POSTED: 06:49 a.m. HST, Jul 22, 2014
LAST UPDATED: 01:56 p.m. HST, Jul 22, 2014
An unnamed private investor and developer has added 6.6 acres to the five lots previously purchased at the luxe Hawaii island resort area, paving the way for construction of 17 more luxury homes.
The investor and developer, a member of Hualalai Resort, was not identified in the company statement announcing the transaction.
Separately, another investor, Vancouver-based Ecoasis, already has begun construction on the first four lots it purchased in Hualalai.
The total of 21 planned homes will be priced from $5 million to $9 million, with sales expected to begin later this year, according to officials with Hualalai Resort and Hualalai Realty.
Sales of residential estates in Hualalai have exceeded $101 million in the first six months of the year, with an average price of $9.7 million, $2 million higher than in 2013.