After three years on the market, the historic Kilauea Lodge might soon have a buyer.
After three years on the market, the historic Kilauea Lodge might soon have a buyer.
The Volcano Village hotel and restaurant was put up for sale in 2014 with an asking price of $5.9 million. Since then, the property’s price dropped to $5.2 million and it has hovered on and off the market but remains unsold.
Despite this, Rebecca Keliihoomalu, real estate agent for MacArthur Sotheby’s International Realty, said an undisclosed buyer is interested in purchasing the resort.
“Three years isn’t an unusual amount of time for a property like this,” Keliihoomalu said. “Not everyone’s in the restaurant and hospitality businesses.”
The lodge’s owners, Albert and Lorna Jeyte, bought the property in 1986 while visiting on their honeymoon. The couple converted the lodge, formerly a YMCA camp, into a resort facility, with Albert Jeyte serving as chef.
“The owners are taking this very seriously,” Keliihoomalu said. “This is their lives’ work — or rather, this phase of their lives’ work.”
Keliihoomalu said the property garnered “consistent interest” since it was first listed with Sotheby’s in November 2014. Since then, the property’s price was adjusted in 2015 before it was removed from the market briefly in 2016.
After returning to the market in late 2016, the property remained listed until it was removed again in June.
The lodge was added to the Hawaii Register of Historic Places in 2012, which Keliihoomalu said has not diminished interest from buyers.
Keliihoomalu said she has been in contact with “interested parties” with experience in the hospitality industry and a decision could be made within the coming months.
Albert and Lorna Jeyte declined to comment.
Email Michael Brestovansky at mbrestovansky@hawaiitribune-herald.com