An $18.5 million South Maui home sale today became Maui’s most expensive one so far this year, according to Island Sotheby’s International Realty.
Originally listed at $19.9 million, the six-bedroom, seven-bathroom home on about an acre in Wailea-Mākena saw high interest and sold in about three weeks.
Representing the listing, Ryan MacLaughlin, owner and principal broker of Island Sotheby’s International Realty, said he has spent years in the past marketing similar properties that don’t sell. Now, the post-pandemic demand is high due to low inventory, the same as it is in the non-luxury market.
“In the 2020, 2021 and now 2022 market, we’re getting the same amount of views on this property in the first week than we would have in four years,” he told Maui Now. “It’s that crazy.”
Inside the 6,860-square-foot house at 37 Ualei Place, there are six private master suites, a home theater, a large gourmet kitchen, Egyptian limestone flooring, custom mahogany windows, carved doors and a Balinese-style roof of iron wood diamond cut shingles, according to its listing.
Outside, three separate pavilions are connected by covered lānai, and the space includes a central garden, cascading waterfall, sunken cabana, vanishing edge pool and hot tub.
MacLaughlin said the uniqueness about the property is that “pods” are located under one roof, so the area has an indoor-outdoor feel. The pods are based around a central, four-sided bar where people typically congregate.
“There is separate living but you are still connected,” he said.
MacLaughlin represented the sellers, who are longtime clients.
He said the buyers were seeking privacy, and the home is set farther back from the ocean than others in the luxury market.
Maui County in January set a new record of $1.16 million for single-family home median sales prices. Then in February, condos reached a historic high of $730,500 for median sales price.