Kauai Real Estate Update, Poipu Aina Estate Price Reduction, Hawaii Tourism Report

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate Update, Poipu Aina Estate Price Reduction, Hawaii Tourism Report

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New List Price: $3,990,000. 4 Bedroom 4.5 bath located in Poipu Aina Estates. Click on this photo for additional information and call me for a private showing. Lynda Gill CRS, RS 808-346-0056

Kauai Real Estate Update 
For a complete list of everything that has Sold, gone into Escrow and the New Listings for the last week on the island click here; Kauai Real Estate Update January 28 to Feb. 3, 2019

Poipu Beach Real Estate- Price reduced this last week on my listing at Poipu Aina Estates to $3,990,000.  This home is true serenity. Located on 2.6 acres of land you feel like you are in upcountry yet your just minutes away from the attractions of Poipu Beach.  4 en-suite bedrooms the home has 3 interlocking sections wrapping around an outdoor living area, dining/grilling and a pool.  For a virtual walk through, and additional information, click here: Hale Malia
To catch up on the fee simple Poipu Beach activity click here: Poipu Beach Current Market Analysis.

Kiahuna Plantation Real Estate- For the latest information on all the real estate activity that has happened at the Kiahuna Plantation since the beginning of this year click here: Kiahuna Plantation Current Market Analysis

State of Hawaii Subpoenas Airbnb For Income Receipts
The State of Hawaii is trying, and Airbnb is pushing back.  This will be interesting to watch what happens.

In a State Circuit Court filing last week the state of Hawaii is subpoenaing Airbnb for 10 years of invoices, receipts and other records in an attempt to find tax delinquents.  This would be the data from about 16,000 people.  Recently San Francisco and New York City have both attempted this same route and Airbnb is having their court battles with them, and now they are pushing back against Hawaii.
Airbnb is sating it’s a massive breach of their clients privacy rights and is unconstitutional.  The State is saying that they want to make sure that vacation rental operators are paying their transient accommodation and general excise taxes.

Whatever happens I don’t know but I am certain that there will be a change for these platforms at some point.  They have the data on what is being collected and States want to make sure it matches up to what is being reported.  The states obviously don’t think it’s matching up hence the demand for documents.

No Dairy In Poipu Beach, 5 Year Battle Over
I email blasted out the press release last week as soon as it came out, I couldn’t wait for Tuesday.  In case you missed it the Hawaii Dairy Farm officially announced they will not be putting a Dairy in Poipu Beach.  The news actually first hit our Poipu Beach streets on social media when locals were posting about the dairy people auctioning off their farm equipment.  Then came the official announcement.

The Dairy idea was funded by eBay founder Pierre Omidyar and supported by Grove Farm landowners and some local politicians.  However this idea ran up against massive and unrelenting push back since it first came on the scene.  The Friends of Mahaulepu grass roots campaign successfully spearheaded the opposition and rallied opposing forces and beat the Dairy back for 5 years.  The Grand Hyatt in Poipu filed a lawsuit against the Dairy as well.  Nobody could figure out why a resort community was the spot for a Dairy.

2018 Hawaii Visitor Numbers/Spending Increases
The Hawaii Tourism Authority (HTA) reported that the number of visitors to Hawaii in 2018 increased to nearly 10 million and their spending increased by 7% when compared to 2017.
Here are the official numbers:
9,954,548 visitors came to Hawaii in 2018, an increase of 5.9% from 2017. On average, 242,629 visitors were in Hawaii per day.

Visitor spending for the year totaled $17.82 billion, representing a 6.8% increase, with average daily visitor spending up 1.4% to $201 per person. Visitor spending generated a total of $2.08 billion in state tax revenue for the year, up 6.8% from 2017.  Statewide the number of jobs supported by the visitor industry grew by 6.8% to 217,000 jobs.

Kauai led in terms of growth, with spending growing by 10.2% to $2 billion and arrivals increasing by 7.6% to 1.38 million.

Kauai Real Estate Year To Date
We have the market data to compare January 2018 to January 2019 however, as with all January data, it’s not conclusive enough to gage a market trend.  A 457% rise in condo prices in Poipu Beach is as unrealistic as 40% drop in the number of sales for homes in Lihue.

Below is a graph illustrating 2018 compared to 2019 for the first month.  Call me to find out how this relates to your particular area of interest.

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