Hawaii Life Real Estate Brokers » Price Reductions

Kapalua Plantation Estates Bankruptcy Sale

Rustin Singleton, RS — Thu, 09 Feb 2012 03:00:39 +0000

197 Plantation Drive in The Kapalua Plantation Estates – I blogged about this beautiful property when it first came out last August. It was a beautiful property (MLS# 349062) listed at $4,800,000 in the Kapalua Resort area.

Since this home was first listed the circumstances have changed with ownership. It has now become a bankruptcy sale and is listed at an amazing $3,500,000. This sale will be subject to court confirmation, but can be a great value for the right buyer.

Kapalua Plantation Estates

Plantation Estates sits on 720 acres with 52 total estates ranging from 2 to 7 acres in size. It was completed in 1990 with hand built Kapalua blue rock walls and streets lined with Norfolk Pine trees, which is a unique Kapalua Resort signature.

I have a lot more information and photos, please contact me with any questions.

Rustin
808.281.1625
rustin@hawaiilife.com

Kahului Custom Built Mini Mansion Gets Price Reduction

Kathleen Wilson, R(S), SFR — Tue, 07 Feb 2012 23:15:10 +0000

An amazing custom built mini mansion (MLS# 349632) is back on the market and priced to sell…a steal at $579,000! Many unique design features, please call for a list.

Pool parties, BBQs, stand alone quarters for out of town guests, Koi pond, and waterfalls can all be enjoyed from this home. Nothing is spared in the design…details and love were both put into this exquisite home.

Compact, easy access kitchen with plenty of room and a sunny breakfast nook!

This home has a separate dining room, family room, and living room all with recessed ceilings, special lighting, and room galore.

Connect with my blogs on foreclosure properties (and more) and how to find the best value for your property purchase, which includes a step-by-step process on “How To” purchase your bank owned property.

Our offices are working upwards of 30 pre-foreclosures (properties not listed in the MLS) at any given time. To protect homeowners and tenants currently still living in bank owned properties, and because of MLS rules, we are unable to give out addresses of our unlisted pre-foreclosures.

As bank owned properties are able to be listed on the MLS, and if you answer a few questions below, we will contact you when a property of your dreams is about to be listed. Also, be sure to check out my blog series on foreclosures.

Please call with or send the information below:

Assets you desire in a property (i.e. acreage with a house and cottage, condo, 3 bed/2 bath, swimming pool, vacation rental on the golf course, etc.)
Pre-approval letter or proof of cash. I would be happy to send you names of loan officers, so that you can be pre-approved and ready to make an offer
Preferred location (i.e. W. Maui, S. Maui, or an actual town such as Haiku, Kapalua, Kihei, Wailea, or a zip code)
Phone number, name, and email address

Kathleen Wilson, SSCP – Short Sale Certified Professional – Five Star Institute, RECP – REO Certified Professional – Five Star Institute and SFR – Short Sale Foreclosure Resource

North Shore Oahu Home For Sale Oceanfront to Sunset Beach

Benjy Gilholm, RA — Tue, 07 Feb 2012 03:15:21 +0000

North shore oceanfront buyers, don’t pass up this super specatuclar oceanfront gem (MLS# 1112626) located in front of the world-famous Sunset Beach. 59-017 Kahauola St. 017 is part of a two unit CPR. The other dwelling, unit 2, is currently in escrow, per listing agent Roberto Lopes agent remarks in the MLS, priced at $2.695M.

This home has panoramic views of the setting sun over surfing’s Gold Coast. Built in 2001, this luxurious home has been hardly used. Located on a sandy beach on one of the north shore’s most desirable neighborhoods, this is the perfect beach house. This property is discounted to sell!

Features

High quality finishes
Over 4,600 sq./ft. of roofed area
3 bedrooms
3.5 bathrooms
A large garage
A ‘bonus area’ with 2 bedrooms + bathroom + exercise + game room

Kumulani Condo Offers Huge Ocean View & Huge Value

Annie Mendoza, RS — Sun, 05 Feb 2012 01:45:30 +0000

It’s another one of those pristine days on the Big Island’s Kohala Coast! You might ask, “How would you know, since Hawaii real estate is in high gear, you’re up to your ears in contracts (not complaining), and staring at your monitor for hours?” Well, I’ll tell you why…because one of my favorite all-time clients just shared, “the ocean is so blue, all I can think of is the buyer that is missing out on this beautiful view and the whale migration!” He really loves his home, but is selling to relocate for work.

