February 2014

Found 4 blog entries for February 2014.

REO's (foreclosures/bank-owned) in the Wailea / Makena real estate market have been a comparatively minimal aspect of the overall market as there have been very few (count them, a total of 9) REO's that have ever hit the market. And none of them have been in the upper-tier subdivisons. That is, until now. 

255 Noho Like Way has just been listed for $5.5M by Wailea Realty, thereby making it the highest-priced REO in the history of Maui. Offering 4,225 of interior living space, it is an exceptional home in arguably one of the most exclusive subdivisions on Maui. And with almost 1,000 square feet of covered lanai, the indoor / outdoor fusion is made seamless by the disappearing glass walls. Terraced high over the Wailea Blue Course, Wailea Highland is

With the micro-market at Honua Kai setting a scorching-hot pace through the past 18 months, both in terms of sustainable value increases and absorption rate, it came as no surprise that the developer announced prices will increase.

Since the announcement on February 10th that 14 units will be increased in priced effective February 28th, 9 of those subject units have already gone under contract. For those who have speculated that prices would dip reflective of a weaken Canadian dollar or that the absorption rate was unstainable, that has proven NOT to be the case. From anecdotal experience, we have been seeing well-priced units going into escrow quickly and the list-to-sold ratio continues to be among the strongest of any micro-market in West Maui.

For those who have been watching the evolution of the former Renaissance Hotel into the new luxury Andaz Maui at Wailea, it comes as no surprise that the luxury hotel has been named among the world's best. Travel + Leisure Magazine named the new entry to the Wailea resort to its 2014 'It List', which features the best new hotels in the world - from Lima, Peru, to Iceland, and everything in between.

Since its debut in the fall of 2013, the Andaz Maui at Wailea has been thrilling guests with its ever-so-natural approach to modern luxury resort living while maintaining a symbiotic relationship to the local environment - and let's face it, Maui has one of the world's most amazing settings. With a farm-to-table concept of culinary mastery, guest

As we have been noting on previous market reports, the Maui real estate market is experiencing continuing valuation increases across virtually all micro-markets. And in keeping a diligent eye on the South Maui luxury real estate market, there is a sale that bears closer examination.

Mana Kai 309 sold for $1.2M on February 13 after a comparatively short escrow, indicative of a motivated buyer anxious to close the deal. Although at first glance it may not seem as noteworthy, it is reflective of micro-market that is gaining sustainable momentum. Mana Kai is a beachfront property on the world-famous Keawakapu Beach and is an iconic condominium in its own right. Although values saw a dip during the recession, recent trends point to a healthy niche. In