Japanese billionaire Genshiro Kawamoto, aged 79, is making headlines yet again, and causing quite a stir on Oahu, particularly in the prestigious luxury home neighborhood of Kahala on Oahu. Kawamoto is known to be a little eccentric, bizarre even, and is not favored by many Kahala residents. Kawamoto has been the subject of a lot of negative media coverage over the years with communities and neighborhood boards registering complaints and even individual lawsuits against the real estate tycoon.

Kawamoto first hit the Hawaii real estate scene in the late 80's during what is known as the "Japanese bubble." At this time, the US dollar was down and many foreign investors, especially the Japanese, were buying up high-end luxury Oahu real estate in a frenzy. Kawamoto aquired many properties in the period 2002-2006, and now owns more than 20 luxury homes on Kahala Avenue, most purchased for between $2 and $10 million. Kawamoto went on to purchase, in September 2010, an impressive acre and a half beachfront estate at 4653 Kahala Avenue with a price tag of $22 Million. He had already brought the property next door and also another just down the road. In 2010, he also put several of his Kahala homes for sale on the market. Currently, only one of his Kahala luxury homes is listed, 4767 Kahala Avenue, for $3,200,000. Kawamoto is said to own approximately 200 single family homes and condominiums in Hawaii.

You may recall, Kawamoto was frequently in the news in 2007 when Kawamoto announced that he would provide low income Hawaiian families with the opportunity to live in five of the luxury Kahala homes that he owns on Kahala Avenue. Ultimately, he moved three local families into these Kahala Avenue homes, for very low ($150/mo) or no rent, with a 10 year lease. He tore down fences on these homes to enhance the sense of community and filled in swimming pools to make the homes safer for children. All this was supposedly part of his plan called the "Kahala Avenue Mission." Kawamoto has said that he wanted to bring more people to Kahala Avenue and that he wanted more native Hawaiian families to visit the area, to make Kahala "more fun." The rest of his homes appear to have remained vacant and many have fallen into disrepair and were graffitti-ed, which has angered his neighbors in this multi-million dollar luxury neighborhood of Kahala.

Now, apparently, the next phase of Kawamoto's "Kahala Avenue Mission" is to turn clusters of his properties into a statue garden, Japanese tea house and a museum to hold a European Art collection.  Again, his plans are causing great upset with the Kahala neighborhood board who oppose his plan and are again accusing Kawamoto of disrupting the community. In August 2010, Kawamoto was interviewed by Hawaii media and stated he would be making improvements to many of his properties and asked for the community to "wait a little longer, there will be more improvements." I wonder what else is in store??

Kahala Beach. Picture Courtesy of HiCentral MLS.

One of Kawamoto's luxury homes in Kahala. Picture Courtesy of HiCentral MLS.

Many of the Lanikai homes for sale now were featured in Thursday's Lanikai brokers open. There was really a lot to see and I am glad were were able to go out! The one Lanikai hillside property which really stood out for me was 1455 Kehaulani Drive. listed by Century 21 Kailua Beach. It has only been on the market a few days, but is sure to get a lot of attention, particularly for its beautiful gardens.

Walking onto this Lanikai property, you almost feel transported from the sandy beachside community of Lanikai to somewhere in the Manoa Valley, due to the lush tropical gardens and tall bnayan tree. This property is peaceful and private on a large corner double lot, spanning two (Tax Map Keys) TMKs.

The spacious level back yard features a central large banyan tree, strewn with hanging tea lights and lanterns, that create the perfect ambiance lighting for outdoor entertaining on the patio. The inviting natural pool and stream will also provide endless enjoyment during hot days.
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ALL PHOTOS COURTESY OF HICENTRAL MLS. LISTED BY C21 KAILUA BEACH. 

The residence was remodeled in 2000. Seamless windows really open up the home and create a great indoor/outdoor flow while capturing  the cool ocean breeze. This home also has both bamboo and slate flooring are features, along with plenty of closet and storage space. 

 The master bedroom is light and open with a beautiful spacious bathroom and cool cross ventilation.

