In my blog posts about licensed Big Island bed-and-breakfast or inn options, I have highlighted as a favorite the luxurious Ohia Park Estate property in Kailua Konaʻs Kaloko Mauka neighborhood. Now the property is set to be sold by way of a Concierge Auctions sale, with bidding open October 30 – November 2, 2020.
What I Love about Ohia Park Estate – For a Family or Income Property
I have shown this property to clients looking for an income-producing bed-and-breakfast or retreat option, but it could also work as a great family home, especially in these times when buyers are looking for a self-contained live-work-play environment. For anyone looking for a larger property they can rent short-term, the newish Hawaii County short-term vacation rental law, and the possibility of increased restrictions on hosted rentals make this a valuable asset.
The property was originally built as a family home, then bought by the current owners, an architect and a hospitality industry professional, who renovated and turned the estate into a sought-after short term vacation rental which they hosted with their meticulous Swiss approach. I enjoyed many an espresso in the course of showings, made with $60/lb Kona coffee.
Whether for a couple who likes to have house guests but might be the only ones in residence for long periods, or for a B&B host wanting privacy from their guest suites, the northern wing of the house offers a great room with large kitchen, dining areas, access to the expansive decks for outdoor dining, a living room with fireplace and built-in bookcases…plus an ownerʻs suite that includes its own sauna; a second bedroom; and a separate office.
Each of the four south wing guest suites has its own living room and en suite bath. Besides the large ocean-view decks, the downstairs level has a gym, game room, a “pub,” and access to storage and over-the-top mechanicals.
Although it currently lacks a pool, the three acres provide plenty of room to expand. Some of it is grassy lawn, and portions have the stately native ʻohia trees from which the property takes its name.
The Concierge Auctions Experience
If you are new to the Concierge Auction experience, no worries. I have represented several bidders on luxury auction properties over the years, including when the auction was an in-person event, with buyerʻs representatives in a room and the bidders on the phone with them. Now bidding takes place online, and the process is not at all intimidating but I am happy to represent you and hold your hand through it.
Key things to know:
- Bidding requires registration, proof of funds, and a $100,000 refundable deposit to show your seriousness.
- Sellers disclosure and other documents are available for review. There is no post-auction due diligence.
- Cash purchases only.
- Buyers pay a 12% auction premium, but there are strategies to offset that with a pre-auction opening bid.
- The property is listed for $2,997,000 but is being sold with no reserve.
It does not cost you any more to have representation, which is why most bidders choose to have the guidance. Feel free to call me if you are interested in having me do a virtual showing with you. Or if this is not quite the right property, I can think of some excellent alternatives with similar features!