Kauai Real Estate Update, Kauai Travel Rules, Marriott To Cease Operations In Lihue

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate Update, Kauai Travel Rules, Marriott To Cease Operations In Lihue

<img src=”image.gif” alt="kauairealestateagentrank“/>

Information pulled from MLS for Taxkey 4

Kauai Real Estate Sales-  In 2020, on the island of Kauai I was #4 for the most number of sales.  In the end it’s always this number that means the most to me, it means a large number of Buyers and Sellers trusted me and this means so much to me.  So motivating for me going into 2021!  Mahalo Nui Loa.
For a complete list of all the properties that Sold, were Just Listed and those that went into Escrow on the island of Kauai last week click here:  Kauai Real Estate Sales January 4 to 10, 2021

Poipu Beach Real Estate- I’ve updated my Poipu Beach Real Estate page to provide a market analysis for the fee simple market in Poipu.  Click here to access:  Poipu Beach Fee Simple Current Market Analysis

Kiahuna Plantation Real Estate- Sold!  I brought in the Buyers and represented the Seller for Kiahuna Plantation #35 which ticks a lot of boxes:  Ocean/Great Lawn Views, Top Floor Corner Unit, Renovated and the extra floor to ceiling louvered windows and….located in building 7 you have Location, Location, Location.  If I can help you find your dream Kiahuna Plantation unit I welcome you to give me a call.
For a complete run down on the real estate market at Kiahuna click here:  Kiahuna Plantation Current Market Analysis.

Kauai Marriott In Lihue To Cease Operations
As of March 1, 2021 the Kauai Marriott in Lihue will stop operating as a Marriott branded property.  A group called Sonesta International Hotels Corporation, which is out of Massachusetts, will take over the hotel which largely operates as a time share.  Marriott will lay off 457 employees and it’s not known yet if the new owners will be hiring them back.

Hawaii Tourism Numbers Higher Than Expected
Hawaii’s Council on Revenues revised its forecast for Hawaii’s state revenues upward to a decline of 6.5% during the remaining six months of the current fiscal year, this is lower than the 11% set last September.
The numbers for 2020 were better than the State expected.  It was thought the State would recover 15% to 20% for the last quarter of 2020, but those numbers came in 5% higher than projected.  More jobs were recovered in the last quarter than expected as well.
The higher numbers were attributed to “Pent-Up demand for tourism”.

Hawaii’s State House Speaker Considers Uniform Travel Rule <img src=”image.gif” alt="kauaitravel“/>
House Speaker Scott Saiki is considering introducing legislation that would establish uniform COVID travel rules.  The speaker stated:  “I get it that each mayor is totally concerned about the health and safety of the residents on their islands, but our economy is a statewide economy, and travel and tourism is a big component of that statewide economy.”
Our Governor currently allows each Mayor to establish their own travel rules and those rules require the Governors final approval.  As we’ve seen on Kauai the Mayors have the authority to opt out of the safe travels program and this is causing confusion in the tourism industry.
I’ll be keeping on top of this one and will let you all know immediately if this comes to fruition.
For now here is a graph on how you can get to Kauai under our current system.  I was in Oahu from January 4 to the 6th and the travel procedure we did would fall under the first column “Interisland Traveler In State for 72+ hours”  We both took our COVID test on Oahu, had our results by the time we left and took the extra step to print them.  I highly recommend this, I would not rely on uploading them to the app.  At the Lihue Airport our Safe Travels app was checked along with our test results.  The result:  No Quarantine for us.

2019 vs 2020 Real Estate Review
Last week I did the year end review for Kauai Real Estate Sales which compared 2019 to 2020.  Now I have the data for Oahu, Maui and the Big Island.  Let’s check in and see how their 2020 sales compared to 2019.

Oahu had a great 2020 for real estate.  The president of the Oahu Board of Realtors had this to say:  “Instead of the typical seasonal lull, the Oahu real estate market saw steady – and even slight increases – in activity through the year’s end despite the ongoing effects of the pandemic.  Record-low mortgage rates paired with cautious optimism around reopening continued to drive activity, allowing the market to surpass sales and near new listing levels compared to the fourth quarter of 2019.”
In 2020, there were 3,838 single-family homes sold, an increase of 2.3% from 3,750 homes sold in 2019. The median single-family home price for the year was $830,000, an increase of 5.2% from $789,000.
Condominium sales were down 13% to 4,706 units, from 5,408 units in 2019.  However the Median price was up at $435,000, an increase of 2.4% from $425,000.

For Maui the number of single-family homes sold in 2020 fell 5.8% to 1,055 homes, from 1,120 homes in 2019.  However, following suite, the Median price saw a 7.3% increase to $795,575 compared to $741,178 in 2019.
The number of condo sales were down 17% to 1,336 units compared to 1,609 units in 2019. The median price, however, rose 10.5% to $570,000, from $516,000 in 2019.

On the Big Island of Hawaii the number of homes sold increased 9% to 2,653 compared to 2,434 in 2019. The median single-family home price for 2020 rose 8.35% to $410,000, from $378,420 in 2019.
The number of condominiums that sold were down 12.99% to 750 sold in 2020 compared to 862 sold in 2019.  The Median Price is up 9.12%, coming in at $395,000 for 2020 compared to $362,000 in 2019.

Site by Thinkingman.com
News Feed Comment Feed Log in