Update on The Cottages on Ali’i Drive

The new year is off to a great start with The Cottages on Ali’i Drive. Industry leader and Developer Stanford Carr has begun construction on their 3 and 4 bedroom single-family homes. They are on track to have two models ready for showing in late spring of this year. This project is represented by Pacific Island Realty but I have decided to bang the drum a bit since I may also have the privilege to assist anyone interested in these beautiful homes as well. Have I mentioned I love new construction? Living in a newly constructed home is like slipping into a brand new car but with a whole lot more room.

First, let me clear up any possible confusion there might be on the name of this subdivision. You will see the listings online or in the MLS system as located in Ali’i Palms. That is the original name of the project and the name submitted to the county during the early stages of planning. Further into the project, the developer decided to change the project’s name to Cottages on Ali’i Drive. While the new name has plenty of charm, make no mistake about it, There will be no short-term vacation rentals allowed in this residential zoned community. That’s important to know up front if you’re looking for an investment that you can put into a STVR program. If your goal is to relocate to Hawaii as a full-time resident or purchase a second home or investment property for long-term rentals, you might want to consider the value being delivered here in this project.

Here’s a progress report as of early January. In my earlier post (published August 26, 2022), I was very excited about the thought of brand new inventory being developed in the heart of Kona. We need inventory! Now my enthusiasm is building, no pun intended as I see they have already reached the point of what the exterior will look like on two models.

Two New Plans Released

In the works are Plan 5 Plantation style 3 bed, 2.5 bath and Plan 6 Craftsman style 4 bed, 2.5 bath with main suite on ground level and guest rooms 2nd floor. Offered are well-thought-out floor plans and designs down to the smallest detail. A new addition to the features of these homes is a split A/C unit in each room. Homes start at $1,011,800.

The time frame from purchase by pre-qualified buyers to completion at this stage is approximately one year. With a $10,000.00 deposit, you can open escrow and begin the process. Thirty days in and a second deposit of 10% of the purchase price would be due followed by a third deposit of an additional 10% on day 60. Currently there are 13 home sites of the 58 total ready for purchase.

If you read my first blog on this development, you already know there is an HOA fee. I feel it’s worth mentioning again due to the low rate of $129. per month and includes taking care of the common area landscaping, passive park area, archaeological burial site, private roads, mail center and trash pick-up.

What About a Pool?

Some folks have been asking about the possibility of putting a pool in. Have you read my pool blog published December 2022? There are 4 lots available large enough to accommodate a pool however this would be an installation after closing and not handled by the developer.

Let me know your thoughts on this project. Contact me to talk story about this or other properties you might be interested in. My goal is to provide information and service to folks interested in real estate here on the Big Island.