Hawaii Life Real Estate Brokers » Beth Thoma Robinson, R(B)

Oceanfront Price Reductions in North Kohala (Hawi)

Beth Thoma Robinson, R(B) — Thu, 02 Feb 2012 01:15:24 +0000

I took my dog whale watching along the oceanfront near Hawi this morning. Technically, it was his daily run, but this time of year most of our favorite places to walk offer fabulous opportunities to spot whales. From home I can see whether the windmills near Hawi’s Upolu Airport are turning lazily, briskly, or not at all…and in calmer winds, one of our favorites is the walk along Hoea flats next to the 88-acre oceanfront parcel for sale.

This 88-acre oceanfront parcel (MLS# 231242) adjacent to the runway below the windmills was just reduced to $1,588,000

Oceanfront Foreclosure Still Available at Screaming Deal Price

The whales seem to prefer to hang out a bit to the east of this airport property, where I’ve often seen them up close and personal from the oceanfront mansion that is back on the market as a bank-owned foreclosure. When last I blogged about this property, it had been reduced to $4 million…and now it is offered for only $3,150,000. That’s for over 13,000 sq. ft. and 20 acres!

Whale watching from your living room for $3,150,000 in this foreclosure (MLS# 244454)

If you like the location, but not this estate home, which has sensibility a bit more Waterford chandelier than tiki torch, the adjacent 20-acre lots also had their prices reduced last week to $1,050,000 (MLS# 231244). Technically not oceanfront because the county requires the oceanfront to be assigned to a single parcel in these small gated subdivisions, these front row lots are effectively oceanfront with only a narrow strip of conservation-zoned land in front of them.

Two 20-acre parcels to the right of the mansion in this photo were reduce to $1,050,000 each

125 Acres for Large Oceanfront Compound or Development Opportunity

Continuing east from Hawi to Kapaau town, another large oceanfront parcel of land also had its price reduced this month from $4,950,000 to $3,988,000 for 125 acres. One might ask what makes a parcel of 125 acres worth $4 million when the 88-acre parcel a few miles away is offered for less than half the price? Try half a mile of ocean frontage; subdivision potential (which also means a savvy buyer could subdivide solely for the purpose of legally building multiple dwellings for a family compound); and no risk of one’s calm and privacy being disturbed by operations at the adjacent airport or windfarm.

Oceanfront 125-acres is currently grazed by cattle; oceanfront compound or equestrian estate? (MLS# 244771) now $3,988,000

Eight other nearby Kohala parcels of vacant land, 7 to 50 acres with big ocean views, were also subject to price reductions recently, reflecting the market perception that prices have dropped 20%-25% in the last year. With the winter rain turning pastures green and the whales singing, it’s certainly a good time to show oceanfront property in North Kohala and along the Kohala Coast!

A hui hou!
Beth Thoma Robinson, R(B)

Big Island Horse Properties: Waikii Ranch or Puu Lani Ranch

Beth Thoma Robinson, R(B) — Wed, 25 Jan 2012 01:31:35 +0000

This month, I am assisting several prospective buyers with similar criteria: they own horses and are interested in properties for sale in a Big Island gated community with shared equestrian facilities. There are two options:

Puu Lani Ranch which is near Kailua Kona
Waikii Ranch which is near Waimea (Kamuela)

For those of you who are horse owners, that is gated horse properties, not gaited horse properties…as far as I know, the CC&Rs have no restrictions as to breed or riding disciplines! However, for the equestrian, one of the criteria in looking for a property is often to find like-minded horse owners, whether that means interest in trail riding or dressage competition, natural horsemanship, or reined cowhorses.

There are similarities and differences between Puu Lani and Waikii, some of which matter to all buyers, not just those interested in equestrian pursuits.

Similarities between Waikii Ranch and Puu Lani Ranch

The general similarities:

Both are gated communities with a rural ranch feel, yet an easy 15-minute drive from a “town” with shopping, restaurants, hospitals, and schools.
Both have CC&Rs with design guidelines to promote a certain consistency in the community.
Both have monthly dues to maintain amenities and common areas of the ranch, and have private water systems, which means more expensive rates than county water.
Both are at cooler elevations – 1,800′ above sea level for Puu Lani and 3,500′ above sea level for Waikii Ranch.
Both have drier climates…although it will green up in winter, when you imagine the environment, think Rocky Mountain ranch rather than New England farm…let alone tropical rain forest.
Both offer amenities for the non-horse lover in the family; you’ll find tennis courts and a workout room. At both places, many homes have boats in the driveway…in my household, some prefer riding the waves to riding horses, so I understand the lifestyle choice.

