Corcoran Pacific Properties
This iconic upcountry landmark residence in Waimea on the Big Island of Hawaii has long been an important part of the Islands history. The exceedingly rare Leasehold, V-125 Resort zoning is in addition to the farming and ranching component the Big Island is famous for; this residential compound also presents opportunities for commercial usage. Consisting of 3 contiguous lots totaling approx. 11.3 acres, the main house w/10 bedrooms and bathrooms, 2 commercial kitchens, a Koa wood library/billiard room, a Honduran Mahogany wood cocktail lounge and bar, a grand dining room, and a stream side guest house of 3/3. Total approx. combined living space is 13,660. The highest and best use today may be to create a Family and Friends retreat and safe haven nurturing your family and community while establishing a farm to table lifestyle; this property allows for all of that. Acquired in the mid 60s by Laurance Rockefeller as his private residence while he developed the famed Mauna Kea Beach Hotel, he knew a good ranch and beach property when he saw one. He hosted many famous people and dignitaries at this exclusive ranch estate including Kennedys and Kissingers while expanding greatly on the original 1897 plantation home. For the last 27 years the owner has stewarded the property and w/39 years left on the lease, is ready to graciously hand it off. The 2020 County of Hawaii combined tax assessed value for all 3 lots is $8,042,700; a commercial opinion of value came in at $8-12,000,000. The renovation cost of the asset has been factored into this historic new low list price. The property is approx. 5-20 minutes to the Gold Coast w/5-star hotels, world class golf and beaches, 2 Presidential-award winning college prep schools, Kahilu Performing Arts and N. Hawaii Community Hospital. Lease expires in June 2059; annual rent is currently $3,200.00 and will increase at $24 per acre every ten years. Current annual taxes as listed are for all 3 lots combined.
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