Hawaii’s most famous landmark, Diamond Head, is not only an icon of the 50th State…the now extinct volcano is also responsible for the creation of some of the world’s most prized real estate. Residential development within the Diamond Head/Waikiki section of the south shore of Oahu includes both single family homes and condominiums representing a wide price range, but all with equal access to the special amenities of the area, including some of the most favorable weather conditions in the Islands and the two-mile stretch of sandy beach and calm, reef protected waters of Waikiki.
Diamonds hold their value despite fluctuating markets…so does Diamond Head real estate. Honolulu Board of Realtors statistics for the period January through October 2011 show an 8.75 percent increase in the single family home median price from $1,999,999 in 2010 to $2,175,000 in 2011; sales prices ranged from $1,020,000 for a 1,300 square foot house built in 1926 to $10,600,000 for a 4,700 square foot house built in 1949.
Historically, Diamond Head was favored by Hawaii’s kamaaina families whose homes were sited on the lower slopes and around the rim of the crater, structures ranging from simple cottages to grand estates such as La Pietra. Now Hawaii School for Girls, La Pietra was built by Walter Dillingham in 1922 on land acquired from James Campbell.
Many of the older homes were designed by prominent architects of the period and have been preserved and remodeled over the years; some are now listed on the State and National Registers of Historic Places.
In 1948, Don Ho, who was to become Hawaii’s best known entertainer, built his own home on Gail Street on the western slope of Diamond Head. Ho performed in Waikiki and took his Hawaiian revue to clubs and stages worldwide over a period of five decades. The property has been placed on the market by Patricia Choi, who has again been named Hawaii’s #1 Realtor by Hawaii Business magazine and recently ranked #14 nationwide by THE WALL STREET JOURNAL and REAL Trends.
“Don had many reasons for choosing this Gail Street location to build his home,” Choi said. “Besides its convenience to the clubs in Waikiki where he performed, it’s very private…at the end of a cul de sac, overlooking Kapiolani Park and the ocean on one side and Diamond Head on the other. From the lanai you can watch the spectacle of Waikiki lighting up at night as the sun sets out over the ocean.”
Choi pointed out that the home is also walking distance to Kapiolani Park, private clubs, beaches and surf spots, shops, restaurants, and Waikiki nightlife.
Listed at $3,000,000, the four bedroom, four bath home occupies a 14,085 square foot lot. The interior living space of 6,240 square feet is augmented by an additional roofed area of 1,204 square feet and a 1,056 square foot open lanai. It was remodeled in 1959. Choi is showing the home by appointment only.