Grand Wailea Price Reduction – Another Ho’olei Villa in Escrow

It is my contention, that for many buyers of Maui luxury resort property, Ho’olei represents the best value on the island. It has location—right across the street from The Grand Wailea—with easy access to spectacular Wailea Beach. It has size and presence; units are 2,600-3,100 square feet, all 3-bedrooms, and 3.5 baths, many with ocean views pouring into their upscale living areas.

But what is sending most buyers over the top—our team has closed a remarkable 9 sales this year, with two more in escrow—is the symbiotic relationship with The Grand Wailea. Owners, and their personal guests, are eligible to use the facilities at The Grand, one of the world’s finest hotels, and known throughout the islands for its exhilarating water park, covering nine pools, and a very cool slide and swing.

Staying in Wailea is always a treasure, but for many families (and couples), the Grand Wailea’s water park and pool area, ocean front gardens, and world class spa facilities are high points of the family vacation.

The Grand incorporates these privileges into ownership through the Kulana Club. A complimentary membership is included in every developer unit sold—10 remain, of 120—and often included in deals made on secondary-market units.

Followers of this project may recall my last Ho’olei blog post, in which I predicted an immediate market response, a few weeks ago, when Ho’olei unit 93-6 was reduced $200,000 to $2,295,000. That price point is very much in line with the most recent closings in a unit that was a superior value. In my opinion, the reduction brought the unit into my radar as the best value on the property, developer, or privately offered.

The unit went into contract a few days after my blog was released.

The newest heart-throb in this incredible development is unit 55-4 (MLS# 345369), a second-row unit near the pool that I expect will sell quickly, somewhere between $2,150,000 (the most recent closing price, a month ago in a smaller unit, same row), and the asking price, $2,300,000. The views and location are tough to beat for the money.

On the higher end, I really like unit 112-6 (MLS#343298), a top-row Hibiscus floor plan (3,076 sq. ft.) with massive views. It’s a privately owned unit, listed at $2,750,000.

Wailea Luxury Property Snapshot

• Ho’olei Hibiscus, (MLS# 343298), 3 bed/3.5 bath (3,076 sq. ft.)—6 listed, $2.5-$3.1M
  
• Wailea Beach Villas, (MLS# 345495), 3 bed/3.5 bath (2,000-3,000 sq. ft.)—4 listed, $3.3-$5.9M
• Wailea Point, (MLS#345340), 3 bed/3.5 bath (2,400-2,900 sq. ft.)—3 listed, $3.1-$4.1M

Stop by The Grand Wailea, and talk real estate with Kevin Spaise, author-publisher of The Maui Condo Book, the ultimate reference source used by Maui realtors, brokers, and real estate professionals. Or, schedule a private tour of Ho’olei (and other properties) at (808) 344-0624.