I had the opportunity to sit open house at Kaiulani Unit 2 today. This project consists of 77 luxury townhomes built on the last 17 acre bluff parcel in PRinceville which was NOT OWNED by Princeville at Hanalei (formerly the Princeville Corporation).
The project is almost totally completed. Most of the units have sold and about 8 of the units are still being completed. The pool complex with 3 pools and barbecues and fountains and water features is complete. I am so impressed with the quality of the construction, the superior engineering and ergonomic designs, and the simple class of these units.
Today while sitting in Unit 2, a fully furnished 2800+ sq. ft unit which is selling for 2.195 Million, i had about eleven or twelve folks folks come through. That's brisk attendance for a weekday in Princeville. One family said they were looking under a million if possible so i brought them over to Unit 59, which is listed for 995K. This unit actually had very nice ocean views albeit a little smaller in size. Unit 59 is around 1900 sq. ft. It still has all the high end amenities which include solid granite slabs on all counters, and wolf range, sub-zero refrigerator, and well, you get the idea.
If you are looking for a Princeville condo, you need to be aware of how Kai`ulani stacks up against the existing inventory, most of which was built in the 70's. And, Kai`ulani stacks up very well. The units that face this vast valley and white water ocean views are selling for 2.5 million. Not too bad when you consider all the Princeville bluff homes that were built in the prior decades are selling for over 3M.
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