Michael Hege RA, CDPE

Reservations now being considered without $50,000 initial deposit!!!

If I have ever dreamed of being a Developer, that thought is now officially out of my head. I have been more involved with this project than any other in my career and am now in full understanding of the risks that a developer takes. It's easy to think of how great it would be if everything goes great, but the vulnerability to outside forces can not be understated.

This project has experienced many adverse conditions. An economic downturn of near biblical proportions, deterioration of market values, declines in the tourist industry, changing lender guidelines and Home Owner Association (HOA) issues have all taken their toll on the event. And yet, it seemed that with a 7 week postponement, the event was still going to be successful. All of this was thrown into question this past week when litigation was filed and it now seems that the event has been placed on hold until this is resolved.

And still I like this project! Perhaps more now than before. I have placed 3 more reservations this weekend and hope to place a few more once I receive them. The biggest change generated in all of this is the apparent willingness of the Developer to now accept reservations without the previous requirement of the $50,000 deposit due to the uncertainty of when the event will occur.

The units are the same as they were and Ko Olina is the same as it was before. Arguably one of the best beach front fee simple developments on Oahu, that has also not changed. Bearing in mind that over half of the units have sold and closed at the pre event discount prices and that the last word I had was that once the event occurs, there is still the intention of selling at discounts ranging from 30% to 40% (subject to change of course) from those prices, in my opinion it continues to be an investment worthy of consideration depending more on your own situation than that of the Developer.

I'm not saying that there aren't issues and I'm not saying that due to the cost structure that these properties have that they are for everyone. Because of the winding road the event has taken and the complexity of the issues involved, I would also emphasize that it is a great example of where there is a definite advantage of having outside representation with only the buyer's interest at heart. But I will say that this is shaping up to have all the possibilities of a good opportunity to buy into a unique resort property at very competitive prices.

As always, if you would be interested in contacting me, I would be more than happy to share my thoughts with you and send you a reservation form for your review and consideration. With the apparent ability to secure a reservation without a deposit, it seems a great opportunity to get a place in line and then make the harder decisions when the time comes.

For a link to my last article with links to all the previous articles, CLICK HERE . To contact via email, CLICK HERE .

If you would just like to chat about them and get a little more information, please feel free to give me a call at (808) 225-3660.

I look forward to hearing from you!

Mahalo,

Michael Hege' RA
Kapolei Realty, Inc

Enjoy the Best of Oahu !



To view the current listings Click here .

For the discriminating buyer, the possibility exists that we have now entered the best market to purchase Exclusive properties in Hawaii in years. I've created a link to a website located at the top of this article to view these properties, but thought I'd also spend some time on why I believe the market may be perfectly positioned to acquire these properties now.




As we sit today in the $5MM plus market, there are currently 38 properties available. In the past 6 months, there have been a grand total of 4 sales in this price range in the criteria that I am analyzing which is waterfront properties. The last 2 of these sales were recorded in March of 2009 with the 2 other properties having closed in December and January. In other words, up to 38 homeowners have been waiting over 3 months for someone to purchase their property and no one has come forward.





At the past 6 month activity level, it would take 5 years to deplete the current supply of listings and at the past 3 month level (zero), it is what one could aptly describe as a market that could be within the complete control of a capable buyer. To put this into a historical perspective :

2008 totals 14 closed sales 17 active listings at year end (38 June '09)
2007 totals 9 closed sales
2006 totals 12 closed sales
2005 totals 8 closed sales
2004 totals 9 closed sales

As you can tell from the numbers above, while 8 to 14 sales in this price range and category are the historical range per year, with no sales and no pending sales currently identified on the MLS for the past 3 months, what a great climate to present an offer to a seller that is cash and priced according to the current market conditions.




The search link below is to provide you with an idea of what is currently available. If you would be more interested in having a personalized search prepared for you or would like more information on my market feel free to contact me by email or give me a call at 808-225-3660.




I have made the business decision to only represent purchasers in this price range of homes which allows me to fully represent the purchaser's interests, aid in negotiating strategies and aggressively seek the best terms available for my client, the purchaser. To further avoid potential conflicts with my existing client's interests, before I am able to accept additional clients in this price range, I seek approval from my existing clients.