The top story of this home was quite a nice surprise, one large room with ocean and Mokulua island views and it's own stone fireplace,bathroom and walk-in closet/storage space. Transform into a master or a great family room.

This Four bedroom,three bath home. Has a one car garage with carport and plenty of additional parking and is just minutes from beautiful Laniaki beach. A wonderful family home, and must see.

If you are unrepresented and  interested in viewing this property, please Yvonne Ahearn, Principal Broker, Home Shoppe Hawaii at 808-721-8088.

Currently, there are three Lanikai homes for sale on the beach in Kailua. There are other oceanfront homes in Lanikai, however, not all of these have actual beach frontage. The first Lanikai beachfront property is a newer home. Has three bedrooms, 4 full bathrooms and 1 half bath. This elegant beachfront home in Lanikai has a living area of 2,430 sq ft and 18,211  sq ft land area. This is an amazing home designed with vintage touches, including retro stained concrete floors and beautiful custom built-in cabinetry and incredible views of the Mokulua Islands. It also has a swimming pool.

Photo courtesy of HICentral MLS. Listing courtesy of CB Pacific Properties.

 This second property is a beautiful 7 bedroom, 6/0 bath home, with a living area of 4,435 sq ft and 16,996 sq ft land area. This Lanikai home is also beachfront with views of the Mokulua islands. This home is two-story, with historic board and batten styling and features beautiful ohia flooring.

Photo courtesy of HICentral MLS. Listing courtesy of CB Pacific Properties.

The third home is an older home, with 3 bedrooms,4 full baths/1half bath. Living area of 2,674sq ft and land area of 8,859sq ft.  Although a smaller property, it has been lovingly restored, is beautifully charming and has gorgeous views and sandy beachfront location.

Photo courtesy of HICentral MLS. Listing courtesy of John Dilks,Inc.

If you are interested in viewing any of these beachfront Lanikai homes, please call me at 808-721-8088.

New on the market and already in escrow... 1442 Aunauna Street. This home has the ocean views in Kailua, Hawaii that many have been waiting for. Not only are there ocean views over Kailua Bay, but also Enchanted Lake and Koolau Mountain range views from almost evey room. This Kailua View Home is listed at only $1,249,000, and this Kailua home for sale will also offer its owners a beautifully landscaped terraced yard recently featued in Hawaii Home and Remodeling Magazine.

Let's take a closer look!

The panoramic view spans the Koolaus, Enchanted Lake and the Ocean at Kailua Bay

These photos really do not do the property justice. The ocean views are more dramatic in person.

Everything about this home is immaculate, including the garden.

The home has four bedrooms and three bathrooms, including a master suite loft with a craft/office area and a suite below with a seprate entrance. There is also a basement "gym" area, a potting shed and a separate garage. Features include, koa and teak doors, Kitchenaid and Gaggenau appliances, teak parquet floors and an open floor plan. Listed by Homequest Realtors.

Call me if you are interested in seeing more Oahu view homes like this one .... 808-721-8088

This gorgeous Kailua Hawaii Beach House was sold to the current owners in 2005 for $10,400,000 and the previous owners purchased it for $11,500,000 in 2004, when it was a brand new home.  Theis Kailua Hawaii Beach residence has now been on the market since March of 2010, listed at $9,800,000.

I recently received an email from the listing broker (Gold Coast Realty) of this Kailua Beach House for sale. The owners are motivated! They want to sell and would likely be willing to take significantly less than the asking price of $9,800,000. Now is the time for savvy luxury home buyers to purchase that trophy home on Kailua Beach.

Here is a sampling of what you could enjoy as the owner of this fine Kailua Hawaii Beachfront Home -Photos Courtesty of HiCentral MLS and Gold Coast Realty:

 
Kailua Hawaii Beach Home with Pool, Jacuzzi and Waterfall. Kailua Hawaii Beach House with Spiral Staircase.

