Our newest Wailuku listing, 705 Papua Street is an absolutely charming single-level retreat in Nanea at Kehalani. Once you walk through the front door and experience the immediate tranquility and sense of ownership, you will begin to appreciate the seller’s pride ownership. At this time, this is the only home for sale in the entire Wailuku community where there has only been 1 home sold per year over the last 6 years.
Offering a terrific layout with 1500+ sqft, 3 bedrooms, and 2 bathrooms, the home has only been elevated over the years with the most recent remodel being completed in 2015. With slightly vaulted ceiling, the extra height adds another dimension to the home and creates an open floor plan. The back of the house has a concrete slab that is as wide of the house and offers a partially covered and uncovered lanai. The indoor/outdoor living arrangement makes this home the perfect place for entertaining and enjoying Wailuku’s marvelous year round climate.
Only brought to market a few days ago, we have the property priced at $699,000.
Located on a quiet street in a peaceful neighborhood, this property is very convenient to central Maui’s great shopping, businesses, restaurants, and the Kahului Airport. The great room is a lovely area to relax and entertain friends and family. Beautiful marble, travertine tile and carpet flooring throughout the residence lends an air of modernity and elegance.
The leased PV System makes electricity at a nominal monthly cost. This home features a chef’s kitchen with high energy efficient stainless steel appliances. Inspired by the Hotel Wailea Relais and Chateaux, the master bathroom is seriously epic. You really need to see it in person to appreciate the quality. The manicured lawn and tropical landscaping in the back yard of 705 Papua creates a true sense of privacy and serenity.
Wailuku Market Update 2018
Since the start of the year, the Wailuku market has seen a consistent amount of activity and has been able to achieve a running sales volume of $56,393,706. Interestingly, the 1st quarter of the year saw more than 66% of the sales through May with January being responsible for a large portion of that percentage. A little over 40% of the Wailuku homes sold were able to find buyers with 3 months of being listed. Wailuku is a very popular market because of its central location and cooler temperatures.
Wailuku’s barrier to entry may not be as high as some other areas like Upcountry or South Maui; while the upper end of the market tends to max out at about $1.4 million at the highest. Less than 4% of the homes sold in Wailuku even broke the $1 million barrier; most of of the sales are concentrated in the $500-$700k range. Buyers should expect to spend around $300-$550/sqft depending on which part of Wailuku they are buying in.
- Number of Wailuku homes sold: 93
- Average sold price: $606,383
- Highest priced home sold: $1.3 million
- Lowest priced home sold: $271,100
While the for sale figures drastically differ than the sold numbers, the inventory for sale is currently favoring the higher end of the market. There are currently 9 homes priced in the $1-$1.5 million price point, while there are only 5 homes priced under $500k.
In a tight market with only 58 homes for sale, a home that is priced aggressively will attract attention rather than sit on the market like some of the homes are. The longer homes sit on the market, the riper they are for a below asking offer. Over the last month, 21 homes have come to market, all of which are all over the price spectrum.
With home coming to market at least every other day, the best way to stay up to date is with our Wailuku new home listing alert.
- Number of Wailuku homes for sale: 58
- Average list price: $812,468
- Highest priced home for sale: $2.2 million
- Lowest priced home listed: $382,500