The Wall Street Journal Friday, August 8, 2003 Taking Hawaii's Breaks THE DOT-COM MELTDOWN sent some disastrous waves through high-end real-estate in Hawaii -- and the luxury market there is still recovering. One example: Chicago based developers PRM Realty Group, which had 13 of its 14 oceanfront parcels on Maui under contract at the beginning of 2001. By the end of that year, all but three of those deals at its Maluhia at Wailea had fallen apart. Now PRM is trying a new strategy: selling finished homes rather than just land. The homes, ranging in price from $6 million to $18 million, have access to a private club on white-sand Mokapu Beach and a resident concierge. For an extra $1 million, buyers can have their homes decorated by Crisscross, the design firm lead by Larry Frej, a former conservator at New York's Metropolitan Museum of Art. Though Maluhia isn't back to its 2001 sellout levels, the new tack does seem to be helping -- so far, seven of the 14 parcels and homes have sold -- giving PRM enough confidence to launch projects in New York state, the Caribbean and Monaco.