Here is the latest real estate inventory available at the Beach Villas at Ko Olina. All units were sold but some purchasers were not able to complete their transactions. So these units have come back on the market at their highly discounted price that were offered in May. This is either the last chance or close to it!
(See the blog post following this one for photos) Beach Tower 1001 and 1003 (sold)- (2 bedroom, 2 bath) are located on the Sunset side of the Beach Tower (facing the JW Marriott). Both villas are $1,099,900, which reflects a 44% and 49% reduction in price. Additional incentives include a furniture package, 1 year AOAO credit and a 2nd parking stall. Incentives valued at $86,130. (Note: As of July 24th, 1003 is sold)
Beach Tower 210,Beach Front- (2 bedroom, 2 bath) stunning beach front view, right on the sand! Furnished like a model, ready to go! Price in 2009 was $2,800,000. The property next to it, BT 209, closed at $2,320,000. Units above closed at $3,000,000. Now $1,799,900. Additional incentives include a furniture package, 1 year AOAO credit and a 2nd parking stall. Incentives valued at $86,130.
General Information:
Property Taxes:
Tax a) Resort Zoned - $12.40/$1,000 of the assessed value, allows for weekly rentals for current income (1.24%)
b) Residential Zoned –Primary and/or second home $3.42/$1,000 of the assessed value, need to apply to City & County of Honolulu to declare residential use (.342%)
Monthly Home Owners Association Estimates:
Approximately $1.00 per square foot/month, based on interior square footage Two bedroom villas approx $1,200/mo, Three bedroom villas approx $1,500/mo
Two villas are now available for purchase and one is available for your vacation rental at very attractive prices at the Beach Villas at Ko Olina, a luxury beachfront resort and residences. As you may recall, all of the villas at the Beach Villas at Ko Olina were sold at a final sales event in May at prices that were reduced around 50%.
Two villas have become available because the buyers were not able to complete their purchase, so their loss is your gain. I have attached photos, they are primo units looking up the coastline towards Makaha.
The photos are from our new vacation rental villa that is in the same location as the two villas for sale, just one floor up. The vacation rental accommodations may be reserved for your next vacation visit to Ko Olina, Hawaii. The villas for sale are one floor down and have the same views and interiors.
If you are shopping for a luxury beachfront real estate, look no further than the Beach Villas at Ko Olina. The Beach Villas at Ko Olina are a beachfront property fronting lagoon two within the beautiful Ko Olina Resort. The Ko Olina resort is located on the western shores of Oahu and once you pass through the resort gates, you'll feel like you have arrived on one of the outer Islands like Maui or Kauai.
The great thing about Ko Olina is the very relaxed pace of Maui or Kauai while still being convenient to all of the famous spots on Oahu such as the North Shore, the USS Arizona Memorial, Waikiki, China Town, Diamond Head, Hanauma Bay and all of our great beaches. You get the best of both worlds.
The photos below are from the unit one floor down which just sold. The units for sale are side by side, one floor down and have the same view and furnishings as depicted in these photos. Call or email me ASAP if you are interested as these units won't last long.
Lagoon and Ocean Views
Coastline view from the inside of the villa. You don't have to go outside on the lanai to see the ocean!
Breathtaking Views from the fully equipped kitchen with Sub Zero, Wolf & Fisher-Paykel Appliances.
Master Bedroom with View of the Ocean and the Ihilani Hotel on Lagoon One
Master Bathroom contains a deep soaking tub & double vanities. It also contains a separate walk-in shower and a private toilet with door.
Two twin beds that may also combined into a King Bed, so perfect for both children or couples.
The guest bathroom also contains a deep soaking tub.
The two bedroom, two bathroom villa floorplan (not all floorplans are the same, this one features ocean views from all rooms).
Please note that this is a brand new unit so we are in the process of adding it to our rental website. When inquiring about this villa, just request the Beach Tower Penthouse with the Coastline View in your text.
