Oceanfront Options – The Windward Coast – Punaluu
The Windward Oahu region itself is unrivaled in its natural beauty and dramatic contrasts – from its pristine white-sand beaches washed by turquoise waters to the verdant vertical cliffs of the Koolau Mountain Range.
In 1972, Kuilima, now Turtle Bay, opened on coastal lands where the North Shore morphs into the Wind-ward Coast. Mauka lands in the area have generally remained undeveloped, with the exception of ongoing projects of the Mormon Church.
The coast’s most prominent geographic feature, Mokapu Peninsula, site of one of Hawaii’s largest military installations, forms the southern boundary of Kaneohe Bay. Marine and oceanographic research facilities are located here, as well as at Makapuu to the south.
Residential properties along this coast range from country cottages to large estates, apartment buildings, townhomes, and condominiums. The area’s two largest communities, Kaneohe and Kailua, continue to grow, with real estate values surpassing price points for properties in some of southeast Oahu’s most upscale neighborhoods.
In the small Punaluu community about eight miles south of Kahuku is an unusual oceanfront opportunity located across the street from a park and beach … a perfect spot for enjoying the sunshine and expansive ocean view, as well as the dramatic Koolau mountain backdrop.
What makes the 5,840-square-foot fee simple property unusual is that it is vacant, but comes with building plans for a single-family home that includes a legal accessory dwelling unit (ADU).
Listing agent Koby Berrington of East Oahu Realty, which is offering the property for $550,000, said whoever buys the site would not be required to build a new home according to those plans, but the building documents have already been approved by the relevant government agencies, which would enable construction to get started quickly.
Specifically, the plans provide for a 3,402-square-foot, two-level home with three bedrooms and two baths upstairs, while the downstairs would host the already legal two-bedroom, one-bath ADU. This accessory dwelling unit could be used for family or friends — or rented out, if desired, for extra income.
“The beauty of it all is that the planning and the arduous permitting process have been done,” Berrington said.
Brad Hennington, vice president and loan manager for Honolulu HomeLoans, pointed out that having approved housing plans included in a land sale makes it easier for a buyer to secure a land loan. “The lender wants assurances that construction is possible and likely in order to change the loan to a construction loan or, preferably, to a residential home loan if construction financing is not needed.”
Berrington said the property offers “a one-of-a-kind opportunity to own a lovely home right across the street from a beach park that includes picnic tables and shade trees — beach amenities and ocean views without the beachfront price.”
The level lot is totally fenced with a security gate, and all utilities are ready for building. Punaluu Beach Park is just south and popular small retail stores and restaurants are a short drive in either direction.
To visit the property or for more information, contact Berrington at 277-8135 or email firstname.lastname@example.org.