Search website for Ocean Front listings

Ocean Front for under $1MM This listing is HOT!

Let's get started!



Michael Hege' RA
Kapolei Realty, Inc
808-225-3660
mhhege@aol.com

If there is a better place to live than Kai Lani, I just haven't found it!


I can't promise the rainbow, but this is from the lanai

It is my pleasure to be able to offer this Oceanfront home complete with the furnishings as you see the home for sale. Located in the gated community of Kai Lani at the Ko Olina Resort and Marina, this property has one of the best unobstructed ocean views you can find. For the full specs on this new listing, MLS details .

This is one of those unique properties that is perfect for a primary residence, a second home or as an investment as a vacation rental and just save a month or two for yourself and your family. Should we go inside?




Kai Lani is a small neighborhood with only 30 buildings sprinkled over nearly 11 acres and each building has 2 ground floor units and 2 upper units. This particular building was chosen by the developer as the building he wanted because of it's privacy and view. The developer had first pick of the building he wanted and now you can have the same.

Here is a view of the Master Bedroom as it is furnished and don't forget that the view from the double windows with plantation shutters faces the ocean.


The living area is very large with an open floor plan including the kitchen, dining room and living area with fantastic views from anywhere in the area.



As you are walking back from the beach, this is how your new home will look to you as you approach it from the ocean. The HOA fees include all exterior maintenance, landscaping and yard care, exterior building insurance, pool, and membership to the Ko Olina Sports Club which includes a gym, tennis courts and discounts throughout the resort.



And in case you were wondering, here is the beach you'll be walking
back from with Kai Lani in the background.



Priced at $999,000 this offers ocean front within a community in a Resort location where 5 star hotels, a LPGA golf course and a world class marina are located. Currently Disney has chosen Ko Olina as the site of their latest property and is currently under construction with a completion date of August 2011. If you've always wanted a place in Hawaii, I would encourage you to seriously consider this property while the prices are low and the best is available.

As always, you may contact me by email, Contact Michael or give me a call at (808) 225-3660 for information on this or any property in Ko Olina.

Mahalo,

Michael Hege' RA, CDPE
Certified Distress Property Expert
Kapolei Realty, Inc
HomesOahuHawaii.com
KapoleiToday.com

Luxury in Paradise

It is a true pleasure to be able to offer this property for long term lease. One of only 60 single family residences in the entire Ko Olina Resort. This home overlooks the signature 18th green and across to the Ko Olina Golf Club and Roy's restaurant. Ko Olina Kai Golf Estates & Villas is a gated community within the Ko Olina Resort and Marina. I took this picture from the back yard of the home being discussed.




This marvelously landscaped yard comes complete with it's own gardener so all you have to do is enjoy it. Professionally landscaped front and back yard, lush lawns with automatic sprinklers and a large covered flagstone Lanai with a BBQ and walkway that wraps around the side of the house to the front yard all combine to make this a home that will invite outdoor living.



But what about the inside you say. Hang your clothes in the closet and enjoy this exquisitely appointed home. Remember it is being leased as you see it (with the exception of one or two pieces of art and personal belongings). Ready to go inside?

Rattan, teak, Hawaiiana art and open living make up the theme of this home. This home has been a valued retreat for the owners for the past four years and has never been available as a rental before. You will find yourself enjoying the thoughts and taste of the owners for the past four years in every nook and cranny of this property.




Stainless whirlpool appliances, every thing you could possibly desire in terms of kitchen ware, cookware and dish ware is already there and waiting for you to discover.


Large screen TV, comfortable couches and chairs, open floor plan with 3 bedrooms, 2 and 1/2 baths make for 1,865 feet of comfort and relaxation. The central living area has 2 glass sliding doors that open to the backyard lanai and views of the golf course from any where in the living area. Open the doors and enjoy the Trade's or use the central air to keep the temperature just the way you want it.




This large master bedroom has windows facing the back of the house for privacy and the best views. A full bath with double vanity, walkin closet, separate shower and tub truly make a master suite.



Don't you just love it?



