San Francisco, CA

Lynch Plans Land Development on Big Island of Hawaii

For immediate release:

A San Francisco-based group led by Lynch Investments, LLC, has acquired an 866-acre parcel adjacent to Waikoloa Village on the Big Island of Hawaii, for a price of $10 million. The property, known as Waikoloa Heights, sits on the western slope of the island, strategically positioned above some of the most exclusive resorts on the islands. The acreage is already zoned for 10,000 square foot single-family home sites, making it one of the few such parcels available on the Big Island.

Lynch plans an initial phase that will include the subdivision of 46 individual home sites plus additional development-sized parcels for subsequent phases ultimately yielding over 2,000 individual home sites. Included in the purchase price were entitlements for a certain amount of sewer and water service that will allow for a more expeditious development process, according to Lynch.

Hawaiian real estate lay depressed for more than a decade following the deep recession in the Japanese economy that began in the late 1980's and therefore missed the steep increases experienced on the mainland during that period. Now, however, Hawaii appears to be in the initial stages of a real estate boom not unlike what the mainland experienced from the mid 1990's through the present. Currently, absorption is high and sales of both lots and homes are strong with prices rising and expected to continue doing so in response to increased demand.

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