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New Halii Kai Luxury Condo Foreclosure Under $400K

The Halii Kai foreclosure you’ve been waiting for!

Since the developer at Halii Kai sold out of the smaller 2bed/2bath “Mahana” model in the Coconut Grove, there has been nothing at Halii Kai for sale listed below $400,000. That is going to change tomorrow, December 3rd, when I’m told a new REO (foreclosure) will be released at just under the $400,000 price point.

Oceanfront amenities at Halii Kai are what keep it the best-selling, and best-renting condo complex

The condo to be listed for sale is also the smaller 2-bedroom floor plan, but is on the golf course (no ocean view), and unlike most of this floor plan, comes with a garage rather than a carport. It is a HomePath property, meaning that it is Fannie Mae-owned. That means as a prospective buyer, you will have all the same “rules” as with any bank-owned property, and then some.

  1. All offers must be accompanied by proof of funds for an all-cash offer, or a pre-qualification letter from a bank if you would be financing.
  2. The sale will be “as is” although you can request an inspection period. You will pay for some of the closing costs that would ordinarily be the Seller’s.
  3. As a HomePath property, the first three days are reserved for offers from buyers who would be using it as their primary residence. Then it will be open to all others. The seller reserves the right to look at multiple offers, and may come back with a request for your “highest and best” offer.
  4. Ordinarily, HomePath properties are eligible for special financing, but this one will not be since Halii Kai is classified as a resort condo. That means if you plan to finance, you will need at least 30% down.

If this sounds like the opportunity you’ve been waiting for, contact me directly for more information, and to explain how we handle “unintentional dual agency” if more than one Hawaii Life client is interested in making an offer (I first learned the term, actually, in the bidding war over Halii Kai 16C in 2009!).

A hui hou,

Beth Thoma Robinson, R(B)
Direct: 808.443.4588
Email: beth@hawaiilife.com

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Claire Bajo RS

December 19, 2010

Aloha Beth! Thank you so much for helping me with viewing the Hawaii Life units at Hali’i Kai a couple weeks ago!

Hali’i Kai is “Hawaii Private Resort Living” at it’s finest..and at such an affordable deal for a Waikoloa oceanfront community that has units from $398,000 to $1,000,000+! The amenities in there are first class… I can’t wait to show the other investor clients this property! Do you also do property management for the vacation rental units in this complex? ..I would imagine vacation rental management a lucrative business in this complex.. Mahalo Beth!

Claire Bajo RS

December 19, 2010

Aloha Beth! Thank you so much for helping me with viewing the Hawaii Life units at Hali’i Kai a couple weeks ago!

Hali’i Kai is “Hawaii Private Resort Living” at it’s finest..and at such an affordable deal for a Waikoloa oceanfront community that has units from $398,000 to $1,000,000+! The amenities in there are first class… I can’t wait to show the other investor clients this property! Do you also do property management for the vacation rental units in this complex? ..I would imagine vacation rental management a lucrative business in this complex.. Mahalo Beth!

Beth Robinson R(B)

December 20, 2010

Hi Claire, thanks for your great comment. Hawaii Life sells more Halii Kai resales than any other company, probably because we are all such big fans!

I do not do any property management as I already have built a team just to handle my volume of listings and buyer clients…but there are quite a few good options. Castle Resorts is on site, but owners are not required to use them. I can give prospective buyers 3 or 4 other names; several do it very successfully themselves!

Beth Robinson R(B)

December 20, 2010

Hi Claire, thanks for your great comment. Hawaii Life sells more Halii Kai resales than any other company, probably because we are all such big fans!

I do not do any property management as I already have built a team just to handle my volume of listings and buyer clients…but there are quite a few good options. Castle Resorts is on site, but owners are not required to use them. I can give prospective buyers 3 or 4 other names; several do it very successfully themselves!

