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Grand Wailea Maui Sold at Foreclosure Auction

The Grand Wailea on Maui has new ownership after it was sold at Foreclosure auction in New York this past Friday. The Grand Wailea was one of several properties previously owned by CNL Hotels & Resorts Inc, that were then acquired in 2007 by a Morgan Stanley’s real estate fund. The properties were taken back from Morgan Stanley by by investors who held junior debt on the portfolio, after Morgan Stanley defaulted on the debt.

For more from the Star Advertiser click here.

What are your thoughts of foreclosures and how they’ve affected Maui real estate? Have we seen the worst? Or is the worst yet to come? Please join the discussion. We’d be glad to hear your feedback.

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About The Smith Team

Ken Smith, a Maui resident for 35 years, brings his extensive local knowledge and passion for the island to his successful real estate career. Alongside his daughter-in-law, Melissa Smith, and Greg Smith, the Smith Team provides a wealth of experience and dedication to clients seeking to buy or sell property in Maui.

Melissa Smith, a third-generation Maui native, combines her deep understanding of the island's growth with a commitment to exceptional service. She empowers clients with knowledge to make informed decisions in finding their dream homes. With a background as a top agent and a Broker's license, Melissa's expertise is invaluable.

Gregory P. Smith, a lifelong Maui surfer, channels his passion for the island and its natural beauty into his real estate profession. His enthusiasm, deep market knowledge, and dedication to exceeding client expectations make him an exceptional agent.

The Smith Team's combined local expertise, commitment to client service, and understanding of the unique Maui real estate market make them an ideal choice for those looking to navigate the island's property landscape. Their proven track record ensures a smooth and successful experience for both buyers and sellers.