Oceanfront Sugarman Estate: 7750 Makena Road
Brought to market last year in the middle of December, the unit was priced at a cool $19.9 million. Over its time on the market, the unit did not receive any price reductions. The unit entered escrow about 3 weeks ago and after an expedited escrow of 2 weeks, the property closed for $13 million. The property includes 3 different TMK parcels and is a prized property across the Makena real estate market.
3 acres of some of the most coveted Makena Real Estate, the Sugarman Estate is an iconic South Maui location. It is known throughout the world for its gracious lawnscapes and a Spirit of Aloha that permeates every detail of your Maui wedding or event. A blue carpet of Pacific beauty stretches from the shores of the Honua Kai Lani, to the islands of Kahoolawe, Molokini and beyond. Sunset weddings at Maui’s Sugarman Estate are almost too amazing to describe with words. Honua Kai Lani, meaning Earth – Sea – and Sky, captures the experience.
Residential Makena Market Update
The Makena residential real estate market is a very prestigious market to get into with minimum barriers to entry hovering at around at least $4-5 million. Makena homes tend to be more secluded with an emphasis on privacy and command larger tracks of land than Wailea homes for sale.
This year to date, there have only been three homes sold (including the Sugarman estate above) for an average sale price of $8,633,000.
- 7299 Makena Road was a 10 acre estate that was on the market for over 4 years before an interested party was ready to pull the trigger, it finally closed for $7,000,000. The property itself boasted 5 acres landscaped with ponds, manicured grass, stone walls, and two pole houses: main house 3100 sq. ft. inside plus 3000 sq. ft. decking outside, 4 bedrooms with 5 bathrooms; and caretakers cottage 1190 sq. ft. 2 bedrooms with 2 bathrooms.
- 5415 Makena Road is a 4 home gated residential condo community fronting Maluaka Beach and is named Makena Sunset for the sunset views from the community. Each home consists of approximately 4,200 Square feet of interior living space with 4 bedrooms 4 full bathrooms and 2 half baths. The master suite and kitchen are on the main level and the 3 guest bedrooms are located on the lower level. There is also another 1,150 Sq. ft of outdoor covered lanai space with a built in BBQ area. The first lot sold for $5.9 million, $1.9M under asking price.
At the moment, there are 9 active Makena homes for sale representing an inventory of over $100 million. The two lowest priced homes for sale are the Makena Sunset units and are not representative of the typical Makena estate because of their residential condo classification. The average asking price for a home in Makena stands at $12,179,222.
The lowest priced residential home in Makena is listed for $9,450,000. This gated estate encompasses over 2.3 acres of immaculately cared for grounds. The interior decor of the home is both comfortable and tasteful. The residence also features 2 spectacular master suites, with a total of over 5000 square feet under roof.
The highest priced home for sale is priced at $21,500,000. It is a rare opportunity to own a brand new, custom Smart Home on one acre in exclusive, majestic Makena with panoramic ocean and Haleakala views. Luxurious and modern, no detail was overlooked in this magnificently designed estate home. The highest quality materials and craftsmanship were used to create this one of a kind, state of the art home with 4 ocean view en-suites.
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