Differences in Homes, Lifestyle, Equestrian Facilities

If you want to keep your horse in a barn next to shared amenities, Puu Lani is the place

Puu Lani Ranch

The concept at Puu Lani Ranch is that lots are only 1 to 1.5 acres on average…enough distance to provide privacy from the neighbors, but not intended for backyard horses. Instead, Puu Lani Ranch offers 16 stalls at the central barn next to the riding ring and round pen. This means that even at maximum capacity, a relatively small percentage of home owners are going to be horse owners, and there is relatively little competition for use of the facilities.

Currently, vacant lots at Puu Lani are available for around $99,000 (the developer has some larger lots at higher prices). There are only 5 homes currently for sale at Puu Lani Ranch, priced from $319,900 (for a “REO” bank-owned after foreclosure), to $887,000 for a 4,200 sq. ft. 4-bedroom home (MLS# 250153). The concept at Waikii Ranch is very different with larger acreages and mainly larger residences to match.

4-bedroom residence with 2-stall barn listed for $1,450,000 at Waikii Ranch (MLS# 251301)

Waikii Ranch

At the much larger Waikii Ranch, lot sizes range from 10 acres to 40 acres. Just eyeballing it, somewhere around 30%-40% of the properties at Waikii Ranch have horses, sheep, or even “Waikoloa nightengale” rescued donkeys grazing…and some of the homes currently for sale have their own barn and facilities. While there is no central barn at Waikii, owners ride their horses on the equestrian easements to the two arenas and polo field.

Waikii Ranch vacant lots range from $225,000 for a 10-acre lot (MLS# 250258) to $440,000 for 40 acres. The CC&Rs require a minimum house size of 2,400 sq. ft. although many are quite a bit larger. Currently, there are six homes for sale at Waikii Ranch (of which two are new on market in the past three weeks), at prices ranging from $950,000 to $7,999,999.

If your vision for your horse property is something different than what these two communities have to offer, there are other choices, both in gated communities (such as Ranch at Puakea), and outside of subdivisions where your only guidelines for building will be complying with zoning and building codes. Send me your checklist and I’ll send you some ideas!

A hui hou,

Beth Thoma Robinson, R(B)
Direct: 808.443.4588
Email: beth@hawaiilife.com

Kohala Coast Resort Deals (Four-Bedrooms or More)

Beth Thoma Robinson, R(B) — Sun, 15 Jan 2012 01:00:52 +0000

Increasingly in the luxury end of the Kohala Coast Resort real estate market, we find among our buyers close-knit families who often travel with at least three generations, or both sets of grandparents, or several adult siblings. For these buyers, a three-bedroom condo or home is a bare minimum; lately we’ve had some clients for whom three-bedrooms is not enough. If you are looking for a Big Island resort property with four bedrooms or more, there are only a handful of deals among the condos and homes for sale.

This entry level 4-bed home at Kukio (MLS# 249867) is listed for $4,490,000

What Does it Cost to Buy a 4-Bedroom Home at the Big Island Luxury Resorts?

“Deal” is always relative in Hawaii resort real estate! So, let’s establish a baseline. For the most part, whether at Hualalai, Mauna Kea, Mauna Lani, or Waikoloa Beach Resort, attached condos have three bedrooms at most. That means for four bedrooms you are mostly looking at a single family detached home with its own swimming pool, even if classified as a condo. That also means, for the most part, a price tag that jumps a step above the condo level.

For example, you have many choices in 3-bedroom condos at Hualalai Resort in the $2.5 million range and some older condos creeping below $2 million. A 4-bedroom home at Hualalai will cost $4+ million.

Similarly, at Mauna Kea Resort, you can buy a 3-bedroom Wai’ula’ula condo under $900,000; the least expensive 4-bedroom property for sale at Mauna Kea would be the Kauna’oa paired town homes at $2 million and up.

At Mauna Lani Resort, a 3-bedroom condo might sell for as little as $600,000 fully furnished at Fairway Villas or Golf Villas; the 4-bedroom Champion Ridge home that sold in 2011 went for $2.9 million, although there are homes listed in the Champion Ridge for well less.

Current Best Buys in 4-Bedroom Hualalai Resort Property

Lowest priced 4-bed home for sale at Hualalai is this Na Hale at Kahikole (MLS# 239153) for $4,550,000

Starting from the top, I don’t see a listing that represents a “deal” for 4-bedroom real estate at Haulalai Resort, but remember that Hualalai Realty dominates the real estate listings and they have every incentive to keep asking prices high. The trick is for the buyer to work with an agent who knows the comps and is willing to be aggressive with offers.

