As the rest of the world holds on pause to see what happens next, La’i Loa at Wailea, Wailea’s newest product has been introduced to South Maui. Although the current state of the market and has some concerned about uncertainties, this development has been long awaited and warmly welcomed by a captive audience. Bordered by Kai Malu at Wailea, the Wailea Blue Golf Course, a 13 acre natural reserve and Wailea Alanui Drive as shown on the map below.
Many of you have asked over the years to be kept apprised when something new comest to South Maui… 4 weeks from launch and they’re already 25% under contract.
The final 125-acres of residential living in Wailea was purchased by the developer, Ledcor from from A & B in early 2019. An upcoming 7 complex family of homes, Wailea Hills is on the last portion of what’s to be built in Wailea with walking paths, beach and restaurant access and a community vibe. It’ll take years before full completion, but we kick it off with Lai’loa at Wailea, 15 buildings with 75 units on 13 gorgeous acres of South Maui. The buildings in Lai Loa, located off Kai Malu Drive, and bordering Wailea Alanui Dr. will be oriented along the elevation to maximize the ocean views for the single-level two- and three-bedroom units and four-bedroom penthouses. Think big ocean, outer-island and golf course views – especially from the highly coveted Penthouse units, which are starting at $3.495m.
All views will face Northwest, with home prices starting at $1.5 million. and ranging into the upper $3m for larger footprint Penthouse units. I had the pleasure of attending a recent virtual tour. With the new ages of technology, they are able to depict excellent renderings of what’s to come. The best thing about these units are the size of the footprints. Larger than at Kai Malu or Keala o Wailea and really unlike anything else currently in Wailea. They also all have parking garages and ample storage for kayaks and stand-ups. All units will look straight out to the ocean, with the panoramic being the most substantial of them all.
Spacious floor plans
- 2 bedroom, 2 bath $1.495 1,374 inside + 312 sq.ft. covered lanai = 1,686 total sq. ft.
- 3 bedroom, 3 bath $2.050 1,743 inside + 424 sq.ft. covered lanai = 2,166 total sq. ft. Sits 40ft above the road
- 4 bedroom 3.5 bath $3.495m 2,587 inside + large 778 sq.ft. covered lanai = 3365 sq. ft. total Sits 55ft above road
All residences include designer custom finishes. There are no upgrades, they are all top notch. Sleek finishes include: disappearing glass sliders, wooden entry door w/ glass side light, LED lights in all rooms, plush carpets in the bedrooms. Grasscloth finishes, subway tile in the kitchen, double ovens, Hans Grohe appliances and toto toilets. To be explained as classic and sophisticated with a contemporary, modern and neutral color palette. Keeping it comfortable and practical… every unit has wide / deep lanais and a barbecue that vents to the outside.
Seattle-based architecture firm Weinstein A+U brought the vision to paper and world-renowned, Honolulu-based Philpotts Interiors are leading the design team for the project. Ledcors portfolio also includes development of the Luana Garden Villas at the Honua Kai Resort & Spa near Kaanapali on the west side of Maui. If you’ve ever been to Honua Kai invest Maui, you’ve been introduced to the luxe product that these visionaries are known for. It’ll be fun to see the same realized on our side of town and we are excited to bring you this special opportunity.
The amenity center sits against a 3-acre natural reserve parcel. A hot tub, infinity pool, gym, pool with expansive deck, and cascading lawns for bocce ball or sunset picnics. A well thought out plan promoting gathering and community and it has nothing impacting your view.
Photos and site plans courtesy of Wailea Hills, via their brochure. Listed by Polaris Pacific Properties.
Projections forthcoming for a larger-scale community center for the Wailea Hills project – 7 communities as a whole to enjoy. This will be near the upcoming Clubhouse which will be a big benefit.
This is the first project of 7 that will complete the Wailea Resort. It’s smart to consider “getting in” early. You saw what happened with initial investors at Keala o Wailea. Don’t WAIT. Virtual tours are available and reservations are being accepted now.
What’s required to reserve?
- 5% 1st deposit, due at contract signing
- Contract goes binding 30 days from acceptance.
- 10% 2nd deposit, due November 2020.
- 85% to be brought in at close via cash or loan.
Once 65% of the units are binding the developer will break ground with completion projected at the end of 2023, although that is not definitive.
The first phase has almost sold out and more are expected to release soon.
Check out this latest video from our Chief Economist Matthew Gardner on New Home Construction.
Curious about New Construction? It’s an even better opportunity in a place with limited supply.
