Papa'anui 5147 Makena Rd, Wailea/Makena
MLS® # 401349
Posted by Alex Cortez on Friday, July 24th, 2015 at 12:47pm.
Year over year, the high-end sector on Maui is enjoying significant growth over 2014 - which many saw as an 'off' year in the luxury sector of Maui real estate. But the growth and extent to which this niche has exploded this year has been uncharacteristic and unexpected. As such, the record-breaking sale of the subject Makena luxury home for $41.775M has raised many eyebrows due to its significance and unparalleled value.
The subject Keauhou at Makena luxury estate was NOT listed for sale on the Multiple Listing Service and although we have seen it from a distance being built over the past few years, very little information is factually known about the home or its owners. As per public records, the property consists of a single-level 6,737 square foot 4 bedroom home built in 2011 and a 1,004 square foot 2 bedroom Ohana, atop 4.23 acres. With Keauhou's slopping terrain and this homes high elevation, it is fair to expect that the view corridors will be commanding and unobstructed, while the size of the parcel will provide significant privacy for the owners and guests. Public records lists Project 251A LLC as its new owner. The previous sale of this property was for $5.25M in 2008 - for the land only, as there were no structures built yet. It may be of interest to potential Makena home purchasers that the home directly next door, 4482 Makena Alanui Road, has been listed for sale with an asking price of $13.4M - contact us for context regarding valuation and its overall place within the Maui luxury home micro-market.
The previous record-holding sale was the 2011 sale of 7150 Makena Road for $27M which was reported to have been sold to Peter Thiel, the co-founder of Paypal. The only other sale reported to the Maui MLS over $20M is 3090 S Kihei Road in December 2012 for $23M. Of course, both of these homes are beachfront on arguably some of the most desirable real estate in Hawaii, while the recent sale is across the street from Palauea Bay, in the prestigious Keauhou at Makena subdivision.
Serving the Wailea real estate market and with a keen understanding of current Makena homes for sale, our team is well positioned to represent buyers and sellers in the master-planned resort community and surrounding area. For a private consultation, fill out the form below or call 808-385-5034.
The Makena luxury real estate market has always been a much sought-after area of interest for the world's leading dignitaries and entertainment stars, including Clint Eastwood, Peter Thiel, Jennifer Aniston, among many others. Take a look below at Makena properties currently for sale and contact us with any questions.
MLS® # 401789
MLS® # 399939
MLS® # 400364
MLS® # 401355
MLS® # 400245
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.
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