For example, there were two “deals” in 2011: the sellers of a Kai Molino Estates home listed at $3,150,000 accepted $1,999,900! This is an older property (1997 vintage); in newer homes, the “deal” tag goes to a sale at Hainoa Estates. Last year’s deal was a home listed for $4,950,000 that sold for $3,500,000.

The least expensive 4-bed homes currently listed are in Na Hale at Kahikole, priced right around $4.5 million. A similar home sold in 2011 for an even $4 million. These are 3-bedroom villas with a separate 4th bedroom guest suite. At Hainoa Estates, list prices are currently a bit higher than at Kahikole. The question is whether either of the current sellers, listed for $4,695,000 and $4,795,000, will accept below $4 million.

Current Best Buys at Mauna Kea Resort

The 4th bedroom in this Mauna Kea Fairways North home (MLS# 245034) is a separate “ohana;” asking price $2,695,000

Last year’s screaming deal was a home at the Uplands at Mauna Kea that was a REO (bank-owned after foreclosure). It sold for $1,050,000.

This year? I’ve already blogged about the developer closeout at Kauna’oa, but not every 4-bedroom buyer will like a paired home, and with the Kauna’oa floor plans, not all buyers consider the 4th bedroom a suitable bedroom. Among the other six homes on the market at Mauna Kea, the two lowest priced (Fairways North at around $2.7 million) each have a challenge, but they’ve been on the market for years, so I’d say make them an offer.

Four Bedrooms at Mauna Lani Resort

Second floor is a second master suite in this 4-bed Ka Milo floor plan (MLS# 246447) for $1,095,000

There IS a 4-bed condo floor plan at Ka Milo at Mauna Lani Resort. Its compact layout is well thought through to place a second master suite on a second floor directly above the ground floor master. The disadvantage for some buyers would be the lack of a private pool, but for the buyer who just needs four bedrooms and doesn’t mind the shared amenities, here is an option for only $1,095,000.

If you need your privacy and a pool, the entry level single family home community at Mauna Lani Resort is Champion Ridge. There is a home listed at $1,750,000 (MLS# 248964), almost a million less than anything else in there. Challenges: 2-story floor plan that many find odd and a lot that backs up to the road.

If your budget allows, step up to 49 Black Sand Beach, where the view or pool at any individual home is less of an issue when you can walk to the private beach club amenities. The lowest priced 4-bed home for sale at 49 Black Sand has been reduced to $2,995,000 (MLS# 226747)…and having been on the market almost 2.5 years, perhaps they are ready to make a deal.

Screaming Deals at Waikoloa Beach Resort

Single family home at Kolea (MLS# 226945) is now priced at $2,600,000 – less than a penthouse condo

Speaking of 2.5 years on market, look at the date stamp on the MLS photo for the house on Lot 16, Kolea at Waikoloa Beach Resort. Originally asking $4.9 million, the price is down to $2.6 million for this 5-bedroom home. Privacy is a plus; lack of ocean view a minus, but you are easy walking distance from the beach at Anaehoomalu Bay, or the restaurants and shops at the King’s Shops and Queen’s Marketplace. As recently as 2010, a 3-bedroom Kolea condo sold for $2,550,000, so for the right buyer, this is a deal.

Two Halii Kai condos connected to make a 6-bedroom unit; each master has its own lanai with ocean view…$1,030,00 each

Finally, if you want the most bang for buck defined as number of bedrooms for the price, here’s your deal: Halii Kai 8F (MLS# 249218) and 8G (MLS# 249216), two penthouse condos of 3 bedrooms each that have been combined with a door between. That gives you a total of 6 bedrooms with two master suites (each having its own lanai). The asking price for the pair is $2,060,000! Again, you won’t have a private pool, but if your family prefers to have the kids splashing in the big pool while the adults sip their mojitos at the Ocean Club bar and watch for whales, this is a situation one can truly call unique.

A hui hou,

Beth Thoma Robinson, R(B)

Regulations For Multiple Houses on Agricultural-Zoned Land (Big Island)

Beth Thoma Robinson, R(B) — Sat, 07 Jan 2012 00:45:17 +0000

One of the questions I’m most frequently asked when I show vacant land or homes on acreage in North Kohala is, “How easy is it to get permits to build multiple homes on agricultural zoned land?” They may have heard about “additional farm dwellings” or even be looking at a property where more than one structure exists. Some prospective buyers are looking for property suitable for a family compound, or a collective living situation.

In addition to this main home, a 6.8-acre Ag property near Hawi (MLS# 244094) already has a partially-built, permitted “additional farm dwelling”

County Code Governs Permitted Uses For Each Zoning Classification

The first place to start in understanding the rules for what can and can’t be built on land zoned “agricultural” in Hawaii County would be to consult Chapter 25 of the county code regarding zoning. This document can be found on the County website: Hawaii County Code (or email me for a copy of the relevant section).

