Kalama Tract is a small neighborhood with generally larger lots and larger homes.  The larger nature of the properties and its close proximity to the beach drive prices up and over $1M.  Occassionally you will find something priced lower but will generally require some work.  A great neighborhood and a short walk to the beach, to Island Snow Hawaii for "shave ice", also frequented by Mr. Obama and family when they are in town.  Kailua town and its many shops are also only a short walk.