You have to admire the chutzpah of a couple of Hawaii entrepreneurs. They are selling land on the island of Lo’ihi for 39.95 per parcel. The only problem, it is presently 3,000 underwater and not expected to be above sea level for 10,000 years.

Small potatoes for Jimmy from Cleveland who wants to brag to his buddies at the local watering hole that he just bought some property in Hawaii. The partners, Norm Nichols and Linda Kramer, do have a sense of humor though. They plan on having their homeowner association meetings on a boat over the property each year and are going to set up a website where the planning of the future city will take place via chat and forums.

You wonder where the modern day Florida swampland sellers ended up? We found them in sunny Hawaii. But it is great they have the idea and a sense of humor.

His Web site will be renovated in the next couple of weeks to officially begin selling parcels for an introductory price of $39.95. Buyers will receive a brochure and a “deed,” but much like Internet groups that claim to sell stars, they probably can’t call themselves owners.
“What’s the scam?” said Norm Nichols, co-developer of the online venture. “If you really think there’s something here that you can’t live with, nobody’s forcing you to buy it. It’s meant to be fun.”
The Web site advertises, “Lo’ihi Seaview Estates: Real Estate for the Future. Grand Water View Front Lots.” A photo of the sales office is a raft in the middle of the ocean. via Boston.com

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