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PUAINAKO EXTENSION Lot #: 51, Hilo, HI 96720

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For Sale

$6,340,000

130 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • Newly Listed
    Time on Century 21

  • 130 acres
    Lot size

Explore this Property

Puainako Heights is a fee simple, residential development opportunity located approximately five miles above Hilo, on the Big Island of Hawaii.<br><br>The project is currently zoned for 440 units, in both single- and multi-family configurations. The number of allowed units may be increased to 820 with approval from the County.<br>The site encompasses approximately 130 usable acres and 57 separate tax parcels.<br>- State Land Use Designation is Urban<br>- County Zoning is RS-7.5, with 34 acres zoned RM-4<br>- 317 water meters are reserved for Puainako Heights through the Department of Water Supply<br><br>The property is in foreclosure, and presents a unique opportunity for an experienced real estate developer or long-term investor. Offered at roughly $50,00 per-acre, or $20,000 per-water-unit, the site may be developed as a fee simple neighborhood and/or build-to-rent community. The scarcity of development sites near Hilo, commitment of municipal water service, and proximity to Kona, should preserve and increase the value of Puainako Heights as a long-term asset.<br><br>Additionally, RM zoning allows the following uses:<br>- Single- or multi-family housing<br>- Adult day care homes<br>- Boarding facilities, rooming, or lodging houses<br>- Care homes, with a County Use Permit<br>- Community Buildings, as permitted in Hawaii County Code Section 25-4-11<br>- Day care centers, with a County Use Permit<br>- Group living facilities<br>- Medical clinics, with a County Use Permit<br>- Meeting facilities<br>- Short-term vacation rentals, within a condominium property regime<br><br>Due to the Puainako Heights' status as the subject of a foreclosure action, the Court of the Third Circuit requires property-specific disclosures to be made to potential Buyers. Disclosures are available to interested parties.
MLS# 716708

Courtesy Of ReMax Properties

(808) 935-9800

Property Features

  • Amenities
    Dock
  • Architecture Style
    Other
  • Lot Size
    130 Acres

Map and Directions

Directions to PUAINAKO EXTENSION Lot #: 51, Hilo, HI 96720

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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