Kauai Real Estate and Local News

Kauai Real Estate SOLD and NEW listings Island Wide! Add comments

*****Kauai Real Estate News*****

A single bidder has won the right to buy the remaining 200 units at the Ilikai Hotel for $50 million dollars.  iStar FM Loans LLC offered the only bid for the iconic hotel.  Another bidder could still come forward at the upcoming confirmation hearing.  In our local real estate news Kalepa Village phase 4 opened which low income housing is owned by the county of Kauai.  These are 3 bedroom condos and are filling in a much needed demand for affordable housing.  This is one of the two affordable housing projects on Kauai.

For an island wide list of what came on the market last week and what sold CLICK HERE FOR SPREADSHEET

*****Ko’a Kea AKA Poipu Beach Hotel Re-Opens*****koa-kea2.jpgLast Tuesday the Ko’a Kea opened its doors after being shut down for over 16 years.  Hurricane Iniki wrecked major destruction upon the hotel and it has been one of two hotels that still have not reopened (CoCo Palms being the other).  My first trip to Kauai was in May of 1992 and I don’t remember the hotel too well so my investigative trip over to the resort was all new to me.  The footprint of the hotel is the very same which are 112 rooms ranging from Garden to Ocean View.  It definitely has an old Hawaii feel to it, I loved the outside bar with the over the top ocean views. koa-kea-3.jpg   There was a fun crowd hanging out enjoying the view and drinks when I walked by to see the interior of the lobby which has a 50’s island chic look to it, I really liked how clean and bright it was.  There’s another bar inside the lobby along with a Spa and a new restaurant “Red Salt”.  Rates start at $499 for a Garden View (little pricey???) but they are running a special called “Isle See You In Poipu” and it drops the Garden View room down to $299.

*****Hawaii Foreclosures Up Lending Tightening Up***** The Big Island and Oahu have been hit hard with second homes or rental homeowners walking away from their properties thus causing our foreclosure numbers to go up.  I can first hand report that lending on second homes has become a challenge.  Borrowers now need at least 30% to 40% down, great credit and well documented income.

  *****Ala Moana Files for Bankruptcy*****

Chicago based General Growth Properties Inc. who is the owner of Oahu’s Ala Moana Shopping Center has filed for chapter 11.  They posted $30 billion in assets and $27 billion in debt.  The firm owns additional shopping centers in the islands (none on Kauai) and on the mainland including the Venetian Hotel in Las Vegas.

*****Breaking News From Kauai’s’ Westside!*****

On Kaua’s’ Westside two new much needed faces are on the scene.  Read my special blog posting on Island Taco and Java Hut:     

http://blogs.alohaliving.com/kauai-home-sales/2009/04/

One Response to “Kauai Real Estate and Local News”

  1. Posts about Real Estate Market Reports as of April 20, 2009 | Real Estate Market Reports Says:

    […] -business lending would reap quick results. A Government Accountability Office report released Kauai Real Estate and Local News – blogs.alohaliving.com 04/20/2009 *****Kauai Real Estate News***** A single bidder has won the […]

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