The Kaiser Estate is Available for $80 Million
If you are a homeowner looking to sell your luxury home on Oahu, you should be thankful 2009 is behind us :) Sales of Million Dollar homes on Oahu were down 27% from 2008. There were 273 homes on Oahu that sold over $1 million compared to 374 in 2008. Good news is if you’re a buyer of homes over $1 million, now is the time for bargain hunting! There were two recent sales in Diamond Head where a buyers buyers picked up some great buys:
- 3721 Poka Place sold for $3,050,000 on 10/2/2009. The previous owner paid $4,100,000 on 5/15/2007!
- 669 Hakaka Place sold for $3,373,000 on 10/20/2009. The previous owner paid $4,200,000 on 8/30/2004!
In my opinion, it’s the higher price point that has suffered the most. It’s still hard to find a nice home in a good neighborhood around $1 million, however once you get in the $3-5 million range, there are bargains galore out there. Sales above $5 million got hit even harder, down 50% in 2009 with only 10 sales all year vs. 20 in 2008. Meanwhile, there are 54 active listings on Oahu over $5 million as of today…
View my favorite Oahu luxury homes for sale → Read entire post →
Posted by Katie Minkus, R(BIC) on January 2nd, 2010 |
Tags: Big Island, Hualalai, Kailua
Apparently there has been much to-do in the news about all the “celebrity” government dignitaries visiting Hawaii this winter season. Of course, President Obama has been vacationing on Kailua’s gorgeous beaches for the holidays, and Oahu is rejoicing in the “Obama bump” economy. As proof of this phenomenon, I received a President Obama bobble head for my car for Christmas this year. (Yes, he’s wearing an aloha shirt, lei, slippahs and giving the double shaka.)
President Obama bobblehead
Last week, Nancy Pelosi made a run for the Big Island’s Four Seasons Hualalai Resort. Besides the obvious, “who can blame her, it’s one of the best hotels in the world?” Everyone seems to have forgotten that Nancy Pelosi, Speaker of the House, is originally from the California Bay Area, and during “festivus” the Four Seasons is FULL of people from California. She’s networking with her constituents!! And why not mix business with pleasure? “It’s one of the best hotels in the world!” (Do you think the Speaker knows there’s a no-reserve auction on five luxury homes in Kukio and Hualalai on January 18th?)
No reserve price for this estate, previously asking $8.45M
All the fuss over the Speaker’s visit and who is paying for it and how she got here…such obvious political posturing from partisan players (ahhhh… alliteration – thanks, UCLA). What I see is simple local economics: the more high-profile people that visit the Big Island, the more other people are drawn to visit here too. The more people who visit the Big Island, the more who love it and the more who come back to visit every year. (We love our “snowbirds!”) We are an island community, one whose economy depends very heavily on both tourism and government. It’s natural for us to embrace visiting dignitaries, they bring us hope, infuse the economy with money, and make us feel that we’re not quite as separate as 5,000 miles, and a lot of big, beautiful blue ocean might suggest.
Posted by David Buck, R, BIC on December 27th, 2009 |
Tags: Kailua, Oahu, Vacation
Obama on the beach in Kailua, Oahu
Years before President Obama was in the political spotlight, he was ritually coming to visit his sister that lived in Kailua here on Oahu. Last year when he was voted as our next President of the United States, he took “one last trip to Hawaii” prior to taking office. He stayed at a $9 million beachfront home then. Well, history has repeated itself as he’ll be coming back again this year to enjoy Kailua.
You might ask yourself “what does the President of the United States see in Kailua?” First off, Kailua has one of the most gorgeous white sandy beaches that stretches for miles. It’s also on the windward side of Oahu, which typically gets more rain and everything is lust and green. Kailua is also a little more “laid back” than the city life in Honolulu. Kaneohe Ranch, who owns most of the commercial real estate in the area has also done a fabulous job of renovating the “town” and a new Whole Foods supermarket is in the works.
There’s something for everyone when it comes to Kailua real estate. Prices start at $199,888 for a 2 bed, 1 bath condo and go as high as $36 Million for a brand new oceanfront estate on 1.5 acres. Feel free to give me a call if you’re ready to live your Hawaii Life in Kailua, Oahu.
Posted by Matt Beall, PB on November 19th, 2009 |
Tags: Kailua, Kauai, Luxury
Kauai has been the home of one of the highest-priced luxury listings in nation for over 5 years, the famed Papaa Bay Plantation was originally listed for sale in June of 2007 for $46.5 million. Last Thursday, the estate sold for $28 million.
