Hawaii Life Real Estate Brokers » Hawi

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)

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

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

Kohala Oceanfront Foreclosures Update

Beth Thoma Robinson, R(B) — Tue, 08 Nov 2011 02:15:13 +0000

Regular readers of my blog posts may wonder whatever happened to that bank-owned Hawi oceanfront mansion, or the foreclosed beachfront homes in Kolea on the Kohala Coast I wrote about in a post two months ago?

Asking price is $6,500,000 for this Kolea home (MLS# 241295)…but may not be the best value

As of last week, the two REO homes at Kolea—the one on lot 13 offered for $3,695,000 and the one on lot 4 next to the Beach Club offered for $3,400,000—are both in escrow. That leaves the house on lot 16 offered for $3,750,000 and the one on lot 5 for $6,500,000.

The lot 5 house sold in 2006 for $6,600,000 to the current owners, who apparently don’t get that even setting aside distress sales, the house that sold in 2009 for $6,500,000 had 5,733 sq. ft. and 5 bedrooms versus 3,677 sq. ft. and 3 bedrooms; pricing seems to be more than $2 million off…wonder if they will look at offers?

Whale-watching lanai at Hawi oceanfront foreclosure (MLS# 244454) now down to $3,850,000

If just under $4 million is your target price point for your oceanfront home, you still have a shot at the 13,000+ sq. ft. home on 20 acres near Hawi. It recently had a small price reduction to $3,850,000, so the price keeps inching down. I predict the eventual buyer will walk onto the lanai just as a whale is breaching a few hundred yards away. With 7 months on market, the bank is wanting a quick close. Maybe try an aggressive offer with a 3-week close?

New on the market, two bank-owned oceanfront lots at Naupaka Pl: (MLS# 248560) and (MLS# 248561)

The new oceanfront foreclosure opportunity comes as twins: Lot 7 and Lot 8 at Naupaka Place next to Kolea were purchased by the same buyer. The bank now owns them after foreclosure and has just listed them for $2,550,000 each. Full disclosure: I am the listing agent for these lots, as well as adjacent Lot 9 (MLS# 233826).

What should lots at Naupaka Pl. be worth, given the price of homes selling at Kolea? It’s hard to make a direct comparison because there is a location premium at Naupaka. Look at the steps to the beach from Lot 7/8 Naupaka Place compared with the distance to the ocean from the Kolea home above. Plus, behind the gates of Kolea you find both single family homes and 16 condo buildings; behind the gates of Naupaka Place are only 11 lots. The one home that was built and sold in Naupaka is around 5,000 sq. ft. with 4 bedrooms. It changed hands twice for $10,500,000 at the market peak in 2007 and for $9,500,000 in 2009.

For more information about these or other oceanfront and beachfront properties for sale on the Kohala Coast, feel free to call or email me directly!

A hui hou,
Beth

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

Local Mind, Local Life – Small Town Living in Kohala

Beth Thoma Robinson, R(B) — Thu, 20 Oct 2011 03:00:23 +0000

Hawai’i Life’s Big Island Broker-in-Charge, Katie Minkus, sent me an email inviting me to download the LocalMind “app” to my smart phone. Evidently, she thinks it will be useful for my real estate practice “to send questions to people checked in around your neighborhood to find out what’s happening there right now. You can use it to find out how crowded a bar is, how fun a party is, or what’s good at a restaurant.” Hmm…sounds like the Kapaau Post Office on steroids.

Granted, I am one of the true believers in our office when it comes to the value of social media in connecting with buyers and sellers of real estate. I’m sure that’s why I got her invitation. I’m not likely to actually download LocalMind and I’ve turned off FourSquare. Maybe it’s heresy, but the coconut wireless works just fine for me.

In case you are considering a purchase of real estate in one of the neighborhoods near Hawi or Kapaau, consider yourself warned. By the time you finish sneezing at home, the folks in line at the post office are already speculating on whether you have a cold!

Take last Tuesday—I was determined to get to a 4p.m. yoga class because it had been one heck of a day and I needed to clear my head, but just before I went out the door I got a call from our local Bank of Hawaii branch. They wanted me to come by to redo the signature on a document related to the account for my community horse arena project. I thought I might have just enough time to stop in before class, which is held in a studio in the yoga teacher’s home a few blocks from the bank in Kapa’au town.

