RENDERING COURTESY OF CENTEX HOMES The planned 192-unit Halii Kai resort development on the Big Island, shown in this rendering, is under construction and will begin sales later this month.

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192 condominium villas
at Waikoloa to go on
the market

Centex Destination Properties, the resort division of Fortune 500 firm Centex Corp., soon will begin selling condominium villas at its most recent neighbor island resort residential development, Halii Kai at Waikoloa on the Big Island.

Sales at Halii Kai, which will begin Aug. 19, are expected to meet the pace of Centex's earlier Hawaii offerings, said Bruce Sloan, president of the Hawaii division of Centex Destination Properties.

The company also has developed the Big Island's Kolea Beach Club and Ko Olina Kai Golf Estates & Villas on Oahu.

"They were almost immediate sellouts," Sloan said. Prices at Halii Kai, a 192-condominium gated oceanfront complex on 29 acres within the Waikoloa Beach Resort, will range from the $700,000s to $2 million.

"Halii Kai will present the lifestyle that everyone dreams of living in Hawaii -- relaxing, uplifting and invigorating," Sloan said.

Low interest rates, strong interest in Hawaii and a flurry of wealthy baby boomers seeking second homes has made Centex bullish on the state's second-home market, Sloan said.

"Hawaii offers one of our best long-term opportunities to develop second homes," Sloan said.

The company has a plan to grow its island operations.

Centex is eyeing Ko Olina for further expansion and plans to announce another luxury residential project in the next 60 days that will be built along one of the resort's lagoons.