Michael and Patricia Sheehan sold a half-acre parcel of prime Hanalei real estate to the McKnight Family Trust for $7 million last month. The sale, recorded in county tax records, is probably the highest valued real estate transaction in Hanalei,
Michael and Patricia Sheehan sold a half-acre parcel of prime Hanalei real estate to the McKnight Family Trust for $7 million last month.
The sale, recorded in county tax records, is probably the highest valued real estate transaction in Hanalei, and on Hanalei Bay, this year, said Michael Schmidt, principal broker for Hanalei-based Coldwell Banker/Bali Hai Realty.
“It’s definitely an eye opener for the Hanalei area and an anomaly,” Schmidt said. “It wasn’t on the market. At least for that stretch of land, the Sheehan’s usually aren’t sellers.”
But it’s not the only pricey hunk of land for sale on the rapidly disappearing Hanalei Bay beachfront.
Bali Hai has a beachfront lot for sale located along the west border of the county’s Black Pot Beach Park and the Hanalei Pier which is listed at $3.65 million.
“Same beach front, same bay, only it doesn’t have the mountain view of the McKnight one,” Schmidt said.
The sale is of particular note because the McKnight Family trust is believed to be that of Bob McKnight, one of the registered owners of Quiksilver Inc., the surfing apparel company, and sponsor of many of Hawai‘i’s top surfers and surf contests.
McKnight could not be reached for comment and Michael Sheehan wouldn’t confirm the identity of the buyer of the 27,171 square-foot parcel.
Public records show that, of the 139 real estate transactions on Kaua‘i last month, 62 have Mainland billing address and more than half of those • 36 • have California tax billing addresses. There was one from Japan and one from Canada.
The remaining 77 had local addresses.
Business Editor Phil Hayworth can be reached at 245-3681 (ext. 251) and phayworth@pulitzer.net
