IOLANI 76-863 Pakalakala Pl in IOLANI | MLS® 720229 For Sale $4,898,000 in North Kona, Hawaii

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Welcome to the Sky Estate— where ocean, horizon, and sky converge through a magnificent 30-ft floor-to-ceiling glass wall that provides incredible Kona ocean views. This vantage point is far more than just a panoramic view—it’s a calming experience that blends refined luxury with modern comfort. Spanning over 7,500 sq ft of thoughtfully designed living space, this contemporary sanctuary features 4 ensuite bedrooms, 4 1/2 bathrooms, a media/family room, a dedicated office, a fully equipped gym, and a spacious gourmet kitchen. The estate is offered fully furnished with modern furniture and decor professionally curated to create a cohesive living space. Every inch of this spacious estate serves a purpose, creating a serene atmosphere reminiscent of a luxury five-star resort. The infinity-edge saltwater pool and expansive pool deck captures the gentle Kona breeze, while the large private gym supports a daily practice of mind-body rejuvenation. Architecturally designed with both family life and a luxury retreat in mind, the home’s airy indoor-outdoor design fosters togetherness. Whether you’re enjoying a movie in the surround sound media room or dining on the lanai at sunset or relaxing in one of the many open-concept gathering spaces, you’ll discover that tranquility is woven into every detail. Unwind around the fire pit, where Kona sunsets become unforgettable evenings under starry skies. A lower lawn and lush gardens provide ample space for family activities. The extended garage offers showroom flooring, built-in cabinets, an EV charger, as well as generous space for vehicles, sports gear, and beach essentials. The Sky Estate is only 5 min from Kona Town, picturesque beaches, and a 15 min drive to Kona Airport. Intuitive technology ensures seamless upkeep, making this property an excellent choice for second-home owners seeking an effortless retreat.

HIND SUBDIVISION 76-981 Aeo St, North Kona

$4,895,000 - 4 Beds, 5.00 Baths, 7,542 Sf

MLS® # 719590

Aloha Sotheby's International Realty Inc.

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Proven Income-Producing Vacation Rental House in Kona's Oceanfront Resort Zone Gated Community – No STVR Restrictions

Maximize your return with this luxury investment property in Kailua Kona’s exclusive ocean-front, gated resort-zoned enclave of Ke Alohi Kai—where short-term vacation rentals are fully permitted and protected, with no risk of future regulation changes or permit loss.

This high-performing asset has consistently delivered strong financials:

2022: $295,342 gross revenue
→ NOI: $205,071 | CAP Rate: ~5%

2023: $336,045 gross revenue
→ NOI: $245,774 | CAP Rate: ~6%

2024: $275,422 gross revenue
→ NOI: $185,151 | CAP Rate: ~4.6%

2025 (Q1 only): $100,000 gross — a record-breaking start, signaling potential for highest revenue year yet

These figures are based on average operating expenses of $90,271/year (which may vary for a different owner and year), delivering real, verifiable cash flow. With upside in rates and bookings, this property presents a compelling CAP rate and long-term value.

This 4-bedroom, 7-bathroom custom-built residence spans 4,035 sq. ft. on a 10,034 sq. ft. lot in the gated oceanfront community of Ke Alohi Kai. Thoughtfully designed for seamless indoor-outdoor living, it features a zero-edge pool, cascading spa, and expansive pocket sliding doors.

Each bedroom offers a private lanai and ensuite bath, with the primary suite opening directly to the pool and featuring a jetted tub. Recent upgrades include a photovoltaic (PV) solar system and enhanced air conditioning, adding energy efficiency and comfort.

Located just a short walk from Magic Sands Beach and popular local restaurants, the home also includes two sitting areas, large living and dining spaces, central vacuum, and lush tropical landscaping behind stone walls and wooden gates.

KE ALOHI KAI SUBDIVISION 77-212 Ke Alohi Kai Pl, North Kona

$3,995,000 - 4 Beds, 7.00 Baths, 4,035 Sf

MLS® # 721754

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Perched at an ideal elevation in Wehilani, this 5-acre gentleman's farm offers ocean vistas, privacy, and abundant fruit trees. The 2,959sf single-level home features a bright, open floor plan, 1,200sf of covered lanai, saltwater pool, and hot tub. Built in 2002 and remodeled in 2023, it includes mango wood cabinetry, quartz countertops, slate floors, and wood pocket doors opening to the lanai. The primary suite has bamboo flooring and ocean-garden views, while the manicured lawn adds charm and depth. A detached garage with carport, storage, and art studio (2014) adds versatility. An approved site for a future farm dwelling ensures privacy. Eco-living includes 28 owned solar panels, net metering, and solar pool heating. Terraced grounds host hundreds of coffee trees and a thriving orchard with mango, lychee, avocado, papaya, citrus, rambutan, and more. Rock walls and fencing enclose this rare estate—blending luxury, sustainability, and resort-style living in Kona’s tropical paradise.

Wehilani 75-399 Wehilani Drive, Kailua Kona

$3,995,000 - 3 Beds, 3.00 Baths, 2,959 Sf

MLS® # 202513453

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IOLANI

$4,898,000

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IOLANI

$4,898,000

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