Two Slices of Paradise: Twin Properties in Ultraexclusive Maui Gated Community Hit the Market for $34M+

by Isabella Bernabeo

Two ultraexclusive properties nestled behind the gates of Maluaka Estates, one of South Maui’s most prestigious communities, have hit the market for a combined asking price exceeding $70 million.

Represented by Robert H. Merriman of Discovery Makena Realty, LLC, the dual offerings present two distinct pathways to luxury living on the Makena coastline.

The higher-priced offering, located at 34 Maluaka Place and listed for $36.9 million, represents a completed oceanfront estate built for immediate enjoyment. Spanning 6,517 square feet, the five-bedroom, 5.5-bath sanctuary was designed around seamless indoor-outdoor island living.

Retractable glass walls open the primary gathering spaces to panoramic Pacific Ocean views, framed by bespoke wood paneling and organic stone textures. The primary suite serves as a private wing, finished with a spa-inspired bath.

Outdoors, the residence features two expansive covered lanais, alfresco dining pavilions, a private spa, and native Hawaiian landscaping framed by mature palms. Offered completely turnkey, the sale includes curated designer interiors, outdoor lounging collections, and two low-mileage luxury SUVs.

Open-concept double-height living and dining space with rich wood paneling and large sliding glass doors framing ocean views. — The higher-priced offering, located at 34 Maluaka Place and listed for $36.9 million, represents a completed oceanfront estate built for immediate enjoyment. (Realtor.com)

Outdoor stone patio with an in-ground hot tub, tiki torches, and lawn space looking out to the ocean at sunset. — Spanning 6,517 square feet, the five-bedroom, 5.5-bath sanctuary was designed around seamless indoor-outdoor island living. (Realtor.com)

Spacious primary bedroom suite with a vaulted wooden ceiling, ceiling fan, and sliding glass doors opening directly to ocean views. — The residence features two expansive covered lanais, alfresco dining pavilions, a private spa, and native Hawaiian landscaping framed by mature palms. (Realtor.com)

The dwelling was originally purchased in 2009 for $7 million by retired healthcare executives David Ludwig and Rebecca Kapustay.

Just down the drive sits 18 Maluaka Place, an unbuilt lot listed at $34 million. Public records show this 0.57-acre parcel was acquired for $6.7 million in December 2025. The $34 million asking price reflects a complete, predesigned lot-and-house package rather than a standalone land sale.

Under this two-step arrangement, the buyer first closes on the land parcel by a standard purchase agreement, followed immediately by entering into a separate construction contract with the builder to deliver a proposed 7,498-square-foot custom estate.

By acquiring the land and submitting architectural plans to Maui County, the developer aims to eliminate years of preliminary design and entitlement reviews for the future owner.

The proposed design would include soaring ceilings, glass walls, dual-level outdoor entertaining decks, and a private pool. The mansion is slated for completion in 2028.

Architectural rendering of an open-concept living area with floor-to-ceiling sliding glass doors opening to panoramic ocean views. — Just down the drive sits 18 Maluaka Place, an unbuilt lot listed at $34 million. (Realtor.com)

Architectural rendering of a modern two-story home with a swimming pool deck at dusk. — Public records show this 0.57-acre parcel was acquired for $6.7 million in December 2025.

Additionally, both properties offer inquiries about membership application rights to the neighboring Makena Golf & Beach Club, providing access to its private championship golf course, wellness spa, dining venues, and ocean recreation program.

Maluaka Estates consists of only 13 custom estate sites, making two concurrent listings a rare market event.

While 34 Maluaka Place caters to buyers prioritizing an established, move-in-ready home on day one, 18 Maluaka Place targets visionary buyers seeking a brand-new architectural footprint built to modern specifications.