78-6626 ALII DR
KAILUA-KONA, HI 96740
- 5 beds
- 5 baths
- 2,758 sqft
- 14,530 sqft lot
- $1,811 per sqft
- 1987 build
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Meticulously renovated in 2022 under the guidance of esteemed design professionals, Mele Kai or “Ocean Song”, stands as a remarkable oceanfront masterpiece seeking its discerning new owner. On track to operate at a 8.76% cap rate in its next year, this property offers the rare opportunity to either maintain its successful vacation rental status or utilize its coveted Bed and Breakfast license to establish a first of its kind, luxury boutique hotel on the Big Island. Situated on two oceanfront parcels spanning 174’ of coastline, Mele Kai boasts direct access to tide pools, sandy beaches and the open ocean. Each individually rare, but an unparalleled combination along the Kona coast. Luxury permeates every aspect of Mele Kai, from Bertazzoni appliances in the kitchen to custom La Cantina folding doors seamlessly blending indoor and outdoor spaces. Its interior design captures the essence of coastal living, with a serene palette echoing the Pacific's dynamic colors. With each of the five bedrooms that open to the ocean, en-suite baths adorned with hand painted tiles and premium linens, guests are delivered a lavish retreat reminiscent of five star resorts. Outdoor amenities include a redesigned lap pool, lava rock waterfall, BBQ and expansive covered lanai. A perfect setting to enjoy morning Kona coffee or to witness the elusive green flash sunset. This property comes fully equipped for continued business success, including Bed and Breakfast license, property website, images, client databases and established relationships with travel partners and vendors. Mele Kai will appeal to astute investors as well as those seeking refined luxury coupled with lucrative income potential. Representing an irresistible opportunity for those looking to enhance their portfolio with a truly exceptional asset, Mele Kai is the apex of vacation rental investment properties on the Kona Coast. Offering Memorandum available by request.
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Last updated Apr 16, 2024
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MLS# 708176 —
Walk Score®
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Bike Score®
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Air Pollution Index
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Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/15/24
Apr 15, 2024
|
Sold | HISMLS | $4,995,000 | |
|
3/13/24
Mar 13, 2024
|
Sold Subject To Contingencies | HISMLS | $4,995,000 | |
|
2/26/24
Feb 26, 2024
|
Listed / Active | HISMLS | $4,995,000 | 177.5% (40.7% / YR) |