He’s not kidding about the ocean views! Words can’t express how grand his coastline, ocean, mountain,and Maui views are at Kumulani H4 (MLS# 250584).

Now, this deal on a 3 bedroom/2 bathroom Kumulani condo - and the Hawaii lifestyle that comes along with it – is up for grabs! Kumulani is low density, surrounded on three sides by fairways with the big blue ocean beyond!

There is no doubt in our minds that the value of this condo is just as huge as the views!! My teammates and I are in the field every day “pounding the pavement” with our “ears to the ground.” We know the market and prices on the Kohala Coast (a.k.a. Gold Coast). We know there are fewer condos with ocean views than not and that inventory is diminishing.

For example, the 3 bedroom condos listed below could be considered the lowest priced condos at the two neighboring resorts with ocean views to rival Kumulani H4:

Waikoloa Beach Resort: Hali’i Kai 10E (MLS# 233828) overlooking the fairway to ocean views beyond at $998K.
Mauna Lani Resort: The Terrace (MLS# 240700) overlooking the ancient ponds to ocean views beyond at $2.950M.

Can you see the blue ocean?! That’s just a sliver of what is seen from this meticulously maintained and upgraded condo!

When you become an owner at Kumulani, a distinctive Hawaii lifestyle becomes available with membership to the legendary Mauna Kea Beach Resort! Visitors, celebrities, and residents of its elite neighborhoods (like Kauan’oa or The Bluffs with multi-million dollar homes) cherish the privacy and luxury available within the gated resort.

Notable Features of Membership

Access to the crescent shaped white sand Kauna’oa Beach (has been rated top ten in the world)
Member-only functions
Two championship golf courses (Mauna Kea Golf Course and the Hapuna Golf Course)
Two fitness centers
Fine restaurants & lounges
Spa
The award winning Seaside Tennis Club
And more!

Kumulani H4 could be your first step to the Hawaii life you’ve imagined! I’d love to introduce you! A hui hou!

Always my best with aloha…Annie

Annie Mendoza, R(S)
Hawaii Life Real Estate Brokers
Cell: 808.557.5322
annie@hawaiilife.com

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)

Large Waimea Home For Sale with Quality, Value, and Convenient Town Location

Karen Ferrara, R(S) — Tue, 31 Jan 2012 05:45:29 +0000

Town/Dry Side Waimea, Low Inventory, Increasing Prices, and Velocity of Sales

According to MLS data, there are presently only 13 active listings between $500,000 and $1,000,000, from town to dryside Waimea, and prices are on the rise. Year over year, in this market (from 2010 to 2011), there was a 50% INCREASE in sales with 15 sales in 2011 compared to 10 sales in 2010. Prices were up almost 10% with the average 2010 sale of $661,090 compared to average 2011 sale of $717,833.

Hokuula Home (MLS# 249232) Gets High Marks on Buyer’s Wish Lists

Buyer’s Wish Lists and Checklists

Buyers often have a very specific wish list of characteristics they are looking for in a home purchase – even with checklists on clipboards to take note of features and likes/dislikes. Seldom do we find properties on the Waimea/Kamuela market that meet EVERY criterion – Price range, location, good condition, guest quarters, extra bedrooms, etc… There is usually some compromise on location or price, or condition, number of bedrooms, or square footage; that is until (MLS# 249232) came on the market…

4 bedrooms PLUS downstairs guest quarters, or 3 bedrooms plus office plus artist studio (don’t forget the separate entrance!)
Quality
Good condition
Fenced, grassy yard
Oversize garage – room for cars and workout or workshop
Spacious, attached, self contained, secure storage locker to store everything
Chef’s kitchen with stainless steel appliances and custom cabinetry
Convenient location in the heart of Waimea town within walking distance to schools, hospital, shopping, restaurants, and farmer’s market
Style
Architectural features – T&G ceilings, ohia poles, over sized picture windows
Views – 3 mountain views and western sunset views
Office space, art studio, or gym
Guest quarters with private entrance

Hokuula Home (MLS# 249232) Presents Value Opportunity

With inventory low and prices increasing, this property (MLS# 249232) is listed at $627,500 with 2,833 sq. ft., 4 bedrooms, 3.5 bathrooms, and downstairs guest quarters, presents an exceptional value. $222 /square foot doesn’t include 866 square feet of lanais and TREXX decking.

