Palms At Wailea Rental Overview
April 25, 2024
April 25, 2024
We manage three units (two 2-bedrooms and one 1-bedroom) at the Palms, and of the 73 units in our rental portfolio, they’re among the favorites. Our reviews tell the story: of 51 total reviews for these three units (Palms 703, 705, and 801), we’ve received 47 5-Star notices, four 4-star, and one 3-star.
See the units here:
https://www.vacation-maui.net/the-palms-at-wailea-703/
https://www.vacation-maui.net/the-palms-at-wailea-705
https://www.vacation-maui.net/the-palms-at-wailea-801/
Our occupancy has been through the roof, even through the recently challenging times. Unit 703 was occupied 86% of the time, while units 703 and 801 averaged 92%. Rates for 703 and 705 averaged around $535 per night with a peak of $650, while unit 801, the 1-bedroom, rented at $300-339 per night.
Our rates were down over 2023 by approximately 10% (island rates as a whole were down 23%) and our occupancy was approximately 20% higher than other management companies at comparable complexes. We attribute this to great reviews, aggressive marketing, and excellent guest service.
We’re a low-volume management service (Vacation-Maui.net), with just 70 units under management, and we’re intentionally small. Our team is committed to providing the ultimate guest experience, and with more than 4,000 reviews and a 4.85+ overall average across all of our properties, we’re succeeding. Our unit care is on point. We’re locally based and our ownership is very hands-on. If you’ve thought about exploring your options, feel free to give me a call at (808) 344-0624, or an email at [email protected]. I sell a lot of investment real estate: my site is KevinSpaise.com. Our management site is Vacation-Maui.net.
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!