Turtle Bay Resort has some great deals!
Aerial view of Turtle Bay Resort
Turtle Bay Resort on Oahu’s north shore currently has some fabulous real estate opportunities. All of the condos at Turtle Bay were built in 2005, and have access to the resort amenities such as: concierge service, tennis courts, exercise room, heated pool, room service and housekeeping, resident manager, security guard, walking/jogging path, shopping, dining, snorkeling, surfing, swimming, fishing, and championship golf course designed by Arnold Palmer in 1971.
These luxury units can be placed in the rental pool program to earn extra income if you so choose. There were 57 luxury condos that were built at Turtle Bay in 2005. The studio units sold for $1M plus, now there are 3 studios on the market all are priced under $500,000. The 3 and 4 bedroom units sold in 2005 from $1.5M plus, and today the asking price for the lowest unit is $1.145M.
Currently, there are 11 luxury condos available at the Turtle Bay Resort, and almost all are priced under their assessed property value. For instance, (MLS# 1012266) is listed for $1.2M and was purchased in 2005 for $1.7M. The unit is 3 bedrooms and 2 bathrooms, Brazilian chestnut floors, travertine marble stone entryway, the gourmet chef’s kitchen has top-rated appliances and beautiful ocean views. Today’s assessed property value for this unit is $1,311,800.
I know not everyone has $500,000 to invest, and maybe a luxurious oceanfront condo in Hawaii isn’t number 1 on your list. On the other hand, if you are a “fence sitter” that thinks property values will continue to drop in Hawaii, you might want to think again.
Property values here in the Hawaiian Islands are starting to edge up, and interest rates are at a historical low, so you might want to take advantage of this opportunity. If you’re waiting for prices to drop further you could end up with a “sore okole” (gluteus maximus region) from sitting on the fence too long.