For each zoning classification, the code specifies uses that are allowed as well as uses that are allowed with special permits. In most zoning categories, only one single family home is allowed. On Ag-zoned land additional farm dwellings may be permitted upon approval of an agreement submitted to the Planning Department with a farm plan or other evidence of the applicant’s ongoing agricultural use.

How many homes or additional farm dwellings would be allowed on, say, a 20-acre parcel? The Growth Management subcommittee of our North Kohala Community Development Plan (CDP) Action Committee recently met with a planning department representative to ask exactly that question.

Specific Current Guidelines For Additional Farm Dwelling Agreements

Assuming the applicant does have bona fide agricultural activity, the answer is that the first additional farm dwelling is allowed without conditions. The second farm dwelling would require proof that the resident worked at least 8 hours per week on the property; a third farm dwelling would require proof of 40 hours of farm work per week per farm dwelling.

Approval from the planning department is only the first step. All other building code and permit requirements for a residence must still be met.

One other caveat if you are thinking you’d like to have a “retreat” or “bed-and-breakfast” on your farm property; the North Kohala CDP directs the planning department to not approve any additional applications for special permits to allow overnight accommodations on land zoned agricultural in our district. Other districts might view these applications differently, so be sure to check with a Hawaii Life real estate agent familiar with the local environment in your neighborhood of interest.

Small, Moderately Priced Subdivisions in North Kohala

Beth Thoma Robinson, R(B) — Wed, 04 Jan 2012 20:48:37 +0000

Most of the entry level and moderately priced homes for sale in rural North Kohala are plantation-era homes clustered along the main streets: Akoni Pule Highway, Hawi Rd., Kynnersley Road. I’m often asked whether there are more private neighborhoods outside of the expensive gated communities such as Puakea Bay Ranch.

This 3 bed/2 bath home on Akoni Pule Highway in Hawi (MLS# 247037) is priced at $310,000

Handful of Homes For Sale in Small Kohala Subdivisions

By the way, when I say ‘entry level’ in North Kohala that means under $300,000 and moderately priced would be in the $500,000 range for a single family home. The vacant lots in these neighborhoods might be priced at $150K-$300K depending on size, location, and view. Typical lot size near the towns of Hawi and Kapaau would be 10,000 sq. ft. up to around 1 acre.

In the North Kohala Community Development Plan, it specifies that all future growth be within 1 mile of the existing towns of Hawi and Kapa’au. That is also where you’ll find the few more private side streets and cul-de-sac “subdivisions” where we currently have a handful of homes for sale.

Hanauala Subdivisions – Between Hawi and Kapa’au

There are only twelve lots on Hanaula Place, an enclave near Kapa’au town from which you can walk to Fig’s Mix Plate for yummy plate lunch or burgers. The home currently for sale is the fully fenced corner lot. Move-in ready, it has recently been spiffed up with new paint, tile, carpet, and appliances. The houses in this cul-de-sac were mostly built in the late 1990′s and so have more modern-feeling floorplans than the plantation-era homes.

Corner house in Hanaula near Kapa’au has mature landscaping for privacy (MLS# 250800) for $425,000

Adjacent to Hanaula Apo is a newer subdivision called Hanaula Village, which is not currently being marketed. The developer sold only a handful of 10,000 sq. ft. lots before deciding to wait for the market to rebound. However, he built a model home and it is now for sale. It features all of today’s must-have finishes: granite countertops, travertine and hardwood flooring, hence the asking price of $549,000 (MLS# 246594).

Homes For Sale on Quiet Side Streets Near Kapa’au

Two bed/two bath home has character: 1,181 sq. ft. asking $395,000 (MLS# 250927)

Continuing towards Kapa’au town, one of my favorite streets was named “Noname.” Was, not is, because finally the residents of this small road have lost their battle with the county and the new sign reads “Palai Pl.” Not a bad name for the street as palai is a beautiful fern. However, the listing for the only home for sale on this street still reads “Noname Place,” so you might not find it on your own (Hint: look between the dentist’s office and the Kapa’au veterinary clinic). The house was purchased as a REO (foreclosure) a year ago for $290,000 and is back on the market at an asking price of $395,000. My guess is they were waiting for “high season” and for the inventory of listings to shrink before trying to sell.

Vacant Lots For Sale Near Kapa’au

One-acre lot available for $299,000 (MLS# 244706) – garden or keep a horse right in Kapa’au

If you would rather buy a vacant lot and build…or are buying for future retirement and want to take advantage of today’s prices on land and build later, you have several attractive options. Stroll or drive up Kapaau Rd. right past the statue of Kamehameha I and you will find a short street where some of the homes are well hidden on small acreages. At the top are two lot listings. The owner (who still lives on the rest of the parcel) discovered they had four lots of record comprising their 10 acres and split off two lots with road frontage and one acre down in the gulch. The buyers of one of the lots have planted their acre and are beginning construction.

