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!

Over the last 10 days or so, it seems that The Palms At Wailea have been “Taking Off” per say. It seems that these popular Wailea Condos are preparing for a promising 2010 Winter Season. The Maui MLS shows four new listings plus a couple of price reductions. There are now a total of 12 Wailea Condos for sale on this side of the Palms and another 2 units are in Escrow, indicating a pending sale. That’s big! The years of 2009 and 2008 only brought a total of nine sales, while there were 16 recorded sales back in 2007.

At $1,150,000.00, Palms at Wailea 1510 may not be the best deal, but sure has the best views and the most complete remodel from everything else currently listed in this complex. The floor plan is an upstairs C plan with almost 1,300 square feet of living space. Palms at Wailea 1507 and Palms at Wailea 206 are also newly listed for $1,038,888.00 and $825,000.00 respectively. 1507 is a ground floor unit and 206 is an upstairs unit, both of which have the 1,194 square-foot B floor plan.

Special Note: Palms At Wailea 1203, a ground level B plan, sold on January 6th for $750,000.00 and is now listed as comparable sale in the Sales Reports.

Today’s Maui Photo was taken from the pool area looking towards building 15. You can clearly identify the peak corner units 1507 and 1508. I have sold both of these units in previous years. These Palms At Wailea units are available as Wailea Vacation Condos through 2 different companies. Both of them have their charm and have been remodeled in very unique and different ways.

New is also Palms At Wailea 202, an upstairs 1 bedroom 2 bathroom unit with 1,022 square feet listed for $599,000.00. I sold the corresponding unit, Palms 302, last month as a short sale for $500,000.00 to some happy Canadian clients. For a complete listing of recent sales, please refer the Sales Reports.

Put all that together and it’s easy to understand that Palms At Wailea 405 is currently the best deal available in this Wailea Condo. It is a Maui Short Sale now listed for $499,000.00. This is a ground floor 1 bedroom unit in a quiet location, right behind the front office and very close to the pool. This unit is very well liked by the on-site rental company. Email me and I gladly share the excellent rental history from previous years with you. YES – this is my personal listing.

$1,550,000.00 IS a Killer Deal for a unit in Wailea Point. These famous Wailea Condos have not seen a sale for this price or lower in over 5 years. Ok, Wailea Point 1904 is not a front row unit and is not completely remodeled like some units are. But it is an upstairs location, offering additional space through the built-in loft with it’s open staircase.

Wailea Point #1904 is a 2 bedroom, 2 bathroom unit with just over 1,800 square feet of living space. There is a small ocean view towards the West Maui mountains. I always enjoyed visiting this unit. It shows beautiful, spacious and wide open with the vaulted ceiling in the living room. Interior and furnishings are in excellent condition. This was an excellent buy. Congratulations!

Today’s Maui Photo gives a good impression from the upper pool area at Wailea Point. Unit 1904 is virtually a stone throw away from this pool and fitness area in the complex.

No need to be sad! There currently seven more units available for sale in this Wailea Condo. Depending on the location, the size and the grade of the remodel completed, listing prices for Wailea Point are currently ranging from just below $2,000,000.00 to over $11,000,000.00 for an upper floor double size unit in the front row. For your orientation and to locate specific units, please visit my Wailea Point Plat Map.

As this sale indicates, times have changed dramatically. And so have the prices. Wailea Point units will never sell at bargaining prices. If you are expecting this to happen, do not start shopping at one of Hawaii’s best condo projects. Yet, if you are checking the Sales Reports, comparing today’s prices with recent sales, you will agree that there are fair deals to be made here. If you are looking at Maui Real Estate, and then coming to Wailea Point, you won’t want to be anywhere else. It is that spectacular.