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Construction Costs All Over the Board

My recent experience in finding a builder in the Kohala Coast resorts for my clients has reflected the importance of seeking multiple estimates, as builders’ proposals can range far and wide.

My clients felt that the lot and location of their newly purchased land would dictate the style of their home, and had their own architect lined up from past projects. The challenge, however, came with getting a “fair” estimate from a builder. In speaking with three builders and a project manager who worked for Paul Allen’s properties, the numbers were indeed varied, ranging from $250 per foot from a builder in Kohala Ranch to $700 per foot quoted by a builder who “specializes in resort building.” My clients were both frustrated and amazed at how the same house plans could range so widely, especially in a market that has construction slowed to a snail’s pace.

It came down to a “proposal/estimate” being compiled by a leasing manager who had a son who is a builder…you are getting the picture of how the coconut wireless works here on island…. The end result was that the builder for their lovely upscale Mauna Lani home assisted in providing figures of $540 per ft which included the pool and koi ponds that ran throughout the property.  In backing out the “extras” of the pool and ponds, the hard costs in this instance came to approx $485 per foot.

I have built with my husband a number of times and have seen both the $250 per foot home (which was surprisingly beautiful) and many $700 per foot homes, and there is no confusion which one I prefer!

Myself, I could probably live just fine in a $485 per foot home….

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Beth Robinson R(S)

July 22, 2010

Thanks for posting these specifics, Pam. I have heard this story over and over from clients to whom I’ve sold lots in the past few years.

Beth Robinson R(S)

July 22, 2010

Thanks for posting these specifics, Pam. I have heard this story over and over from clients to whom I’ve sold lots in the past few years.

Katie Minkus, R(BIC)

July 22, 2010

Fascinating post and research, Pam. It would be interesting to find out if there were a price differential depending on which neighborhood your clients want to build. I”ve found in the past contractors will charge more simply for building in a more upscale luxury area than another. The good news is perhaps the days of $1800/sqft are gone… at least for now!

Katie Minkus, R(BIC)

July 22, 2010

Fascinating post and research, Pam. It would be interesting to find out if there were a price differential depending on which neighborhood your clients want to build. I”ve found in the past contractors will charge more simply for building in a more upscale luxury area than another. The good news is perhaps the days of $1800/sqft are gone… at least for now!

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