This exclusive Hawaii beach home is situated on a gorgeous white sandy beach in Kailua Oahu, only 12 short miles from bustling Honolulu. Kailua, Oahu is a suburban community of Honolulu known for its pristine beaches, friendly and relaxed way of living, low crime and friendly people. This Kailua, Oahu beachfront residence offers spectacular views, unsurpassed craftsmanship, and extensive use of natural materials. This is quite possibly the finest beachfront home on Oahu right now, and in one of the best locations on Kailua Beach. This pristine estate features an open floor plan with dramatic spiral staircase and a resort-like lava rock pool and jaccuzzi with a waterfall in a protected and private courtyard. Mahogany glass doors that pocket on both sides create a true indoor-outdoor living style and reveal both the beach and the lush courtyard and pool area.  There is a caretaker cottage, as well. The amenities go on ... so this home must be seen to fully appreciate its understated luxury and the truly comfortable grandeur you experience in this home.

Ocean view Kailua Beach House in Hawaii with Spacious Living Area.

This home has 6 bedrooms and 8 bathrooms in total. It is fully landscaped, sprinklered and fabulously laid out. Roofed living area is stated as 6,802 sq ft. Roofed other area, inlcuding lanias, is stated as 1719 sq ft and Open lanai area is stated as 1723 sq ft. The garage is 895 sq ft. This is a very private home and sits on nearly 1/2 acre.

Kailua Hawaii Beach House with Gourmet Kitchen

Spectacular Ocean Views from Every level of this Kailua Hawaii Beach Home.

Kailua Hawaii Beach Home, Bedroom with Ocean Views

Master Bedroom with Ocean Views in this Beachfront Hawaii Home (Kailua Beach, Oahu)

Kailua Hawaii Beach House with Ocean Views from the Jetted Bathtub of Master Suite

Kailua Beach House ground Floor Bedroom Overlooks Pool with Waterfall

 
Kailua Hawaii Beachfront Home with Fireplace

There's so much more to see! Prequalified buyers, please call me at 808-721-8088 and I will schedule a private viewing of this home. Aloha.

WHAT IS A CPR?

Did you know ... Hawaii was the first state in the United State to condominiumize?? It is no wonder considering the hundreds of highrise apartments buildings and spectacular ocean views in every direction that we have here, on Oahu. In the 1960's lawmakers essentially figured out a way to sell the air space above a particular piece of land, in apartment building highrises, by creating what was known then as a Horizontal Property Regime (HPR) and what is now called a Condominium Property Regime (CPR).

So, in its simplest form, a CPR is two or more condo units - a condominium (condo) is basically a single apartment dwelling with common elements on a property shared with one or more other apartments.  A CPR is created by registration and filing of a master deed or lease, declaration, by-laws, plans and public report with the State of Hawaii and approval of the project by the Hawaii Real Estate Commission enables the developer to sell the apartments in the CPR. 

When you purchase an apartment in a high-rise, the building and its grounds are typically a CPR and you are buying a condo or apartment within the CPR. (Note, however, apartments can also be a part of co-op or condotel). Most of the time, however, the apartment is a condo and to sell the condo, the developer or subsequent owner of the building must have officially created the CPR.

Condominium law is also used to circumvent subdivision laws. Sometimes a single family house is a condo. Usually these are called "CPRs" or "CPR homes." This means that the single family home is part of a condominium property regime. The condos in a CPR may be attached to one another (as in an high-rise apartment) or detached (as in a single family home subdivision). You can tell if a property is part of a CPR by looking at its TAX MAP KEY (TMK). A TMK is a number like 1-4-2-030-045-0000.  If the TMK ends in 4 zeros it is NOT part of a CPR. If the TMK ends in any other number, e.g., 1-4-2-030-045-0017, then the property is part of a CPR.

A CPR is usually created with respect to single family homes when the particular property that the owner/developer wants to divide is of a nature that cannot meet the regular subdivision requirements. For example, subdivision law requires that properties have a particular access or street frontage, or certain space or setbacks between properties, etc. On a narrow lot, for example, it may be impossible to divide the property in such a way to comply with subdivision law because you could never have an access road of legal width and still have room to build. In this case, if the property is large enough to meet zoning laws for occupancy and multiple residences, a CPR can be created. Notably, the lots do not have to be split equally by the number of apartments created. They are split however the developer wants to split them.

