Kauai Real Estate Update, Koloa Landing Sold, Prince Kuhio Park Gets Additional Lands

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate Update, Koloa Landing Sold, Prince Kuhio Park Gets Additional Lands

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I just SOLD Koloa Landing #1-307, to find out more about this unit click on the photo for detailed information. Call me to discuss 808-346-0056

Kauai Real Estate Update

For a list of everything that has sold, went into escrow and the new listings for last week on the island of Kauai click here: Kauai Real Estate Update March 19 to March 25, 2018

I Just SOLD Koloa Landing Ocean View 2 bedroom 2 bath condominium. Located in Building 1 East unit #1-307 has a lovely ocean view and top of the line interior appointments along with personalized concierge service for their owners. It’s the closest you can get to living at the Grand Hyatt. To access a Current Market Analysis on the Fee Simple market in Poipu Beach click here: Poipu Beach Current Market Analysis

My Kiahuna Plantation page has been updated as well, click here to access that information: Kiahuna Plantation Current Market Analysis

Prince Kuhio Park In Poipu Beach Expands

“Kuhio Park” in Poipu Beach is located next the the Prince Kuhio condominiums. The park is the birthplace of Prince Jonah Kuhio Kalananiana‘ole Pi‘ikoi, who was born on March 26, 1871. He ruled over Kauai until his death in 1922. The park was established on October 27, 1924 and every year there is a celebration at the park celebrating the birth of the Prince.

This year there was a very special announcement by a representative from A&B Properties the developers of the Kukui’ula subdivision which the Prince Kuhio Park backs up to. It was announced that 16 acres A&B land which is directly behind the park is being gifted over to the existing 5 acre park. The Deed work is nearly done and turnover of the land to the Royal Order should be complete by year’s end.

Future plans include the expansion of Prince Kuhio Park to encompass a 16-acre cultural preserve for the land bordering the park, and setting a path to preserve and perpetuate the legacy of the Order of Kamehameha for the next 100 years.

County Of Kauai Has Chance To Buy 3 Acres In Hanalei

The current owner of three acres of land along the Hanalei River is offering the County of Kauai first chance to buy this choice piece of land for $5.6 million. Draft Bill 2701 is going to be presented allowing the County to buy this coveted parcel of land for preservation purposes.

County Council Vice Chair Ross Kagawa stated “It’s higher than market value, but I’m for it. I don’t want to risk the possibility of that turning into a private fantasy location for a rich individual and his friends.”

The 3.02 acres border the river and extend all the way up to the boat launch area at the rivermouth, as well as mauka to include the land upon which the two-story canoe club building rests.

Hawaii’s Unemployment Rate Continues To Drop

Unemployment was at 2.1% for February, down from 2.8% during last year’s comparable period, according to recent figures released by the state’s Department of Labor and Industrial Relations.

According to the DLIR, statewide, 669,400 were employed and 14,050 unemployed in February for a total seasonally adjusted labor force of 683,500. Nationally, the seasonally adjusted unemployment rate was 4.1 percent in February, also the same as in January.

Terminix Kauai Gets Fined By U.S. Environmental Protection Agency

The United States Environmental Protection Agency levied a $168,535 fine on Terminix International Company for misuse of pesticide products at four locations on Kauai.

The environmental agency said the commercial pesticide applicator company failed to follow required label instructions and safety precautions before and during fumigation operations at four locations:

“At a seed fumigation site on the island of Kauai, Terminix failed to ensure that only certified workers or workers directly supervised by a certified worker apply a restricted-use pesticide, failed to provide proper worker protection equipment, failed to properly monitor the pesticide’s application or measure the amount of pesticide used, and failed to maintain at least two years of routine operational records tracking applications of the restricted-use pesticide Degesch Fumi-Cel,” the EPA said in a statement.

The agency said Terminix had similar violations when using the restricted-use pesticide Profume at another seed fumigation site, as well as the restricted-use pesticide Vikane at residences in Kapaa Shores and Kekaha.

Interest Rates Are Going Up

The Federal Reserve raised rates on Wednesday in its first meeting under Chairman Jerome Powell, a sign of confidence that the economy is growing stronger with very low unemployment and rising wages.

Lawrence Yun is the National Association of Realtors top economic advisor and he weighed in on last week’s interest rate hike

“We are in the middle innings of monetary policy normalization. Interest rates that the Fed directly controls – the federal funds rate – were raised three times in 2017. Today’s action is the first of three rate hikes in 2018. Another three hikes are likely on deck in 2019. Mortgage rates do not move one-to-one with the Fed tightening, but clearly consumers should anticipate higher mortgage rates as time proceeds.

The tight labor market will hurry-along the Fed to raise rates. Housing costs are also rising solidly and contributing to faster inflation. The one thing that could slow the pace of rate increases would be to tame housing costs through an increased supply of new homes.  Not only will more home construction lead to a slower pace of rate hikes, it will also lead to faster economic growth. Let’s put greater focus on boosting home construction.”

 

 

 

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