Ka Milo at Mauna Lani—the community of paired and freestanding homes that shares an amenity center with Kulalani next door—is an anomaly. Uniquely among the Kohala Coast resort communities, it still has an on-site sales office selling homes pre-construction. Buyers, however, have so far favored what’s already built over what they can see only with a hard hat on their heads.
Last week, my lucky buyers closed on the only completed paired home for sale by the Ka Milo developer (although they will still use it as a model home through the end of the year, if you’d like to see it!).
This home was a fabulous opportunity, as coincidentally, years ago my business partner, Pam Deery, R(B), had sold it pre-construction to the original buyers who ordered all the luscious upgrades—like wood flooring and a wine cooler—to the tune of $160,000 before canceling. At the time, the purchase price was $1.4 million; my buyers got it all for $865,000.
The Ka Milo developer also closed a week earlier on its newest completed home, similar floor plan, but a detached home on the golf course for $1,295,000. Buying one of the developer’s listings under construction will allow the purchaser to pick at least some of the finishes and upgrades.
They have four homes listed for sale at prices from $799,000 for 1,653 sq. ft. (the building nearest the road…but there are ways to mitigate any noise)…to $1,395,000 if you want the next detached home on the golf course.
There are also three resale listings at Ka Milo. One is the only 4-bedroom condo for sale at Mauna Lani resort (MLS# 246447). Another Ka Milo paired home had a price reduction last week to $999,999 (MLS# 246268)…but I believe the seller should accept quite a bit less for reasons I already have blogged about. HINT: “Flipping” doesn’t always refer to the burgers sizzling on those built-in outdoor grills…