The State Department issued a travel advisory yesterday after three Americans were killed in the cross fire of drug violence. As spring breakers flock to Mexico, it is nice to know that in Hawaii, crime is at the lowest point ever recorded.
There is safety in vacationing and owning property in Hawaii, our 50th US State. We ourselves, looked at purchasing vacation property in Baja, Mexico and I am really glad that we purchased at the Beach Villas at Ko Olina instead. (Due to the smarts of my wife, more-so than myself I must add.)
According to the New York Times, at least 50 people were killed in Mexico this past weekend and drug violence included attacks in the major tourist city of Acapulco. Three U.S. Consulate employees in Juarez were also killed on Sunday. If American diplomats are not safe, how will tourists fair?
With the recent decline in housing prices and rental rates in the Hawaiian Islands, now is a good time to investigate vacationing and/or purchasing a piece of our tropical paradise in the good old United State of America. Purchase prices at our property, the Beach Villas are running around 40% less than the purchase cost from a couple of years ago and our vacation rental website is running specials like buy one week and get up to seven additional nights for free.
Vacation rental rates are low, purchase prices are low, crime is low, safety is high and value is high.
Pick your vacation experience as we offer rates for both a hotel experience including daily housekeeping with sheets and towels replaced every four days or a nicer than the typical condo experience that includes a mid stay cleaning with the exchange out of all of your linens, (who wants to wash sheets and towels in an apartment sized washer and dryer while on vacation) in addition to the standard departure cleaning.
Rates also include, assigned underground parking, high speed internet, resort fees, WiFi and local, mainland and Canadian calls, saving you another $50.00 - $100.00 per day over your typical hotel stay.
So come and experience some of our world famous "Aloha" spirit; swim, play some golf, learn to surf, eat our great food, and just come and relax on our white sandy beaches while gazing across the azure and turquoise colored waters. Since the Beach Villas at Ko Olina are right on the water, you won't have to travel to get to the beach, you're already here.
Alfred & Deanna Harding-- Homeowners, Proprietors and Real Estate Professional
As with any investment, you'll have to draw your own conclusions and make an educated decision as to if this investment is better than another investment for your situation. A lot has to do with your own motivations and why you wish to be here at the Beach Villas. I can lend you my ear but ultimately, only you will know if this is the right fit for you.
If you're considering a purchase, you should also run all of the legal documents through your attorney as there is a forest worth of documents between you and Centex, Centex and Ko Olina Development (KOD), Beach Villas and KOD, Beach Villas and Resort Management, etc. I am not an attorney. If you're coming for vacation, all of the legalize between the entities makes no difference.
I just received information that the next sales event for the Beach Villas at Ko Olina will be held in May of 2010.
The previous sales event in September resulted in the successful sale of 66 of the remaining 120 villas which leaves a balance of 54 villas that will be made available for purchase. So only around 20% of the units remain for the May sales event.
Reservations are taken in a priority order so quick action on your part will make a difference. If you have an interest, please contact me directly by email or phone ASAP through the links on the right side of the screen so that we can discuss.
There is still a limited opportunity to take advantage of greatly reduced prices and there is no obligation to purchase. There is also no penalty if you change your mind. See below for how the process works:
Sales Process
Reserving a unit requires making a priority reservation. Your place in line or "priority" on selection day is determined by the date and time stamp on your priority reservation. If you would like one of the nicer units and the largest number of choices, making a reservation now will increase your chances. Again, contact me via phone or email to get on the list.
The remaining 54 units will be made available for purchase on the sales event date in May. From past experience, the date is subject to change. However, the last sales event was conducted on the phone to alleviate co-ordinating hotel and airline reservations. However, feel free to call and make a reservation to come visit the property and have a VIP guided tour. If you have not yet visited or would like to take another look around, give me a call.
On the day of the sales event, based on your date and time stamp, the sales staff will call you when it becomes your turn.
