Kauai Real Estate, Visitor Spending Up

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate, Visitor Spending Up

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This was a part of the double page ad that was in the Garden Island Newspaper, click on the ad to see a gorgeous home that I had on the Island Wide Open House.

Kauai Real Estate News 
Last Saturday the Realtors on the island of Kauai held their second “Island Wide Open House”, over 40 agents participated. No matter where you were on the island there were open houses with priced that ranged from under $500,000 to over $5 Million. I participated with a home that I have listed within the Kiahuna Golf Village subdivision and from 10 to 3 p.m. had a good number of people that came through. Our properties were featured in a double page ad in the Garden Island Newspaper and it was a lot of fun to be a part of this event for the second time.
For a complete list of the properties that sold, went into escrow and the new listings for last week on the island of Kauai click here; Kauai Real Estate Activity September 25 to October 1, 2017

My Poipu Beach Real Estate page has been updated to bring you all of the activity for the Fee Simple property since January 1 of this year. To access this page click here; Poipu Beach Real Estate Current Market Analysis.

For the second time Kiahuna Plantation unit #327 fell out of escrow.  I think the reason why is this bank owned property has no furniture and there are some additional fee’s for the Buyer has to pay to buy such as an additional 4.5% of the sales prices as a “Buyers Premium” and a “web tech fee” of $299.00. Call me for more information on this unit and click here for a complete market analysis of the Kiahuna Plantation since January 1 of this year; Kiahuna Plantation Current Market Analysis

Kauai Visitor Spending Increases 4 Percent In August
In August visitor spending and arrivals were up for all of the islands. Here are the numbers for all of the islands;
Kauai visitor spending increased 4% in August to $147.4 million, with year-to-date spending up 12.5% to $1.27 billion. Total August arrivals increased 6.7% to 111,904 with a 14.1% increase in Canada visitors.

Visitor spending rose 8.6% on Oahu last month to $698.7 million, boosted by a 3.9% increase in arrivals to 517,206.

Hawaii Island arrivals increased by 14.2% to 152,550, which contributed to a 7.1% increase in spending to $173.7 million.

On Maui, visitor spending rose 4% to $364.8 million, while arrivals increased 2.5% to 233,266, highlighted by a 36.5% increase in visitors from Japan. Year-to-date spending increased 5.2% to $3.21 billion with arrivals up 3.2% to 1.85 million from last year.

Kauai Island Electric Company To Invest $350,000 Into Solar-Hydro
KIUC (Kauai Island Utility Cooperative) approved $350,000 to conduct preliminary work for surveying, engineering and permitting work for a proposed project that incorporates photovoltaic and pumped storage hydro technology.
Should the project, which KIUC says could provide 15% of the island’s energy needs, come to fruition, the utility will invest millions in infrastructure improvements and ongoing maintenance on publicly owned lands.  KIUC said the pumped storage hydro project will generate up to 25 megawatts of electricity, and reduce the utility’s carbon footprint by displacing 5 million gallons of diesel per year.

Kauai Year To Date Real Estate Activity
The real estate numbers are in for the first nine months of this year and we see that Island wide the number of homes that have sold is relatively flat while the number of sales for condominiums and land are way up.

The Median price for land is soft which goes hand in hand with the number of sales being so high. Home prices are up on the South and North Shore along with the Lihue area. Condo prices are down a bit on the North Shore and the lower priced leasehold Kiahuna Plantation sales are lowering the Median Price for the condos on the South Shore as the fee simple prices for condos are up.

The graph below will give you a snapshot of the Year To Date Activity for Kauai, click on this graph for more detailed information and call me if you have any questions.  Lynda Gill (RS) 808-346-0056
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