Concierge Auctions – Naupaka Place Oceanfront Home

I was looking back through my blog posts to find the first time I blogged about a listing being sold with Concierge Auctions (2010?), and the blogs when I had lots 7 and 8 listed at Naupaka Place, the oceanfront single family home community in Waikoloa Beach Resort (they sold in 2013). I came across this one from 2011 about auctions at Kolea, the home and condominium community next door (across anchialine ponds) from Naupaka Place – in which I tried to distinguish between the luxury goods auction model, and the foreclosure auction which eventually resulted in my listings. That kind of fits the bill to introduce todayʻs post.

Auction Alert: Kohala Coast Resort Home with 124 Feet of Oceanfront in Gated Community

Directly on the oceanfront at Waikoloa Beach Resort, this home on Naupaka Place will be auctioned via online bidding beginning March 27th

There are currently 8 homes on the Kohala Coast listed for $20 million or more (including one at the Bluffs at Mauna Kea asking $19,800,000 but Iʻm not quibbling over pocket change). The opportunity to get one of these top tier homes at a relative bargain would be with the Seller who has opted to employ Concierge Auctions to be certain of a sale by a determined date: in this case, the auction will close on April 8th at 10 pm EDT. Here are the details on the auction offering for Pacific Sunset Villas.

Besides the hope of getting a luxury oceanfront resort home at below market price, why is there significant interest in this offering? Well first, Naupaka Place has only 11 lots, of which 9 have ocean frontage. To add to the plot, four of the lots are in a single ownership, with a single home on them (and a building permit for another). What I am trying to suggest is that there are – and will ever be – few opportunities to own at Naupaka Place. And although there are single family homes next door at Kolea, that community also has condominiums. The other oceanfront property within Waikoloa Beach Resort that was intended for homes became the Haliʻi Kai condominiums. So if you want to walk to Anaehoʻomalu beach from an oceanfront home, you have roughly two dozen properties. Ever.

Looking towards the bar and the wing with the primary suite. Quality finishes and carefully selected furnishings throughout the home.

Please ignore the reference that “views of fiery volcanic eruptions elevate every moment” in the Concierge Auctions description. Who wrote that? The eruption is a good two hour drive to the other side of the island, and luckily the ocean breezes will keep you from experiencing the vog. The basics are that this is a home of almost 5,000 sq feet with 4 bedrooms, 4 full and 3 half baths, an office, a movie theater and an upper level deck for sunset cocktails year round and whale watching in season, plus an oceanfront tea room. Lot 3 (how I think of this home) is on the quiet side of the community, bordered by historic anchialine ponds rather than by the luau grounds of the Hilton Waikoloa Beach Resort.

Anchialine ponds are a historic feature at Waikoloa Beach Resort. Cars are parked for shoreline public access.

The Concierge Auction Experience for Buyers

I have written about this process many times. The basic thing to know is unlike the early days when we had agents on phones in a single room with their clients, Concierge auctions now happen on line over a period of days. As you might expect though, the real action happens in the final minutes.

As with auctions of other luxury goods, there is a “buyer premium” – essentially the buyer pays commissions for the agents and the auction house. The best way to save on what you will pay as the winning bidder is to place a substantial starting bid – your premium is reduced on that amount of the final price. Auction opens on March 26th, so if you want more information about the process or the property, contact me in the next couple of weeks!