Overview of Wailea Elua
Wailea Elua Village is a beachfront condominium resort in Wailea, Maui. The project covers 24 acres, featuring two pools, a hot tub, a tennis court, a putting green, and BBQ facilities. The entrance is guarded to ensure privacy for guests.
Wailea Elua offers one-, two-, and three-bedroom condos. These condos have a separate living and dining area, a fully equipped kitchen, a private lanai or patio, and a washer and dryer.
Wailea Elua Village is situated on Ulua Beach, known for its white sand and picturesque views. It’s also close to the Shops at Wailea and the Wailea Beach Walk, where you can find restaurants, shops, and entertainment.
What We Love
Wailea Elua sits right above Ulua Beach, one of the best beaches in Hawaii. The complex site has a sprawling layout, giving the property a more residential feel than a high-density condominium. The grounds are impeccable, with decorative gardens and large lawn areas, you can stroll the property for evening walks or step right out onto the Wailea Boardwalk for a 3-mile round-trip cruise.
What We Could Do Without
Wailea Elua is a walk-up complex, so it’s a bit more difficult if you or your guests are moving luggage and/or Costco provisions. The other thing to note is that the beach parking is right next door. That parking lot does, however, close just after sunset.
Unit Configurations
The information provided below is from the original developer’s marketing. Units may have had considerable alterations throughout time, and/or the property as a whole may have undergone minor adjustments. There are 25 two-story condos with 12 one-bedroom and one-bathroom units, 26 one-bedroom and two-bathroom units, 98 two-bedroom and two-bathroom units, and 12 three-bedroom and two-bathroom units. At Wailea Elua, the units range in size from 891 to 1,869 square feet.
Onsite Amenities
- 2 Ocean View Pools
- Hot tub / Spa
- Tennis Court
- Beachfront BBQ Facilities
- Fitness Center
- Putting Greens
- Outdoor Lounge Furniture
- Free Parking
- On-site Security
Nearby Amenities
Some of the most well-known Maui golf courses are only around the corner. If shopping is your favorite pastime, The Shops at Wailea’s offers extensive options. Not to mention the proximity to some of the world’s most magnificent beaches (Big Beach, Little Beach, and Keawakapu Beach).
Wailea Elua Sales Statistics
Please feel free to reach out directly for active listings, pending sales, specific sales data, or current price opinions.
The report below is real-time data sourced from the Realtors Association of Maui. The statistics include Wailea Elua’s average sales price and average price per square foot. These graphs will update automatically with the most recent data.
1 Bedroom
2 Bedroom
3 Bedroom
Association Information
For up-to-date information on Homeowner Association (HOA) fees and related matters, don’t hesitate to reach out via call or email. (This information is prone to regular updates and changes.)
Here are the Association rules and information.
- Pets are allowed
Primary Uses
Short-Term Vacation Rental
Maui vacation rental demand has consistently performed well throughout the years due to the desirability of being in a tropical setting yet still within the United States. During the peak winter season, Maui’s population can shift from the baseline resident population of 165K or so to over 300K people.
Historically, the typical vacation rental condo averages 75-80% occupancy; we have some clients and property managers that consistently keep their units 90%+ booked. High-end units may see lower occupancy than mid- to low-end vacation rental units.
As a guide for our clients, we apply the 10% rule to help them identify properties with a gross annual income of 10%+ than their acquisition cost. An example would be a $1M property grossing $100k or more yearly. The net income to the seller would be based on how they operate the unit and the work they’re willing to do. Self-managed units net the highest income but also require the most work. Front desk management usually has the lowest income but less involvement and flexibility. Independent property managers are often the happy medium between excellent service and solid revenue. Please reach out if you’d like a proforma or rental projection for a particular unit. We’d love to help.
Long-Term Rental
Long-term rentals are considered six months or longer here in Maui. You avoid some operations costs such as cleaning, higher management fees, and higher tax rates; however, you are likely to get more income running your unit as a short-term vacation rental. Long-term rentals also offer you less flexibility for owner stays.
Second Home
If your goal is not to maximize your ROI and simply use the unit as you please, you can do so. You would pay the highest and best use for real property tax, but you would not be subject to the TAT and GET taxes (see below) associated with income-producing short-term units.
Owner Occupant
If Maui is where you want to call home, the owner-occupant is the one for you. If you spend 270 days out of the year on Maui and your unit is your primary residence, then you can apply for the Owner Occupant exemption (frequently asked questions)
South Maui Map
Zoning
The zoning for Wailea Elua is H-1. As per Maui County Rules, short-term rentals are allowed.
Taxes
Taxes to consider when owning at Wailea Elua:
- Transient Accommodations Tax
- General Excise Tax
- Real Property Tax This rate will change depending on your use. You may fall under short-term vacation rental, long-term rental, or the base zoning if your unit is an empty second home or owner-occupied. Resident owner occupants that spend 270 days or more here a year also receives the home exemption tax break.
Weather
Helpful Weather Resources:
Why Tim Stice?
I love what I do and I’m here to offer my clients outstanding service. My team and I have seen almost every scenario imaginable (at least, we’d like to think). Through solution-based problem-solving, transparent communication, and unrivaled market knowledge, we have successfully navigated over a half billion in closed transactions. We care about our clients and are eager to earn the title of your real estate representative.
Give me a call or shoot me an email.
Tim Stice | 808.268.8511 | timstice@hawaiilife.com
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