Michael Hege RA, CDPE

Ko Olina Kai Golf Estates and Villas- Single Family Property for sale



Ko Olina is best known for it's peaceful lagoons, Marriott's Ko Olina Beach Club and the 5 star Marriott Hotel. But nestled within Ko Olina are enchanting neighborhoods like Coconut Plantation, Ko Olina Hillside, Ko Olina Fairways, Kai Lani and the topic of this article, The Ko Olina Kai Golf Estates.

Ko Olina Kai Golf Estates contains the only single family units in all of Ko Olina. Limited to only 60 Single Family residences out of nearly 1,500 residential townhouses, these single family homes all have golf course frontage along the marvelous Ko Olina Golf Course. The homes range from 1,800 square feet to over 2,200 in the largest plans. For those who love Ko Olina but prefer a single family home, these are the only solution.

Depending on the Plan, there are ranch plans and 2 story units. From the smaller 3 bedroom and 2 1/2 baths to the largest model with 4 bedrooms and 3 full baths. Prices have gotten great on these units and there are some great buys on the market today. Here is a link for the properties currently for sale: Single Family Homes in Ko Olina Kai Golf Estates





One of the best buys on the market is conveniently one of my own listings. This property has never been lived in and is the product of a foreclosure which is being sold by the lender. It originally sold in December of 2005 for over $1,400,000 and is currently listed at $999,900. For full details on this listing Click Here. This is the large 4 bedroom and 3 bath plan and is a great buy!



It's open floor plan, gourmet kitchen complete with all of the new stainless steel appliances make this a home a delight. Fully appointed with washer & dryer, garage door opener and controls, owner manuals and original owners notebook, the new purchaser will be receiving this property in the same condition as they'd bought it from the developer 3 years ago except that you'll have an extra $400,000 in mad money!



Wouldn't you love to call this backyard view your own? If the answer is yes, or even if it's maybe, contact me and we can put our heads together and see if it's the right home for you.

If you'd like to learn a little more about the Ko Olina neighborhood and all it has to offer, you might enjoy this link with each of the Ko Olina neighborhoods explored in detail with MLS searches of each one.

Centex, the developer of the Beach Villas at Ko Olina has suspended sales of their remaining 125 +/- units in preparation of having a Final Sale event on June 6th and June 7th, 2009. I received this email from their Sales Executive yesterday:

Huge news!!

The beautiful Beach Villas at Ko Olina will be priced to sell out in June at a one time sales event! The goal is to sell every single remaining Villa during our sales event, so prices are going to be substantially discounted in order to make that happen. The sales event will be held on June 6 and 7^th at the JW Marriott Ihilani Resort and Spa. This is a huge opportunity! Please call me as soon as possible for specific details on discounts, incentives, and how you can secure yourself a place on our reservation list.

We are now accepting "Priority Reservations", so timing is of the essence to secure your place in this amazing event! I will look forward to hearing from you soon.





The program, as it was explained to me, is that there will be a "priority based" event with time stamped eligibility based upon the date that a valid reservation agreement was received by them. Here are the details:

Per discussion- here is a basic info on the event! Reservation agreement plus $50K deposit-fully refundable. Fully furnished, 1 yr HOA.

Since this program just started, as we speak today there are fewer than 5 completed reservations. Their target is to have an excess of 250 by the date of the event. The developer will then price the units at discounts estimated to be 20 to 35% of the last advertised prices and sell them all based on prices presented on the day of the event. Current owners will also have an additional priority on reservations they place until the end of February. After that they will also fall into the sequential priority of date received reservations.

On the days of the event, as each purchaser is presented the units and prices that are available, they will decide if they are interested in choosing from the remaining pool of available units. At that point they will make their selection or pass with a full refund of their deposit. If they do choose a unit, the next person will be presented the pool of remaining units minus that unit, etc. until they pass through all of the units or until they pass through all of the reservations, whichever comes first.