My favorite idea is for someone to buy both lots:

One lot (MLS# 244706) is flat with utilities right at the lot and easy to build
The gulch property (MLS# 243744) is priced at $220,000 and would be a brilliant choice for someone who wanted to farm or grow fruit and vegetables for their own use

New Six-Lot Kapaau Subdivision – Some Ocean Views

New 6-lot subdivision is in between Takata Store and Kohala High School (MLS# 247026)

Finally there is an answer to “what’s going in next to Takata Store?” The six-lot subdivision zoned “R-15,” meaning Residential minimum lot size 15,000 sq. ft., just was released to market with prices ranging from $150,000 – $165,000. The Kapua Gulch runs through many of these lots, making the effective area available for building less than the 18-30,000 sq. ft. lot size, but again, locals consider the gulch as a plus, the best location for farming or gardening.

Another 10-lot subdivision is planned for directly makai (towards the ocean) of these lots, but access will be via Union Mill Road, keeping traffic in the Kapua cul-de-sac to a minimum.

In short, there ARE a handful of homes and lots for sale off the main streets of Kohala, but only a handful. Let me know if you’re in town and want a quick tour!

A hui hou,
Beth

Kauna’oa at Mauna Kea Almost Sold Out

Beth Thoma Robinson, R(B) — Fri, 30 Dec 2011 05:15:16 +0000

Halii Kai is not the only Kohala “gold coast” resort where the developer’s close out sale is the news as we head in to the high season for vacation and second home sales in Hawaii. The developer of Kauna’oa at Mauna Kea Resort has put three of the Halia Hale paired townhomes and one vacant lot into escrow in the past 45 days! That leaves them also in the enviable position of set to sell out in the next few months.

Two of the three remaining townhomes are this “A” floorplan: 10A at $1,900,00 is a best buy (MLS 221622)

Developer selling at “low ball” prices

The units that are now under contract range in asking price from $2.2 million for 10B to $3.3 million for 3B (more privacy, more upgrades). Expect to see these Kauna’oa townhomes close at much lower prices: the most recent sale, Halia Hale 1A, was also listed at $3,300,000 when it sold for $2,600,000 in May, as reported in my earlier Kauna’oa blog post.

In fact, when Pam Deery and I recently showed Kauna’oa, we learned that the developer is calling old clients that had written contracts considered “low ball” up to a year ago and accepting them now at those prices by counter offers!

What’s left in property for sale at Kauna’oa?

At this price point and level of amenities, buyers are rarely shopping for the “best buy”, but my best buy pick is still 10A which was the first Halia Hale reduced to under $2 million earlier this year. Asking $1.9 million, do you think they’d take $1.5 million if it were cash, quick close? 7A is listed at $2.2 million and 8B (the larger floorplan) for $2.5 million. Given the mentality of the developer, we should see several closings under $2 million.

New listing, Lot 14 Kauna’oa priced at $2,850,000 has a wide building pad and unobstructed views (MLS 251006)

Recall that Kauna’oa has only 20 of the townhomes, and the majority of the development is given over to lots. Prospective buyers can now get a better sense of the feeling of the community with a number of houses at or near completion. There are five active vacant lot listings at the moment, all of them at prices discounted from the 2004-2005 levels when they originally sold.

The most curious of the Kauna’oa lot listings is the most expensive. It has been on the market for 60 days at an asking price of $3,990,000. But wait! This lot also appears among the four closed sales for 2011: in April, at a price of $2,400,000. Someone has an optimistic view of the price trend at this luxury Mauna Kea community!

A hui hou,

Beth

Halii Kai Developer Almost Sold Out – Resort Condo Market Update

Beth Thoma Robinson, R(B) — Mon, 26 Dec 2011 21:15:27 +0000

The story of 2011 for the Halii Kai condo market was not so much short sales and foreclosures, as it was the developer close out. As we head into the final week of the year, they have closed on 25 Halii Kai units, have two condos in escrow, and are negotiating on two more deals. They have only a handful of condos left for sale…more on that in a moment.

The popularity of Halii Kai is due in large part to its oceanfront amenity area.

2010 Halii Kai Sales

For reference, in 2010, what sold at Halii Kai was:

13 developer sales
7 short sales
1 REO (the only one for sale)
1 non-distress oceanfront resale
and 1 mynah bird in one papaya tree (oops, sorry, pidgen versions of Christmas carols on the brain).

