Looking for new construction in the Waikoloa Beach Resort? Take another look at Ainamalu. With home prices ranging from $850,000 to $2,600,000, it is “fairly reasonable” for a luxury resort home on the Kohala Coast.
Ainamalu has come along way from its limping inception several years ago. Granted, the project seemed a bit ambitious at the beginning in 2017. Over 400 “green” homes, off-grid solar and a self-contained propane gas farm were planned. During Phase I, the developer found being entirely off the grid was a challenge. Although homes had Tesla solar panels and batteries for back up, they were still tied to the grid. Now all Phase II homesites being released will be off grid.
Developer JPL Hawaii had some difficulties with contractors in the beginning that led to long (15 months or more) times to deliver the final product. There were a large number of cancellations early on implying a lack of confidence in the development. Buyers were concerned the project would stall halfway through or sooner. They also worried about the large amenity center not being completed.
Full Speed Ahead
As with most new projects, lessons were learned, systems streamlined, and the actual building went more quickly with better quality control. JPL seems to have found a contractor they can work with satisfactorily. The site no longer looks dormant when driving by. It seems like every other day there is a new slab poured or a new roof going on. Phase I forty lots are sold out, and the homes are almost completed. Twenty Phase II homesites have been released, and five have already sold. Build out prices will range from approximately $830,000 to $1,490,000 on lots 15,000 to 18,000 square feet.
The permit applications have been submitted for the large pool and amenity center. Construction will most likely begin in 2020. Eventually, five miles of jogging/walking paths will be part of the 252-acre gated community.
If you need more information about Ainamalu, please feel free to contact me directly. If you haven’t read my blog about why you want your own Realtor when purchasing in a new development, definitely give it a read.
Hawaii Island homes range from old classics to modern homes, both being in short supply. New construction is needed to keep up with the demand. These homes may be in a small community or a large planned community like Ainamalu. I enjoy watching how these projects develop and love working to help people move into them. Interested? Give me a call.