78-6626 ALII DR, KAILUA KONA, HI 96740

$4,875,000
5
BD
5
BA
2,758
SqFt
Sold Price
$4,875,000
List Price
$4,995,000
Days on Market
48
Closing Date
Apr 15, 2024
MLS#
708176
Status
SOLD
Type
Single Family Residential
Bedrooms
5
Bathrooms
5
Living Area
2,758
Land Tenure
Fee Simple
Neighborhood
Kahaluu Beach Lots

Property Description

Meticulously renovated in 2022 under the guidance of esteemed design professionals, Mele Kai or “Ocean Song”, stands as a remarkable oceanfront masterpiece seeking its discerning new owner. On track to operate at a 8.76% cap rate in its next year, this property offers the rare opportunity to either maintain its successful vacation rental status or utilize its coveted Bed and Breakfast license to establish a first of its kind, luxury boutique hotel on the Big Island. Situated on two oceanfront parcels spanning 174’ of coastline, Mele Kai boasts direct access to tide pools, sandy beaches and the open ocean. Each individually rare, but an unparalleled combination along the Kona coast. Luxury permeates every aspect of Mele Kai, from Bertazzoni appliances in the kitchen to custom La Cantina folding doors seamlessly blending indoor and outdoor spaces. Its interior design captures the essence of coastal living, with a serene palette echoing the Pacific's dynamic colors. With each of the five bedrooms that open to the ocean, en-suite baths adorned with hand painted tiles and premium linens, guests are delivered a lavish retreat reminiscent of five star resorts. Outdoor amenities include a redesigned lap pool, lava rock waterfall, BBQ and expansive covered lanai. A perfect setting to enjoy morning Kona coffee or to witness the elusive green flash sunset. This property comes fully equipped for continued business success, including Bed and Breakfast license, property website, images, client databases and established relationships with travel partners and vendors. Mele Kai will appeal to astute investors as well as those seeking refined luxury coupled with lucrative income potential. Representing an irresistible opportunity for those looking to enhance their portfolio with a truly exceptional asset, Mele Kai is the apex of vacation rental investment properties on the Kona Coast. Offering Memorandum available by request.

Additional Information

Solid Waste Disposal Trash
Private Contractor
Roads
County
Features
Ceilings-9'+, Ceiling-Vaulted, Exterior Lighting
Parking
Covered, Attached
Taxes Annual
$30142
View
Bay, Coastline, Ocean, Ocean Horizon, Sunset
Appliances
Convection Oven, Disposal, Dishwasher, Electric Cooktop, Microwave, Refrigerator, Range Hood, Wine Cooler
Lot Number
17-A
Zoning
RS-7.5
Lot Size
14,530
Water
County
Power
Overhead
Window Coverings
Blinds
Frontage
Ocean, Road/Street, Ocean
Heating Cooling
Individual Cooling
Sewer
Cesspool
Assessed Value
2734100
Floor Covering
Ceramic Tile, Laminate
Washer Dryer
Stacked Washer/Dryer
District
North Kona
Pool
Yes
Unit Description
Multi-Story, Single Family Home
Year Built
1987

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Calculator source: Real Geeks

Listing courtesy of KW Big Island. Selling Office: .

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