Ho’olei Villas Sold by the Sayles Team in 2018
With 7 Ho’olei condos sold in 2018, the Sayles Team was happy to participate in more than 70% of the sales in 2018. In particular, we were strong the list side where we represented 5 of the 7 sellers in the listing of their unit. .
Our consistent presence in the community makes it easy for the team to develop personal connections with the residents and enables us to work closely with Ho’olei staff responsible for running the short term rental aspects. It is our 10+ years of experience the community that make us the go to Ho’olei experts.
Our Ho’olei Real Estate Information office within the Ho’olei complex allows the team a unique location in which we can take advantage of being on site 7 days a week. We always have representatives standing by to assist any walk ins or scheduled meetings.
Listing top row units can be tricky because some buyers will value the ocean views more than the next buyer. Ultimately, we decided to bring the unit to market at $3.25 million. Our sellers stood firm on their price and were eventually able to close for $3,175,000.
After about 2.5 months on the market, our sellers received an offer they were willing to accept. After a 6 week escrow, we are proud to say we ended up closing for $3.15 million.
Ho’olei Vill 39-4 was listed in the summer of 2017 and is the coveted plumeria floor plan which allows it to site the most forward in each building cluster. Sitting in the middle of the complex, the unit is in an ideal location to the community club house, pool, and work out room. We were able to secure our sellers a final sale price of $3,212,500.
Priced under $2 million, we were eager to help our sellers get the best deal possible. With the ability to be rented out as a short term rental unit, it’s an invaluable feature that so many buyers appreciate. The potential rental income and reduced list price made this unit a very desirable investment opportunity or a chance to get into the Wailea resort for a cut price. In the end, our sellers agreed to a final sale price of $1,750,000.
Ho’olei 93-2 was an interesting deal because the villa was never actively for sale on the open market or listed in the MLS for the public to see. Many of our clients are extremely private people and value their privacy; some clients choose to not publicly list their properties for a variety of reasons. Sold for a final price of $2,070,000.
Part of the reason why we have been so successful in facilitating off market deals is because of our initiative to create and actively manage our Private Collection by the Sayles Team. It has been established for close to 3 years and we have seen very strong results in terms of helping connect sellers and buyers.
Top row Ho’olei unit sold through the Private Collection
The whole intent behind the Private Collection it not just to find a purchaser, but rather to create a strategic marketing plan catered to our seller client’s individual needs and specific timeframes. We shoot for quality and well qualified buyers, so our buyer pool a much smaller and a sophisticated audience of potential purchasers.
Our implementation of the Private Collection by the Sayles Team has helped facilitate a few deals that otherwise would may have never been put together.
2018 Ho’olei Market Update
The Ho’olei market has been experienced a decent year in 2018 with 7 villas sold for just under $18.5 million in total sales volume. Compared to 2017, 2018 has seen the same number of transactions, but around $1.5 million less in sales volume.
2018 got off to a slow start with no units sold through the 1st quarter of the year, then saw 3 quick closings in the month of April. Only 1 unit was sold in the summer, however, sales have picked up again in September with 2 closings and 1 in October to round out the year.
In 2018, it was the upper part of the market that has been most dominate with 4 sales crossing the $3.1 million mark. The next most heavily represented price point was the $1 million range with 2 units sold. The least represented price range was $2 million which is interesting because it is usually the most heavily represented price range.
In terms of price/sqft, the range was all over the board; on the low end, one buyer paid as low as $670/sqft while on the upper end another buyer paid close to $1300/sqft.
For a complete rundown of the market, check out our set of Ho’olei sales date since 2008.
- Number of Ho’olei condos sold: 7
- Average sold price: $2,634,642
- Highest priced Ho’olei condo sold: $3,212,500 (represented the sellers)
- Lowest priced Ho’olei unit sold $1.75 million (represented sellers)
- Number of units in escrow: 2
With only 3 units for sale, buyers do not have the luxury of being able to be picky if they are seriously interested in the complex. At this time, there are only upper tier units for sale with $2.85 million being the lowest barrier that you can get into the community for. Prices at Ho’olei can vary dramatically based on location, view, level of finishes, and rental history. Ho’olei are popular for investors because of their ability to generate cashflow. Buyers should expect to pay anywhere between $800-$1450/sqft.
When inventory is this low, we always recommend our clients stay up to date with our Ho’olei new listing email alerts. The alerts can be customized to any criteria including single family homes and condos. If you need assistance in setting up this feature, we would be happy to do so!
- Number of Ho’olei condos for sale: 2
- Average asking price: $2,348,000
- Highest priced Ho’olei condo for sale: $3.25 million (listed by the Sayles Team)
- Lowest priced Ho’olei unit for sale: $2.5 million
Contact a Maui Real Estate and Lifestyle Specialist
If you’re interested in learning more about our private collection of listings, please contact our team for more information. We specialize in the most exclusive Maui Real Estate including the Makena Wailea resort areas. Our team of exceptional agents are ready to find you your perfect Maui lifestyle property. We respect your privacy and look forward to connecting with you soon. Mahalo!
Anthony Sayles R(S)