When we brought this unit to market, we were absolutely excited about what it had to offer. Wailea Point 1403 is an absolutely breathtaking oceanfront unit that offers direct access to one Wailea’s most popular beach and walking paths. Located among among some of Wailea’s most desirable oceanfront real estate, this villa stands out for a variety of reasons: 1. its proximity to the ocean; 2. quality of the villa itself; 3. gorgeous ocean views; 4. endless outdoor entertaining options; and the 5. unmatched lifestyle opportunities.
The home is in original condition and was sold as is, bu the villa is essentially a blank canvas for the buyers to create their own piece of paradise. Totaling 2559 sqft of interior living, 3 bedrooms, and 3 bathrooms, the unit is well laid out to emphasize the indoor/outdoor living that the Wailea lifestyle demands.
The highlight of the property is the 700+ sqft of outdoor lanai space that is ready to be turned into the ultimate indoor/outdoor living arrangement. Just steps from the villa is one of Wailea’s premier walking paths and little coves for your own private enjoyment.
Sold for $3.5 million, come see what awaits at Wailea Point.
Wailea Point is a low density, meticulously landscaped property that includes numerous amenities – 3 swimming pools, a lap pool, 2 spas, a fully equipped fitness center plus lighted tennis, paddle tennis and pickleball courts. Fine dining is a short stroll away at the Four Seasons and Fairmont Kea Lani resorts. Wailea’s renowned golf courses and The Shops at Wailea are also just minutes away.
Wailea Point Market Update 2018
Wailea Point market has seen a solid year with 7 units sold worth a running sales volume of $20,050,888 and can improve upon that number with 1 more unit sitting in escrow. 2018 saw slow start with no sales in January, but finished the 1st quarter with 3 sales as interest increased towards the end of February and early March. The spring busy season was fruitful for Wailea Point where is saw 3 more sales between the months of May and June. Since then, the market has cooled a bit again and our closing above has been the only action over the last 3 months.
Considering the price point, it is impressive to see that 100% of sales in 2018 were able to find a buyer within 9 months of coming to market. With the exception of 1 sale in the $1 million price range, the remaining sales have been in the middle market of around $3-$4 million. Due note that the one unit sold in the $1 million range is absolutely unheard of and was a great opportunity to get into the community for well under $2 million. Interestingly, the $4 million price point has been very productive with 2 units sold, while the $3 million range has been the most productive with a bulk of the sales.
Buyers should certainly expect to a pay premium for their unit with price/sqft ranging anywhere from $1000-$2000.
- Number of Wailea Point condos for sale: 7
- Average asking price: $2,864,412
- Highest priced unit for sale: $4.1 million
- Lowest priced unit for sale: $1,250000
At this point in time, there is just under $30 million worth of inventory available on the market. For the most part, each price point is well represent with 3 listings in the $2 million price point, 2 in the $3 million range, and 2 in the upper part of the market at $6+ million. It is certainly not cheap to buy into Wailea Point, but that is the main reason buyers like it. The steep barrier to entry ensures there are only a handful of potential buyers that can afford not only the sale price, but also the monthly maintenance fees.
Although rare, some owners have chose to buy 2 units and combine them into one large one, but are still on the hook for paying two maintenance fees, one for each unit. 6 out of the 7 units for sale have been listed for longer than 6 months, however, only 1 unit has been listed longer than a year. No new listings have come to market in the last 3 months.
Based on these current listings, buyers should expect to pay around $1500-$2500/sqft.
If none of the units catch your eye, stay up to date with our Wailea Point new listing email alert.
- Number of Wailea Point condos for sale: 7
- Average asking price: $4,056,982
- Highest priced unit for sale: $6,998,880
- Lowest priced unit for sale: $2,250,000
Contact a South 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 in South Maui 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