Appraisals for Kealohas' seized Hawaii Kai home come in under what they paid for it
The home is in the foreclosure process as the couple battle legal trouble.
HONOLULU (HawaiiNewsNow) - Three appraisals of the former residence of ex-Police Chief Louis Kealoha and his wife, Katherine, came in under what the couple paid for it in 2013.
The four-bedroom, three-bath, two-story home with a pool is in the 7000 block of Niumalu Loop.
It was purchased for $1.25 million.
But court records show the home was appraised by three different companies, with the highest appraisal being $1.2 million. The median value was $1.168 million.
Hawaii Central Federal Credit Union plans on listing the property for $1.3 million.
Hawaii News Now was at the property earlier this month when it was seized by the federal government.
Katherine Kealoha shot video of an HNN cameraman using her cell phone as the couple moved their belongings out of the home.
The property fell into foreclosure after the two stopped paying the mortgage as the FBI closed in on indicting them.
Both are facing more than 20 counts of federal charges including conspiracy to obstruct justice, identity theft, and civil rights violations. They’ll have two separate trials next year.
The Uniform Residential Appraisal Report for the home notes that the property is in foreclosure proceedings and that the owners are “well-known public figures currently battling many legal issues.”
The report further states that the Kealohas alleged crimes do “not appear to adversely affect the marketability of the subject property.”
SEE IMAGES OF THE HOME HERE:
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