Kauai Real Estate, Poipu Aina Home Sold, Kauai 2019 vs 2020 Year End Review

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate, Poipu Aina Home Sold, Kauai 2019 vs 2020 Year End Review

Kauai Real Estate Update- Julia Roberts sold her beachfront Kauai estate last month for just about double what she paid for it in 2008.  Her 8.3 acre Haena property sold for just under $20 million, purchase price was $10 million in 2009.  For an update on the properties that Sold, were Just Listed and those that went into Escrow island wide this last week click here:  Kauai Real Estate Update December 28, 2020 to January 3, 2021.

 Poipu Beach Real Estate Update- Sold!  I represented the Seller on the sale of his luxury home in Poipu Aina Estates.  This 3 bedroom plus office home is on almost 3 acres of land and just minutes away from everything that Poipu Beach has to offer.  Sold Price: $2,375,000
My Poipu Beach Real Estate page has been updated with the real estate activity since January 1, 2021, to access that click here:  Poipu Beach Current Market Analysis

Kiahuna Plantation Real Estate Update- On Sunday I did a final walk through for my clients that are buying #35, I took a video of the beach on Sunday morning and I’m including it here for you.  I’ve updated my Kiahuna Plantation Real Estate page to provide the latest activity, access that here:  Kiahuna Plantation Real Estate Current Market Analysis

Kauai Reinstates Interisland Travel
Starting today, January 5 2021, Kauai has reinstated interisland travel with a negative COVID test taken within 72 hours of coming here to Kauai.  Also approved was a post travel test taken 3 days after arrival provided the traveler is staying at a “Resort Bubble”.  For a list of approved Resort Bubbles click here:  County of Kauai Approved Resort Bubbles.

As of today January 5, 2021 here are the options to get to Kauai:

  1. With your negative COVID test travel to Oahu, Maui or the Big Island and stay for a least 3 days.  Take a COVID test while on that island and if negative you can fly here to Kauai and avoid the 10-day quarantine
  2. Provide a negative COVID test and stay in one of the approved Resorts Bubbles. After three days take another COVID test and if negative you are out of quarantine.
  3. Test or no test, if you fly here to Kauai directly from the mainland, or without having stayed on another island for 3 days, quarantine for 10 days.

Kauai Real Estate Year End Review
Real estate on Kauai in 2020 started off normally.  January and February were very good months and the expectation was that we would pretty much duplicate 2019.  That was how we thought for the first two months.
Then in March of 2020 the State of Hawaii did a rapid fire series of shut downs due to the Corona Virus.  We saw the real estate machine start to grind slowly to a halt.  By the end of the month we went from “business as usual” to…what?  The Realtors on Kauai didn’t know what to expect, some thought it might be 2008 all over again.
I remember looking at our savings account and thinking that if we were locked in our house for the rest of the year we’d be okay, I just didn’t know where this was going to go.  I never would have believed it would be my best real estate year ever and that Kauai would see the kind of real estate activity it did for 2020.  Many of the top agents that I work with have said the same thing, we just did not see this coming.
But it didn’t start out that way.  In April/May a lot of deals fell apart which was not too shocking.  What was surprising was in June the uptick in the residential housing market.  Driven mostly by record low interest rates and mainlanders looking to escape the city we started getting busy, and it didn’t stop. Houses in the $600K to $800K range??  Holy Smokes, it was crazy busy.  Then Land started picking up then residential condominiums.  The market is still slow for vacation rental condominiums and that will turn around when the tourists can start coming back.

Below is a graph that compares the 2019 real estate year to the year 2020.  Here are some bullet points:

  • The number of sales across the board is down with the exception of the North Shore however, this number is a bit skewed. Last year the North Shore sales were way down with the floods and the 2019 numbers reflect it.
  • Median Price for Homes and Land are up across the board.
  • Condominium prices are down and this makes sense as most of our condominiums are primarily vacation rentals. The North Shore bucked that trend.
  • Sales for condos in Lihue are up because they are mostly residential. Their prices are lower due to the drop in the vacation rental condo prices.
  • Lack of inventory is the primary reason for the lower number of sales.

These numbers are general in nature and might not accurately represent your particular area of interest.  Please give me a call for a more detailed and accurate report on the Kauai property that you are interested in.  Mahalo and Happy New Year!

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