going up.

The condo market in Wailea is also extremely popular. Even the “lower end” complexes in Wailea – “lower end” being a very relative term – start at around $1 million dollars. This range rockets up into the $2, $3, and $4 million price point with such properties as Na Hale O Makena, Wailea Point, Polo Beach Club and Makena Surf. The even newer and more exclusive complexes such as Wailea Beach Villas or Hoolei are commanding $3 to $5 million for their spectacular locations and special developer / owner / amenities packages and incentives; with penthouse units at Wailea Beach Villas with list prices of over $9 million dollars.

Kanani Wailea is an example of a new, gated community of residential condos that are actually single family free-standing dwellings on common land and have the low maintenance benefit of a condominium complex. The association fees cover all exterior maintenance including the roof, exterior paint, gardens and landscaping. The community also offers a clubhouse with infinity pool, Jacuzzi and fitness center which are also covered by the association fees, as is an on-site manager. These new “homes” range from approximately $1.9 million to the mid-2’s.

While the Makena beaches, including Big Beach and Little Beach, beckon many a traveler to kick-back and enjoy the sea, sand and seclusion, Wailea is home to world-class golf courses as well as world class shopping and dining which is why even as other real estate markets are slowing down this market continues to hold strong.

According to the Realtor Association of Maui’s year to date ending June 30, 2007 statistics, the average home price in Wailea was slightly over $3.4 million. This figure remains unchanged from the same time period last year indicating once again the area’s strength even in a fluctuating market.

Makena’s landscape is punctuated but Puu Olai, a large red cinder cone, visible from many points as you approach the area. Numerous stunning homes are being built along Makena Road. The homes for sale along this stretch of road list for at least $4 to $5 million dollars with most averaging closer to $7 or $8 million. The location, views, privacy and stunning natural beauty of the area are highlighted by its close proximity to Ahihi-Kinau Natural Area Reserve and beautiful and historic La Perouse Bay which can be reached by following Makena Road.

Katrina Pitman Real Estate

P.O. Box 1733, Makawao, Maui, HI  96768

Phone:  (808) 298-6938

Email: Katrina@KatrinaPitmanRealEstate.com

Credits: Photo of Hawaiian Torch Lighting Ceremony & first image View from Wailea by Kristin Fein of Fein Art Photography: (808) 281-1302. All other photos by Mary Sloan Photography (808) 283-6374

© 2007 Katrina Pitman Consulting Services