Like a highrise CPR project, a single family CPR will have common elements. There may or may not be  monthly maintenance fees and shared expenses. Usually, there is some kind of shared access. There may also be a shared wall or walls. A CPR could also be done by stories in a building. But any way it is configured, the minimum lot size requirement for two dwellings must be met, depending on the zoning of the property.

CPR Homes are often, but not always, on relatively smaller sized lots. For example, it is common to see 8,000-10,000 sq ft lots CPRed in areas where there is R-5 zoning.

There are other practical reasons to create a CPR.  One benefit of CPR-ing or Condominiumizing a property is that it allows the individual owners of each apartment in the CPR to have a separate mortgage. This can be important for multi-family or mulit-generational properties, to protect the individual property owners from the default of one of the others. For example, parents may allow their children to build another home on their property and take a mortgage on the property for financing of the construction. By condominiumizing, the parents can ensure that the children are on a separate mortgage for the property and that their security in their home and property is not jeopardized in the event that the child defaults.

If you have other questions about CPRs, condos or CPR homes, please call me at 808-721-8088.

Couldn't wait to go to broker's open today to see the new price reductions on Kailua Hawaii Beach Homes! Note: This is not my listing. But I would certainly be pleased to help a buyer purchase this Oahu Beach House.

15 Pueohala Place, now listed for $3,000,000 (a $295K reduction).

I know, it still sounds like a lot on money, but to get Kailua Beach, BEACHFRONT for $3,000,000 or under these days is rare. This Kailua Oahu Beach House is a best buy!!

15 Pueohala Place in Kailua, Oahu Beach House. Living Area. All images and data courtesy of HICentral MLS.

There have been only 3 sales for Kailua Beachfront Homes at $3M or under since 1/1/2006.

350 Dune Circle sold for $2,880,000 in October 2010. (#2 on Map, Below) This Kailua Oahu Beach House was 4BR/3BA and 2,644 sq ft on a 13,153 sq ft lot. The home was a tad bit dated and the floor plan seemed a bit cramped for its size. Also, the home was situated right next to the public beach access, making it less quiet and less private than the Pueohala home. It did have a nice large front entry space and was on Dune Circle which is a great little Kailua subdivision with Hawaii luxury homes, in the Beachside neighborhood of Kailua, with wide streets and several other well-kept Oahu beach homes and some non-beachfront homes, as well.

350 Dune Circle. Oahu Beach House in Kailua. Sold $2,880,000. 10/2010

21 Pilupu Place sold for $3,000,000 in September 2009. (#4 on Map, Below) This Kailua Oahu Beach House was 4 BR/ 4.5 BA and on a 3,008 sq ft. lot. This was a pretty funky, not so little home, with a lot of Lava Rock and a pretty much indoor/outdoor living room, in the camping out sort of way. Well, there is no really nice way to say it other than this Oahu beach house needed a complete renovation!

     
21 Pilipu Place. Oahu Beach Home in Kailua. Sold $3,000,000. 9/2009

40 Kaapuni, #1 sold for $2,800,000 in January 2006. (#3 on Map, Below) I did not actually see this Oahu beach house when on the market, but This home was 4BR/4.5BA and 2,753 sq ft on a 10, 913 sq ft CPR lot. A CPR lot is a condominum "subdivision" of land with another lot. For a full and better description of what a CPR is see my blog post on CPRs.

40 Kaapuni. Kailua Oahu Beach House in Beachside Kailua. Sold $2,800,000. 1/2006.

Map of all Sold Kailua, Beachfront Oahu Beach Houses, 2006-Present, for $3M or under.
#1 is still Active listing. From HICentral MLS.

The Oahu Beach House at 15 Pueohala Place that was recently reduced to $3,000,000 will make 4 sales of Kailua Oahu Beachfront Homes at $3,000,000 or less (unless the get an offer over asking), and I am pretty sure it will not last for too much longer.

