Truly Like No Other: Wailea Point Unit 102
When I saw the $25 million list price, I quietly picked my jaw up and rubbed my eyes to make sure I was correctly seeing an 8 figure price tag, and yes this spectacular villa is really listed for a quarter of $100 million. The property was bought back in 2011 in the high 7 figures, with the list price suggesting the sellers are looking to more than double their initial investment (assuming they can close near their list price). The significant remodel, dramatic Pacific Ocean views, renowned villa location, ease of lock and go access, potential rental income, and community prestige all factor into the steep list price.
With it’s high asking price, it’s clear that this unit is meant only for top 1% of the 1%. Here’s what the listing agent wrote about the property in their public remarks…
There has never been another property like Wailea Point residence 102 – and never will be. One is immediately struck by its world renowned location, which is matched by the exquisite interior that employs the most elegant materials.
Wailea Point Real Estate Market
Considering the Wailea Point market, seeing 7 units change hands in 2015 points to positive signs for 2016. Typically, Wailea Point is considered one of the pricier condos to get into with a $3.6 million average sold price in 2015. The last third of the year is where the Wailea Point market saw the most action, more than half the closings were finalized in September or later. Some notable closings were all cash deals at $3.8, $4.2, $4.6, and $5 million. The lowest priced unit sold was a pocket listing we represented the buyers for at $2,141,000.
Sold in the last few years for $5 million
At the moment, the Wailea Point market is teeming with desirable vacation rental condos for sale. There are currently 14 units available to qualified buyers, the villas are falling in the price range of $2-$25 million; however, the Wailea Point market does not normally have a ceiling of $25 million, the top of the market usually peaks more around $10 million. The average list price for a villa is sitting at just over a $5.5 million; a more accurate representation of villas for sale is the median list price hovering around $4.4 million. The lowest priced unit is $1.85 million, it’s a a ground level unit with ocean views towards West Maui. The second highest priced villa in the complex is truly amazing; it encompasses two units (802 & 804), with a total living area of 6000 square feet (including 1000 square feet of luxurious outdoor space), and expansive ocean views.
Wailea Point condos for sale
4000 WAILEA ALANUI DR #901
4000 WAILEA ALANUI DR #3403
4000 WAILEA ALANUI DR #1602
4000 WAILEA ALANUI DR #1202/1204
4000 WAILEA ALANUI DR #2502
4000 WAILEA ALANUI DR #102
4000 WAILEA ALANUI DR #1804
4000 WAILEA ALANUI DR #2804
4000 WAILEA ALANUI DR #802-804
4000 WAILEA ALANUI DR #801
Complete Inventory of Waiela Point
Contact a South Maui Real Estate Specialist
Our team has been blessed to have been part of this extraordinary community since its creation in 2005. Our real estate information office is located on site and is open 7 days a week. It truly brings a smile to my face meeting first time guests, return visitors, and full-time residences that love and embrace the Maui lifestyle.
We’d like to extend an invitation to you to feel free and stop by the on-site Ho’olei real estate information office, which is open daily, before the reservation desk, from 9:00AM – 5:00PM.
Mahalo,
Anthony Sayles
(808) 280-6531
Anthony@DanoSayles.com