Ten oceanfront lots covering 13 acres on Kauai’s South Shore have landed back on the market Thursday for $20 million after falling out of escrow earlier this year.
The seller of the land at Makahuena Point in Poipu is CIRI Land Development Co., an Anchorage-based Native Alaskan company that has owned the land for 23 years.
CIRI had listed the land, in bulk, with Hannah Sirois of Elite Pacific Properties last summer after completing infrastructure improvements, including roads, grading and walls. The land had been listed before that, in 2016, with CBRE.
“We immediately went into escrow and we had a very extended escrow period with a qualified buyer,” Sirois told Pacific Business News. But in the end, the buyer and seller could not come to terms.