- Interest in Rakino Island properties is increasing, with buyers loving the privacy and community spirit.
- Rakino offers off-grid living and lower prices compared to Waiheke.
- Development is limited due to the island’s size but it maintains its quaint charm.
Buyers are starting to eye up homes and land on tiny Rakino Island, agents have told OneRoof.
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Rakino Island, in the Hauraki Gulf, lies north west of Waiheke Island and is only a short boat ride from Auckland CBD.
Unlike neighbouring Waiheke, and even Great Barrier Island, only a handful of people live on the island full-time, but interest in acquiring property there has noticeably picked up.
Ray White Remuera’s Ross Hawkins, who has owned land on Rakino since 1986, has noticed a subtle change taking place in the housing market there.
With its clear water and sandy beaches, Rakino, he said, offered Bay of Islands-style beauty within commuting distance of Auckland.
And like Great Barrier, it was off-grid (although Great Barrier is over four hours by ferry from Auckland whereas Rakino is only half an hour).
The island's most expensive home is Hurakia Lodge, which sold for more than $6m a few years ago. Photo / Supplied
But at just 2.4km by 1.2km, Rakino is a lot smaller than its neighbours and more limited in terms of real estate. Hawkins said because the island was off-grid it won’t develop like Waiheke.
“Waiheke feels like you’re in a suburb of Auckland, because it has sealed roads and established homes, whereas Rakino is still more of a getaway.”
Rakino also lacks the cafes, restaurants and wineries which have made Waiheke a destination for buyers in recent years, but prices aren’t as steep.
“You can buy good little beach houses there for $450,000-$500,000. You’ve got to go a long way north or south to get something equivalent on the mainland,” Hawkins told OneRoof.
“And being off-grid keeps all your bills down.”
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People with more money tended to look at the larger 4.5 to 5ha lots, Hawkins said.
“The island is only 365 acres in size, but because it’s small, all these blocks of land are coastal. They all get the benefit of a beach or [water view].
“I think you’ll see changes to the island over the next few years because it’s just so handy. If you want to fly in by helicopter, it’s only seven minutes from Auckland. People use them because it’s so easy – over the top of Rangitoto and you’re there nearly.”
While the island was likely to remain lower key than its neighbours, more houses of substance were likely to be built there, Hawkins said.
“It’s just such a lovely quaint little island. It’s unspoiled, really, and that’s the beauty of it.”
The island was first settled by Sir George Grey, Governor of New Zealand in the 1840s and again in the 1860s.
Hawkins said Grey built his homestead on Rakino before buying nearby Kawau Island, and his Rakino house was bought by Sanford which began its fishing business from the island.
“It was so long ago they used to row their catch to the city.”
Hawkins has no current listings on the island but his Ray White colleague, Stephen Wong, has several for sale, including 1 Marine Park Parade, a three-bedroom home that’s close to the wharf in Sandy Bay.
Wong also has a property on the island which he has been visiting for the past 30 years.
The island was limited by its size, Wong said, with only about 190 sites in total, around 20 of which were 10-acre blocks.
Some people buy for the isolation it offered, with Wong recently selling a property to a South Islander who wanted privacy. Others enjoy the tight-knit community on the island.
A quaint one-bedroom bach at 41 Ocean View Crescent has a price tag of $435,000. Photo / Supplied
“If you want cafes and shopping and everything else, go to Waiheke but if you want the friendliness, the isolation and the community spirit then Rakino is the place for you.
“Everybody knows everybody virtually by name – even the new people coming across. You get to meet the people pretty quick over there whereas if you go to Waiheke you wouldn’t know your neighbours.”
While Wong has noticed a few pricier all-terrain vehicles around, he does not think the wealthy are taking over the island, saying there are limited options and restrictions to be dealt with, and while it was possible to motor over from Auckland by boat a mooring was needed and there was a waiting list for those.
He said the poshest house was on the south hill with numerous bedrooms and bathrooms, a lap pool and a spa pool, which sold a few years ago for over $6m.
One of Wong’s recent sales was a section which cost $250,000, and the new owner was already building.
“This one didn’t have sea views, but you can still buy a section with a peek of the sea for high $300,000s,” he told OneRoof.
“People still want to buy a cheap site. They can’t afford Waiheke so they’re looking at Rakino at the moment, and the issue with Rakino at the moment is the banks are a little bit tough with loans out there because if you need to sell it quickly, you can’t, and if you need to rent the property out, you can’t, so there are a few restrictions.”
Wong pointed out Rakino was a step back in time and said some properties don’t have full sign-off, such as 41 Ocean View Crescent, a one-bedroom “stunner” on for $435,000.
“We never used to be part of Auckland City before. We used to be part of Coromandel back then, so it was a a bit more lax.”
- Click here to find properties for sale on Rakino Island