Lynda Gill’s Poipu, Kauai, Hawaii Real Estate at Pacific Ocean Properties

Kauai Real Estate News

My listing Kiahuna Plantation (LH) #234 in escrow. Listed at $239,000. One bedroom one bath upgraded ground floor unit, Garden View Deluxe.

Nothing but good news for the Kauai real estate market this last week.  First off my Kiahuna Plantation (LH) unit #234 which is listed at $239,000 is in escrow and will be closing very soon.  This is a ground floor unit in building #36 and had some really nice upgrades.  Secondly you will see on the excel spreadsheet a huge amount of sales activity and properties going into escrow and not a lot coming on the market-at all.  Of note are two properties;  One is a Kuhio Shores short sale that was listed at $427,800 and sold for $461,100 and was a cash sale, that’s right it sold for over the asking price (this can happen in short sales as there may be multiple offers and/or the bank is the one that sets the final price).  Also you’ll see a Kiahuna Golf Village home that’s listed at $1,100,000.  This home I know well as it’s in my neighborhood and close to where I live, it was foreclosed on and a bank owned property (different than a short sale).  I called the agent on it and she said on day 3 they had an accepted offer.  So its shows as active on the spreadsheet but its under contract.  I toured the home anyway and it’s a steal at $1,100,000, one of the cleanest foreclosed on homes I’ve ever seen.

Keep in mind that this sales activity that I’m writing about is general in nature for the island of Kauai and not meant to be a blanket statement for every property.  Call or email me to find out where your property, or the property that you are interested in, is doing in this market.  There is recovery island wide, no doubt, however the speed of recovery will vary with different segments of the market.  Call me to discuss (I LOVE to talk about Kauai real estate!).

For a list of what went into escrow, sold and came on the market CLICK HERE FOR SPREADSHEET

Allegiant Air Announces New Non-Stop Air Service

Last week Allegiant air announced the company will begin new, nonstop air service from the mainland to Honolulu.  We’ve seen this pop up every now and again in our news and now its official.  The routes will be Honolulu to Las Vegas (which is the eighth Hawaiian island) and……Fresno!  Andrew Levy, Allegiant President said “Service to Las Vegas and Fresno reflects a moderate growth plan by our company. With the addition of the four aircraft we have acquisitioned, we plan to expand service to other mainland cities in the future. We anticipate the service will be very popular, especially when customers take advantage of Allegiant’s low pricing when bundling their air, hotel and car rental package.”

Allegiant announced last week they will have special airfares to celebrate the new flights, call them at 702-505-8888 to see if you can take advantage of those specials.  Here are the new routes;

1. Fresno, Calif. — begins June 30

2. Las Vegas — begins June 29

Disney Plans Family Adventure Movie Set In Hawaii And Brings 2 New Cruises To Hawaii

A nice shot in the arm for Hawaii’s economy comes from Disney.  Screenwriter Joe Gazzam, whose credits include “21 Jump Street,” has been hired to write a family adventure film for Disney that will be set in Hawaii.

Variety reports that the untitled project will be produced by Ahmet Zappa’s Monsterfoot Productions and Scott Sanders Productions.

The Walt Disney Company opened its first Hawaii resort Aulani, a Disney Resort & Spa in Ko Olina last summer and is scheduled to bring two Disney cruises to Hawaii this year starting at the end of this month.

Kauai Property Tax Revamps Assessments

People who own property in Kauai have been getting a form from the Department of Finance asking them how they use their property.  Rather then taxing by established zoning they are now going by usage.  My guess for this change is the County can flesh out those vacation rentals that are operated in residential zoned areas and tax them at a higher rate.  You need to fill out the form and send it in within 45 days or they will automatically figure your property at the “highest and best use”.

Barrons Magazine Rates Kauai #2 Place To Buy Second Home

The prestigious Barrons Magazine starts off their article saying “The luxury second-home market is now firming up again….”  They go on to list 20 of their tops picks for their readers to focus on.  Number 1?  The Hamptons.  Number 2????  Kauai!!!  Here’s how they start off describing us “Kauai is quainter than Oahu, Maui or the Big Island, and is the least developed of the major islands and the most reminiscent of South Pacific.”

No surprise Kauai is so high on Barrons list.  #6 is Maui and no other Hawaiian island made the list.