Home Buying in Kapolei>Question Details

Jel62656, Home Buyer in Kapolei, HI

What is going on at Beach Villas at Ko Olina? Beautiful place but heard bad stories about value there.

Asked by Jel62656, Kapolei, HI Tue Aug 6, 2013

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The litigation is now settled and banks are once again making loans for mortgages at our property. The prices were artificially depressed prior to the settlement, as it was cash buyers only. Even with that, we did have some buyers.

Moving forward, prices will trend up as this is a beach front property and they are not making any more beach front in Hawaii. (At least not quickly, you could wait a while for the volcano on the Big Island to make you some additional land!)
0 votes Thank Flag Link Sat Apr 5, 2014
Aloha Jel,

This is a good question and the full answer to it is probably too lengthy for this type of forum. My family has owned a Beach Villa since the project was first built and since I reside in Ko Olina I have been attending the board meetings and staying on top of the latest information pertaining to the proposed settlements for the outstanding legal issues that have entangled the project since the early days.

It is a complex issue with many ramifications and I would not advise any of my clients to purchase (or sell) there until we have a better idea as to what the outcome of this settlement will be. However, once it is resolved I do expect values to increase, the free market dynamic to be allowed to do its thing, unencumbered from the restraints caused by years of ongoing litigation. It is the belief of many owners and board members, including myself, that there is a great deal of locked up value in these units and if the outstanding issues can be successfully resolved it could work out well for everyone involved.

Overall, it is looking positive for the near term (1-3 years) and the long-term outlook (5-15 years) is uncertain, of course, as much of it will be determined by how well the association and the board can facilitate the transition that is entailed with the proposed settlements.

I also book and manage short-term vacation rentals at the Beach Villas in Ko Olina and as a guest coming and going you honestly wouldn't really know that there are any issues going on behind the scenes. With the exception of no gym access for some units, it is a clean and well-maintained resort complex with great ocean views and close proximity to the pools and a short walk to shops and dining.

Since the details of the proposed settlement have not yet been fully approved/ratified by all the owners I am not at liberty to publish any details about it here. However, if you contact me then we could discuss it in a little more detail and I could answer any other questions you may have about this. I also took extensive during the recent board meeting (Nov. 12, 2013) so at some point I can probably share those with you.

Mahalo,
Munro
808-492-6242

#LiveLoveHawaii
0 votes Thank Flag Link Thu Nov 21, 2013
There were some legal issues at Beach Villas with the builder and the developer but those have now been resolved.The owners are quite satisfied. The property looks great and in 2014 the values should be tracking the market.
0 votes Thank Flag Link Wed Nov 20, 2013
Not resolved yet, but hopefully soon.
Flag Thu Nov 21, 2013
Hello Jel,

To my knowledge it is a nice area. I am aware of a couple boaters who I know from the marina that reside at the Villas and have nothing bad to say. Ko olina has many other projects that vary in price and living area also. If you would like further info regarding values please contact me.
0 votes Thank Flag Link Wed Aug 7, 2013
Hi Jel,

If you would like to see the price trends there let me know. It had a significant drop in prices the last 5 years like most of the other resort/vacation rental areas on the island. All areas will make a comeback, so everyone is trying to guess when that will happen.

frank@hawaiihome.biz
0 votes Thank Flag Link Wed Aug 7, 2013
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