In other words, the developer sold twice as many condos this year as last. They made the decision to compete with short sale and foreclosure listings, and did so successfully. What’s more it was a stronger year overall in terms of total number sold.

2011 Halii Kai Outlook

As of this moment, with one week to go in the year, in addition to the 25 closed Centex sales, 2011 at Halii Kai looks like this:

4 short sales
3 REOs
1 oceanfront non-distress sale
and 7 short sales showing contingent–which means: with accepted offers submitted to lenders for acceptance.

What happens next at Halii Kai?

Two of the short sales in escrow are Hawaii Life listings that got accepted offers in just the last week. We are negotiating on another one. So let’s look at the supply/demand balance as we head into the high season.

Developer inventory has become so slim that yesterday they released the first of their four model homes, for the groundfloor 3 bed/2 bath floorplan that they’ve completely sold out. They have only four condos for sale in the Coconut Grove (garden/mountain view), all the larger 3bed/3bath townhouse still at around the $500,000 price point. They have one ocean view condo, the smaller 2bed/2bath in Building 7, asking $484,000…and note that they began 2011 with a list price of $625,000 for that unit! Not counting the model, they have only three golf-view units left.

The lowest priced Halii Kai condo is short sale 18B at $350,000 (MLS 248005); short sale 5B is asking $399,000 (MLS 248981)

On the resale market, we have only three short sales without offers. There are 10 additional listings, half of which are at the $1 million price point and above.

Prediction

My prediction is that the remaining short sale listings and the resales below $500,000 will go quickly. There is always demand for direct oceanfront and one of the two oceanfront listings is clearly the better buy for $450,000 less than the competition!

Halii Kai 15H (MLS 25035) is the best buy on the direct oceanfront row at $1,239,000; this is your view.

If you’ve been waiting and watching the market for Halii Kai condos, this is not a time to hesitate. The developer is nearly sold out and the bulk of the short sales seem to be behind us. We have seen prices begin to turn up at nearby condo communities such as Kolea, where appraisers are no longer checking the “declining market” box on their appraisals. By mid-year 2012 that may be true at Halii Kai as well.

A hui hou

Beth Thoma Robinson R(B)

Direct: 808.443.4588 Email: beth@hawaiilife.com

Protecting Oceanfront Land in North Kohala

Beth Thoma Robinson, R(B) — Thu, 22 Dec 2011 04:31:30 +0000

There are currently eight oceanfront parcels of raw land listed for sale in North Kohala, the district to the north of the Kohala Coast resorts. They are priced from $594,000 for one of the oceanfront lots at Kohala Waterfront to $21,500,000 for a 63-acre parcel with subdivision approval on the same stretch of coast. I also know of a handful of other oceanfront owners who would be sellers given the right circumstances. But today I want you to know about an oceanfront parcel that is close to my heart and treasured by the community–and urge you to help buy this 27.5-acres of oceanfront with historic significance for all of us and future generations to enjoy its beauty.

Kauhola Point or “Lighthouse” is a 27.5-acre oceanfront peninsula close to acquisition with the assistance of The Trust for Public Land.

The Trust for Public Land Working with Local Partners to Purchase Kohala Oceanfront Property

If you’ve been a loyal reader, you might remember this used to be my listing. But the sellers, the agent with whom I co-listed and I agreed that given the historical significance and active usage by the community, the parcel deserved to be in public hands. The Trust for Public Land agreed. The State Legacy Land Conservation Program agreed to the tune of $975,000. The Freeman Family Fund gave a matching grant of $100,000. But with only 11 days to go until the end of the year, the effort is still around $100,000 short of the $1.3 million needed to purchase and protect this oceanfront property.

The Trust for Public Land is working with a non-profit community organization, Maika’i Kamakana ‘O Kohala and community partners such as the Ocean Warriors Program through which Kohala school children provide stewardship while using the area as an outdoor classroom. This is but the latest iteration of a long tradition of community use:

Kamehameha I taught his wife Ka’ahumanu to surf where locals still learn to surf today.
During the days of the sugar cane plantations Kauhola Point was an official recreation area, where families enjoyed both company-sponsored picnics and came for camping, fishing, and swimming, walking from the Halaula camps.

How You Can Help Buy this Treasured Oceanfront Land

The partners in this public purchase envision that they could restore the native landscaping to protect the watershed and create better habitat for shore birds, preserve view planes, and care for the remnants of historic sites, while families can still fish and surf and hike and picnic on the property.

Please Santa, watch this video : Kauhola Point (Lighthouse) Even in Hawaii we know the story of the final snowflake whose fall breaks a strong tree branch. A small contribution in this holiday season could be the final dollar needed!

