As the market continues its correction and micro-markets evolve through their own recovery phases, one of our focus areas is the Makena Real Estate market. As such, we are pleased to announce the sale of 22 Ualei today for $5M. The listing was offered by the Wailea Group on October 15, 2012 for $6.85M. Through a series of significant price adjustments, it was sold on June 4, 2013 for $5M.

Given the location of the home and view corridors, we feel that this is a strong value and further reinforces the value proposition of 37 Ualei Place, listed at $9.495M, which is arguably the most impressive of the One Palauea Bay luxury homes.

For first time homebuyers, saving up enough for a down payment and closing costs can be a lengthy endeavor - particularly in today's lending environment, where many lenders still impose restrictive criteria on borrowers.

In addition to the FHA and VA loan programs, as eligibility requirements allow, another program that has been very successful in getting first time homebuyers into the door is the USDA loan program. Although most of Maui County was eligible for USDA loans, the areas of Wailuku and Kahului were not - presumably due to their comparatively higher density.

But it is with great pleasure that we announce that as of now, the USDA loan program will be available for purchases of Wailuku Real Estate. Here are some quick facts of the USDA

For the foodie in you, one of the most celebrated events in Wailea is set to return from May 26th to June 1st:  "Restaurant Week Wailea". With a total of 19 restaurants participating, it is bound to appeal to every taste palette. The pre-fixe, 3-course menus will be priced $29, $39, and $49 per person, with price depending on the participant restaurant.

Alan Wong's Amasai at the Grand Wailea Redefines Wailea Luxury Culinary Experience

Bud Pikrone, GM for the WCA, said: "Thousands of dollars have been raised from each Restaurant Week Wailea celebration and we look forward to once again supporting the Maui Food Bank."

In alphabetical order, the participants are:

Alan Wong's Amasia (Grand Wailea)     
Bistro Molokini
Capische?* (Hotel Wailea)