Buying To Build – Portlock
Eleventh 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.
Like many of Oahu’s older oceanfront neighborhoods, Portlock is experiencing a renaissance consisting of both major remodeling of classic vintage homes and demolition of others to make way for new builds. In some cases, property owners have chosen to market their cleared property rather than redevelop it.
Currently listed by Mary Worrall & Associates Sotheby’s International Realty is a rarely available double oceanfront lot with 186 linear feet along the sandy shoreline. The largest vacant property in the neighborhood with 28,182 square feet, it is being offered for $7,000,000 fee simple.
“The wide frontage makes this property particularly desirable for a new luxury home,” Worrall said. “It’s also large enough to create a multi-generational residence with a second structure
that could be used for family members or as a guest cottage. There’s ample room for a swimming pool and lots of parking.
“Because no one can build in front of you, there would always be a clear view across Maunalua Bay to Diamond Head. I can envision a beautiful one story home with ocean and coastal views from all major living areas. Portlock’s sunset views are simply spectacular with Diamond Head silhouetted against the western sky. These bayfront homes offer privacy and a peaceful ambiance since the beach is rarely used by anyone except residents walking their dogs or putting their surfboards in the water. Although it’s just a short drive to the Hawaii Kai malls, the highway is far enough removed that traffic sounds don’t reach the homes along Portlock Road.”
A specialist in Portlock properties, Worrall is credited with the last four oceanfront sales in the area. She recently sold a newer 7,000 square foot luxury home on a lot extending from the beach to the road to an Asian buyer for $9,999,995 after only 34 days on the market. She publishes a Portlock newsletter, which is available on request.