Today, the Monastery of St Benedict is maintained thanks to its patrimony and the donations collected in the chapels of the Church of Our Lady of the Mount, Olinda, and the Church of Our Lady of Pleasures in Montes Guararapes.

In the vicinity of Varadouro da Galeota in 1597, the priests acquired a farm known as Olaria, which was later expanded through the acquisition of three more surrounding lots. Construction of the monastery was completed in 1599.