The results for the month of January 2010 in South Maui is bringing expected activities for Wailea Real Estate and Makena Real Estate. Including the popular Kihei Condos and Kihei Homes, there are currently 195 pending transactions listed in the Maui MLS, just for the South Maui Real Estate market alone. Potential South Maui Short Sales have now reached the still rising number of 76, while the number of South Maui Bank Owned Properties (REOs) for sale now increased to 21. The “true Sellers” how I like to call them, are getting more and more under pressure by this type of listings.

With only 3 Makena Condos, there are no escrows or closed sales to be reported for this month. Out of 17 status changes for January 2010, 6 Wailea Condos have been sold while another 11 Condos received accepted offers and are now in Escrow. The following description is just an overview of the transactions, but you may refer to the individual updated Sales Reports by using the blue property links in this text.

With 4 status changes, Wailea Ekahi shows as “the winner” for the Wailea Condos. Wailea Ekahi 17C is a 1 bedroom 1 bathroom unit and sold for $670,000.00 this month. Wailea Ekahi 52A is a similar plan and was listed as a potential short sale. This unit is now in escrow. Unit 1C is equal to these two units, not a short sale, but the owners also received and accepted an offer.

And what was available for $1,750,000.00? Answer One: Wailea Ekahi 14C, 2 bedrooms 2 bathrooms, 1172 square feet, old school oceanfront condo, listed for 39 days. Answer Two: Hoolei At Wailea T6, 3 bedrooms 3.5 bathrooms, over 3000 square feet, one of the New Developments, listed for 244 days. What else is in common? Both of them are South Maui Vacation Condos. And now both of them are in escrow!

The Palms At Wailea, Grand Champions Villas, Wailea Ekolu and famous Wailea Point each reported the closed sale of a 2 bedroom 2 bathroom unit. With $535,000.00, Grand Champions Villas still constitutes the “entry ticket” to the Wailea Condo market, while Wailea Point 1904 sold as the most expensive unit in the Maui MLS with a sales price of $1,550,000.00. A 1 bedroom 2 bathroom unit, Palms At Wailea 1701, recorded as a recent record low in this complex, making it a deal for $462,000.00 for the new owners.

Grand Champions Villas unit 61 and unit 17 are both 2 bedroom 2 bathroom units, the first one listed as a potential short sale. Both of them were available for just below $400,000.00 and both of them have received offers and are now in escrow. The highest new escrow for any of the Wailea Condos shows for Wailea Beach Villas, penthouse 207, which is listed for $2,296,000.00 at this point. Wailea Elua 2011 is a cute 1 bedroom 2 bathroom unit that is now about to sell the first time since it was built. It shows a list price of $1,400,000.00.

Kai Malu At Wailea 75A is listed for $1,515,000.00 and will soon have new owners. Kai Malu At Wailea 18A is a Bank Owned Property for about 50% of this price. Both of them have received offers to open escrow. Wailea Fairway Villas Y103 is a beautiful 3 bedroom townhouse, also a potential short sale, that reduced the price from $1,225,000.00 to $699,000.00 over time, now finally shows pending in the Maui MLS.

There are some new oceanfront Makena Vacant Land listings available for sale, but no vacant land sale has been reported ‘closed’ in this area since October of last year. Wailea Golf Vistas lot #25 was available for $1,495,000.00. This is a great view lot in this gated community that finally received an offer.

January 2010 shows two very different Makena Oceanfront Homes that sold for two very different prices. I previously reported about 6980 Makena Road and also about lot #7 of Black Sand Beach, 5500 Makena Road. 357 Pualoa Nani Road in Wailea Pualani Estates is the only one of the Wailea Homes that sold this month. The price was $1,350,000.00. New escrows are a short sale on 179 W Ikea Kai Place in Wailea Kialoa and a single level home in Wailea Golf Vistas on 4350 E Waiola Loop. Both of these are listed just below $1,300,000.00.

As far as New Developments, the developers of Papali Wailea accepted on offer on unit #24. This is the unit right next to the recreation area on the lowest terrace, yet, one of my favorite locations in this complex.

