Kapalua, Maui - Fabulous Estate on the market at Plantation Estates

Kapalua, Maui

197 Plantation Estates, a fabulous home across the street from the ocean, just came on the market at an attractive price of $4,295,000.

This elegant home sits on a prime 2-acre lot with beautiful views of Molokai and the ocean, showcasing waves and whitewater breaking on Makaluapuna Point and Dragon Teeth. It also offers a first class seat on the 2nd fairway of the Plantation Course. Access through its private gate, the estate is perfectly located at the entrance of Plantation Estates and just minutes walk away from Fleming Beach. Click here for more information

Maui, HI - Lipoa Point officially conveyed to the state

BY LOUISE ROCKETT , Lahaina News

WEST MAUI - "Now, therefore, I, Shan S. Tsutsui, acting governor of the State of Hawaii, do hereby proclaim October 9, 2014, as Lipoa Point Day in Hawaii."

This was a proclamation heard around the world.

Congratulations and celebrate, West Maui - a miracle has happened.

It's official. Maui Land & Pineapple Co. Inc. has conveyed approximately 250 coastal acres stretching along the rugged northwest shoreline from Honolua to Honokohau to the State of Hawaii for $19.5 million.

"It's huge. This is the realization of a dream that everybody had," beamed a very proud State Rep. Angus McKelvey.

State Sen. Roz Baker was equally pleased.

"This acquisition action, which culminates today, will ensure the protection and preservation of one of the most iconic landmarks in Hawaii while securing pension benefits for 1,600 retirees of the former Maui Land and Pineapple Inc. (MLP). This was all made possible with the passage of Act 241, which the Maui delegation and our colleagues at the legislature strongly supported.

"These lands hold important historical and archaeological sites and sits above a nationally recognized marine reserve. I am proud of the work that we have done to preserve these lands for our future generations to experience and enjoy, and that the funding set aside by this act goes to preserve pension benefits for many MLP and International Longshore & Warehouse Union retirees," Baker observed.

The road to preservation was not always clear.

In 2007, in response to the threat of the development of 40 homes and a golf course along the pristine shoreline, the powerful Save Honolua Coalition (SHC) was formed, and the march toward preservation began.

A groundswell of support came from all quarters - environmentalists, surfers, students, marine biologists, snorkelers, legislators and open space advocates.

Honolua Bay is a world-class surf spot and federal marine preserve.

Petitions were signed, placards were waved, bumper stickers and T-shirts were made and hours upon hours of testimony were heard.

All along, the message was loud and clear; and our county and state elected government representatives heard the collective plea: Save Honolua!

The county acted first, kick-starting preservation efforts in 2008 with a $1 million appropriation.

Our state lawmakers responded in 2013 with House Bill 1424, introduced by Representatives McKelvey, Mele Carroll, Kaniela Ing, Joe Souki, Kyle Yamashita and Justin Woodson.

It was signed into law (Act 241) by Gov. Neil Abercrombie mid-2013 in Wailea. Read more...

Aina Haina Parcel Sold for $13.5M - Singapore Entity Represented by Choi International, the Christie's International Real Estate Affiliate in Honolulu

Bill Cresenzo

Reporter-

Pacific Business News

Honolulu, Hawaii - A Singapore entity has purchased 2.6 acres of oceanfront property in Aina Haina from the Outrigger Canoe Club for $13.5 million.

The property at 5415 and 5345 Kalanianaole Highway contains a "cozy" five-bedroom home, said Patricia Choi of Choi International. The property was bought by Boon Han Holdings PTE. Choi said that the property could be developed or remain as is.

Maggie Huang, vice president of Choi International, represented the buyer.

The two parcels were previously listed for $16.3 million.

The Waikiki-based Outrigger Canoe Club, which had a deal to sell two parcels adjacent to Kawaikui Beach Park at the foot of Hawaii Loa Ridge to an Idaho-based nursing home and rehabilitation center operator that fell through earlier this year, paid $13.2 million to buy the property from a Japan-based entity in 2008.  Read more...

Maui home prices jump 21% in July on modest sales increase

Bill Cresenzo

Reporter-Pacific Business News

Email

The median price of a single-family home on Maui rose 21 percent in July on a modest increase in sales, while the median price of a condominium increased by 8 percent despite a 27 percent drop in sales, according to statistics released by the Realtors Association of Maui.

The median price of a single-family home in Maui County last month was $573,750, a 20.8 percent increase from $475,000 in July 2013, according to the Realtors Association of Maui.

That was based on sales of 98 homes, including two on Lanai and one on Molokai, which was 5 percent more than the 93 homes sold in July 2013.

The median price for a condo rose 8.4 percent to $387,500, from $357,625 in July 2013. However, sales dropped 26.8 percent to 82 units sold in July, from 112 condos sold in July 2013.

