Hawai’i’s Hualālai Resort Completes Parcel Sale, Bringing Year-to-Date Closings to $100 Million

Planned Development of 21 Homes Will Help Meet Demand For New Inventory

KAILUA KONA, Hawaii--()--Hualālai Resort, the award-winning residential resort community on the North Kona Kohala Coast of Hawai`i Island and home to Four Seasons Resort Hualālai, today announced the sale of a 6.6-acre parcel in the latest of a series of sales to a private investor and developer, an existing member at Hualālai Resort. This sale, together with five lots previously purchased by this investor, will enable Hualālai Realty to bring 17 new homes to market in the next two to three years. Construction has also begun on the first of four lots purchased by Ecoasis, a Vancouver-based development company, which will provide four additional new homes to Hualālai.

“These developers realize that the breadth of the amenities at Hualālai, including the Four Seasons Hualālai and the Hualālai Club, are unmatched at any resort property, and this package supports their substantial investment in their land purchase and construction of new homes,” said Pat Fitzgerald, Chief Executive Officer, Hualālai Resort. “Our excellent sales team will work with these select developers to create a successful project at Hualālai.”

The 21 planned homes will be offered in a variety of elevations and floor plans, priced from $5 million to $9 million. Construction on the first three homes has begun, with sales expected to begin in late 2014.

“We are excited to have this new construction underway to meet the continued demand of our customers,” said Rob Kildow, Director of Residential Sales, Hualālai Realty.

This new development at Hualālai follows an exceptional 18 months for residential real estate sales at the resort. In the first six months of 2014, total sales exceeded $101 million and the average home price was $9.7 million, a $2 million increase over the average price of $7.7 million in 2013, demonstrating a continued rise in the value of homes at Hualālai Resort.

Hualālai Resort – Hualālai Resort is a residential resort community located on the North Kona Kohala coast of the Hawai`i Island. Embracing Hawaiian traditions and aloha spirit, the Resort features state-of-the-art facilities, programming and amenities. Real estate opportunities include custom homes, home sites and villas. Hualālai Club Membership is available exclusively to property owners and offers access to two 18-hole championship golf courses designed by legends of the game, Jack Nicklaus and Tom Weiskopf, each with its own clubhouse; the award-winning Hualālai Sports Club & Hualālai Spa; the Canoe Club, host to the member-only annual regatta in August; the Hualālai Tennis Club; and the oceanfront Residents' Beach House. Membership also provides access to all amenities at Four Seasons Resort Hualālai, including the beach and pools. Real estate prices range from $2 million to $26 million. For more information about Hualālai Resort visit www.hualalairesort.com or www.hualalairealty.com.

Contacts

Murphy O’Brien, Inc.
Brooke Badger, 310-453-2539
bbadger@murphyobrien.com
or
Stacy Lewis, 310-453-2539

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Contacts

Murphy O’Brien, Inc.
Brooke Badger, 310-453-2539
bbadger@murphyobrien.com
or
Stacy Lewis, 310-453-2539