Reach out… Let’s get your toes in the sand.
With aloha, Erica
Pu’uhonua Estate – 300 Kepa Road, Kula, Hawaii
A Private Estate Compound on 16.47 private acres on the slopes of Haleakala in Upcountry Maui.
- 5,374 square feet, 5 bedrooms + 4.5 bathroom main house built in 1926
- 1,832 square feet, 2 bedrooms + 2 bathroom cottage built in the late 1970’s
- 500+ square feet, 1 bedroom + 1 bathroom cottage
- Garage with Studio apartment above
Recently Listed for $6,900,000
An elegant estate property tucked away at the end of a lane in Upcountry Maui where the climate is mild and the views are spectacular. The sweeping entry driveway is edged in glorious jacaranda trees with their vibrant purple blooms. Built in 1926, this grand estate is steeped in Maui history and has been the site of many wonderful island gatherings. The tranquil estate includes 16 acres of beautiful upcountry land, 8 of which are manicured and planted with gardens of protea, day lilies, azaleas, fruit bearing trees, exotic palms, a Japanese garden and rows of orchid greenhouses.
Walk along the tree lined paths from the 5,000+ sq.ft. main home as you step back into time with a paneled library, formal living and dining rooms, butlers’ pantry and grand staircase that leads up to the upper floors with period fireplace and chandelier. This is the ultimate restorationists dream…
Next stop is the 1 bedroom, 1 bath cottage, with a free standing garage building and studio apt above, then down the drive to the 1,832 sq. ft. 1970’s home with vaulted ceilings and wood floors at the bottom of the manicured lawn. Walk past the protea beds and lush Hawaiian gardens up to another house with the garage building at the edge of the entry with a 3 bedroom, 1 bath apartment located above.
This historic residence is going to require some modernization, but over 11,000 square feet of total living space in an ideal location presents an exceptional value. An ideal setting for a private Bed and Breakfast, or a Treatment / Rehabilitation Center.
Introducing You to Upcountry Maui
Locals know to escape the heat, head to the rolling hills and expansive pasture land of Kula, and the quaint communities beyond of Ulupalakua and Keokea. Kula means “open country”, and this loosely designated area that sits between 1000 feet to 8000 feet elevation, is known as the “breadbasket” of Maui. The “farm to table” phenomenon has catapulted many gardens and farms into creating some outstanding farm tours and tasting opportunities of their locally made products. Known for its tropical gardens, lavender, protea, sweet Maui onions, goat cheese, coffee, carnations and orchid for leis, cattle, and Kula is known for generations of old farms, cowboys, and artists.
Relaxed and slow-paced, the regions farming and ranching history and shear isolation, with no direct public road connecting it to South Maui, helps to maintain the quiet vibe we know and love as Kula. This is the perfect location for someone looking for privacy and elegance to recover in serenity. With amazing views of the ocean below and a cool breeze, this part of your Maui stay will be a welcome reprieve from the busy tourism hubs of Kihei and Wailea below.
We’ve seen celebrities like Oprah Winfrey, Clint Eastwood and Steven Tyler become a part of the Maui community – a quick flight to L.A. – but secluded from the fast-paced tinseltown.
Masaru “Pundy” Yokouchi and the History of the Storybook Estate
His influential role in politics, combined with luck and astuteness (not to mention TIMING…) in real estate investing and developing, coupled with a reputation for a particularly fair and generous way of treating others, Yokouchi was one of the most sought-after and best-connected people in Hawaii in the Democratic years.
Since as far back as the mid-1960’s, he was at the center around which power gravitated on Maui. Every major politician and businessman on the island stopped by his office, teed off with him on the links or shared aloha in the community. Officials and community leaders describe him as “incredible guy,” “generous and humble person,” “gracious gentleman,” “great man” and “Maui’s last hero.” He never graduated from college, missed fighting in the war and spent nearly two decades as a baker before he hit it big in real estate. We look around today and see a plethora of realtors, but back in Pundy’s day, the idea of getting rich buying and selling Maui land was novel.
In 1960, Pundy got his real estate license and opened Valley Isle Realty and within just seven years, the office members held some heavy positions in both community and politics. Things began happening for Pundy very fast; in 1970 Yokouchi began buying and selling large tracts of land making a lot of money – both on and off the record. By 1977, Pundy and his wife had expanded their portfolio and were living in this 16-acre spread in Kula, after selling their old, modest Wailuku house.
