Homes for the Luxury Lifestyle
Nineteenth in a series
Although Hawaii Loa Ridge is positioned as East Oahu’s “newest” luxury home community, the majority of the homes in the 556-lot development are between 15 and 30 years old. However, construction continues on remaining vacant lots as well as in The Pointe, a 20-lot gated enclave within Hawaii Loa. Remodeling is also in progress throughout older sections of the hillside neighborhood.
What has ensured the desirability of Hawaii Loa over the years is a visionary development plan. The infrastructure was designed to create protected view channels for the large majority of the lots and security was emphasized. Gated at the main entrance, Hawaii Loa also maintains an owner’s association that manages a 24-hour security operation, as well as tennis courts, a park, clubhouse, and barbecue areas.
An architectural committee has set guidelines for design and construction of homes on the hill to ensure quality and environmental integrity. Owners must agree to landscape their property, including the planting of mature trees. Colors and exterior siding and roofing must be approved by the design review committee.
Coldwell Banker Pacific Properties Realtor and Vice President Margaret Murchie has been active in Hawaii Loa for approximately 20 years with more than 60 transactions representing buyers and sellers. “Asian buyers continue to be attracted to Hawaii Loa by the emphasis on security and the panoramic ocean and shoreline views. High profile buyers, many of them from the entertainment industry, have contributed to the neighborhood’s cachet,” she said.
“The former home of Hollywood producer Al Masini sold for the second time in July for $10,001,000 to a Japanese buyer. This property combined three lots for a total of 30,855 square feet.
“The former Pointe Clubhouse property, which I listed in 2010, recently sold for $3,950,000 to an Asian buyer, who may remodel or rebuild into a single family residence. Proceeds from this sale will go to the owners of the Pointe Association, who will no longer have the expense of maintaining the underutilized property.”
In June of last year Murchie sold a lower rim lot of 23,503 square feet for $2.5 million, which is the highest price commanded by vacant land in Hawaii Loa for several years. The property was purchased by an Asian buyer from the original owner, who was from Singapore.
Murchie noted that prices have continued to pick up and inventory is low with only 11 homes currently available for sale starting at $1,650,000 for her listing at 114 Kokololio Place.
“My new listing at 691 Kaulana Place is a two level, four bedroom, four bath home with gorgeous ocean and Koko Head views,” Murchie said. “The house has a total of 4,428 interior square feet plus another 323 square feet of decks off the main living area. Interior features include high ceilings, an open floor plan, and a unique indoor/outdoor water feature at the main entrance. The 13,770 square foot property includes landscaped gardens, a three car garage, swimming pool, and outdoor entertainment and barbecue areas. The owner is an artist who gets her inspiration to paint seascapes from the view of the ocean from her covered poolside patio.”
The home, which is priced at $2.7 million, is currently being staged for showings which will begin in mid April. Murchie will be showing the home by appointment.