Real Estate Information Archive

Dano Sayles and The Sayles Team has just closed Ho'olei Villa 57-6, a resale villa in the third-row with the popular Hibiscus floor plan. The Sayles team found the buyer for this villa and put it under contract on the same day it was listed with the Sayles team.

Building 57, also referred to as the "J" building is in demand at the moment. Villa 57-6 closed for $2,340,000 on May 5th, 2010 and Villa 57-1 closed for $2,500,000 on April 16, 2010.

Dano Sayles has Villa 57-4 in the "J" building actively listed for $2,725,000.

If you would like an in-depth analysis of Ho'olei sales, please email me or call 808-870-4899.

Maui visitor numbers are the best in the state, according to February statistics from the Hawaii Tourism Authority. Maui visitor growth is up for the second consecutive month while visitor numbers are shrinking on every other island.

"Maui County welcomed 174,027 visitors in February, a gain of more than 7 percent compared with the same month last year. Every other county showed an erosion in the already weak traffic count, although small ones.

Maui island did even better with visitors who chose to stop at just one island, with those visits up 12.4 percent. Maui island's increase in visitors in February comes on the heels of a 2.4 percent increase in January. February marks the second consecutive month of positive growth in visitor numbers since December 2005." - Harry Eagar, Maui News article printed 03/31/2010

This information is certainly great news for Maui's Tourism industry but there are some additional statistics, unreported by the Maui News, that represent fantastic news for vacation rental condo owners: visitors statewide are choosing condo accommodations by a growing percentage! February 2010 visitors planning to stay in Hotels grew only 2.1% while visitors planning to stay in condos dramatically increased by 5%, compared to February 2009.

Occupancy is especially high for vacation condos in Wailea, the master-planned community that was recently selected as America's best place for a second home by Forbes Barron's Magazine.

A shining example of visitor statistics comes from Ho'olei, Wailea's newest community with 120 Villas located across from the Grand Wailea Resort and Spa. Ho'olei at Grand Wailea, which manages the vacation rentals of Ho'olei Villas, reports that March 2010 occupancy is up 238% from last year! March statistics complete the first quarter of 2010 with occupancy up 242% compared to the first quarter of 2009! This trend shows that a new luxury product in a resurging market may have greater profit potential.

Analysts are reporting signs of a turnaround in the price slump for Maui Real Estate, according to an article in the March 10 issue of Maui News.

Ho'olei, the preeminent community in Wailea, was prominently featured as a positive sign of the up-turn in the resort market...

"The Ho‘olei condominium project in Wailea came on line after the resort real estate peaked in the second quarter of 2007. Now, it appears prices may have bottomed out, according to Honolulu real estate analyst Ricky Cassiday."
- Harry Eagar, Staff writer for Maui News

Below are some highlights from the article written by Harry Eager...

Prices peaked in the second quarter of 2007 at $1.5 million and fell steeply to $1 million by the middle of 2009. Since then, they have stabilized.

And as prices have stabilized, transactions have soared, from about 125 per quarter to about 200 in the last quarter of last year.

Another sign that the market may be getting ready to turn is the appearance of bargain hunters. Whether you characterize them as thrifty shoppers, bottom feeders or vultures, Cassiday said he sees people with money looking around for deals.

Here is my Ho'olei Market report with perspective on notable sales:

On September 17 2009, Ho'olei 69-1 (I1) closed for $1,999,999.00, representing the lowest sale for third row condos at Ho'olei to date. In my opinion, this closing was literally representative of the bottom of the market in the neighborhood. In a period of just 6 months, the real estate market at Ho'olei has arguably recovered by roughly 20%, which is a very positive for the market in the greater Wailea/Makena region as a whole.

On Saturday March 6th 2010, Anthony and I listed 57-1 (J1), a developer Hibiscus villa in the third tier at Ho'olei. Within a period of several hours we received a purchase contract on the home, which was accepted by the developers shortly thereafter. After J1 closes in April, the sale will represent the highest closing at Ho'olei since September 2008.