Maui looks the way it does today because of Masaru Yokouchi Lahaina Town, Ka`anapali and Makena all owe their development—and to a considerable extent, their controversy—to Yokouchi. To speak of him without acknowledging his role in these developments is to dishonor the man and his achievements.
The president of Valley Isle Realty, Kaanapali Kai Inc. and his own foundation, also is chairman of the Maui Arts & Cultural Center,” Masaru “Pundy” Yokouchi died at the age of 81. Articled fled the press full of details about Yokouchi’s standing as Maui’s greatest patron of the arts. He served for 12 years as chairman of the state Foundation on Culture and the Arts and raised $32 million to get the MACC built. His influence, generosity and fundraising were so prodigious that the MACC—which he chaired from its 1994 construction to his death—would never have been built without him.
These stories illustrate the variety and complexity of the world in which Pundy did business. He’s contributed to the make-up of Maui as a whole and a figure to be remembered.
Big Opportunities in Investing in Specialized Rehabilitation and Addiction Treatment Centers
Modern Rehabilitation Centers have been reinvented into to private experiences with individualized care to treat mental and substance abuse. Consider places like Cliffside Malibu, or Monarch Shores in Orange County, California. Consider a premier destination for alcohol rehab and drug addiction treatment and luxury rehabilitation on Maui. With the opiod crisis and mental health on top of mind, this climate and the need for expanded access and luxury care creates opportunity for investors. A private estate where people can come – privately – to get well.
Maui is a wealthy beach community but it’s also a relaxing and serene hub for nature lovers, adventurers, and soul searchers. The magnificent landscape of mighty Mt. Haleakala crushed against the shoreline and the breathtaking Hawaiian sunsets are just some of many elements that make the natural beauty of Maui something one doesn’t easily forget. In a sense, Maui is the ideal location for luxury rehab centers.
The time to turn a blind eye to an ever-growing problem is diminishing
State governments aren’t paying to build more methadone clinics and there’s little money available in the non-profit sector for them either. Still, the number of programs has nearly doubled in the last 10 years, largely thanks to private investment, which is a positive development. A detox setting or a rehab program has a much wider stream of potential where revenue, can be covered by insurance, and people are willing to pay for it if they have the resources to pay for it to get better. The real questions are about occupancy rates, insurance reimbursement and unlimited potential as the future demand for detox and treatment is inevitable.
With big private equity money moving into the drug rehab space – they can afford to purchase larger facilities. Larger campus type rehab facilities with economies of scale; a kitchen and crew, a groundskeeper, an executive director, and etc. If the healthcare system is heading into single payer or “in network” then the out of network PPO policies (which are lucrative) will be harder to land. It’s predicted that the larger drug rehabs will have an easier time of transitioning to an in-network type of an environment because they will have the economies of scale. Take a look at this article from Modern Healthcare.com about the incline in investments in this sector just over the past year.
Specialized Treatments, on-site care and staff dedicated to the well-being of their clients with amenities that could include:
- Luxurious bed and bathroom accommodations
- The option for private rooms and private bathrooms
- Five-star, farm-to-table dining
- Holistic therapies such as yoga, massage, and acupuncture
- Sports such as tennis and basketball courts
- Art therapies such as writing, painting and reflecting
- Picturesque views and serene surroundings
- Top-notch service catering to all comforts
- Gyms, pools, and tropical gardens
A perfect palette to realize a long-term substantial investment. It’s going to take some cash to overhaul the space, but the owners are motivated and this is a one-of-a-kind legacy property in a dynamic location.
Give me a call and we can discuss how to make it yours.
A L O H A
How Will the Next Recession Affect the Housing Market…
Given the current media buzz of an impending recession, many Americans are fearing the worst and believe a downturn in the real estate market is inevitable. Take a look at the graph below from Keeping Current Matters.
It’s important to note that of the last five recessions in U.S. history, three of them saw increases. Two of those three saw prices appreciate faster than the historical average, and the massive down turn was as a result of loose ethics and loan practices.
What Exactly is a Recession…
According to Websters Dictionary, a recession means a time where the economy dips for a period of 6 months. Considering that we’re in the longest running economic recovery, it’s no surprise that we’re in for a breather. The Maui marketplace is still robust and active with consistent visitors looking to scoop up great properties and the inventory is low – so it’s still busy and still fast paced for those looking to buy.
How Will Maui Be Affected?…
Saying anything is recession-proof is a tough statement to make, but any time you have scarcity in a market, whatever the market is, it sets up your investment for success. Purchasing in a location with limited supply is key to making sure your vacation home investment doesn’t depreciate dramatically in a recession. The rental income opportunity can also provide some insulation from market downturns, and there are other factors, too, that help make certain types of vacation homes less risky investments. Check out the most recent short term rentals in Wailea here.
