Ho’olei Defines Maui Hybrid Luxury Resort & Residential Lifestyle…& the Market Responds

Using quality of life as a barometer, what’s the ultimate address in Wailea?

The answer could well be Hoolei, the 30-acre luxury residential condo property directly across the street from The Grand Wailea.

Wailea’s gated Ho’olei, across the street from the Grand Wailea, is setting the standards for resort living in a residential setting.

Developed by the Quill Group, which also created the landmark property Na Hale O Makena, Ho’olei features 120 two-story townhome residences, spanning between 2,500 and 3,300 square feet, all with spectacular west-facing ocean views.

Completed in 2008, Ho’olei has defied downward market conditions and has nearly sold out (only ten developer units out of 120 remain unsold), a testament to the appeal of a true luxury resort with the inherent appeal of single family living. Indeed, the premise from the beginning has been to offer the resident, whether part- or full-time, the best of both worlds. The market has responded: Ho’olei has consistently and dramatically outsold the other five luxury properties at or near its price point — Wailea Beach Villas, Papali, Wailea Point, Polo Beach, and Makena Surf. Eight units have closed thus far in 2010, accounting for more than $17.5 million in sales.

Ho’olei is absolutely unique among a spate of gated luxury properties that have defined Wailea’s development in recent years. Its symbiotic relationship with the Grand Wailea enables prospective owners the unique opportunity to enjoy the facilities and privileges of one of the world’s finest resort hotels, including the property’s renowned ocean front pool, which is more like a water park.

Ho’olei caters to the vacation lifestyle to the extreme, with its own spectacular pool area that features a sandy beach entrance, 19-foot waterfall, and swim-in grotto. There is also a separate children’s pool. The property’s fitness facility features cardio and weight training equipment, Men and Women’s locker rooms, showers and saunas. An attentive on-site staff has set the standard on Maui since The Grand was built in 1991.

Ho’olei allows short-term (weekly) rentals, and most of its owners are enrolled in The Grand’s rental program. Nightly rates currently range from about $700 on the low end to $1,700-2,200 on the high.

On-demand shuttle service ferries residents across the street to The Grand’s elegant Spa Gande, and one of the world’s top-rated beaches (by no less than Conde’ Nast) and offers immediate access to fine dining and shopping.

In matters more practical, Ho’olei’s residences exceeds every expectation. Three floor plans, all split-level with large lanais (600-700 square feet),  feature three bedrooms and 3.5 baths along with private garages and elevators.

My personal favorite of the three Developer units currenlty on the market is 57-4, a third row Plumeria layout (2757 square feet) with stunning views and a wonderful furnishings package (MLS# 343022), listed at $2,725,000. On the resale market (Grand privilieges are available, but not inlcuded), pricing ranges from $1,875,000 (MLS# 343677) to $3,100,000 (MLS# 343228).

Call me today to arrange a tour of the property, and to see the available units.

Kevin A. Spaise is a specialist in South Maui residential and resort Real Estate, and the author-publisher of The Maui Condo Book, the reference guide used by Maui’s top brokerages, title and escrow companies, and investors (www.TheMauiCondoBook.com). He is on site at Ho’olei’s sales desk at The Grand Wailea, or you can contact him at (808) 344-0624.