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 not driveable but walkable. The road was built without a permit so in order to improve it it will require an engineering plan to get it permitted. 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 $1,800,000 ." Multiple building sites above and below. Great equestrian property, or a fabulous retreat for a corporation 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. The contact on the website is not Waiehu Aina. IT'S ME AND ONLY ME. This land feels like Hana but only 5-8 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.
West End view lot in the well-kept community of North Maunaloa Village. Neighborhood is conveniently located close to Airport and about 30 minutes from main town of Kaunakakai on Molokai. Build your dream home on this lot!
This property is listed by RE/MAX Island Properties, LLC
One of the last, if not the last, large development parcels for 217 upscale condominiums across the street from two fabulous beach parks. This location is in the very heart of the "GOLD COAST" of Kihei surrounded by numerous restaurants, boutiques, shops, service related businesses, Maui Medical Group, Hawaiian Moons Natural Foods grocery store, ABC, store, specialty discount liquor store, nail and beauty salons and so much more. LOCATION, LOCATION, LOCATION. The best weather on the planet. The major Special Area Management (SMA) permit was recently extended for three more years as of late June 2020 and the transfer to a new entity was also approved. This project is approximately 6-9 months from "shovel ready." The construction drawings need to be completed and approved at the county. $6,200,000.00 has been spent on the infrastructure for the prior 78 unit project called Aloha Village. Sewers, fire hydrants, water well, water meters, et al are in the ground. Some modifications will need to be done. The property was graded. The North-South Collector road is complete at a cost of many millions of dollars and will serve as the main ingress/egress for the property. Limited ingress/egress from Kihei road once the development is finished. The prior borrower defaulted on the loan and failed to cure the default. This is NOT a foreclosed property but the Lender does have 100% control. There is an ALTA policy from 2019. Upon Proof of Funds the Buyer will be given access to the Drop Box and the extensive documentation. The last MAI appraisal was for $27,500,000. At $14,900,000 the Lender is seeking to recover the principal owed. There is NO new product anywhere in south Maui this close to the beach with these amenities and quality of construction. All the condos/apartments are 40 feet wide and modeled after the luxury Honua Kai condos in Ka'anapali. There are 7 buildings with 31 units per building and two (2) phases. Phase 1 consists of buildings 2 & 4 with 62 units. Phase two consists of five (5) buildings with 155 units for a total of 217 units. There are 424 parking spaces on 8.4 acres of fee simple land. 25.83 units per acre. The projected gross sales revenue in 2017 was $161,056,000 as follows: Unit Type 1. One bedroom with 760 SF. 63 units at an average of $625,000 with 47,880 SF = $39,375,000. Unit Type 2A. Two bedroom with 1,058 SF. 126 units @ $760,000=$95,760,000. 133,308 SF. Unit Type 2B. Two bedroom with 1,100 SF. 21 units @ $790,000=$16,590,000. 23,100 SF. Unit Type 3. Three bedroom with 1,265 SF. 7 units @ $840,000=$5,880,000. 8,855 SF. Revenue from 119 covered parking places = $3,451,000. 213,143 total square feet.
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