Donations are tax-deductible. Contact Laura Ka’akua at Trust for Public Lands (808) 524-8562 or laura.kaakua@tpl.org. Or contact me for more details. By the way, the listing was withdrawn, so I will earn no commission on this sale, other than the karmic and recreational benefits.

A hui hou

Beth Thoma Robinson R(B)

Direct: 808.443.4588 Email: beth@hawaiilife.com

Escape to the Island of Lana’i

Beth Thoma Robinson, R(B) — Thu, 15 Dec 2011 21:31:16 +0000

On an exceptionally clear day from the Kohala Mountain Road, or any of my property listings in the Puakea area near Hawi, North Kohala, looking to the left of the island of Maui I can make out the island of Lana’i.

Maui is visible from the Hawi area most days; once in a while we see Lana’i and Kaho’olawe to the left

Which Hawaiian Island to Choose?

Some of my Mainland friends were surprised that instead of going to Switzerland or Sonoma for vacation, this year we decided to leave our laid-back, rural island for an even more laid-back, rural island about 70 nautical or air miles away.

One of the advantages of the Hawaii Life website is that you can search for real estate on any of the islands. That’s useful because if you are thinking about moving to Hawai’i or buying a vacation/second home here, your first decision is which island?

Which island is not so much a geographical choice as a lifestyle choice, and that was also true of our decision to vacation on Lana’i. Whether you are considering a vacation on the island of Lana’i…or fall in love with it and want to know about real estate options there…the lifestyle considerations will be, for some, its charms and for others, its limitations.Probably best known as the island where Bill and Melinda Gates chose to get married, for those of us who live on other Hawai’ian islands, Lana’i is similarly thought of as a “special occasion” destination. My special occasion was feeling so burnt out I was behaving like a snapping turtle and wanting to make the most of a week-long, too-short escape.

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Traveling To Lana’i

Traveling from the Big Island to Lana’i by commercial transportation is inconvenient (no direct commercial flights). The two choices are:

To fly from Kona to Lana’i City by flying to Honolulu and then back-tracking on a connecting flight
Flying to Maui, then traveling by land to Lahaina, followed by taking a ferry to Lana’i

If you are coming from the Mainland, you similarly will need to find a direct flight to Oahu or Maui and then connect to Lanai from there.

We had another option. This vacation idea began when my husband sailed from Kawaihae with the friend whose boat he crews on every Sunday. The Alenuihaha Channel is notoriously difficult to cross…and although the sail over was uneventful, the weather changed and they were stranded on Lana’i (ahhhh…). Finally, they decided to leave the boat and fly home pending better weather.

The good news is they found a pilot willing to fly, pick them up on Lanai, and fly directly home to Upolu Airport…so for our vacation we opted to hire the same plane. In less time than the hour it would have taken us to drive from our home in Hawi to Kona Airport, we made it from our Big Island home to Lana’i Airport!

Hotels on Lana’i

Vacationers have a choice of three hotels:

The Four Seasons Lodge at Koele
The Four Seasons Resort Manele Bay
The Hotel Lanai in Lanai City

Shuttles run between the three locations, Koele-Lanai City-Manele in less than 30 minutes. The rest of the island is basically undeveloped and best explored by jeep or ATV. For the romantically inclined, think of Lana’i as an island in Fiji, only a lot easier to get to. For the easily bored, you can take the 45-minute ferry from Lana’i to Lahaina, Maui, but if immediate access to shopping, restaurants, and movie theaters are a “must” for you, this is probably not “your” island.

The Four Seasons Lodge at Koele:

Our first stop was the Lodge at Koele, which gave us the feeling that we had gone to Switzerland or Sonoma! Located upcountry at an elevation of 1,800′, the Lodge has a great room with huge fireplaces and the tallest Christmas tree I’ve seen since the last time I was in Rockefeller Center in December.

The resort restaurants feature venison dishes from local deer…although the turkey was clearly farm-raised. If you know how to make your own fun, you can do very well at Koele. Some of the resort’s activities include:

Golf
Horseback riding
A shooting range
Croquet
Lawn bowling
Hiking
Mountain biking
Dancing to a local band at the Hotel Lanai’s Lanai City Bar and Grille on Saturday night
Heated pool and hot tub at the Lodge

The Four Seasons Resort at Manele Bay

The second half of our vacation was spent enjoying water sports (well, to be truthful, mostly the beach side lounges and poolside cocktails) at the Manele Bay Resort. We were too early to see whales, but watched spinner dolphins frolic in a huge school for an entire morning. I don’t think you want to know what color my toenails are after one of the best pedicures of my life…but seriously, I was on vacation and it IS the holiday season!