For the best locations in Hawaii, like the Maui beachfront, the dip in property values at the last turn was only 10% to 12%, the reason being the barrier to entry—the ability to get anything built—is unbelievably tough. It isn’t overbuilt, and people recognized the value here. Selecting the location of your vacation home wisely may not protect you entirely from seeing a drop in value during a recession, but it could mean that the decrease you see is much smaller than it would be elsewhere. Also consider whether a second home will be a long-term investment, and perhaps even someday become your primary residence or legacy. Our listings at Mahana Estates are legacy homes where families are seeing their dreams built before their eyes. I encourage you to reach out and ask questions on how we can paint this picture for you.
Places like Hawaii, Cancun and Mallorca don’t go through seasonal ups and downs. There are low and high seasons, but people are always visiting. People buy a second home and eventually envision living there, so in that sense it’s recession proof. Even in a recession, there are people that still have money, and they’re looking for very specific types of houses, and are very location-driven. As we approach winter, we expect more inventory to come one as usual and we look forward to seeing our friends who return year after year. If you’re curious about a Maui investment, reach out, let’s get your toes in the sand. Aloha!
Understanding Wailea Golf Club Membership can be tricky. As projects were developed and plans were originally being set into place, different programs were approached and devised with the Wailea Community Association. Those qualifying for Wailea Golf Membership have no particular rhyme or reason why, it just “is what it is”. Read below for a clarification on which properties qualify for Wailea Golf Membership or Owner Rates.
WAILEA PROPERTIES THAT QUALIFY FOR GOLF MEMBERSHIP:
Ekahi | Ekolu | Elua | Grand Champions Villas | Wailea Kai | Wailea Kialoa | The Palms at Wailea | Wailea Point | Wailea Fairway Estates | Wailea Golf Estates | Wailea Golf Vistas | Wailea Highlands
NOT ELIGIBLE FOR MEMBERSHIP, BUT QUALIFY FOR PROPERTY OWNER RATE:
Fairway Villas | Hoolei at The Grand Wailea | Papali Wailea | Wailea Pualani Estates
NOT ELIGIBLE FOR MEMBERSHIP OR PROPERTY OWNER RATE
Maluhia | Wailea Beach Villas | Kai Malu | Kanani Wailea
Check out these links for more information and applications on Wailea Golf Membership and benefits. For more details and to schedule a tee time, contact Wailea Golf at 808-875-7450.
The Gold Course – Referred to as ‘ the thinking mans course”, this one is tougher requiring a more strategic approach. and less scenic than its neighboring comrades. At 7,078-yards and created by Robert Trent Jones Jr. this course received accolades from Golf Digest, Golf Magazine, Conde Naste Traveler – just to name a few. Strategy and finesse are important to playing the Gold well, and the course’s intriguing risk-reward choices makes it possible to use every club in your bag.This par-3 beauty has golfers teeing off toward an unbeatable view of the ocean and little Molokini, a crescent shaped islet and one of Maui’s most popular snorkeling spots. Check out more details on the Wailea Gold Golf Course
The Emerald Course – At 6.825 yards, the Emerald Golf Course is the Wailea Blue courses immediate neighbor to the South. Enjoy picturesque over-the-top views for as far as the eye can see. Carpet like fairways, tropical foliage and the fresh breezes ofHawaiian air. This course is known to be ideal for the recreational golfer, rather than the one vying for exact precision and difficulty. Golf for WomenMagazine has coined the Wailea Golf Club a Top Fairways Award for the country’s most women-friendly golf clubs, an honor that has been acknowledged seven times. With 4 to 6 per boxes on every hole, this course is no cakewalk and still geared to cater to any skill level. Comments say that this course is “Challenging enough, certainly not punishing”. More details on the Wailea Emerald Golf Course
The Blue Course is newly serving guests form the pro shop and its brand new location on Wailea Ike – adjacent Manoli’s Pizza Company – which is, by the way… the perfect place for the 19th hole. Meander through the relaxing fairways with outer-island views at the base of the 10,000 ft. dormant volcano, Mt. Haleakala. Lovely tropical florals, a coral lake and classic coral sand bunkers slice up a game of strategy and competition for an avid golfer. Lower winds than other courses on a good day, with scenic views from every holeThis Championship Course is Wailea and South Maui’s perennial favorite and probably the most popular. Check out the map of the Wailea Blue Golf Course
Clinics, tournaments, executive and corporate and fun and family play are always available.
