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

Kauai Real Estate Sales

Will and Lynda Gill attend the Elton John concert with Kauai locals Steve and Mona Hanley and 6,000 of their closest friends

Last weekend my husband and I went with a couple of other Poipu Beach locals to the Elton John concert along with 6,000 other rabid fans, this is why the blog took a hiatus.  The concert was a blast and Elton John at 64 years old seems unstoppable.  He played for 2 1/2 hours at the Blaisdale Arena, his first show on Friday night sold out and we were fortunate to get tickets for the extra night that was added.  I did not see one empty seat.  We made a mini vacation out of it and did some serious eating at some great Oahu restaurants.  Shopping too!

Sales were excellent this last week.  Here at the Kiahuna Plantation (LH) we had a foreclosure go under contract.  This is an oceanview

Kiahuna Plantation (LH) #207 Bank Owned 2 Bedroom 2 Bath Oceanview Listed at $425,000 IN ESCROW

2 bedroom 2 bath for $425,000.  Super bargain and it got snapped up quickly.  For the rest of the island we had just about as many properties go under contract as we did come on the market, on top of that we had 10 properties that closed escrow.  Busy, busy, busy real estate week.   Here is an excel spreadsheet giving you the details CLICK HERE FOR COMPLETE SPREADSHEET

Hawaii Foreclosure Drop 50% In 2011

Statewide, a total of 6,012 homes, or about 1.2 percent of all housing units, were in some stage of the foreclosure process in 2011.  That amounts to one in every 86 housing units which is a 52 percent drop from 2010, and a 33 percent decline from 2009.
Nationally, the number of foreclosure filings fell 34 percent from 2010, and 33 percent from 2009.
Attributing to this huge decline is the fact that lenders are grappling with Act 48, a state law that changed the way they could file nonjudicial foreclosures which was enacted last May.
Here are the islands foreclosure numbers listed in order of the foreclosure numbers verses their housing supply; The Big Island was the highest in our state with 1,840 properties which is one in every 44 housing units and 2.3 of their housing.  Maui was the second highest with 1,307 foreclosures which account for 2% of their housing market, Kauai number three with 424 homes which is 1.4% of our housing market and Oahu was last with 2,441 properties and that’s 0.72% of their housing units.

Airline Seat Capacity Forecast To Grow By 3.8%
Hawaii Tourism Authority projected a 3.8% gain in airline seat capacity for the first quarter of 2012 compared to 2011′s first quarter.  Most of the travelers are expected to come from the West Coast, Asia and Australia.
Where are they going to?  The neighbor islands.  Who is the big neighbor island winner?  Kauai.  Oahu is only expected to grow by less than 1%.  Kauai is forecast to see the greatest increase, with air-seat capacity to Lihue projected to increase by 25.8 percent, in part because of the addition of direct service from the California cities of Oakland and San Jose. Maui’s Kahului Airport is expected to see an increase of 5.8 percent more air seats, while the Big Island’s Kona Airport is expected to see a 4.4 percent increase in air-seat capacity.
Visitors from Japan are projected to increase by 5.2% and Canada a whopping 28.2%  The Korean market is forecasted to grow due to new flights with Asiana Airlines, Korean Air and Hawaiian Airlines.  Air Australia will add 18 flights between Honolulu and Brisbane and Melbourne.  Jetstar and Hawaiian are also increasing their Australia flights.

Hawaiian Airlines Adds Hawaii Hub And More Interisland Flights

This news is a direct reflection on the increasing tourism that we are experiencing.  It was announced last week that Hawaiian Airlines is creating a second Hawaii hub in Kahului to improve connections between Maui and the West Coast as well as the other Neighbor Islands.

23 to 25 new interisland flights will be added and this new hub will accommodate about half of those.  Also, starting this June, Hawaiian Airlines is going to restart their Maui to Los Angeles flight.  The airline has acquired 3 new Boeing 717-200 aircraft for the new flights.