Maui Land & Pineapple Reports 2nd Quarter 2014 Results

KAPALUA RESORT, Hawaii, Jul 29, 2014 (BUSINESS WIRE) -- Maui Land & Pineapple Company, Inc. MLP +0.68% reported net income of $477,000, or $0.03 per share, for the second quarter of 2014, compared to net income of $831,000, or $0.04 per share for the second quarter of 2013. The Company reported revenues of $5.0 million and $2.6 million during the second quarters of 2014 and 2013, respectively.

In May 2014, the Company sold a 4-acre parcel and building that serves as the maintenance facility for the Kapalua Plantation Golf Course for $2.3 million. The sale resulted in a gain of $1.5 million.

In June 2013, the Company sold a 7-acre parcel that was the last of its former agricultural processing facilities in central Maui for $4.0 million. The sale resulted in a gain of $1.9 million.

For the six months ended June 30, 2014, the Company reported a net loss of $432,000, or $(0.02) per share, compared to a net loss of $984,000, or $(0.05) per share, for the six months ended June 30, 2013. The Company reported revenues of $7.5 million and $5.2 million during the six months ended June 30, 2014 and 2013, respectively.

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Montage Kapalua Opens on Maui, Hawaii

Luxury Travel Magazine

Golf Travel - Montage Kapalua Bay Opens in Maui, Hawaii

Montage Hotels & Resorts announces the grand opening of Montage Kapalua Bay, spanning 24 acres above picturesque Kapalua Bay, on the northwest coast of Maui.

Following a $15 million renovation of the former Residences at Kapalua Bay, the new all-suite resort is a private oceanfront escape with an emphasis on comfortable luxury, gracious service, memorable experiences and regionally inspired dining, all in an immersive Hawaiian setting.

Guest Suites 

Montage Kapalua Bay offers 50 luxurious residential-style suites, ranging from one to four bedrooms, to accommodate all types of travelers with the comforts of home. Montage Kapalua Bay also offers 54 Montage branded residences for purchase. Each room features large "lanais" (balconies), offering a panoramic view of the Pacific Ocean and neighboring islands. Guestrooms include a new, sleek color palette and furnishings, including day beds on the balconies, creating a flowing indoor and outdoor entertainment space. Suites are also equipped with full gourmet kitchens to prepare meals or where Montage chefs may prepare dinner for guests. Other comforts of home include signature Montage bedding, a spacious living area including a sectional sofa with an additional bed and a washer and dryer. Bringing a touch of the authenticity of the island into the experience, each guest suite will feature an original piece of hand-painted local artwork.

New Signature Dining Experiences

Montage Kapalua Bay's signature restaurant, Cane & Canoe, is reminiscent of a traditional Hawaiian canoe house, where locals and artisans would socialize, make sails, shave wood and weave baskets. In this historically rich setting, travelers and locals may dine together, savoring diversely influenced cultural cuisine under the direction of executive chef Riko Bartolome. 

The restaurant's interiors honor the Hawaiian culture with a comfortable, communal atmosphere with wood scrollwork, woven textures and vibrant floral touches. This homage to the past is captivatingly juxtaposed with the gifts of modern luxury, including sophisticated sofa banquettes and most importantly, a contemporary approach to cuisine, showcasing fresh, local ingredients. 

For a more casual dining experience, the outdoor Sunset Patio offers an all-day menu suited for leisurely poolside dining. The adjacent Hana Hou bar will also serve as the perfect gathering spot to end the day and take in the Hawaiian sunset. 

At the new Mahana Market, guests may purchase an array of Hawaiian gourmet goods. Open daily, guests may select from an assortment of "gourmet to go" prepared, local organic foods and curated wines. 

Health & Wellness 

Spa Montage Kapalua Bay, designed with inspiration from the mountains and ocean to create a peaceful surrounding with natural materials, is a 30,000 sq. ft. tropical wellness oasis with indigenous plants and immaculate design elements. Within this space, guests may experience all of the components that contribute to a balanced and healthy lifestyle in Hawaii, customarily known as "pono."

Every service is personalized, authentic, and evidence-based. The highly educated therapists aim to exceed guests' expectations by connecting guests to the island's surroundings, utilizing indigenous ingredients.

An expansive fitness center and wellness program complements the spa therapies, introducing the benefits of movement to enrich experiences from the inside and out. Highlights include circuit training machines, the Kinesis System, free weights and a full range of cardio equipment. A robust assortment of fitness classes in the ocean view movement studio caters toguests of all fitness levels, with oceanfront fitness classes also available.

More on Travel Magazine...