The sales staff will go over the inventory list with you (minus the units that have been selected by purchasers who were ahead of you). If one of the available units meets your price/view requirements, you make a selection, otherwise you pass and they go on to the next person in line.
After you sign your contract, the State of Hawaii gives you an additional 30 day out where you can still change your mind if you decide this isn't the place for you. A cooling off period if you will.
After due consideration, if your feel this little slice of paradise might be just what your looking for and the Beach Villas fit in with your vacation/retirement/investment plans, feel free to give me a holler.
Mahalo
Alfred--
A big caviat, while I believe I have a great perspective of what's going on from being involved with the property in many different ways, I am not an attorney.
As with any investment, you'll have to draw your own conclusions and make an educated decision as to if this investment is better than another investment for your situation. A lot has to do with your own motivations and why you wish to be here at the Beach Villas. I can lend you my ear but ultimately, only you will know if this is the right fit for you.
You should also run all of the legal documents through your attorney as there is a forest worth of documents between you and Centex, Centex and Ko Olina Development (KOD), Beach Villas and KOD, Beach Villas and Resort Management, etc. As homeowners, we continue to dig up additional inter-related documents and are still trying to come to terms with how they fit together to figure out exactly what it is that we have agreed to and not agreed to between all of above listed entities.
On the positive side, we have a financially strong and savvy homeowner group and each member of the group is fairly successful at what they do in the real world when they are not hanging out at the property. The group has been working extremely hard to make sure that homeowner interests are protected as well as they can be under the circumstances.
The Beach Villas at Ko Olina on Oahu Hawaii held their clearance sale on their luxury condo's this past weekend on September 19th & 20th.
This was the real estate sales event where the condo prices were drastically reduced with the goal of selling all of the remaining 114 condos/villas (or about half of the project) over two days.
The sale was very successful with around 78 out of the 114 villas sold. You still have a second chance with around 26 villas remaining. If your interested,
click the Call Me or Email Me links to the right >
and we can discuss the opportunity. Some of the villas sold for as low as in the high $500's which is an amazing price when you figure the original starting prices at the project were around $1.8m. This is an almost four for the price of one deal.
It remains to be seen as to how they will dispose of the remaining villas. The standard method would be to sell the rest of them one at a time as they have in the recent past (at the discounted prices) until they are all gone. Who knows though, they might add additional incentives as time goes on so that they can unload the remaining units. Maybe they'll sell the rest of them in bulk to a single buyer. I don't have a crystal ball to know what will happen next. The one thing I have learned around here is that everything can and will change from moment to moment.
I am still working on pulling as many homeowners together into a central reservation website site so that we can control our rates and offer good values for guests with rates that don't force homeowners into foreclosure when they can't make their mortgage and HOA payments. Rates continue to decline and I predict they are going to get worse. At some point, it's not worth renting out because the cost of wear and tear of both our grounds and our villas will be higher than the nightly rental rate.
One central site will also allow us to compete with other properties in the global market instead of spending time competing with each other. There should be enough guests around the world if we can effectively reach them. Why spend all of our time fighting over one guest, we should go out and get ten more instead.
Give me a call or drop me an email if you agree. If you have purchased a villa and are interested in renting it out and would like some effective marketing, I may be able to help. If your still thinking about purchasing there may be some good opportunities for you. It's going to be a little rough going for the immediate future but five or ten years from now you'll probably be glad you "got in the game". At least, that's what I think. See you around the pool! Alfred--
As of Friday night, the sale is still a go for Saturday and Sunday. Prices are discounted anywhere from 34% - 47% off of the last discounted prices.
Centex and the Ko Olina Resort have also come to an agreement and the least expensive 35 villas are now going to be available for purchase on Saturday and Sunday. Previously, the Ko Olina Resort had the exclusive right to purchase these villas. So now villas in the $600k - $800k range will be available.
These units won't have as nice of a view but they will cash flow better if they are going to be a rental property. The more expensive units will offer potentially better appreciation and increased homeowner enjoyment for those shopping for a second home.