I’d forgotten there might be a line just before 4p.m. closing time, even with three tellers at work. No worries, the two ahead of me in line were Peter, who owns Sushi Rock, and Karen, who owns the Kohala Coffee Mill. They were in the middle of a conversation about where they eat when they are in Kona for their Costco run. ”I’m no help there,” I explained, “I only go where my 87-year-old mother wants to eat—and she orders the same thing every time.”

Karen laughed, “My 87-year-old father does the same.” Of course, her 87-year-old father lives here and I know him too, and naturally, the parents agree on where to eat in Kona. I don’t believe either of them use FourSquare, although my mom’s on Facebook.

By that time, another friend who works in Hawi had stepped into line behind us. “Are you going to the tasting at Lighthouse Liquors?” she asked.

“Not sure, what are they tasting tonight?”

Just then, the bank manager, with whom I’d just been working on the Kohala Country Fair, noticed me in line and waived the documents at me so I could jump out of line and sign.

On to yoga class, where I almost fell out of my headstand laughing. My tech savvy yoga teacher, Jan Roberts, was telling us about her new iPhone. She tried to ask Siri to send a text message to Mimi (who happened to be on her head next to me as this story was told). When asked what she wanted to say, Jan had responded, “Ummm…Hi.” She sent without proofing and Mimi received a mysterious message from her yoga teacher that read, “I’m high.”

You see, it’s not that we are anti-technology in our rural, old Hawai’i corner of the Big Island; we’re all on Facebook, we text incessantly, and high-speed internet is now available even in Niulii and Makapala near the end of the road, but our high-tech virtual connections just enhance our high-touch culture.

Kohala probably isn’t the place for you if you aren’t a hugging type of person, or if you don’t care for small town living where everyone cares about you (and your business), but if it sounds like the lifestyle for you, give me a call, send me an email, or text, or tweet, or Facebook message…

A hui hou!

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

P.S.—A big mahalo to Hawaii Life Creative Director, Winston Welborn, for the fabulous photos of Kohala Life!

Oceanfront Foreclosures on the Big Island

Beth Thoma Robinson, R(B) — Sat, 10 Sep 2011 01:50:03 +0000

I am suddenly getting a lot of inquiries on two oceanfront properties that are “REOs”—real estate owned by the bank after foreclosure. I’ve blogged about both of these oceanfront homes before, but right now I’m getting the same questions over and over, probably because buyers are starting to get serious about the details.

Both of these foreclosure listings have had recent price reductions and my guess is the banks are ready to take a reasonable offer. When banks list REOs at lower price points, they are usually disciplined about regular price reductions to sell in a short period of time. With listings in this $3—$5 million range, they tend to think in terms of a longer listing horizon, hoping to get a sale within 6 months or a year. Both of these oceanfront properties are at that stage.

The MLS photos don’t show the red granite exterior of this Hawi oceanfront estate home (MLS# 244454)

Don’t expect the listing agent on a bank-owned property to spring for professional photos or virtual tours. In the case of the 13,000 sq. ft. six-bedroom oceanfront estate home on 21.5 acres for sale in Hawi, my most frequently asked question is, “What does the exterior look like?” Since inexplicably, that’s what’s missing from the MLS photos.

The listing was released in April for $4,999,995 and is now down to $4,050,000. One might ask whether or not this is a best buy price? If you have checked out the new version of the Hawaii Life website, you’ll notice that we’re trying to rate listings, and this oceanfront foreclosure gets a value score of 92.

I don’t know what the official algorithm is, but here’s my perspective. The oceanfront lot adjacent to this home, which is not nearly as desirable as the acreage this mansion occupies, sold for $1,050,000 in 2009. Subtracting that out gives me a $3 million price tag for the oceanfront home. That works out to something like $230/sq. ft…which is about what it costs to build in Hawi using a kit home from one of the lumber yards!

The other listing I’m getting calls to show is one of the oceanfront homes at Kolea that I’ve blogged about in the past as my favorite.

This beachfront foreclosure at Kolea (MLS# 241676) has been staged with furnishings appropriate to its location and quality of finish

Now, forget what I said about banks and their agents not presenting their luxury foreclosure properties in the best light. When it comes to this oceanfront Kolea resort foreclosure, the property has been beautifully staged, but the MLS photos don’t capture everything…like the waterfalls in the entry, the privacy of the separate guest suite, or how the home is sited to give residents the feeling of being all alone at the beach.

