Kauai Real Estate, Kauai Beach Resort Sold, Kauai Real Estate 2019 vs 2020 Sales Comparison

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate, Kauai Beach Resort Sold, Kauai Real Estate 2019 vs 2020 Sales Comparison

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 Report April 27 to May 3, 2020

Poipu Beach Real Estate Update- My Poipu Beach Fee Simple real estate page has been updated, to get caught up on all things Poipu click here: Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate Update- I’m so happy to report that the Kiahuna Plantation Homeowner Board approved the installation of split system AC units and have put together the guidelines for owner to use should they wish to install AC.  Installing AC is not required, strictly elective.

The Homeowner Board worked during this downtime to accomplish a very large task, great work by the Board.
For a Kiahuna Plantation real estate update click here: Kiahuna Plantation Current Market Analysis

Couple Try To Sneak Onto Kauai By Private Plane
On Sunday a private plan flew in from Maui and landed, without authorization, at Port Allen Airfield.  Port Allen is located on the south side of the island near Hanapepe.  The plane dropped off a couple who were trying to sneak onto our island.  The couple had not filed out any of the required documentation and were attempting to leave before being caught by the Police and the National Guard.

The incident is under investigation.  Despite the stringent rules the numbers of tourist arriving is climbing.  On Sunday 16 flights (or 17 if you count the renegade Maui to Kauai flight!) flew into the islands with a total of 759 people, of those 228 were visitors.

Should You Keep Your Property On The Market?
Case In Point, Kauai Beach Resort Unit Sells For $12K over asking
Do you keep your property listed, or not?  I do not have a blanket response to this question, I arrive at the answer by talking to my Sellers.  Their feelings on having people in their home varies, those have their vacation rentals listed are generally not concerned about a showing.  Also factored in is the emotional aspect, do you have the bandwidth to ride through this uncertain time?  A time when answers are not easy to come by?  By dialoguing with my Sellers we arrive at what works for them.
Buyers are out there albeit not in the numbers they were.  Facetiming Buyers and walking them through the property has become our new normal.  How close things sell to list is price dependent.  Example is my Kauai Beach Resort listing; we lowered the price to $99K and sold it for $111,000.  Prices seem to be holding steady in the under $500K range.  The more north you go of that price the more the Buyers are wanting to deal.
Then there is the instability of the Investment Jumbo Loan market which now require a 25% down.  This Jumbo Loan market went from being the darling of lending to an ever changing landscape.  Second Home or Primary Residence Jumbo Loans not an issue (for now) but Jumbo Investment loans are at this point in time.
Recently a listing of mine that is well north of a Million got an accepted offer that both parties were very happy with.  The Buyer’s agent and I were just in constant communication on this and worked out a scenario that both parties were happy with.  Had my Seller taken his home off the market because he was discouraged by what’s happening this might not have happened.  Having an online presence is paramount in todays world.

Take A Walk By The Beach House
I’ve been posting videos of walks that I’ve done on a couple of Facebook pages that I belong to and the response has been amazing.  Visitors that had to cancel their trips, or those that own property near where I walk, are so excited to see a place they love as I’m walking through.
This last one I did was the walk by The Beach House and it had 500 likes on Facebook and 107 comments and folks I answer every one!  The positive energy that these posts have generated I’ve been really happy with.

Enjoy the one that I did of the Beach House, have your sound on.

Kauai Real Estate Year To Date Report
This month is when we’ll start seeing the fallout of the COVID pandemic.  The sales reported in April will be those that were started in February and March with the downturn starting in mid March.
The number of sale are down compared to last year pretty much across the board.  The Median Prices remains steady.  If you have a question on your property, or a property you’d like to purchase, give me a call at 808-346-0056
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