Katie Minkus, R(BIC)

December 20, 2010

Aloha ladies. You probably know this already, but Victorius (developer’s rep) is back from maternity leave and she’s telling me Hali’i Kai is preparing to do some intense negotiating and offer some AMAZING deals for the winter selling season. Perhaps this year Hawaii Life won’t just sell the most resales, but the most developer units as well! A new goal!! hee.

Katie Minkus, R(BIC)

December 20, 2010

Aloha ladies. You probably know this already, but Victorius (developer’s rep) is back from maternity leave and she’s telling me Hali’i Kai is preparing to do some intense negotiating and offer some AMAZING deals for the winter selling season. Perhaps this year Hawaii Life won’t just sell the most resales, but the most developer units as well! A new goal!! hee.

Beth Thoma Robinson R(B)

December 20, 2010

@Katie – the other developer agents also announced this to Realtors on caravan the week before Vic returned…and last week holding Open House we had a buyer stop in who is in escrow on one of their sweet deals so we have a feel for what they are offering. They are doing their best to compete with our short sale listings, but some of ours come furnished with a rental track records, so either way there are pluses and minuses.

Beth Thoma Robinson R(B)

December 20, 2010

@Katie – the other developer agents also announced this to Realtors on caravan the week before Vic returned…and last week holding Open House we had a buyer stop in who is in escrow on one of their sweet deals so we have a feel for what they are offering. They are doing their best to compete with our short sale listings, but some of ours come furnished with a rental track records, so either way there are pluses and minuses.

john

March 6, 2011

Friends just returned from a stay at Halii Kai. Overall, enjoyed the property. BUT …. they felt there is possibly an issue between on site owners and the many short term rental guests as they all want use of the Ocean Club. They did not feel very welcome as in “a” larger resort pool area. Owners seem to want it very quiet.

Secondly, they look at a unit for sale but were led to believe that the home owners don’t even own the the Ocean Club. Possibily the HOA is trying to take it over … buy it???? Maybe some on island here say is in order.
Thanks,
John

john

March 6, 2011

Friends just returned from a stay at Halii Kai. Overall, enjoyed the property. BUT …. they felt there is possibly an issue between on site owners and the many short term rental guests as they all want use of the Ocean Club. They did not feel very welcome as in “a” larger resort pool area. Owners seem to want it very quiet.

Secondly, they look at a unit for sale but were led to believe that the home owners don’t even own the the Ocean Club. Possibily the HOA is trying to take it over … buy it???? Maybe some on island here say is in order.
Thanks,
John

Beth Robinson R(B)

March 6, 2011

@ John, interesting dilemma at many of our Kohala Coast resort communities,where there is a mixture of owners who have a property for their own use, and others who rent. I can see how owners might become resentful of renters at peak times, but I am sorry if your friends felt they were not made welcome.

It is correct that the HOA does not own the Ocean Club. That dates back to the original concept the developer, Centex Destination Properties had, where they put in more extensive amenities at several of their new projects with a sister company to run them professionally, since that is not an area of expertise volunteer HOA Boards usually have. Even when I sold for the developer years ago, that structure made some prospective buyers uncomfortable. But plenty of lawyers and real estate developers were among those who bought, so evidently they got comfortable with the idea. My guess is that yes, it will eventually revert to the HOA.

Beth Robinson R(B)

March 6, 2011

@ John, interesting dilemma at many of our Kohala Coast resort communities,where there is a mixture of owners who have a property for their own use, and others who rent. I can see how owners might become resentful of renters at peak times, but I am sorry if your friends felt they were not made welcome.

It is correct that the HOA does not own the Ocean Club. That dates back to the original concept the developer, Centex Destination Properties had, where they put in more extensive amenities at several of their new projects with a sister company to run them professionally, since that is not an area of expertise volunteer HOA Boards usually have. Even when I sold for the developer years ago, that structure made some prospective buyers uncomfortable. But plenty of lawyers and real estate developers were among those who bought, so evidently they got comfortable with the idea. My guess is that yes, it will eventually revert to the HOA.

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