The diversity of the Punchbowl neighborhood is evident in the range of properties currently on the market. Punchbowl is actually a dual neighborhood with Upper and Lower sectors, the latter characterized by extensive highrise and midrise condominium development that began spreading through the area in the 1960s.
Punchbowl is both a natural landmark and a historic site as the location of the National Memorial Cemetery of the Pacific. The profile of the extinct volcanic crater, formed between 75,000 and 100,000 years ago, duplicates Diamond Head when both are viewed from the west. Its ancient Hawaiian name, “Puowaina,” or “hill of sacrifice,” has taken on new meaning with the construction of the cemetery as the final resting place of those who sacrificed their lives in modern wars. Now on the National Register of Historic Places, it is open to the public and one of Oahu’s most frequently visited historic sites.
Properties listed for sale include condominium apartments, apartment buildings, single and multi family homes, including vintage homes and older homes offered as investment opportunities.
The former home and gallery of one of Hawaii’s most highly ac claimed artists, Madge Tennent, is offered for sale by Coldwell Banker Pacific Properties Realtor Beth Chang for $1,895,000. The gallery was designed in 1954 by Vladimir Ossipoff FAIA and is listed on the State Register of Historic Places. Architect Sid Snyder, principal of Ossipoff Snyder Architects, noted that the two story structure is constructed of concrete and features a unique barrel vaulted roof. “The gallery is upstairs and an apartment is on the lower level…you enter the property from Prospect, walk through the old garden, then down the original stone stairs to the gallery entrance. The white masonry walls with extensive use of natural wood trim and finishes sets up an elegant contrast. It’s a very habitable urban setting,” Snyder said.
Located at 203 Prospect Street, the property consists of two lots totaling 26,697 square feet, both zoned R-3.5. Approximately half of the property is flat and the balance terraced with views to Downtown and Alewa Heights. The single family home/studio with 4,144 square feet includes 2 bedrooms and 2 baths.
This is a rare opportunity to own a large fee simple parcel close to town with many options for redevelopment, particularly if CPR’d,” Chang said. “I can envision a wonderful ‘green’ proj ect with several cottages on the vacant lot surrounded by the original gardens, historic trees, and stone walls…the gallery seems to be in good condition and could be renovated into a loft-style apartment.”
Chang is selling the property on behalf of the owner, Hawaii Preparatory Academy in Waimea. The Tennent family donated both the Tennent collection and the property to the school.
RE/MAX Kai Lani Realtor Cori Hamilton is marketing a vintage home at 998 Spencer Street, built in 1925 and completely remod- eled this year. “This is a great family home with four bedrooms, two baths, and a separate detached cottage with its own bedroom, bath, and kitchen…perfect for extended family, office, or rental,” Hamilton said.
“The owners preserved the original detailing, including crown molding, wall sconces, light switches, and wainscoting, while modernizing with new kitchen and bath fixtures and electrical wiring. The garden includes flowering plants and a rare heritage avocado tree.
“As a resident of a very family- oriented neighborhood in Kailua, I was surprised to find that parts of Punchbowl have a similar atmosphere with several generations of the same family retaining a home…people who grew up together still living close-by. It has a small town feel, yet it’s right on the edge of the city.”
An 88 year old, partially re-modeled, 682 square foot single family home on Leilehua Lane has been listed by iProperties Hawaii for $350,000.
Among the investment properties available in the Punchbowl area is the Iolani Avenue Apartments listed by Choi International for $2,950,000. Listing agent Cedric Choi notes that the four story, 15 unit building, comprising studios and one bedroom apartments, is an ideally located rental property within walking distance or short bus ride to the business district, shops, and restaurants.