The lowest priced villa available in Wailea Elua at the moment, the condo presents itself as an immense deal. The unit is technically listed as just under 1000 square feet, but as you can see the lanai adds over 300 square feet of extra living space. The lanai is perfect for morning coffees, lunch, grilling for dinner, or the perfect spot to soak up those famous South Maui sunsets. Listed at $1,225,000, it’s a decent price to get into the resort for; however, if you can manage to seal the deal, the option to rent the villa as a short term rental is a major consideration. The potential rental income from a unit like such can go a long way in helping cover carrying costs and make it a very doable option.
Sitting on enchanting Ulua Beach, this 1 bedroom, 2 bath condo has been neatly upgraded. Wailea Elua is an exclusive gated property located in the heart of Wailea Resort with easy access to The Sops at Wailea as well as the famous 1.5 mile Wailea Beach Walk that wanders Maui’s coastline.
At the moment there is a wide diversity of units to choose from. At the low end, a charming single level with deep ocean views. On the high end, a $500k renovation as the villa was selected first in the lottery when phase II of the complex was built due to its private garden setting & exceptional view corridors. The Elua market starts off in the low $1 million and ranges upwards of $2 million, peaking around $3.5 million (the complex’s best units).
In 2015, there were only six units sold for a total sales volume of $9,380,000. The 2015 average sold price for a villa was just over $1.5 million with a median price of $1,500,000. The lowest priced villa to sell was a spacious and elegant 2nd floor remodel with a lanai boasting wide open ocean views to the island of Lanai; sold for $1.1 million. The highest priced unit sold for $2.1 million; a rare 3 bed, 2 bath unit with over 1600 square feet, two large lanais, and an enclosed garage. Interestingly 5 of the deals came in first 5 months of 2015 while the 6th and final deal closed a little before Thanksgiving.
Contact a Maui Real Estate and Lifestyle Specialist
Please interview me to be your trusted Maui Real Estate and Lifestyle Advisor. I was born and raised on the island, and spend a considerable amount of time to inform my clients about the best deals currently on the market. Please do not hesitate to call me for your Maui real estate needs. I am more than happy to assist you in your home search.
Aloha,Anthony Sayles R(S) 808-280-6532 Anthony@DanoSayles.com