Finding Hawaii’s Affordable Condos
Ninth in a series
Probably the last place a buyer with a limited budget would look for an affordably priced condo is an upscale resort.
However, given today’s volatile marketplace and economic uncertainties, a good buy could turn up anyplace, anytime.
Currently Realtor Danette K. Andrews in the Century 21 All Islands Princeville office is listing a 1,058 square foot second story condominium unit in the Princeville Paniolo at Princeville Resort for $229,000 fee simple. She notes that the unit is in good condition, well equipped, and located in the complex within walking distance of golf, beaches, restaurants, and shops.
Built in 1979 by Inter-Island Builders and Developers, the Princeville Paniolo consists of 26 units in two story buildings on two and a half acres of land. The lushly landscaped grounds include a swimming pool and a walking path leading to Anini Beach with its reef-protected calm waters.
“This condo is uniquely designed with two separate living areas, each entered through its own door at the main entrance to the unit on the upper level of the building,” Andrews said. “One living area includes a great room with a kitchen, bath, and loft bedroom. The other is a studio with a full bath and kitchenette. Both units have vaulted ceilings.”
Andrews said the unit has been “beautifully remodeled” with new cabinets and granite countertops in the kitchen and new ceramic tile flooring.
“Since I began showing the unit this month, we’ve had offers from investors, retirees, and local entry level buyers who recognize that this condo is a really great value and opportunity to get into the market at an affordable price point. You could live in one part of this dual condo and rent out the other, which could take a big bite out of a monthly mortgage payment and/or the monthly association fee which covers building insurance, grounds maintenance, security, and water. A reasonably priced rental would fill a real need in the area for rental housing for people who work at the resort and nearby businesses.”
The Princeville Resort is located on the north coast of Kauai overlooking idyllic Hanalei Bay with its nearly two miles of sandy beach. Within greater Princeville’s approximately 10,000 acres is the 1,000 acre Princeville resort/residential community which encompasses 774 single family homes, 1,100 condominium units, 850 time share units, the St. Regis Princeville Resort, and the Makai Golf Course. The Princeville at Hanalei Community Association maintains common areas, including parks and 10 miles of roads, ensures adherence to community covenants and restrictions, and oversees a security operation. The 2,500 acre Princeville Ranch, a working cattle ranch, is a source of recreational activities, including horseback riding and guided nature treks. But for visitors and most residents, golf is Princeville’s main attraction. The Prince Course and the Makai Golf Course, both designed by Robert Trent Jones, Jr., are considered by many to be the most scenic in Hawaii, possibly in the U. S. The Prince, ranked number 22 on Golf Digest’s list of America’s 100 greatest public courses, has undergone a $5 million renovation, completed last year. The Makai Golf Club, also an 18 hole championship course, and the 9 hole Woods Course are located on the St. Regis property.
Andrews is showing the Princeville Paniolo by appointment (contact the Century 21 All Islands Princeville office).