2011 was a big year of significant sales for Wailea homes as well as for oceanfront homes in Makena. In total there were 29 sales for homes in the Wailea/Makena area (up from 28 in 2010) and the average sales price has risen to $4,146,988 which is up 9.24% from the 2010 average of $3,796,064. Below are some highlights of activity in 2011 for Wailea and Makena residential property.
Record sale in Wailea Golf Vistas
This Wailea Golf Vistas home sold for $5.2M - the highest sale in the history of Golf Vistas
The highest home sale within Wailea for 2011 was for 111 Manalo Place, a luxury home in Wailea Golf Vistas that sold in May 2011 for $5.2 Million. Not only was this the biggest sale in 2011 for the entire Wailea area, it was also the highest sale on record for the history of Golf Vistas. I was honored to represent the buyers for this sale.
There was only 1 other home sale in Wailea Golf Vistas in 2011. In 2010 there were 4 home sales and the average sold price was $2,436,250. The 2011 average sales price was $3,650,000 which is a 49.82% increase for the neighborhood.
Highest sale of 2011 was for a Makena oceanfront home
Oceanfront home in Makena sold for $27M
For the second year in a row, an oceanfront home in Makena has taken the title for the highest home sale of the year. 7150 Makena road, a 4 bedroom home on 1.69 acres, sold in July 2011 for a record $27 Million! This is actually the most expensive home sale ever recorded on the Maui MLS.
There were a total of 5 oceanfront home sales in Makena in 2011 and three of those sales were in the oceanfront community of Makena Place which is near Makena Landing and the condos of Makena Surf and Na Hale O Makena.
The sales volume for oceanfront homes in the Wailea/Makena area is down from 2010 (which had 6 sales and a total volume of $57.6M) but the average sales price in 2011 is up 10.45% to $10,606,233 thanks in big part to that record high sale.
Review of the Wailea home market in 2011
Certain neighborhoods in Wailea sold better than others is 2011, Wailea Pualani and Wailea Golf Estates showed a very positive increases while values at Wailea Kialoa declined. Here’s a look at home sales within the different Wailea neighborhoods.
Wailea Pualani
This community enjoyed a very healthy growth in sales both for the volume and the average values. Below are the 2011 numbers…
- Number of sales: 6 (up 3 from 3 sales in 2010)
- Sales Volume: $8,875,000 (up 145% from $3,612,500 in 2010)
- Average sale: $1,479,166 (up 22.84% from $1,204,166 in 2010)
- Average price/sqft: $501.25 (up 11.93% from $447.83 in 2010)
Wailea Golf Estates
- Number of sales: 2 (down 1 from 3 sales in 2010)
- Sales Volume: $7,812,500 (down 8.6% from $8,547,800 in 2010)
- Average sale: $3,906,250 (up 37.10% from $2,849,266 in 2010)
- Average price/sqft: $1,041.60 (up 11.06% from $937.91 in 2010)
Wailea Kialoa
- Number of sales: 6 (up 2 from 4 sales in 2010)
- Sales Volume: $7,979,000 (up 4.54% from $7,632,500 in 2010)
- Average sale: $1,329,833 (down 30.31% from $1,908,125 in 2010)
- Average price/sqft: $490.93 (down 17.96% from $598.42 in 2010)
Wailea Kai
- Number of sales: 3 (down 3 from 6 sales in 2010)
- Sales Volume: $3,250,000 (down 49.62% from $6,451,000 in 2010)
- Average sale: $1,083,333 (up 0.76% from $1,075,166 in 2010)
- Average price/sqft: $424.19 (up 7.24% from $395.55 in 2010)
Wailea Highlands
There was only 1 home sold in Wailea Highlands in 2011 – it sold for $3,500,000 and the price/sqft was $950.05. There were no home sales for Highlands in 2010.
Wailea Fairway Estates
One home sold in Fairway Estates for $1,265,000 and the price/sqft was $286.13. There were no home sales in 2010 for Wailea Fairway Estates.
Updated list of Wailea homes for sale
Below is a list of the 10 most recently updated Wailea home listings, including price changes and new properties on the market.
3885 WAILEA EKOLU PL
194 E PANANA PL
173 HELEUMA PL
4342 W WAIOLA ST
79 PUKOLU WAY
216 PAHI PL
4351 WAILINA ST
187 HELEUMA PL
3907 WAAKAULA PL
390 PUALOA NANI PL
