About Paiko Lagoon Homes & Neighborhood A hidden gem, Paiko Lagoon is a charming luxury residential coastal community of about 120 homes in Honolulu located on the oceanside of Kalanianaole Hwy bordered by Hawaii Kai to the east and Niu Beach to the west. Paiko Lagoon homes for sale are valued between $1M to $5M and lots typically range between 5,000 to 25,000 sq ft.
At the heart of Paiko Lagoon is a calm peaceful State Wildlife Sanctuary, which offers surrounding homeowners serenity, privacy and gorgeous views. Freshwater springs feed the ancient mystical Kanewai Fishpond with it’s central lush green island which adds to the magic for the residents. The fishpond connects to the lagoon, which opens up to the ocean at Maunalua Bay with the impressive Koko Head in the backdrop.
Precious few properties have the benefit of bordering the fishpond on one side and the lagoon on the other. This unique geographic layout, with it’s wonderful ambiance, inspired world renowned Hawaii architect, Ossipoff, to built his own home in Paiko Lagoon. Homes along the oceanside of Paiko Dr enjoy the benefit of a nice sandy beach with calm shallow ocean waters beyond.
One of the more notable Paiko Lagoon homes juts out into the bay at the tip of Paiko Dr, amazingly surrounded by ocean on all sides - like owning your private island without neighbors - connected to the shore only by a simple narrow access road.
Paiko Lagoon is also the home to Kuliouou Kai Villa, a small 28 unit townhouse project located on Summer St - a more affordable choice and popular by nature lovers. A stone throw away is Kuliouou Beach Park, a fabulous place for a picnic under shaded trees while watching the bird sanctuary across the water.
Magical and serene, Paiko Lagoon is truly one of a kind.
The price range of houses for sale in Paiko Lagoon is $1.2M to $7.95M with a median price of $5.93M, median interior of 4,795sf and median land size of 20,809sf.
The median price of houses sold in Paiko Lagoon year-to-date (Jan - Sep 26, 2017) is $3.32M. In previous years it was $1M (2016), $1.15M (2015), $2.4M (2014), $1.05M (2013), $2.27M (2012), $3.15M (2011), $2.5M (2010), $2.17M (2009), $1.26M (2008), $3.25M (2006), $900K (2005), $1.5M (2004), $1.17M (2003).
2 houses have sold in Paiko Lagoon year-to-date (Jan - Sep 26, 2017). In previous years, the total number of houses sold were 3 (2016), 6 (2015), 1 (2014), 5 (2013), 1 (2012), 1 (2011), 3 (2010), 3 (2009), 8 (2008), 5 (2006), 7 (2005), 5 (2004), 1 (2003).
On average Paiko Lagoon houses were on the market for 66 days before they were sold (Jan - Sep 26, 2017). In previous years it was 113 days (2016), 42 days (2015), 266 days (2014), 50 days (2013), 29 days (2012), 161 days (2011), 100 days (2010), 83 days (2009), 48 days (2008), 46 days (2006), 59 days (2005), 78 days (2004), 366 days (2003).
The total dollar volume of houses currently for sale in Paiko Lagoon is $21.02M and the sold dollar volume year-to-date (Jan - Sep 26, 2017) is $6.65M. In previous years sold dollar volume was $4.48M (2016), $8.58M (2015), $2.4M (2014), $5.99M (2013), $2.27M (2012), $3.15M (2011), $11.37M (2010), $6.72M (2009), $13.86M (2008), $15.24M (2006), $10.02M (2005), $6.18M (2004), $1.17M (2003).
The most recent sale in Paiko Lagoon was a house located at 5939 Kalanianaole Highway, sold for $2.99M on May 26, 2017. It had 3134sf of interior. 9 other recent sales include: 5931 Kalanianaole Highway (5,897sf) sold for $3.66M on 5/12/2017. 6059 Kalanianaole Highway (1,627sf) sold for $1M on 10/26/2016. 226 Paiko Drive (2,579sf) sold for $2.61M on 6/16/2016. 271 Paiko Drive (1,056sf) sold for $870K on 3/24/2016. 6143 Kalanianaole Highway (2,592sf) sold for $1M on 12/18/2015. 6015-B Kalanianaole Highway (2,950sf) sold for $3.1M on 11/6/2015. 118 Maunalua Avenue (1,008sf) sold for $1.01M on 10/5/2015. 6041 Kalanianaole Highway (1,500sf) sold for $825K on 4/27/2015. 6170 Summer Street (2,002sf) sold for $1.35M on 3/4/2015.
3 of the houses have ocean views, 1 has Diamond Head views and 3 have mountain views.
Paiko Lagoon History Manuel de Pico did not start life with distinction. Born into a poor Portuguese family on the Azores Island of Pico, not much is known of his early history until he jumped ship in Hawaii from a whaler he was serving on sometime in the 1840's.
The love for his newfound home compelled him to make a significant change. Somewhere along the line he altered his last name to make it more Hawaiian in tone, turning it into Paiko.
Through hard work and determination he made a success of himself in cattle raising on Oahu. One of the fruits of these profits were 400 acres of land he purchased past Diamond Head where he made his home.
The Paiko family continued to live here after Manuel died in 1890, their prominence & ownership recognized in naming the lagoon and the road nearby. The last Paiko, Joseph, Jr. died childless in 1947, bringing an end to the family's vast landholdings.
Joseph's passing opened up Paiko Lagoon real estate just as home construction boomed in Honolulu. The privacy, natural beauty and ocean views attracted wealthy buyers looking for a piece of true paradise. While other neighborhoods brag about having homes designed by Vladimir Ossipoff, only Paiko Lagoon can claim it is where the celebrated architect chose to build his own house.
Homes in Paiko Lagoon continue to carry top price tags, on the rare occasions they are for sale; but the wait, and the money, just might be worth it.