But, you get the piece of mind knowing it’s likely done correctly.

It does feel like there is likely a major market correction coming, but due to limited inventory of vacation-rentable units in Maui I feel like I should be somewhat more protected from the effects of said recession.

@Dennis Boettjer - everyone's comments above are correct. 

You may want to think about working with a realtor or a really good attorney to make sure you are set up correctly to start off in the best possible situation. 

You are probably correct.

Yes, wholesaling is tough to break into and to do it correctly is to have a good foundation of knowledge on the subject. 

The current property would be viewed as being owned by me outright with no mortgage since there would be no lien holder on the title, correct?

@Josie Sandoval, correct, this is very common.

Do you think that could lead to a price correction or just a plateau?

You are correct.. don't educate when you lack ETHOS (trust/credibility).