Hawaii License RB-18892
Hilo, HI 96720
Listing RemarksTWO HOMES OCEANFRONT PRIVATE 16 ACRE PROPERTY MAKAI of HONOKAA.
1) Makai home of more than 2,100 feet is a few hundred feet from the cliff edge. VERY QUIET. VERY PRIVATE. No neighbors - can't see another house. The only sound - the breeze whispering in the Ironwoods, and the surf on the rocks. Near the Cliff Edge and the Vast Pacific is a large level lawn for any type of gathering from weddings to drum circles. The light and airy, practical and comfortable 4-bedroom, 2-bath home, has an all Koa kitchen, koa interior trim, and a fireplace in the living room. From the generous plantation-style lanai look out over the lawn to the never-ending oceanview. The tip-top shape inside and out. A true sanctuary.
2) The Grand Mauka Resort-style 6,500sqft Estate House: Big Koa Kitchen. Grand High Ceilings. Big Bedrooms Wide Hallways. Big interior courtyard with a large 40 x 30 pool. Huge Ohia posts. Locally milled wood throughout. Ocean, coastline, and Maui views.
5 bedrooms. 4.5 baths. 3 fireplaces, guest wing/in-law unit, outdoor kitchen, and more...
Owner's description - attached.
Mauka Estate House has deferred maintenance and needs some TLC. It is a Beautiful Elegant Home, a Diamond in the rough - well worth polishing! This is an opportunity to create substantial equity (in its prime (and a softer market) was listed for $12M, in good condition was recently (2019) assessed at over $7.4M).
Rough Estimate Replacement Cost –
Raw Land = $1.6M, (low)
Estate House - 6,500 sqft @ $500 per sqft = $3.25M + lanais, courtyard ,and large pool,= $500K,
Makai house 2,100 sqft @ $300 per sqft =$650K
$1.6M + $3.25M + $500K + $650K =
Replacement Cost = $6,000,000. Minus costs to renovate = equity.
The high cost of materials and labor, plus the lengthy time required to permit and build a home, underlines the value of this property.
Once-in-a-lifetime comes an opportunity like this! Make it your own.