Summer Listings at Wailea Elua
From this 1st floor unit, Wailea Elua 2103 offers a coveted bonus not many units have, an oversized 1 car garage! It is perfect for storing your car while you’re away, beach gear golf clubs, surfboards, or miscellaneous items, either way it is a nice feature to have extra storage if needed. There are two outdoor living spaces, a covered lanai in the front of the unit and a private open air garden lanai with the privacy of a 6 foot rock wall; the garden lanai will come in handy for when you want to bbq or relax outside and star gaze.
Listed at $1.4 million
Similar to the unit above, Wailea Elua 705 is very similar to the unit above (2103) in terms of floor plan and layout with the exception of finishes and location; this unit actually has lower maintenance fees than the one above. They provide nice comps against one another and demonstrate to buyers how finishes and location impact list price. With 500+ sqft of outdoor space and 1400+ sqft of interior living, the unit totals just under 2000 sqft which is fantastic for the Wailea area and is great for accommodating large parties if the buyer chooses to rent out the unit.
Listed at $1.7 million
Wailea Elua 406 is an upgraded 2nd floor unit which has been immaculately taken care of as the pride of ownership is evident throughout. Featuring 2 bedrooms, 2 bathrooms, 1259 sqft of interior living space, and an additional 300 sqft of outdoor lanai space, the unit is perfect for entertaining or accommodating large parties should the buyers choose to rent it out. The living room flows seamlessly onto the outdoor lanai which offers amazing ocean views and is an ideal setting for catching the South Maui sunset.
Listed at $1.75 million
Wailea Elua Market Update 2017
The Wailea Elua market has cooled off quite considerably since April, where all 6 closings took place in the first 4 months of the year. The most productive month was April with 2 closings; January had two closings, but those buying decisions happened in 2016 when the contracts were written.
66% of the units sold were above $1.5 million, while the $1 million price range is the most popular with 3 units sold. The $900k range was the 2nd most popular with 2 units sold where they were both 1 bedroom/2 bath units.
- Number of Wailea Elua condos sold: 6
- Average sold price: $2,371,499
- Highest priced unit sold: $2,215,000
- Lowest priced unit sold: $950,000
- Number of units in escrow: 1
Highest Priced Unit Sold
Exceptional 2nd floor, 2 bedroom, 2 bath residence with a wrap around lanai featuring Wailea’s sweeping ocean and mountain views. An ideal location at the southern edge of the property with elevated ocean views providing complete privacy. Remodeled and redesigned with an open island kitchen, expanded bedrooms, Italian cabinetry, granite, marble, tile, glass and lighting create sophistication and comfort.
Lowest Priced Unit Sold
Sold as a pocket listing and never publicly available on the open market. The property was a 1 bedroom, 2 bathroom unit with 940 sqft located on the 1st floor.
Currently, none of the units for sale are under $1.4 million which indicates the Wailea Elua condos for sale are on the higher end of the spectrum. 5/6 the units for sale have been on the market for less than 6 months; the Wailea Elua market is an exclusive community to get into because of the high barrier to entry and the pricey monthly maintenance fees.
2 of the units for sale are priced at just under $4 million and represent the very top of the market because of proximity to Ulua Beach. The front row units are the most coveted because of the unobstructed views they offer, coupled with the fact they can command a higher rental rate during peak visitor season.
- Number of active Wailea Elua condos for sale: 6
- Average asking price: $2,371,499 (inflated because of the two outlier listings)
- Highest priced listing: $3.9 million
- Lowest priced listing: $1.4 million (Wailea Elua listing 2103 featured above)
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.