Makena Update - Significant Sale at One Palauea Bay

The Makena real estate market has proven to be resilient to fluctuations caused by the recession - posting the highest residential sale on Maui ever in the midst of the recession. As such, it is important to note the direction of the micro-market and in keeping our readers well-informed of any noteworthy sales, we'd like to announce the closed sale of 33 Ualei Place.

In One Palauea Bay, 33 Ualei Place was introduced on 01/31/2013 with an asking price of $9.4M, with an aggressive price adjustment to $8.6M proving to be the catalyst that motivated a buyer to act - with its sale closing for $8.15M on 04/29/2013. Congratulations to the new owner of this luxury Makena property and to Wailea Realty/The Wailea Group for orchestrating. Also take a look at the sale of a Makena Road property, closing at $8.2M two weeks after the closing of 33 Ualei.

Interestingly enough, this brings good perspective to the value proposition of our listing at 37 Ualei Place, which is listed for $9.595M currently. 33 Ualei Place offered superior build, quality, and lifestyle, selling for $2,002 per square foot. 37 Ualei Place offers more square footage (7,487 versus 4,070), a seemingly much preferred view corridor, and arguably a comparable quality of build - offered for $1,281 per square foot.

We know the Makena real estate market intimately well and can represent our clients in the sales/purchases of Makena luxury homes, contact us for details regarding these luxury properties.