Wailea Ekahi 43B was just brought to market last week and is sprinkled with upgrades throughout while other parts of the unit has been left original. Offering a total of 885 sqft, 1 bedroom, and 2 bathrooms, the unit is an open concept layout with tile through most of the unit which makes easy maintenance. There is a built in murphy bed in the living room that is ideal for accommodating guests or for adding extra sleeping room if rented out as a short term rental.
With an outdoor lanai off of the main living room of the unit, the large glass doors allow for plenty of natural light and a seamless flow of indoor and outdoor space. The unit is booked pretty solid, so it might tough to get in for a showing; on the other hand, the strong rental demand is a good sign for buyers.
Listed at $949,000
Spring Closings at Wailea Ekahi
Wailea Ekahi 37D was an upstairs unit with vaulted ceilings that made the unit live a lot larger than the 952 sqft the floor plan lists. Upgraded with 3 different remodels over the years in 1999, 2011, and 2017, they have all been able to create a seamless blend of different designs. Building 37 is on the north side of the complex, perched above the rest of the units with great views from its higher elevation. The unit was owner occupied since 1985, so there was minimal wear and tear over the years.
The unit was listed in early September of last year in the mid 800’s and underwent 1 price reduction before it garnered some serious interest. The unit sold for $90k under asking at a final close price of $760,000 after a 4 week escrow.
Although the pictures of Wailea Ekahi 42B are of not the best quality, do not be fooled by what they indicate. This unit has also been owner occupied for its entire time and has not undergone any renovations over its 40+ years; pride of ownership is evident as it has been meticulously cared for. The lack of wear and tear of the years is due to its non existent use as a vacation rental. The biggest draw of the unit is the oversized lanai of 228 sqft which adds 20% more of living area.
Listed early this year in January, the unit only needed 5 days before it was able to enter escrow. The unit even sold for above asking at $800,000 flat.
2018 Wailea Ekahi Market Update
The Wailea Ekahi market has been experiencing a strong start to the year with 5 units already sold through the first 2.5 months of the year; however, the sales at Wailea Ekahi is still of the pace by 2 compared to the same time last year. The 5 units sold were met with strong interest as 3 units were able to find new buyers within 90 days of being listed, while the 2 other units needed less than 6 months.
Of the 5 units sold, 60% of the units sold for under $800k which can be considered on the lower ed of the market. On the high end, 1 unit sold in the $1.5 million range and another sold for just under $2.2 million. Units at Wailea Ekahi are valuable in the short term because they can generate cashflow, while in the long term it hopefully builds equity.
- Number of Wailea Ekahi units sold: 5
- Average sold price: $1,191,000
- Highest priced unit sold: $2,195,000
- Lowest priced unit sold: $675,000
- Number of units in escrow: 1
Wailea Ekahi has a staggering $21.5 million in inventory volume. The majority of units for sale are on the upper end of the market with 11 units priced above the $1.1 million mark and the remaining 5 listed under $1 million. According to the current listing stats, buyers can expect to pay at least $1000/sqft assuming the units sale for their list prices.
Half of the active listings have been listed within the last 90 days, while 1 unit has been listed for close to 2 years. With so many listings on the market, buyers have the upper hand and can easily substitute one unit for another if they aren’t getting the price they are looking for.
- Number of Wailea Ekahi condos for sale: 16
- Average asking price: $1,348,937
- Highest priced listing: $1,895,000
- Lowest priced listing: $739,000
Contact a Maui Real Estate and Lifestyle Specialist
Ho’olei villas, we are also currently the in house “Sayles” team at Ho’olei Grand Wailea
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