POIPU, Hawaii--(BUSINESS WIRE)--The only remaining undeveloped oceanfront land along the iconic Poipu Beach coastline on the island of Kaua‛i is back on the market. This rare 13-acre property overlooking the majestic rock cliffs of Makahū‛ena Point is listed at $20 million with Hannah Sirois of Elite Pacific Properties.
The site boasts 10 fully subdivided lots with infrastructure in place and provides capacity for a developer to control precious frontage ideally suited for 1+ acre oceanfront and ocean view homesites, or a single 13-acre estate for the high net worth family seeking privacy.
“This property is particularly well suited to someone who wants flexibility and the ability to control multiple homesites to meet their needs, perhaps a family or group of friends looking to build a single large luxury home or several residences on generous, multi-acre sites,” said Chad Nugent, President of CIRI Land Development Company.
“There’s also an opportunity for owners looking for vacation rental revenue – 9 of the 10 lots are zoned for vacation renting,” added Listing Agent Hannah Sirois of Elite Pacific Properties.
“We’ve seen land sales outpace residential properties by a wide margin on Kauai this year – interested buyers will need to move fast,” said Sirois.
At the 2019 midpoint, despite the lack of varied financing options, land sales show a year-over-year near double digit increase fed by a spike in Designated Opportunity Zone closings on the southshore, according to Sirois.
Makahū‛ena Estates is the first newly constructed seafront subdivision offered for purchase in Poipu since 1950. Acquired from the U.S. Government in 1996 by CIRI Land Development Company (CLDC), a subsidiary of Cook Inlet Region Inc., an Alaskan Native regional corporation, and left untouched until 2017, Makahū‛ena Estates has been responsibly developed with sensitivity to the local community and environment.
“There is no other property like this on Kauai or indeed Hawaii, and there won’t be in the foreseeable future,” said Nugent. “It’s a totally unique piece of land that CLDC is seeking just the right buyer for -- someone who appreciates the exceptional opportunity the area presents as a single estate or cohesive multi-parcel development,” said Nugent.
Located in the Poipu resort area, a short walk to several luxury hotels, Makahū‛ena Estates is ideal for home buyers looking for a secluded location imbued with Kaua’i’s natural beauty and attention to sustainability.
Originally platted for 25 single family lots, CLDC, in accordance with its commitment to environment and community-sensitive development, worked with the County of Kaua‘i to downsize the number of lots to just 10, averaging one acre in size.
All beaches in Hawaii are public. The front of the development includes a publicly accessible coastal path that connects to adjacent beach and sand dunes paths.
About Hannah Sirois: https://www.kauaihp.com/the-team/
About Elite Pacific Properties: https://www.elitepacific.com/about/
About CLDC: http://www.ciri.com/our-corporation/