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North Kohala Best Buys – $2M Homes Below Replacement Cost

Sunset along the North Kohala coast

These North Kohala coastal luxury “best buys” share sun-setting-into-ocean views (MLS# 235911)

What makes a $2.2 million home a “best buy”? Last night at dusk, I was standing on a near-oceanfront lot with the developer of Ranch at Puakea who is about to break ground on his own home there. Referring to a listing I have at Puakea Ranch (MLS #235911) across the road, we mused that right now in North Kohala you can buy a luxury home on acreage for less than it will cost him to build, not even factoring in the cost of his 20-acre lot. Of course he’s besotted with his special spot and so building is the right choice for him. But looking at the four homes currently listed between Kohala Ranch and Hawi at around the $2.2 million price point, there is something to be said for being able to move right in!

Sales Pace Hot for $2 million Homes in Kohala Ranch Heathers

The over $2 million sales pace has been hot in the lower section of Kohala Ranch known as the “Heathers.” Hot means three sales in the past 12 months at prices ranging from $2,050,000 to $2,600,000 (the Hawaii Life team grabbed a comparative bargain for our buyers at $1,850,000 to kick off the streak). Fortunately, two homes in the luxury category have recently been listed there, giving the current buyer options at the $2.2 million level.

The swimming pool and covered lanai in the photo below belong to a 3-bed/4,211 sq. ft. home sitting on an elevated five acre knoll which creates the sense of having nothing between you and the ocean (MLS# 237796). The layout of this home is meant for gracious living and entertaining. There is space for a grand piano in the formal living room, and plenty of room to lounge in the family room on the other side of the kitchen. Guests enjoy their own quarters with separate entrance. This home lives up to the term “estate,” and at a price competitive in today’s buyers market.

Poolside ocean views from Kohala Ranch Heathers home for sale

Kohala Ranch Heathers: the ideal swimming pool and whale-watching elevation (MLS# 237796)

The other new listing is just a bit smaller, 3,600 sq. ft. on 3.3 acres. Recently renovated, the most memorable aspect of this home is that, with the long-promised Kohala Ranch golf course still a future dream, this is the perfect Kohala Ranch home for the avid golfer to keep his or her game sharp (MLS# 237686):

putting green at Kohala Ranch house

Driving cage, practice tees, putting green at Kohala Ranch home for the golfer (MLS# 237686)

Only one residence currently available in Kohala Waterfront

Lots are less than an acre at Kohala Waterfront just makai of the highway, but this same price point will put you much closer to the ocean if that’s what makes your heart beat faster. Only one home is currently on the market at Kohala Waterfront (MLS# 227044), a 4 bed/4,500 sq. ft. looking like a lot of house for that location at that price. This is a two-level home with the entry level upstairs set up for stylish living and the lower level for play. With my favorite smaller Kohala Waterfront lot priced at $899,000 (MLS# 237418) and the remaining developer oceanfront double lot at $2.5 million (MLS# 233408), it is clear why I’m calling this residence at $2.2 million a “best buy.”

only home for sale at Kohala waterfront

Kohala Waterfront home is only two lots back from the oceanfront (MLS# 227044)

Puakea Ranch Residence—Keep horses or cattle on your 25 Acres

Although Kohala Ranch has equestrian easements, lots in the Heathers section are not ideally suited to keeping horses. For that, the better bet is to move on up the coast to the almost-new ranch home on 25 acres at an almost identical elevation in Puakea Ranch (MLS# 235911). Cattle still graze the 20-acre lower portion of the ranch, but you’ll see horses just across the fence. The quality of construction and finish on this home, not to mention its “green” features, put this one solidly in that best buy category as well. Of course, those sunset views in the photo above: priceless.

A hui hou,

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

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Erik Hinshaw

August 18, 2010

Beth, What beautiful properties. Is that price point seeing activity in Kohala? In Kailua Kona and Keauhou that price point is still relatively quiet with well priced exquisite properties sitting on the market. I used to say the same about the next tier down, $900,000 to 1,200,000 but those properties have been flying into escrow this last month. Slim picking in that price point now.

Erik Hinshaw

August 18, 2010

Beth, What beautiful properties. Is that price point seeing activity in Kohala? In Kailua Kona and Keauhou that price point is still relatively quiet with well priced exquisite properties sitting on the market. I used to say the same about the next tier down, $900,000 to 1,200,000 but those properties have been flying into escrow this last month. Slim picking in that price point now.

Beth Robinson R(S)

August 19, 2010

Hi Erik,
We haven’t had a closing over $2 million since June, so we are about due. Although the fall has a reputation for being slow, based upon August I think this year, like 2009, will be an exception to the rule.

Beth Robinson R(S)

August 19, 2010

Hi Erik,
We haven’t had a closing over $2 million since June, so we are about due. Although the fall has a reputation for being slow, based upon August I think this year, like 2009, will be an exception to the rule.

Annie Mendoza

August 19, 2010

I totally agree that the properties you’ve mentioned could not be replaced for the current asking price. I mean…25 acres at Puakea Ranch INCLUDING the estate! Surely a best buy. The Kohala Waterfront home has a ton more money being invested in the way of improvements as we speak! And the value of the complete remodel to what I consider the “They don’t make them like that anymore” 5 acre Kohala Ranch Heathers Estate surely exceeds one quarter of its asking price! These properties have “big value – no construction hassle” written all over them. Mahalo for your outlook, Beth!

Annie Mendoza

August 19, 2010

I totally agree that the properties you’ve mentioned could not be replaced for the current asking price. I mean…25 acres at Puakea Ranch INCLUDING the estate! Surely a best buy. The Kohala Waterfront home has a ton more money being invested in the way of improvements as we speak! And the value of the complete remodel to what I consider the “They don’t make them like that anymore” 5 acre Kohala Ranch Heathers Estate surely exceeds one quarter of its asking price! These properties have “big value – no construction hassle” written all over them. Mahalo for your outlook, Beth!

Jana

August 21, 2010

I totally agree with both of you, just move right into luxury.

Jana

August 21, 2010

I totally agree with both of you, just move right into luxury.

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