All Forum Posts by: Jason Eisert

I’m reaching out to this group because I’m in a bit of a tough spot and could use some help. I own and manage an incredible property called the Kailua Kona Estate (you can find more details at www.kailuakonaestate.com). This home has been described by building department officials as the largest residential home on the Big Island, featuring an impressive 100-foot pool.

I purchased the property in 2021 when it was in a severely dilapidated state. The previous owners invested over $12M into building it between 2009-2012 but then left it vacant for years, allowing it to naturally age. Since acquiring it, I’ve fully renovated the property and transformed it into a successful short-term rental on 5 acres of land. Additionally, I own an adjacent parcel with 5 acres of coffee and have obtained permits to operate an agricultural tourism business there, with entitlements to build two more dwellings.

The estate is situated within a gated community, and while it’s a remarkable property with a lot of unique features, I’ve encountered some pushback from the neighbors, which has made me reconsider my position here. Despite my success with the property (we’re in the top 1% of homes on Airbnb), I’ve come to realize that it might be time to move on and sell.

In January 2022, after some initial renovations, the house was appraised at $9M, with the land likely valued at $1.2M. Since then, I’ve invested over $500,000 more into the property, so I believe the current value should be around $11-12M. However, given its design and commercial-like feel—originally built as a retreat center with a strong Japanese influence—I’m uncertain about the best market to target for a sale.

I’m hoping that someone in this group might have connections or advice on how to approach selling a property like this. I’m particularly interested in exploring international markets, given the unique characteristics of the home. As a realtor myself, I’m open to any referrals or suggestions on who might be interested in such a distinctive property. 

Thank you for any insights or help you can provide!

 I’ll let you know what I find! 

 Just started looking. I'll have to reach out to insurance commissioner.

 I'll try reaching out to KIN insurance.

Hello everyone! My insurance broker informed me that my insurance policy is being canceled, which is happening to many providers in Hawaii following the Lahaina fires. I have no claims on the insurance. I own a short-term rental property that operates much like a hotel, so I carry large commercial insurance. Has anyone else faced a similar situation? I would appreciate any advice on how to handle this, as well as recommendations for reliable insurance agents.

Thank you!

Aloha! I'm reaching out looking for suggestions on a unique challenge I'm facing with a direct mail campaign. I have a mailing list of over 3000 recipients and are aiming for a personal touch with letters that appear handwritten and are signed in ink. Ideally, we want the entire process to be managed locally to Hawaii to maintain authenticity and manage logistics effectively (stamps from Hawaii and not the mainland).

Unfortunately, I haven't found a local company on the Big Island that offers these services. If you know of any service providers who can write and prepare these letters, possibly on the mainland, and then ship them to me for a final local dispatch, I would greatly appreciate your recommendations. We are striving to avoid the appearance of the mailers being sent from the mainland, so any creative solutions or contacts in this realm would be incredibly valuable.

Thank you for any insights or contacts you could share. I look forward to your suggestions and hope we can find a suitable way to create a memorable experience for our recipients.

We do have a direct booking site really hard to compare our house to the market standard because we do not fit within the cookie cutter Airbnb that most of Airdna represents. 

it feels like we are in a completely different sector than any any Airbnb because of the uniqueness of the property. What I mean by that is it almost feels like Airbnb isn’t the platform we should be using to rent this place out. Some of that stems from the fact that there are no comparables but a lot of it stems from the fact that everyone from Airbnb that stays in our home says the home is insane and they are blown away and the pictures don’t do it justice. When I say that, all I hear is, I didn’t do a very good job at marketing the property and could have provided more value in the marketing and thus a higher price per night. 

 This is great! Thank you so much for the advice :) 

 Playboy did stay here before I knew it wasn't allowed... lol 

@Bill B.Here's the breakdown: 

Bought it for $4.95M

Early loan payoff is ~$175k ($5M @5% 30 yr fixed investor note)

Conveyance Taxes ~$90k

Improvements $1.6M ($400k done on lower property)...  as a note - I own 2 - 5 acre properties. One has this mansion, and a second ~2000 sqft house. The lower property is covered in coffee and has a newly built ~800 sqft shop / deck. Has the ability to build 2 homes on it. The original owner in 2012 spent over $11M building the properties and over $1M on landscaping/coffee orchards.

Misc Other Expenses Incurred: $250,000

Total: Around $7.2M. I have the property below as well that I would sell with it for $800k. Total $8M breakeven. 

We have appraisals from Jan 2022 for the mansion property ONLY at $8.7M and a second at $9M.