There’s a construction boom underway in a tiny Kohala Coast community. I’ve written previously about the small luxury enclave of Kohala Waterfront, a little gem of a neighborhood perched above the ocean along the Kohala Coast just north of Kawaihae.
There’s a construction boom underway in a small private subdivision in North Kohala
Last year saw increased construction within Kohala Waterfront and that construction continues to grow in 2015. All homeowners in Kohala Waterfront have to submit design plans to the Kohala Waterfront Community Association (KWCA) Architectural Review Committee (see my recent blog post about why good design protects your real estate investment.)
Based on plans submitted to the Architectural Review Committee, two homes are under construction, one home is nearing completion, and another six homes are in various stages of plans review. An additional four property owners have just submitted preliminary plans to the Design Review Committee with the intention of starting construction in the next few months.
What Makes Kohala Waterfront So Appealing?
Of the 50 lots in the community, 14 homes have been built. When you include the homes currently under construction and under review by the Architectural Review Committee, roughly half the community (23 out of 50) has been built out.
Why is this small, secluded luxury home community so popular and why are people building now? The feedback I get from homebuyers is that they like that the community is quiet with amazing views. These folks realize they are not resort people. They like the seclusion and small size of the gated community and the views are spectacular, whereas in the resorts you are on flat land and sometimes looking at your neighbor.
Plus there is a the added advantage that there is no time requirement to build after purchasing a lot, meaning buyers can pass down the property to future generations or wait until retirement to build their dream home.
There are a lot of different reasons why people are choosing to build right now in Kohala Waterfront. Several of the property owners are from the mainland and they’ve decided they want to retire in Hawaii in a place with gorgeous views. Some folks would rather build a home than put their money in the stock market, given the stability of the Hawaii real estate market.
It’s rare for completed homes in Kohala Waterfront to come on the market. However, there are currently 12 lots for sale, including two direct oceanfront lots offered at $1.299 million and $1.2 million respectively. Of the remaining lots for sale, 59-211 Lele Naia Dr. is the largest at 1.38 acres. Offered at $689,000, it’s also the second largest lot in the entire subdivision with views of three mountains (Mauna Kea, Mauna Loa, and Hualalai) and Kawaihae Bay.
59-211 Lele Naia Dr. (MLS# 269067)
Aloha from the best island, the Big Island of Hawaii!