OPEN TODAY 8/2 2-5p - 1638 Laukahi St. in Honolulu (Waialae Iki)

OPEN WED 8/5 9:30-11:30am & SUNDAY 8/9 2-5pm - VIDEO TOUR HERE This is a remarkable mid-century style Honolulu home by architect Owen Chock. Enjoy gorgeous ocean and Diamond Head views in this remodeled residence that still retains its charming midcentury feel. Vaulted ceilings, hardwood floors, multiple lanais, and a wood-burning fireplace are other features of this beautiful Waialae Iki view home, listed at $2,099,000 FS.

Besides a wonderful indoor-outdoor lifestyle, you’ll enjoy a gorgeous, new chef’s kitchen with custom cabinetry, high-end Electrolux and Frigidaire stainless steel appliances, stainless steel apron-front since, and of course, an ocean view. This home also features a spacious, master suite with stunning views, a lanai overlooking the swimming pool, and a new spa-like bathroom, with Grohe fixtures and double sinks, a shower with a view of Diamond Head, and a walk-in closet.

There are 4 bedrooms and 2 and 1/2 bathrooms in the upper part of the house. There is also a recreation room with another full bath, down by the sparkling, blue-tiled swimming pool, for a total of 5 possible bedrooms and 3.5 bathrooms. Plenty of room for family and friends in this 2,943 sq ft home!

This Honolulu home is on a private and peaceful rim lot of 10,705 sq ft, backing up to preservation land, in desirable Waialae Iki, close to Kahala Mall and other shopping and restaurants.

The exterior has been completely repainted, and features a Wayne Dalton garage door, and a reglazed Monier tile roof. There are also newly re-tiled slate lanais on the front and side of this lovely Honolulu home for sale. The beautiful, private, landscaped and sprinklered, muti-use outdoor space for gathering and entertaining, makes this home a complete package!

Video Tour  Open Wednesday August 5, 9:30-11:30am and Sunday August 9, 2-5pm

Complete Photo Gallery of 1638 Laukahi Street Waialae Iki Below.

Contact Listing Broker: Yvonne Jaramillo Ahearn (B) at 808-721-8088, for a private showing.

Conveyance Tax Increase for Sellers of Luxury Homes on Oahu

UPDATE: The Governor Did Sign This Into Law.
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Yesterday, the Hawaii Legislature passed House Bill 1741 which (among many other things) aims to increase the conveyance taxes on the seller for the sale of properties priced at $2 Million and more. If Governor Lingle signs this bill, conveyance taxes will go from the current tiered structure, for owner-occupied homes, ranging from 10 cents to 30 cents per 100 dollars in purchase price:

OLD
10 cents per $100 - Property Price $0-$599,999 (15 cents for non-owner occupied)
20 cents per $100 - Property Price $600,000 - $999,999 (25 cents for non-owner occupied)
30 cents per $100 - Property Price $1M and up (35 cents for non-owner occupied)

to a new structure, that raises taxes to 50 cents to a dollar per $100, for owner-occupied purchases fo homes priced at $2M or more, and 60 cents to $1.25 for purchasers of these homes living elsewhere.

NEW
10 cents per $100 - Property Price $0-$599,999 (15 cents for non-owner occupied)
20 cents per $100 - Property Price $600,000 - $999,999 (25 cents for non-owner occupied)
30 cents per $100 - Property Price $1M - $1,999,999 (40 cents for non-owner occupied)
50 cents per $100 - Property Price $2 M - $3,999,999(60 cents for non-owner occupied)
70 cents per $100 - Property Price $4 M - $5,999,999(85 cents for non-owner occupied)
90 cents per $100 - Property Price $6 M - $9,999,999($1.10 for non-owner occupied)
$1 per $100 - Property Price $10 M and up ($1.25 cents for non-owner occupied)

So, for a $2 Million owner-occupied home the conveyance tax would increase $6,000 to $10,000, or 67%. For a non-ower occupied home of $2M the tax would increase from $7,000 to $12,000, or 71%.

For a $10 Million owner-occupied home the tax would increase from $30,000 to $100,000, or 233%. For a non-ower occupied home of $10M the tax would increase from $35,000 to $125,000, or 257%.

http://www.capitol.hawaii.gov/session2009/Bills/HB1741_sd1_.pdf

You may ask, why is the SELLER responsible for more taxes when the BUYER is an investor? Good question - that is a factor that Sellers may wish to consider and possibly, negotiate with an investor/buyer in a transaction.

Stay tuned to hear what happens.