I was told when the price was above $4 million not to bother writing offers that began with a “3.” Now the price has inched down to $3,695,000 after the most recent reduction. The psychology among the prospective buyers to whom I’ve shown the property seems to be to continue to wait to see just how low it will drop. Inevitably, someone will pull the trigger and the other buyers will be regretting the one that got away.

Our website is currently only rating this one at an “88,” but the devil is in the details. The Kolea home that went to auction in March and sold as a short sale for $3,850,000 was 4,169 sq. ft. compared with 4,784 sq. ft. for the REO property. Both lots have a buffer of lava conservation zone between them and the ocean, which also ends up being a buffer between your home and the sunbathers and Ironmen enjoying the beach. Only the foreclosure for sale has more privacy than the one that sold, and a great deal more privacy than the only house listed for less at Kolea, which is right next to the Beach Club.

By the way, the question I get asked about this oceanfront property is whether the furniture is included. Technically, no. You want to make the deal even sweeter? Throw it into the offer! What’s the bank going to do, put it in a warehouse waiting to stage their next Kohala Coast beachfront foreclosure?

A hui hou,
Beth

Beth Thoma Robinson, R(B), SFR
Email: Beth@HawaiiLife.com
Direct: 808.443.4588

Hawi Homes For Sale – $500,000 Budget

Beth Thoma Robinson, R(B) — Fri, 09 Sep 2011 04:30:58 +0000

Real estate buyers who have looked elsewhere on the Big Island—Kailua Kona or Waikoloa Village for example—often get sticker shock when they fall in love with Hawi-Kapaau in North Kohala.

Dreaming of real estate over “Tropical Dreams” ice cream at the Kohala Coffee Mill in Hawi…

According to the 2010 census, the population of the entire district of North Kohala—including the gated communities just above the Kohala Coast resorts (Kohala Ranch, Kohala By the Sea, Kohala Waterfront) and non-gated Kohala Estates—grew by only 284 people in the past 10 years, to a current total of 6,322 residents.

With the district being still predominantly agricultural, and future growth limited to the existing subdivisions and within a one-mile radius of the towns of Hawi and Kapa’au, there just isn’t a huge inventory of homes for sale at any given time.

For example, if your budget for a home in North Kohala is $500,000 or so, there are currently only 9 homes for sale (in the $400,000 to $600,000 range). If you are interested in a home on acreage, there are three choices on lots ranging from 1.25 acres to 9.94 acres.

Two of these homes are small houses, but with potential for expansion, in the same neighborhood above Hawi heading towards the Kohala Mountain Road. One home (MLS# 242618) is a one-bedroom on 2 acres offered for $580,000…which seems a bit high compared with the other home (MLS# 247033) offering a cute two-bedroom on almost 10 acres.

Cute 2 bed/1 bath on acreage with an ocean view!

If you can handle a fixer, want to be close to town (walking distance from the hardware store!), and want acreage mostly for privacy, the bargain is this home (MLS# 247975) with 1,980 sq. ft. on 7.36 acres (below).

Potential if you have the skills or budget to handle a fixer on 7 acres in Kapaau town

The two choices that have 1.25 acres and a three bedroom home both have ocean views. This home (MLS# 240131), offered for $575,000, is the lowest priced home for sale in the Maliu Ridge subdivision at around 1,300′ elevation, a friendly neighborhood with big ocean views, underground utilities, and CC&Rs, but no association dues.

Three bedroom home on 1.25 acres with lawn and fruit trees near Hawi priced at $500,000

The home above (MLS# 245402), asking price $500,000, is just off the lower road as you drive towards Hawi from the Kohala Coast Resorts, at that point where after miles of dry but scenic road, you are taking in rural beauty of dairy cows and horses grazing in green pastures with ocean and Maui views.

Newer home with remodeled ohana dwelling in back, across from a plantation manager’s house!

If you have an extended family looking to purchase together, here’s a two-for-one deal (pictured above)! Two homes (one nearly new) on a single lot, midway between Hawi and Kapaau, offered for $550,000 (MLS# 245223).

Former model home for Hanaula Village subdivision near Kapaau town

A model home was built by the developer of a tiny subdivision where the decision was made to put lot sales on hold when the economy faltered three years ago. The model home has been rented and is now for sale at $549,000 for three bedrooms, two bathrooms, and 1,723 sq. feet of living space on a 10,000 sq. ft lot. (MLS# 246594).

