Cut Price Wailea Highlands: 4378 Melianani Place
Listed in the early August of 2015, the home was brought to market at an original list price of $5,580,000. Throughout the course of its time on the market, the property actually went pending in early December but fell out of escrow a little before Christmas time. The home finally successfully went under contract in mid June and closed for $3.8 million after a quick 3 week cash escrow; in the end, the sale represents a fantastic sale for the buyers as it is extremely rare to get into the Wailea Highlands neighborhood for anything under $4M. The property sits on half an acre which is a fantastic lot size for the resort area and the elevation of the neighborhood helps the home take advantage of ocean views.
This elegant estate, is situated on over half an acre in Wailea’s premiere residential address, The Highlands. Tropical elegance and privacy abounds. Home features include; a three car garage and drive through Porte Cochere that adds a certain je ne sais quoi, and a touch of European elegance. Interior living area compromises almost 5,000 square feet with both large and intimate dining areas, open chef’s modern kitchen, first floor master bedroom suite, library and media room. Upstairs features 3 additional bedrooms, all with en-suite bath. Enjoy ocean views both upstairs and down. Private entertaining is made easy inside and out by the pool, expansive lanai and tropical grounds.
Wailea Highlands Market Update
So far in 2016, two Wailea Highlands homes for sale have sold, which includes 4378 Melianani Place featured above. The other home to sell was sold at $5,300,000, it was specifically created for Wailea’s indoor/outdoor living, the architecturally-designed residence has sweeping ocean views, grand spaces surrounded by gracious, oversized lanais, a stunning full-length infinity pool, and lush tropical landscaping, creating one’s own private sanctuary.
One home is in escrow and listed at $9,998,880.
In 2015, only one home sold for $5.7 million; the sellers at the time picked up the unit as an REO in 2014 and flipped it after a year with a nice return on their investment. It fronted the 12th fairway of the Wailea Blue Course, it was a 4,225 sqft, single level, 3 bed, 5.5 bath, with panoramic ocean, outer island & sunset views.
Magical sunset views from the Wailea Highlands
At the moment, there are three active Wailea Highlands listings for sale representing an inventory of $24,195,000. The average asking price for a home is $8,065,000; with this number in mind, it puts into perspective how much of a deal 4378 Melianani Place was.
Contact a South Maui Real Estate Specialist
Please consider me to be your trusted Maui real estate and lifestyle adviser. 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. Don’t hesitate to call me for your any of your Maui real estate needs as I would be honored to assist you in your home search.
Aloha,Anthony Sayles R(S) 808-280-6532 Anthony@DanoSayles.com