Today's question comes from a client interested in Wailea real estate.
Question: On this last visit, we noticed a lot more construction in Wailea than in years past, can you give us a breakdown of what is going and where? Will there be new options for us?
Answer: You are absolutely correct. The past year has brought on a significant amount of new construction. As this is well within our sphere of expertise, we are well acquainted with the status of new projects and would be happy to answer any questions from interested parties. Below is a brief breakdown of the most significant projects that will redefine available inventory within their respective niches and a map is below with highlights.
Keala O Wailea - Interest in this property has been VERY strong. Originally 'The Bluffs' were to have been developed on this property (if my recollection serves me right, the sign is still up - but I'm getting old and my memory fails me more often than I'd like to admit) but the new project will better serve the Wailea community. A total of 70 units across 7 buildings, evenly spread. The lower two levels of each building would have 4 units per floor and the third level presumably will have two 3 bedroom units. It has been described as an 'affordable Wailea offering'. Overlooking the golf course, most units will have impressive ocean view corridors and enjoy the community center with pool, fitness center, free-form rock pool Developed by Alexander & Baldwin and Armstrong Builders. The resort living experience is enhanced by Keala o Wailea's location - directly next to the Wailea Gateway Center (home to one of the most popular restaurants in Wailea: Monkeypod Kitchen), up the road from The Shops at Wailea, world-class beaches, and everything that Wailea has to offer. Keala O Wailea.
Makalii at Wailea - For as long as I've been involved in the Wailea real estate market, one of the first questions I am asked by prospective buyers is 'What is going to go on across from the Fairmont Kea Lani?' and now there is a clear answer: a few months ago the Maui Planning Commission issued a Special Management Area Use Permit. Although there is not definitive time for construction and sales, the developer is finalizing designs, which are said to reminiscent of 'California in the 50's' with added use of glass to maximize light and view corridors and a generous use of native plants. The topography is terraced, which will enhance each unit's view corridors while PV's will make the property as a whole energy efficient.
A total of 17 clusters will be strategically located throughout the 9.3 acre property, with each structure consisting of 4 individual units. Each unit will have two levels, with the entrance on the main level where the bulk of the square footage will be (kitchen, living area, bedroom, etc.) and the master suite on the lower level. Of the 68 units, 66 are proposed to be three-bedrooms units, and the remaining 2 being two-bedroom units - THIS IS YET TO BE CONFIRMED - and some units would have a 'Casita'/Ohana element. Short-term rentals would NOT be allowed and the build-out is estimated at approximately 36 months. Makali'i at Wailea.
Hoku O Wailea - Kai Malu proved to be a very strong value proposition in Wailea filling a big void in demand and now the land adjacent to it (west) is set to be developed. The proposed project will bring in a total of 75 units, evenly distributed on 15 three-story buildings - although not confirmed, it is speculated that the first two levels will have 2 bedroom units while the penthouse level will have larger units. Each Hoku O Wailea unit will have its own garage for convenience and with its sloping terrain, most units should have fantastic, virtually unobstructed view corridors. Short-term rentals will NOT be allowed. Construction is believe to start after Keala O Wailea is completed, but that is speculation. Water meters have been installed. Hoku O Wailea.
Wailea Golf Estates - Driving on Wailea Alanui, it's hard to miss the construction currently underway at the Wailea Golf Estates. It is to add 16 more single-family parcels of 14,000 square feet each, on average. Site work started on May of last year and is expected to be completed in the foreseeable future. Keep in mind, these will be sold as vacant parcels and the build out of new residences will be dependent on when each lot is sold and, subsequently, when the new owner is able/willing to build - it would not be surprising if there are incentives for those who start construction first. Partial ocean views from most homes, with 15 of the 16 bordering the golf course. Water is via a massive 3 inch water meter, which is then to be sub-metered to individual owners based on usage.
Piilani Suites Hotel (also referred to as Residences Inn Marriott) - Built atop 6 acres adjacent to the Wailea Town Center, the Pi'ilani Suites Hotel will be part of the Marriott family of hotels. It is a 3 to 4 story structure featuring 200 suites, said to be more affordable than other hotels in the Wailea resort. Daily rates are expected to be in the range of $200-400 per night, attracting more inter-island travelers, families, and those seeking more wallet-friendly accommodations in Wailea. The land is owned by Alexander & Baldwin, while the hotel is being built and will be owned by R.D. Olson - who also built the Courtyard by Marriott in 2012 near the Kahului airport. For anyone who has driven down Wailea Ike Drive can attest, construction is on-going and drivers are advised to be cautious while driving in this area. Directly next to the soon-to-be hotel, there are two lots slated for future development: one is for 9 single-family residences and the other for 36 condos - no further information available at this time nor any reasonable speculation based on reliable info.
Wailea Blue Course - For those who have been visiting Maui for decades, it will be a bit nostalgic to have the clubhouse at its original location. Nicknamed the 'Grand Lady of Wailea', the Blue course is the epitome of golf at a time when "character defined the golf course". The new clubhouse and pro-shop are commonly referred to as the Shops on the Green. Moving the clubhouse at the end of 2014 also required the change in course layout - with the previous 6th hole becoming the 1st, and the previous 15th becoming the 10th. Construction is on-going as of the time of this writing, but golfers can access the clubhouse - afterwards, stop by Manoli's for a cold beverage and something to eat. More retail space is being added in phases, which may take 3-5 years to complete, as well as the parking lot being expanded. Landscaping is being implemented to safeguard view corridors and noise exposure from the parking lot to its Wailea Ekolu neighbor. The driving range is still in the plans, but no timeline as to execution. The Shops on the Green.
The Shops at Wailea - A big project that will have a significant impact on the quality of life/services in the Wailea area is the introduction of the first supermarket in the resort. Although there are convenience stores (Whalers General Store, ABC Store), the addition of a gourmet supermarket, complete with the a varied selection expected of a high-end market, will be a great value add to visitors and residents. Located on the Northeast corner of the property, it will be conveniently located for clients of Island Sotheby's Int. Realty. Keep in mind that the recent proposal of changing to paid parking will impact customers - although it has been said that the paid parking element will start in mid May 2015, there are petitions to change this.
Our objective is (and will continue to be) to provide our clients with the most updated, accurate information on which they can make informed decisions. For those interested in various opportunities in the Wailea and Makena real estate market, please don't hesitate to contact us - fill out the form below or call 808.385.5034
Disclaimer - The information above is for information/illustrative purposes only. Although every effort has been made to ensure the accuracy of the information contained in this site, complete accuracy cannot be guaranteed and independent verification must be conducted. The developments above are exclusively represented by various real estate brokerages The data on this site is provided only for informational purposes and are not intended to imply any authority or relationship with these properties, the developers, listing brokerages, or any other company associated with any of these developments.
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.