Rental rates have come down substantially so caution is advised.
Good Luck with the Sale! Come Monday, we'll see how everything went.
First time on the market, luxurious Ocean Front Condo at the Beach Villas at Ko Olina available for lease or vacation rental.
Are you looking for a place to live where each day feels like you are on a luxurious vacation? You can at the Beach Villas at Ko Olina. Imagine waking up to a beautiful Ocean Front view, then wandering down to the the fitness center for an early morning workout, followed by a visit to the steam room and sauna, and then some laps in the lap pool, all before you head off to work.
In the evening, go for a stroll on your sandy beach, take a dip in the ocean or lagoon pool, watch the sun set as you BBQ some fresh Ahi Tuna steaks, Rib Eye Steaks or Shrimp. Costco, Target and Safeway are all just one exit away and less than five minutes from your home.
Not interested in cooking? No problem, our on-site concierge staff (Debbie, Heaven & Summer) are here to make your life easier by making that perfect restaurant reservation or ordering tickets for a special event.
Need a massage after a hard day, no problem, perhaps a Hot Stone Massage will chase away any stress.
Short term rentals of one week and longer are available through September of 2010. After September of 2010, minimum length of stay is 30 days.
FYI for people purchasing property in Hawaii: Property tax rates in Hawaii are 400% higher for properties that provide short term rentals. So we're keeping our 3br as a short term rental and our 2br will become a long term rental.
We've already paid the taxes for short term rentals through September of 2010 for both properties so that's why you can reserve the 2br as a short term rental until then. However, to change the property type from a short term to long term rental, you must do it a year in advance. The deadline is once a year in September so you have to decide now to make the property a long term rental but it won't take effect until a year later, in October of 2010!
It's a crazy system but I think it maximizes revenue for the state. Taxes for this property are $16,000.00 a year as a resort rental and around $4,000.00 as a residence/long term rental, quite a difference.
Vacation rental rates and long term lease rates include two parking stalls, high speed internet, phone service with unlimited local and mainland phone calls, cable and water. Vacation rental rates also include electricity. (On a long term lease, the tenant pays the electric bill based on usage and the monthly association fees for the upkeep of the grounds. You don't need a gardener, lawn mower or pool maintenance person.)
Contact us for current short term and long term vacation rental and long term lease rates.
Are you thinking about purchasing a villa at the Beach Villas at Ko Olina at the Final Sales Event in September, 2009? Should you buy? Here is the latest scoop.
Last week in Federal Court (August 13th, 2009), the Master Developer of the Ko Olina Resort, Jeff Stone lost his motion to stop Centex, the developer of the Beach Villas at Ko Olina from recharcterizing the limited common areas of our property into common areas. This allows Centex to take the areas such as the pools, grounds parking lots, etc. and turn these areas over to the homeowners via our homeowners association. This is through the process of converting the limited common elements into common elements.
The judge ruled that Centex was within their right to proceed with the change, based on the wording of the contract signed by the Master Developer and Centex.
With this said, the rental program front desk and the beach bar will continue to be under a long term lease (20+ years) to the Master Developer. In addition, the fitness center and owners lounge are currently slated to be owned by the Master Developer and are not part of the current proceedings.
A big caviat, while I believe I have the best perspective of what's going on from being involved with the property in many different ways, I am not an attorney. The above referenced document and other documents that were signed between the Master Developer and the Developer of the Beach Villas along with the latest Condominimum Report filed with the State of Hawaii and the purchase agreement between you and Centex should be read, digested, interpreted and advised upon by a licensed attorney. Not just any attorney, but one you trust and who is very skilled in this type of work. I would be glad to speak with your attorney to help them make a better educated guess as to where all of this will end up and the risks and rewards offered.
