Selling Wailea or Makena Luxury Real Estate takes more than just putting it on the market. Maui’s real estate market is influenced by many factors. Setting a solid strategy is key to obtaining the most equity.
Whether you are selling a primary home, vacation rental condo, land, or investment property, the right approach will help attract Buyers and allow you to negotiate better terms and close faster. These expert tips will guide you through the process and maximize your return.
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PREPARING YOUR PROPERTY FOR SALE
While Wailea and Makena are coveted South Maui Resorts that practically sell themselves, today’s discerning buyers expect more than ocean views and tropical breezes. By preparing your property correctly, you can transform it from another listing in paradise to the one that buyers remember.
Here’s how to get your property in tip-top shape to stand out in Maui’s competitive market:
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Declutter, clean, and depersonalize
Since buyers want to imagine themselves living in your space, the first step is to declutter and remove personal items. Go through each room and:
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Pack away family photos, keepsakes, and personal decor. A clean, neutral, and depersonalized environment allows buyers to focus on the home’s features and picture how they’d use the space.
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Reduce furniture and knick-knacks. This makes the space feel larger, more open, and more inviting. Too much furniture can make rooms appear cramped, while excessive decor distracts buyers from focusing on the home’s features.
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Deep clean every nook and cranny. Pay special attention to kitchens and bathrooms since these are the areas that buyers typically prioritize.
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Enhance your home’s curb appeal
Boosting your home’s curb appeal is essential because it creates a strong first impression for potential buyers. The exterior is the first thing that buyers see and a well-maintained, inviting facade can set the tone for how they perceive the rest of the property. If the outside looks appealing and cared for, buyers are more likely to feel confident about the home’s overall condition. To boost curb appeal:
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Landscape your yard. Trim shrubs, mow the lawn, and replace any dead plants with fresh greenery or tropical flowers.
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Wash and repaint as needed. Power wash the exterior, repaint the trim, and consider a bold yet tasteful color for your front door.
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Add outdoor touches. A few potted plants, a clean porch, and a freshly painted fence can make your property feel more welcoming and inviting.
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Address the repairs and upgrades
Leaky faucets, chipped paint, or outdated fixtures might seem minor, but they can make buyers think that the home needs additional work or investment. Tackling these repairs right away shows that the home is well maintained and move-in ready. Here’s how you can do it:
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Fix the basics. Repair leaky faucets, squeaky doors, chipped tiles, and burnt-out lightbulbs.
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Paint walls in neutral tones. A fresh coat of paint in soft, neutral shades like off-white or light gray creates a clean and modern look.
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Replace worn fixtures. Swap outdated cabinet handles, light fixtures, and doorknobs for stylish, contemporary options.
For bigger returns, consider upgrading the kitchen and bathrooms. Even small updates in these spaces can have a significant impact on buyers.
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PRICING YOUR PROPERTY STRATEGICALLY
In the luxury Wailea and Makena Resorts, pricing a property requires a mix of market knowledge and smart strategy. While ocean views and resort-style amenities add significant value, even the most stunning homes or condos for sale should be priced carefully.
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Get a Comparative Market Analysis (CMA)
Strategically pricing your Wailea and Makena properties starts with a thorough Comparative Market Analysis (CMA). By reviewing recently sold properties with similar size, location, amenities, and condition, you can establish a solid pricing strategy that gives you a competitive edge. Your professional Realtor can be a great asset.
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Focus on sales from the last six months, as a property sold a year ago may no longer reflect the current market conditions. Since Maui’s real estate market can fluctuate, it’s important to use recent data for your CMA.
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Location is another important factor to consider in your CMA. Properties closer to Wailea’s pristine beaches or Makena’s championship golf courses often command higher values. Ocean views are highly important.
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Unique features like private pools, tropical landscaping or updated interiors should also be considered in setting the right price.
In addition to a CMA, consider hiring a professional appraiser to provide an unbiased opinion of your home’s value. This adds another layer of credibility to your home price and provides solid evidence during negotiations.
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Know the current market conditions
Understanding whether you’re in a Buyer’s or Seller’s market is crucial when pricing your property. In a competitive Seller’s market, you may have more flexibility to price higher while a Buyer’s market requires more conservative pricing
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Determine if there are many properties available in your area or if inventory is limited. Is there a strong demand in Luxury Real Estate in Wailea and Makena, or has the demand softened?
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Find out the Days On Market (DOM) similar homes are taking to sell. Properties priced too high often linger, which leads Buyers to question why?