Grand Scale Living on 4.5 Acres by Renowned Designers Diamond and Baratta

Classical architecture and grand modern living at its best

New Canaan, Connecticut – Set atop the crest of a ridge on 4.5 open acres, Grand Stone and Shingle Estate makes an immediate impact with its breezy elegance and beautifully proportioned living space. This elegant home, with more than 10,000 square feet on four levels and two wings, is marketed by Christie’s International Real Estate and its exclusive affiliate Barbara Cleary’s Realty Guild for $9.5 million.

With classical architectural elegance and eye-catching interiors by renowned designers William Diamond and Anthony Baratta, this spirited home embodies stylish living at its very best. Lacquered double doors lead to the entry hall, welcoming visitors to a world of gracious rooms bathed in natural light.

Spacious formal and informal rooms lead seamlessly to outdoor spaces and porches overlooking this sweeping property. Four floors and two wings include family rooms on each floor, a distinctive master suite, and beautiful open hallways offering space and privacy between six additional en suite bedrooms.

There are seven bedrooms, nine full baths, seven fireplaces, a four-car garage and a large house generator. A covered exterior porch with fireplace serves as an outdoor room surrounded by stone terraces and gardens, a large heated pool, spa, and a grilling station.

The large kitchen is a chef's paradise with double islands and every amenity at one's fingertips. This gathering place holds a crowd and makes entertaining fun. The 3,000 sq. ft. finished lower level is a complete entertainment center that includes a kitchen, billiard room, family room, exercise room with sauna, and wood paneled home theatre.

“This estate exemplifies grand architectural, elegant interior design and beautiful living,” says Kathleen Coumou, Christie’s International Real Estate Senior Vice President of the Northeast Region. “This extraordinary property is the pinnacle of Connecticut living, located in one of the most sough-after towns in the state.”

“We’re thrilled to represent such an incredible property,” said Leslie Razook, listing broker with Barbara Cleary’s Realty Guild. “The home’s wonderful setting affords an ideal opportunity to find comfort and relaxation in the wonderful town of New Canaan.”

First Team Estates, the No. 1 independent real estate company in Southern California, joins Christie's International Real Estate

First Team Estates is the No. 1 independent real estate company in the region

ORANGE COUNTY, CA—Christie's International Real Estate, the world's leading luxury real estate network and a subsidiary of Christie’s auction house, has awarded Affiliate status to First Team Estates, a premiere real estate brokerage firm headquartered in Irvine, California.

Founded in 1975 by President and CEO Cameron Merage, First Team Estates is ranked as the No. 1 independent real estate company in Southern California and is widely recognized as one of the nation’s leading brokerages. From the coastline to desert resorts, First Team Estates and its family of companies boast 24 offices throughout Orange County and Southern California, catering to high-end buyers and sellers in more than 40 locations. Services include residential and commercial real estate, property management, title, escrow and mortgage operations.

By joining the Christie’s International Real Estate network, First Team Estates will exclusively represent the CIRE brand in Orange County, Naples and Belmont Shores. Wholly owned by Christie's, the world's leading art business, Christie's International Real Estate is represented in 44 countries. First Team Estates joins this carefully selected organization of brokerages, all of which boast proven records of success in both high-end property sales and exemplary client service.

“First Team Estates is a well-respected marketplace leader, and it is with great pride that I welcome the company to our network of Affiliates,” said Zackary Wright, Senior Vice President, Western Region Manager of Christie’s International Real Estate. "Offering a deep-seated knowledge of the area and an innovative approach to meeting the needs of its clients, First Team Estates provides the type of high-quality service and attention to detail that is synonymous with Christie’s International Real Estate.”

The Merage Family is known for its philanthropy and service to the community locally, nationally and internationally. “Our unwavering commitment to serving both client and community forms the foundation of our decades-long reputation for excellence,” added Cameron Merage, CEO of First Team Estates. “Drawing upon the international success of the Christie’s brand and combining it with the longstanding tradition of the Merage name and First Team Estates is a natural progression in our growth. We look forward to presenting our family of companies with enhanced offerings through our alignment with Christie’s International Real Estate.”

For additional information about Christie’s International Real Estate, please contact Michael Sherman at +1 212-974-4585, or visit www.christiesrealestate.com. For further information on First Team Estates and its listings, call +1 888-236-1943 or visit www.firstteamestates.com.

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About Christie’s International Real Estate
Christie’s International Real Estate is an invitation-only affiliate network composed of the world’s most proven and qualified real estate specialists in the luxury residential sector. The company has offices in London, New York, Hong Kong, Beverly Hills, Chicago, and Palm Beach, and approximately 136 global affiliates with 25,000 real estate professionals in more than 40 countries. For additional information about Christie’s International Real Estate, please visit www.christiesrealestate.com.

press@christiesrealestate.com

Atlantic Insights by Christie's International Real Estate

Wednesday, January 15, 2014

Atlantic Insights by Christie's International Real Estate

London, Miami and New York are highly sought-after destinations for both locals and overseas investors. While 2012 saw prices rebound significantly from the depths of the recession, 2013’s luxury market experienced rising sales volume and a drop in invent

Christie’s International Real Estate is initiating a series of market reports about the state of luxury real estate to complement our annual global market report – Luxury Defined, which will be published in the first quarter of 2014.

