Big Island

Best Buy at Kohala Ranch – $700,000 Price Reduction

Despite the slower start to this year in Kohala Ranch real estate compared with 2010, we’ve seen a very steady pace of sales resulting in a surprisingly strong market. The seven residences sold, plus two in escrow, mean the total number of sales is now even with the full year 2010! Prices ranged from $630,000 for my previous best buy pick in the Meadows (the lowest price for a Kohala Ranch residence since 2004) to $1,925,000 for an estate in the Heathers.

It’s been six months since I last reviewed the available inventory of homes for sale at Kohala Ranch. Of my April picks, two have sold, and another of my best buys is currently in escrow.

There are only twelve homes currently listed for sale at Kohala Ranch and they fall into three distinct price groupings. There are six homes listed near the $1 million price point, four listed near $2 million, and two sitting above the pack price-wise nearer the $3 million mark (and at the higher elevation of the Summit).

Lower Heathers estate now $1,999,999 after a $700,000 price reduction (MLS# 240141)

Arguably the current best buy at Kohala Ranch—the home that shifted from the most expensive category to just under $2 million thanks to a $700,000 price reduction! This Kohala Ranch estate (MLS# 240141) was built as a model home on the private cul-de-sac just above the entrance gate.

The house has four bedrooms and over 4,000 sq. ft., and the extra large lot is 5 acres with mature palm trees. The view from the pool is nothing but ocean, ocean, and perhaps the passing ship or breaching whale.

The biggest problem with this house—from the standpoint of an agent who wants to sell it!—is that it is an active vacation rental so booked up it is almost impossible to show. From a buyer’s perspective, the kitchen needs updating to today’s food channel standards, but you can change the interior and finishes on any home…and this property has location, location, location.

If your budget is $1 million rather than $2 million, you are still in luck.

Vintage Kohala Ranch 4-bedroom home in need of TLC, easy to do at a $998,000 asking price!

Let’s go back to my remaining best buy from April, now reduced an additional $100,000 to $998,000 (MLS# 243939) and likely to look at all offers, in my opinion.

If this home were given a thorough cleaning, properly staged, and obvious small maintenance items addressed, I believe it would have sold already. It is at that desirable Heathers elevation, has a pool, views, and functional floor plan. Updating the kitchen and bathrooms to give it that modern, resort finish is an easy project for the right buyer.

I’m also really intrigued that both homes of the only “CPR” ever allowed at Kohala Ranch are currently available. A buyer looking for a family compound could acquire both for around $2 million: two homes, six bedrooms, over 5,000 sq. ft…but that sounds like a blog post in itself!

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