During these uncertain economic times, experienced owners are asking what more can be done to generate additional vacation rental income for their Makena Condos and Wailea Condos. Prospective clients that are new to the South Maui Vacation Condo market are trying to determine what they can actually do with their properties in terms of handling vacation rentals.

Though this could be a long answer with lots of ideas, exploring various opportunities, I deliberately want to keep this answer very short and focus on just a few point. After a number of email requests over the last few days, I decided to offer a summarized explanation.

First up, all Wailea Condos and Makena Condos are owned fee simple.

Did you see that Wailea Elua 1002 and Wailea Elua 1904 are both listed in the Maui MLS? The owners are not related, at least not that I know! There are only a combined total of 24 units in the front row buildings of 10, 13, 17 and 19 in Wailea Elua. These buildings are sharing Wailea Elua’s most famous and spectacular green lawn just steps from the white sandy beach below.

During the last 5 years there has only been one listing / sale in building 13. Wailea Elua 1301 is a 1 bedroom / 1 bathroom layout with just over 800 square feet, that sold in May of 2006 for $2,100,000.00. In the same time, only one sale recorded in Wailea Elua for more then $3,000,000.00. And that was in building 18.

Wailea Elua 1904 is the most Southern location in this complex. And Wailea Elua 1002 marks the most Northern point within these Wailea Condos. Well, these are the upstairs units and of course, you can add the respective ground level units 1903 in the South and 1001 in the North to this description. Other then the lanais, the lower and upper level in Wailea Elua are offering the same floor plans.

Now 142 days on the market and listed at $3,900,000.00, Wailea Elua 1002 offers a partial remodel and is located right next to the community pool, the work-out center and the mail boxes. This 2 bedrooms / 2 bathrooms unit has 1259 square feet and does not have the extremely wide grassy area right in front of the building like the south end of the complex. This unit is for the ocean lover! Daylight offers spectacular beach and breaking surf views from any spot of the front lanai. You are facing west, straight towards the sunset. Fall asleep at night with the soothing sound of the waves.

Wailea Elua 1904 is nearly 2 weeks on the market and listed at $3,850,000.00. Basically for the same price, basically with a similar partial remodel. The 2 bedrooms / 2 bathrooms here are offering 1363 square feet with a completely different layout and setting. You will find yourself further up from the ocean. The keyword here is “privacy”, accomplished by the wide famous green lawn mentioned earlier. Ocean views are drawn towards the north, along side of the beach. The sounds of the ocean appear more distant from this location.

For your orientation, please visit the printable Wailea Elua Plat Map. The Sales Reports are a good way to keep abreast with recent sales and listings. You may contact me to be placed on my email system for listing and pricing notifications.

I have clients that studied the Wailea Condos located oceanfront. At some point it became clear that there is nothing like Wailea Elua, if you are looking closer. After a number of visits over a few years, these clients finally became owners in the complex. The knowledge I gained is simple: The front row units in Wailea Elua are simply in-replaceable. The product does not compare and so don’t the prices. It’s Elua – you deal with it!

Today’s Maui Photo is the glorious walkway meandering from Keawakapu Beach and Wailea Ekahi in the North all the way down to the Polo Beach Club and Palauea Bay. Easy access from anywhere in Wailea Elua as well as the proximity of the white sandy beach in front are the highlights of this distinctive gated community in the Wailea Resort.

Since the sale of the most spectacular unit Wailea Palms 3204 in May of 2009, none of the units in this complex sold for more then $1,000,000.00. Finally, the sale of Wailea Palms 2805 shows in the Maui MLS today with a recorded price of $1,100,000.00.

Is this an indication of recovery? Hardly. Wailea Palms 2805 has the large D floor plan with 2 bedrooms, 3 bathrooms and a total of 1559 square feet. The unit shows off an updated and beautiful island-style remodel but does not offer much of an ocean view. This quiet and private corner location in building 28 is a ground floor unit that was purchased for $1,595,000.00 in June of 2006, four years ago.

Out of six units listed at the Wailea Palms, there are 4 above the magical $1M mark and 2 are priced below. All of these units are 2 bedroom units. And one of them is a great deal, knowing that this is one of the very best units in this gated complex. It’s easy to show and I would be glad to be your guide. Contact me for the “Grand Tour de Palms” if you are currently on Maui. If not, I gladly send you a link to a fantastic photo collection of this exceptional Wailea Palms unit.

Today’s Maui Photo captures the summer sunset between the West Maui mountains and the island of Lanai. For a couple of weeks only, the sun will go down in the ocean between the islands during this time of the year. The colors are spectacular, that much, that I can never get enough of this view. Maui no ka oi – Maui is the Best.