Special offer

Hualalai Resort (Four Seasons Big Island Hawaii) Auction #3...

By
Real Estate Broker/Owner with Hawaii Life Real Estate Services, LLC

With an original list price of $13M and a reserve of $5.9M, this seems like a deal too good to be true. But is it??

Buy this view – with a reserve way below original listing price

It's hard to say how great of a "deal" this property will wind up being. First of all, Cher's home - located just a few doors down - sold for just over $8M at the last auction in January. Funny how that sale doesn't show up in the local MLS stats as it was sold by the auction house, and not a Big Island Broker. Reason #1 to always hire a local Broker who works the neighborhood - they know the "inside scoop."

Of the four homes that have sold at Hualalai so far this year, the least expensive was a 6,000+ sqft custom home a few doors down on Lau'eiki Street, orginally listed for $10.9M, sold for $8.7M in February. Then, there was the 5,500 sqft "front row" home that sold for $9M also in February. The former owner of that home bought it for $15M in December 2003. Assumedly, the new owner will spend a pretty penny "upgrading" this "older" home. Then in March, another "front row" home sold for $13M - previous owners bought for $8.4M in 2001. This was in much nicer shape the $9M front row estate, and was originally listed at $17M. And then, finally, another front row (if you haven't figured it out yet, "front row" is the equivalent to "oceanfront" at Hualalai, although not all the homes on the front row are technically oceanfront, they are as close to the water as it gets at this resort) house originally listed for over $21M, sold in April for $14.5 - this estate actually being oceanfront.

Interpretation? Properties in the best locations are selling, and at a discount. Are they a "deal?" I believe that's a subjective determination from the standpoint of the buyer, depending on how they interpret the statistics. Whatever the final auction price on July 1st, I do know for certain that one lucky buyer will have invested in one of the most amazing spots in the world - the Big Island's Kohala Coast.

 

 

72-140 Lau’eki Street | Hualalai Four Seasons Resort, Kohala Coast, Hawaii

Located a few doors down from Cher’s previous estate home (Sold in January for just over $8M), here are some of the features included in this property that will be auctioned on July 1st, 2010.

  • 6,502 square feet under roof
  • 800+ square feet of lanais
  • expansive sliding glass pocket doors
  • hand-chiseled limestone flooring
  • cane-inlaid ceilings
  • fully- equipped outdoor kitchen, infinity pool and spa
  • Zen-like courtyard
  • media room
  • private guest house

Want to get some Hualalai Four Seasons "Life?" Contact me today to register for the auction, or for additional information.

Comments (1)

Beth Thoma Robinson
Hawaii Life Real Estate Brokers Big Island - Hawi, HI
R(B) SFR - Hawaii Island Luxury Resort Real Estate

Katie -- I had dinner with a local mortgage broker on saturday night...he brought his laptop as he had not one but TWO clients arrive on island and contact him about getting a prequal in hand for the auction.  Expect bidding to be fierce!  Somehow people think "auction" and are sure it will be a deal.  That's why your detailed rundown of the comparables is so helpful.  I think if we went through the other available homes it would not be hard to find something equally exciting for the "losers" in the auction. Not that anyone buying at Hualalai would be considered a loser!

Jun 28, 2010 09:33 AM