Our first quarterly update focuses on three major markets: London, Miami and New York, which are experiencing significant growth. While 2012 saw prices rebound significantly from the depths of the recession, 2013’s luxury market experienced rising sales volume and a drop in inventory.

London, Miami and New York are highly sought-after destinations for both locals and overseas investors. Foreign buyers had a significant presence in all three luxury markets in 2013, with domestic buyers’ activity equally strong. A combination of a growing number of wealthy individuals globally, including the rise of affluent younger buyers, played a role in boosting the luxury property markets in these destinations.

Economic stability, ease of doing business, transportation options, cultural and lifestyle services, have established London, New York and Miami as desirable places to live and buy homes. Since luxury home buyers are not often vulnerable to global economic conditions, all three markets are on track for continued growth in 2014.

Please access the full Atlantic Insights report here.

Field shaping up for 2014 Hyundai Tournament of Champions

December 19, 2013

Lahaina News

KAPALUA - Just two weeks remain before the 2014 Hyundai Tournament of Champions kicks off on The Plantation Course at Kapalua, and the field is shaping up quickly.

Three of the game's biggest names will be starting 2014 in West Maui, including Zach Johnson, Adam Scott and Webb Simpson.

Each player won an official PGA Tour event during the 2013 calendar year to qualify for the winners-only Hyundai Tournament of Champions.

Johnson

With a career total of ten PGA Tour wins, Johnson's recent success came at the 2013 BMW Championship.

Johnson is excited to kick off 2014 against a prestigious field.

"It obviously gets the year off to a really good start. To win with a really strong field, it means a lot. I think Hyundai does a great job with their event. I love coming over to Hawaii and playing in the golf tournament," he said in a recent interview.

Scott made history in April when he became the first Australian to win The Masters Tournament.

He won his major in dramatic fashion with a birdie on the second playoff hole to defeat Angel Cabrera.

Scott enjoyed additional success late in 2013 with another victory at the first FedExCup Playoffs event, The Barclays. He returned home to Australia, where he won the Australian PGA Championship and the Talisker Master, finished second to Rory McIlroy at the Emirates Australian Open, and placed third at the ISPS HANDA World Cup of Golf, where he and teammate Jason Day won the team competition.

The 2011 U.S. Open winner, Simpson recently picked up his fourth PGA Tour career victory at the 2014 Shriners Hospitals for Children Open.

This will be Simpson's third consecutive year playing in the Hyundai Tournament of Champions; his best finish was equal third in 2013. Read more...

Christie’s International Real Estate Strengthens Position In Hawaii with Addition of Honolulu-Based Affiliate

Choi International Joins Leading International Network of Real Estate Brokerages Specializing in the Marketing and Sale of High-Value Properties

Honolulu, HI—Christie's International Real Estate, the world's leading luxury real estate network and a subsidiary of Christie’s auction house, awarded Affiliate status to Choi International, a noted brokerage based in Honolulu.

Established more than 25 years ago, marketplace leader Choi International is led by President and CEO Patricia Choi and specializes in Honolulu’s complex luxury real estate sector. The company’s team of approximately 30 agents is committed to outstanding client representation and service with integrity, as well as presenting vast market knowledge and innovative marketing solutions.

Choi International will exclusively represent the Christie's brand throughout Honolulu.

Wholly owned by Christie's, the world's leading art business, Christie's International Real Estate is represented in 46 countries. Choi International joins this carefully selected organization of brokerages, all of which boast records of success in both high-end property sales and exemplary client service.

“Choi International has long been noted within Hawaii’s luxury real estate realm and we are delighted to welcome the company to our network of exclusive Affiliates,” said Zackary Wright, Senior Vice President, Western Regional Manager of Christie’s International Real Estate. “Led by Patricia Choi, who has been Honolulu’s top luxury realtor for the past 16 years, Choi International presents standards of quality and service analogous to those of Christie’s International Real Estate.”

“We take pride in serving as Honolulu’s premier luxury real estate company, representing clients with integrity and discretion,” said Choi International President and CEO Patricia Choi. “Being selected as an exclusive affiliate now allows us to present our network with a new level of offerings through Christie’s International Real Estate’s global reach.”

