Ho’olei Real Estate Market Overview
One of the most accurate indicators of the health of a real estate market is what’s taking place at the high end, and what’s happening at Ho’olei is a record-setting, all-time high sale price of $6.5M, for unit 52-1. One of the true crown jewels of this sought-after vacation rental property, this unit is perched in a corner building of the top row of the terraced property footprint, and spans nearly 3,100 square feet of living space on its three levels. Commanding views are had from the living room and lanai.
This wasn’t the only impressive sale at Ho’olei in recent months. Unit 23-3, a third-row 3/3 residence with a slightly smaller floor plan (2619 sf), went under contract on the day it was listed with a full-price cash offer, becoming one of four properties in the 16-year history of the complex to eclipse the $6 million mark (two others were sold in 2012).
The $6M mark may become routine for the upper-level units. Unit 69-3 (third level) went on market March 4 at $6,195,000, and top-level 63-2 is on at the property high-water mark, $6.5M. Units 57-2 ($5,995,000) and 69-4 ($5,950,000), both third row, are also on market.
I’ve sold investment real estate in Wailea and Kihei full time since 2015, and am a perennial top producer in the vacation condo realm. Call me any time to discuss the market movement at Ho’olei or any South Maui property. I frequently do get-acquainted video showings at Ho’olei. My site is KevinSpaise.com.
My vacation rental company, Vacation-Maui.net, manages a dozen units in Wailea and 73 on Maui, including unit 12-2 at Ho’olei. I have an accurate, straightforward two-year proforma and expense list that I would be happy to provide. Reach me at (808) 344-0624, or [email protected].
Kevin Spaise is a Maui Realtor specializing in Maui vacation rental investment real estate. Kevin is an expert in Kihei and Wailea real estate and has been a full time Realtor for 20 years, with more than $120M transacted. He owns Vacation Maui, a property management company with 70+ investment condos under management, and delights in providing real-time performance data to future investors. See KevinSpaise.com, or call him directly at (808) 344-0624.
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Whether you're just starting to explore the options and want a quick overview of the areas and pricing, or specific properties have caught your attention, I would so appreciate the opportunity to share my knowledge and insight with you. Warm Aloha!