As I continue to say, the developer wouldn't be offering an additional 35%-40% discount off of the already reduced prices if the situation was perfect and the economy wasn't in the dumps. As with any investment, you'll have to make an educated decision as to if this investment is better than another investment for your situation. A lot has to do with your own motivations and why you wish to be here at the Beach Villas. I can lend you my ear but ultimately, only you will know if this is the right fit for you.
If you wish to brain storm and get my perspective on "Should You Buy" based on my being a homeowner at the property, a licensed Hawaii Real Estate professional, a member of the homeowner group who brought all of these issues to see the light of day and who runs a successful rental operation at the property, give me a call or drop me an email.
North Shore Dining When your ready to venture away from the Beach Villas at Ko Olina head to the North Shore or Haleiwa, my home town. Here, stop at Kua Aina's for a Mahi Mahi burger, my wife loves their burgers. They also have hamburgers but we never order them. I get mine with Ortega Chilies on it. Delish! Kua Aina Burgers
For desert, stop at Matsumoto's for a Shaved Ice. I have great childhood memories of my mom rewarding me with a shave ice after my haircut across the street, the barber shop is now a dress shop. My favorite flavors are li hing mui, lychee & lilikoi (passionfruit). Matsumoto's Shave Ice
The best Mexican Restaurant on the Island is also in Haleiwa, they have good margaritas also. Good local vibe. After lunch, continue on around and stop at Waimea Bay, Sunset Beach, Pipeline, all at the Northern tip of the Island. Great waves, great surfing, check the water and see what everyone is doing before swimming. In the summer, Waimea is as flat as glass, in the winter up to 40 foot waves. Cholo's Mexican Restaurant
Further around in Kahuku are the famous shrimp trucks, on one of your treks out, you have to stop here for lunch. The shrimp are grown in ponds right outside the shanty's or trucks. Giovanni's is the original. There are many more since then. The Polynesian Cultural Center is also over here in Laie. Think Epcot of the Pacific Island Nations. Good visit and a good show to end your day. The shrimp trucks have also expanded into Haleiwa. Giovannis Shrimp Truck or Romy's Shrimp Shack
Ko Olina Restaurants and Kapolei Restaurants located near the Beach Villas at Ko Olina, West Oahu, Hawaii. Beach Villas at Ko Olina Homeowner and Vacationer nearby dining options.
So your on vacation at the Beach Villas, where to eat? Even though the Beach Villas at Ko Olina have beautiful kitchens with Sub Zero, Wolf & Fisher-Paykel appliances, not everyone wants to cook while on vacation!
Here is a list of our families favorite restaurants in the Ko Olina Resort and the Kapolei area. All of these restaurants are convenient and close to our property, the Beach Villas at Ko Olina. Our property, the Beach Villa Resort is located on Lagoon Two.
Lagoon Two (Beach Villas) - The Beach Bar is now open serving well drinks, sodas, water and coffee in the mornings. The Beach Bar is for the exclusive use of our guests so it's not crowded. Moon is always ready to talk story with you and play his Ukulele. Todd mixes a mean drink both with or without alcohol. The $3.00 smoothies are a hit with both children and adults. Sandwiches and salads are also available while relaxing at the pool or beach.
We also have BBQ grills on the property by the lagoon pool. (The front grills by the bar are for bar use only.) One exit down on the highway (a 5 minute drive) is the new Costco which opened on February 23rd. They sell USDA Prime Beef and fresh fish (The Ahi steaks are fantastic marinated in some huli huli sauce, garlic & ginger) which you can grill using your in villa Wolf oven or poolside with our outdoor Wolf BBQ grills. Grill out by the pool, swim, eat, watch the sunset, not a bad way to end the day. Check with the bar tender at the beach bar to have them unlock the grill and to provide you with a grill cleaner if needed. The grills are cleaned every day.