In other words, there may not be many homes for sale in Hawi and Kapaau for half a million dollars, but there is a wide variety in the choices. Most of these are easy to see, but some require 24 hours notice to the owners or renters. If you’re reading this on your smart phone or tablet at the Coffee Mill and want to take a look, just give me a call!

Lion’s Club Luau – Annual Event in Hawi, North Kohala

Beth Thoma Robinson, R(B) — Tue, 30 Aug 2011 22:40:35 +0000

When you make the move from being a visitor to being a property-owning resident of one of our more traditional Big Island communities, you’ll discover that family and personal milestones are often celebrated with a luau.

Here in Hawi, North Kohala, the local Lion’s Club’s annual luau is a fundraiser for the club’s charitable giving program and a major social event of the season for the community. Over 400 tickets were sold to last Saturday’s luau, which is a pretty significant number in a rural community with a 2010 census population of around 6,000 people!

Unlike a hotel luau with assigned seating, the Lion’s Club luau in Hawi is more like an overgrown backyard BBQ…and in fact, it is in someone’s backyard. Children take off at a run to join their friends, their parents table-hop, and there’s a whole lot of hugging, joking, and “talking story.”

I was standing at the bar table waiting for my glass of chardonnay to be poured when I heard my name called. I turned to see a couple who’d bought a house I had listed at Puakea Bay Ranch. They had closed exactly a year ago, and I’d suggested they come to last year’s Lion’s Club Luau as a way to start meeting people in the community. They greeted me with big smiles and hugs, and gave me the rundown on their first year in Kohala. They’d made a lot of friends and become involved in several community projects. Their kids are doing well in school and love the house.

As I watched them move through the crowd, it occurred to me how special it is to find a community like Kohala (what locals call the Hawi-Kapaau area of North Kohala) that is both tight-knit and welcoming to newcomers. The kind of place where, because there is no mail delivery, the postmaster greets you by name. The kind of place where they carry your groceries out to the car while you pay, and know which car is yours. The kind of place where even in an enclave of $1 million homes, a backyard imu for roasting a pig and a luau for 400 friends and neighbors seems just right.

If you’d like to be walking distance from next year’s Lion’s Club Luau, here are two homes for sale (both listed by Hawaii Life) in this Hawi neighborhood:

This newer ocean view Hawi home on 3 acres is in the Lion’s Club Luau neighborhood (MLS# 239820) offered for $947,000

This Hawi plantation era home on 3 acres planted with fruit trees is a short sale at $800,000 (MLS# 247082)

Hawaii Life Real Estate Brokers Beth Thoma Robinson Makes Hawaii’s Top 100 Realtors List

Katie Minkus, R(BIC) — Sun, 26 Jun 2011 20:18:26 +0000

Congratulations, Beth Thoma Robinson!

At Hawaii Life Real Estate Brokers, we don’t typically spend a lot of time focusing on things like “top producer” awards, statuettes, or trips around the world (although that would be nice, especially on a private jet). Sometimes, we regrettably fall short when it comes to accolades. Hopefully, this is not one of those times.

Beth Thoma Robinson, R(B) earned her way onto HawaiiBusiness’ Top 100 Realtors for 2010!

For those of you who know Beth, it won’t be a big surprise when I say that she has a veryâ€”ahemâ€””D”efinitive personality, which is actually at the core of what makes her an exceptional REALTOR.

How do I know? Because Beth’s enormous success is a product of who she is, not what she “does,” or the types of clients and properties she sellsâ€”but because her real estate practice is beautiful inside and out.

Beth also represents homes for sale (MLS# 235911) that are beautiful inside and out…(continued below)

…such as this exceptional custom home in Puakea Bay (MLS# 235911) with outstanding ocean and Maui views, asking $2M

Don’t get me wrong, Beth “does” amazing work, as evidenced by both her dollar production and her inclusion on this very prestigious list. It means something when only 14 out of the top 100 Realtors are Big Island brokers and only 5** of those hang their licenses with small, independent brokerage firms (non-franchise/non resort), and one of those is Beth.*

It’s been an honor (and at times a challengeâ€”a shared inspiration) to broker Beth’s business at Hawaii Life. Which means I have an inside scoop as to the efficiency of her systems and efficacy of her team’s structure. Quite frankly, it’s impressive. It takes an innovator, a grass roots problem-solver, and simultaneously, a leader to have started at Hawaii Life nearly two years ago with one listing and today find herself part of this exclusive group of top professionals, Top 100 Realtors in the State!

