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Auctioning off the high end… gasp! At Hualalai Four Seasons Resort

Many of you reading this blog are likely to have visited the Big Island in the past, and perhaps you were one of the lucky ones fortunate enough to spend a night or two – or a week – or a month, visiting the Four Seasons resort at Hualalai. Arguably one of the best resorts in the world, The Four Seasons Hualalai prides itself on its exclusive, yet down-to-earth “vibe” and, of course, it’s world-renown customer service. It’s no wonder that owning a home in this resort has been a dream for many – and reality for some. Today this dream is one step closer for two lucky bidders as for the first time ever, two homes at the Four Seasons Hualalai at Historic Ka’upuhelu Resort went on the auction block with no reserve.

  1. 720151 Laueki St, Big Island
  2. 720155 Laueki St, Big Island

I was fortunate enough to preview these two homes last week with some clients who have decided not to participate in the auction. In an interesting twist of fate, I recall being on this very street previewing lots about four years ago with a Broker colleague, and we stopped to take a good hard look at these houses as they were being framed – we were in sticker shock at the then-asking-price of somewhere around $10-12M for each home. Apparently, as it turns out, no one else felt they were worth paying that price either…the developer was eventually foreclosed upon – and the FDIC recently took over the bank that held title to the house. Hmmmm. Trouble in Paradise??

When asked if the auction today would “re-set” the pricing for homes at Hualalai, the on-property Realtor thought probably not. I understand his point – at the very high end of the market, most owners do not have to sell, and thus can literally afford to sit around and wait to sell their property at a price they dictate. However, this is no ordinary market, in a very non-ordinary economy… we will know for sure in 30 days when the two properties close. What we know now is the auction was “fast and furious” – there were 12 bidders and both properties were under contract in 10 minutes time. Perhaps the face of the luxury property market along the entire Kohala “Gold” Coast is about to get a thorough scrubbing.

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Byron Barth

August 12, 2009

Aloha, Katie! As always, I thoroughly enjoy your articles. The two links in your first paragraph above work just fine. However, the links to the two listings on Laueki Street do not seem to work for me on both my Windows and Mac computers. Just thought you should know. Mahalo!

Byron Barth

August 12, 2009

Aloha, Katie! As always, I thoroughly enjoy your articles. The two links in your first paragraph above work just fine. However, the links to the two listings on Laueki Street do not seem to work for me on both my Windows and Mac computers. Just thought you should know. Mahalo!

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August 12, 2009

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August 12, 2009

[…] Auctioning soured the high end… gasp! At Hualalai Four Seasons Resort … document.write(”); Share and Enjoy: […]

Katie Minkus, R(BIC)

August 13, 2009

Aloha, Bryon… thanks so much for the heads up! Apparently, when a property gets marked as “u” for “under contract” in the MLS, our service stops importing the property information because it is assumed the property is proceeding toward closing. If they had marked it as “c” for “contingent” the Hualalai properties would still be showing up. Thought you might want to know! Warm aloha, Katie

Katie Minkus, R(BIC)

August 13, 2009

Aloha, Bryon… thanks so much for the heads up! Apparently, when a property gets marked as “u” for “under contract” in the MLS, our service stops importing the property information because it is assumed the property is proceeding toward closing. If they had marked it as “c” for “contingent” the Hualalai properties would still be showing up. Thought you might want to know! Warm aloha, Katie

Byron Barth

August 13, 2009

Thanks for the informative reply, Katie. Since us end-users don’t see the U or the C, it can be a mystery as to why links won’t work in posted articles. KEEP UP THE GREAT WORK!! -Byron

Byron Barth

August 13, 2009

Thanks for the informative reply, Katie. Since us end-users don’t see the U or the C, it can be a mystery as to why links won’t work in posted articles. KEEP UP THE GREAT WORK!! -Byron

Ben Welborn

September 25, 2009

Katie,

What did these two homes eventually sell for?

Ben Welborn

September 25, 2009

Katie,

What did these two homes eventually sell for?

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