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Avoid overpricing
Setting a high price to leave room for negotiation may seem like a good idea, but it can backfire in Maui’s luxury market. Properties priced more than 3% above market value often sit on the market longer and these homes that linger typically require price reductions, which again may encourage Buyers to ask why?
To avoid overpricing, review the expired listings in Wailea or Makena that didn’t sell. More often than not, the issue is the unrealistic pricing. Overpricing can make your home less appealing to buyers over time. That’s why it’s better to start with a reasonable and competitive price to ensure your home initially attracts qualified Buyers.
MARKETING YOUR WAILEA OR MAKENA PROPERTY
Selling your Wailea or Makena real estate requires a well-thought-out marketing plan to attract the right buyer. Here’s how you can market your home effectively:
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Highlight your property’s unique features
Wailea and Makena offer some of the most sought-after real estate on Maui. Buyers are drawn to panoramic ocean views, proximity to world-class white sand beaches or golf courses, lush tropical landscaping, spacious lanais and private pools may also be a factor.
To capture these features effectively:
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Invest in professional photography and videography. High-quality images and videos make a lasting impression on online platforms and can capture the attention of more Buyers.
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Consider adding virtual tours or drone footage to highlight your property’s surroundings, such as nearby beaches, mountain views, or gardens.
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Stage your home
Staging is essential for making your home feel inviting and helping buyers envision themselves living there. In Wailea and Makena, staging should highlight Maui’s natural beauty and island charm by maximizing natural light with sheer curtains and clean windows to create a bright, airy feel.
Don’t overlook outdoor living spaces as well. Highlight your lanais, pools, or gardens by setting up seating areas with candles, cushions, or fresh greenery to create a private oasis. And if it’s possible, consider hiring a professional stager.
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Utilize different marketing platforms
In today’s digital age, attracting buyers requires a multi-channel marketing approach. Your comprehensive marketing plan should include:
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Listing your property on multiple listing services (MLS) and major real estate platforms
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Using social media platforms like Instagram and Facebook to share photos, videos, and updates
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Print media, direct mail campaigns, or flyers to target local buyers
Your agent can also network with other real estate professionals to bring in qualified buyers.
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Be ready for showings
Many buyers, especially those from out of town, may request last-minute appointments. That’s why it’s important to be flexible with showings to make the most of every opportunity. Keep your home in showroom condition at all times to make the best impression and accept as many showing requests as possible to boost your chances of a quick sale.
NEGOTIATING EFFECTIVELY
When selling a property in Wailea or Makena, every conversation with a potential buyer shapes the final outcome. While many sellers shy away from negotiations, approaching it as a collaborative process (rather than a battle) leads to the most rewarding results. Here’s how to go about it:
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Prepare for negotiations
The first step to a successful negotiation is thorough preparation, which starts with understanding the market. Familiarize yourself with local trends, recent sales, and the current demand for properties in Wailea and Makena. Knowing all of these helps you evaluate offers with a clear and realistic perspective.
When you receive an offer, take the time to review all aspects carefully – not just the price. Consider contingencies, the buyer’s financial qualifications, settlement dates, and any included items like appliances or furniture.
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Be open to counteroffers and multiple offers
Offers often require some level of negotiation, giving you the option to accept, reject, or counter them. When countering, adjust the terms strategically such as the price, contingencies, or closing costs to create a win-win scenario. For example, you might agree to handle certain repairs in exchange for a higher purchase price. This approach ensures that both you and the buyer find value in the agreement.
If you receive multiple offers, evaluate each one carefully. Remember that the best offer isn’t always the highest price. A lower offer with fewer contingencies or a quicker closing timeline, for instance, might be more advantageous.
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Address any findings from the buyer
Once an offer is accepted, the buyer will most likely conduct their own inspection. Be ready to negotiate based on their findings and be transparent if there were any issues uncovered during the inspection. This might include making repairs, providing credits, or slightly adjusting the sale price. It’s also important to know your bottom line. Decide in advance how much you’re willing to spend on repairs or concessions to keep the process moving forward while still meeting your goals.
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Be flexible
Flexibility is often the difference between closing a deal and losing one. Being open to compromise on certain terms can make your property more appealing to buyers. One example is adjusting the closing date to fit the buyer’s schedule. Including appliances or furnishings in the sale can sweeten the deal and make the property more attractive. Another area where flexibility can help is with repairs or credits. Instead of completing repairs yourself, offering a credit may simplify the process and satisfy the buyer while saving you time.
CLOSING THE SALE
Closing the sale of your Wailea or Makena luxury real estate property is the final milestone in the selling journey and one of the most significant. It’s the moment when ownership is officially transferred and the final paperwork is completed. While this last step might feel complex, staying organized will ensure a smooth and seamless transition.
