Kauai Real Estate, Brady Bunch House Sells, New Housing in Poipu Beach

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

Kauai Real Estate Update <img src=”image.gif” alt="poipuainavideo“/>

For a complete list of everything that sold, went into escrow and the new listing island wide for last week click here: Kauai Real Estate Update

Poipu Beach Real Estate- To get an update on all of the fee simple real estate activity in Poipu Beach since Janaury 1 of this year click here:  Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate- My Kiahuna Plantation page has been updated, to find out the latest news click here: Kiahuna Plantation Real Estate Current Market Analysis

New Workforce Housing Development In Poipu Beach, Kauai

<img src=”image.gif” alt="poipubeachlowcosthousing“/>If you’ve been driving down Poipu Road recently you might have noticed a massive area under going construction.  I attended a neighborhood meeting on this in 2017 but had not seen anything since. “Koa‘e Makana” will be comprised of a mix of “workforce” rentals that are one, two and three bedroom units, totaling 134.  The prices quoted in 2017 were $950 to $1,050 range but that was subject to change.

Here’s how it works: everyone can lottery into it as it’s only restricted by income.  They will need pay stub verification. The main criteria is the income which is not to exceed 60% of Kauai’s area median income. Retirement, Social Security, all of that is considered income.  Preference is given to the employees working in the project area which is considered to be all of Poipu, next they will be open up to employees in the county of Kauai.  There is a no pet rule.

The 2 year timeline to complete the project is aggressive but the benefit is the combined total of $4.1 million of low-income housing tax credits.  If they don’t perform those credits go away.

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

Photo is courtesy of Douglas Elliman via Zillow.

Brady Bunch Home Sold To HGTV 

I was a big Brady Bunch fan and watched every episode back in the 1960’s and 1970’s.  Even today when I see an episode on TV I can’t resist watching.  So when the home came up for sale it caught my attention!

This home was not on the market for long and even before it was listed the agents representing the Sellers had a vetting process in place before they released the news that the home was for sale due to the notoriety of the home.  The “Brady Bunch” house is the second most photographed home, the first is the White House.  This 3 bed 3 bath home was listed at $1.9 million, many of the ’70’s decor was kept in place, including wooden panels, wall-to-wall carpet, and a brown stone fireplace.  The last time this home sold was in 1972 for $61,000.

Those that tried to buy but lost out were Discovery CEO David Zaslay and singer Lance Bass but the winning bid went to HGTV who have plans to renovate it for an upcoming show.  It was reported that they wanted the home “at any cost” and they plan to restore it to its former 1970’s glory.  I lived the 1970’s and not sure how “glorious” the decor was but it sure will be fun to see what they do.

Oahu, Maui and Big Island Year To Date Real Estate Update

Last week I posted the Year To Date Real Estate activity for the island of Kauai and this week I have the figures for Oahu, Maui and the Big Island.

On Oahu there were 330 single-family homes sold in July, a decrease of 1.5% from the 335 homes that sold in July 2017. The median price of a single-family home in July was $789,500, an increase of 5.3% from $750,000.
The median price of a condominium on Oahu in July was $429,500, an increase of 1.1% from $425,000 in July 2017. The number of condos sold in July increased 5.7% to 502 units sold, from 475 units sold during the same month last year.

The median price of a condominium on Maui in July was $513,163, which was an increase of 16.6% from $440,000 in the same month last year. That was based on sales of 136 units, which was 34.7% more than the 101 units that sold in July 2017.
The median price of a single-family home in July was $769,000, which was 9.7% more than the median price during the same month last year, which was $701,000. That was based on the sales of 113 single-family homes, which was a 22.8% increase from 92 homes sold in July 2017.

Home sales on Hawaii’s Big Island dropped by double digits in July, as the latest eruption of Kilauea volcano entered its third month.  Sales of single-family homes dropped 14.61% last month to 187 homes sold, from 219 sold in July 2017. The median price of those homes was $320,000, which was a decrease of 1.54% from $325,000 in July 2017.
Condominium sales dropped 39.74% to 47 units sold in July, from 78 during the same month last year. The median price of a Big Island condo in July was flat at $292,200, compared to $292,000 last year.

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