Oceanfront Options – The North Shore – Kuilima

By the time the winter big wave surfing competitions conclude at the famous beaches of Oahu’s North Shore, visitors and competitors from all parts of the world will have been exposed to the energy and ambiance of this unique part of Hawaii. Many have purchased their own personal “piece of paradise,” contributing to the diversity of the North Shore communities.

North Shore real estate has continued to appreciate dramatically over the past three decadess. Homes along the stretch of coastline between Kahuku and Kaena Point range from “beach shacks” to multi-million dollar estates and condominium developments. Kamaaina families have continued to maintain both primary and secondary residences on the North Shore, and companies such as Billabong, Hurley, and Volcom have purchased properties in choice beachfront locations. Commercial development is concentrated primarily in Haleiwa Town, where several new commercial projects have just been completed. Despite the extensive media exposure and the increase in upscale residential real estate development, the North Shore of Oahu continues to resist excesses of urban encroachment and retain its country atmosphere.

With so many beautiful and exciting natural attractions along Oahu’s North Shore, it’s no wonder that the area has become a hot spot for visitors from around the world — and thus ideal for investors to own high-end vacation rentals.

In particular, dozens of beachfront condominium owners at the three-story, 57-unit Ocean Villas rent out their properties on a nightly basis, in some cases grossing more than $200,000 a year.

One such fee-simple property is a three-bedroom, two-bath second-floor, 1,768-square-foot corner unit, on the market for $2,395,000. Listing agent Diego Miranda of Sterman Realty described it as “extremely unique,” because as a corner unit it has ocean views from every bedroom.

“In the entire Ocean Villas complex,” Miranda said, “there are only two units that provide ocean views from all the rooms … this one, of course, being one of the two.

“The other feature that makes this unit special is the great sea breeze throughout — again, because of the location and orientation of the unit. But, of course, there’s central air, if desired.”

Located along Kuilima Cove at the 858-acre Turtle Bay Resort, the condos at Ocean Villas have access not only to the white sandy beach and safe swimming area of the cove, but also to a private pool and Jacuzzi, a courtyard and barbecue area, 24-hour private security, designated parking and a gated parking lot. And that’s not all.

“The great thing about being at Turtle Bay,” said Miranda, “is the proximity to amazing restaurants, amenities, activities such as tennis, surfing, golf, horseback riding, snorkeling, fitness centers and more.

“The condo I’m representing was built in 2000 with only the ‘best-of-the-line’ appliances and furniture. Through the years, the owner did a few nice updates, including buying the best of linens, towels, pillows, divets and mattresses, and recently installing brand new laundry appliances.”

Miranda noted that the seller has been handling all the property management, but Sterman Realty, which has 40 years of experience on the North Shore, could assume that duty for the new owner, if requested. As an additional sales point, a buyer can make a down payment as low as 15 percent through a financing option.

For more information or to arrange a showing, contact Miranda at 330-5694 or diego@sterman.com.