First Kawamoto Kahala properties hit market

First Kawamoto Kahala properties hit market

KAHALA, OAHU (HawaiiNewsNow) - The first of Genshiro Kawamoto's old Kahala properties have hit the market. The asking price for the 3 lots and Kahala Avenue homes is anywhere from 2.95 to 22 million dollars.

Crews from Re-Use Hawaii are carefully dismantling trashed homes once owned by Kawamoto to prep prime real estate on Kahala Avenue for sale.

"It's unbelievable" says listing agent Tracy Allen. "These properties are just to die for. Seriously."

She's part of a trio of realtors from Coldwell Banker Pacific Properties that has teamed up to sell the first five of Kawamoto 's 27 properties on the famous thoroughfare.

A & B purchased 31 of Kawamoto's Hawaii properties for 98 million dollars 3 months ago.

Remember the billionaire's museum with those gawdy statues?

The lot's cleaned up now with an asking price of 22.5 million.

Realtors say the notorious conditions of Kawamoto's Kahala homes drove prices down, and customers away, but they're interested in coming back.

Beth Chang says, "A lot of the clients were going out to Lanikai, the beach properties there. They've wanted to be here, but it wasn't showing well. Now they're coming back. There's an incredible interest in people coming back here and wanting to be on Kahala Avenue."

Anne Perry talked about some of the selling points of one oceanfront lot listed for 13 million dollars.  "We're on wet sand here and reef and Koko Head and you have Black Point and 35 thousand square feet of land and private steps to the water."

She added, "It's almost as if new land was created. We're an island. We only have so many oceanfront lots."

Fixing up and selling the long neglected properties will go a long way towards restoring Kahala.

Allen explained the significance, saying, "This is like wow, the rejuvenation of the Avenue. We're so elated, we're getting the old Kahala back."

The asking price for the 5 properties for sale is over 45 million dollars.

Three months ago, A & B purchased 31 of Kawamoto's Hawaii holdings for 98 million dollars. 27 of them are on Kahala Avenue.

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