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Buying To Build – Kaneohe Bay

Fourteenth 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.

The largest available road-to-coast vacant property fronting Kaneohe Bay, a total of 50,965 square feet and originally offered only in its entirety, has been CPR’d into four separate lots.

The price for the entire parcel remains at $3,888,000, but now individual land units are also being offered: two fronting the bay, one of which includes an existing home utilized as a rental, and two on Kaneohe Bay Drive, which can be purchased with plans for proposed homes on the site by designer Linea Brooks.

“A buyer purchasing this acre-plus property could create one of the largest private waterfront estates in Kaneohe,” said Cold-well Banker Pacific Properties Realtor and Vice President Kathy Grindle, a specialist in Windward properties. “However, with the division of the property into four separate lots, buyers can choose from a number of options – from buying one to all to any combination of the available lots.”

Grindle noted that the owner/developer, a local partnership, is creating an infrastructure that provides access to both Kaneohe Bay Drive and the ocean for all lots, as well as ocean, coastal, and mountain views. Utilities are available.

“Kaneohe offers an option for buyers who find Kailua prices out of reach, particularly oceanfront, and this neighborhood has continued to retain its country ambiance and a feeling of ‘old Hawaii.’ Views are the area’s main attraction for buyers and builders. Homes on the edge of Kaneohe Bay enjoy a diversity of views – coastline, offshore islands, and the dramatic backdrop of the sheer Koolau cliffs. The morning sunrise view across the bay is both serene and spectacular…as the sun rises and travels across the sky the colors of the water change from a pale blue green to a brilliant turquoise. In late afternoon, the clouds gather and the rays of the setting sun create another new and different skyscape and seascape. Residents of the area sit out on their decks at all times of day to savor the changing views.”

Grindle pointed out that Kaneohe Bay also offers opportunities for a variety of watersports, including kayaking, fishing, stand-up paddling, and water skiing. The best swimming, however, is about a mile away at the north end of Kailua Beach.

She emphasized the convenience of Kaneohe in terms of access to the Airport, Downtown Honolulu, Pearl Harbor and military bases via the H3 Freeway. The listed subject property is close to the H3 on-ramp, so within approximately 20 minutes of these destinations, as well as a short drive to the restaurants, shops, and beaches of Kailua.

Grindle is showing the property by appointment and can arrange for the owner/developer to be available to discuss various options for development.

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