Auction Announced for Properties on Hawaiian Island of Lana’i
World travelers and celebrities frequently spend time on the Hawaiian island of Lana’i. On Sun., Jan. 16th, Accelerated Marketing Partners (AMP) will auction off 11 new, luxury condominium residences and three oceanview homesites on the Hawaiian island of Lana’i. Opening bids will range between $435,000 and $845,000 — up to 68 percent below previous asking prices, which makes up more than $20.5 million worth of real estate.
Each property is located within one of four developments owned by Castle & Cooke in the areas of Oceanside Manele and Upcountry Ko’ele.
The Terraces is offering one 1,564-square-foot, tw0-bedroom, two-bath home with living area, gourmet kitchen and a gated-entry courtyard. With dramatic ocean views overlooking Jack Nicklaus’ Challenge at Manele golf course, this residence has an opening bid of $695,000, 54% below its asking price of $1.5 million.
The Palms at Manele has 4 three-bedroom, three- and one-half-bath luxury homes facing the 18th fairway of Challenge at Manele golf course and provide panoramic views of the Pacific Ocean and outer islands. Opening bids will begin at $845,000, 68% below previous asking prices from $2.525 million to $2.675 million.
Pu’upehe Estates has three homesites from approximately 25,351 square feet to 28,836 square feet awaiting architectural decisions. The homesites feature 180-degree panoramic ocean vistas from Pu’upehe Rock in the southeast to the Pacific horizon in the southwest. Opening bids range from $550,000 
to $650,000, 50% below previous asking prices from $1.1 million to $1.375 million.
The Pines at Koele have 6 two- to four-bedroom, two- and one-half-bath to three- and one-half- bath, single-family, detached condominium homes. All six homes range from 1,630 square feet to 2,166 square feet and boast mountain and valley views of the Ko’ele highlands, while also overlooking The Experience at Ko’ele golf course. Opening bids range from $435,000 to $465,000, 52% below previous asking prices of $750,000 to $965,000.
“Today’s economic environment has encouraged developers like Castle & Cooke to look to consumers to determine the current market value of some of Hawaii’s premier real estate,” said Harry Saunders, president of Castle & Cooke Hawaii, majority owner and developer of the island of Lana’i. “We look forward to results of the auction marketing efforts and are still committed to seeing out our vision for Lana’i, an island of tranquil living reminiscent of uncongested Hawaii of years ago, but now complete with modern resort amenities.”
Known as the ultimate second home and vacation retreat, Lana’i City is just a 25-minute plane ride from Honolulu or a 45-minute ferry ride from Maui. The oceanside Four Seasons Resort Lana’i at 
Manele Bay and the upcountry Four Seasons Resort Lodge at Ko’ele also bring an array of activities, including award-winning dining, Jack Nicklaus’ Challenge at Manele and Greg Norman’s Experience at Ko’ele golf courses and more.
While the auction will be help at Accelerated Marketing’s Southern California location, the auction information center, located at 431 Seventh Street in Lana’i City, Hawaii, and homes are open daily from 9:00 a.m. to 5:00 p.m. HST through Jan. 15. Advance registration is required and financing is available for qualified buyers through Hawaii Wells Fargo Private Mortgage Banking. All interested parties should check the auction website for the most up-to-date details at www.auctionlanai.com.
—Sonja York
