Remember When Kāhala Homes Only Cost 200k? Now They’re 5 Million Dollars
Many pricey homes in the neighborhood aren’t even beachfront property.
Video: Andy Landgraf / 360propertyvideos.com
Kāhala is rapidly becoming a $5 million neighborhood. Beachfront property in Kāhala has always been for the very, very rich and sometimes famous, but we’re not talking about those Kāhala Avenue estates where you step out the door right onto the sand. We’re talking about homes one and two blocks from the ocean, where prices are hitting new highs.
There are currently 11 homes for sale priced at more than $5 million in Kāhala. Only one of these is oceanfront (and it costs $30 million). And, yes, they’re all stunning luxury homes. One, like the masterpiece in this video, is a 6,000-square-foot home at 4534 Aukai Ave., listed by Takako Friend and Akiko Morishita of Locations for $5.9 million.
A savvy buyer knows that list price doesn’t necessarily equate to value. Value is what someone is willing to pay for a property. Since January 2018, six buyers have deemed nonbeachfront homes in Kāhala to be worth $5 million. And three other buyers paid more than $4.4 million for what neighborhood real estate agents call “interior Kāhala.”
Farmers Road is so-named because it was once a place for pig farms. Later, 5-acre lots were sold off as residential lots along the old dirt road. In 2018, a new, very modern home on Farmers Road sold for just shy of $5 million. A gentleman recently walked into an open house in Kāhala and told the story of spending what he considered a ludicrous amount on his home in Kāhala: $200,000. It was 1968, and he couldn’t hide his delight as he shared the story.