Want to buy 20 acres near Hawi at a “fire sale” price? A new foreclosure listing in the Puuepa Ranch subdivision in North Kohala was just released at $642,900 and is sure to attract interest! This parcel was purchased by the previous owner in 2006 for $1.2 million.
Historic site below Puuepa, Hawi
Although there are many larger acreages sold in North Kohala and elsewhere on the Big Island at prices double what the current market value would be, lenders were never as aggressive with land loans as they were with residential mortgages, so few of them appear on the market as REOs (foreclosures). That makes this a rare opportunity.
Hawi wind farm seen from Pueepa
Puuepa is a small gated subdivision of a dozen 20-acre ocean view parcels, nearby some of the most historic sites in North Kohala, the birthplace of Kamehameha the Great and the Mookini Heiau. The special energy here is palpable. Cattle and horses graze on lush pasture, and the soil is rich for farming. The town of Hawi with its restaurants and shops is minutes away. North Kohala is perfect for a sustainable lifestyle, with wind and solar electric options although this subdivision has full underground utilities.
I view Puuepa as an undiscovered gem among the options for raw land in Kohala. You have all the advantages of a gated subdivision, without monthly dues and with only minimal CC&Rs (contact me if you’d like to see a copy).
With contractors and architects readily available, it is a great time to build. And there are land and constructions loans available with 30-35% down at very attractive rates. That must be why I’ve got two North Kohala parcels currently in escrow!
A hui hou,
Beth Thoma Robinson, R(S)