75-5849 Alii Drive
Land | 2.24 acres
Marketing description
75-5849 Ali’i Drive offers an exceptional development opportunity in the heart of Kailua-Kona’s vibrant resort district. Spanning approximately 2.238 acres, this prime parcel is strategically positioned just above the renowned Royal Kona Resort and within walking distance of the lively Ali’i Drive retail strip offering a variety of dining, shopping, experiential, and accommodation options.KEY FEATURES
P R E M I E R L O C A T I O N
Situated in one of Kailua-Kona’s most desirable areas, this property benefits from dual frontage, with approximately 125 feet on Ali’i Drive and 234 feet on Kuakini Highway, providing excellent visibility and access.
S I T E C H A R A C T E R I S T I C S
The irregularly shaped lot wraps around the Malia Kai residential condominium development. Its gentle slope towards the ocean enhances the potential for breathtaking ocean views, making it an ideal site for luxury developments.
D E V E L O P M E N T P O T E N T I A L
Previously granted SMA approval for a 93-unit condominium project comprising four, four-story buildings, the property holds significant potential for residential or hospitality developments. Although the approvals have expired, the existing plans can serve as a solid foundation for reapplication, offering investors a valuable head start.
C U L T U R A L S I G N I F I C A N C E
The property includes a designated archaeological preservation area, adding a unique cultural dimension to the development potential and aligning with Hawaii’s commitment to preserving its rich heritage.
F L E X I B L E Z O N I N G
The property is zoned V-1.0 Resort-Hotel, allowing for a diverse range of uses including multifamily residences, hotels, bed and breakfasts, daycare centers, single-family homes, medical clinics, short term vacation rentals, various retail opportunities, automobile service stations, and more. This zoning flexibility opens the door to numerous development possibilities. For a comprehensive list of permitted uses and regulations, please refer to the following link:
P R I M E I N F I L L L O C A T I O N
This infill location is perfectly suited for a variety of uses, including luxury apartments, condominiums, or boutique hotels, catering to the high-demand market in Kailua-Kona. For detailed plans and documentation, prospective investors can access the Virtual Deal Room via the following link:
Investment highlights
E X C E L L E N T L O C A T I O N
Nestled on the leeward side of the island, Historic Kailua-Kona Town is known for its idyllic year-round climate, making it sought-after destination for both tourists and residents. The property’s location offers the perfect balance of tranquility and accessibility, providing a unique opportunity for development in this charming coastal town.
F L E X I B L E H A W A I I I S L A N D Z O N I N G
The Hawaii Island Zoning V-1.0 Resort Hotel designation indeed permits a diverse set of uses within resort areas, including hotels, vacation rentals, condominiums, apartments and other uses. This flexibility offers investors the chance to create a dynamic development tailored to the evolving demands of the Kailua Kona resort market.
I N T H E H E A R T O F K A I L U A - K O N A
75-5849 Ali’i Drive is in the heart of Kailua Kona’s vibrant resort area. Its prime location ensures easy access to a variety of attractions, including beautiful beach parks, diverse shopping options, and pleasant dining experiences all within walking distance from this Ali’i Drive fronting property. The property boasts significant frontage on both Ali’i Drive and Kuakini Highway, enhancing its visibility and accessibility..
H I G H B A R R I E R M A R K E T
Kailua-Kona is characterized by its supply constrained high barrier market. The limited availability of developable and properly zoned land contributes to the ongoing upward pressure on rents, making this property a valuable asset in an exceptionally tight market. Investors can capitalize on these favorable market conditions to achieve strong returns.
P R I M E R E S O R T A R E A
Situation directly across from the iconic Royal Kona Resort, this property enjoys unparalleled proximity to one of the region’s most prestigious resorts. Its location in a prime resort area enhances its appeal for luxury developments and ensures a steady stream of potential guests and visitors. Nearby hotels include the Royal Kona Resort, Kona Reef Resort, and Kona Billfisher, to name a few. Located across the street from the iconic Royal Kona.
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