This home is the best bargain presently on the market in terms of price per square foot, quality, location on the town to Dryside Waimea market today!

Separate Guest Quarters Downstairs with it’s own entrance.

Fairways At Mauna Lani Condo For Sale with Private Lanai

Dan Fumento, R(S) and Marion Fumento R(S) — Thu, 26 Jan 2012 04:30:11 +0000

Unit 506 (MLS# 247728) is in a great spot on the corner of the complex, so the lanai has fairway views and is very private. It has two bedrooms/two bathrooms for a total of 1,289 square feet. Soaring ceilings, tiled throughout, and sold furnished, this is a great condo in a great location and offered at $498,000.

The Fairways At Mauna Lani

The Fairways At Mauna Lani is in walking distance to the shops and restaurants at the Mauna Lani Resort and a short two-minute ride to the Private Beach Club enjoyed by Mauna Lani residents. The Fairways is bordered by the golf course on two sides and, in our opinion, the best condos are the ones overlooking the course.

Just Listed – South Kona Mango & Coffee Farm with Spirit

Erik Hinshaw, R(S) — Fri, 20 Jan 2012 01:36:29 +0000

The property stops you in your tracks and you forget, for a moment, that the rest of the world is out there.

Some properties have a special feeling about them and this leasehold Big island farm is one of them. I brought a Hawaiian coffee farm consultant to see the property and he couldn’t stop talking about it—and this guy sees a lot of farms.

Location

This farm is set on hillside which slopes down towards the ocean and looks out over one of Hawaii’s most sacred spots, pu’uhonua o honaunau or Place of Refuge (an ancient Hawaiian temple and now a National Park). It is easy to see why the Hawaiians chose this area for a temple. The seller named the farm “Sweet Spirit Farm” and you can learn the story behind the name at her website, www.sweetspiritfarms.com.

The Home

A newer home, built in 2004, with panoramic views sits at the top of the gently sloping property. A spacious lanai surrounded by lawn off the great room and master suite is the perfect place for watching whales, sunsets or star gazing. My favorite touch is a private outdoor lava rock enclosed shower off the master suite.

Coffee Processing

Next to the home is a state of the art coffee wet mill for processing the fresh coffee cherry. No expense was spared; concrete drying deck, stainless machinery and tanks, imported equipment. Nothing but the best for Sweet Spirit Farms.

The Farm

The majority of the 10 plus acres is planted in coffee and a variety of gourmet mangos. Both the coffee and mango trees are all just coming into maturity. The land is fully irrigated and although county water is available a catchment system was installed to save on the water bill and provide irrigation. There are a few remaining acres which could be planted in coffee, mango or another crop that would thrive here such as dragon fruit.

Worker’s Cottage

Near the bottom of the property is a newly built workers’ cottage. This one bedroom cottage is off grid with solar and propane for power. It’s perfect for housing workers or family. The main home is on solar as well but is connected to the grid.

This is a leasehold farm. The majority of the coffee, fruit and flower farms in the Kona Coffee Belt are leasehold. The lease rent is relatively inexpensive and I’d be happy to explain the ins and out of leasehold.

Looking for a modern state of the art coffee farm, in a gorgeous location with a sweet spirit? This is it (MLS# 250053).

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)

Deal – Brand New $475K Home For Sale With Attached 1-Bed Cottage in Wailuku

Rustin Singleton, RS — Sat, 14 Jan 2012 03:45:15 +0000

This is a brand new home that went into foreclosure right after it was completed. It is located in Wailuku, which is 10 minutes from the airport on the northern side. This is in a great central location for anyone who wants a regular home instead of the tourist types in our resort towns.

This home (MLS# 340514) sits on a huge lot of over 12,000 sq. feet. It also has an attached 1-bedroom cottage for that mother-in-law, or to use as added income. The price just reduced to $475,000 down from $589,000. Over 2,400 sq. feet of living space and the 500 sq. foot cottage make this a steal of a deal. Don’t wait on this one!

This is in an older neighborhood that has seen a great deal of revitalization over the past few years. It is literally 100 yards to the ocean. The views from the deck are superb. There are whales on this side of the island along with the cruise ships that come and go. The beaches aren’t much here, but the surf is always great.

Don’t wait on this one! I have seen it personally and have even taken some video. It is in a great location and will move quickly with this new price reduction. Feel free to ask me about it, or any other listing you see.