Major Real Estate Auction Planned For Hawaii

by Deidre Woollard (RSS feed)
Dec 8th 2010 at 5:02AM

A major auction was announced recently for 11 premier condominium homes and three oceanview homesites located on the Hawaiian island of Lana'i, owned by Castle & Cooke, David H. Murdock's real estate company (who also happens to be the owner of Dole Food Co., Inc.). Lana'i is home to many high-end developments and these properties are located across four private ones. The sale will be held on January 16 at a Southern California location and opening bids will range from $435,000 to $845,000, which are up to 68 percent below previous asking prices.

Accelerated Marketing Partners (AMP) will conduct the auction for the homes which represent more than $20.5 million worth of real estate. The residences and homesites being offered at the January 16 sale are located within private Lana'i developments in Oceanside Manele and Upcountry Ko'ele. Each area offers attractions, ranging from scuba diving and whale watching, to horseback riding, a world-class sporting clay venue and archery. All homes are available for immediate occupancy.

A two-bedroom home at The Terraces, oceanside at Manele has ocean views and overlooks Jack Nicklaus' Challenge at Manele golf course. It has an opening bid of $695,000, which is 54 percent below its previous asking price of $1.5 million.

There are four three-bedroom homes up for bid at The Palms at Manele. The homes are approximately 2,835 sq. ft. and feature private-entry courtyards, deluxe kitchens and large master suites. The Palms face the 18th fairway of Challenge at Manele golf course and provide panoramic views of the Pacific Ocean and outer islands. These residences have opening bids of $845,000, which are up to 68 percent below previous asking prices that ranged from $2.525 million to $2.675 million.

There are three homesites at the Pu'upehe Estates ranging in size from approximately 25,351 sq. ft. to 28,836 sq. ft. The Pu'upehe Estates feature 180-degree panoramic ocean vistas from Pu'upehe Rock in the southeast to the Pacific horizon in the southwest. These homesites have opening bids that range from $550,000 to $650,000 and are up to 50 percent below previous asking prices from $1.1 million to $1.375 million.

A total of six two-to-four-bedroom detached condominium homes at The Pines at Koele will be sold. The homes have large great rooms, gourmet kitchens, indoor/outdoor gas fireplaces, and attached garages. The Pines boast mountain and valley views of the Ko'ele highlands, and overlook The Experience at Ko'ele golf course. All six homes range in size from 1,630 sq. ft. to 2,166 sq. ft. and have opening bids from $435,000 to $465,000, which are up to 52 percent below previous asking prices, ranging from $750,000 to $965,000.

Tags: hawaii, hawaii real estate, hawaii real estate auction, real estate, real estate auction