If one takes Centex at their word, the pricing of the units will be intended to be sufficiently aggressive to have the units all selected by the end of the event. Currently the prices at The Beach Villas at Ko Olina are ranging from $899,000 to $2,850,000. The challenge for interested parties is that in order to protect their opportunity to purchase one of these units at these reduced prices in June, it requires one to be proactive now and participate in the reservation program.

This is a unique opportunity to register now and secure the widest selection of units available through your placement very near to top of the list because of the infancy of the program. The $50,000 reservation fee will be placed in escrow with a Title Company and will be in a non bearing interest account, so the only real cost to this program will be 4 months of dead money in exchange of having the opportunity to purchase these exceptional units at potentially huge discounts.


If you'd like to get more information about the sales event, the property itself or any other information, give me a call at (808) 225-3660 or CLICK HERE to send me an email and we can discuss the matter further. If you are curious about the Beach Villas at Ko Olina in general, you can view a good presentation of them HERE complete with links to floor plans, amenities, etc.

2008 has now come to a close and the numbers are in. The big picture on Oahu shows declines in nearly every category, but they vary in degree by area and by classification, ie, single family versus condominium. To truly understand the current market and how it effects your individual property or an area you are considering, individual research is required.

For the broad overview, sales single family units for the year declined by -24.4% from 3,627 units in 2007 to 2,741 units in 2008 for a decline of 886 units island wide on Oahu. Median sale price declined from $643,500 to $624,000 for a -3% decline. Average sale prices performed better but also declined from $794,183 to $792,520 for a very small decline of -.2%.

In the condominium market, declines of unit sales were greater while the prices remained stronger. Condominium sales declined -28.5% from 5,499 in 2007 to 3,933 in 2008 for a decline of 1,566 for the year island wide on Oahu. Median sale price was flat at $325,000 and the Average sale price made a modest improvement of +.6% from $381,263 in 2007 to $383,418 for a gain.

To me, there is a statistical disconnect in these numbers. I continue to see large declines in the numbers of homes and condominiums sold and yet the prices continue to reflect very little impact to the actual sale prices. I realize that statistics are merely that, but my impression of the market is the prices are softer than the numbers reflect, and the transactions that I have been involved with have seen much larger drops in sale price than the broader market reflects. As I said earlier, these numbers are the broad market and I specialize in the Leeward and the Ewa Plain areas. For those areas (Ko Olina, Makakilo and Kapolei are included in the Ewa Plain neighborhood you can view the complete report at the link placed on the bottom of the page.


When one looks at these specific areas over the year, the impact of the last few months is diluted. These totals reflect totals for the year and since we are most interested in trends, it is revealing to look at the December '08 as compared to the December '07 trends. It is also important to note that because of the nature of "sold" statistics, they tend to lag the actual market. For example, a property might be on the market in May and go under contract in July and actually close in September. In a downward market, the market statistics lag the actual market by months.

For the month of December 2008 as compared to 2007, we see unit declines of -19.5 % in the Ewa Plain and -12.5 % in Makakilo. Similarily, price declines are -11.5% and -4.8% respectively.

These numbers reflect the market that I "feel" when I am showing property and talking with buyers and sellers. The hope is that the lower interest rates which have been moving down since September have reached a point with the dramatic drops in December that will stimulate the market. In any event, the affordability of homes (Price and Interest rates) has made a huge improvement. At 2.26 % on the 10 year treasury in the last week of December 2008, we are now below the low of lows. This compares to 4.12 % in December of 2007. At the time of this writing, the rate has continued to fall and conventional 30 year mortgages are in the 4.5% range and the government loans are in the 5% range.

The last statistic that I want to post is the "Months of Inventory Remaining". In November there was and inventory of 8.6 months for single family and 8.4 months for condominiums. In December both of these numbers changed dramatically to 12.0 and 13.1 months respectively. The chart on Page 16 of the full link will show you the significance of this size of change. This number is determined by the total number of units available divided by the actual amount of units sold that month. As a trend indicator it is very telling and if January is consistent with December, it will indicate a dramatic shift in the market.

