NEW HAWAII $500+ MILLION RESIDENTIAL, RESORT-GOLF-BEACH DEVELOPMENTS ANNOUNCED WITHIN FAMED MAUNA KEA RESORT, AIMED TO APPEAL TO U.S. AND JAPANESE HIGH-END LUXURY BUYERS

Two-time American League MVP Shohei Ohtani will be the first resident for Kohala Coast project

KOHALA COAST, Hawaii, April 22, 2024 /PRNewswire/ -- Located on the scenic Kohala Coast of the island of Hawaii, Hapuna Estates is a gated community within the world-renowned Mauna Kea Resort. Offering discerning buyers unparalleled residential settings heightened by the legendary landscape, Hapuna Estates consists of 66 luxury homes over 34 acres valued at $500+ million.

One section of the project, "Panorama at Mauna Kea Resort," will include 36 duplex condos ranging in price from $4 to $6 million. Another subdivision, "The Vista at Mauna Kea Resort," will include 14 homes located on an adjacent 17 acres priced in the range of $17 to $20 million. Buyers will have the opportunity to purchase finished lots, whole homes, or they can purchase co-ownership with as little as 25% ownership of a home.

Only 12 of the 14 homesites are currently available within The Vista estates, as one lot is currently in escrow with a buyer and Shohei Ohtani has already selected his. "To me, Hawaii is a beautiful blend of Pacific Ocean cultures," said the new star of the Los Angeles Dodgers. "Here, I found my own paradise at Mauna Kea Resort: Two perfect beaches, two amazing golf courses, and so much more. I selected my homesite and am building my winter home here. This is a special place – a place I will soon call home."

Expansive, very private, and surrounded by 360° views of rolling rangeland and the Kohala Coast, The Vista at Mauna Kea Resort homesites are being designed by Tom Kundig and the Seattle office of Olson Kundig, a collaborative global design practice renowned for expanding the concept of built and natural landscapes and recently honored on the 2024 AD100 list. The residences range from 5,000 to 6,135 square feet of living space and are scheduled for completion by late 2025.

Both projects are elevated more than 500 feet above sea level, offering over 40 miles of coastline and sunset views. The Vista and Panorama are located in Hapuna Estates on the 8th, 9th, 10th and 11th holes of the Arnold Palmer-designed Hapuna Golf Course and a short golf cart ride from Hapuna Beach — often ranked as Hawaii's best beach.

Mauna Kea Resort traces back more than five decades to when eco-tourism visionary Laurance S. Rockefeller and his resort management company RockResorts opened environmentally focused properties on various islands of the Caribbean and along the Kohala Coast of Hawaii Island.

The general partner and manager of the development is highly respected Newport Beach, California-based developer West Point Investment Corporation. West Point is led by President Kevin Hayes, Sr. and Hawaii real estate broker Tomo Matsumoto, who is the leader of project sales in the resort.

Most recently, West Point partnered with investment firm Angelo Gordon on the conversion of 98 rooms at the Westin Hapuna Beach Hotel in the Mauna Kea Resort into The Hapuna Beach Residences (68 condominiums generating $270 million of sales and five resales that have appreciated more than 30% on average since they were originally purchased in 2021 and 2022). "As we continue to build beautifully designed residences in Hawaii's most famous and amenity-rich resort, I know we will continue to deliver value to our homebuyers," noted Hayes.

Las Vegas-based developer Kingsbarn Realty Capital is the investment co-partner with West Point on the 14-home Vista at Mauna Kea Resort. Kingsbarn is an investment and asset manager that provides structured investments to institutional and accredited investors with an array of alternative investment products.

Kingsbarn has over $2 billion of assets under management and has acquired over 280 properties throughout the United States. Kingsbarn is also a leading national real estate developer with a current pipeline of over $2 billion in projects consisting of multifamily, student housing, industrial, retail, and hospitality. "There is high demand and little supply for luxury homes on Hawaii Island with no competition for the shared-home ownership structure," stated Kingsbarn CEO Jeff Pori.

Hawaii-based family office Dominis Holdings LLC is the principal investor with West Point for the 36-unit Panorama at Mauna Kea Resort, located only 200 yards away from the Vista project. Also involved in the project is Aloha Partners, which includes NYC-based Mark Dalton of Halsey Lane Holdings, Mark Laska of La Jolla, California, and Jeffrey Lenkov of Los Angeles. Aloha has also provided financial and other consulting services for the project since its inception.

Construction is slated to begin by mid-2024, with the first homes to be delivered in late 2025. For more information or sales inquiries, please contact Tomoko Matsumoto, Hapuna Realty at 808-557-8689, via email at [email protected], or visit maunakealiving.com.

Media Note: Images are available for download by clicking here. Photo credit: Compass Marketing

SOURCE Hapuna Estates

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