As I reported a few months ago, Puako real estate sales are strong this year. There have been three additional sales since then, plus the closing of the home in escrow, for a total of 11 sales versus a typical year of around five homes changing hands in Puako!
But with five oceanfront listings and four homes for sale on the mauka side of Puako Beach Drive, there is still a good selection of property available for Puako buyers with target different price points and objectives. Two Puako oceanfront homes were open on the most recent broker caravan. One of them is a newer home that has never been rented and the other is a plantation style home with a healthy rental track record.
Puako…the oceanfront community in between Mauna Lani Resort and Hapuna Beach.
Luxury Home with Elevator – Maximum Views and Accessibility
In a resort or oceanfront community, architects often suggest building two-story homes to maximize the sweep of ocean views. However, the trend towards aging-in-place and universal design for accessibility often means that we find a bigger market of potential buyers for single story homes. One of the recently listed Puako homes (MLS 621293) solved this contradiction brilliantly, with an elevator servicing its four levels.
Door to the left is an elevator that serves all levels including this suite for a live-in caretaker or caregiver
The home is 5,388 sq. ft., 5 beds/5-1/2 baths, and has over 100 feet of oceanfront…at a spot on the coast where one can actually get easily into the water, which may be an even more important “accessibility feature” of this Puako property. This residence was built for a family who never rented it, just enjoyed their prime location.
From the second floor, it is easy to see the sandy beach and protected swimming spot in front of this Puako home, asking $6,100,000 (MLS 621293)
Established Puako Vacation Rental with Hotel Zoning
While most of Puako is zoned residential, which means under the new vacation rental regulations any vacation rental needs to be already established and file for a non-conforming use permit, a handful of lots are zoned V-1.25 which is a hotel zoning. Short term rentals are a permitted use for homes built in hotel or resort zones.
One oceanfront home for sale with a vacation rental track record has this more liberal zoning, so whichever direction future restrictions go, it should be protected. If having investment income is one of your criteria, consider #8 Puako Beach Drive (MLS 612392), listed for $3,950,000. The home has four bedrooms with ocean views, as well as a caretaker suite above the garage.
Peaceful oceanfront view from the bedroom of this Puako vacation home for sale (MLS 612392)
Prices for Puako homes range from $895,000 for an original cottage on the non-oceanfront side of the street (MLS 617240), to $8,500,000 for another two-story home with infinity edge pool- a rarity in Puako (MLS 623478). There is also vacant land for sale if you prefer to build. Feel free to contact me to discuss the options.