Kauai Real Estate Update, Oahu-Maui-Big Island YTD Real Estate Stats, Marriott Hotel Workers Strike

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate Update, Oahu-Maui-Big Island YTD Real Estate Stats, Marriott Hotel Workers Strike

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Preview this stunning $17 Million Dollar estate located in Kilauea by clicking on this photo. Soon to be released by one of our RE/MAX agents on the north shore. Call me for additional information: Lynda Gill 808.346.0056

Kauai Real Estate Update 
Preview a $17 Million Dollar listing that a North Shore RE/MAX agent is going to be listing.  Located at “Pavillions at Seacliff” in Kilauea this 4 bedroom 4.5 bath home has 5,100 sq ft of living area on 7.99 acres of land and ocean views that go on and on.  I’ve got the full preview for you by clicking here:  Pavillion Seacliff Listing
For a complete list of everything that has Sold, went into Escrow and New Listings island wide click here: Kauai Real Estate Update October 1 to 7, 2018

Poipu Beach Real Estate Update- to find out the latest on Fee Simple real estate activity in Poipu Beach click here: Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate Update- For a complete update on this resort click here: Kiahuna Plantation Current Market Analysis

FAA To Enforce Legroom Space On Airplanes

For those that take the long flights to Hawaii from the mainland here is some good news!  The U.S. Senate passed legislation last Wednesday giving the Federal Aviation Administration (FAA) authority to regulate the size of seats and the spaces in between them. The bill has already been passed by the House.
The legislation was included in the FAA Reauthorization Act of 2018. The FAA will work with experts and airlines to mandate minimum seat size standards on all commercial passenger planes consistent with airline passengers’ health and safety needs. The agency would have one year to set the minimum requirements.

Not surprisingly our own U.S. Senator Brian Schatz, D-Hawaii, voted to pass the legislation, saying the bill “Gives the FAA the authority step in and say enough is enough.  Hawaii travelers are tired of getting less and less space for their hard-earned money.”

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Some of the strikers on Kalaukaua Avenue demonstrating on Monday. Hotels impacted are the Royal Hawaiian, Sheraton Waikiki, Westin Moana Surfrider, Sheraton Princess Kaiulani and Sheraton Maui. Photo courtesy of Pacific Business News

Hawaii Marriott Hotel Workers Strike 

The first to go on strike was Boston followed by San Francisco, San Jose, Oakland, San Diego and Detroit.  Now Hawaii.
Yesterday morning 2,700 Marriott hotel workers in Hawaii went on strike after months of negotiations for higher wages were unsuccessful.  Members of the Unite Here Local 5 hotel workers union from six Marriott properties in Honolulu and Maui voted to authorize the strike last month; however, only the five Hawaii Kyo-ya owned Marriott properties went on strike Monday. Other Hawaii Marriott properties could go on strike at any time, according to Paola Rodelas, spokesperson for Unite Here Local 5.  No word on how long they will be striking.
Workers will be picketing at five hotels operated by Marriott and owned by Kyo-ya: Sheraton Waikiki, The Royal Hawaiian, Westin Moana Surfrider, Sheraton Princess Kaiulani and Sheraton Maui.

Oahu, Maui and Big Island Real Estate Update

Last week I blogged about Kauai’s Year To Date real estate activity.  If you would like more market data you can download that here: Lynda Gill’s Kauai YTD Real Estate Graphs

Now let’s move on to Oahu, Maui and the Big Island real estate market:

In Oahu the median price of a single-family home last month rose to $812,500 which is a 6.9%ent increase from $760,000 in September 2017 and has surpassed the all-time record of $810,000.  The number of sales, however, dropped 17.4% to 309 homes sold in September, from 374 sales during the same month last year.
Condominium sales on Oahu also declined, by 2.9%, to 511 unit sold in September, from 526 units sold in September 2017. The median price of an Oahu condo in September was $428,000, an increase of 0.7% from $425,000 during the same month last year.

On Maui the number of Residential homes that sold Year To Date in 2018 is 879 which is 6.4% increase from 826 in 2017.  The Median Price remained flat at $700,000.
Condo sales are up also by a whopping 21.6% at 1,277 sales compared to this same time last year at 1,050.  The Median Price rose to $499,000 which is a 11.4% gain from $448,000 from last year.

The median price of a single-family home on the Big Island of Hawaii rose by nearly 11% last month to $368,000, an increase of 10.69% from $332,450 in September 2017. That was based on sales of 185 homes, which was a 9.3% decline from 204 homes sold in September 2017.
Condominium sales also declined to 59 units sold in September, 18% fewer than the 72 units sold in September 2017. The median price of those units was $297,500, which was a decline of 1.49% from $302,000 in September 2017.

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