Why is Centex Holding a "Fire Sale" on the Remaining Villas at the Beach Villas at Ko Olina, Oahu, Hawaii? - 02/19/09 09:56 AM
Well the obvious answer is that the economy is down, no one is spending money and that unfortunately for Centex their build/sell cycle was about one - two years too late. A fellow homeowner friend who works in the financial markets came up with a techincal answer which was really interesting so I thought I would share: 24 jan:  Centex 3rd quarter orders down 80%. Probably caused a breach of their covenant on their credit facility stipulating a minimum tangible net worth.  Net worth fell to 2,037m down from 4,259.87 a year earlier.  29th Jan:  reduces credit facility from $1.35b to … (1 comments)

Are the Homeowners Association Dues (HOA) at the Beach Villas at Ko Olina high? - 02/18/09 01:44 PM
At first glance, the answer would be yes. To me, the HOA dues are high, I have a hard time accepting them, (this is my first time of purchasing at a resort).
So I decided to do a little research:
Believe it or not, compared to other places, they're not so bad. The HOA fees at Wailea Beach Villa's are around $3,500.00 per month, more than double the fees here. (Their villas are larger).
Look at the Ritz Carlton Kapalua,
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Ritz Carlton Kapalua
          * 1 Bd-Average cost/yr (COA, taxes, insurance, FF&E=$4,119/mo): $49,428          * 2 Bd-Average cost/yr (COA, taxes, insurance, … (0 comments)

Hotels are Businesses Too - 02/17/09 08:58 PM
The backlash from companies holding expensive junkets and conventions while receiving federal bail out money is taking it's toll on hotel revenue as groups cancel their conventions in droves.Wall Street Journal ArticleThe interesting point made here is that "Hotels are Businesses Too". All of these cancellations are going to take their toll on the employees who will be laid off as hoteliers try to decrease their overhead as their revenue numbers decline.The silver lining for us homeowners at the Beach Villas at Ko Olina (who rent out our villas) is that we were never setup for conventions and groups so we … (1 comments)

How many Villas at the Beach Villas at Ko Olina are available for rent? - 02/17/09 08:55 PM
With my very informal analysis (feel free to correct me if you know the actual #) I believe that there are around 40 villas for rent out of the 125 or so that have already been purchased. Talking with homeowners, I think this number is going to increase as people who previously would not have worried about their monthly expenses are now considering rentals to offset their expenses. Think people in the financial sector for example.(Of course the down side to renting out your place is that you are going to have wear and tear. We repaint and patch up the … (0 comments)

The New Target is now open in Kapolei! The lines and parking are crazy. - 02/12/09 10:44 PM
Target Kapolei Telephone #: (808) 457-3679
The new Target at the Kapolei Commons Shopping Center has opened. They started hiring employees about a month ago. They plan on hiring up to 1,200 people for this location and the Salt Lake location. People camped out overnight to be in line for the jobs.
The new Target is located one exit down from the Ko Olina exit where the Ko Olina Beach Resort is located. About a five minute drive. It is going to be so convenient, great for all of the new Beach Villas Resort home purchasers if they are lucky … (2 comments)

The New Kapolei Costco is Open! - 02/12/09 08:11 PM
Costco Kapolei Telephone #: (808) 674-3900
The Costco in Kapolei has opened! It is built on 17.75 acres and the warehouse is 159,019 sf. A gas station is also here. At full build out they will employ 200 - 300 associates. 50 employees have transfered over from the Waipio location to get things going.
The great thing is that the new Costco is only one exit down from Ko Olina. About a five minute drive, it is right across the street from The Home Depot.
If you don't have a Costco Warehouse membership, it is worth the money. I think … (0 comments)

I want to rent out my place to offset expenses, What Can and Can't I Do? - 02/12/09 05:43 PM
Thursday, February 12th, 2009
What you can do:
You can live here full time or use your place as a second home and leave it empty when you are not here. If you wish to rent out your place, you have the option of renting the place out yourself, hiring a management company (as approved by the board) or hiring the on-site management company to manage the place for you. I can talk with you individually about your options and the pros and cons of each choice.
What you can't do:
Resort Management has the exclusive right to provide "First Class" … (0 comments)