Choi International’s exclusive territory includes an array of prestigious and exclusive neighborhoods, from Diamond Head and Kahala to Portlock, and the world renowned beachfronts of Kailua, Lanikai, and the North Shore.

For additional information about Christie’s International Real Estate, please contact Michael Sherman at 212-974-4585, or visit www.christiesrealestate.com. For further information on Choi International and its listings, call +1 808-734-7711 or visit www.choi-realty.com.

Maui No Ko Oi - Real Estate Trend

Real Estate Trend

Maui's resort residences are becoming hot properties

STORY BY DIANE HAYNES WOODBURN (click here to download the article)

"I'm selling a lifestyle," Mary Anne Fitch tells me, "not real estate."

Fitch has been one of the most successful realtors in West Maui luxury real estate for twenty-five years. This year, she received the prestigious Top Realtors Award and was inducted into the Hawai'i Realtors Hall of Fame. Fitch has twice been named #1 Realtor on Maui by Hawai'i Business Magazine. Who better to ask:

What trends do you see for the Maul real estate market?

I feel Maui is at the brink of becoming a truly global community. We ore undervalued for the quality of life here. I don't know of another resort community in the world that offers year-round fantastic weather, gorgeous scenery, pristine ocean, and a stable economy. International businesspeople find that they can buy a home here for family vacations, and with the same investment, provide an attractive location for business meetings year-round. Even though Maui is far, it's midway between Asia and America - the perfect middle ground. And it's part of the U.S., making it an attractive home base as well.

Have prices hit bottom?

We are past that. Paul Brewbaker, one of Hawai'i's most respected economists, says we hit bottom in late '09/early 2010. Data from the Hawai'i Realtors Association shows that through June 2013, residential real estate dollar volume on Maui was up 27 percent from last year, and the dollar volume for condominium sales is up 14 percent. Even more interesting, vacant-land sales are up 49 percent from a year ago.

Why Is the increase in vacant-land sales significant?

Diminishing home inventory. An increase in vacant-land sales means home inventory isn't meeting the demand, so people are building their homes. It also means more construction, more people going back to work, and on overall healthy pulse in the economy. Correspondingly, the visitor industry has been showing a steady increase in hotel occupancy and room rates over the last three years, according to the Hawai'i Hotel and Lodging Association. This is good news for investors interested in a second or third home that might also provide rental income. Maui property proves year after year to perform well in the rental market. This is partly because there will be no new development of oceanfront projects- with the exception of the Andaz in Wailea and the relaunch of The Residences at Kapalua Bay.

How does diminishing oceanfront Inventory affect the buyer?

One effect is that prospective buyers are more open to looking at properties throughout the island, whereas, in the past, buyers were either west-side or south-side centric. And even though the economy is on an upswing, buyers are still looking for maximum value. They tend to be doing their homework, analyzing their options, and considering potential growth of their investment. With less inventory to choose from, the buyer is willing to consider all options.

What has surprised you most over the past few years?

What has both surprised and pleased me is the trend of much younger families relocating here and becoming part of the community. My client base in the past was almost exclusively second-home owners. Now I am seeing a happy shift to families moving specifically to raise their children here. One of the factors making this happen is Maui Preparatory Academy. In fact, some of the families who mode the decision to move to Maui were responsible for the grassroots organization that created and now sustains this wonderful school. I'm a huge supporter as well.

What does the coming year hold for real-estate growth?

I am bullish an the investment Larry Ellison [cofounder of Oracle Corporation] is making on Lana'i. I think his vision for that island will make a huge impact in drawing a more international market to Maui County, and affect sales on Maui's west side, where buyers will find a more action-oriented lifestyle. Additionally, the fact that Montage is now managing The Residences at Kapalua Bay should have a very positive impact, particularly on the California markets from Laguna Niguel and Beverly Hills, where the brand is well known. Currently, approximately 40 percent of our buyers are from the West Coast, including British Columbia, California, Washington and Oregon. This could change, however, as direct flights from New York by Hawaiian Airlines are making Maui far more accessible to East Coast visitors."

Advice?

If you have been considering buying on Maui, seize the moment now!

Mary Anne Fitch is owner

and principal broker of

Maui Estates International

and exclusive affiliate for

Christie's International

Real Estate on Maui,

www.soldmaui.com.

Christie’s International Real Estate Announces Presence in Monaco

Monday, September 16, 2013

Monaco, Christie's International Real Estate, the world’s leading luxury real estate network and a subsidiary of Christie’s auction house, awarded Affiliate status to Hammer Draff Great Properties, a boutique residential real estate brokerage firm in Monaco.

Located in the heart of Monte Carlo, opposite the iconic casino, Hammer Draff Great Properties is led by Monica de Champfleury, a real estate veteran with over 20 years of real estate experience in Monaco and the south of France. The real estate market in the principality is among the most prestigious in the world, with an average square meter price in the "Carré d'Or" or the "Golden Square" at around €70,000.

