Magnum Mania!

I think this is buried in the Pahonu thread but thought we should have quick access if needed.

http://islandluxuryphotography.com/gall ... son/21.jpg

Thanks for posting the pics, Conch. Still hard to believe it's gone.

Thanks for posting that for quick access. Since it's on a website that could disappear at any time, I have archived all 30 photos.

As with NotthatRick, I still can't believe it's gone. So sad.

A friend and I wanted to buy it and turn it into a B&B. Oh well.

Thanks for the thread Conch!
Looking at the pics now......just read what Christian discovered about the estate and it makes me sick........now the land is under attack and will soon be split up into 3 parcels!!! UGH!! It makes sense from a financial point of view, but from a historical point, not at all. Hawaii lost a real gem there!

Wow! Great find.

eagle wrote:Thanks for posting that for quick access. Since it's on a website that could disappear at any time, I have archived all 30 photos.

As with NotthatRick, I still can't believe it's gone. So sad.

A friend and I wanted to buy it and turn it into a B&B. Oh well.

That would’ve been a heck of a lot of beds and breakfasts to pay off that mortgage!

I commented on the thread when the house was bought (or when it was demo'd, or maybe both). I fully suspected that it would be split. That's where the value is in the land. I don't remember hearing that. MAN!

Still a shame, but it's the right move for value and return. As I'm in real estate and finance, there could be no other play for an investor (Appraisal term: Highest and Best Use). If it is a buyer with a certain plan in mind, like maybe a LARGE HOME, then that would have been possible. Not if Nesbitt was doing it personally/professionally. If the Obama connection had been legit, then it would have stayed one parcel. A former Pres would need that. Maybe it was one plan of a few and Obama chose M.V. instead?

The OTHER aspect of value comes from the developable land. With the existing structure, they may have been seaward of modern setbacks. If so, they may have had more value using all or part of the old house and/or could build closer to the water than they can for undeveloped land. I don't know all the rules for Hawaii, just some of what applies in Florida. Though the portions of the estate site that didn't have the house would not be grandfathered, that one portion could... The way the house was completely scraped, it's likely there will be no additional benefit left for redevelopment. Basically, it will likely be considered as a vacant site for future development.

Man! Still depressing!

Kevster wrote:I commented on the thread when the house was bought (or when it was demo'd, or maybe both). I fully suspected that it would be split. That's where the value is in the land. I don't remember hearing that. MAN!

Still a shame, but it's the right move for value and return. As I'm in real estate and finance, there could be no other play for an investor (Appraisal term: Highest and Best Use). If it is a buyer with a certain plan in mind, like maybe a LARGE HOME, then that would have been possible. Not if Nesbitt was doing it personally/professionally. If the Obama connection had been legit, then it would have stayed one parcel. A former Pres would need that. Maybe it was one plan of a few and Obama chose M.V. instead?

The OTHER aspect of value comes from the developable land. With the existing structure, they may have been seaward of modern setbacks. If so, they may have had more value using all or part of the old house and/or could build closer to the water than they can for undeveloped land. I don't know all the rules for Hawaii, just some of what applies in Florida. Though the portions of the estate site that didn't have the house would not be grandfathered, that one portion could... The way the house was completely scraped, it's likely there will be no additional benefit left for redevelopment. Basically, it will likely be considered as a vacant site for future development.

Man! Still depressing!

Splitting the property makes sense from a financial sense (unfortunately) and it also undermines the Obama Scenario. Although I do wonder why the boathouse wasn't taken down at the same time as it seems to have been in as much disrepair as the main house.

I have heard a "confidential rumor" of a prominent local architect being contracted to build a house for for the former president. It seems until one or the other happens, rumors will continue.

ConchRepublican wrote:Splitting the property makes sense from a financial sense (unfortunately) and it also undermines the Obama Scenario. Although I do wonder why the boathouse wasn't taken down at the same time as it seems to have been in as much disrepair as the main house.

I have heard a "confidential rumor" of a prominent local architect being contracted to build a house for for the former president. It seems until one or the other happens, rumors will continue.

Confidential rumour? My interest is piqued, Conch!

Styles Bitchley wrote:

ConchRepublican wrote:Splitting the property makes sense from a financial sense (unfortunately) and it also undermines the Obama Scenario. Although I do wonder why the boathouse wasn't taken down at the same time as it seems to have been in as much disrepair as the main house.

I have heard a "confidential rumor" of a prominent local architect being contracted to build a house for for the former president. It seems until one or the other happens, rumors will continue.

Confidential rumour? My interest is piqued, Conch!

That's all I can say from an island source.

I still hate that I never got to see the main house, and yes it still saddens me that it is gone. In a way, it's silly since it wasn't my place, and I live thousands of miles away anyway. I know that, with very few exceptions, the interior scenes weren't filmed there, but I don't care - I wanted to see it anyway. Same with the boat house - I know that its interior does not at all match Thomas's guest house, but I don't care - I still want to go see it.

I can't help but wonder if the new owners will also do away with the boat house, the tidal pool, and the concrete construction in the pool.

eagle wrote:I can't help but wonder if the new owners will also do away with the boat house, the tidal pool, and the concrete construction in the pool.

I'm no expert on property law in Hawaii, but I'm pretty sure they have no right to alter the beach or anything beyond (i.e., the tidal pool).

Styles Bitchley wrote:I'm no expert on property law in Hawaii, but I'm pretty sure they have no right to alter the beach or anything beyond (i.e., the tidal pool).

Well, that's something, at least...

Styles Bitchley wrote:

ConchRepublican wrote:Splitting the property makes sense from a financial sense (unfortunately) and it also undermines the Obama Scenario. Although I do wonder why the boathouse wasn't taken down at the same time as it seems to have been in as much disrepair as the main house.

I have heard a "confidential rumor" of a prominent local architect being contracted to build a house for for the former president. It seems until one or the other happens, rumors will continue.

Confidential rumour? My interest is piqued, Conch!

Hi Guys,

The boathouse is definitely in today's no build zone (too close the ocean) and wouldn't be allowed to be built now in that location. I can't remember what the setbacks are, but I know we discussed it somewhere in this thread. I believe the boathouse is grandfathered in for now (assuming it stays standing as it's in real rough shape) and they probably didn't want to close that door until they knew for sure what they were going to build.....maybe they'll keep the structure and use it as their own boathouse.....a longshot, but you never know....once it's gone, it's gone for good in that location so one should take their time and weigh out the options. Maybe he/they/? are splitting it into three to create one lot for Marty, one for Obama and one for all the security they will need ......who knows, one can come up with loads of scenarios.

I forget what the latest was ... is the gate house still standing?