I encourage you to look at the complete data available in this comprehensive analysis compiled by Honolulu Board of REALTORS at the following link:

2008 Statistical Analysis By HBR .

As always, if I can answer any questions or if you would like to have any personal assistance, please feel free to contact me and I will assist you in any way that I can.

Contact Michael

Source: Honolulu Board of REALTORS Research Dept., compiled from MLS data.

Ka Makana at Hoakalei

The Beach Villas at Ko Olina

"Go confidently in the direction of your dreams. Live the life you have imagined."
Henry David Thoreau



I'm about to celebrate my second anniversary of living in Ko Olina. When I'm asked
why I moved here, the best answer I've come up with is "sheer desire". It's hard to
describe with words, but it has been a move that has brought the quote above to life
for me.



The Beach Villas at Ko Olina were being built when we moved here. Now they are
100% complete and the Developer's vision of creating a unique residential beach
front paradise have been achieved beyond belief. Built on the 2nd of the 4 signature
lagoons of Ko Olina, the Beach Villas provide an opportunity to own a year round
luxury residence or 2nd home that waits for you until you can come and relax in a
setting that rivals most world class resorts.



Imagine yourselves owning your own luxurious beachfront Villa. Choose the model that
fits your lifestyle the best and settle in for the ride of your life. Models range from 1,100
square feet to nearly 1,500 square feet. Choose between models with 2 or 3 bedrooms
and pick the views that speak to your soul. Each unit has it's own private lanai and
access to the full menu of amenities offered through your ownership at the Beach Villas at
Ko Olina.


The enchantment of Ko Olina is that the Beach Villas at Ko Olina are just a portion of
all that Ko Olina has to offer. When you live in Ko Olina, you enjoy a 642 acre residential
community that is truly unique in Hawaii. Located less than 3 miles from the center of
Kapolei, you enjoy all the conveniences of the fastest growing community in Hawaii
with the seclusion of your own slice of paradise.

The quality of the Ko Olina experience is able to support the 5 star Marriott Hotel
Ihilani Resort and Spa, the 5 star Marriott Beach Club, a Ted Robinson designed 18
Hole Championship Golf course (Michelle Wie's home course and site of the annual
"Fields" LPGA tournament). We are also home to a world class 330 slip full-service
marina that is arguably the best marina in the State of Hawaii with miles of beachfront
walking paths that connect you to all of your new neighbors while enjoying the 4 crystal
blue lagoons.

Perhaps the greatest recent validation of Ko Olina is it's selection by Disney to be the
location of it's newest Hotel and Timeshare development which has begun construction
and will be open in 2011. At an investment of nearly a Billion dollars for the new Disney
project, the Beach Villas at Ko Olina have good neighbors and provide an opportunity
for you to live your life where others can only come to vacation. Click here to learn more
about the Disney Hotel .




With two towers to choose from, the Ocean Tower with 155 villas on 15 floors and the
Beach Tower with 92 villas on 11 floors, the Beach Villas at Ko Olina offer the first
beachfront resort condominium that has been built on the Hawaiian Island of Oahu in
25 years. Prices start in the $900's with a median price of about $1.6MM. With over
half of the units already sold. The Beach Villas at Ko Olina have been well received by
people from all over the world and offer an upscale option for people who demand the
best for themselves, their families and their friends.

I know that I can't begin to convey the experience of this remarkable development with a
few pictures and words. If you are going to be on Oahu and would like to take a tour of
the Villas, I would love to meet you and show you around. Between myself and the
talented staff of the Villas, I'm sure you'll be impressed with what you see. If you would
like me to send you a brochure with photos and floor plans or to answer any questions
you might have, click here .

I look forward to hearing from you and to welcoming you to my neighborhood. If you are
still interested, but want to see more and have a little time while you're here, here is a
great collection of interviews, photos and information. Click on the Island of Oahu and
then follow the links in the lower right corner of the page. Take the virtual tour. .



Aloha!