Among the string of recent South Maui developments is the new owner of Shops on the Green in Wailea, which will soon become Wailea Village Center. The new owner is Burnham USA, a California developer that intends to expand the establishment to 45,000 square feet, which is double its current size.
If you've visited or passed by the Blue Course at Wailea Golf Club, the center is located there on 6.3 acres, and includes 22,000 square feet of retail, office building and golf facility space. The firm plans to expand it by 23,000 square feet of retail space, and intends to begin immediately.
Currently, the center houses Coldwell Banker Residential Real Estate, Wailea's Urgent Care Medical Facilities, Waterlily Women's Fashions, Manoli's Italian Restaurant along with other tenants. It also includes the Old Blue golf facilities, a pro shop, its offices, along with a golf cart storage facility.
Evidently, Burnham USA has had its eye on potential investments in several areas of Hawaii for years. According to CEO Scott Burnham, "securing a quality project in Wailea is a real coup." He further pointed out the affluence of Wailea as a desirable quality as it applies to enhancements.
Commercial real estate continues to provide opportunities for savvy investors, but so does residential real estate in South Maui. Although inventory has shrunken considerably, Kihei continues to see the highest condo sales volume and the second highest home sale volume on the island, based on the most recent year to date statistics from the Realtors Association of Maui.
If you're in the market for residential real estate in South Maui, you'll find our contact information at the bottom of the page. We'd be happy to assist you through every step of the process. Mahalo!
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