View from Master Suite of this Oahu Beach House. 15 Pueohala Place in Kailua, Oahu, Hawaii.

What does this Oahu beach house have going for it? Beach frontage, on a nice spot on Kailua Beach. For now, a relatively empty lot next door, so views from every room. (See above.) And, even if next lot is built on, toward the back side by beach, the main living space would retain all views. There is also protected and private pool area (below), not facing beach. Nicely updated. High ceilings for a very spacious feel. Move-in ready.

15 Pueohala Place in Kailua. Gorgeous, private pool area. Beachfront listed at $3,000,000. Oahu Beach House Listing courtesy of Margy Grosswendt RE Agency LLC.

15 Pueohala Place Kailua Beachfront. Dining area. Photos courtesy of HiCentral MLS.

What makes the Pueohala Kailua, Oahu Beach House a lower price than some others? ... the lot size mainly, as most of the value in almost any Oahu beach house is in the lot. This lot is is 10,000 square feet. Still a healthy size, but smaller than many of the others. On the positive side, there is less space to maintain and pay taxes on. It is not brand-new remodeled (remodeled in 2007) or built (1970 build) but still looks great and has great beach frontage in Kailua.

This makes this Oahu Beach House in Beachside Kailua a "Best Buy" in my book!

Like to take a closer look? please let me know. 808-721-8088

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The Honolulu market is HOT at this price point! Particularly when it come to anything that has the added bonus of rental income... I received multiple offers on the first day of showings and closed $27K above asking.

Lovely Diamond Head area single family home in Palolo Valley, with 3/1 upstairs & a 1/1 unique European-style living space down, for unlimited possibilities. ++ 2 bonus Rooms (artist studio, storage, or ??). Large lot and Ohana eligible property.

List Price: $599,000 Fee Simple  ---  Closed 5/6/2011

Interior Upstairs: 3 bedrooms, 1 bath. Remodeled, large spacious great room, new paint interior, new stove and dishwasher, laminate flooring (over oak, not sure of condition), stainless steel kitchen countertop, new light fixtures, ceiling fans. Currently rented with Bonus Rooms #1 for $2400 a month to 4 grad students, who would stay if possible.

Interior Downstairs:  Unique owner-occupied European style living space. Has separate bedroom with closet and window, that can be closed off from living area, wet bar area with dishwasher and refrigerator. Soaring ceilings and lots of light give this space the feel of being quite large, though it has a small footprint. Floor to ceiling storage is maximized. Built in desk and drop down kitchen counter/table for eating. Back garden area and Bonus Room #2 - storage room/artist studio used by this unit.Washer and dryer are in yet another storage space and are shared by both units.

Live in this lower space almost for free ...  or live above and use downstairs as office or guest suite ... or rent both upstairs & downstairs unit for postive cash flow ... or live upstairs and rent the lower out ... so many possibilities.

Exterior:  Freshly painted. Lrg terraced lot planted with organic herbs and vegetables, trees, steps up to large view deck, Diamond Head and valley views, great breezes. Gardener's paradise!

Location: At top of the hill, quiet and private, away from the main street. Backs to green space. Located Close-in Palolo Valley. 5 minutes to Kahala Mall & Whole Foods, even closer to Kaimuki restaurants and shopping. Also near Chaminade University and UH Manoa. In Top-rated Hokulani Elementary School District. Palolo Valley is an up and coming, but still affordable, area. Ideal location for easy Honolulu living!

	1774J Palolo Avenue Honolulu, Hawaii 96816 BEDS:   4 BATHS:   2 SQ FT:   1,184 YR BUILT:   1954 FLOORS:   2 PARKING:   1 LOT SIZE:   5440 sq ft   Contact the Agent Agent: Yvonne Ahearn Email: yvonne@HomeShoppeHawaii.com Company: Home Shoppe Hawaii Web: www.OahuRealEstateHawaii... Office: 808-721-8088 Cell: 808-721-8088         Virtual tour at www.tourvista.com/6294   Additional Photos           Learn more about this property! View 13 larger photos www.tourvista.com/6294