Buying To Build – Norfolk
Seventh 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.
Although large parcels of buildable vacant land are available throughout Oahu, only a small percentage of these are located in East Honolulu and Kailua neighborhoods.
The largest are often zoned Ag-1 or Ag-2, which restricts the size and number of residential dwellings that can be built on the property. However, these lots often offer the advantage of pristine surroundings, open space, and privacy.
A unique land offering is currently available in Norfolk, a Kailua neighborhood considered particularly desirable with its numerous estate-size properties and zoning that permits horses.
Coldwell Banker Pacific Properties Realtor Kathie Wells, a resident of Kailua and specialist in Windward properties, has recently listed a 4 acre parcel that has been CPR’d into two sections of 2 acres each. The total price for the entire parcel is $2,200,000.
Wells said, “Possible buyers might be a family looking for an estate-size property to accommodate multiple family members and guests, a contractor who might want to build one or two homes for personal use or for sale, or simply someone who loves the outdoors and would appreciate the beautiful natural setting with land suitable for growing their own crops and having an orchard, or pasturing horses. I can envision it as a sustainable estate. There are so many possibilities.”
Wells noted that a residence built on the property would have sweeping views of the countryside and Mt. Olomana. There would be sufficient space for a swimming pool, tennis court, and putting green.
According to Wells, Norfolk was developed in 1986 by Lone Star Hawaii Properties, Inc. which established Protective Provisions and Design Standards “to ensure that the Norfolk subdivision shall be attractive and rural in concept; that the public views will not be impaired; that aesthetic standards for structures and their relationship to each other and to the public spaces and the terrain be promoted, and that nuisances and other impairments to the attractiveness of Norfolk be prevented.”
“For me, this property brings together the best of both worlds…here you can lead a country lifestyle in a rural environment with the town center of Kailua and Kailua Beach just a short drive down the high-way…and downtown Honolulu can usually be reached in less than half an hour via the Pali Highway.”
Wells said an “Open Lot” will be held at the site, 42-100 Kooku Street in Kailua, on Sunday, March 24, from 2 to 5 p.m. Property information including maps, a soils report, and CC&Rs will be available to interested buyers.