-------------------------------------------------------------------------------------------------------------------------------
I was recently contacted by my coworker and he asked me if I knew anything about seawalls in reference to beachfront properties. This got my thinking. What happens if you own a beachfront property and erosion destroys your home?
Over the years, many homeowners have illegally constructed seawalls to protect their home. Interestingly, experts say seawalls are destroying the beaches. This is alarming since Hawaii is known for its iconic beaches.
In a recent Star Advertiser article, the Hawaii Board of Land and Natural Resources noted that Oahu has lost approximately one-quarter of its beaches from shoreline hardening. This problem can get worse if the state does not enforce stricter policies.
So what happens if your beachfront home is at risk?
Many years ago, the Hawaii Board of Land and Natural Resources adopted a no tolerance policy towards new seawalls. Despite taking this harsh stance, homeowners are still constructing illegal seawalls and some homeowners have been granted exemptions.
The state is stuck in a tough place because they are balancing homeowner and public interest. Both of these sides are conflicting because if seawall exemptions were not granted, homes could be lost. At the same time, beaches are being destroyed.
There is a pressing concern at Kahana Bay on Maui. According to a recent Civil Beat article, nearly 1,000 condo owners are trying to find a solution to save their homes. Due to erosion, there is less than 6 feet of land from the condo to the high water mark. Stakeholders estimate the it could cost upwards of $40 million to grow the vanishing beach by 65 feet over the next few years.
It will be interesting to see how this all plays out. Then again, I will not be surprise if the state keeps kicking the can down the street.
In Escrow
My client's offer was accepted on a 2-bedroom/1-bathroom condo in Makiki. Despite our competitive housing market, we were able to negotiate the price well below the list price too!
Prior to listing, the owner repainted, added new flooring, and completely remodeled the kitchen and bathroom. The unit comes with a full size parking stall right outside the unit and the features a very spacious lanai.
What also impressed us was how well maintained the common areas were. Despite being an older property, the condo documents showed the association is proactive in managing the condo.
Here is the icing on the cake: The maintenance fee is low (around 52 cents per living SF), we secured the unit for less than $400,000, and we were able to lock a very low mortgage rate. Good times!
Ramblings
Portlock
After a long legal dispute, city crews removed a gate that blocked a public pathway to the beach in Portlock. The gate was illegally constructed by a neighboring homeowner. The neighbor claimed there was an increase in crime and vandalism. In a Hawaii News Now article, City Council Chair Tommy Waters said, "We asked them to take it down on his own. He did not. So the city sent the crew out there today with HPD, and they took it down." Waters continued, "The ocean is there for everybody’s use, keiki, kupuna and everybody in between,” said Waters. “It doesn’t belong to the people who live right there, and putting up a gate is just not acceptable.”
New Development
There are two "park" developments coming up in Honolulu. The Park will be a new condo located in Ward Village; the condo will be on old Sports Authority lot.
The Park On Keaamoku is a new condo being developed by Nan Inc. Sky Ala Moana, Azure, and The Central are other new residential condo developments in the Kapiolani corridor.
In West Oahu, Castle & Cooke recently announced Malina at Koa Ridge. Malina at Koa Ridge will be affordable one, two, and three bedroom townhomes.
In addition, DR Horton Kaiko at Hoopili. Kaiko at Hoopili will be affordable studio, one, two, and three bedroom townhomes.
-Roda