Buying To Build – Hawaii Loa Ridge
Ninth in a series
Buyers in the market for a “piece of paradise” are often surprised to find that vacant land, even very large “pieces,” is available and at prices that look like a bargain in comparison to what similar offerings would command elsewhere. In this “Buying to Build” series, Realtors will comment on listings ranging from multi-acre parcels in the country and on the coast to small lots in city neighborhoods…what they will have in common is that all will offer development potential.
More than 30 years have passed since infrastructure and subdivision development began on Hawaii Loa Ridge. Today only a few vacant lots are available in the upscale, gated East Oahu neighborhood where a total of 556 homes have been built over the years.
Among the five vacant lots currently on the market, two have been listed by Coldwell Banker Pacific Properties Realtor Margaret Murchie, who has been active in Hawaii Loa for more than 20 years with more than 60 recorded sales.
She is currently offering an approximately half acre lot at 269 Kaialii Place for $2,500,000. “This is a choice rim lot, low on the hill on a quiet cul de sac,” Murchie said. “The views are wonderful from this property –sweeping ocean, Diamond Head, sunset vistas. It’s a more intimate view of the shoreline, ocean, and breaking surf than you get from higher elevations. And it’s just a short drive down to the highway. However, the size of the lot will ensure privacy. The buyer would have an opportunity to create a really fabulous new home in one of East Oahu’s most desirable neighborhoods.
“The lot we are offering has varied topography, a gentle downslope with level and terraced areas. The property has been cleared and utilities are available…and, of course, all utilities are underground in Hawaii Loa Ridge.”
Murchie pointed out that guidelines for design and construction to ensure quality and environmental integrity have been established by an architectural committee. Owners must agree to landscape their property, including the planting of specific mature trees. Colors, exterior siding, and roofing must be approved by the design review committee.
She also noted that Hawaii Loa Ridge is known for its excellent security, with the Security Post in operation 24 hours a day, seven days a week. A 24-hour security patrol is under the auspices of the Hawaii Loa Ridge Owners Association, with an “in-house” Chief of Security directing operations.
Residents have access to two tennis courts, a park, clubhouse, and barbecue areas, plus a hiking area and workout circuit in a park setting at the top of the hill. Maintenance of these and other common area facilities is provided by an on-site management office.
In addition, Murchie is marketing a unique Hawaii Loa Ridge property — the 2.99 acre Pointe Club. Originally built as a community facility, it is now being offered as a residential property consisting of the approximately 1,500 square foot clubhouse, a large swimming pool, tennis court, and party pavilions.
“Most of the Hawaii Loa Ridge homes have their own swimming pools, so the Pointe Club was underutilized,” Murchie said. “Plus there are tennis courts, a clubhouse, and park areas in the main community, so Pointe owners voted to sell it. The Pointe Club is one of the largest pieces of developable ocean view property in East Oahu.”
Listed at $4,750,000, the property is located in an interior gated enclave. Murchie noted that the existing club building, an award winning design by Group70, could be converted into the main home, or used as a guest house or pool house. The lot cannot be subdivided but zoning allows for the construction of a much larger residence provided it is approved by the architectural review committee. Construction at The Pointe got under way around 1990; all lots were sold but a few remain undeveloped. With R-10 Zoning, lots in The Pointe are generally larger than those in the rest of Hawaii Loa Ridge, contributing to the sense of privacy considered a particular feature of estates in the enclave.