After a record-breaking 12 months, Hawaii’s luxurious actual property market has kicked off the second quarter with one more report—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 accordance with actual property sources conversant in the deal.
Located 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 slightly greater than 3.6 acres and immediately faces the oceanfront.
While 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 report was set in 2006 when a 129.13-acre parcel in Kailua-Kona offered for $30 million. The huge piece of Kailua-Kona land went on to accommodate the second-highest residential residence sale in the entire state, a $43 million property offered in July of final 12 months.
But measurement is not all the pieces in actual property, and the Kaupulehu parcel’s premier oceanfront location, resort-style perks and pedigree designs clarify its important price ticket.
Included with the lot are architectural constructing plans by famend architect Paul McClean. Renderings visualize a modern, single-story trendy property with 18,590 sq. ft of inside dwelling house and 29,235 sq. ft below roof.
The historic sale recorded throughout Phase 1 of development for Kaupulehu. Plans for the upscale neighborhood embody roughly 80 heaps, lower than 20 of which shall be situated on the water.
Amenities for residents will embody a non-public seashore 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 Beach Club, Four Seasons Hualalai Resort and Kona Village.
According to Hawai’i Life’s 2021 luxurious market report, final 12 months noticed quite a lot of comparable gross sales that made for a record-breaking 12 months, totaling greater than $460 million throughout Hawai’i Island.
Hawai’i Life is an unique member of Forbes Global Properties, a client market and membership community of elite brokerages promoting the world’s most luxurious houses.