Artist and Historian Herb Kane's Home For Sale on the Big Island
The home and farm of the late Herb Kane has just been listed for sale. Herb Kane, famous Hawaiian artist, respected historian, and one of the founders of the Polynesian Voyaging Society, made his home amongst the coffee farms of Captain Cook overlooking his beloved Kealakekua Bay. Just listed for sale, this 8 1/2 acres of lush tropical gardens and orchards, along with an elegant tropical home (MLS# 244415), is priced at $675,000.
The Herb Kane Estate
Over 34 years, Kane and his Ohana developed a tropical paradise on 8 1/2 acres. Set in a lushly landscaped park-like garden, and surrounded by a working orchard of avocado and macadamia nuts, is a home with style and character befitting an artist of Herb’s stature. Views abound.
There are a variety of buildings in the compound lending themselves to all sorts of living arrangements. The orchard is as lovingly cared for as the garden areas, so it’s hard to tell where one ends and the others begin. In the background are the incredible views of Kealakekua Bay, one of Hawaii’s most historic and picturesque bays.
Most famous for being the site of first contact between the Hawaiian people and Captain Cook (as well as the site of his demise), the Bay has had a rich history both before and after Cook’s visit. It is also famous for its many pods of dolphins who call it home. It’s not unusual to be surrounded by them when kayaking, swimming, or stand-up paddling in the Bay.
This is a leasehold property, a Kamehameha Schools Bishop Estates property. A buyer would be purchasing the lease to the land, the structures and the crops, not the land itself. This makes financing difficult and scares off a lot of buyers.
Consequently, a lot of agents will discourage you from considering leasehold. Most of them don’t understand it and only know that it takes more time. I have helped several buyers through the process. In my experience, it is simpler and less aggravating than a short sale. If you aren’t in a hurry, and want a connection to Hawaii like no other, I encourage you to consider it.
The sellers understand this and it has been priced accordingly at $675,000. There are few places in Hawaii where you can find an 8 acre luxury estate for that kind of price. One thing to keep in mind, which perhaps explains Herb Kane’s decision to own a leasehold property, the mission of the Bishop Estate is the education of Hawaiian children, and to preserve and perpetuate the Hawaiian culture, traditions, and values.
The monies paid them are used to support a private school system with the highest standards, preschool through High School, on all the islands. So, would you rather buy an estate for two to three times the price, which is what this would cost were it not a leasehold property and pay a mortgage to a bank or buy this for a third of the price, and pay your money to a trust for the education of Hawaiian children? There can also be significant write offs as it is a working farm and leased property, and you should check with a CPA for more on this.
If this sounds great, but your funds are more limited, then a farm I have listed just down the hill (MLS# 238994) is available for $350,000. This farm is a little over 9 acres and has multiple dwellings, including a main house with an over-sized lanai, and an orchard of mango and mac nuts. The orchard needs a little attention, but with some work it could look as beautiful as the Kane Estate.
This farm in Keei is a great deal at $350K, and is just over 9 acres