How does she do it? Beth operates her real estate business with one core motto: Give. That doesn’t mean she ignores her CPA’s advice, it means Beth believes her job is to serve her clients. Whenever we talk about her business, Beth’s primary focus is always on her clients and customers; how can she give them more, improve their experience, protect, and advise them best?

Talk to Beth for two seconds and you’ll know she’s a strong, smart, engaging womanâ€”talk with her for one hour and you’ll start to understand, that for Beth, this is her life’s work. No needÂ to believe me, read what Beth’s clients have to say by clicking here.

Congratulations, Beth!!! It has been my great pleasure to witness your progress and process, your growth, and your vast experience.Â Mahalo nui loa for the opportunity to be of service to you and for being a part of our Big Island leadership. Sending you 39 virtual leis for the transactions you’ve closed with Hawaii Life, and at least quadruple that for the number of people whose lives you’ve touched through your service in real estate. Well done.

So, for 2011, top 25?

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*A huge Big Island congratulations goes out toÂ Ron Margolis, R(S) with theÂ Hawaii Life Team on Kauai, who also made it into the top 100 Realtors in the state! Way to go, Ron!!

**Congratulations also go out to Sue Brown, R(S) with Livingston Realty, Brandon Wood, R(B) with Pacific Resort Realty, and Ed Rapoza, R(B) and Nicole Vincent, R(S) with Island Land Co., Inc.

Update on Hawi Mansion Foreclosure Auction

Beth Thoma Robinson, R(B) — Wed, 11 May 2011 01:43:17 +0000

The first auction sale date came and went without offers, but as of today there is a bid showing in the second round of the on-line auction on the Hawi mansion (MLS# 244454) that is for sale by the bank after foreclosure. The current bid price is $4,224,000…which implies to me that there may be more than one bidder since the starting price was $2,900,000.

The auction.com website also notes that the reserve price has not been met. Since the listing price in the MLS is $4,999,995, let’s use that number as a working hypothesis as to the reserve price. The bank may or may not be realistic in its reserve price, but we can look at some comps to see whether you might want to jump in above the current high bidder—or at least we can look at some points of reference as I’m not sure there is a property on the Big Island directly comparable to the oceanfront Hawi estate.

(MLS# 244454) has 13,143 sq ft, 6 bedrooms, and a 21.5 acre lot…listed at $4,999,995

There are no recently sold comps in luxury homes nearby. Last year’s highest residential sales in the Hawi area were both in Puakea Bay Ranch, but neither one was directly oceanfront. What does make them comparable is that both were distress sales, which sold for far less than the $3 million or so the sellers had invested in the homes.

Making adjustments as an appraiser might, the top Puakea Bay Ranch sale was $1,800,000 for 4,728 sq. ft. Subtracting off $350,000 for a lot (which is about where the lowest priced lots for sale at Puakea Bay Ranch are currently listed, gives us $305/sq. ft. (like I said, with construction costs running $350-$500/sq. ft. for the Puakea Bay Ranch level of home, and more than that for this Hawi auction property, residential real estate is available at less than the cost of construction). Taking that figure times the square footage in the estate home being auctioned, we get just over $4 million for the home.

Then, we would need to estimate the value of the land. The adjacent 20-acre lot sold in 2009 for $1,050,000 and there are two nearly oceanfront lots in the subdivision listed for $1,100,000 and $1,150,000. There is an oceanfront parcel of 17.5 acres just across the gulch listed for $1,445,000 after a recent price reduction. Assuming that a distress sale price would put the value of the lot at around $1,000,000…we get a total of around $5 million.

Hence, the bank’s asking price.

There are other ways to look at the comps, so if you are considering jumping in to the auction, or scooping the property if it fails to sell at the end of the on-line auction (which closes Wednesday, May 11th at 6:30 p.m. Pacific, 3:30 p.m. Hawai’i time), there is still time to work with a local Realtor on your bid., and don’t forget the winning auction bidder pays a 5% premium to the auction house above their bid price.