Third 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 vacant residential beachfront property available on Oahu – a 32 acre Ag-2 parcel at Mokuleia – has been listed by Century 21 All Islands Realtor Margie O’Neill for $18 million.
The owner is offering the property in its entirety, but is willing to entertain offers for separate, 7 to 8 acre lots. In 2003 the property was subdivided into four lots, each with approximately 280 linear feet of ocean frontage and access to Farrington Highway and utilities. Zoned Ag-2, each lot could be developed with two separate homes and possibly additional structures, such as stables.
The entire property is level, fenced, and vacant except for stands of mature trees. Currently parts of the property are being utilized for horse boarding by the nearby Hawaii Polo Club, where Sunday polo matches are held from April through October. Sunday afternoon polo has been a North Shore attraction for 50 years, offering an opportunity to watch Hawaiian teams compete with teams from around the world. Matches, which begin at 2 p.m., are attended by both residents and visitors who take advantage of the beachfront location for picnics and swimming. The club also offers trail rides, hosts weddings and other special events, and operates a year-round polo school. It’s a short walk from the property to the polo field. Across Farrington Highway is the historic Dillingham Ranch.
“This North Shore property could become Hawaii’s premier beachfront ranch estate,” O’Neill said. “I can visualize the main residence and guest houses along the beachfront, with the stables and other buildings extending back to the highway. The estate would have an amazing 960 feet of linear beachfront on the island’s famous North Shore just about 10 minutes from Haleiwa, one of the area’s renowned surfing beaches. H o w e v e r, t h e coastal waters at Mokuleia are generally calm with the waves breaking outside on the reef where there are a number of surfing spots. Lots could be purchased individually and developed in a variety of ways…one proposal we’ve received suggested that development of duplexes might be feasible.”
O’Neill pointed out that local residents are protective of the North Shore’s pristine beaches and expanses of unspoiled countryside. They want to “Keep it Country,” as the slogan goes. The verdant valleys and foothills of the Koolaus are not only “horse country,” but now agricultural operations are emerging as another viable development alternative for North Shore lands.
“Mokuleia and Waialua are not so well known as Haleiwa and Sunset Beach, made famous worldwide by the sport of surfing and film and television productions. So the neighborhoods are consequently less frequented by visitors and traffic tends to be lighter…you can be on the H-2 freeway in 10 minutes and in downtown Honolulu and Honolulu International Airport in about 45 minutes. Both light planes and helicopters utilize the Dillingham Air Field, about five minutes away. Glider rides are also available there.
“There’s no shortage of opportunities for recreation and entertainment…old Haleiwa Town and the North Shore Marketplace offer numerous options for shopping and dining. The Turtle Bay Resort with two golf courses and fine dining is an approximately 16 mile scenic drive down Kam Highway.”
O’Neill is showing the property by appointment.