New luxury Ewa Beach resort community opens for viewing
The first 15 model homes will open for tour tomorrow
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Haseko, the developer of Ocean Pointe, will launch Ka Makana at Hoakalei Resort, its most luxurious development to date, in a softened real estate market. Company officials say they're confident it has enough value and amenities, like the marina pictured above, to find buyers. Model homes, located on the southwestern coastline of the Ewa Plain, will be open for tour tomorrow. Sales in the community will start in May.
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, the developer of Ocean Pointe in Ewa Beach, will debut Ka Makana -- its most luxury residential project to date -- at Hoakalei Resort tomorrow.
Ka Makana's first 15 model homes will open for tour with sales slated to begin in May 2008. Approximately 20 homes will be released during the first phase of the development, which is expected to top out just below 900 homes.
One- and two-story, single-family homes in Ka Makana will range in price from the $500,000s to more than $1 million. Fee-simple home sizes will range from 1,212 square feet to 3,552 square feet.
"We are building a community that is so much more than just a place to call home," said Richard Dunn, executive vice president of residential sales and marketing for Haseko. "Coming home to Ka Makana takes you on a journey to another place, where as soon as you cross the bridge over the golf course, you leave the day's care behind and embrace the resort lifestyle."
While Haseko is launching this community in a soft residential market, where many West Oahu neighborhoods have seen dropping values, Dunn said that he expects to see strong demand for Ka Makana.
"We can't control the market and we don't expect to, but we can build quality homes in a unique community," Dunn said, adding that Haseko is offering buyers up to two points if they use the company's preferred lenders.
About 2,400 units of Ocean Pointe's planned 4,850 single- and multi-family homes have taken shape on the development's 1,100 acres since planning began in the late 1980s, said Sharene Saito Tam, director of community relations and public affairs for the developer.
Sales at Fairway's Edge, a luxury resort town home community in Ocean Pointe which is separated from Ka Makana by a bridge, have been strong. Since the project's release in 2006, Haseko has sold approximately 170 of its 216 units.
While Dunn expects mainly kamaaina buyers will purchase in Ka Makana, he's anticipating about 20 to 30 percent of the neighborhood will be second homes.
"We've only had our Web site up for a limited time, but we've already gotten attention from Canada, Japan, China and Korea," he said.
If market conditions hold, full build-out of the 140-acre Ka Makana should be complete in three to four years, Dunn said. Haseko also has set a target date of 2009 for the release of 128 town homes, he said.
CINDY ELLEN RUSSELL CRUSSELL@STARBULLETIN.COM
Richard Dunn, Haseko's executive vice president of residential sales and marketing, showed the kitchen area of one of the model homes at the Ka Makana at Hakalei resort community yesterday.
Haseko has now turned its attention to Hoakalei Resort, which will be home to one of the state's largest marinas, as well as yacht and beach clubs, and a vibrant waterfront commercial district, said Nancy Maeda, Haseko's executive vice president for development.
"Hoakalei is envisioned to become a very active, lively gathering place where you can set sail on a whim, enjoy a latte with friends, or peruse the offerings of local farmers and artisans," Maeda said.
The resort also will include the first Ernie Els-designed golf course in Hawaii, a fitness center, a wellness village and spa, a country club, a cultural and learning center and a luxury hotel, Maeda said.
Seven holes already have been completed at the golf course, which should open by fall, she said. Invitations for private memberships, which will start with a $30,000 initiation fee, will be sent out soon, Maeda said.
In addition to the standard resort amenities, Ka Makana's residents also will be the first community of homeowners in Hawaii to have its own fiber-optic network from Oceanic Time Warner Cable. Those in common areas of the development will be able to access Road Runner's Speed Zone Wi-Fi network.
All homes in the development will be wired for high-speed Internet, digital home-phone service with unlimited nationwide long-distance calling, and broadband video service with more than 400 analog, digital and HDTV channels. Homeowners will pay roughly $94 for these services, which will be bundled into their community maintenance fees.
Ka Makana homeowners also will realize energy savings. All homes, which come with solar hot water systems and are pre-wired for an optional photovoltaic solar electric system, have earned a gold ranking from the National Association of Home Builders.