2455 S KIHEI Rd $14,900,000

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    2455 S KIHEI Rd Kihei, HI 96753

    • 8.50 Acres
    • Vacant Land
    MLS# 382951 | PENDING - CONT. TO SHOW

    $14,900,000

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    Days On Market: 122 0 Views
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    Property Details

    This is the former KAMAOLE GRAND 217 unit luxury condo development and near shovel ready. $6,200,000 has been spent on infrastructure including sewers, fire protection, three huge water meters, grading(needs to be regraded)and preliminary drawings but the current infrastructure is for the old 78 unit Aloha Village condominiums and incompatible with the current 217 unit plan. SMA is in place and ACTIVE. The North-South Collector road is in and finished. Final construction drawings are needed. This is a bank owned property. The property is zoned Hotel but designated multi-family in the Community Plan and that is cast in concrete. Short term rentals are NOT possible. All toll, there is not less than $15,000,000 spent on this property. There is also a water well for irrigation. Ingress/egress is from the North South Collector road. Right hand turn only onto Kihei road when exiting the property. Gentle slope to the top. Ocean views half way up and all the way from the top floors. Hundreds of thousands of dollars have been spent on architectural, planning, permitting, archeological, interest on loans for the past 11 years. If you have a developer who is capable of a project of this magnitude the pro formas will show the profit potential for this incredible development. The DROP BOX link is comprehensive. POF required and a letter of financial capability essential from the bank or financial institution, REIT, pension fund, insurance company funding the development. The price of the condos can be whatever the market will bear.

    • General Features
      • Land Tenure Fee Simple
      • District Kihei
      • City Kihei
      • Water Front Across Street from Ocean
      • View Ocean
      • Potential Short Sale No
      • REO Yes
    • Property Features
      • Water to Site County Water Meter Ins
      • Land SQFT 370,260
      • Land Acres 8.5

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    Neighborhood

    96753 (Kihei) Demographics

    41Median Age
    854Population Density (per sq. mile)
    40%College Educated
    $68,655 Estimated Median Income
    5,671Estimated Total Home Owners
    5,161Estimated Total Renters
    52% / 48%Estimated Owner / Renter Divide
    3Estimated Average Household Size
    27,855Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days

    $305,000 Median Sales Price
    1 Homes Sold
    68 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $14,900,000
        7/9/2019 11:58:07 PM Status Changed Source New Value: PENDING - CONT. TO SHOW
        6/7/2019 9:58:10 AM Status Changed Source New Value: ACTIVE
        6/5/2019 11:58:03 PM Status Changed Source New Value: CNTNGNT ESCROW CANCELING
        5/31/2019 3:58:07 PM Status Changed Source New Value: PENDING - CONT. TO SHOW
        5/20/2019 5:58:00 PM New in Database Source

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        This information is believed to be accurate. It has been provided by sources other than the Realtors Assoc. of Maui and should not be relied upon without independent verification. You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Featured properties may or may not be listed by the office/agent presenting this brochure.

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        Cheryl Dillon, RB-18551, James W. Wright, RB-16206, 1-800-735-2100