Should You Buy A Condo At The Luxurious Wailea Point?
Wailea Point is a luxury oceanfront community located between the Four Seasons Resort and the Fairmont Kealani in Wailea.
Fully completed in 1987, the design is both classic and contemporary, with mature landscaping and beautiful grounds that overlook the ocean.
Amenities are first rate, this is after all, one of the nicest and most expensive developments on all of Maui. Most units have a view of the ocean, Hakeakala, Makena, or the West Maui mountains.
Wailea Point, Pluses And Minuses
The huge 26.36 acre property is made up of 34 residential buildings, and 32 additional buildings (garages, boat parking, meeting rooms, etc.). There are 279 separate residences that are impressively large and well-designed. Amenities include a BBQ area, 3 swimming pools, hot-tubs, recreation area, meeting rooms, exercise room, tennis courts, volleyball court, gated property, 24 hour security, and a private entrance to the Four Seasons resort.
Wailea Point is conveniently located on the Wailea Beach Path, and just above Wailea Beach, near shopping, dining, and the Shops at Wailea. There’s an activities desk right on the beach that is run by the hotel so you can rent gear like paddleboards and kayaks, or snorkel and dive directly from shore. The famous “Turtle Town” reef is directly in front of Wailea Point.
The property is exceptionally well-managed and the location is perfect for many people who like the south Maui feel with a luxury touch. But Wailea Point is not for everyone. If you are thinking about buying here, you need to be aware of a few things before you make an offer.
First, the pluses..
- Maximum Security and Privacy: This is a very exclusive property, which is why wealthy entrepreneurs, business executives, and even celebrities love it here. This is one of the few condo complexes on the island that has active perimiter security and a 24 hour a day manned front gate.
- Exclusivity: if you've been looking at other complexes, you'll quickly realize that nothing comes close to the quality of Wailea Point. This is a high-end community meant for the most discriminating and successful clients. It's a small club, and the price of admission is becoming an owner. A pretty good deal if you think about it.
- Incredible Views: Wailea Point is literally built on a rocky point that lets nearly every unit experience an ocean, Hakeakala, Makena, or West Maui mountain view, and sometimes, all four.
- Location: For many, the location is perfect. Overlooking the ocean, next to a world class resort and beach, and just a few minutes to the Shops, Wailea Village, and the island's top resorts. Not to mention that this area of Maui has what many consider the best weather on the island. Cooler than the West site, but consistently warm and sunny.
- In-Demand Complex: People who know the complex love it, and more than one owner has multiple units. When it comes time to sell or upgrade, there's usually a ready supply of buyers.
- Large Floorplans: These are not small units, the average Wailea Point condo is between 1,800 ft² and 2,600 ft² with some double units being up to 5,200 ft². There are also upgrades you can make, either expanding the outdoor living area, or closing it off to make more interior space, depending on your unit's existing configuration.
- Private Garage and Covered Parking: Wailea Point is one of the few properties that comes with a secure indoor garage for most units. Double units get two garages. Also, nearly all the parking for occupants and guests is covered, and some spaces have electric charging stations.
And now, the minuses…
- Expensive: Wailea Point is one of the most expensive communities on the island of Maui. Cost per square foot can easily exceed $3,000. Units require a fair amount of money to purchase, and even more to maintain your investment and pay ongoing expenses. A recent assessment for new windows for example, came in at almost $300,000 per unit.
- HOA Fees: A property this nice needs multiple full-time gardners, maintenance staff, guest services personnel, and management to run it all. HOA fees include building maintenance, 24 hour a day security, landscaping, pools, BBQ, Jacuzzi, as well as water, sewage, cable, Internet, and trash pickup. At the time of this writing, HOA fees are approximately $3,944 - $7,897/month, depending on how big your unit is.
- No short term rentals allowed: Even though the complex is zoned Hotel, the Wailea Point HOA has voted not to allow any short term rental rentals at all, which makes sense when you think about who the target market is. The minimum rental is now six-months, which is the same as a normal property on Maui.
- Limited remodel schedule: Major construction is only allowed between April 1st and October 31st. This is because many owners visit during the high season and don't want to be disturbed by construction noise. While this is great for residents, if you are going to remodel your unit, it means you need to carefully plan because many large construction projects can take longer than seven months.
Should You Buy At Wailea Point?
Wailea Point is a luxurious high-end condo complex that is expensive but very exclusive. There are numerous individual condos valued at more than $10 million in the complex.
The grounds are beautifully maintained, and there’s a 24 hour a day full time security, a private garage for your car, and covered parking. If you are looking for a high-end experience and you want to spend time with other wealthy people on Maui, this is your place. Prices are down slightly, even for the most premium units. It is currently considered a buyer’s market.
Wailea Point Fact Sheet
Recent Sales Price Ranges: $2.58 Million to $12.6 Million
Maintenance Fees: $3,944 – $7,897/month
- Address: 4000 Wailea Alanui Dr, Wailea, HI 96753
- Zoning: H-2/H-1/H-M (Hotel)
- Vacation Rentals: Not Allowed (per HOA)
- Gated Complex: Yes
- Oceanfront: Yes
- Nearest Beach: Wailea Beach Park
- Amenities: 2 pools, BBQ, tennis courts, Jacuzzi, picnic area, covered parking
- Construction: Concrete
- Year Built: 1986-87
- Stories: 3
- Units: 279
- Buildings: 66 Total
- Elevator: No
- Air Conditioning: Central
- Pets Allowed: With HOA Approval
- Front Desk: Yes
- Flood Zone: No
- Value: A-
- Design: A+
- Location: A+
- Overall Grade: A
Wailea Point Plat Map
The Verdict...
In our opinion, Wailea Point is an excellent choice for anyone looking for a high-end luxury experience. It’s near shopping, dining, activities, and the beach.
To see other available properties in Wailea, click the button…
Call or Text Levi Mizel at 808-281-1928
Coldwell Banker is Hawaii’s number #1 brokerage. Levi Mizel is a long-time Maui resident with extensive knowledge of the South Maui real-estate market and a ready supply of properties.
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A property investor since 1989, Levi knows how to leverage time and resources. And his local knowledge means he knows the best complexes and locations on the island for income and vacation use.
Is Now A Good Time To Buy?
- Do you dream about living on Maui?
- Are you tired of paying outrageous hotel rates?
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- Have you ever thought of relocating to the Islands?
If you said yes to any of those questions, click the button and find out what your choices are. You may be surprised what you can afford.