Puakea Bay Ranch Home Price Reduction

I rarely blog about my own listings, but the recent $250,000 price reduction on an estate home I have listed at Puakea Bay Ranch near Hawi, North Kohala…together with the sale of 25 acres of raw land across the street at Puakea Ranch, are two Hawi real estate market news items worth writing about.

Ocean view from pool side…home on 10 acres near Hawi (MLS# 253892) – a $250,000 reduction

Reasons to Buy at Puakea Bay Ranch – Hawi Gated Oceanfront Community

First: what’s to like about Puakea Bay Ranch?

• Gated community with ocean, sunset, and Maui views from every lot and home
• 10 acre parcels with equestrian easements running around the circumference and through the community
• One hour drive to the Kona airport and a 5 minute drive to downtown Hawi with its restaurants, galleries, and shops
• CC&Rs allow for a variety of architectural styles, with a minimum house size of 4,000 sq. ft. (3,500 if there is at least 1,000 sq. ft. of lanai). Separate guest quarters (“ohana” units) are allowed.
• Mix of full-time residents and snowbirds

Homes For Sale at Puakea Bay Ranch

Currently, there are four homes for sale at Puakea Bay Ranch, and none at all in the neighboring communities Ranch at Puakea and Puakea Ranch (all part of the original Puakea Ranch property). Excluding for the moment the oceanfront estate listed for $13,750,000, about which I’ve written plenty in the past (MLS# 232548), that means three very different homes to choose from.

Least expensive is this single-story residence built in 2003 offered for $1,599,000 (MLS# 251087)

The most recently built of the three listings is also the least expensive, listed at $1,599,000. This home has 3 bedrooms/3 baths, separate office and media rooms, and 4,386 sq. ft. of living area plus a pool and jacuzzi. At $364/sq. ft., it is about the cost of construction excluding the cost of the 10-acre lot! It is also a single-story home, which some buyers prefer.

5 bedrooms and over 6,700 sq. ft. of living space characterize this home listed at $2,299,000 (MLS# 249852)

The most expensive of the three non-oceanfront listings is the largest. It is also the closest to the water of these three listings – although all three are situated in such a way that no neighbor homes appear in their view plane. A large covered lanai by the pool allows for indoor-outdoor living…the lanai area of this home is 4,000 sq. ft. and the view is equally big!  

Hands down, if view is your priority, this residence has it. The architect designed a home that offers many possibilities for the buyer who can envision an expansive lifestyle…and could be a drawback for the buyer who doesn’t need “maids quarters” or a wine cellar, or a partially completed tack room/second home/barn/horse facility.

The price/sq. ft. is a little less on this home, but buyers might want to work with a contractor to get estimates of cost for renovations to make the house their own.

Now listed at $1,750,000, (MLS# 253892) has a 3 bedroom main house and 2 bedroom guest house

My listing is a 5,668 sq. ft., two-story home, but has a master bedroom on the ground floor (two bedroom suites upstairs) and a separate guest house with two ocean view bedrooms. Built in 1989, most buyers will want to invest in a facelift for the kitchen and flooring. But at $309/sq. ft., the home is priced to be competitive even including renovations.

One of my favorite features of this Puakea Bay Ranch property is that it is one of the few lots that is relatively square rather than a long, skinny rectangle. A buyer with equestrian interests might consider the adjacent square-shaped lot (not officially on the market, but I know they are willing to sell) for their horse facilities!

Vacant Lots at Puakea Bay Ranch and Ranch at Puakea

Across the street at the ungated Puakea Ranch subdivision, a 25-acre parcel that had been off and on the market for years slashed its asking price to $551,000 and with a flurry of activity sold for $567,500!

When I mentioned above that the Puakea area has year-round sunset views, I perhaps did not stress enough that most of the raw land for sale in the Hawi area has north-facing ocean views. So if you want to sit on your lanai and “watch the ball drop” into the Pacific, you’ll want to consider the vacant lots at Puakea Bay Ranch, all 10 acres, asking prices from $315,000 to $1,250,000…or the smaller gated community Ranch at Puakea, where 20-acre parcels range from $696,000 to $1,190,000 and an oceanfront parcel sold in May for a cool $3.2 million.

A hui hou,

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