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Price Reductions on North Kohala Vacant Land

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!

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Katie Minkus, R(BIC)

April 27, 2011

Aloha Beth – you know my favorite is Ranch at Puakea…mmmm… it’s like a little bit of heaven on the north Kohala Coast! Anyway, I digress… What I mean to contribute here is that for the first time in over 4 years I heard a client say last week that they want to buy land and build because they “can’t find anything they like already built.” Perhaps a small clue that the market for land is finally turning a corner??

Katie Minkus, R(BIC)

April 27, 2011

Aloha Beth – you know my favorite is Ranch at Puakea…mmmm… it’s like a little bit of heaven on the north Kohala Coast! Anyway, I digress… What I mean to contribute here is that for the first time in over 4 years I heard a client say last week that they want to buy land and build because they “can’t find anything they like already built.” Perhaps a small clue that the market for land is finally turning a corner??

Don sheeley, Aspen, co

April 27, 2011

Ranch at puakea is a first class development. There are not many places in the world like it. Having traveled all over the world, this is really unique and special. Well maintained and attention to detail. What a great price for 20+ acres for a lot right next to the ocean, spectacular views and great sunsets. For under 800k,this is a bargain you will never see again. Thanks for pointing this out.

Don sheeley, Aspen, co

April 27, 2011

Ranch at puakea is a first class development. There are not many places in the world like it. Having traveled all over the world, this is really unique and special. Well maintained and attention to detail. What a great price for 20+ acres for a lot right next to the ocean, spectacular views and great sunsets. For under 800k,this is a bargain you will never see again. Thanks for pointing this out.

Beth Thoma Robinson R(B)

April 27, 2011

@ Katie – that’s exactly why we thought a land caravan might be timely, although there are some pretty cool residential listings in Kohala right now.

@ Don – It is definitely a buyer’s market!

Beth Thoma Robinson R(B)

April 27, 2011

@ Katie – that’s exactly why we thought a land caravan might be timely, although there are some pretty cool residential listings in Kohala right now.

@ Don – It is definitely a buyer’s market!

Don sheeley, Aspen, co

April 27, 2011

Thanks, Beth. You have been most kind

Don sheeley, Aspen, co

April 27, 2011

Thanks, Beth. You have been most kind

Katie Minkus, R(BIC)

April 27, 2011

@Don – I couldn’t agree with you more! I fell in love with lot #10 years ago because it reminded me of the hills surrounding CA’s Silicon Valley, but warmer and on the ocean. Then I realized the developers did all the infrastructure “right” – in fact, more than right, a rarity in Hawaii. From the double water system to the most beautiful wood fencing I’ve seen in Hawaii, and everything in between, it’s first class all the way. In fact, when I drive home from yoga two nights a week, the solar powered lights on the gate are always glowing softly – it’s gorgeous and incredibly gracious and pono. Truly a special place.

Katie Minkus, R(BIC)

April 27, 2011

@Don – I couldn’t agree with you more! I fell in love with lot #10 years ago because it reminded me of the hills surrounding CA’s Silicon Valley, but warmer and on the ocean. Then I realized the developers did all the infrastructure “right” – in fact, more than right, a rarity in Hawaii. From the double water system to the most beautiful wood fencing I’ve seen in Hawaii, and everything in between, it’s first class all the way. In fact, when I drive home from yoga two nights a week, the solar powered lights on the gate are always glowing softly – it’s gorgeous and incredibly gracious and pono. Truly a special place.

Don sheeley, Aspen, co

April 27, 2011

Kate, thanks for the report. It is a special place. Just needs more exposure. I love when things are done in a classy way. It only costs a bit more to go 1st class and this is truly a remarkable project. The best

Don sheeley, Aspen, co

April 27, 2011

Kate, thanks for the report. It is a special place. Just needs more exposure. I love when things are done in a classy way. It only costs a bit more to go 1st class and this is truly a remarkable project. The best

Catherine Klug

April 27, 2011

Beth, can you give me some similarities and differences between Puakea Bay Ranch and Ranch at Puakea?

Catherine Klug

April 27, 2011

Beth, can you give me some similarities and differences between Puakea Bay Ranch and Ranch at Puakea?

Erik Hinshaw

April 28, 2011

I am looking forward to seeing the variety available. I love how in North Kohala you go from dry to lush and green so quickly and need to get my head around which area is which.

Erik Hinshaw

April 28, 2011

I am looking forward to seeing the variety available. I love how in North Kohala you go from dry to lush and green so quickly and need to get my head around which area is which.

Beth Thoma Robinson R(B)

April 28, 2011

@ Catherine – for projects adjacent to one another, they are actually quite different. Worthy of a blog post in and of itself. Puakea Bay Ranch is a larger community of 10 acre lots with many more homes already built and a mix of full-time and part-time residents. Ranch at Puakea is smaller scale community with lots of 20+ acres in size and more costly infrastructure in place.

@ Erik – I think participants in this caravan will have their heads crammed with information, at least the basics so they can respond well to prospective buyer questions.

Beth Thoma Robinson R(B)

April 28, 2011

@ Catherine – for projects adjacent to one another, they are actually quite different. Worthy of a blog post in and of itself. Puakea Bay Ranch is a larger community of 10 acre lots with many more homes already built and a mix of full-time and part-time residents. Ranch at Puakea is smaller scale community with lots of 20+ acres in size and more costly infrastructure in place.

@ Erik – I think participants in this caravan will have their heads crammed with information, at least the basics so they can respond well to prospective buyer questions.

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