Oceanfront Maui estate sells for $18.5 million after renovations

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A waterfront estate in Makena, Maui, has sold for $18.5 million. The property was extensively renovated to enhance its appeal before going to market. Its listing price was revised downward from an earlier, higher figure. The sale comes as Hawaii's ultra-luxury segment, particularly homes priced above $10 million, has been softening. Still, the transaction points to continued demand for distinctive coastal properties.

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