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

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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.