2007 - A Great year For Wailea Condos!

2007 proved to be a great year for condo sales in Wailea/Makena. Sales rose from 189 units in 2006 to 233 units in 2007 - a 23% increase! And this was accompanied by less than 5% decline in the median price. Indeed, total sales volume was over $400 million in 2007! This compares with less than $345 million in 2006.
This great strength in the face of challenges nationwide to the real estate industry attest to the popularity of Maui as a destination for home owners.

Sales in the Wailea/Makena area were aided by a number of new projects that came on stream over the last couple of years. These included Kanani Wailea, Wailea Beach Villas, Kai Malu, Ho'olei and Wailea Town Center.

In spite of the new projects coming on stream, the older established condo complexes still proved popular. These condos included Grand Champions, Makena Surf, Na Hale O Makena, Palms at Wailea, Wailea Palms, Polo Beach Club, Wailea Fairway Villas, and the evergreen Wailea Ekahi, Wailea Elua and Wailea Ekolu.
Unit sales in these complexes were down 13% from 87 (2006) to 76 units (2007) though the median price declined less than 3%.

In the new projects, sales rose from 102 units in 2006 to 157 units in 2007 - a gain of over 50%!

Perhaps we can look to continuing strength in Wailea/Makena during 2007 as resales in the new projects increase and new units continue to roll out from high end projects like Ho'olei.