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Hawaii’s Luxury Condos

homes0608_2Tenth in a series

One of the largest and most diverse of Hawaii’s Neighbor Island resort/residential communities, Waikoloa consists of two distinct developments: the Village, located mauka of the coastal highway, and the resort destination on the shores of Anaehoomalu Bay.

Within the resort area are two luxury hotel properties, the Hilton Waikoloa Beach Resort and the Waikoloa Beach Marriott, two championship golf courses, commercial centers with shops and restaurants, numerous historic sites, and virtually every type of real estate. Residential properties include condominium homes currently ranging in price from $390,000 to $2.3 million, many available as short and long term vacation rentals and time-shares, single family homes, large private estates, and buildable vacant lots.

The most desirable of the condominium residences are those closest to the golf courses and sandy beach that rims Anaehoomalu Bay. At Kolea Resort Villas, a penthouse with a sweeping view of the ocean and Kohala coastline is currently being offered at $1,999,995 by MacArthur Sotheby’s International Realty. The gated complex, with direct shoreline access, comprises 126 condominium residences and 17 single family home lots, 12 of which have been built out.

Co-listed by Rebecca Keliihoomalu R (B) and Molly Harris R (S), the three bedroom, three and a half bath condo was recently renovated and professionally decorated. The 2,147 square foot interior, with an open floor plan and high ceilings, is augmented by a covered lanai that adds usable living and dining space overlooking the resort and ocean. The third floor private foyer is entered from a keyed, private elevator and is ADA accessible.

“The attention to detail in Kolea Penthouse 1-F is thorough and professional…it feels new and contemporary rather than the same old wicker and Hawaiian print decor,” Keliihoomalu said. “This is the lowest priced penthouse currently available, although it is one of the best located as an end unit, which means extra privacy and unobstructed views of the ocean with year-round sunsets and sunrises over Mauna Kea and the Kohala Mountain Range. Kolea Villas is the only Waikoloa condominiium development that is actually located on a beach, and it is the closest to the shops and restaurants.

“The three bedrooms enjoy ocean views in addition to the main living /dining area that flows seamlessly to the covered lanai. The vaulted ceiling and skylights add to the indoor / outdoor ambiance… there’s abundant natural lighting and ventilation supplemented by dual zone air conditioning. The heart of this penthouse is the gourmet kitchen with top-of-the-line Viking and Sub-Zero appliances. It is also fully stocked with cookware, dinner ware, and linens. The unit is move-in ready.

“Additionally, the property has a history of providing rental income… making it attractive for investors and vacation home buyers. Why not have your property produce income to offset taxes and holding costs…this has become a huge incentive for buyers on the Big Island.”

Keliihoomalu noted that Kolea Villas is within close walking distance of Anaehoomalu State Beach and the Kings and Queens Shops with numerous options for shopping and dining. Within the condominium complex are a private members club and swimming pool. Ocean sports activities can be arranged at the two beachfront hotels.

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