PO‘IPU — Kaua‘i Realtor Hannah Sirois recently closed on the Ka Lae Kiki estate on the Poipu oceanfront for $10.5 million.
Sirois Kaua‘i, a partner of Corcoran Pacific Properties, sold the property that Los Angeles developer Lowry McCaslin purchased more than 60 years ago for his family and was destroyed by Hurricane ‘Iwa in 1982.
According to a Wall Street Journal article that named the South Shore estate the 2020 House of the Year, the house was rebuilt after the hurricane.
The property was originally listed at $18.5 million, and received accolades from the Wall Street Journal because of the feelings the property evokes, Sirois said.
Ka Lae Kiki estate became the highest single-family residential sale in Po‘ipu. The previous high was a four-bedroom home with ocean views that sold for $8.3 million at Kukui‘ula.
Designed by James Morton, who designed the Kiahuna Plantation and developed a knack for creating properties that “rested” and didn’t overpower the real estate.
“Ka Lae Kiki evokes the feeling of solitude, an ideal tropical oasis without the fluff,” Sirois said. “His design gently unveils the setting and presents astounding views up and down the coastline.”
Built to last
The saltwater pool that extends out in the Pacific Ocean is the only original feature, the article states.
The current home, which was transformed into a 3,324-square-foot home completed in 1999, has its foundation raised 13 feet above sea level, and has 92 concrete columns to support the structure, which is in compliance with updated hurricane standards.
The property has four bedrooms, three and a half bathrooms, and cost $1.3 million to build.
The story
behind the estate
The story behind the Ka Lae Kiki Estate and the fact the property hadn’t been on the market in over 60 years only added value, Sirois said.
“Ka Lae Kiki allowed for any prospective purchaser to consider the fact that a property like this is rare,” Sirois said. “And (a property like this) seldom trades.”
The authentic nature of the property is another appealing factor to why this estate has received so much attention on the open market and from national publications.
“The addition of an authentic story to due-diligence materials and the marketing of real estate at this level demystifies the property and affords a sense of place,” Sirois said. “The context allows for any prospective purchaser to understand and connect with the property.”
Working from home
The COVID-19 pandemic has drastically changed the course of the economy, and has altered the landscape of recent buying trends.
“The trend toward remote work changed the playing field, and beautiful places like Kaua‘i and other small towns as far away as Maine morphed into Zoom-towns (not boom-towns) seemingly overnight,” Sirois said. “Across the state, Realtors have seen a surge in demand sparked by the insatiable allure for our climate, culture, peace and way of life.”
Whether in a pandemic or not, the market always remains in a state of flux, and can be altered by several variables.
“What can I say here that I haven’t said before?” Sirois asked. “Not much. We’ve always experienced supply issues on Kaua‘i when coupling this fact with historically low interest rates and a wonderful place to call home.”
•••
Jason Blasco, reporter, can be reached at 245-0437 or jblasco@thegardenisland.com.
