We are listing Penthouse Unit 307 in Wailea Beach Villas for sale at $3.45 million. As you all know, Wailea Beach Villas is Wailea's newest oceanfront condominium complex, just completed this year. Wailea Beach Villas offers two pools, fitness area, concierge services, business center, access to the Grand Wailea Resort and Spa, in short, all the amenities of the twenty first century. Unit 307 is two bedrooms, two baths, 1978 square feet and never been occupied. Travertine flooring, granite countertops, state of the art appliances, a large lanai and panoramic ocean views. The listing price is in line with other recent sales in the complex.

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An important commentary from Freddie Mac's Chief Economist today provides an argument that says yes. His argument is predicated upon recent data that shows retail sales in November were better than expected demonstrating continuing economic strength and that therefore it is less likely that the Federal reserve will cut rates anytime soon

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We’re going to try something new. A number of readers have suggested more details for Maui Oceanfront properties that have either come on the market or recently closed. So, every few days we are going to do just that. We aim to please! Today’s featured property will be 7640 Makena Road. This jewel sits on a promontory next to the Ali’i Reserve. 3000 square feet, 2 Bedrooms and top of the line materials including redwood, limestone, marble, mahogany and Ipe. The floorplan is wide open on both floors and the pocket sliders make it feel like a huge, open outdoor home. The lava rock pool and gate add luxury and privacy to this wonderful retreat style home. The property is listed for $6.495 million.

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Today at 2pm, Matteo Mitsura of Matteo's Italian Restaurant in Wailea selected the winner of the 4MauiOceanfront.com iPod drawing. The lucky winner was William Mcfarland! Tom and Sean would like to thank everyone who took the time to respond to our survey and to telling us what other information we should focus on providing. You have helped our efforts at becoming even more effective realtors and we appreciate it.

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Quiet on the oceanfront. There were no new sales or closings in the past week. However, four new listings appeared. 1568 Halama Street in Kihei has a small house and exceptional 17,000 square foot lot come on the market for $4.25 million. 20 Kai Ali Drive in Kaanapali, an 11,000 square foot masterpiece on Kaanapali Beach has come back to the market at $25 million while a one acre lot, 10 Kai Ali Place is asking $8.5 million. 127 Aleiki Place in Kuau, a small home overlooking Hookipa is asking $5.995 million. For more detail, click on Current Listings above.

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The crispness of the early mornings, the wonderful breezes off the Pacific and the increase in traffic are all telling us "The Season is here!" The million dollar question (literally) is what is it going to bring South Maui's real estate market. While nobody knows, here are some things to think about. Wailea/Makena condominium inventory remains manageable and prices this year, no matter how you slice them, have increased. Not at the rate of past years certainly, but increased in the low double digits nonetheless. The Kihei market, especially condominiums that offer nothing unique or special, have been flat to down a bit this year and inventory for that product remains uncomfortably high. On the residential side homes are moving more slowly although following the same general price and inventory trends as condominiums. The wild card is what mentality the visitors from the West Coast will bring with them this year. The California markets vary depending on one's zip code and so that influences any particular person's view of the market. We remain upbeat on what this year will bring us given how special we believe Maui is, the relatively strong US economy, the low level of interest rates and the continuing concentration of wealth in the hands of the Baby Boomers.

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Sure dealing in Maui real estate is fun. But better yet are the cultural events always going on at the Maui Arts and Cultural Center, one of the island’s treasures. Right now, First Light is showing an array of great first run movies which can be found here. Can Rocky Balboa still fight? Will Helen Mirren recreate Queen Elizabeth’s reaction Diana’s death with her usual style and grace? Dreamgirls features a cast of all-stars, is it as good as the hype? Can Children of Men possibly be as good as the PD James book?

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According to this Maui News article, Maui is enjoying a banner year in Tourism. Some key tidbits:

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While other property types see some possible price corrections, the Maui oceanfront community just continues to set their sale to the wind and get carried along. 65 Kapu Place, a vacant beachfront lot in Kihei obtained its full asking price of $2.85 million. That represents a Wailea-like value of $375 per square foot. Over the last few weeks, three big oceanfront properties have gone into escrow. A Makena Estate listed for $20 million lasted only a few days on the market, 31 Kai Pali Place, a thoroughly remodeled Baby Beach Lahaina jewel asking $9.865 million and #10 Makena Place, listed for $8.8 million are all likely to close at values of over $2000 per square foot and perhaps for the first two properties, over $3000! On Front Street in Lahaina, 303 a remodel, listed for $2.59 million has gone into escrow.

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Are the numbers in this Honolulu Advertiser story correct?  yes, as far as they go…which for the Wailea market isn’t very far. The median price of a residential home sale in November declined by a whopping 18% over a year ago. Bad news, right? Not necessarily. The mix of sales was very skewed compared to 2005. For example, in November 2005, a $9 million home in Kapalua sold as did three  Wailea homes totalling $10 million and three Maui meadows homes for over $1.2 million apiece. This past November, not a single Wailea or Kapalua home sold and only a single Maui Meadows home changed hands. So the strict comparison the Advertiser touts has limited utility. As a couple of big ticket homes currently in escrow close in December and January watch these numbers correct again. In addition, the trend for condominium prices remains, especially for resort property, upward.

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