2455 S KIHEI Rd $14,900,000

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    2455 S KIHEI Rd Kihei, HI 96753

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    $14,900,000

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    • 8.50 Acres
    • Vacant Land
    • MLS# 382951
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    Views: 95 Days On Market: 378

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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

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

    Market Last 30 Days In This Postal Code

    $0 Median Sales Price
    0 Homes Sold
    76 New On Market

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        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $14,900,000
        5/20/2019 5:58:00 PM New in Database Source

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        **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        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.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.

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