Price Increase for Rare Old-Growth Koa Forest on Hamakua Coast
Since I last blogged about it, there’s been a great deal of interest in my listing of a Koa cloud forest for sale along the Hamakua Coast. Featuring more than 3,137.17 +/- acres of old-growth virgin Koa timber, the property is truly a once-in-a-lifetime opportunity.
Ohana Sanctuary Hakalau Stream
Ohana Sanctuary is one of the few privately owned Koa forests in Hawaii and the third largest privately owned stand of virgin Koa on the planet! Covering nearly five square miles of Big Island land and encompassing more than 3,137.17 +/- acres on the slopes of Mauna Kea, Ohana Sanctuary features more than 50,000 trees, including Koa (Acacia Grey), Ohia, Mamane, Hapu’u, and more.
Previously listed for $22 million, soaring valuations of the rare and prized Koa hardwood have resulted in a $3.3M price increase to $25.3 million.
Why Did the Price Increase?
The $3.3 million price increase comes amidst a 20% increase in asset valuation of tropical hardwood, particularly koa. A recent timber inventory determined there is an estimated 16.5 million board feet of Koa wood alone on the property, with an initial harvest of 6.5 million board feet and a sustainable yield rate of 6 percent to 8 percent per annum. [16.5 mbd.ft. X .20 = $3.3M].
This upward adjustment allows fair market valuation while offering a price point that is still substantially below market for this commodity, particular forest product due to its rarity and demand.
It cannot be emphasized enough how rare it is for a property of this magnitude to be on the market.
Exceptional Koa Forest Property
A primordial paradise, cascading waterfalls dot the landscape, including Sanctuary Falls and Haiku Falls, both named by the current owner. The Koa forest incudes many other unnamed waterfalls, each beautiful and mesmerizing, that flow to the Pacific Ocean below. Click to view an aerial tour of the property.
With its stunning grains and deep rich colors, Koa is one of the most prized hardwoods in the world. In Hawaiian, Koa means brave, bold, and fearless. Found only in Hawaii, the acclaimed hardwood has been revered by royalty, cherished by musicians, and prized by master craftsman for centuries.
There is high demand for this revered wood and, for many years, demand has outweighed supply.
Hydroelectric power is being successfully utilized at nearby farms and with the number of waterfalls on this property; there may be ample opportunity to develop hydroelectric power to suit your needs.
Located along the Hamakua Coast at the end of Chin Chuck Road, Ohana Sanctuary is only 20 minutes from Hilo, the second largest city in Hawaii. In addition to its many dining and shopping opportunities, Hilo is a major transportation hub on island, home to the largest port in East Hawaii and an international airport.
A Once-in-a-Lifetime Opportunity
Now offered at $25.3 million (as is/where is), Ohana Sanctuary is an exceptional Koa forest property for the discerning investor.
For more information about this once-in-a-lifetime opportunity, please call me at (808) 937-7246, or email me.