www.starbulletin.com/business/20091030_Kailua_estates_3 -
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Published on: 10/30/2009
Last Visited: 10/30/2009
Jeff Kerr of Kerr Michaels Design, along with three investment partners who make up Akua Lau LLC, finished building the estate four years after buying the 1.5-acre lot, and are asking for a record-high price for Oahu's Windward side.
Yesterday morning the team held its first open house, a day after the estate was listed on the Multiple Listing Service.
Already, Kerr says he has three showings lined up in November and December from offshore buyers.
"In this market we felt that although there are fewer purchasers in the $35 million-to-$45 million range, the purchasers in that range don't want density," said Kerr.
"They want privacy and the old kamaaina Hawaii feel."
The speculative, design-to-sell home was inspired by similar estates at the Four Seasons Hualalai on the Big Island, said Kerr, which are listed in a similar price range.
The selling point for this estate, however, is that it would be closer to Honolulu's amenities, including its museums, restaurants and hospitals, without as much vog, he said.
PRICEY DIGS
> Address: 210 N. Kalaheo Ave.
> Developer: Akua Lau LLC (Jeff Kerr, Jan Michaels, Craig Mitchell, Steve Connell)
...
Kerr said the $36 million list price reflects the cost of purchasing the property, which previously had four homes on it, plus the design and construction and time it took to build it.
...
"What we tried to create is something that does not exist on the island of Oahu," said Kerr.
Instead of an ostentatious home typical in Kahala, Kerr said his team aimed to design an estate with an understated elegance.
Sand-colored limestone floors flow inside and out, while generous pocket doors open up to an expansive lawn and oceanfront vista.
If the buyer wishes, Kerr said another parcel is available for a tennis court, spa or another guest home, which is permitted on the lot.
...
Kerr, also a Realtor at Gold Coast Real estate, is confident there's a buyer for the estate.
"I've received more calls in the last 24 hours on this than eight other listings between $1.5 million to $11 million," he said.
...
Jeff Kerr of Kerr Michaels Design, along with three investment partners who make up Akua Lau LLC, finished building the estate four years after buying the 1.5-acre lot, and are asking for a record-high price for Oahu's Windward side.
Yesterday morning the team held its first open house, a day after the estate was listed on the Multiple Listing Service.
Already, Kerr says he has three showings lined up in November and December from offshore buyers.
"In this market we felt that although there are fewer purchasers in the $35 million-to-$45 million range, the purchasers in that range don't want density," said Kerr.
"They want privacy and the old kamaaina Hawaii feel."
The speculative, design-to-sell home was inspired by similar estates at the Four Seasons Hualalai on the Big Island, said Kerr, which are listed in a similar price range.
The selling point for this estate, however, is that it would be closer to Honolulu's amenities, including its museums, restaurants and hospitals, without as much vog, he said.
PRICEY DIGS
> Address: 210 N. Kalaheo Ave.
> Developer: Akua Lau LLC (Jeff Kerr, Jan Michaels, Craig Mitchell, Steve Connell)
...
Kerr said the $36 million list price reflects the cost of purchasing the property, which previously had four homes on it, plus the design and construction and time it took to build it.
...
"What we tried to create is something that does not exist on the island of Oahu," said Kerr.
Instead of an ostentatious home typical in Kahala, Kerr said his team aimed to design an estate with an understated elegance.
Sand-colored limestone floors flow inside and out, while generous pocket doors open up to an expansive lawn and oceanfront vista.
If the buyer wishes, Kerr said another parcel is available for a tennis court, spa or another guest home, which is permitted on the lot.
...
Kerr, also a Realtor at Gold Coast Real estate, is confident there's a buyer for the estate.
"I've received more calls in the last 24 hours on this than eight other listings between $1.5 million to $11 million," he said.
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