International real estate investment and services firm Kennedy Wilson has acquired Wai’nani at Kiahuna, a residential subdivision in the established resort area of Poipu Beach on the island of Kauai in Hawaii.
The property consists of 63 finished lots and six completed single family homes on a total of 17.3 acres situated on the resort’s golf course, which was designed by Robert Trent Jones II. The acquisition was completed through Kennedy Wilson’s Property Fund III, which targets real estate in the western US and Hawaii. “We have always liked the fundamentals of investing in Hawaii real estate such as high barriers to entry and an extremely difficult entitlement process,” said Mary Ricks, executive vice chair of Kennedy Wilson. “The company has been investing in Hawaii real estate since the mid 1990s, so this deal was the result of our experience and knowledge of the market in addition to our relationships.”
Over the past two decades, Kennedy Wilson has acquired over 7,000 acres of Hawaiian land and been involved in numerous projects throughout the Hawaiian islands. The company maintains offices on Oahu and Hawaii and plans to auction the six single family homes before the end of the year.
Poipu Beach's other golf course, known as Poipu Bay, is currently undergoing a greens renovation.