Waimea homes selling fast
By Hugh Clark
Advertiser Big Island Bureau
WAIMEA, Hawai'i — The largest inland development in years on the Big Island is off to a fast start, with more than half of the homes available in the project's first phase already sold.
The first of probably four phases of Holo Holo Ku, an upscale condominium development in a Parker Ranch cow pasture, was launched in ceremonial groundbreaking Friday by Kamuela Associates LLC. The group is led by Rick Rainalter of Honolulu.
The 44 units in the first phase range from $279,000 for "ranch cottages" to $489,000 for "ranch houses." Monthly maintenance fees will be as much as $343. Up to 130 units are expected by the time the project is done.
Unlike most other West Hawai'i projects of the past 20 years, this development does not deal with ocean views. This one, on the plateau between the Kohala Mountains and Mauna Kea, emphasizes views of both mountain areas.
The development is part of Parker Ranch's 2020 plan launched by the late owner Richard Smart, who envisioned more home sites and commercial and industrial areas in this community in transition. Waimea is a growing regional center that is home to four astronomy observatory base facilities and two private high schools.
The project is on 8.5 acres of ranch land, with the surrounding area dedicated to continued ranching. The site is south of the Pukalani Stables in Waimea near Parker Ranch's shopping center, now under renovation, and North Hawai'i Community Hospital.
A portion of the stables has been converted into a sales office.
There are a number of restrictions in the project, including essentially a ban on bed-and-breakfast operations because any rental agreement will require a minimum 30-day term.
"This will be a community within a community," said Alex Smith, a sales agent for Parker Ranch Realty.
Reach Hugh Clark at 935-3916 or hclark@honoluluadvertiser.com
