On one of the last days in 2009, Papali Wailea unit #6 showed in the Maui MLS with a $300,000.00 price reduction. Not three weeks have past and this unit in Papali Wailea has been announced as one of priciest Maui Short Sales. Unit #6 is brand new and has never been lived in.

Papali Wailea still counts as one of the New Developments within the Wailea Resort area and not all of the original units have yet been sold. This particular Wailea Condo first closed and transferred title in April of 2008 for a whooping $3,240,000.00. Then, in June of 2009, we have seen Papali Wailea unit #6 first back on the market for just below $3,300,000.00. In November of last year the price was reduced to $2,699,000.00.

Today, after 219 days on the market, unit #6 is listed for $2,395,000.00. Well, from my experience I can say that life in the “Short Sale” world is not exactly that easy. Though the Seller may still accept an offer, it is now the lien holder who will make sure that the property gets sold close to market value. Mostly this extra signature translates into extra time and patience necessary to close the sale. Nevertheless, it might be a great deal for the right person.

If you are interested in this or any other of the South Maui Short Sales, please contact me at your convenience. Together with my weekly Sales Reports, I started running lists for Bank Owned South Maui Real Estate and for South Maui Short Sales. They are in PDF format and can easily be emailed.

Today’s Maui Photo was taken from the side of the infinity edge pool of Papali Wailea. In my opinion, this is the single one superior construction from any of the Wailea Condos ever built. There are only 24 units in total, lots of room and open space on over 10 acres of gently sloped land. In fact, these could be considered Wailea Homes much more then Wailea Condos. All of the units are free-standing, only attached to one side through the neighbor’s garage roof line.

The Papali Wailea Plat Map is printable from this website and greatly helps to locate any of the units including Papali Wailea #6. More easy: contact me for a tour    Mahalo, VW

At the end of Piilani Highway at the 90′ corner, that’s where the new Wailea Gateway Center has been built. South Maui’s newest Center is sharing the entrance just off Wailea Ike Drive with The Bluffs At Wailea. The lots of the Bluffs are situated in a fan-like position on two sides of the Wailea Gateway Center. None of the vacant lots of The Bluffs At Wailea has been sold yet. My Bluffs At Wailea Plat Map gives a quick overview of the layout.

Over the last two years, always 6 lots have been listed For Sale in the Maui MLS. These listings showed either lots 1 through 6 or lots 7 through 12. Fact is that all lots are still available and can be purchased. The Bluffs At Wailea are certainly still listed as a of the New Developments. The Wailea Gateway Center is nearly ready and is scheduled to open very soon. As mentioned, Coldwell Banker Island Properties will be moving it’s office from the Wailea Town Center to the newer location at the Wailea Gateway Center.

The prime lot of The Bluffs At Wailea is lot #4. With over 51,000 square feet, it is just over 1 acre in size and located in the prime corner location with magnificent golf course as well as ocean views. The current list price is noted with $3,950,000.00. For your comparison, lot #1 has about 22,000 square feet and is bordering the Piilani Highway, more or less. It is available for $1,075,000.00. So here you have it, Vacant Land in Wailea still does not come cheap. There is just not much left of it.

I took today’s Maui Photo from the corner of lot #9 towards the West Maui mountains, basically towards the north west direction, overlooking the property with lot #4 in the far distance. With all current Maui Listings for The Bluffs At Wailea showing between the above mentioned price for lot #1 and lot #4, I can safely state that any of the lots are available in the price range of $1M to $4M. Some of these lots are offering great possibilities! Be sure to check the plat map and then give me a call 

If you are considering the purchase of Vacant Land in Wailea or Makena, please let me know. There are still other parcels that might be of interest.

With the Winter knocking at the door in many parts of the world, Wailea Condos are becoming most attractive again. Specially when you are able to get them at what I want to call “market oriented prices”. Today’s sale of Hoolei At Wailea O4 shows that there are realistic sellers out there. And this Buyer got the Best Deal on a listed Plumeria Floor Plan unit in this Wailea Condo.

Hoolei At Wailea O4 originally sold in January 2009 for just below $2,4M. The sale from today recorded, fully furnished, for $2,025,000.00. Looks much better with all the ‘zeros’ behind, but it truly was a deal, no matter how you put it!

Of all the Condos in Wailea and Makena, Hoolei At Wailea is leading the 2009 statistics. There are currently 16 active listings from $1,75M up to $3,35M. In my eyes an amazing and unrealistic gap for properties in such a close proximity, nevertheless and as always, it’s about the view and the location, location, location. 16 listings may not even be much, considering the 23 in Kai Malu At Wailea. But Hoolei’s story goes on.

A little shocker was the new listing of unit B1 with $3,35M from a few days ago! But there are also 3 active Escrows, all showing around $2,2M. Hoolei At Wailea is one of the New Developments and the 3 units are P1, P3 and O6. All of these units are original / first time sales with the developer.

Hoolei At Wailea is out to set another record for 2009. Just over 60 Wailea Condos have been sold between all condos in the resort area. To date, the stunning number of *17*SEVENTEEN* counts for Hoolei At Wailea. Basically, nearly 50% of all Condos in Wailea that sold for over then $1M are in this complex. Amazing.

The pool and recreation area of Hoolei At Wailea reflects the ambiance and the connection to the Grand Wailea Resort. In fact, it feels like a much smaller sibling of the famous hotel across the street. The reservation system is connected between both operations and a free shuttle service for owners and visitors is available. Depending on the individual owner, Hoolei units may be offered as vacation rental units.

Unit numbers are not not posted on the buildings. Only the county assigned street numbers. My Hoolei At Wailea Plat Map is extremely helpful for your plannings. The Sales Reports will keep you updated on the most recent activities. And I would enjoy representing you when you are ready for a personal tour and purchase within this Wailea Condo. Mahalo, VW.