The number of active listings on the Maui MLS for Wailea condos just reached 25 which is the highest inventory we’ve seen since May 2021. This is great news for buyers who have been waiting for the right signal in the market and we’re here with all the info on Wailea communities with new listings and some analysis of where prices are headed.
Chart of available Wailea condos by month
In the years before the pandemic, it was normal to see between 60 and 90 active listings for condos in the Wailea/Makena area. As you can see from the chart above, the low point for inventory (i.e. properties available for purchase) was back in September 2021 when we counted with one hand the number of listings in Wailea. Now, in August 2022, we are showing three straight months of increases for the number of available listings which is a significant trend.
Wailea communities with available condos
There are several condo communities in Wailea that have three or more active listings. Here’s some info and commentary on what’s available in three popular vacation rentable complexes in Wailea…
There are 6 units for sale at Wailea Ekolu with prices starting at $1,399,000 for a ground floor garden view unit and going up to $2,695,000 for a prime location unit with ocean views. The average listing price is $2,028,167 and the asking price per square foot is currently $1,904.46/sqft. Be sure to check out our updated list of all the Wailea Ekolu condos for sale.
Wailea Point has 4 units on the market ranging from $6,495,000 up to $20 Million for a premium direct oceanfront unit. The average asking price is $10,123,750 and the price per square foot is currently $3,457.15/sqft. View all Wailea Point condos for sale.
There are 3 units for sale at Wailea Beach Villas with prices starting at $7,795,000 for a 3 bedroom unit in the Penthouse building. The highest price is $12.75 Million for Unit G301 which is located in one of the Villa buildings. Average asking price at Beach Villas is currently $10,181,666 and the price per square foot right now is $3,937.85/sqft. See all three Wailea Beach Villas condos for sale.
Where are Wailea prices headed?
The average asking price per square foot in Wailea is up 26% from last year and has remained above $2k/sqft for 5 consecutive months. As we mentioned in our past article, the shortage of available condos coupled with high demand definitely caused prices to go up significantly everywhere on Maui. The small rise we see now for the number of available condos in Wailea is good for buyers in terms of offering more variety but it does not mean that prices will be coming down anytime soon.
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