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Oceanfront Price Reductions in North Kohala (Hawi)

I took my dog whale watching along the oceanfront near Hawi this morning. Technically, it was his daily run, but this time of year most of our favorite places to walk offer fabulous opportunities to spot whales. From home I can see whether the windmills near Hawi’s Upolu Airport are turning lazily, briskly, or not at all…and in calmer winds, one of our favorites is the walk along Hoea flats next to the 88-acre oceanfront parcel for sale.

This 88-acre oceanfront parcel (MLS# 231242) adjacent to the runway below the windmills was just reduced to $1,588,000

Oceanfront Foreclosure Still Available at Screaming Deal Price

The whales seem to prefer to hang out a bit to the east of this airport property, where I’ve often seen them up close and personal from the oceanfront mansion that is back on the market as a bank-owned foreclosure. When last I blogged about this property, it had been reduced to $4 million…and now it is offered for only $3,150,000. That’s for over 13,000 sq. ft. and 20 acres!

Whale watching from your living room for $3,150,000 in this foreclosure (MLS# 244454)

If you like the location, but not this estate home, which has sensibility a bit more Waterford chandelier than tiki torch, the adjacent 20-acre lots also had their prices reduced last week to $1,050,000 (MLS# 231244). Technically not oceanfront because the county requires the oceanfront to be assigned to a single parcel in these small gated subdivisions, these front row lots are effectively oceanfront with only a narrow strip of conservation-zoned land in front of them.

Two 20-acre parcels to the right of the mansion in this photo were reduce to $1,050,000 each

125 Acres for Large Oceanfront Compound or Development Opportunity

Continuing east from Hawi to Kapaau town, another large oceanfront parcel of land also had its price reduced this month from $4,950,000 to $3,988,000 for 125 acres. One might ask what makes a parcel of 125 acres worth $4 million when the 88-acre parcel a few miles away is offered for less than half the price? Try half a mile of ocean frontage; subdivision potential (which also means a savvy buyer could subdivide solely for the purpose of legally building multiple dwellings for a family compound); and no risk of one’s calm and privacy being disturbed by operations at the adjacent airport or windfarm.

Oceanfront 125-acres is currently grazed by cattle; oceanfront compound or equestrian estate? (MLS# 244771) now $3,988,000

Eight other nearby Kohala parcels of vacant land, 7 to 50 acres with big ocean views, were also subject to price reductions recently, reflecting the market perception that prices have dropped 20%-25% in the last year. With the winter rain turning pastures green and the whales singing, it’s certainly a good time to show oceanfront property in North Kohala and along the Kohala Coast!

A hui hou!
Beth Thoma Robinson, R(B)

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