As you have noticed, construction is continuing on the four new Wailea projects. Ho’olei, across from the Grand Wailea has fourteen units still for sale. Ho’olei is 120 vacation rentable townhouses and are asking in the $3 million range. Kanani Wailea, at the corner of the Piilani Highway and Kilohana Road is sold out but several units are available for resale in the $1.3-$2.3 million range. These homes are thirty eight condominiumized single-family residences. Papali, immediately north of Wailea Palms, has a few homes left. These are twenty four, also residential condominiumized, single family homes  in the $3 million range. Kai Malu is sold out.

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The trend continues. In general, unit sales continue to be down considerably from a year ago while prices have flattened. In Wailea/Makena six condominium units sold compared to fifteen last October. Median sale price for the two periods was comparable at $2.2 million. In Kihei, 33 units sold compared to 55 last October. Median sale price was approximately 10% lower than a year ago.

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Council Member Charmaine Tavares defeated incumbent Alan Arakawa and will become Maui’s next Mayor.  Governor Linda Lingle easily won re-election. Maui County Council incumbents Joe Pontanilla (Kahului), Michelle Anderson (South Maui), Danny Mateo (Molokai), Ricki Hokama (Lanai), Jo Anne Johnson (West Maui) and Mike Molina (Makawao-Haiku-Paia) won re-election. They will be joined by new members Bill Madeiros (East Maui), Gladys Baisa (Upcountry) and Mike Victorino (Wailuku). Please join us in congratulating our new representatives.

By a vote of 8-0, the Maui County Council has passed Bill 57 which imposes strict new guidelines on future development. A brief synopsis of the bill:

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Currently, Wailea Palms has four units for sale, three of which are two bedroom units. For more information, click on Current Listings above. Wailea and Makena have over eighty five units for sale.