I am so excited to share this great news with you. Things seem to be headed back in the right direction!

Barron's Magazine has selected Wailea, Maui as the best place in America to own a second home...

"One of the first master-planned resort communities in the nation, it's a balanced blend of understated gated communities, luxury resort hotels, three excellent golf courses, a tennis center and, of course, several crescent sandy beaches. Wailea has 500 single-family homes, and their views are stunning: lush, verdant hills, brilliantly blue ocean and, after the steamy sun showers, rainbows over the horizon." Full article

With such positive national media attention on Wailea, interest is surging for Ho'olei at Wailea. There are only 4 developer villas left which include membership to Grand Wailea's Kulana Club (with dues pre-paid for one year) which includes access to Grand Wailea Pools, Spa Grand whirlpool spa and steam and more!

I invite you to contact me for all the benefits of Ho'olei ownership.

With the slow months of September and October coming upon us, one could assume the fast start we got on this year might be slowing down a bit.  However, out of the 11 properties currently in escrow in the Makena/Wailea area, 5 are located at Ho'olei!  Furthermore, only 7 of those properties are over $1 million dollar deals, with Ho'olei representing 5 of them.  Since there's only 8 developer listings left, I want to make sure anyone contemplating purchasing has an opportunity to view these amazing units!  All three floorplans-the Hibiscus, Maile, and Plumeria-are still available, starting at $1.8 million for the bottom level units.  So come by the sales office, we have someone on sight 7 days a week from 10-4.  We'll even be open this Labor Day, so if you have the day off, we'd love to show you around!  Hope everyone enjoys the rest of this beautiful Wednesday!

Aloha everyone from another perfect day here in Wailea!

All three floor-plans at Ho'olei, Hibiscus, Maile, and Plumeria, are now open for viewing.  These models are located on the second level in the "P" building, unit numbers 31-1, 31-2, and 31-3.  Please feel free to contact us or stop by our office to set up an appointment and schedule a walk-through for these magnificent units.  The sales office is open 7 days a week from 9am-4pm.

Hope everyone enjoys the rest of their day and work week!

Aloha from Wailea! I'm just about to end another beautiful day at the office here in South Maui and wanted to share with you all this gorgeous Wailea sunset.  One of the great perks of living down here is that you get amazing sunsets like this year round.  The song is La 'Elima by Israel Kamakawiwo'ole, enjoy!

A couple of weeks ago, Maui saw its largest closing to date this year.  The 5,685 square foot house, positioned on a little more than half an acre of land on exclusive Keawakapu beach, sold for $11,250,000 cash!  While it was listed for about $7 million more, it appraised at less than $10 million for the house and lot, so the final price represents a healthy compramise.  The closing of 3126 S Kihei Rd signals that high income buyers are again looking in South Maui for their next big investment.  Our market is surely on an upswing, and there might not be a better opportunity to gain an economic foothold in Wailea than right now.  Feel free to come by and check out the Ho'olei sales office, it's open seven days a week, from 9am-4pm.  All three models are now open and we'd love to set up a viewing appointment at your convenience.

Aloha everyone!

It is already halfway through the year, so I wanted to provide a summary of the action so far.  If you had any doubts as to who is leading the charge in South Maui, just look at the numbers.  This year, there have been nine original sales at Ho'olei, while the five biggest surrounding competitors (Wailea Beach Villas, Papali Wailea, Wailea Point, Polo Beach Club and Makena Surf) have closed four all together; furthermore, the sales of these condos at Ho'olei reached approximately $18 million in total sales volume.  Additionally, of the 20 active listings within this distinguished community, we represent 12 of them.  Finally, there are currently 9 pending sales of luxury condos in the Wailea/Makena area, and our sales team is representing three of them, roughly 33% of the total market share!  So, if you want to see what it feels like to live in style and luxury, in the heart of Maui's most prestigious resort town, please do not hesitate to contact me through this site, my cell phone at 808-870-4899, or toll free at 888-237-5928.  Also, additional information can be found on my other blog at the Ho'olei website.

Hope you enjoy the rest of your week!