Real Estate - November 2010 November 1, 2010 Site Staff Hawaii Loa Ridge Haven Jenny Quill, We’ve covered this Hawaii Loa Ridge home, which Sydney Snyder of Ossipoff, Snyder and Rowland designed, before: See senior writer Mike Keany’s 2007 article, “Zen on the Ridge.” Ossipoff’s Diamond Head Design Jenny Quill, Given architect Vladimir Ossipoff’s influence and popularity, his homes, when they come on the market, are highly coveted and command hefty price tags. For instance, there are about five Vladimir Ossipoff-designed homes currently for sale, most located on the island’s windward side and all listed for more than $3 million. Country Club Chic in Kahala Jenny Quill, Kahala’s Kai Nani neighborhood is an intimate enclave of about 30 homes running along the eastern side of Waialae Country Club. Homes here hold their value, due to both the lack of inventory and the big-price-tag-commanding golf course and direct oceanfront locations. Hawaii’s 17th Most Expensive Home on Market Jenny Quill, Many of you may recognize this opulent Kahala estate from this magazine’s 25 Most Expensive Homes in Hawaii article, which appeared in the September issue. Built by Honolulu attorney David Schutter in the 1980s, the property, which was ranked as the 17th most expensive home in Hawaii with an assessed value of $19.2 million, is currently owned by Kirin Planning. The Makaha of Yesteryear Jenny Quill, I’ve seen old condominium and hotel advertisements that trumpeted Makaha as the “new Waikiki,” and while their claims clearly didn’t pan out, it’s interesting to see Makaha through the back-then lens, when it was virgin territory with beautiful beaches, epic surf and some of the island’s best fishing (most of which still holds true). This Weekend's Open Houses Jenny Quill, Given that we have just five more days until Thanksgiving, it’s fitting that this weekend has a plentiful bounty of open houses. Landlord-Tenant Issues 101 Jenny Quill, I’ve had my fair share of maniacal landlords (you know who you are), and, as a result, I’ve acquired a thorough knowledge of Hawaii’s Residential Landlord-Tenant Code. But when I had my first crazy-landlord run-in, I didn’t know where to turn. The following information has saved me from a number of bad situations. Schrader’s Windward Country Inn in Kaneohe Sold Jenny Quill, Schrader’s Windward Country Inn, the only hotel on Kaneohe Bay, has sold for $3 million, $900,000 less than the asking price. For 30-plus years, owner Ralph Schrader, who recently passed away, welcomed guests to the intimate-though-aging inn, which is situated at Laenani Point in Kaneohe. Japan Meets Hawaii Loa Ridge Jenny Quill, Traditional Japanese homes are fairly common in Hawaii, though with 3,441 square feet of livable space, this authentic Japanese estate in Hawaii Loa Ridge is done on a much grander scale than most. LOST Kahala Manse Off the Market Jenny Quill, CNBC.com ran a fun story last week highlighting several houses featured in popular TV shows and movies that have recently sold or are currently on the market. Included on the list is the mansion featured in the Lost Season 3 episode, “Tricia Tanaka is Dead.” This Week’s Open House Pick: Kahala Jenny Quill, Hale O Manu I Palekaiko, or House of Bird of Paradise, stands out among its Kahala neighbors. Old Pineapple Hut Property for Sale Jenny Quill, They may be something of an eyesore at the moment, but these three adjoining Matson Point lots in Kaneohe are brimming with history. Number Crunching: October Real Estate Stats for Honolulu Jenny Quill, The October real estate numbers from the Honolulu Board of Realtors were just released yesterday, and the news is shruggable. Here are a few notable points. Historic George D. Oakley Residence Back on Market Jenny Quill, Architectural gems like this don’t often come on the market. In fact, this is the first time since it was built in 1929 that the George D. Oakley house in lower Manoa has been listed for sale. The residence, which was designed by architect Miles H. Gray, an engineer with the U.S. Army Quartermaster Corps., is considered one of the state’s best remaining examples of houses built in the English cottage style, and is listed on both the National and State Registers of Historic Places. Proposed Changes to Taxes on Historic Homes Jenny Quill, If you’re interested in the preservation of historic homes on Oahu, today’s column is for you. This Wednesday, Nov. 10, the Honolulu City Council’s Budget Committee, chaired by councilmember Nestor Garcia, will hold a public hearing to discuss Bill 55 and Resolution 10-274, both of which will impact residences placed on the Hawaii Register of Historic Places after Jan. 1, 1977. Flipping Houses in This Economy? You Bet. Jenny Quill, Many local real estate experts would say that you’d have to be flippin’ crazy to flip a house in this economy, but that’s just what two investors did with this Coconut Grove home. So, You Want to Live in the Trump Tower Waikiki Beach Walk? Jenny Quill, The Trump International Hotel and Tower Waikiki Beach Walk doesn’t allow open houses, so unless you decide to stay as a hotel guest, you’re not getting in to see the building’s ultra-swanky abodes. Trump’s debut in Waikiki has not been smooth sailing: The condo-hotel, which has 462 units, sold out in record time, but then, as the opening neared, the economy sank deeper into a recession and the buyer cancellations began. Rather than lose the large down payment, many owners chose to close on the properties, only to almost immediately put them back on the market. So, for a while it seemed that the MLS was awash in Trump listings. But things are looking up for Trump. In October, there were 41 units active in MLS, and seven units have sold in the last six months, with an average days-on-market of 54. Hilton, Back in the Day Jenny Quill, As I mentioned in a recent post, I’ll be sharing some vintage HONOLULU Magazine real estate ads from time to time. This Hilton Lagoon Apartments ad, from the August 1966 issue, caught my eye thanks to its highlighter-yellow backdrop and eye-catching black-and-white illustrations, drawings meant to convey the good life in Honolulu. Crouching Lion Inn & Restaurant for Sale Jenny Quill, The Crouching Lion has long been a welcome respite for weary Oahu residents tasked with chauffeuring their in-laws around the island on whirlwind tours of the east side and North Shore. (Sea turtles! Shave ice! The mac nut farm! Oh, my). Having done this jaunt several times, I can honestly say that around Kaaawa, my patience begins to wear a little thin, which is why the Crouching Lion is so fantastic. Perched on a hillside, with abundant outdoor eating areas, ocean views and a gift shop, it’s every tourist’s happy spot and an excellent excuse for the tour guides to relax with mai tais. In fact, I’d become so enamored with the place that I wrote about it in last year’s Best Bars feature. Ossipoff-Designed House on Market for $3.5 Million Jenny Quill, A fan of the work of architect Vladimir Ossipoff (yes, even the hotly debated IBM Building), I’m experiencing a bit of real estate envy with this house, a Diamond Head stunner that displays many of the details for which Ossipoff has come to be known: whitewashed masonry, exposed concrete, natural finish woods, picture-window walls, large overhanging eaves and lanai that act as extensions of the interior spaces.