Bank Owned Opportunity in Wailea

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This Property Sold in 2010

We are continuing to see some good opportunities on REO or bank owned properties on Maui. There was a big price reduction on a bank owned unit at Kanani Wailea today. The new price makes this listing one of the more compelling luxury values on the market. Wailea has seen some of the strongest buyer demand on the island over the last couple of years. This Kanani Wailea condo represents the lowest entry point for a three bedroom home in Wailea. It is priced at less than half of its 2007 purchase price.

I had the opportunity to preview this condo a few weeks back. It is two stories with three beds/ 2.5 baths and a two car garage. The unit is in good condition. The beautiful hardwood floors, granite counter tops and top of the line appliances are all something you would expect in a condo at a higher price point. Kanani Wailea is a gated community with a recreation pavilion that features an infinity edge pool with spa, an athletic center, BBQs and a kitchen. The complex is pet friendly, but prohibits vacation rentals. This is a good community for second home owners who don’t want to rent, retirees or local professionals.  This property is listed through Jim Sanders Realty, Inc for $616,900. The Maui Real Estate Team, Inc may represent you as buyer’s agents. Contact us quickly if you want to take a shot at this Wailea opportunity. At this list price, I can’t see this one being on the market much longer.

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