Wailea Kai Real Estate Heats Up With 6 Sales in Last 7 Months

Wailea Kai is the only single family development in Wailea where ownership is possible at or under $1M.

The walk-in entrance to one of Maui’s finest beaches, Keawkapu Beach, is steps from Wailea Kai’s main gate.

The gated subdivision of Wailea Kai, with its small web of cul-de-sac streets, massive community green belt, and location steps from magnificent Keawakapu Beach, offers value and opportunity for ownership that may be missing in other newer and more contemporary developments in the luxury community of Wailea on Maui’s south shore—and the market is responding.

Its access to Keawakapu Beach—unmatched by any of Wailea’s many newer communities, which arch higher up the hill—is the primary draw for most of Wailea Kai’s residents, who also appreciate its spacious park-like setting. Keawakapu Beach is among the best on the islands, with an idyllic golden shoreline that you can walk for several miles, past the Wailea resorts. There is also a diversity in its design that you won’t see in other, newer developments.

Recently Sold

Two homes closed in the last 14 days:

• 18 Waaula Pl., 2/2.5, 1950 sf, sold at full price
• $895K; and 70 Waikai St., 3/2, 1757 sf, $688K

Pending

There is one pending sale:

• Listed at $945K, 64 Hoawaa Way, a 2/2 with 2,169 sf, went pending three weeks ago.

Previously Sold

The three previous sales, all in the last nine months:

• 85 Pukolo Way, 4532 sf, 5/3.5, $1,699,000 ($374 sf)
• 121 Waikai, 2372 sf, 3/2, $865,000 ($364 sf)
• 59 Hoawaa Way, 2612 sf, $935,000 ($358 sf)

Available For Sale

Three active listings & one pocket listing at Wailea Kai:

1) 136 Waaula Way
4/3.5, 3293 sf, $1.5M (MLS# 338940)

Contemporary home, larger than most in the development with beautifully remodeled interior. Immaculate. Very private, with stunning pool and patio area. Built in 1988, shows much newer. Granite, marble, lots of windows and light, and premium quality construction throughout.  The last two sales in the neighborhood went for $392 and $458 s.f.; this one is priced at $455, and may have to come down to the $400 range to sell. This home would be a great buy at $1.3M.

2) 28 Manu Ihu Pl
5/4, 3228 sf, $1.649M (MLS# 342742)

Built on one of the largest lots in Wailea — nearly 1/3 acre — this spacious home features great privacy and a nice location in the community. No pool, but has approved plans. Upper-tier price of $510 per square foot is somewhat justified by the lot.

3) 3450 Waiea Pl
3/3, 2036 sf, $1.295M (MLS 343635)

At $636 per square foot, this new listing may be ambitiously priced, but its expansive ocean views and privacy will command a premium.  At 2036 square feet, it’s on the small side for the community, but the windows and floor plan open it up nicely.

4) Pocket Listing
I also have a pocket listing—a pristine, larger original home with a pool and garage—that will sell in the $1.2M range, at around $400 per square foot.

Kevin Spaise specializes in Kihei and Wailea properties. He is the author/publisher of The Maui Condo Book (www.TheMauiCondoBook.com), the leading reference directory used by Maui Realtors, Brokers, Appraisers, and other real estate professionals and investors. Contact me: