Kauai Real Estate Update, Just Listed Kiahuna Golf Village Home, National Real Estate Stats

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate Update, Just Listed Kiahuna Golf Village Home, National Real Estate Stats

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Just Listed: 2841 Milo Hae Loop 3 Bedrooms 3.5 bath with a dedicated office, a laundry/craft room that can potentially be a fourth bedroom, temperature controlled wine room, pool and so much more. $2,350,000 (FS). For additional information contact Lynda Gill CRS, RS 808.346.0056

Kauai Real Estate Update 
For a complete update on everything that has sold, went into escrow and the new listings island wide for last week on the island of Kauai click here: Kauai Real Estate Update September 17 to 23, 2018.

Poipu Beach Real Estate- Just Listed:  Hale Ho’o Pono (House of Harmony).  Thoughtfully designed by one of Kauai’s top Architects this home is what Hawaiian Lifestyle dreams are made of.  Floor to ceiling sliding doors fold neatly into the walls opening the entire living room to the spacious backyard with mature landscaping, tropical palm trees an in ground pool.  The laundry/craft room is large enough to be a fourth bedroom.  Contact me for additional details regarding this property.
To find out what is happening in the Poipu Beach Fee Simple market click here: Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate- My Kiahuna Plantation real estate page has been updated and you can access all the latest news here: Kiahuna Plantation Curent Market Analysis.

August Review Kauai Hotel Occupancy
August is typically a strong month for the hotel industry, but news coverage about Hurricane Lane heading straight at Hawaii, and travelers being able to utilize airline cancellation fee waivers likely impacted results in the latter half of the month.  Occupancy was down across the state in August compared to a year ago.
Statewide RevPAR rose 0.7% to $220, while ADR increased 4.4% to $282.  Maui and Kauai hotels performed the best in the summer months of June, July and August.

Kauai hotel RevPAR increased 7.9% to $229 and ADR increased 8.9% to $303.

Maui RevPAR rose 7.6% to $297, while ADR jumped 9.3% to $386.

Oahu hotel RevPAR increased 2% to $219 and ADR rose 2.9% to $252.

Big Island Hotel RevPAR dropped -10.5% to $164 in August, while ADR decreased 2% to $246. Occupancy decreased -6.3% points to 66.8%.

New Restaurant At Waimea Plantation Cottage 
The Waimea Plantation Cottages is a resort on the far West side of Kauai that is a hidden, quiet gem with a beachfront location.  This unique resort is on 130 acres and comprised of refurbished plantation cottages that offer a true “getting away from it all” experience. They also do tours on what plantation life was like back in the day that are fun and informative.

Just opening is Plantations BBQ & Bar, a 145-seat restaurant. It specializes in local fare like Kauai beef, loco moco and papaya yogurt granola, as well as Maui Brewing Co. beers.  The Ocean-themed restaurant is open daily at the 61-room hotel, which is managed by Coast Hotels USA. The West Coast hospitality company also has properties in Alaska, Washington, Oregon and California.

National Homes Sales Report
The statistics for the Year To Date National Association of Realtors Real Estate sales have been published.  Existing-home sales remained steady in August after four straight months of decline. Sales gains in the Northeast and Midwest canceled out downturns in the South and West.
Lawrence Yun, NAR chief economist, says “While inventory continues to show modest year over year gains, it is still far from a healthy level and new home construction is not keeping up to satisfy demand.  Homes continue to fly off the shelves with a majority of properties selling within a month, indicating that more inventory – especially moderately priced, entry-level homes – would propel sales.”

Regional Breakdown
August existing-home sales in the Northeast increased 7.6 percent to an annual rate of 710,000, but are still 2.7 percent below a year ago. The median price in the Northeast was $292,800, which is up 2.6 percent from August 2017.

In the Midwest, existing-home sales rose 2.4 percent to an annual rate of 1.28 million in August, but are still down 0.8 percent from a year ago. The median price in the Midwest was $208,500, up 3.4 percent from last year.

Existing-home sales in the South decreased 0.4 percent to an annual rate of 2.23 million in August, up from 2.19 million a year ago. The median price in the South was $227,900, up 3.2 percent from a year ago.

Existing-home sales in the West dropped 5.9 percent to an annual rate of 1.12 million in August, 7.4 percent below a year ago. The median price in the West was $392,900, up 4.8 percent from August 2017.

Below is a graph showing a snapshot of the National August sales.  We see that the number of sales are down, prices are up and we are at 4.3 months of inventory which is almost two months short of the considered 6 month balance.
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