Golf News for Monday, December 16, 2013 | Real Estate

Hawaii's Kohanaiki community releases Shay Zak designed custom hales

Kohanaiki, the first new development on the Big Island of Hawaii in nearly a decade, announced the release of Shay Zak designed custom Hales. Following the successful debut of its one-acre estate home sites, Kohanaiki's Zak designed custom Hales mark the first finished product to be offered within this emerging private community, spanning along 1.5 miles of spectacular shoreline on the Kona Coast.

Located along the 9th fairway of Kohanaiki's Rees Jones-designed golf course, these pre-designed, finished luxury homes are conceived by renowned architect Shay Zak. Offering seamless indoor-outdoor living, and centrally located amidst the emerging private community at Kohanaiki, these custom Hales capture dramatic views of the 100-acre golf course - inspired by the destination's breathtaking natural beauty.

According to Zak, the strength of these luxury hale homes lies in the simplicity of design. All rooms are contained under one steeply-pitched, traditional Hawaiian roof form, which speaks to the Hawaiian heritage and calmness of place. The efficient layout provides an easy flow from room to room, and all rooms open generously to the outside.

"These are traditional Hawaiian hale homes with a crisp, clean, modern interpretation," said Zak. "We work hard to make our homes look very simple, yet chic, incorporating nice shapes, good proportions, and excellent materials. We want our houses to get out of the way and let the view and the feelings of being in Hawaii prevail."

Only 10 Zak designed custom Hales are being released, affording a select few the option of three- or four- bedroom single family homes with interior square footages from 2,393 to 2,683 and expansive lanais and double car enclosed garages, with prices starting at $3.2 million. Owners can simply choose a lot and home design. Kohanaiki will offer optional upgrades on the interior finishes, as well as a separate guest house, swimming pool and spa.

Each Zak designed custom Hale is constructed using elegant natural materials throughout, including Basalt stone flooring, Puka Lava boarders, and Mahogany wood accents to the windows, doors and cabinetry. The 17-foot tall vaulted ceilings are finished in Western Red Cedar. Outside, the walls have a smooth steel trowel stucco finish or alternately a Western Red Cedar siding, with Western Red Cedar sawn roof shingles and overhangs. All Hales are constructed using eco-sensitive building practices that respect the natural beauty of the site. Outfitted with high-end appliances and fixtures, including Wolf gas ranges, Subzero refrigerators, Hans Grohe kitchen faucets, and Franke large stainless steel kitchen sinks, these Hales offer luxurious living and superb quality in a private resort setting without excess.

Benefits of ownership at Kohanaiki include an opportunity for invitation to the Kohanaiki Club. Kohanaiki Club members and their guests enjoy exclusive access to an 18-hole golf course designed by Rees Jones which promises to delight and challenge amateurs and novices alike, a wonderfully stylish oceanfront Beach Club Restaurant and Bar offering individual wine storage, an on-site organic community farm, a world-class spa and fitness center with cross-training course, tennis courts, and a broad array of activities organized by Kohanaiki's Adventure "A-Team."

Led by the "A-Team," Kohanaiki promotes an active lifestyle, providing the best in surfing, fishing, stand-up paddle boarding, body boarding, canoe paddling, hiking, cycling, snorkeling, and "Kohanaiki Fit," or "K-Fit," a signature program developed by trainer Todd Clark to blend a challenging and invigorating fitness program within a breathtaking outdoor setting.

The first Zak designed custom Hales are scheduled for completion in fall 2014. Potential buyers who wish to preview Kohanaiki can call 808.640.6832 or e-mail jmetzler@kohanaiki.com. To learn more about the private community, visit www.kohanaiki.com.

Kohanaiki is owned by a partnership between two sophisticated real estate investment groups, Kennedy Wilson and IHP Capital Partners, which together provide complete capital support.

About IHP Capital Partners
IHP Capital Partners is one of the nation's largest privately owned investment firms providing equity financing for residential development. The firm invests institutional capital in for-sale residential real estate communities throughout the United States. IHP and its investment partners have created neighborhoods and communities in more than 230 active and completed projects in 15 states valued at more than $19 billion. With over 20 years in the industry, IHP has established multiple residential equity funds with equity commitments totaling approximately $1.7 billion from CalPERS, CalSTRS, Pacific Life Insurance Company and The Northwestern Mutual Life Insurance Company. www.ihpinc.com/

About Kennedy Wilson
Founded in 1977, Kennedy Wilson is an international real estate investment and services company headquartered in Beverly Hills, CA with 24 offices in the U.S., U.K., Ireland, Spain and Japan. The company offers a comprehensive array of real estate services including auction, conventional sales, property services, research and investment management. Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor of real estate investments in the U.S., U.K., Ireland and Japan. For further information on Kennedy Wilson, please visit www.kennedywilson.com.

Media contacts: Jennifer Wade, Jenna Hudson, Nicole Kraft, and Brittany Welby at Glodow Nead Communications, 415.394.6500 or jenn@glodownead.com.