First we had the Kapalua oceanfront sale for $13.9 million. But by the end of the day that was old news. 7150 Makena Road, 4800 square feet of home on over 1.5 acres, hidden from the road by a beautiful stone wall and sitting directly upon the Pacific Ocean, closed today for $19.2 million after being on the market for only a few weeks. That is a rare price for a rare property.

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In the last week, the dominant trend has been reduction of listing prices. 364 Kualono in Pualani has reduced its price from $2.645 million to $2.495 million after two months on the market. 135 Waaula in Wailea Kai has reduced its asking price $70,000 to $1.125 million after nine months on the market, 117 Manolo in Golf Vistas has reduced by $100,000 to $2.5 million, 152 Heleuma in Kialoa dropped their price to $1.595 million and 197 Halau Place in Golf Estates dropped their price to $2.575 million after ninety days on the market. But we have had some good news. 4290 Melianani in Wailea Highlands has closed its sale for $6.85 million after approximately a year on the market. That home had originally been listed for $$8.9 million. 3134 Kikihi in Kialoa sold for $3.2 million after just over a month on the market. So the news this past week has been mixed. So far this year, no residential homes in the resort areas have gone into escrow.

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The Ritz Carlton Kapalua has made some modifications to their renovation plans .

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According to Dataquick, prices in Southern California crept higher in December, while unit sales remain very low.

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Today's Forbes.com, the magazine for the entrepreneur, lists ten keys to selling your home in 2007. Here are some key points from the article in Italics and some commentary from us.

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We are pleased to announce the listing of 100 Po'ailani Place in Wailea's newest development, Kanani Wailea. Kanani Wailea is being built by the same developers who built the Vintage on the Ka'anapali hillside. This complex of thirty eight residential condominiums sits on eight acres at the entrance to the Wailea Resort and will be gated as well as offering a pool, exercise and recreation area. Kanani Wailea is pet friendly and is expected to be completed in the late March or April time frame.The units come in three and four-bedroom configurations of between 1900 and 2300 interior square feet, almost all with ocean views, many of them spectacular! In addtion to the interior space, all the units have two car garages and large lanais. 100 Poailani is the BG-Nalu one story floorplan and boasts three bedrooms, an office, four full baths, granite counters, travertine floors, Wolf, Sub-Zero and Bosch appliances, volume ceilings, African mahogany doors and trim, Leicht cabinets, a huge cast iron bathtub, large lanai with automatic Sunscreen shades and excellent ocean views. This unit is listed for $2.3 million. Sean Crowley owns this unit.

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The proposed South Maui ambulance station is in the SMA process. The Draft EA and the SMA application have been completed and recently submitted to the County for review. Some Wailea residents have indicated a desire to assist in finding ways to raise funds for the construction of this station. Anyone interested in being part of the WCA's  Ambulance Fund Committee should contact the WCA office.  There will be a meeting of the new committee on January 16, 2007 at 2:00 p.m. in the WCA conference room.

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In the past two weeks, condominiums for sale in Wailea have increased from eighty-two to exactly 100. And judging by the meetings we have been having with clients, more will be coming in the next few weeks. This is not all that surprising given that the heavy selling season has commenced, but we have not yet seen a burst of buying from visitors to keep that inventory from swelling further. Of the 100 units for sale, just under half are in oceanfront complexes.

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Arnold Palmer, Jack Nicklaus, Tom Watson, Raymond Floyd and Gary Player have over forty, FORTY, major championships among them. You can see them all play at the Wailea Gold Course on Saturday and Sunday in the Wendy's Skins Game. Sure these gentlemen are somewhat past their peak, but how often does one get to watch a sports immortal up close, let alone five of them? Well, in Wailea? Every year.

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The activity level is beginning to pick up. 3139 Kikihi Street, a very nice 3163 square foot home in Kialoa with nice ocean views has been placed in escrow. That home was listed for $2.85 million. 3235 Pikai Way in Wailea Kai has also gone into escrow That home is newly renovated ands boasts 2931 square feet of living space with a garden view. That home had been listed for $1.595 million. Both of those homes had been on the market for less than 30 days. Several Kai Malu units and several Kanani Wailea units are now available on a resale basis. Residential inventory of almost fifty units for sale is the highest in over six months.

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