This master planned 1500 acre Resort was thoughtfully designed for both full-time living and vacationers wanting a luxury lifestyle. Whether you are a first-time buyer seeking a popular vacation rental investment, or wanting to purchase your quiet Maui retreat home, Wailea is a terrific place to park your money and watch it grow. With so much growth on Maui, it’s time for you to be a part of it. Maui county was recently named one of the best places to own a home in Hawaii as posted by MauiNow.com
If you’re considering an investment in the Hawaiian Islands, reach out. Let’s get your toes in the sand.
With aloha, Erica
Furry friends belong in paradise too! Ever wonder which luxury developments in South Maui allow pets? Take a look at these popular Wailea developments when considering where to purchase a home in South Maui that your pet can enjoy too!
Kai Malu – This is an excellent option for someone looking for more space and to spread out. 150 2-story units total, some with a downstairs master. These sophisticated townhouse style units are built in 2007, with fresh spaces and high ceilings. A refined complex with infinity pool, and pavilion perfet for entertaining and well situated on 25 hillside acres of golf course. You’ll notice many full-time residents in this community, as no short-term rentals are allowed.
Kanani Wailea – built in 2007, 38 home sites on 8 hillside acres. The lowest priced large footprint condominiums in all of Wailea. Over 2000 sq. ft. and starting in the low million range, these have high end finishes and are about half way down the hill so you still catch views and backlit sunsets. A great option for someone who wants the space but not the yard maintenance. No short term rentals are allowed in this gated development.
Keala o Wailea – Built in 2017, there are 69 brand new 2 and 3 bedroom units perched on the hillside just as you come into Wailea. This well thought out development was affordable with pricesstating at 819k, and they were 95% sold when they released the first set of keys last month. New construction is catching a lot of attention in South Maui, and there are 2 left in this location. No vacation rentals allowed.
Makali’i at Wailea – Just breaking ground and already 65% sold, these 68 luxury modern 2-3 bedroom townhouses are starting in the 1.3 range. The team at Armstrong has promised us a “view above the treetops”, and a product much more modern and contemporary than Wailea has ever seen before – think “Andaz”. It’ll be exciting to see what the finished product is like and what kind of owners end up residing there as this one is for long term residents only.
Polo Beach Club – Absolute supreme South Maui complex next door to the famed Fairmont Kea Lani hotel. Built in 1982, this is a 71-unit high rise is on 2.5 acres of the most pristine sandy beachfront. Enjoy an active lifestyle with regular beach walks and picturesque sunsets from your lanai. Well performing short term rentals are generated from this one-of-a-kind location.
Ekahi – From studios, to 2 bedroom townhouse style units, this large development of 294 units graced Maui in 1976. Well located on 34 acres with easy access to the beach, world-class resorts and golf. A great option for one looking for passive income or possibly a place to return to year after year with minimal maintenance.
Ekolu – Known for excellent location and affordability, these 146 units span from small studios to large 2 bedrooms with garden and ocean views. Built in 1979 and on 18 hillside acres of golf course, this is a very desirable place to spend an island vacation, as evidenced by the popularity of short term rentals found here.
Elua – Known for ample sized footprints, some units with independent garages, the easy beach access, and extraordinary views. These 152 larger scale units were built in 1977, and provide easy access to beach walks and activities on 24 acres of South Maui beachfront. Luxury vacation rentals are allowed in this complex.
Wailea Fairway Villas – Newer development built on the top of the hill in 1998 with 118 townhouse style units on 12 acres of golf greens. Higher ceilings and lofts make this a comfortable place for long term living. Stable neighbors with no short-term rentals allowed. These are a great “lock and leave” investment in Wailea.
Wailea Palms – 120 units and 16 2 story units, known as phase 2 of the development allows pets but does not allow short term rentals. Concrete construction keeps the units cool and they’re just a short stroll to Keawakapu beach. Another terrific option for the long-term resident looking to be central.
– The ultimate in South Maui luxury. These front row, high end luxury condominiums are awesome for someone who wants the best in everything. Large floorplans, wide open spaces, and private lanais are what you can expect from these units. Panoramic views from some, reach out and touch the ocean from others… these 130 units are on 28 acres of oceanfront, directly on the beach path in a complex full of amenities for only the most exclusive buyers.
If you’re interested in honing in on the development that is right for you, reach out.
Let’s talk. Aloha, Erica