A letter I received dated January 4, 2010 from Jeffrey Proster, President of Brookfield Homes Hawaii, stated the already delayed Pili Mai development on the Kiahuna Golf Course in Poipu will be postponed indefinitely. Among other things it said, “In light of the current market challenges, our team has determined that it is not possible to proceed with the schedule that we previously communicated to you…when we are prepared to move forward and are confident that the market supports our new direction, you will be provided with an early opportunity to preview our offering.”
I attended a Broker’s luncheon back in July 2009 sponsored by Brookfield Homes Hawaii. At the luncheon they updated us on the current construction plans and explained that due to the new financing restrictions they were forced by their lender to stop construction of the infrastructure which had already begun, and would not be able to resume construction until a minimum of 20 additional reservations/contracts were received. Their goal was to have at least 20 contracts by the end of 2009 in order to resume construction, which it appears didn’t happen.
Brookfield Homes Hawaii still has a few units left for sale in its north shore development, Nihilani, and the prices have been incredibly discounted! For information about availability and pricing at Nihilani or for information about the remaining new developments going up in the Poipu area, contact me.