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Oct 09

New Wailea Real Estate Developments

There is definitely a big shift in the Maui Real Estate Market.  Inventory is very tight and prices are rising in all arenas of our market.  With the recent rebound in the market, Wailea is gearing up to bring some very exciting new developments!

Currently there are three new Condominium projects and one Single Family Home project slated for the South Maui/Wailea area.  Let’s start with the Condos.

First off, Keala O Wailea will be located below the newly completed Wailea Gateway Shopping Center.  If an Ocean View is important to you, this upscale development may be for you!

gateway center

Keala O Wailea  will consist of 2 & 3 bedrooms, ranging from approximately 1100 to 1500 sq. ft. with a courtyard-styled architecture.  Currently, there are 7 buildings with 10 units each. Four units on the 1st and 2nd floors, with two choice penthouse units on the the 3rd floor.  This complex will offer a  beautiful pool area and complex community center.  Prices have not been released yet, however, I am hearing this project being slated as “affordable Wailea” and will be released below market value.

The developer will be bringing this project to market in mid-2014.  If you are interested in purchasing a unit and would like to be added to a list to receive updates on this project please email me direct at Carmen@LoveMauiRealEstate.com, or call me on my cell at 808-870-8868.  You can even hit the Chat With Me Now tab on my website or Click on the link below to sign up to receive LMRE Monthly Newsletter.

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 Second, Makali’i at Wailea, is another multifamily residential development, that will be located across from the Fairmont Kea Lani Resort.  There will be  58 units total, consisting of 17 buildings with 4 units per building.  Most units will be two bedrooms with an option for a third. Sizes will range from 1,533-1,760 square feet.  The unique architecture of this beautiful Wailea complex offers a two story home with the main entrance into the living area,  kitchen and a bedroom.  The  Master Suite is below. Each unit will have 3 outdoor living areas.  Two lanai’s and a private courtyard.

The contemporary design is said to embrace the elements of glass, air and light and offer excellent ocean views.  This project is being developed with sustainability in mind, as they will be strategically placing  rooftop photo voltaic panels for increased efficiency.  This complex will also highlight a community center, covered pavilion, fitness center, locker rooms with a steam sauna and a swimming pool.

Sales are expected to begin in the 4th quarter of 2014 with construction running from 2014 -2017.

Finally, Hoku O Wailea which is planned to compliment the existing Kai Malu complex, which sits adjacent to this proposed site.  There are 15 three story buildings with 5 units per building.  The 1st and 2nd floors will offer 2 bedroom units and the 3rd floor will be the Penthouse that has 3 bedrooms and sweeping ocean views.  All units at Hoku O Wailea will have a garage.

With the permitting process underway and nearly complete, the developer, Armstrong Builders, out of Honolulu expects to start construction sometime in 2015.

Lastly, the newest proposed subdivision is Wailea Golf Estates Phase II, an extension of  the already existing Wailea Golf Estates. The neighborhood will offer 16 single family home lots of approximately 14,000 square feet and are located in between the 5th and 15th hole of the Old Blue Wailea Course.  Owners will become part of the existing Golf Estates Home Owner Association.  Lots are expected to have ocean views.

Below is a video tour of a current active listing in Wailea Golf Estates, 3885 Wailea Ekolu Drive, listed for $4,500,000

 

Site work for Wailea Golf Estates, Phase II will begin in mid 2014 and hopefully be completed by the end of 2014.  Individual lot development will vary from buyer to buyer, depending upon when the lot is sold, and when that buyer chooses to build their home.

Besides Wailea’s new developments, there is a project under way in Makena, several in Wailuku, including Phase 8 of Milo Court at Kehalani.  If your looking for new construction in South Maui, Hokulani Golf Villas Phase II may also be of interest to you.  For updates on these or any developments, please contact me direct at Carmen@LoveMauiRealEstate.com

***Even though all of these new projects are being brought to market by a developer, Love Maui Real Estate can still represent you and assist you with the transaction.  Buyer representation is FREE!  Let me use my years of experience to help you negotiate a great deal, and help guide you through the escrow process.  I would be honored***

Hopefully, this helps shed some light on what is coming to our beautiful island as we enter into the recovery phase of our market.  Now is the time to  start your journey to making your Maui Real Estate purchase a dream come true!  There are still a lot of great buying opportunities out there!  Let me help you find your slice of Maui Paradise!

With Aloha,

Carmen Ferri, Realtor (S)