End of Summer Inventory at Palms at Wailea
Palms at Wailea 608 is an extremely popular unit among visitors as the sellers aggressively market the unit through short term rental services. Although the unit sees a lot of rental action, the owners operate the booking themselves so they have taken fantastic care of it over the years and you can’t even tell the unit is rented often. The unit offers an excellent 2nd floor location with clean furnishings and a sunken living room to add extra depth to the unit. Building 6 in particular is a great building because it is just a 5 minute walk to Keawakapu Beach and a 1 minute walk to the expansive community infinity pool. With $70k+in annual gross income, the unit represents an amazing value and a great opportunity to generate positive cashflow.
Listed at $1.2 million
Palms at Wailea 1003 is an incredible unit that was excellently remodeled over the years with modern wood floors and a beachy hawaiiana style to match the Wailea lifestyle. Encompassing close to 1200 sqft of interior living space, the outdoor lanai space adds an additional 420 sqft of breezy living area that seamless blends into the living room. The lanai wraps around in a 90 degree fashion which creates two distinct outdoor spaces that offer two very different views of Wailea.
Listed at $1,995,000
Summer Closings at Palms at Wailea
Closed in the very early summer, Palms at Wailea 2101 is a great 1 bedroom unit with an equally impressive rental history in a very private ground floor setting. The unit underwent a recent top to bottom remodeled with upgraded bathrooms and new tile throughout the entire space to make for easy clean up. The best part of the unit is the 475 sqft of lanai space that overlooks a private grassy lawn and even has some peek-a-boo ocean view through the trees.
Sold for $675,000, $25k under asking
Palms at Wailea Market Update 2017
The Palms at Wailea market is experiencing a decent year, with it on a similar pace as 2016 sold data. The communities best feature is its location; it is perched on a slight hill that overlooks Keawakapu Beach while only being 2 minutes to the Shops at Wailea. Since the start of the year, there have been 4 units sold with no sales coming after late May.
The sales have taken place in a variety of different price points including, $600k, $700k, $800k, and $1.1 million. With a diverse range of units, some are able to command more than others because of the location in the complex, view corridor, level of finishes, number of bedrooms, and rental history. With so many different aspects at play impacting price point, buyers need to work with somebody who understands the nuances that separate one unit from another.
- Number of Palms at Wailea units sold: 4
- Average asking price: $834,275
- Highest priced unit sold: $1.1 million
- Lowest priced unit sold: $675,000
- Number of units in escrow: 0
With only 5 Palms at Wailea condos for sale on the market, the pickings are slim in the community as there is only $4,855,000 in inventory on the market. While 80% of the listings have come to market within the last 6 months, one unit has been listed for over 3 years!
The $700k and $1 million price points are currently the most popular with 2 listings in each. The $1m listings represent the upper max to get into the complex, while the $700k represents the lower minimum you can get into the complex at.
- Number of Palms at Wailea Condos For Sale: 5
- Average asking price: $971,000
- Highest priced unit for sale: $1.2 million
- Lowest priced unit for sale: $778,000
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.