Andaz Residences Wailea Villa E-1 Sold

Posted by Alex Cortez on Sunday, February 15th, 2015 at 11:26am.

andaz wailea villas

Picture above is of Villas B & C 

The introduction of Andaz Maui brought much excitement in the Wailea real estate market when it was announced that a number of Fee-Simple ownership opportunities would be offered - at the time there was much speculation as to the number, but 12 units were announced. These luxury villas are newly built, incorporate modern touches, offer five-star resort amenities while maximizing the splendor of the natural surrounding, with one of the best beaches in the world as its backyard.

The symbiotic relationship between the hotel component of the property and the privately-owned villas offers a very unique value proposition. Such a unique value coupled with lower absorption in the higher-end niche of the Maui condo market over the past year (save for the Montage Residences) has resulted in some premium villas selling quickly while the others remain available for sale. 

As such, it is noteworthy when one of these luxury villas sell. On February 13, the sale of Villa E-1 closed for $4.38M. Offering 2,644 square feet of astonishingly well-appointed feet of interior living space among 3 bedrooms and 4 bathrooms, the sale at $1,656 per square foot bodes well for the Wailea condo market. With such a unique value proposition, it becomes more difficult to use 'comparable' sales a basis for fair market value, pending pertinent adjustments. The recent sale of Wailea Beach Villa C-101, however, offers a very good 'apple to apple' comparison. Selling on January 30th, for $3.8M, the 3 bedroom / 3.5 bathroom Villa sold for $1,315 per square foot (with 2,889 square feet). Is E-1 at Andaz worth 26% more than WBV C-101? When taking view corridors (direct ocean views versus garden views), age (2013 versus 2005) among a myriad of other variables, it is arguable that yes, the Andaz Residences Wailea under the current pricing offer one of the strongest value propositions among Maui luxury properties island-wide.

andaz villa floor plan

Contact

For those considering the purchase of a Wailea luxury property, contact us. Our team offers a wealth of Wailea area expertise and can answer any questions related to the current properties for sale.

Please provide a valid email address.

Disclaimer:  Andaz Residences Wailea is exclusively represented by The Wailea Group, LLC. Island Sotheby's International Realty may represent you as a Buyer's Agent.

 

Specializing in Makena and Wailea real estate, Alex Cortez is fully dedicated to representing his clients ethically and diligently. Contact him at 808.385.5034 or Alex@MauiRealEstateSearch.com for more information.

Leave a Comment