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Prepare for closing
Once you’ve accepted an offer, it’s time to focus on meeting the requirements outlined in the contract.
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Home inspection and appraisal. During the closing process, the buyer will most likely arrange for the home inspection and appraisal. If you’ve agreed to complete certain repairs as part of the sale, make sure they’re finished before the closing date.
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Contingencies, such as financing or inspection clauses, must also be resolved before the sale can proceed.
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For example, if a financing contingency is in place, the buyer must secure a mortgage before the purchase can be finalized. If they fail to obtain financing, they won’t be able to complete the purchase.
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Another example is an inspection contingency, which allows the buyer to renegotiate or request repairs if issues are found during the home inspection.
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If these concerns aren’t addressed, the buyer may walk away or demand concessions.
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Confirm the closing details
A few days before the scheduled closing, confirm all the details with the other party to avoid any last-minute surprises.
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Review the settlement statement. This document outlines the financial details of the sale, including the sale price, closing costs, and your net proceeds.
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Check with an escrow officer or attorney to ensure all the necessary documents will be prepared and ready for signing.
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Final steps
The closing process varies depending on location and in Hawaii, many closings occur through escrow. This means that sellers don’t have to attend in person because the escrow officer or attorney can facilitate the transaction on their behalf.
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If you opt not to attend, make sure to pre-sign the deed and other transfer documents in advance. Some documents require notarization, which can often be completed remotely or through a mobile notary for convenience.
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If you do choose to attend, the process is typically straightforward – it involves a final review and signing of documents.
Once the closing is complete, the proceeds from the sale will either be wired to your account or issued via check. And you’ll have successfully completed the process of selling your home!
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THE IMPORTANCE OF PARTNERING WITH A LOCAL LUXURY REAL ESTATE EXPERT
There’s more to selling a Wailea or Makena home than just listing the property. It’s about understanding the nuances of this unique market and showing your home to the right audience. That’s why working with a local luxury real estate expert can make all the difference in achieving a successful sale.
Here’s how a real estate expert helps:
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A local agent has in-depth market knowledge
The luxury market in Wailea and Makena operates differently from other real estate markets. A local luxury real estate agent understands the area’s specific trends, from buyer preferences to neighborhood dynamics. They can help you price your home accurately, showcase the perks of your property’s location, and strategically market your home to the right audience for maximum exposure.
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A local agent has tried-and-tested marketing strategies
Effective marketing is essential when selling a luxury property, and a skilled real estate agent will use a multi-faceted strategy to showcase your home. High-quality professional photography and videography are crucial because they capture the essence of your property for online listings, brochures, and social media campaigns.
Apart from digital marketing, an experienced luxury agent uses their exclusive networks to connect with high-end Realtors and serious buyers, including those searching for off-market opportunities. These connections make sure that your home gets the exposure it deserves within the right circles.
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A local agent has the negotiation skills
Luxury real estate transactions often involve complex negotiations. With a local agent by your side, you have someone who understands the intricacies of contracts and contingencies and makes sure that your interests are protected throughout the process. Whether it’s negotiating the price, terms, or repair allowances, an experienced agent knows how to structure agreements that work in your favor.
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A local agent knows how to streamline the selling process
Selling a luxury home can feel overwhelming, but a professional agent streamlines the process by managing every detail. From coordinating the showings to preparing for closing, a local luxury agent knows how to keep the sale on track. With their support, you can focus on your next chapter while they handle the logistics.
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A local agent has the network and connections
Apart from the expertise, a seasoned luxury agent has the connections that can make all the difference in selling your home. With established relationships among high-end realtors, serious buyers, and exclusive networks, they can attract qualified prospects who are actively searching for properties like yours. Unlike traditional listings, luxury homes for sale in Wailea and Makena often require a more targeted approach, and an agent’s personal referrals and industry contacts help connect your home with the right buyers quickly.
SELL YOUR HOME WITH MAUI’S TOP REAL ESTATE TEAM
Selling a luxury real estate in Wailea or Makena is all about maximizing your investment and attracting the right buyers. By understanding the market trends, setting the right price, and working with an experienced real estate professional, you can position your property for success.
If you’re thinking about selling your Wailea or Makena property, Dennis & Martha Rush offer decades of luxury real estate expertise combined with deep local knowledge. As COMPASS Hawaii Founding Brokers and members of the exclusive REALM Global network, they bring both innovative marketing strategies and global connections to each transaction.
Browse Dennis & Marthia’s sold properties here
Maximize your property’s potential by getting in touch with Dennis & Martha Rush. Call 808.280.0788 or send them an email.
