Kauai Real Estate, Southwest To Add Direct Flight To Kauai, National Real Estate Update

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate, Southwest To Add Direct Flight To Kauai, National Real Estate Update

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I Just Sold Nihi Kai #502! Click on this picture for the details on this 2/2 fee simple condominium with AC and a short walk to the beach. $660,000 (FS)

Kauai Real Estate Update
For a complete list of everything that Sold, was Just Listed or went into Escrow last week on the island of Kauai click here: Kauai Real Estate Update October 21 to October 27, 2019

Poipu Beach Real Estate Update- I just SOLD Nihi Kai #502.  I loooooved this unit because it checked all the boxes: AC in the living room and both bedrooms, remodeled, walking distance to Brenneckes and direct rental income already in place for the new owners.  For all the latest news on Poipu click here: Poipu Beach Current Market Analysis

Kiahuna Plantation Real Estate Update- After only 12 days on the market Kiahuna Plantation unit #425 which had a super remodel went into escrow.  Priced at $129,000 (LH) it was one of the lowest priced corner units on the market.  To see details on that unit click here: See Information On Kiahuna #425.  For the real estate information on the resort click here: Kiahuna Plantation Current Market Analysis

A $1 Million Dollar Home In Hawaii Smallest In The Nation
In Hawaii, $1 million won’t buy you much in terms of home size.  Hawaii has the 5th-smallest typical $1 million home at 1,710 square feet and four bedrooms and two bathrooms. The national average is 2,200 square feet with four bedrooms and 2.5 bathrooms.

Many of the largest available $1 million homes are in cities in the South and Midwest, like Tulsa, Oklahoma and Plano, Texas, while the smallest ones are in California cities like San Francisco and Oakland. Condos also make up a large proportion of million-dollar homes in large, coastal cities like Fort Lauderdale, Naples, Miami and Boca Raton in Florida, Jersey City in New Jersey, New York City, San Francisco and Irvine, California.
Unsurprisingly, million-dollar homes located further commutes from a metro area’s main city are generally much larger.

Southwest Airlines Adds More Hawaii Flights
Southwest Airlines has a bullish outlook for 2020 and direct flights to Kauai are a part of that rosy outlook!

For the end of their Fourth Quarter Southwest states that they expect another positive report.  Customer demand for Hawaii flights is strong and their revenue stream is positive despite the recent grounding of the MAX airplanes.  The Honolulu to Lihue flights were bumped up from starting in January 2020 to November 2019.  New flights from Oakland and San Jose to both Lihue and Kona will begin in January 2020.  By March 2020 they plan to offer 12 daily departures from California to Hawaii and a total of 34 daily departures from the mainland to Hawaii.  Southwest is extremely pleased with the customer demand for these flights to Hawaii and they stated that they will continue to focus on that growth in 2020.  Looks like they are still running some specials…
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2019 Compared To 2018 National Real Estate Sales
On a National Level the total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 2.2% from August to a seasonally adjusted annual rate of 5.38 million in September. Despite the decline, overall sales are up 3.9% from a year ago (5.18 million in September 2018).

First-time buyers were responsible for 33% of sales in September, up from 31% in August and 32% recorded in September 2018. The National Association of Realtor’s 2018 Profile of Home Buyers and Sellers revealed that the annual share of first-time buyers was 33%.

On Kauai the demand for a home $700K and under is incredibly strong.  Any home price that has a “6” in front of the listing price gets pounced on with listing agents reporting multiple showings and offers.  The onslaught of multi million dollar spec homes that came on the market trend is the chicken that is coming home to roost.  On a National level this multi million home price market has high inventory and softening prices.  It’s too bad but developers were focused on building the big splashy mansions while the demand for lower priced inventory kept increasing.

People Getting Too Close To Monk Seals
Smart!  Government researchers are now looking at social media to see if the public is staying away from our endangered Monk Seals.  These are a critically endangered species that is protected by Federal and State law and if you are caught not staying at least 50 feet away you can get fined.

By using the hashtag #monkseal they found more than 2,000 posts to Instagram with people 10 feet away from the seal, the National Oceanic and Atmospheric Administration (NOAA) says this is way too close.  Seals in the photos are seen responding to some type of disturbance by looking, moving away, or mouthing or barking.

 

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