The Keala o Wailea Owner Occupant Sales Notice was published on The Maui News, page B8, today July 13, 2015. Below is a copy of what was published:
Keala o Walea Owner Occupant Sales Notice
Keala o Wailea LLC (“Developer”) is developing a condominium project located at 55 Wailea Gateway Place, Wailea, Hawai’i, to be known as “Keala o Wailea” (the “Project”). The Project is planned to consist of seventy (70) fee simple residential condominium units in seven (7) three-story buildings. The land on which the Project will be located is identified by Tax Map Key No. (2) 2-1-28-1.
The initial increment of the Project that will be released for sale consists of 30 units in three buildings. This is a public notice that the Developer has designated the fifteen (15) fee simple residential condominium units of the initial increment of the Project identified below as Owner-Occupant Units (the “Owner-Occupant Units”). The designated units constitute a proportionate representation of all of the units in this increment of the Project. For a thirty (30) day period commencing on July 13, 2015 the Owner-Occupant Units will be offered only to prospective purchasers who will use an Owner-Occupant Unit as their principal residence for a period of not less than three hundred sixty-five (365) consecutive days.
The Units have appurtenant lanais of varying sizes, inquire with the Project broker. The Developer reserves the right to substitute designated units with other similar units.
The Owner-Occupant Units will be made available by public lottery to be held at 11 a.m. on July 26, 2015, at Fabiani’s Wailea, Wailea Gateway Shopping Center, 34 Wailea Gateway Pl Ste A101. Prospective Owner-Occupants may contact the Project broker, Wailea Realty Corp. at The Shops at Wailea, 3750 Wailea Alanui Suite B-16, Wailea, Maui, Hawaii 96753, phone (808) 879-1991 to receive an Owner-Occupant Affidavit and Developer’s Public Report and to register for the lottery. In order to participate in the lottery a prospective purchaser must no later than 5 p.m. on July 25, 2015 submit to the Project broker a signed Owner-Occupant Affidavit. If two purchasers intend to reside in a unit together only one shall be entered in the lottery. Each purchaser registered for the lottery shall be given an opportunity, in the order in which they are selected, to select an Owner-Occupant Unit, sign a Sales Contract and Receipt and submit an earnest money deposit in the amount of 5 percent of the purchase price of the selected unit. If all of the designated units are selected at the lottery, any remaining purchasers who participated in the lottery and who submit an earnest money deposit of $10,000 shall be placed on a back-up reservation list in the order in which they were selected.
Interested persons should contact: WAILEA REALTY CORP • 3750 Wailea Alanui, Suite B-16 • Wailea, Maui, Hawaii 96753 Phone. 808.879.1991 or visit www.kealaowailea.com
This is not intended to be an offering or solicitation of sale in any jurisdiction where the project is not registered in accordance with applicable law or where such offering or solicitation would otherwise be prohibited by law. Obtain and read the Developer’s Public Report for the project required by the laws of the State of Hawaii.