North Hawaii (Big Island) real estate agents have a rare opportunity this Friday to participate in a caravan focused on vacant land parcels in North Kohala…all of which are large, ocean view, or oceanfront acreages. Many are new releases to the market. I find it a fascinating comment on the direction of the North Kohala real estate market to see investors who land-banked large holdings years ago become optimistic about launching new developments!
Although, I’ll write about the new listings after the caravan, two lots that will be on caravan have just had price reductions in the past few days. Since the caravan will allow the listing agents to showcase them as value opportunities, I thought I’d give readers of the Hawaii Life blog an early “heads up.”
This 17.48 acre North Kohala oceanfront parcel (MLS# 227114) is now listed at $1,445,000 following a price reduction
The upcoming caravan includes four oceanfront parcels. These are:
- a 24.1-acre parcel (MLS# 206562) in the gated Ranch at Puakea subdivision for $3,690,000.
- 49 acres of vacant oceanfront land (MLS# 240600) near Keokea Park on the way to Pololu Valley for $4.4 million (or buy together with the neighboring parcel and its architecturally distinctive home (MLS# 229636) for $9,650,000).
- a 124-acre parcel not yet released in the MLS…but which I’ve previewed and can honestly say is spectacular!
- The value opportunity: a 17.48 oceanfront acreage (MLS# 227114) located between the towns of Hawi and Kapa’au, that just had another price reduction to $1,445,000. For the buyer interested in green living, it is an ideal location for solar and wind energy. The seller has plans ready for a barn that would be an easy first step towards developing an equestrian estate.
Lot 10A at Ranch at Puakea (MLS# 239758)—where horses are currently enjoying the ocean and Maui views
The other price reduction that says VALUE OPPORTUNITY to me is Lot 10A at the Ranch at Puakea (MLS# 239758). Now reduced to only $797,000, the price is similar to what 20-acre parcels outside of gated communities have sold for in Kohala during the past year, but this lot is 20 acres in a small gated community with deeded ocean access for the non-oceanfront owners, underground utilities, and gentle design guidelines to preserve the historic character of the property.
Of all the properties featured on caravan, only Ranch at Puakea is west-facing for the buyer who just has to see the “ball drop” at sunset and who prefers a drier climate, similar to Kohala Ranch and the resorts.
There are 27 vacant land properties on the Kohala caravan, and that’s only a representative sample. Whether your vision of Hawai’i is a lush hidden acreage with seasonal waterfalls, or a sunset-facing oceanfront estate parcel, if you are looking for raw land, I encourage you to take a look at historic North Kohala!