Exclusively representing the Christie’s real estate brand in Monaco, Hammer Draff Great Properties joins a carefully selected organization of 135 brokerages in 46 countries. Those brokerages have been recognized for their records of success in high-end property sales and exemplary client service.

“Hammer Draff Great Properties is a boutique real estate brokerage firm with a longstanding reputation of excellence in sales. It gives us great pride to name this distinguished company to our Affiliate network, which furthers our presence in southern Europe’s most luxurious property market,” says Joachim Wrang-Widén, Christie’s International Real Estate’s Director of Affiliate Services for Europe, Middle East, and Africa.

 “We are excited to join an organization renowned for its quality of discreet client service and we expect this affiliation to satisfy the lifestyle requirements of a discerning clientele interested in Monaco’s real estate as well as luxury properties abroad,” says Monica de Champfleury, Managing Director at Hammer Draff Great Properties.

Monaco is an independent sovereign estate composed of six districts, Monaco Ville, Condamine, Monte Carlo, Fontvieille, Larvotto and Moneghetti. Spread across just under two square kilometers, real estate in Monaco is the most expensive in the world. Monaco’s economic and political stability  makes it one of the leading luxury real estate destinations for high-net-worth individuals globally.

Historic Bermuda Estate Offered at US $45 Million

Luxuriously Restored, 14-Acre Beachfront Compound Served as the Official Bermuda Residence of the United States Consul General for More Than 30 Years

PAGET PARISH, BERMUDA – Chelston, a historic and amenity-rich private compound on Bermuda’s Grape Bay Beach, is now being exclusively marketed by Christie’s International Real Estate, the world’s leading luxury real estate network.  Offered at U.S. $45 million by Christie’s International Real Estate affiliate Sinclair Realty Limited, the 14-acre compound boasts an impressive setting in immediate reach of Grape Bay’s acclaimed pink sands and Atlantic waters. The beachfront estate, fusing classic island elegance and modern designs, is also situated minutes from the bustling streets of Hamilton. 

A long, finely paved entrance trail—complemented on both sides by lush landscaping—leads uphill where the estate’s splendor is revealed. Past a gated entry, the grandly proportioned, pastel-colored property is visually propelled by its bright blue ocean backdrop. Offering 17,000 square feet of interior space, including a 10,000-square-foot main house and five cottages, the estate is accentuated by acres of sweeping lawns and gardens.

Cherished throughout the Bermuda community, Chelston was originally designed and constructed between 1939 and 1941 for Carbon Petroleum Dubbs—an innovator in the process that refines crude oil.  In 1964, the property was passed on to the United States government and for more than 30 years, served as the official Bermuda residence of the United States Consul General. Due to its distinguished reputation, the estate has been visited by a lengthy list of notable individuals, both of the political and entertainment realms. Guests have included President George Bush, former Senator John Kerry, General Colin Powell, former Secretary of State Henry Kissinger, actor Michael Douglas, and model/actress Brooke Shields.

With a noted history, Chelston’s modern-day offerings are the result of a carefully orchestrated, three-year renovation process that was led by renowned architects, builders and craftsmen. Positioned 200 feet above sea level, the main home presents understated elegance and traditional Bermuda design elements. The spacious three-level structure offers high, “Bermuda Tray” ceilings, French doors, a salt-water aquarium with a living coral reef, and floor-to-ceiling windows that carry the exterior’s island atmosphere indoors. Intricate accents that hallmark the estate include decorative artisan tiles, Bermuda stone walls, glass-framed entrances, and hand-painted wallpaper—a true rarity on the island. The home’s lower level is notable for its well-equipped cinema, family room and gym, as well as a two-bedroom manager’s suite.

Additional accommodations within the compound—boasting a total of 15 bedrooms and 19 full baths—include four, multi-room guest cottages and a pool house. Outside, a charming flower-draped porch, complete with a Chinese-stone fireplace, provides a prime location for absorbing the serenity of Chelston’s zero-edge pool, and just past it, the sands and shores of Grape Bay Beach.

“Chelston is notable not only because of its enticing history, but also its luxurious modern comforts and exclusivity,” said Kathleen Coumou, Senior Vice President, Northeast Regional Manger of Christie’s International Real Estate. “With 14 acres of premium solitude, the property is an incomparable North Atlantic gem.”

“The compound is truly rare—from its meticulously detailed interiors, to its immediate access to Grape Bay Beach’s pink sands,” said John Sinclair, the listing agent with Christie’s International Real Estate’s exclusive affiliate, Sinclair Realty Limited. “This amazing residence radiates with culture and elegance and is surely among the most significant estates in the world.”

