Kauai Real Estate, Delta Airlines Adds New Flight, Koloa Estates Home In Escrow

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate, Delta Airlines Adds New Flight, Koloa Estates Home In Escrow

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In Escrow! My Seller received and accepted an offer on this 3 Bedroom Koloa Estates Home that has Club at Kukui’ula membership rights. Back offers are being accepted. Click on the picture to see a video of the property and call me at 808.346.0056 for more information.

Kauai Real Estate 
To find out what the Just Listed, Sales and Contingent offers that happened last week on the island of Kauai click here:  Kauai Real Estate Listing Update September 24 to September 30, 2018

Poipu Beach Real Estate-  Last week my Seller received an offer on his Koloa Estates home and I successfully negotiated the price and terms that were acceptable to him and we are now in escrow!  This single level 3 bedroom home is one of the last homes in this subdivision that has Club at Kukui’ula membership rights.  Back up offers are being accepted, click on the photo for property details and call me to set up a showing.  For the latest news on all things fee simple in Poipu Beach click here: Poipu Beach Current Market Analysis

Kiahuna Plantation- To find out everything that has happened in real estate at the Kiahuna Plantation since January 1 of this year click here: Kiahuna Plantation Current Market Analysis.

Delta Airlines Adding New Non-Stop Route
Delta Air Lines is adding a non-stop Detroit to Honolulu route on June 29, 2019.  The route will be serviced by the 225-seat Boeing 767-300ER aircraft and will offer convenient, one-stop connections to Honolulu for many customers in dozens of other cities Delta serves in the Upper Midwest and Northeast U.S.
Hawaii Tourism Authority CEO George Szigeti said the new service “opens the Hawaiian Islands to an entire region in North America currently underserved with nonstop service.  Hawaii travelers from the greater Detroit area, as well as those making flight connections at Delta’s hub from the Midwest, Northeast, Canada, Europe and Latin America, will appreciate the convenience Delta is offering.”

Hawaii Property Tax Question Moves To The Supreme Court
Last I blogged about this I reported that Kauai, Maui, Honolulu and Hawaii had filed a lawsuit to strike what they feel is a poorly worded question off the November ballot.  The question reads “Shall the legislature be authorized to establish, as provided by law, a surcharge on investment real property to be used to support public education?”.   The lawsuit came about because of the ambiguity of the question.  What is “investment”?  That can mean a vacation rental condo owned by someone in California or a single family home that is owed by a local family.  Additionally this gives the State Legislature a new taxing power that is currently at a County level.

The lawsuit that Kauai was a part of filing was denied by a Circuit Court Judge last month. The Counties have upped the anti by filing a petition for extraordinary writ with the State Supreme Court to strike the question off the ballot.

The Hawaii Association of Realtors and Business leaders are just some of the groups that have joined the counties in opposing the proposed “surcharge” on investment property.  Real estate experts say it will have the effect of being passed through to tenants, not only of residential investment properties, but of commercial investment properties as well. The Tax Foundation of Hawaii plans to file an amicus brief in support of the counties’ position with the Supreme Court on Thursday.

Kauai Real Estate Year To Date Market Summary
The Kauai September real estate data is in for us to compare where we are at compared to this same time last year.

The number of Sales, and the Median Price are up in every sector of Kauai for Residential Homes and Condominiums.  Land Sales are off but the prices are up with the exception of the North Shore.  What I’m also seeing on the North Shore is a softening on the number of sales and this would be expected given the damage that was done by the flooding earlier this year.  That being said the North Shore is the leader in their Residential Median Price at $1,277,500 up 4.93% from last year.

The real estate activity on the South Shore is up and this is showing in our number of Sales and the Median Price.  Additionally the South Shore is the only sector that has an increase in the number of sales and the price of land.

Area of Kauai With The Highest Increase In The Number Of Sales: Poipu Beach Condominiums. 2017 Year To Date Poipu had sold 95 condos, 2018 Year To Date Poipu has sold 122 condos which is a 28.42%.  Close second is Lihue condos at 27.16%.

Area of Kauai With The Highest Increase In Price: again it’s Poipu Beach condominiums.  2017 Year To Date the Median Price was $475,000 and 2018 Year To Date Median Price is $635,669.  I’d like to add that the 2017 number was a big skewed on the downside because of the huge number of Leasehold Kiahuna Plantation condos that had sales prices that started at $40,000, most of that inventory has been cleared out this year.
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