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.
LENDER LIQUIDATION- This most amazing, incredible, mind blowing piece of land on Maui. Of course all of Maui is amazing but if you are looking for drop dead, jaw dropping OMG I can't believe what I am seeing type of views then look no further than this property. Two year round streams, an irrigation ditch (ala wai) that runs through the property for all your farming needs, a several acre reservoir #29 that used to be filled with water, old forests with fern meadows next to the stream. A small mountain is on the property and a road has been built to the top and several acres of forest have been cleared and cane grass has taken its place. Road right now is impassable but walkable. The county does not require a building permit for structures up to 200 SF. If you haven't heard of GLAMPING then google it. This could open up a world of possibilities by having glamping tents on platforms with big decks all along the stream which has hundreds and hundreds of feet of frontage on both streams. Great for a corporate or spiritual retreat. The main house can be the lodge on the top of the mountain. No limit on square footage. Build a 1000 SF cottage with huge decks and build a barn(s). Do a CPR and divide the lake property from the mountain property. Possibilities are many. The 2014 APPRAISED VALUE was $2,450,000 and is one of the "Assoc docs." The loan amount is $1,500,000 but the lender says "bring me any and all offers and let me look at them." Multiple building sites above and below. Great equestrian property, or a fabulous retreat for a corportation to do its own not for profit glamping retreat. There is so much free water you can create ponds for ducks or watering holes for the horses and livestock. Raise goats to keep the weeds under control. Grow coffee or anything that grows. No sub-division is possible except a CPR into two lots. If you know how a website begins and ends then go to waiolaowaiehu for an aerial and ground tour when we first cleared the land. This land feels like Hana but only 7-8 minutes to Kahului and Wailuku. This is a County of Maui lot determination #29. It does not yet have its own TMK. That is available upon application. Once you have the TMK you can apply for a water meter but catchment water is also abundant in Waiehu Valley. There have only been three owners since the King. Wailuku Agribusiness bought all the land in the valley in 1891 and kept it for 108 years. The next owner bought all those lands in 2000 and now the Lender owns the property so this is a once in a lifetime opportunity to own such a large piece of land for such a small price. 24 hour notice required along with Proof of Funds. No showing without that. It takes nearly 2 hours to view this property. Wear walking shoes, long pants, hat and sunscreen.
This property is listed by eXp Realty
Joline L. Dorner R(S) 29732
Hawaii Life Real Estate Brokers
Christie’s International Real Estate
Who’s Who Hawaii Real Estate
Top 100 for 2008
Cell 808 276 9015
Office 808 667 5028
Jo Dorner, R(S)
500 Bay Drive
Lahaina, HI 96767