Going once: Hualalai Resort estate to be sold at auction

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Going once: Hualalai Resort estate to be sold at auction

Janis L. Magin Managing Editor of Digital Content- Pacific Business News | Feb 22, 2013, 4:49pm HST

Three years ago, Wayne Lau was a bidder in the auction of a luxury home on Hawaii’s Big Island owned by the entertainer Cher.

Now he’s selling his own Hawaii property — a 10.056-square-foot custom home in the Hualalai Resort on the Big Island — in a March 18 auction co

"Hale Ku Mana" at the Hualalai Resort on Hawaii's Big Island will be sold at auction on March 18.

“Hale Ku Mana” at the Hualalai Resort on Hawaii’s Big Island will be sold at auction on March 18.

nducted by Concierge Auctions, the same firm that sold Cher’s house at Hualalai Resort for $8.7 million.

Lau’s 1.33-acre property, “Hale Ku Mana” or “House of Spiritual Healing,” will be sold in cooperation with Hawaii Life Real Estate Brokers, which is currently starring on its own show on cable’s HGTV.

The house was originally offered for $18.5 million. Forbes magazine included it in a feature last May about “homes with incredible showers and bathtubs.”
“It’s completely private, the landscaping is immaculate and each of the five bedrooms is a master suite, four of which have ocean views, which is rare,” Hawaii Life Realtor Beverly Molfino said in a statement, noting that the house is surrounded on three sides by the members-only Keolu Golf Course. “It truly is a one-of-a-kind home that requires an equally unique buyer on auction day.”

Lau has been following the auction firm’s activities since bidding on Cher’s house.

“Living in the Far East and Geneva, I am also familiar with how the finest pieces of art are sold through global auctions,” he said in a statement. “It seems natural to sell the finest of homes in the same way.”

The property also comes with rights to all the amenities of the nearby Four Seasons Resort Hualalai.

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The 10 Most Expensive Cities to Buy a Home

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The U.S. home prices have begun to rebound in the past year. And in the most expensive markets, where the average home sells for well over $1 million,  recoveries are among the strongest, increasing between 20% and 50% in most cases.

Income in the expensive housing markets is among the highest in the country. According to U.S. Census Bureau data, median household income in these cities far exceeds the U.S. median income by at least $20,000. In Saratoga, California, one of the cities on our list, median income is nearly triple the U.S. figure of $51,914.

The two cities not in California on this list are Kailua, Hawaii, and Rye, New York. In the case of Rye, the city is located within the expensive Westchester County, within commuting distance from New York City. According to Huskey, desirable communities with access to New York City have remained stable and high-priced.

In Kailua, located on the island of Oahu — the same island as Honolulu — high prices are reflective of most of the real estate market in Hawaii. The state has limited available property, explained Huskey, which drives up prices. “While there’s only one particular market in Hawaii that reached the top ten, Hawaii proved the most expensive on an aggregate measure.”

#8. Kailua, Hawaii
> Avg. listing price: $1,238,208
> Median household income: $91,082
> Pct. households $200,000+ income: 14.7%

 

Kailua is one of just two cities on this list not located in California. The O’ahu Island city is 12 miles northeast of Honolulu, which had a vacancy rate of 2.7% — better than most areas but considerably worse than the other areas on the list. As of October, the median price per square foot for a home in the Honolulu area was $398, more than in any other metro except for San Francisco. According to Trulia, a 0.75 acres plot of land, which includes 128 feet of beachfront, is currently for sale for $16 million in Kailua.

Read more: The 10 Most Expensive Cities to Buy a Home – 24/7 Wall St. http://247wallst.com/2012/11/28/the-10-most-expensive-cities-to-buy-a-home/

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In the Hawaii Historic Registry! One-Of-A-Kind Gem Diamond Head $1,950,000

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Hr1104645-1  


2826 Coconut Ave
Honolulu, HI 96815

Price: $1,950,000
Your 30% Buyers Commission Rebate would be up to $17,550.00 to use towards closing costs or even cash back if your lender approves  

  • 2 Bedrooms
  • 2 Bathrooms
  • 2051 Square Ft    Listing # 1103988

 

To secure your 30% commission rebate – contact us now

 

This is a one-of-a-kind gem at the base of Diamond Head! With very few homes in this classic neighborhood of vintage properties, you will have the best of all worlds. The cottage has all the modern conveniences while in keeping with its historic past. Enjoy being steps away from the Surf and Kapiolani Park. A true walking neighborhood. It's all about lifestyle! In the Hawaii Historic Registry!

Basic Features:

  • Acres: 0.08
  • Region: DiamondHd
  • City Name: Honolulu
  • Neighborhood: DIAMOND HEAD
  • Schools: Waikiki
  • State: HI
  • Zip: 96815
  • Bathrooms: 2
  • Bedrooms: 2
  • Partial Baths: 
  • Square Ft: 2051

Additional Features:

  • Additional Rooms: None
  • Amenities: Full Bath on 1st Floor,Landscaped,Lawn Sprinkler,Patio/Deck,Wall/Fence
  • Construction: Masonry/Stucco
  • Furnished: P
  • Interior Living Area: 2051
  • Land Area: 3498
  • Lot Description: Other
  • Parking: 1Car,Garage
  • Pool: None
  • Prop Condition: Excellent
  • Remodel Year: 1991
  • Security: Key
  • Property Type: Residential
  • Stories: Two
  • View: Diamond Head
  • Year Built: 1920
  • Land Tenure: Fee Simple

 

 To secure your 30% commission rebate – contact us now

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© 2011 HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on Thursday, June 2nd, 2011. Some of the active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company’s active listing, you may speak to one of our agents regarding your options for representation. Listing courtesy of Coldwell Banker Pacific Prop..

 

"Don't forget about our special Buyer Rebate Program that we offer – which is 30% of our commission is paid back to you the Buyer, as a rebate – in other words if you purchase a property for $500,000 you would receive $4,500.00 back to use for your closing costs, new carpet or paint, furniture or anything you like even cash if your lender approves"

 

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