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.<br><br>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. <br><br>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. <br><br>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. <br><br>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.<br><br>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.<br><br>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. <br><br>Offering Memorandum available by request.
Property Details
Property Features
Property Information:
Year Built: 1987
Living Area: 2,758 SqFt
Listing Office:
Office Name: KW Big Island
Interior Features
Interior Information:
Appliances: Convection Oven, Disposal, Dishwasher, Electric Cooktop, Microwave, Refrigerator, Range Hood, Wine Cooler
Those properties marked with Hawaii Information Service's icon are provided courtesy of Hawaii Information Service Multiple Listing Service™ system. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/28/2024, 3:25:18 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
5
/10
Kahakai Elementary School
76-147 Royal Poinciana Dr
Distance between this listing and this school4.05 miles
Public District Grades PK-5
Middle School
5
/10
Konawaena Middle School
81-1045 Konawaena School Rd
Distance between this listing and this school4.24 miles
Public District Grades 6-8
High School
5
/10
Konawaena High School
81-1043 Konawaena School Rd
Distance between this listing and this school4.32 miles
Public District Grades 9-12
Assigned Schools
5
/10
Kahakai Elementary School
76-147 Royal Poinciana Dr
Distance between this listing and this school4.05 miles
Public District Grades PK-5
Nearby Schools
6
/10
Konawaena Elementary School
81-901 Onouli Rd
Distance between this listing and this school4.25 miles
Public District Grades PK-5
6
/10
Holualoa Elementary School
76-5957 Mamalahoa Hwy
Distance between this listing and this school4.32 miles
Public District Grades PK-5
Assigned Schools
5
/10
Konawaena Middle School
81-1045 Konawaena School Rd
Distance between this listing and this school4.24 miles
Public District Grades 6-8
Nearby Schools
8
/10
Kona Pacific - Public Charter School
79-7595 Mamalahoa Hwy
Distance between this listing and this school3.58 miles
Public Charter Grades KG-8
8
/10
Innovations - Public Charter School
75-5815 Queen Kaahumanu Hwy
Distance between this listing and this school5.35 miles
Public Charter Grades KG-8
Assigned Schools
5
/10
Konawaena High School
81-1043 Konawaena School Rd
Distance between this listing and this school4.32 miles
Public District Grades 9-12
Nearby Schools
9
/10
Ke Kula O Ehunuikaimalino
81-1041 Konawaena School Rd
Distance between this listing and this school4.24 miles
Public District Grades PK-12
3
/10
Kealakehe High School
74-5000 Puohulihuli St
Distance between this listing and this school8.16 miles
The neighbors living near this home have an average income of $61,680. Most North Kona, HI residents have annual incomes between $35k-100k. The majority of families are single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 78-6626 Alii Dr
What is the listing price of this property?
The listing price of 78-6626 Alii Dr property is $4,995,000.
What type of property is this?
The property 78-6626 Alii Dr is a house located in Kailua-Kona, Hawaii, 96740.
Is this property for sale now?
Accepting Backup Offers: 78-6626 Alii Dr is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.
What are the assigned schools for this property?
The assigned schools for 78-6626 Alii Dr are: Kahakai Elementary School: GreatSchools Rating 5/10Konawaena Middle School: GreatSchools Rating 5/10Konawaena High School: GreatSchools Rating 5/10
How many bedrooms and bathrooms does this property have?
The property at 78-6626 Alii Dr has 5 bedrooms and 5 bathrooms.
What is the square footage of this property?
The property 78-6626 Alii Dr is 2,758 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 78-6626 Alii Dr is 1987.
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This home is located at 78-6626 Alii Dr in Kailua-Kona, HI and zip code 96740. This 2,758 square foot home was built in 1987. Features: 5 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since February 23, 2024 and is currently priced at $4,995,000.
The number of listings in North Kona, HI increased by 1.1% between February 2024 and March 2024. While the average time on the market in March 2024 was 739 days, the median list price was $875,027.
From Rocket Homes Real Estate and based on county public records data.
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