My favorite oceanfront offering is this Waipouli Beach Resort Penthouse for $600,000 – MLS 217103. Recent sales for similar units have gone over $1M. Waipouli Beach Resort features luxury amenities such as Aveda salon, Oceanfront Tahitian Lanai Bar & Grille, expansive pool lagoon with waterfalls and slides, and luxurious interiors. The development is located right on the beach on the Coconut Coast.
Waipouli Beach Resort was built like a “ship that never leaves the port” according to the developers. Completed in 2006, the owners took title just as the Kauai market was cooling.
Many investors had expectations of flipping their units, and the market became glutted with listings. During the past two years, with our values dropping and the credit market crisis – sales have been very slow. In addition, turmoil in the AOA and a lawsuit regarding billing virtually killed any sales. (Nothing relating to quality of construction). That’s been resolved and new leadership is in place.
I almost missed this fabulous Penthouse listing as it’s amidst many other listings in the same price range, but those units face exterior views (aka, parking lots). The seller was one of those lucky enough to get an early 2004 contract price and she’s obviously motivated. This is NOT a short sale or foreclosure – just a great opportunity!
For a plot map of the all the penthouse units, email me at Info@Susanna4Kauai.com.