Adam McAbee, Zonda’s senior vice president of advisory, has seen just about every type of residential development, from high-rises and resorts to single-family homes and custom lots.
Only one has inspired him to get a tattoo.
Zonda Economics sat down with McAbee to discuss why Kohanaiki, a luxury residential community on Hawaii’s Big Island, made such a lasting impression and what builders and developers can learn from its approach to creating a distinct sense of place.
Of all the communities you’ve worked on, why does Kohanaiki stand out?
I’ve been a real estate consultant for 32 years, my entire career. I’ve worked in 43 states and on more than 1,000 market studies covering just about every type of residential real estate you can imagine.
Kohanaiki is a special place in a state that I love.
What makes the community itself so memorable?
In any successful community, you have to know that you’ve arrived.
That’s one of the universal qualities I look for in a great community: You’ve left wherever you were before, and now you are here. There should be a clear distinction.
Kohanaiki does a great job of creating that feeling. The branding is consistent. The architecture speaks the same language. From the street signs to the golf carts to the wine glasses—they all reinforce the identity of the place.
At a (resale) entry price around $4 million, what are buyers getting beyond the home?
Most are second-home buyers, and people looking for an accompanying resort lifestyle.
The community is gated, has two restaurants on-site, and puts a major emphasis on service. The 67,000-square-foot clubhouse also gives members things to do at night, including a movie theater and bowling alley.
That’s particularly meaningful in Hawaii, where things tend to quiet down early. Kohanaiki gives its members reasons to stay on-site and continue enjoying the community.
There’s also more housing diversity than someone might expect from a community at this price point. Why does that matter?
Kohanaiki is planned for about 400 residences at buildout, and its offerings range from large custom lots/homes priced above $20 million to higher-density single-family homes and even townhomes, allowing it to target multiple buyer profiles at once.
But these products are far from “typical.” They are often well over 3,000 square feet in size and include features like private swimming pools and outdoor showers—even in the townhomes. They have been able to introduce density without losing the luxury experience.
The product may change, but the experience of the community remains consistent.
Plus, the main competitors on the island have little to no supply at all (new or existing), thereby filling a gap in the market.
You feel strongly enough about Kohanaiki that you have its logo tattooed on your arm. What’s the story?
No one in my immediate family had tattoos. Then, I went to a family reunion and realized about 80% of my extended family had one. I thought, “OK, maybe my perception of tattoos is a little outdated. If I’m going to get one, though, what actually means something to me?”
I love Hawaii, and Kohanaiki’s logo comes from an ancient Hawaiian petroglyph on the beach in front of the community. I loved the connection to the land, the culture, the community, and the uniqueness of the design.
So that became the tattoo.
After Kohanaiki, is there another community that has stuck with you?
There are so many. Victoria Place in the Ward Village master plan on Oahu and Seabrook in coastal Washington are two that I love.
