Kauai Real Estate, Governor Extends Quarantine, Oahu-Maui-Big Island YTD Real Estate

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

Kauai Real Estate Update- For a complete update on all the real estate activity for last week on the island of Kauai click here: Kauai Real Estate July 6 to 12, 2020

<img src=”image.gif” alt="pilimai“/>Poipu Beach Real Estate- The Pili Mai trailer has been removed and the entire project is sold out.  It seems really strange to drive by now with nothing there, I don’t know how many trips I took in that golf cart they had with clients looking at condos and, in some cases, mounds of dirt.  For all the news on Poipu Beach fee simple real estate since the beginning of this year click here: Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate- For a complete market update on the Kiahuna Plantation click here: Kiahuna Plantation Current Market Analysis

Governor Ige Delays Opening Hawaii To Tourism To September 1, 2020
Yesterday Governor Ige announced there will be a delay in Hawaii reopening for trans-pacific travel.  It will now be September 1, 2020.  This was based on four factors:

  • The uptick in cases on the mainland and uncontrolled outbreaks in some of our biggest visitor markets.
  • Since we opened up for interisland travel we’ve had an uptick in cases.
  • Testing supplies for our state have been cut in half due to the surge in cases on the mainland.
  • We anticipate more cases when school starts August 3.

I spent some time on Monday listening to the UHERO meeting in the morning and the Governors talk and his answering of the reporters’ questions in the afternoon.  My takeaway is this: when they announced reopening on June 24th they had factored in the known uptick in Hawaii cases with the reopening of interisland travel, restaurants/businesses and kids going back to school.  What they could not have factored in was the unexpected surge on the mainland and the subsequent interruption of the testing supply chain from the mainland.  The uptick in cases we’ve had here are in keeping with their projections and our system is not getting overwhelmed.

For more detailed information, including the Governors statement and testing information, go to this site: Hawaii Tourism Authority COVID Information

Oahu, Maui & Big Island Real Estate Year To Date
Last week I posted the Kauai Real Estate Sales 2019 compared to this same time 2020.  I now have the data for Oahu, Maui and the Big Island.

On Oahu 1,613 homes have sold Year to Date compared to 1,695 in 2019, representing a slight decline of 4.8%.  The Median Price went up by 1.3% to $785,000 compared to $775,000 this same time last year.
However, condominium sales and the median price were both down.  Year to date 2,014 condos have been sold compared to 2,583 this same time last year representing a 22% decline.  The Median Price is down by 2.5% to $421,500 compared to $432,500 in June 2019.
On Oahu new listings for homes were down 22.9% for the first half of the year and new condominium listings were down 21.5% lower than this same time last year.

On Maui there have been 455 homes sold Year To Date compared to 539 this same time in 2019.  The Median price is 3.4% higher at $765,173 compared to $740,000 in 2019.
The number of condominiums sold on Maui numbered 630 which is a 22.3% drop from 811 in 2019.  The Median prices for condos Year To Date are up 8.7% at $569,500 compared to $524,000 last year.

Big Island had a 5.47% decline in home sales, Year To Date 1,105 homes have sold compared to 1,169 last year.  The Median Price is 4.22% higher at $395,000 compared to $379,000.
Condominiums however did not fare as well with a 33.7% decline at 303 units compared to 457 a year ago.  Prices are down to $365,000, which was 2.67% below the median price for the first half of 2019, which was $375,000.

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