Yesterday, on May 1st, Wailea Palms 3706 closed for $808,000.00. Wow! You truly got yourself a deal, congratulations! It doesn't matter where in the Wailea Palms you are located, all units are in comfortable walking distance to what I call, hands down, "the best pool area of any Wailea Condo". Look at that view!
Wailea Palms 3706 is an upstairs 2 bedroom, 2 bathroom unit with 1194 square feet. It has the most popular B-plan and is, to date, in pristine original condition. The lanai offers quiet ocean and West Maui mountain views over the copper rooftops of neighboring Papali Wailea. With an almost northern direction, one can enjoy the partially covered lanai nearly 24/7, unlike the units oriented straight west and south. For the very best sunset views, all owners in Wailea Palms are generally visiting the spectacular pool location. Here is the latest Sales Report for Wailea Palms.
Pretty much seven years ago, in April of 2008, I sold this unit, Wailea Palms 3706 for $930,000.00 for the first time. As this sale demonstrates, Maui Real Estate is not a place for real estate investment. While there are always opportunities at any given time in the Wailea Real Estate and Wailea Condo market place, you should be buying here because you truly enjoy Maui. My sellers did and so do I. I am NOT selling investments! If you need a reality check and want to know what your South Maui Condo or home is worth, feel free to contact me for a free analysis.
Are Maui Real Estate prices going down?
The short answer is "no". Nevertheless, with New Developments getting ready for construction in the near future, one needs to clearly understand the difference between vacation rentals and none-vacation rentals. In addition, it helps to get information on where the Wailea Real Estate and the Makena Real Estate markets are heading. That could make for an interesting coffee store conversation, right by my office :) I am always up for a skinny latte, and you?