Listing photo for 2455 S Kihei Rd, Kihei, Hawaii
Listing photo for 2455 S Kihei Rd, Kihei, Hawaii
Listing photo for 2455 S Kihei Rd, Kihei, Hawaii
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2455 S Kihei Rd,

Kihei, Hawaii

$14,900,000

In Escrow
370,260 Sqft
8.50 Acres

This is the former KAMAOLE GRAND 217 unit luxury condo development and near shovel ready. $6,200,000 has been spent on infrastructure including sewers, fire protection, three huge water meters, grading(needs to be regraded)and preliminary drawings but the current infrastructure is for the old 78 unit Aloha Village condominiums and incompatible with the current 217 unit plan. SMA is in place and ACTIVE. The most recent appraisal was $27,500,000 but seems too high. The North-South Collector road is in and finished. Final construction drawings are needed. This is a bank owned property. I sold the land to the prior owner in 2008 for $4,875,000. The property is zoned Hotel but designated multi-family in the Community Plan and that is cast in concrete. Short term rentals are NOT possible. All toll, there is not less than $15,000,000 spent on this property. There is also a water well for irrigation. Ingress/egress is from the North South Collector road. Right hand turn only onto Kihei road when exiting the property. Gentle slope to the top. Ocean views half way up and all the way from the top floors. Hundreds of thousands of dollars have been spent on architectural, planning, permitting, archeological, interest on loans for the past 11 years. If you have a developer who is capable of a project of this magnitude the pro formas will show the profit potential for this incredible development. The DROP BOX link is comprehensive. POF required and a letter of financial capability essential from the bank or financial institution, REIT, pension fund, insurance company funding the development. The price of the condos can be whatever the market will bear.

Facts & Features
MLS® # 382951
Price $14,900,000
Square Footage 370,260
Acres 8.50
CPR Land Acres 0.00
Type Vacant Land
Sub-Type Vacant Land
Land Tenure Fee Simple
Status Pending - Cont. To Show
Community Information
Address 2455 S Kihei Rd
Area Kihei
Subdivision NONE
State Hawaii
Zip Code 96753
Amenities
View Ocean
Is Waterfront Yes
Waterfront Across Street from Ocean
Additional Information
Date Listed May 20th, 2019
Days on Market 55
Short Sale No
RE / Bank Owned Yes
Description Land Tenure Fee Simple
Listing Details
Office Royal Realty LLC
Photo of Rob Shelton RB-21133

Rob Shelton RB-21133

Office: 808-665-1166
Cell: 808-281-4024

Listings provided courtesy of the REALTORS® Association of Maui.

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