The Realtors® Association of Maui just released the results for the month of March and the 1st Quarter of 2008. The complete pdf file for island wide results can be downloaded from my Activity Reports, bottom right side.

In Wailea and Makena, the sales of new Wailea Condos are certainly leading the statistic with 44 closed transactions from January through March. This includes 24 units in Kai Malu at Wailea, 17 units for Hoolei at Wailea and the first three closings of Papali Wailea.

The re-sale market shared an additional 20 transactions during this period: Popular Wailea Ekahi reported four closings while Grand Champions Villas, Palms at Wailea, Wailea Palms, Fairway Villas, Wailea Beach Villas and Wailea Point each had two closings. Wailea Ekolu and Kanani Wailea each closed one transaction.

Two Makena Condos had one closed sale each during the 1st Quarter of the year: Polo Beach Club and Na Hale O Makena. As a New Development, Maluaka at Makena will not show in the MLS for a while, but had a very successful start during the first few months of 2008.

Five Wailea Homes have been sold during the same time. Two homes in Wailea Kai and one home each in Wailea Kialoa, Fairway Estates and Wailea Golf Vistas. Though not in Wailea, it is good to know that the most expensive transaction was a home on Keawakapu Beach in need of a renovation. This transaction closed for $10,000,000.00. In addition, Wailea Pualani reported the sale of a vacant lot.

All other details for Wailea and Makena are available through our Activity Reports. They are updated weekly between Sunday night and Monday morning.

Welcome to Maui. I am sorry to inform you that you just missed the opportunity of a lifetime: back in 2007 you could have saved yourself $5,000,000.00 US dollar. But that was then. Cheers to the New Year: while the whole world has problems with declining real estate values, Maui doesn’t seem to ‘listen’ –again. It’s like: you have winter, we have summer -all year long!
This home on Keawakapu Beach was already listed for $20,000,000.00 when the listing price was raised by $5Mill. a few days ago. First one has to understand that this beach is truly one of the beaches that makes Maui so popular. Secondly there is the exact location of this home: it sits so far out on a peak in the center of the beach that it is a really unique location by all means.

Goes to show how unique South Maui, specially Wailea & Makena really is. Start bargaining but be prepared to pay the price for paradise. During my time as a real estate agent many people have asked me for our real estate values. While you can always find good deals, Maui is simply not like any other market. We are paying close to $4 per gallon of gas and we can go swimming in the ocean all winter long.

Happy New Year & the Best for 2008