Hawaii
$34-Million Oceanfront Lot Sale In Hawaii Is The Big Island’s Priciest Ever
A roughly 3.6-acre plot on the Massive Island of Hawaii has bought for a state-record $33.75 million.
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After a record-breaking yr, Hawaii’s luxurious actual property market has kicked off the second quarter with one more file—a $33.75-million deal for an oceanfront property on the Island of Hawaii. That’s probably the most ever paid for a residential pad within the state, in response to actual property sources acquainted with the deal.
Situated within the new luxurious residential neighborhood of Kaupulehu, the consolidated parcel recognized as Lot 1A was listed with top-producing agent Carrie Nicholson of Hawai’i Life. The property measures a little bit greater than 3.6 acres and immediately faces the oceanfront.
An extended driveway results in the flat pad at Lot 1A, which bought for a file $33.75 million.
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Whereas nonetheless a large plot in its personal proper, Lot 1A’s acreage is a mere fraction in comparison with the earlier record-holder for a Hawai’i Island vacant lot. The earlier file was set in 2006 when a 129.13-acre parcel in Kailua-Kona bought for $30 million. The huge piece of Kailua-Kona land went on to accommodate the second-highest residential house sale in the entire state, a $43 million property bought in July of final yr.
However measurement is not every thing in actual property, and the Kaupulehu parcel’s premier oceanfront location, resort-style perks and pedigree designs clarify its important price ticket.
The property at 72-111 Pahinahina Place hit the market in February for $35 million.
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Included with the lot are architectural constructing plans by famend architect Paul McClean. Renderings visualize a glossy, single-story fashionable property with 18,590 sq. ft of inside residing area and 29,235 sq. ft underneath roof.
The historic sale recorded throughout Section 1 of building for Kaupulehu. Plans for the upscale neighborhood embrace roughly 80 tons, lower than 20 of which shall be situated on the water.
In Hawaii, house gross sales of $10 million or extra proceed to skyrocket, in response to main brokerage … [+]
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Facilities for residents will embrace a non-public seaside with a eating lanai, bar space and swimming pool, entry to a number of entertaining areas and proximity to a myriad of resorts and golf golf equipment, such because the Kukio Golf and Seaside Membership, 4 Seasons Hualalai Resort and Kona Village.
Based on Hawai’i Life’s 2021 luxurious market report, final yr noticed quite a lot of comparable gross sales that made for a record-breaking yr, totaling greater than $460 million throughout Hawai’i Island.
Hawai’i Life is an unique member of Forbes World Properties, a shopper market and membership community of elite brokerages promoting the world’s most luxurious houses.