On todayʻs broker caravan, I had the opportunity to see a Puako oceanfront home listing that was finally available between vacation rentals. The new listing at Wailea Beach (Old Puako Road) was not on the caravan but since one rarely comes on the market in that nearby oceanfront community, I wish it had been!
Puako 122 – Oceanfront home for sale with strong vacation rental track record (MLS 616101)
Real Estate Sales in Puako for First Half 2018 Exceed Strong 2017
Eight residential sales recorded in Puako in the first six months of 2018, with a ninth sale closing in July.
When I reported on first half 2017 Puako sales, I noted that those five sales were typical of an entire year, and indeed those turned out to be the only sales for 2017. Four of the five sales were on the ocean side of the street; only one was on the more affordable “mauka” side of Puakoʻs single street.
In contrast, of this yearʻs nine sales, only two are oceanfront, and the other seven are mauka side of the street. The two oceanfront sales closed for $3.6 million and $4.1 million. The average for the homes across the street is around $1 million.
There is currently one oceanfront home in escrow, the 450 sq.ft. cottage property featured in my 2017 article. Currently offered for $2,695,000, it will be interesting to note whether the new owners keep the cottage and its fantastic rental history, or tear it down and build from scratch.
Video of Puako oceanfront home for sale from this morningʻs broker tour (MLS 616101)
Currently for Sale in Puako
Why consider Puako? It might be right for you if you like the climate of the Kohala Coast resorts, but are not a “resort or gated community person.” Puako has a sense of community without the quotation marks, and that is true whether you are a part time or full time resident, as many of the second home owners have their full time home elsewhere on the Big Island. If you want to educate yourselves on the attractions of Puako, there are a bunch of articles on our website.
Listed for only $900,000, this Puako mauka side home backs up to peaceful forest views (MLS 612475)
There are nine active residential listings, five of which are on the more affordable mauka side of the street, and four on the ocean side. Across the street from the ocean, you can purchase homes, most with established vacation or long-term rentals in place, from $900,000 to $1,650,000.
The oceanfront Puako properties for sale are listed from $3,950,000 to $8,950,000.
Wailea Beach, often called “Beach 69” is a favorite spot just north along Old Puako Road
And…donʻt forget, as I mentioned in the start of this post, there is a listing in Wailea Beach Lots on the “Beach 69” side of Puako that just came on the market for $1,750,000 (MLS 620024). So in my mind, there are really 10 active Puako listings. Give me a call and we will go see this one together!