Real Estate Investment and Development is Back for Oahu Luxury Properties in Kahala

Kahala is Oahu’s premier luxury neighborhood on Oahu. It has come a long way since its days way back when the area was populated with pig farms and was mostly Leasehold. During the past decade, re-development in the area has been ripe for developers of luxury homes. Although new home builds decreased with the recent financial crisis, things are heating up again.

One of my favorite recent builds is this single level luxury home on 4567 Aukai Ave. (MLS# 1206448) listed at $4,450,000. This property has 11,250 square feet of land (a pretty good size lot for the area) and over 4,900 square feet interior.

Kahala Development Property (Before)

Last year (in its place), there was a 1,116 square foot cottage built in 1936. Here are the before pictures from earlier this year when the property sold for $1,400,000.

Front of house

Dining area

Guest Cottage

Kahala Development Property (After)

Here is a drawing of what this property will be in April 2013. It was listed in June 2012 at the list price of $4,450,000 and went into escrow within 11 days – now that is quite the development investment markup we like to see in a strengthening market.