When I Purchase a Villa, what do I actually own at the Beach Villas at Ko Olina? - 02/12/09 10:56 AM
Thursday, February 12th, 2009
Good Question!
What you own:
Of course, homeowners who purchase their villa's own their property. This is defined as the airspace inside of your Villa. This is typical of Condo projects.
What you don't own:
Unlike other condo projects, we don't own the public areas such as the pools, fitness center, beach bar, etc. This is owned by the developer, Centex. Jeff Stone, owner of the Ko Olina Resort has first right of refusal to purchase these common areas. I have not figured out all of the repercussions and angles of this provision. If there are any … (0 comments)

Break Even Analysis and Mortgages at the Beach Villas at Ko Olina - 02/11/09 11:25 AM
Wednesday, February 11th, 2009
Your Expenses
I had another thought this morning; new buyers are going to pay 25% - 35% less than I paid for my villas. So a villa that would have cost $1,500,000.00 with a 20% down payment would have a $1,300,000.00 mortgage with a payment of $7,794.16 per month at 6%. Now that same villa could cost $975,000.00; with a 20% down payment, the mortgage on $780,000.00 will have a payment of $4,676.49 per month at 6%. That $3,100.00 difference covers HOA fees, taxes, insurance, utilities, etc. with money still left over.On my villas, I put a … (4 comments)

Property Taxes at the Beach Villas at Ko Olina - 02/10/09 10:38 AM
Tuesday, February 10th, 2009
Rental Property Rate - If you plan on renting out your place to cover expenses, the Beach Villa's are zoned RESORT/HOTEL so a million dollar property will be taxed at $14,000.00 per year. ($1.40 per $1,000.00)
Owner Occupied Rate - If you don't plan on renting out your place to cover expenses, I believe the property tax is more like $2,000.00 - $3,000.00 per year. (I'm not sure on the owner occupied rate as I'm getting dinged the Rental Property rate on both of my properties.)
Break Even - At current rental rates, it takes about 30 … (2 comments)

Will Rental Income cover my HOA monthly fees and other expenses at the Beach Villas at Ko Olina? - 02/10/09 10:19 AM
Tuesday, February 10th, 2009
Question: Will Rentals Cover HOA (Home Owners Association) dues and other expenses?
I currently receive enough rental income in both of my units to cover HOA. (A two bedroom villa and a three bedroom villa.) I have listed the monthly HOA dues below. It currently takes about three nights of rent per month to cover the HOA.
An additional three nights rent per month for property taxes.
The cable bill is $80.00 which covers phone, cable & internet. The electric bill runs around $350.00 in the two bedroom when the unit is occupied. It runs around $480.00 … (0 comments)

With the soft economy, is now the right time to purchase real estate at the Beach Villas at Ko Olina? - 02/10/09 09:37 AM
Tuesday, February 10th, 2009
A client asked me this question yesterday, I thought I would post my response in case it might help others.
In my first post I mentioned that the Centex will be lowering their prices 25% - 35% or more from their last published price at the final sales even on June 6th - 7th. Their goal is to sell 100% of the remaining villas, (about half, or 125 villas) and are planning to lower their prices enough to achieve this goal. We'll see.
Hi J,Here are my thoughts: (Sorry for the long email again, it's just what … (0 comments)

Beach Front Villa and Ocean Front Villa, Views at the Beach Villas at Ko Olina - 02/10/09 01:09 AM
Monday, February 9th, 2009
Your view from the Beach Front, Beach Tower Villa and Ocean Front, Ocean Tower Villa. The Beach Tower is closest to the water with the Ocean Tower right behind the Beach Tower. When standing on the beach, the right side of the Ocean Tower has unobstructed views to the water. The left side of the Ocean Tower is behind the Beach Tower and has partially obstructed views.
Beach Tower, Beach Front Villa:

Ocean Tower, Ocean Front Villa:

First Class Amenities:

Webcam
Click to view Webcam
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Please allow me to represent you as your … (0 comments)

Beach Villas at Ko Olina, Final Sales Event - 02/10/09 12:52 AM
 
News Flash - February 1st, 2009
The property developer of the Beach Villas at Ko Olina has announced that they will liquidate, sell at deep discount, clearance out, fire sale, what ever you wish to call it, all remaining villas at the Ko Olina Beach Resort at a final sales event on June 6th & 7th.
Rather than sell a few units each month, Centex Corporate has decided that their Centex Destination Properties division is to sell off all remaining units at low enough prices to move 100% of their remaining villas.
The discounts will be significant, the minimum original … (0 comments)

 
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Alfred Harding

Kapolei, HI

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Beach Villa Resort

Address: 92-104 Waialii Place, Kapolei, HI, 96707

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