Papaa Bay, Kauai
The estate includes 147 acres of land on Kauai’s northeast shore. The main residence is 15,000 square feet, with 6 bedrooms, and 8+ bathrooms. Also included are two “guest bungalows” of 4000 square feet (each) and a 3-bedroom caretaker’s home. And, of course, a swimming pool, beach cabana, yoga studio, horse stables, and multiple barns.
It’s no secret that the estate’s former owner is the Hollywood producer Peter Guber of Mandalay entertainment. That said, the lack of media surrounding the sale is interesting. According to Kauai’s ‘coconut wireless’, the buyers aren’t celebrities, or household names. And, perhaps more importantly, they’re also apparently not developers.
Despite the sale price of $28 million, the Papaa Bay Plantation still doesn’t represent the highest residential sale in the State of Hawaii. That title still rests with the sale of an estate overlooking Hapuna Beach on the Big Island’s Kohala Coast, which sold for $29 million in 2007.
The sale of Papaa Bay, which was listed for sale at $39.5m, means that the highest-priced home in Hawaii is now on Oahu, in Kailua. We’ll keep an eye on that one, of course.
Posted by David Buck, R, BIC on November 2nd, 2009 |
Tags: Homes, Kailua, Luxury
Beachfront Estate in Kailua, Windward Oahu
Last week, the latest and most expensive to date Kerr Michaels project was listed in Kailua Beach. 210 Kalaheo Ave. has it all. This exclusive beach-side estate is nearly 1.5 acres on the ocean and has 8 bedrooms and 8 + bathrooms and was recently completed in 2009. If they achieve their goal in selling near the price of asking of $36 million, it would be a record setting sale for Windward Oahu.
Two homes sold over the last few years at $22 and $24 million on Oahu, however they were older homes whereas this is new construction…
It will be interesting to monitor the traffic this home receives. At $36m, this estate is now the 2nd highest-priced residential offering the State of Hawaii. The top spot belongs to the Tara Plantation at Papaa Bay on Kauai, which is rumored to be in negotiations.
I have three beautiful residential real estate listings in North Kohala at prices ranging from $1,095,000 to $1,599,000 that have been for sale 60 – 90 days. Today I am meeting with one of those sellers to review market conditions and where we stand. Earlier this week our Big Island Hawaii Life team had a mini-caravan to see all our gorgeous listings along Alii Drive in Kailua-Kona, several of which are also in the $1-1.5 million range. We talked story as we went, and everyone seemed very busy with showings, offers, and even closings–so before speaking with my sellers this evening I wanted to doublecheck whether that was just us, or an overall trend in the Big Island real estate market.
I researched residential real estate sales from Kailua Kona north through Waimea and Hawi, with listing prices from $999,000 to $1.6 million. For comparison, in 2008 a total of 34 homes sold in that range. Two-thirds of them (21 properties) sold in the first half of the year.
For the first six months of 2009, there were only 11 home sales in the $1-1.5 million list price range (4 in North Kohala including Kohala Ranch and Kohala-by-the-Sea, and the rest in the Kona district). That’s only about half of the closings we saw in 2008. Read entire post →
Posted by Mike Gallagher, BIC on September 8th, 2009 |
Tags: Homes, Kailua, Oahu, Sales Stats
The above map shows a % for both SFH’s and Condos for each of the areas. This % equals the amount of Just Accepted Offers in Escrow as compared to total inventory for sale. Please note the ACS % at the top left of the map is for an Average of all of Oahu SFH’s and Condos. The Oahu ACS% is the basis for the up or down arrows for each neighborhood on the Island Map. Read entire post →
Posted by Mike Gallagher, BIC on September 8th, 2009 |
Tags: Condos, Kailua, Oahu, Sales Stats
The below map shows a % for both SFH’s and Condos for each of the areas. This % equals the amount of Just Accepted Offers in Escrow as compared to total inventory for sale. Please note the ACS % at the top left of the map is for an Average of all of Oahu SFH’s and Condos. The Oahu ACS% is the basis for the up or down arrows for each neighborhood on the Island Map. Read entire post →
Posted by Mike Gallagher, BIC on August 6th, 2009 |
Tags: Kailua, Oahu, Sales Stats
The above map shows a % for both SFH’s and Condos for each of the areas. This % equals the amount of Just Accepted Offers in Escrow as compared to total inventory for sale. Please note the ACS % at the top left of the map for Oahu SFH’s and Condos. The Oahu ACS% is the basis for the up or down arrows for each neighborhood on the Island Map. Read entire post →
The above map shows a % for both SFH’s and Condos for each of the areas. This % equals the amount of Just Accepted Offers in Escrow as compared to total inventory for sale. Please note the ACS % at the top left of the map for Oahu SFH’s and Condos. The Oahu ACS% is the basis for the up or down arrows for each neighborhood on the Island Map. Read entire post →
