Coastal Options – Southeastern Oahu – Portlock Point
The southeastern coast of Oahu, bracketed by Koko Head in the east and Diamond Head the west, claims some of Hawaii’s most desirable and valuable real estate.
Development along this approximately 10 mile stretch of scenic coastline, almost exclusively residential, includes primarily single family homes, a few townhome communities, and a cluster of highrise condominiums at the edge of Waikiki. A hotel, country club, golf course, and two private beach clubs constitute the only additional development. Numerous parks provide acres of open space along the coast and within the communities.
The first permanent or primary residences began replacing vacation cottages on beachfront lots nearly a century ago. Kamaaina families with primary homes in the valleys and on the heights were attracted by the sunny weather and clear, calm waters of Maunalua Bay. Today distinctive estates set the tone for upscale living in neighborhoods from Portlock to Kahala.
Over the years, southeast Oahu oceanfront neighborhoods have continued to reinvent themselves, retaining value despite negative market fluctuations and offering renewed opportunity for local and offshore builders, buyers, and investors.
An outstanding property and virtually the last of its kind on Oahu’s southeastern coast -a 43,435-square-foot vacant lot at the end of Portlock Point -is currently available through List Sotheby’s International Realty at $2.5 million, more than $200,000 less than its 2018 officially assessed value.
Vacant since the original home on it was torn down in 2011, the isolated R-10-zoned property is at the end of Lumahai Street, situated on sheer Koko Head cliffs overlooking the ocean – literally at the end of all residential development along the point.
“The vacant lot is located on a quiet cul-de-sac in Koko Kai, one of the most prestigious neighborhoods on Oahu,” said Realtor and co-listing agent Yukiko Yang. “It is price-reduced and an extremely rare property offering oceanfront living at its best. This is an amazing opportunity to build your oceanfront dream home in a cozy, established neighborhood where you can also enjoy privacy and the serenity of the spectacular natural setting with waves breaking on the impressive natural rock formations below. Evenings bring the spectacle of brilliant sunsets with Diamond Head in the distance across Maunalua Bay.”
Realtor and co-listor Karla Casey added that the cliffside site would be “perfect for building a luxurious infinity pool overlooking the ocean.” She noted that the property was purchased by the current owner in 1998 as an investment and consequently is currently taxed as Residential A, which could be changed provided the new owner applies for and receives a homeowner exemption.
Though isolated, the location is close to all the conveniences of Hawaii Kai, community parks, Hanauma Bay, Koko Crater Botanical Garden, hiking trails, and surfing beaches.