In addition to Chelston’s acres of manicured grounds and gardens, other noteworthy amenities include a croquet lawn and a small, beachfront pavilion known as “Obsipo,” which offers a wood burning pizza oven and recreation space for seaside entertaining.

Christie's International Real Estate Expands in Hawaii

Island Resort Property Joins Leading International Network of Real Estate Brokers Specializing in the Marketing and Sale of High-Value Properties

KAILUA-KONA, HAWAII—Christie's International Real Estate, the world's leading luxury real estate network and a subsidiary of Christie’s auction house, has awarded Affiliate status to Island Resort Property, LLC.

A noted luxury marketplace leader in Hawaii, Island Resort Property was established by brokers Edward J. Rapoza, Brandon C. Wood and Frank Schenk, who combined their diverse business backgrounds with mutual community-focused passions to offer clients comprehensive and personalized service, innovative proprietary programs, and the highest standards of trust, integrity and expertise. Island Resort Property will represent the Christie's brand in Kailua-Kona and through the Kohala Coast.

Wholly owned by Christie's, the world's leading art business, Christie's International Real Estate is represented in 46 countries. Island Resort Property joins this carefully selected organization of brokerages with proven records of success in both high-end property sales and exemplary client service.

”Island Resort Property is recognized as a notable luxury real estate leader in Hawaii,” said Zackary Wright, Senior Vice President, Western Regional Manager of Christie’s International Real Estate. “The company’s industry expertise and veracity, coupled with its high standards of quality and outstanding client service, complements Christie’s International Real Estate’s values. It is with great pleasure that I welcome Island Resort Property to our network of exclusive Affiliates.”

“We believe some of the best real estate in the world exists right here in Hawaii,” added Edward J. Rapoza, Principal Broker of Island Resort Property. “And we are proud to present to clients our alignment with this prestigious and powerful, international luxury real estate organization.”

Island Resort Property’s exclusive territory includes an array of premier residential resort communities on the island of Hawaii, offering some of the finest experiences in natural amenities, golf, tennis, spas, and dining. The established communities boast first-rate services and an unparalleled sense of community.

For additional information about Christie’s International Real Estate, please contact Michael Sherman at +1 212 974 4585, or visit www.christiesrealestate.com. For further information on Island Resort Property, LLC and its listings, call +1 808 329 7170 or visit www.IslandResortProperty.com.

Spanish Estate, Offered at Us $53 Million, Features 180-Degree Vistas of Los Angeles Basin

Hacienda de la Paz is the only home in the Americas to have been designed by famous Spanish architect Manzano

LOS ANGELES, CA Hacienda de la Paz, an eight-acre, amenity-rich residence in Greater Los Angeles’ Rolling Hills enclave, is now being exclusively marketed by Christie’s International Real Estate, the world’s leading luxury real estate network.  Offered at US$53 million by Christie’s International Real Estate affiliate Hilton & Hyland, the property, influenced by Spanish architecture and design, is perched atop the crest of Southern California’s Palos Verdes Peninsula and features unparalleled, panoramic views of the Los Angeles Basin, San Gabriel Mountains and Santa Monica Bay.

Entry through the estate’s gated front courtyard reveals its hidden grandeur.  The interior measures nearly 50,000 square feet under roof, complemented by sprawling grounds. The construction of Hacienda de la Paz—completed in 2008—included the installation of materials imported from Spain, Portugal and Italy. And as a testament to the exacting standards of its owner, the very workers and craftsmen who painted the murals and frescoes, inlaid the tile work and installed elaborate ceilings, fireplaces, floors, and carpets, were also brought from the European countries to guarantee authentic efforts. Additionally involved in the home's development was Raphael Manzano Martos, a renowned curator for King Juan Carlos of Spain. Adding to its unmistakable draw, Hacienda de la Paz is the only home in the Americas to have been designed by Manzano, who is noted throughout Spain and the Middle East for his hotels, commercial buildings and homes.

The property is shrouded in Mediterranean herbs as well as the traditional trees and flowers of Moorish gardens, reminiscent of an early 1900’s Andalusia country estate. In traditional Spanish style, the main house is flanked by attached “stables” -- reconfigured as guest quarters.  Amenities include a private chapel, custom-forged door and window fixtures, and tile roofing created by the same artisans who have restored the roofs of the California missions. Much of the home’s flooring is comprised of rare, reclaimed heart-pine wood – nearly 300 years in age. The nine-bedroom main residence is also notable for its stately library/office, media room, traditional kitchen, game room and bar. Other iconic, Spanish-inspired amenities include a full-size, 10,000-sqaure-foot Moroccan-style Turkish bath, or hammam, with a cobalt-blue lap pool at its center, accented with 24-karat gold tiles, fountains and imported columns and corbels.

