Kailua Kona Real Estate: Hawaii Oceanfront Land Update

There have been two oceanfront sales in Kailua Kona over the past seven months. One in Ke Aloha Kai, and the other in Alii Point. These are both, oceanfront subdivisions, located immediately off of Alii Drive in Kailua Kona. Click here to see oceanfront SOLD information.

Currently in Kona – there are 8 oceanfront land offerings, varying in price from $1,000,000 to  $20,000,000.

Current Kailua Kona Oceanfront Land Offerings

My Seller just recently reduced his oceanfront land offering $200,000!

This is a fantastic NEW price for one of the few oceanfront lots left in Kailua Kona, located in Kona Bay Estates!

16,972 sq. ft. of ocean front beauty, await the construction of your dream estate in the elegant Kona Bay Estates community. With direct access to the blue pacific and a family friendly beach in the subdivision – residents have it all in Kona Bay!

75-5446 Kona Bay Drive I MLS  275411  I $975,000

Residences For Sale Currently In Kona Bay Estates

Oceanfront parcels in Kona Bay Estates are almost completely built out, this is one the last opportunities to construct the oceanfront residence you’ve always dreamed of.

Kona Bay Estates is a mature, exquisite ocean front community that provides 24/7 security and represents the truly exceptional Kona lifestyle.

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Love this parcel and would like further information on this great offering? I have current building design guidelines and rules of the subdivision on hand – feel free to get in touch for more information!

Buying Now: How Interest Rate Increases Affect YOU

“Interest rates are at historic lows right now!”  I’m sure you’ve heard it, but how do interest rates affect you and your purchase?

Interest rates affect your monthly payment, and the amount you will have paid by the time your loan is paid off.

Minute increases in interest rates directly affect the amount a buyer ends up paying in the short and long-term.

Let’s run some numbers to better illustrate.

We have found your dream property, at your price point of $500,000.

The interest rate on your $500,000 dream home is 3.875%. For a 30 year, conventional mortgage you can expect your monthly principal and interest (P&I) payment to be  $2351  By the time the loan has been paid off, you will have paid $1,595,967.

But, you just aren’t certain. Prices have been going down, and you want to wait a week or two, see if the sellers reduce their price. What does waiting a week or two hurt, right? 

Unfortunately, when you next look at this purchase, interest rates have gone up. Now, the best rate you can get is 4.25%, and increase of .375%.

Your same property, now at 4.25%, is costing you  $2460 per month. Principal and interest payment has increased by $109.

Along with that the total amount paid on the loan which previously was $1,595,967 has now increased to $1,785,325, a difference of $189,357 over the life of the loan. Wow. 

The chart below illustrates how changes in rates will continue to affect you, at different percentages. 

Value     Int Rate         Term             P&I Payment        Total Paid                Difference

500K        3.875%         30 year           $2351.19             $1,595,967            From 3.875%

500K        4.00%           30 year           $2387.08             $1,656,749           $72.62/60,781

500K        4.25%           30 year           $2459.70             $1,785,325           $108.51/189,357

500K        4.50%           30 year           $2533.43             $1,923,849           $182.24/327,882

The question you should be asking yourself is, do you forecast the market dropping far enough to cancel out an increase in interest rates? Or are you ok paying an additional $70-$180, or more a month, to continue waiting on your purchase?

Interest rates are at historic lows right now make sure you take advantage of them!

Oceanfront Parcel In Kona Bay Estates Available For Purchase!

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Beautiful Kona Bay Estates in sunny West Hawaii is now home to a spectacular offering!

Previously offered together with its sister property to the North at the price of $3,000,000 this parcel is now on the market singularly, as  Lot #40, MLS 266227 available for purchase at $1,350,000! To give you an idea of how competitive this pricing is, a few years back this same parcel was being offered for $1,615,000!

Of the VERY few prime ocean front lots available in Kona, this is hands down the BEST! Lot #40 offers 16,972 sq ft of Kailua-Kona beauty, awaiting the construction of your dream estate in the dazzling Kona Bay Estates community.

Prospective buyers will appreciate that the seller has a shoreline certification and topographic map for the parcel already completed. Kona Bay Estates building guidelines along with covenants, conditions and restrictions (CC&Rs) of the subdivision are also available at their request.

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Kona Bay Estates is a mature, private, gated, ocean front community that provides 24/7 roaming security and represents the truly exquisite Kona lifestyle.

This is a great opportunity to purchase oceanfront in West Hawaii. Contact Marco directly to make an appointment to see this parcel!

 

*Co-listor of property is owner and has an active Hawaii real estate Broker’s license.

West Hawaii Oceanfront: Kona Bay Estates 2 Parcel Offering

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My listing at 75-5444 Kona Bay Drive offers contiguous oceanfront parcels, TMK numbers   3-7-5-5-40 & 3-7-5-5-41 together for purchase! 
Live in your airy 3bed/3bath deluxe beach cottage that boasts ocean views from every room, while building the estate property you’ve always dreamed of next door (Lot #40)! Together these parcels combine for over half an acre of oceanfront living!

Lot #40 offers you 16,972 sq. ft. of prime ocean front property that is hands down one of, if not THE BEST parcels on the market!

Kona Bay Estates is a mature, private, gated, ocean front community that provides 24/7 roaming security, direct beach access & represents the truly exquisite Kona lifestyle.

Enjoy ocean front living at it’s finest in Kona Bay Estates!