Baccarat Wailea Update

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Note: This is an older post. Baccarat Wailea never got off the ground. It was one of a few high end developments that petered out towards the end of the last housing cycle due to a lack of funding.

Billy and I had an opportunity to attend an update on the Baccarat Wailea Resort and Residences earlier this week. The event was hosted by the Wailea Group and included a tour of the grounds of the future resort, sales status, a look at some artist renderings of the property and a chance to look at proposed finishing in the Baccarat Sales Center. Baccarat Wailea Resorts and Residences is a proposed development by the Baccarat Company. The company that is renowned world wide for its high quality crystal is making its first venture into the high end resort world under the leadership of Barry Sternlicht. Sternlicht, the former head of Starwood Capital and Starwood Hotels is hoping to make a big splash at the resort. As it was stated during the presentation, Baccarat is looking to compete in the luxury resort space with other industry leaders such as The Four Seasons and The Ritz Carlton. Their goal is to exceed the standard of excellence set by their competition.

Part of any good resort is its location. It is hard to top the setting for the proposed Baccarat Wailea Resort. Baccarat is situated at the former location of the Wailea Renaissance Hotel. The resort will be low density with 14 buildings with 193 private residences on 16.6 acres that front beautiful Mokapu Beach. The developer has stripped the Renaissance and is working to reach its sales goals before the old Renaissance structures are torn down and construction begins on the Baccarat Resort. In the meantime it was good to be able to walk the old building to get a sense of some of the potential view planes for the future resort. Rest assured, the views look to be pretty outstanding with sweeping vistas of the blue waters of the Pacific, Molokini, Kaho’olawe, Lanai and the West Maui Mountains.

While the resort has not been started, that has not stopped Baccarat from hiring staff. We had a chance to meet the director of ocean activities for the resort. He will lead a group that is supposed to hearken back to the old Waikiki Beach Boys by assisting residents and guests when they are venturing into the waters that front the resort. They will provide guidance for activities like snorkeling, Stand Up Paddle Surfing and boogie boarding. They will not only ensure the residents and guests safety and good times, they will teach them about local marine life and Hawaiian Ocean traditions. This is just one of the many concierge and owner services that will be available at Baccarat Wailea.

After seeing the grounds, we were treated to a reception and a chance to get a sense of the finishing at Baccarat Model and Sales Center. It was hard to capture the finishing with photos with the crowd that turned out for the event, but rest assured Baccarat plans to use the highest quality materials, fixtures and finishing. The design is modern and very elegant.

As it stands right now, roughly 40 of 193 Baccarat Wailea residences are under contract. A large group sale is under negotiation. If that sale goes through, they would be roughly ten sales away from the go forward point on the demolition. Current sales have included a number of units from each of the different floor plans. Floor plans at Baccarat range from spacious one bedrooms to expansive four bedroom residences. Prices at Baccarat Wailea range from $1,836,000 up to $9,785,000. The Jalbert brothers may represent you as buyer’s representatives. Contact the Jalbert brothers today for additional information.

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