Kauai Real Estate, Kauai Eases Restrictions, Oahu-Maui-Big Island Real Estate Update

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate, Kauai Eases Restrictions, Oahu-Maui-Big Island Real Estate Update

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Construction resumed last week on Building 4, the last building in the Pili Mai project. Already some interior work has bee completed such as flooring, appliance installation and countertops.

Kauai Real Estate
A 372 five parcel property on the North Shore was recently listed for $40.5 million dollars.  It’s owned by the executive producer of “ER” and “The West Wing”.  His Kauai Ranch is known as Wai Kala Ranch and it’s located in Kilauea.  This remote property has a 4 bedroom 3.5 bath home along with an additional 2 bedroom 1 bath residence.  Both were extensively remodeled just last year.  To access this property click here: Wai Kala Ranch Listing Details
For a complete list of everything that has Sold, was Just Listed and what went into escrow last week on the island click here: Kauai Real Estate May 4 to 10, 2020

Poipu Beach Real Estate- A part of Kauai’s easing of restrictions has been construction resuming and the Pili Mai crew has been back at work to complete their final building #4.  This is the last building for this property and it’s completion date was set for the month of June and they are still on track to make that happen.  To access the current information on Poipu Beach Real Estate click here: Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate- Back On The Market and price refreshed to $129,900 (LH).  Kiahuna Plantation unit #91 is currently the lowest priced unit in Phase 2.  Located on the second floor of building 16 which is within easy walking distance of the Kiahuna beach and the Poipu Beach Athletic Club.  Contact me for more details at 808-346-0056.
For all the real estate activity at this resort click here: Kiahuna Plantation Current Market Analysis

Restrictions Easing On KauaiExactly a week ago some of our restrictions on Kauai and the Big Island were lifted.  Maui lifted some of theirs on Monday May 11 and Oahu will on May 15.
Here are just some of the Kauai changes:

  • 9 pm to 5 am curfew lifted
  • Opening of some businesses which include shopping malls, retail stores, car washes, pet groomers.
  • Elective surgeries can now resume
  • Golf courses are now back open
  • Florists were open in time for Mothers Day

All are being done with social distancing guidelines in place.  Governor Ige said we are now in the “Stabilization Phase”.  The next businesses to open will be hair salons, churches and restaurants but those dates have not been announced.

UHERO Says “Get A Plan To Reopen”
The COVID data work and basic information gathering from all sectors of our market comes from a task force under the organization of UHERO, which stands for University of Hawaii Economic Research Organization.  UHERO has been around since 1997.  This particular task force will have speakers contributing such as the Head of Tourism Mufi Hanneman, Peter Ingram CEO of Hawaiian Airlines, Peter Ho the head of Bank of Hawaii, Dr. Mugiishi the head of Hawaii Medical Association, Representatives from government etc.

They have been holding weekly meetings and this last Mondays meeting there were two interesting subjects.  The public and media can attend but not comment.
Yesterday (Monday, May 11) the meeting had a different vibe from the others and there was a question posed by a Major of the Hawaii Emergency Management Agency who said that the people are needing a plan to reopen, that this can’t wait any longer.  This sentiment was echoed by the CEO of Bank of Hawaii and several other members.  I was encouraged that the Speaker of the House said that he’ll contact Governor Ige to set up a meeting this week for the group to meet with him on this subject.  It was clear that they all felt the time had come, and that there can’t be any delay, on giving the public a plan to open back up the State.

More news on this when I have it.  To see previous meetings go to:   http://olelo.granicus.com/ViewPublisher.php?view_id=31

Oahu, Maui and Big Island YTD Real Estate Sales
Last month I reported on Kauai’s Year To Date real estate activity compared to this same time last year.  The impacts of COVID will be better seen from the closings that happen in May forward as those are the sales that largely started in March/April.

On Oahu residential sales increased by 4% YTD and the median price increased by 5% to $810,000.
Condominium prices were at $450,000 which is an 8% increase from last year, the number of sales were down by 5%.
The number of new listings are down by 42% compared to this same time last year.

On Maui there was a total of 342 homes sold YTD compared to 316 in 2019.  The Median Price is up by 1.6% to $762,000 compared to $750,000 in 2019.  New listing are down 24.6% to 435 YTD compared to 577 in 2019.
For condominiums on Maui the number of sold properties in 2020 YTD was 509 compared to 543 in 2019.  The median price for a condo is up by a little over 10% to $569,000 compared to $517,000 in 2019.

On the Big Island there have been 811 homes sold YTD compared to 727 this same time last year.  The median price is up by 9.46% to $405,000 compared to $370,000 this same time last year.
Condominium sales are following the same trend as the other islands; the number of sales Year To Date were at 235 compared to 303 this same time last year representing a 22.44% decrease.  The media price was slightly up to $375,000 compared to $372,00 in 2019.

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