Kauai Real Estate, Wainani At Poipu Lot In Escrow, Kauai Leads Hotel Growth

Kauai Real Estate SOLD and NEW listings Island Wide! Comments Off on Kauai Real Estate, Wainani At Poipu Lot In Escrow, Kauai Leads Hotel Growth

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

Wainani At Poipu Lot #15 In Escrow. Horizon Ocean Views and located on the golf course this lot is perfectly situated for building your dream home that will have a back yard protected from the trade winds. Call me for additional information on other inventory 808.346.0056 Click on the photo for a video tour.

Kauai Real Estate Update

It was a busy Thanksgiving week.  I have a friend who works at Keoki’s here in Poipu Beach and he said that there were 591 dinner reservations between 3 and 9 p.m.  They were turning people away right and left.  Hopefully this will translate to some good real estate activity, we’ll see signs of that this week.
For a list of everything that has Sold, New Listings and the properties that went into Escrow for last week on the island click here: Kauai Real Estate Update November 19 to 25th, 2018

Poipu Beach Real Estate Update- I remember when we had Fee Simple condominiums for $350,000 and now I’m getting calls from agents desperately looking for something under $500K.  Pickings are slim in Poipu for that kind of inventory; we just have one fee simple condo that squeaked in to be under $500K and it’s a Manualoha unit for $499,999.  For a complete update click here:  Poipu Beach Fee Simple Current Market Analysis

Kiahuna Plantation Real Estate- click here to get the latest news: Kiahuna Plantation Current Market Analysis

Kauai Leads State In Hotel Revenue Growth
The state reported decreased occupancy in the month of November but Kauai led the state in RevPAR growth (Revenue Per Available Unit).  Year To Date the state RevPAR and ADR has increased 5.5%.
According to statistics released Tuesday by the Hawaii Tourism Authority, statewide hotels reported a 0.3% increase in revenue per available room to $190, while occupancy declined 2.5 percentage points to 76.4%. This offset a 3.5% increase in average daily rates to $249.  The hotels in the state that are near the Big Island of Hawaii continued to feel the lingering effect of Kilauea volcano’s eruption.  Here is the breakdown:

Kauai led the state in RevPAR growth, up 7.7% to $194 last month. This was bolstered by an 11.5% increase in ADR to $264, which offset a 2.6% point dip in occupancy to 73.6%.

Big Island properties reported a 7.2% drop in RevPAR to $156, while occupancy declined 7.4 percentage points to 66.1%.

On Oahu, RevPAR last month increased 1.4% to $185 and ADR rose 2.4% to $228. This offset a 0.8 percentage point decrease in occupancy to 81.4%.

Maui RevPAR was the highest at $217, but this was a decline of 1.8% compared to last October. ADR increased 3.8% to $307, but occupancy dipped 4 percentage points to 70.9%.

Oahu Hotel Strike Still In Full Force
The strike in Honolulu is not helping occupancy as the strikers remain at the picket line.  Thanksgiving day marked their 46th day on the line and they held a potluck in Waikiki for the strikers and their families.  At the Moana Surfrider on Black Friday University of Hawaii students were printing “One Job” logo on any blank cotton shirt that people would bring in.
Kyo-ya Hotels and Resorts has been negotiating with Unite Here Local 5 Union and while offers have been getting rejected it appears that they might be inching closer. Kyo-ya, which owns the five Marriott properties that have had strikes since Oct. 8, said it offered an increase in combined wages and benefits that is higher than what was agreed to in other striking cities, including Boston, San Diego, San Jose, Chicago and Oakland. The offer also included a reduction in workload for housekeepers.
The Union said that the other cities do not compare to the profitability of the Hawaii hotels and the cost of living is a lot higher here and that wages have not kept up with the rising costs of living.
As of this posting there are ongoing negotiation talks.

Opponents of Poipu Dairy Celebrate
Those concerned about opening a dairy in the Mahaulepu valley started celebrating Tuesday after Big Island Dairy owners announced they’ll be shutting down operations on Hawaii Island.  Owners confirmed the Ookala facility was being discontinued for financial reasons but that is not the main cause of Friends of Mahaulepu’s celebration. Residents of Ookala formed the citizen group “Kupale Ookala” and have been launching complaints about the dairy, located on state land, contaminating nearby community water sources. Some of the bigger incidents include a three-day event in May that released nearly 2.3 million gallons of rain and wastewater, and a wastewater pond overflow due to Hurricane Lane in August.  Following a federal Clean Water Act lawsuit, the state Department of Health fined the dairy $25,000 in May 2017 for unlawful discharge of water.

Kauai group Friends of Mahaulepu teamed up with Kupale Ookala to research state water testing data, attend meetings and testify at hearings.  The group has for years been battling a plan to put a 699-cow dairy on 557 acres of Important Agricultural Lands in Mahaulepu — and they say they saw their fears realized in the Big Island situation.  “We knew we had to fight for them because it would help the people of Kauai as well,” said FOM president Bridget Hammerquist. “FOM is relieved for the people of Ookala.”  The FOM Board of Directors attended the meetings, photographed Big Island Dairy and invited Oahu environmental activist Carroll Cox to attend and be part of a helicopter flyover that documented waste runoff from the dairy into the Ookala streams, through their community and into the ocean.

Site by Thinkingman.com
News Feed Comment Feed Log in