The answer is YES, there will be a residential ownership opportunities at Andaz Wailea, although for now we don’t know much about what the price or the size of the units will be.
The residential component of Andaz Wailea is still under design.
It will be at least 60 days before details are available.
Source: Email from Laurie Cole, the Director of Communications for Hyatt Hotels Corporation.
So it seems we won’t have any concrete details on condo plans for Andaz Wailea until February 2012. When there is any news we will report it on our Andaz Wailea Resort page, in the meantime we can examine what was initially announced in the early press releases and speculate on the offering prices based on other Wailea condos for sale.
Initially reported condo plans for Andaz Wailea
In the Hyatt press release from October 2010 it stated that the Andaz Wailea Resort and Residences would include six villas – each villa would have four bedrooms and the average living area would be 3,500 square feet.
What will it cost to buy at condo at Andaz Wailea?
Remember, they’re still in the design phase for the residential ownership opportunities at the Andaz Wailea Resort so all we can do is speculate on what the offering prices might be. If we review recent sales for Wailea beachfront condos we might get a sense of a possible price range for condos at Andaz Wailea.
The nearest condo community is Wailea Elua which fronts Ulua beach (right next to Mokapu beach), Elua is great but the construction is older and it would be hard to use it as a comparison for Andaz.
Wailea Beach Villas is a good community to use for comparison as it’s much newer (2005) and also fronts one of the top beaches in Wailea. This year Villa D-101 sold for $5 Million, in 2010 there were three Villa sales ranging in price from $3.725M up to $12.5M (a record sale for A-201 which has the prime location). All the actual Villas fronting Wailea Beach have 3 bedrooms and less than 3,000 square feet of living area, initial plans for Andaz were for 4-bedroom villas with over 3,500 square feet.