Million $ Homes!
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Now's the time to BUY! Prices on Oahu have dropped significantly. Whether you're buying or selling, call Vic & Myra and let's make this Your Best Move!
The Diamond Head area is home to over 400 families and stretches like a skirt around the front of this extinct (tuff cone) volcano to Black Point, a latent stage volcanic vent on the eastern side. On these slopes have been the site of distinguished homes since the 1920's. On the Kapiolani Park side, La Pietra, a Florentine villa built for the Dillingham family in 1921 is located off Poni Moi Road and now house the Hawaii School for Girls. On the "Black Point" side the late Doris Duke owned a nearly 5 acre waterfront estate with it's own boat harbor. Chris Hemmeter, who undoubtedly had Oahu's most expensive home built here in the late 80's, with building costs estimated to be well above $20 million had his Estate on the market in 1991 for $63 million. It sold 12/30/94 for $12.5 million. Today, it may very well be worth that original asking price!
One of the most famous neighborhoods in the World is Kahala. This nearly level stretch of ground begins at Fort Ruger (Triangle) Park where Diamond Head Road meets Kahala Avenue and meanders over 1.5 miles through some 900 plus homes to the newly remodeled Kahala Hotel and Waialae Country Club. Waialae Kahala, another name for the area, derives its name from Waialae Springs which supplied water for the chiefs of the area and was used for chicken, pig and feed farms as well as dairies back in the early 1900s. Even today, Farmer's Road is one of the main connecting streets, and pikake trees are tucked amid some of the houses. Old-timers used to take day trips in open cars on dirt roads to this, "the country," and stop for shave-ice and hamburgers where Kahala Mall is now located. Kahala and Aukai Avenues were developed as half-acre lots in the 1920's and 30's for 25-35 cents per square foot, leasehold, and now bring nearly $170 per square foot, fee simple. The original subdivisions in 1951 sold for $9,500 to $35,000 for an 8,000 to 10,000 sf lot. In the late 80's, early 90's at a time previously referred to as "the top of the market," those same 10,000 sf lots commanded over $1,000,000. And now, nearly two decades later they are again selling for approximately $150 to $180 per square foot depending on size and location. Waterfront property (for just the value of the land) is in the $380/sf to $540/sf range depending again on size, location. Then you have to add more for the improvements, i.e. home, tennis court, swimming pool, etc.
On the slopes directly above the Waialae Golf Course is a ridge line neighborhood known as Waialae Iki and home to over 1,000 families. It is known mostly for upscale homes with nice views of Diamond Head and the ocean. In earlier times, taro, sweet potatoes, tobacco, bananas, and sugar cane were grown by a large native population along the shore and Waialae Iki was originally planted in pineapple. It was later developed in 1965 and sold off in 8,000 to 30,000 sf lots at $3 to $3.50 per sf. ($35,000 to $50,000 for sloping lots) Today, Waialae Iki has matured nicely however there are a handful of home sites still available. Lots range in the $60 to $80/sf range for smaller lots in the 8,000 to 10,000 sf range and slightly under that for an estate lot in The Highlands. Homes with improvements in the older section begins at $1,200,000 and stretch to $2,500,000 for some of the very nicest of view homes.
This million dollar neighborhood is the Oceanside stretch of Kalanianaole Highway (also known as Kal. Hwy.) from where it begins at the end of the Waialae Golf Course and Kai Nani area and runs to Hawaii Kai. Also included in this 5 mile long stretch is the luxury neighborhoods of Wailupe Circle, (map) Niu Beach and Paiko Peninsula. Altogether there are approximately 185 beach-front homes along this south facing stretch of East Oahu; some fixer-uppers in the $1,600,000 range and some much larger luxury homes in the $7,000,000 or more range.
One of Oahu's most recent ridge-top developments with space for nearly 485 homes began selling their first increment in the early 80's. It quickly sold out making way for 8 additional increments further and further up the ridge. The views from Hawaii Loa Ridge are sensational. Most homes are built to take advantage of either the Diamond Head view or the Koko Head/Koko Crater view and some are blessed with the 180 degree panoramic view which includes both. This newer gated neighborhood attracted the rich and famous from the start. Al Masini, Executive Produce of the Life-style of the Rich and Famous built a huge home stretching over three lots. If your dream is to build a new home on the ridge there are still a few home sites to choose from ranging in the $80 to $100 per sf range ($800,000 to $2,200,000). The average 3,000 to 4,000 sf home on the ridge today will cost in the $1,500,000 to $2,200,000 range.
This posh neighborhood comprised of nearly 600 large, elegant view and waterfront homes is located on the south western slopes of Koko Head - the back side of Hanauma Bay. Portlock is the most prestigious section of Hawaii Kai which was developed in the early 1960's by Henry Kaiser of the Kaiser Aetna fame. This modern and well laid out community encompasses nearly 6,000 acres with half-open spaces, 258 acres of marina-front (12 miles of water frontage) and 3, 500 acres of residential, commercial and resort zoned areas. The late Mr. Kaiser used to reside on the best water front acres in the Portlock area - attesting to its prime intrigue. He had 7.2 acres on 5 parcels with 900 linear feet of ocean frontage. Today, in the Portlock area there are no future plans to develop higher up the slopes of Koko Head, however the homes built here rest on larger than average, 12,000o 15,000 sf parcels attracting Buyers who willing pay more for the additional land. Average homes prices range in the $1,200,000 to $14,000,000 depending on view and proximity to the ocean.
On a plateau where you can touch the sky, below a panorama of azure blue and emerald green, rolling hills, deep valleys and majestic craters. Na Pali Haweo in English translates simply as "Cliffs of Distinction." Located on Eastern end of Oahu, approximately 13 miles from downtown Honolulu, this newest Hawaii Kai development lives up to it's name. With 193 fee simple custom home sites, of which nearly half have already support million dollar homes, this elite residential community rises from 400 feet to 700 feet above sea level providing a colorful panorama of vistas from Sandy Beach, out to Molokai. And from Koko Head crater sweeping all the way to Diamond Head. Na Pali Haweo is also amid all the expected conveniences and amenities provided in Hawaii Kai's beaches, parks, shopping centers, and a bounty of recreational facilities including golf courses and 260 acre acres of waterways with ocean access. Plus, of course, fine schools, churches, medical facilities, retirement homes and public transportation.
Located on windward side of Oahu, just 20 minutes to downtown Honolulu lays perhaps the best 4 mile stretch of beach anywhere in the world. Beachfront homes along this picturesque coastline are blessed with cool trade winds, the scent of Hawaiian tropical foliage and views of the Mokulua Islands as well as the majestic Koolau mountain range. There are approximately 225 Oceanfront homes along the Kailua/Lanikai Beach. With the demand for beachfront properties increasing so goes the price. Many of Oahu's most spectacular homes are located along these shores. Even many of the off-water locations offer such gorgeous views that they easily fall into the million dollar plus range. Far from the crowds of Waikiki both Lanikai and Kailua Beach are a place for the young at heart with swimming, windsurfing, sailing, kayaking, golfing, biking or roller blading. The Lanikai Beach park, situated in the heart of Lanikai also provides playground equipment, basketball hoops, and a lawn area large enough for a baseball or soccer game.

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