This famous, one of a kind, Ocean-side Private Oasis, successful income producing, residential estate consisting of secluded private villas located on the east side of the Big Island, is aptly titled and well known in Hawaii and beyond by world class travelers as Shangri-La. Islands Magazine ranked Shangri-La No. 9 in Islands Magazine top 10 Best Luxury Villas in the World! Income for 2016 exceeded $200,000 and there is still great potential upside depending upon how often family and friends use the property, which currently produces a cap rate of over 9%! This estate is located in the only gated, ocean front community on the East side of the Big Island known as Kapoho Beach. Three separate contiguous parcels have recently been consolidated into 1 lot to create over half an acre of naturally fresh and saltwater therapeutic bathing lagoons averaging 90 degrees which surround the 4 living structures: The Round House, The Tea House Bungalow, The Floating Balinese Sleeping Hut (accessed by swimming or foot bridge) and, the Main Hale which has two attached king bedrooms along with an indoor and luxurious outdoor full bathroom. This outdoor bathroom is something you’d have on your wish list from well-known home improvement magazines with its own outdoor shower, Japanese Ofuro tub, double vanity and private sauna; truly a dream outdoor ultimate bathroom. There is also a second outdoor bathroom for the Tea House Bungalow next to a lava-rock waterfall. The lagoon is refreshed daily by the ocean’s tide, the crystal clear tropical fish-filled ponds are your private aquarium. The total lot size is now 22,000 Sqft. and the land area (not including the lagoon) is about 14,000 Sqft. There is a sheltered 2-car garage and parking for an additional 4 cars within the compound gates. A new owner could consider a remodel or future new home up to approximately 8K Sqft if built as a two-story home. With the recently permitted guest house, the square footage of living space is 2,400. Owner has made capital improvements over $400K since his purchase in 2007. Recent improvements include new high end synthetic roofing with ceramic nails on the Round House and the Main Hale, remodeled guest house and deck, new garage roof, new washer and dryer, mirrored wardrobes, new range/stove, brand new professional grade patina concrete stained flooring, new furnishings, exotic evening outdoor lighting and pond lights within the lagoon which provide for amazing night swims. New pathway lighting, fencing and landscaping; constantly maintained in excellent condition. Literally less than a one-minute walk to the open sea and 10 minutes to the world-famous Champagne Ponds. The secluded compound can sleep up to 8. Hilo International Airport is approx. 30 minutes away. As defined, Shangri-La is: “A remote paradise on earth, Utopia, a distant and secluded hideaway of great beauty and peacefulness.” This is it!
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Travel Writer, Bret Love wrote:
“As a travel writer by profession, I’ve stayed in some of the finest hotels, lodges, b&b’s and cabins all over the world. In all honesty, I’ve never seen anything like Shangri’Lain my 30 years of travels, and I sincerely doubt I ever shall again. If I could, I’d pack the huts, the lagoon, and the décor (especially the fish!) into my carry-on bags so I could take the Shangri’La vibe with me everywhere I go. Kudos for your distinctive vision for this property. We hate to leave, and I can’t wait to tell all of my reders about your little slice of paradise!”
– Bret Love, Atlanta, GA
Kohala Coast Properties