Kauai Real Estate Update, New Airline Eyes Hawaii, North Shore Opens

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate Update, New Airline Eyes Hawaii, North Shore Opens

Kauai Real Estate
To Auction Or Not To Auction: Part II.  I had previously blogged about the $12 million dollar Auction of the Makali’i Plantation which is a 317 acre estate that was owned and occupied by the McBryde family.  It had been divided into 9 homesites and was for sale for $12 Million after being on the market for years and having several price reductions.  The owner decided to auction it off without a reserve, this was a very bold move.  The sale was posted yesterday and, unfortunately, the final sales price was only $5.2 million. Less than half of the list price. This is the risk you take when you auction without a reserve, the other side of this is if you have a reserve many times people won’t even bother to bid.  For the details on this sale click here: Makali’i Plantation Auction Results
For a complete list of what Sold, was Just Listed and the New Escrows for last week on the entire island click here: Kauai Real Estate Activity June 17 to June 23, 2019

Poipu Beach Real Estate Update- to get updated on the Fee Simple real estate activity since January 1 of this year click here: Poipu Beach Current Market Analysis

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IN ESCROW! I brought in the buyers for this ground floor corner unit located in building 11. It’s been renovated and is a short walk to the beach. Click on this photo for details on this listing. If you missed out on this one call me for other units that just might work for you.

Kiahuna Plantation Real Estate Update- IN ESCROW!  I brought in the buyers for unit #59 at the Kiahuna Plantation and we are now in escrow.  This is a ground floor corner unit located in building 11.  If you missed out on this one contact me for other options.  For all the real estate activity at the Kiahuna click here: Kiahuna Plantation Current Market Analysis

Oahu Skydiving Plane Worst Crash In States History
A plane that had previously been in an accident in California crashed on Oahu on Friday killing all 11 people on board. A Beechcraft King Air plane, operated by Oahu Parachute Center skydiving company, was heading back to the airfield when it crashed and was immediately engulfed in flames.  This company does “tandem jumps” and the cause of the accident is still under investigation.  It was reported that the plane turned around shortly after take off which explains why 11 people were killed.

Previously the plane had been in use in Northern California and in 2016 it was cited as “pilot error” when this same plane took off after being too heavily weighted in the back.  It stalled 3 times and rotated 9 times during one of the three spins it experienced. While the plane was stalling out the Parashooters managed to jump out of the plane and the pilot was able to stabilize it.  Investigators found that the plane had lost a piece of horizontal stabilizer and that the plane’s elevator had broken off.  The plane with two turboprop engines was manufactured in 1967, FAA records said.

A New Airline Makes A Move Towards Hawaiian Skies
Frontier Airlines ordered 18 A321XLR Airbuses that will allow the airline to fly to the Hawaiian Islands.  The fuel efficient plans will launch in 2023 and will have a range of 5,400 miles.
“The A321XLR will enable Frontier to offer coast-to-coast service and explore exciting international and domestic opportunities, such as Hawaii, while continuing to deliver ‘Low Fares Done Right’ to our customers,” said Barry Biffle, president and CEO of Frontier Airlines, in a statement.

The delivery of these planes is expected to be in 2024.

Vacation Rentals in Oahu Under Heavy Fire
Kauai has already been through this but the news about Oahu has my contacts asking me about the “vacation rental shutdowns” that they have been hearing about.  It’s happening but it’s not here.  Let’s review the bills because if it works well in Oahu it could, or something like it could, make its way to Kauai.
Bill 89 puts a cap on the number of permits allotted for vacation rentals and limits rentals to homes where the owner lives. This has to do with vacation rentals that are being done outside of the vacation rental area.  For properties that are zoned for vacation rentals this does not apply.  So here’s how it goes down: if you have a home in a residential neighborhood in Oahu where you can’t do vacation rentals, and you live in another home on Oahu-or on the mainland, you now can’t rent out your place.  Can’t even apply.  If you live in your home and are doing vacation rentals in another part of it then you still can as long as you get one of these permits and as long as you comply with the rules of vacation renting.

To put some teeth into this Bill 85 was also passed.  It bans vacation rentals outside of the designated resort zones and has harsher rule for violators.

North Shore Opens…Quietly
After 14 months of being shut down the North Shore opened the doors to Ke’e Beach a week ago Monday.
The first person to enter arrived at 4:45 a.m. and said that things were pretty quiet.  As the day went on, it was reported that the parking lot filled but overall things were pretty quiet.  In looking on social media I saw that there was still some confusion from the visitors on how they could get a permit and also people warning that there are people there checking for your ticket and not to go up without one.
The shuttle will be mandatory for anyone who doesn’t get parking reservations, unless they are to be dropped off by a vehicle that is not parking. Vehicle entry to Haena State Park is $5, along with $1 per person. Parking and shuttle reservations can be made online at: www.gohaena.com. Reservations are not necessary for Hawaii residents.  The system is designed around the parking lot, which has about 100 stalls, 30 of which are set aside for local residents with Hawaii identification. By Monday morning, the first four days of this week were completely sold out, but the actual yield of cars and people at the park itself seemed less than the sold out status suggested.

 

 

 

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