Barry Sternlicht the visionary leader of Starwood Capital and the former CEO of Starwood hotels is upping the ante in the luxury real estate and accommodations market in Wailea. The Renaissance Wailea Beach Hotel situated on 15.5 acres of prime beachfront property will be torn down this fall and replaced by 193 ultra luxury 1 to 4 bedroom condominiums and re-branded as the Baccarat Wailea Beach Resorts and Residences. This low density development, just north of the Shops at Wailea will consist of thirteen two to four story buildings, a world class spa and several Baccarat branded restaurants. The buyers of these units will have the option to live in the units or place them in a resort based rental program.
Billy attended a recent presentation in Wailea about the development. There was a lot of excitement and anticipation since this is the first foray of the Baccarat brand into hospitality industry. The details thus far are limited as many of services are still in the process of being developed. As the first 5+ diamond resort on Maui, Bruce Pittet, the owner services executive representative, stated a goal of providing a “flawless service experience” for clients with such amenities as private chefs, private dining and butler stations situated around the resort with service personnel ready to attend to owners and guests every need.
The suites will be large with one bedroom units in the 1,000 to 1,500 square foot range and 2 to 4 bedroom units running significantly larger. The goal is to provide world class facilities and incomparable service and amenities. Drawing a comparison to the other resorts and condominiums in the area, the presenter emphasized that rooms / units will be larger and newer than all of their competitors, their services will be better and the resort will have more of an intimate, boutique feel. Pricing at Baccarat Wailea Beach Resorts and Residences will run from under $2 million to nearly $10 million for the 4 bedroom beachfront penthouses.
We will be obtaining more about the project next week. A sales event is scheduled for July 27. If you are interested in learning more about the Baccarat Wailea Resorts & Residences, please contact us immediately and we will release information to you as soon as we obtain it.