Most importantly, I ended the week feeling incredibly refreshed. So much so that I spent the afternoon before our return in the company of the principal broker of Island of Lanai Properties familiarizing myself with the inventory of real estate for sale on Lana’i. One could superimpose the exact area of my Big Island real estate focus (Hualalai to Hawi) on the luxury communities of Manele and Koele on Lana’i, but that will have to be the subject of another blog post.

A hui hou,

Beth Thoma Robinson, R(B)
808.443.4588
beth@hawaiilife.com

How to Judge the “Success” of Hawaii Real Estate Auctions

Beth Thoma Robinson, R(B) — Fri, 02 Dec 2011 00:04:25 +0000

Did all the properties sell at last Saturday’s Hawaii Life/Premiere Estates auction of land and homes? Not yet. Was the multi-property auction a success? One answer is that time will tell, as the auction is on-going until December 30th. Another answer is that there are auction buyers, sellers, and agents on the Big Island, Molokai, and Kauai whose properties are in escrow or already closed, so they would have to say the auction worked for them.

Or take my listing that is in the ongoing auction. This oceanfront acreage with a darling cottage has had a tremendous number of showings and fielded several offers. We felt the auction would take our marketing and exposure to the next level, so we could sell by the end of the year. Tracking our stats on the Hawaii Life website alone, I can see that the property was viewed 276 times in September; 502 times in October; and 1,664 times in November. I’ve run print ads in glossy real estate magazines with absolutely no jump in phone calls, showings, or on-line interest!

On-going auction: 29 acres, cottage, unobstructed views, horse and farm property (MLS# 241049)

The interested reader can find dozens of blog posts relating to property auctions for luxury homes and land here on the Hawaii Life Real Estate site. The disciplined reader who starts at the earliest and reads in chronological order will find that, as an agent and observer, I’ve moved from a skeptic to an enthusiast to a seasoned veteran.

Hualalai and Kukio Real Estate Auctions—Success

The Hualalai Resort and Kukio luxury property auctions last year garnered a great deal of national press because of the celebrity angle: Cher’s house for sale! Were these auctions successful?

From a buyer’s standpoint, some of the properties, especially Kukio homes sold “absolute” with no reserve, seem to have been good buys. Answer: Yes, if you are a buyer and know your comps.
From a seller’s standpoint, their properties sold that day; other properties in the same neighborhoods that were on the market in January 2010 are still for sale as I write this in December 2011. Answer: Yes, if you are a seller and are committed to selling NOW.
From an agent’s standpoint…well, let’s just say a few months later I got a call from prospective buyers who had come to the Big Island attracted by the auction publicity. They were not the successful bidders that day and although the auctioneers and agents showed them alternative, non-auction properties, they decided Kukio was perhaps not the best fit for them. But it left them with a taste for buying a home on the Big Island, and they flew over a few months later to look at the other Kohala Coast resorts with me. Answer: Yes, if you are a Hawaii real estate agent looking for ways to bring national attention to your market.

Kolea Home Auction—Success

Six months ago, my conclusion about this year’s auction at Kolea was that it had not done the sellers of the oceanfront home any favors. As of last week, I believe I was mistaken. The auction was a success, but it was only possible to evaluate in hindsight.

At the time of the Kolea home auction, which was an absolute auction with no reserve price, I felt that the presence of two neighboring homes that were on the market as bank-owned properties after foreclosure put a cap on the bidding price. One was already offered for an asking price of just under $4 million. The successful bid on the nicer home on Lot 7 in the auction turned out to be $3,850,000 (also keep in mind that in auctions, whether foreclosure or luxury auctions, the buyer pays an “auction premium” on top of their bid price). At the time, this seemed to be a disappointment, well below expectations.

However, Kolea Lot 7 was auctioned on March 21 and closed in July. The REO (foreclosure) on Lot 13 that I continued to believe was a best buy finally reduced its asking price to $3,695,000 in August…the bank accepted an offer in October and it closed this month for $2,750,000. In retrospect, the auction sold the house on Lot 7 for $1 million more for a smaller home, 7 months faster! And the house on Lot 4 is in escrow with its asking price reduced to $3,400,000.

Or to put it another way…buyers were already saying that these homes were valued lower than even the bank seller’s reserve price (the bank was getting and turning down solid offers that started with a “3″). An auction simply makes the demand curve more explicit.

I believe that once real estate buyers, sellers, and especially AGENTS become more familiar and comfortable with the property auction process, the more valuable a tool it will become…although not for every property. For sellers who want to sell now at what the market will bear and be sure they are not leaving money on the table, an auction makes sense. For buyers, it is still a chance to get a property at the bottom of the market. I have clients kicking themselves that they sat on the fence watching the Kolea homes and now will not have another opportunity at auction or foreclosure pricing.