Maui Meadows reports the sale of 1127 Kupulau Drive, another Bank Owned Property with a 3 bedroom 3 bathroom home, for $645,000.00.  The cottage on the lot of 3407 Keha Drive sold for $650,000.00. With excellent ocean views from the home and the cottage, 539 Pawali Street in Maui Meadows still belongs to a Maui Real Estate Agent. But she has moved of island and received an offer on her $1,700,000.00 home/listing.

Kihei Homes and Kihei Condos have never been really part of my posts here for the end of each month, but I will make similar details available upon request. Please contact me at your convenience. I’d be glad to help!

With only 40 units in total, Na Hale O Makena is the smallest of the three Makena Condos. And with only 6 buildings in total, Na Hale O Makena F301 is one of only 12 two-story top-floor units in this complex. Yet, it is like no other! The 2nd floor has a custom full bath with dual sink that was designed and built after the construction was completed. The upstairs bedroom has a closet and a door, making it a full 4th bedroom. The entire build-out is magnificent.

Na Hale O Makena F301 is a new listing and available for sale with a current asking price of $2,975,000.00. There are 4 bedrooms with 3.5 bathrooms, a total of nearly 2,800 square feet interior living space. The spacious floor plan feels wide open with a living room / kitchen combination and high vaulted ceilings towards the upper living area. The original owner chose the island-style dark cherry wood finish for the bathrooms and the kitchen. Na Hale O Makena is a luxury Makena Condo with all the comfort and amenities one would expect from a New Development in 2002 in this price range.

There are 8 units listed for sale in Makena Surf and another 5 units in the Polo Beach Club. Little, quiet Na Hale O Makena only has 2 units listed in the Maui MLS. With a total of only 15 listings, any of the Makena Condos remains an exclusive product in the South Maui Real Estate arena. In 2006 only one sale has been recorded at Na Hale O Makena. 2007 and 2008 saw 3 sales for each of those years. And there was no sale in 2009. This is a solid complex with very little turnover.

On today’s Maui Photo you can see Na Hale O Makena F301 in the center, the top two stories under the peaked roof. The single level roof line on the right side is the fitness center building, with the common pool, Jacuzzi and BBQ area located just to the left. Sprawling over 6,4 acres of land, this is a quiet Makena Condo and is not allowed to offer vacation rentals. For your orientation, please visit the printable Na Hale O Makena Plat Map. And here you can find the Sales Report.

In March 2007, I represented the Seller in the only sale at Na Hale O Makena that closed for over $3,000,000.00. I also represented these Sellers when they bought their unit a number of years earlier. Over the years, I brought other Buyers to Na Hale O Makena, that are still happy owners to date. I do know this complex and really enjoy the tranquility and privacy of this area. Call me for more information and a private tour. Mahalo, VW

This is it! Makena Surf F103 is a tasteful and completely remodeled Ground Floor unit with 2 bedrooms and 2 bathrooms, offering 1,510 square feet of true oceanfront living. Located almost at the southern ‘corner’ of the F building, this unit enjoys a dream-like setting with splendid views towards the south, including the outer islands of Molokini and Kaholawe. Without a doubt, the newly listed unit Makena Surf F103 currently represents the single best value here, with an asking price of $2,700,000.00.

Makena Surf is one of only 3 Makena Condos. As a ground floor unit, F103 enjoys the benefits of the easily accessible and well manicured lawn right in front of the lanai, just a few feet above the natural lava rocks with the crashing ocean waves. Oceanfront can’t be any closer to the water, more soothing, yet spectacular, in any other setting. I love this place! Can you tell?

Today’s Maui Photo was taken from the green lawn outside of Makena Surf F103, only steps away from the lanai. There is a shady tree right next to this lanai: a great place to enjoy a good book or simply to hang out. The tiny beach is called Secret Beach and allows vistas of the bordering few buildings of Makena Place.

A similar unit in the B building is listed for an extra million US$. That’s right, Makena Surf B102 has the same square footage and is listed for $3,699,000.00. And Makena Surf B206 is a second floor unit with 200 square feet less, offered for the same price as the featured unit. Out of 108 units in Makena Surf, there are now a total of 8 units listed for sale in this Makena Condo. I would very much enjoy giving you the ‘Grand Tour’. Mahalo for your consideration, VW.