Kauai Real Estate Update, Poipu Aina Estates Lots Sold, Southwest Airlines Hawaii Update

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate Update, Poipu Aina Estates Lots Sold, Southwest Airlines Hawaii Update

Kauai Real Estate Update <img src=”image.gif” alt="poipuainaestates“/>
For a complete list of all the New Listing, Sold Properties and the properties that went into Escrow island wide for last week click here: Kauai Real Estate Listing Update July 23 to July 29, 2018

Poipu Beach Real Estate Update- I brought in the Buyers for Poipu Aina Lot 4A and 4B and last week I closed escrow on them both.  Out of the 17 lots there are only 5 left.  Additional information about this subdivision is available at this website: Poipu Aina Estates.  For a complete market analysis on the Poipu Beach Real estate market click here: Poipu Beach Current Market Analysis

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SOLD! Kiahuna Plantation unit #157. List price: $117,000 (LH) Sold price $130,000 (LH). Click on photo for details on this unit.

Kiahuna Plantation Real Estate- Out of the multiple offers that were submitted on Kiahuna Plantation #157 my buyers were successful in their bid and yesterday we closed escrow.  This top floor corner unit has been beautifully upgraded and has a sweet view of the Twin Bridges and the lawn area.  For Year to Date update on Kiahuna Plantation real estate click here: Kiahuna Plantation Current Market Analysis

Kauai Leader In Hotel Growth In June, Big Island Suffers

Three of the four major islands realized hotel RevPAR (revenue per available room) growth in June, with Kauai reporting the largest increase of 11.6% to $228, according to the Hawaii Tourism Authority.
Statewide RevPAR and ADR this June were the highest ever for any month of June and that is significant when you consider how Kilauea volcano negatively impacted RevPAR and occupancy on the island of Hawaii. However, the overall performance of Maui County, Kauai and Oahu more than compensated for these declines.  All four counties reported year-over-year growth in all three categories, with double digit RevPAR growth realized on Kauai and Maui.

Kauai’s strong RevPAR growth was bolstered by a 10.1% increase in ADR to $294, and a 1% point increase in occupancy to 77.4%.

Maui hotels reported the highest RevPAR last month at $295, an increase of 10.7% over June 2017, boosted by a 11.3% increase in ADR to $381. Occupancy remained relatively flat at 77.3%.

RevPAR for Oahu hotels increased 3% to $228, while ADR increased 2.6% to $243 and occupancy remain flat at 87.7%.

Big Island hotels were the only ones to report a drop in RevPAR in June, falling 8.3% to $163.91, ADR also declined, down 0.3% to $239. Occupancy was down 6 percentage points to 68.6%. HTA attributed the decline in Big Island numbers to the ongoing Kilauea eruption.

New Hawaiian Real Estate Related Laws Part I

I went to a class this last week to get updated on new and upcoming laws that are related to Hawaii Real Estate.  Every week I’ll update my Blog with a new law and our first law is a big one….

House Bill 1614: Automatic Restraining Orders

This bill applies to all properties that are owned in Hawaii regardless if you are a resident or not.  This is a big one and please take note as it could impact the sale of your property or the listing your property.  If you are getting a divorce, or thinking about getting a divorce, and you own property here in Hawaii it’s imperative that you get legal advice because this bill impacts you.  It became effective July 1, 2018.

This bill provides that a restraining order would automatically be imposed upon parties filing for annulment, divorce, or separation to preserve the financial assets of the parties and their dependents and maintain the current island of residence and school of enrollment of a minor child of the parties.  Under the order, neither party could sell, transfer, encumber, conceal, assign, remove, or in any way dispose of any property, real or personal, belonging to or acquired by either party, except under specific circumstances.  Here is the link for a more detailed explanation on this bill: HB1614

New Mammal Sighted Off Kauai Waters <img src=”image.gif” alt="newhawaiianmammal“/>

A one of a kind mammal is swimming in Hawaiian waters. Scientists say a hybrid whale/dolphin has been spotted swimming with other dolphins off Kauai.  They believe it is an offspring from a female melon-headed whale and a male rough-toothed dolphin, which researchers say is the first of its kind.

Robin Baird of the Cascadia Research Collective tells us that a biopsy was taken of the animal and it has DNA from both species. He believes the female whale got separated from her group and started travelling with the pod of dolphins, and is now attached socially with the dolphins.

Southwest Airlines Says Hawaii Remains Focus Of Expansion

Southwest Airlines released its second quarter earnings report Thursday morning, and the company’s CEO says Hawaii remains the focus of their expansion in 2019.  In the report, CEO Gary C. Kelly said, “As we look ahead to 2019, Hawaii remains our expansion focus, and our goal is to begin selling tickets later this year.”  The airline beat Wall Street’s expectations with second-quarter earnings of $733 million.

The carrier is seeking a month-to-month permit to use space in airports in Hawaii. The state has approved the requests for airports in Honolulu, Kahului, Lihue, and Kona.  No word yet if gate space has been requested.  The airline also still needs FAA approval to fly over the Pacific Ocean.

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