We first brought Ho’olei 81-1 to market in early February and was met with immediate interest! Part of the huge demand for the unit was driven by the unique fusion of tropical beauty and luxury lifestyle in the most sought after South Maui vacation rental community. Aside from featuring the largest floor plan offered at Ho’olei, this town home is unique to other residences due to its favorable location above the lush tropical pool and fitness facilities
While located near the heart beat of the community, privacy has not been sacrificed and, in fact, the surrounding landscaping, lighting and tumbling waterfalls delightfully come together to create the quintessential Hawaiian ambiance. With sprawling outdoor spaces on the 1st and 2nd floors, the subtle waterfall tones and tiki torches enhance the outdoor area.
We actually represented the sellers a few years ago when they initially bought the property and were delighted they gave us the opportunity to represent them again.
After 2 days on the market and close to an 8 week escrow, we closed for $3,250,000.
2019 Ho’olei Market Update
So far in 2019, 4 units have been sold for a running sales volume of $12,750,000. 100% of the units sold have been for $3 million or more, setting strong comps for the rest of the year. All of the units sold can be considered to be in the upper price point of the community.
2019 will be an interesting year for Ho’olei as sellers are excited by the recent activity, while buyers will be eager to secure a deal before they miss out on a unit they like.
- Number of Ho’olei condos sold: 4
- Average sold price: $3,187,500
- Median Sold price: $3,150,000
- Highest priced Ho’olei condo sold: $3,450,000
- Lowest priced Ho’olei unit sold $3 million
- Number of units in escrow: 0
For a better idea of how the Ho’olei market has been playing out in recent years, check out our 2018 Ho’olei Year In Review report.
With only 4 units for sale, buyers should understand there is competition in the market with mostly upper to middle tier units for sale.
Referring to the strong sales in the $3+ million price point in 2019, buyers should be ready to move on a property before missing out on it entirely. 50% units sold in 2019 were under contract within 2 weeks of their list date.
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: 4
- Average asking price: $3,043,500
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)