SOURCE: Carrie Doll Consulting

Carrie Doll Consulting

July 17, 2015 06:00 ET

Historic Hawaiian Sell-Out by Canadian Developer

SHERWOOD PARK, AB--(Marketwired - July 17, 2015) - The real estate community across the state of Hawaii is buzzing today after historic single day sales of a new residential development. The Residences of Laule'a put to market seven multi- million dollar homes at 9am Hawaii Standard Time on Thursday, July 16th. Within three hours, all seven units were put under contract representing approximately 20-million dollars in sales. Not since the recession on the Big Island of Hawaii has a group of properties went under contract so quickly after being released. Stephen Petasky, President of The Luxus Group and the Edmonton developer spearheading the project says, "We knew there was a demand for this type of product fulfilling an underserved niche market on the Big Island, but we never anticipated a three hour sell-out. We are thrilled and humbled by this response."

Molly and Patrick Harris, who are leading the project on behalf of MacArthur Sotheby's International Realty say, "This is unprecedented for Big Island real estate and proves just how desirable the area is. There's been a lack of inventory for years and The Residences of Laule'a is exactly what many people have been waiting for." Today's sell-out represents a geographically diverse group of buyers. Stephen Petasky comments, "We are fortunate to have interest from across North America as our buyers today come from places like Texas, Georgia and western Canada, some of which already own on the Big Island and are looking to upgrade to a new home."

Phase I is just the beginning for The Residences of Laule'a, as the five-acre parcel of land on the famed Kohala Coast will ultimately house 17 properties. Therefore those who have dreamed of owning real estate in the luxury resort community of Mauna Lani, will still have an opportunity to invest in this limited offering. Reservation holders who were unsuccessful the first phase will have first right of refusal on units in the Phase II release, which is anticipated to be announced in the next two weeks and will consist of just five residences. Interested buyers in Laule'a are encouraged to fill out a non-binding Reservation agreement to ensure they are put in the queue, which will allow them to participate in this next sales opportunity.

Molly Harris says "The partnership between MacArthur Sotheby's International Realty and the local real estate broker community in Hawaii has been the key to selling Laule'a. They share our excitement about having a new, contemporary project to sell. We look forward to working with them on the next Phase of this new development."

The Residences of Laule'a is a gated 50-million dollar modern luxury community that utilizes some of the most talented designers, engineers and advisors in Hawaii including Goodfellow Bros., Kahiau Design Group, and Maryl Construction. The project consists of detached and paired homes ranging in price from approximately two to four million dollars. All homes will be environmentally efficient and include top of the line finishing packages complete with private pools and spas. They are located on the world famous Francis H. l'i Brown South golf course and will either have a brilliant view of Mauna Kea Volcano or the Pacific Ocean.

Interested parties are encouraged to contact Molly and Patrick Harris. Reservation forms along with extensive information on the project, including pricing, construction updates and renderings are available on the website www.laulea.ca.

About The Residences of Laule'a:

The Residences of Laule'a is a luxury residential community that is currently under construction in the resort of Mauna Lani on the Big Island's Kohala Coast. The community contains 17 homes in total which priced from approximately two to four million dollars. Sales will begin in July 2015 and occupancy for all 17 units is expected in early 2017.

About The Luxus Group:

The Luxus Group, established by the Petasky family in 2007, is a luxury real estate private equity group that specializes in the acquisition, building and management of recreational properties around the world. Luxus is currently invested in six different countries including Canada, the United States, Mexico, Costa Rica, the Dominican Republic, and Italy. Their deep experience in recreational property management allows them to create truly one-of-a-kind developments in some of the most sought after destinations in the world. In addition to the above, Luxus is a registrant with the Securities Commission allowing the company to provide capital raising services for its various real estate funds.

About MacArthur Sotheby's International Realty:

With a combined 30 years of real estate experience, Molly and Patrick Harris add their commitment to extraordinary customer service, knowledge of luxury properties and local insight to Luxus's team of professionals guiding this project. MacArthur Sotheby's is an international network renowned for its worldwide marketing and vast network of brokers, providing clients with the platinum standard of the Sotheby's brand in attention, resources, service and transaction management.

The Residences of Laule'a is located on South Kaniku Drive
Mauna Lani Resort

Image Available: http://www.marketwire.com/library/MwGo/2015/7/17/11G047918/Images/Attached_exterior_rendering-1249433827269.jpg

Contact Information

  • Sales Inquiries:
    For more information please contact exclusive agents for The Residences of Laule'a from MacArthur Sotheby's International Realty.

    Molly Harris:
    808-333-2953
    molly@macarthurhawaii.com

    Patrick Harris:
    808-333-4856

    Media Contact:

    Stephen Petasky is available for comments.
    Interviews can be scheduled through Carrie Doll with Doll Consulting at 808-785-7067 or
    email: carrie@carriedoll.ca