“One of the largest residences in the Western United States, Hacienda de la Paz is remarkable not only in its grandeur but also in its privacy and relative seclusion in the heart of greater Los Angeles,“ said Zackary Wright, Senior Vice President of Christie’s International Real  Estate.  “Imagine being able to look directly out over the city of Los Angeles yet be comfortably removed from the flurry of activity.”

“Never in my career in the Los Angeles luxury real estate market have I seen a property quite like Hacienda de la Paz,” said Marcie Hartley, the listing agent with Christie’s International Real Estate’s exclusive affiliate, Hilton & Highland.  “This amazing, meticulously designed residence is surely L.A.’s best-kept secret.”

In addition to a red-clay tennis court on the grounds -- built to French Open specifications, --Hacienda de la Paz has orchards, a wine cellar, two elevators and 24-hour security. All buildings on the property have been structurally engineered to counteract seismic activity, and the walls are braced with steel beams. As a breathtaking finishing touch, Hacienda de la Paz also has a subterranean ballroom that doubles as a USTA regulation tennis court and emergency shelter. Five stories high and capable of seating 350 guests, the vast room has been decorated with floor-to-ceiling trompe l’oeil murals.

press@christiesrealestate.com

Spending on Lanai Airport upgrades nears $28M

Duane Shimogawa

Reporter-Pacific Business News

Lanai majority owner Larry Ellison is getting quite a bit of help from the state and federal government to the tune of nearly $28 million for improvements to Lanai Airport, the sole airport on the Pineapple Island.

The state-owned airport is part of the 2 percent of the island that the billionaire CEO of Oracle Corp. doesn’t own.

The airport, which has a 5,000-foot-long runway, about 1,900 feet shorter than Kahului Airport on Maui, is scheduled to undergo $27 million in runway safety improvements.

Caroline Sluyter, spokeswoman for the state Department of Transportation, told PBN that 90 percent of the $27 million is coming from federal funding.

The state has prepared, under the National Environmental Policy Act, a draft environmental assessment for the safety improvements.

Additionally, the state, with some help from the Federal Aviation Administration, is spending $900,000 for improvements to Lanai Airport, including a renovation of the terminal and an update to the airport’s master plan and noise program.

Meantime, Ellison’s Lanai Resorts LLC is currently in discussions with the state DOT regarding numerous improvements at Lanai Airport, Sluyter told PBN.

She pointed out that details of these improvements aren’t available at this time.

Ellison, who purchased 98 percent of Lanai about a year ago for a reportedly $300 million, has made known, through Lanai Resorts, that access to the island is a key issue that will be addressed.

Major steps in this initiative include acquiring Island Air in February and also buying another interisland airline — go! — which is expected to be officially announced on Friday.

Larry Ellison's Fantasy Island

By JULIAN GUTHRIE

Lanai, Hawaii

Marco Garcia for The Wall Street Journal

Larry Ellison stood on the white sand of a deserted beach, bordered by palm trees laden with coconuts. It didn't feel real that he could own the island of Lanai, he reflected.

It had been his far-fetched dream since he was in his 20s, when he first flew over one of the smallest of Hawaii's inhabited islands in a Cessna 172 and was captivated by the thousands of acres of pineapple fields.


In June 2012, Mr. Ellison, the co-founder and chief executive of technology giant Oracle, ORCL -0.73% bought Lanai for $300 million from American businessman David Murdock. Now he owns nearly everything on the island, including many of the candy-colored plantation-style homes and apartments, one of the two grocery stores, the two Four Seasons hotels and golf courses, the community center and pool, water company, movie theater, half the roads and some 88,000 acres of land. (2% of the island is owned by the government or by longtime Lanai families.)

For the first time, Mr. Ellison has publicly detailed his ambitious and costly plans for the 141-square-mile island. They include building an ultraluxury hotel on the pristine, white-sand beach facing Molokai and Maui and returning commercial agriculture to the clear-cut acres. He also plans to endow a sustainability laboratory that will help make the island "the first economically viable 100%-green community." And one of his biggest tasks: winning over the island's small, but wary, local population, one whose economic future is heavily dependent on his decisions.

"We want to make the island better for everyone, especially the people who live there," Mr. Ellison said in a recent interview after returning from Lanai, where he bought a home formerly owned by the comedian George Lopez. "We have the right climate and soil to grow the very best gourmet mangos and pineapples on the planet and export them year-round to Asia and North America. We can grow and export flowers and make perfume the old-fashioned way—directly from the flowers, like they do in Grasse, France. We have an ideal location for a couple of organic wineries on the island. But the reintroduction of commercial agriculture to Lanai is 100% dependent upon increasing the available water on the island. So we're going to use solar energy to convert seawater to fresh water."

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