The second bedroom is great also and is set up as a bedroom and the third bedroom is currently furnished as an office. A full bath shared between the second and third bedrooms provide a certain amount of privacy for these two rooms and a powder room off the living area completes the package. The garage is a two car garage with drive way parking allowed for a total of up to 4 cars in total.



Don't forget... all the gardening, front and back is not your concern. It's a well known fact that there is no yard work allowed in paradise.

I suppose it's time to talk money. It is preferred to have a 12 month lease. Shorter than a year will be entertained and longer that a year will receive preference. Rent is $4,250 per month plus the GET tax of 4.5% which brings the total rent to just under $4,450 fully furnished inside and out with water, sewer, trash and all yard care included. The person who lives here will be responsible for their own consumables of electrical, cable, phone and internet services.

Don't forget the pool!



Lease of this property will also include a membership to the Ko Olina Sports Club at no cost to the tenant other than the initial $25 charge for each of your 2 membership ID's. This includes 2 tennis courts (with night lights) a fitness center, discounts throughout the resort including GOLF at the Ko Olina Golf Course, restaurants in the resort and excursion activities. If you would like a copy of the last newsletter, let me know and I will email it to you. My favorite discount with the Sports Club is 9 holes after 3:30 pm for $30. One person under 17 can join you for free!



Tennis anyone? 2 courts with lights on until 10 pm. Another reason the location of this unit is excellent is because there is a path from Ko Olina Kai to the golf course that starts a few houses away and the fitness center and golf course are across the parking lot from the Country Club. So... that puts you less than a 5 minute walk from Roys Restaurant and Bar or tennis and exercise. Down the path and left to award winning food, sushi and drinks or right to the gym. These are the hardest choices you'll have to make here.



There is a complete photo set for view on Flickr. If you'd like to see more pictures, CLICK HERE . If you are not as familiar with Ko Olina Resort and Marina as you'd like to be, you can visit their website and learn more about the 4 lagoons, world class marina, golf course and general lay of the land.

I'd love to hear from you if you have any questions give me a call or or you may contact me by email here CONTACT MICHAEL . I would be honored to have the opportunity to show you this property or help you in any way I can with your housing needs in the Ko Olina area.

Lastly, if you own property in Ko Olina and have considered having a professional management service manage your property, Kapolei Realty, Inc has been managing property in the area for over 15 years and is a locally owned company with an impeccable reputation. I would be more than happy to explain our property management program to you!

Mahalo for your time and interest.

Michael Hege' RA
Kapolei Realty, Inc
(808) 225-3660
www.HomesOahuHawaii.com

The final sale event, originally scheduled for June 6th and 7th has been rescheduled until the weekend of July 25th according to Bruce Sloan, Division President, Centex Destination Properties - Hawaii.

The purpose of the rescheduling was explained in a letter from Mr. Sloan sent to the current reservation holders. The following is a portion of that letter:

"With the prospect of the completion of sales by Centex Destination Properties at the Sales Event, some of our existing owners have expressed concern about the future use and operation of the amenities and grounds at the Beach Villas. We are currently contemplating modifications to the operational framework of the property to remove some perceived uncertainty that is concerning to certain existing owners while at the same time maintaining the existing uses and quality that make the property so appealing. The delay in the timing of the Sales Event should allow us an opportunity to make the contemplated changes as well as provide you the necessary time to modify your plans to attend."

With the exception of travel plans that had already been made, I see many more positives than negatives associated with the postponement. For those folks who were just finding out about the sale, it gives them more time to evaluate and decide. For those who had already decided to participate, there are some details that can be cleaned up and when they are, the Beach Villas will be a better product than they already are.

If this is your first exposure to the Villas, I have written several articles on them and if you have been searching for a unique luxury property in Hawaii with beach front access and discount pricing, I recommend you follow the links below to learn about the Villas, the sale event and the opportunity that is being presented with them.

If you would like to contact me for more information, Click here to contact Michael

The Beach Villas at Ko Olina - Overview

The Beach Villas at Ko Olina - Final Sale Event

The Beach Villas at Ko Olina - Final Sale Event - Update

I look forward to hearing from you!