Wailea Ekolu Real Estate Market Overview
The big news at Wailea Ekolu is the sale of unit 902, which despite not being recently remodeled and having no ocean view, sold for the highest price in the history of the complex at $2,362,000. This split-level townhouse styled unit was on market for almost six months before going under contract. This was only the second unit at the property ever to sell for more than $2M, but it will likely not be the last. There is a high demand for 2-bedroom Wailea vacation rentals.
Three owners are testing that theory: Unit 1207 ($2,095,000, listed December 21), 909 ($2,200,000, January 8) and 1507 ($2,395,000, March 6) are currently listed, along with 1-bedroom units 304 ($1,898,000, December 21) and 1304 ($1,999,999, November 25).
I’ve sold Wailea vacation rentals for nearly all of my 19 years as a full-time agent, and I’m seeing trends toward more 1031 exchange money, and other cash buyers. With California coastal vacation rental real estate largely priced out for many buyers, Maui is more appealing than ever. Please call me at (808) 444-0624 if you would like more insight on the current market, or email me at [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!