Lagoon One (One lagoon over from the Beach Villas) - The outdoor patio at the Ihilani has a pool side bar and they have live Hawaiian Music and torch lighting each evening. Our favorite restaurant at the resort is Azul's which is located here. There is also a casual dining restaurant and a Japanese restaurant here. These dining options are about a five minute stroll along the ocean via a palm lined pathway that connects all of the lagoons together. Lagoon Three (One lagoon over from the Beach Villas) - Kolohe's on Lagoon Three is good for lunch and drinks, also for sunset drinks, it overlooks lagoon three. Chuck's Steakhouse is also located here. They have good steaks and seafood.
Either lagoon is only a couple minute stroll along the beach in either direction from the Beach Villas at Ko Olina. Dining at the Golf Course within the Ko Olina Resort - Located between lagoon's one and two at the 18th hole. Roy's is great for Pupu's and listening to Moon Kahele who works at the Beach Villas at Ko Olina play his slack key guitar, every other Wednesday overlooking the 18th hole. Roy's is also a full service restaurant, their Chocolate Soufflé is famous. The restaurant is a short walk along the golf course, you can drive over or take the shuttle which comes by the Beach Villas at Ko Olina at 7 minutes and 37 minutes after the hour.
Dining and Food Options in Kapolei - One exit down from the Resort. A five minute drive. On the "Makai" side of the Freeway. Makai means towards the ocean. (The other direction you'll hear is "Mauka" or towards the mountain.)
Kapolei is called the "second city" after Honolulu as all of the new government offices, a new University of Hawaii campus, etc. are being constructed out this way. Here you will find the Safeway Grocery Store, the new Costco, the new Target and other stores.
Assaggio's Restaurant - 777 Kamokila Blvd, Kapolei, HI 96707 (808) 674-8801 My favorite restaurant in Kapolei is Assaggios Italian Restaurant. I'm a "local boy" and when I go home I usually eat all of the food I can't get on the mainland. With that being said, I like the food at Assaggio's so much that I could eat here every day. The food quality is top notch and the prices are more reasonable then say at Roy's or Azul's at the Ihilani. Menu
House of Fortune - 777 Kamokila Blvd, Kapolei, HI 96707 (808) 693-8998, the Chinese Restaurant next door to Assaggio's is also enjoyable. Hong Kong Style. Not as good though as a trip to China Town in Honolulu for some Dim Sum at lunch. Right next to and in the same building as Assaggio's. Menu
Chun Wah Kam - 885 Kamokila Blvd, Kapolei, HI 96707 (808) 693-8838, (on the same side of the street as the above restaurants, building to the left) is the new Chinese takeout place that also serves takeout Dim Sum. The local favorite is the Pork filled Manapua. In Chinese it's called a Char Siu Bao. Char Siu is the pork, Bao is the bun. A Chinese sandwich. My favorite is the Kalua Pig Manapua. They make a yummy food gift for family and the staff. Menu
Local Fast Food - Our fast food comes from "Zippy's" a good local place for plate lunches and local food. They have a location in Kapolei. They are three in one kind of place, a sit down, dine in restaurant; a fast food take out counter with outdoor seating; and a Napoleon's bakery which has really good pastries. This or Safeway both have good baked goods. I stop at both places for breakfast items.
There is also an Outback Steakhouse and a Chili's here in Kaploei along with a water park and movie theater. Outback prints a Hawaii version of their menu here as you can get Rice instead of a potato with your Steak! In Hawaii, you eat rice with pretty much everything.
Hope this gets you started with a great list of restaurant choices in West Oahu, have a great vacation!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Lagoon and Ocean Views
Coastline view from the inside of the villa. You don't have to go outside on the lanai to see the ocean!
Breathtaking Views from the fully equipped kitchen with Sub Zero, Wolf & Fisher-Paykel Appliances.
Master Bedroom with View of the Ocean and the Ihilani Hotel on Lagoon One
Master Bathroom contains a deep soaking tub & double vanities. It also contains a separate walk-in shower and a private toilet with door.
Two twin beds that may also combined into a King Bed, so perfect for both children or couples.
The guest bathroom also contains a deep soaking tub.
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