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.

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