Ka Nehe Place, Estate of the Day

by Deidre Woollard (RSS feed)
Jan 6th 2010 at 1:01PM

The news media has been buzzing about the upcoming auction of a Hawaiian home owned by Cher that is being sold later this month. But Cher's house isn't the only home up for sale. Also part of the January 18 sale from Concierge Auctions is today's estate in the Kuki'o Golf and Beach Club and Residences. This home is being sold absolute, without a minimum bid or reserve. The home at 72-3209 Ka Nehe Place in Kuki'o was designed and furnished by its owner, architect and interior designer Jennifer Day. It was previously offered for $8.45 million and has expansive ocean views. The approximately 8,500-square-foot home has 20 rooms and seven lanais for appreciating Hawaii's balmy weather. The property includes a saltwater pool and spa on the rear lawn. It is selling fully furnished, complete with custom artwork and accessories, just bring your suitcase and settle in. Kuki'o is the only private equity Golf and Beach Club on the Big Island of Hawaii. The Beach Club includes a full service clubhouse, spa and fitness facilities, beach bar, a 10-hole Tom Fazio-designed short course,a 18-hole Tom Fazio-designed championship golf course and the Kuk'io Golf Clubhouse.

Gallery: Ka Nehe Place

Tags: estate of the day, EstateOfTheDay, hawaii, kukio golf and beach club, KukioGolfAndBeachClub, real estate auction, RealEstateAuction

Filed under: Estates

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Reader Comments (Page 1 of 1)

Eric Jan 6th 2010 1:37PM

Any one know what that spout is in the kitchen next to the glass topped rice cooker (or deep fat fryer or slow cooker, or whatever THAT is, lol)?

Deidre: What do you think this one will go for at auction?

m Jan 6th 2010 2:14PM

its a gaggenau vl051 telescopic swivel downdraft...translation, fancy mini disappearing vent hood. pretty usless and the remote blower to make it work is HUGE and loud

Goto98 Jan 6th 2010 1:59PM

Eric,

That would be the exhaust or ventellation for the stove top. You can see there is not a normal ventellation, and so this kitchen replaces that (like many without the 'hood') where it actually acts as a vacum, and can be tucked away when not in use.

brad Jan 6th 2010 2:26PM

This is a nice house with nice interior design, I hate the houses/condos in tropical/subtropical locations that have those stupid floral patterns throughout the house that makes it seem like a hotel, which its not.

T. Leeflang Jan 6th 2010 3:45PM

It's...interesting. Definitely catering to a market with a unique sense of style. I honestly can't decide whether I like it or not.

DJ Jan 6th 2010 4:45PM

The listing info states it was previously offered at $8.45M. Given that Hawaii is still a decent market and auctions usually produce discounts of 10 to 15%, it should sell for around $7M+. However, it depends on the true value of the house minus furnishings. That could also lower the final price in an auction.

Spectacular Bid Jan 7th 2010 12:56PM

I was in Hawaii for Christmas, albeit on Maui, and speaking to a few folks with higher end properties the market is still depressed there too. Tourism is sharply down and foreclosures are just as common there as the rest of the mainland. The old days of luxury Hawaiian homes being snapped up by foreign buyers and with it propped up rates are gone. There is a glut of high end homes on the market not to mention luxury condos.

The Maui Land Company [significantly owned by AOL founder Steve Case] is on the verge of collapse and with it their assorted Kapalua entities.

Property taxes, unlike the high cost of living there, are exceptionally low compared to say California and the economy will rebound. While this is on a golf course it's not on the water, which is a negative, and the unconventional taste/layout really narrows down the interest in buyers.

This home likely will get bought up as a mere long term investment but only with a cash flush buyer and they're still expecting a deal. As such I doubt it will fetch above $5.0M.