Kauai Real Estate, Illegal Vacation Rental Reporting, Kauai 2019 Real Estate Recap

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

Kauai Real Estate Update

To see all the properties that were Just Listed, Sold and what went into escrow for last week click here: Kauai Real Estate Sales December 30 to January 5, 2020

Poipu Beach Real Estate Update- I just listed a 3 Bed. 3 Bath single level home in the Kiahuna Golf Village that is located within a cul-de-sac and has horizon ocean, fairway and sunset views.  It also has a very spacious backyard with a pool and Jacuzzi.  Priced right at $1,975,000.  For a complete list of the fee simple properties in Poipu that is active, in escrow and has sold since January 1 of this year click here: Poipu Beach Real Estate Update

Kiahuna Plantation Real Estate Update- How did Kiahuna Plantation do in sales for 2019 compared to 2018?  I’ve got a breakdown on that and a complete list of everything that is available for sale, is in escrow and has sold since January 1, 2020 click here: Kiahuna Plantation Real Estate Update

Drones To Investigate Kauai Helicopter Crash
The tour helicopter crash that occurred on December 26th, killing all 7 people on board, is being investigated by drones.  The helicopter, operated by a well known local popular company crashed into the side of the Napali Coast and fell 100 feet before bursting into flames.  The location is known as “Nu‘alolo Kai” which is virtually impossible to access by foot.  The National Transportation Safety Board is on island examining the drone photos.  The helicopter itself is to be airlifted out to an undisclosed location so it too can be investigated.
The pilot was 69 years old and had 40 years of flying experience, 12 of those with the helicopter company.  It’s not known at this time what happened but it’s suspected that the pilot experienced zero visibility due to sudden in climate weather, this has been known to happen on the Napali Coast.
A family of 4 from Switzerland and 2 people from Wisconsin were also on board.  All of the bodies have been recovered.

Citizens Able To Report An Illegal Vacation Rental
This is happening on Oahu but if it goes well I’m sure we’ll see the same here on Kauai.  Effective last week if residents’ suspect that their neighbor is illegally vacation renting out their property they can now confidentially report them.

Bill 89 was singed into law in June of 2019 which gives the county stricter law enforcement for illegal vacation rentals and allowed Oahu citizens the ability to report their neighbor’s illegal rental.  So they started reporting and in just that half a year 242 reports have been made.  Compare that to only 39 in 2018.  But a neighbor turning in their neighbor can turn them against each other making it not worth it to report them, just continue to put up with the noise.  Now there is a confidential online complaint form for the public to request an investigation into a suspected illegal rental or advertisement for such properties.   The Department of Planning has to respond within 30 days to the complaint.

2019 Versus 2018 Year End Real Estate Sales
How did Kauai do for the year 2019?  Island wide the number of sales are down and that has to do with three things:

1) The softening of the higher end market.  In 2019 Kauai highest priced residential sale topped out at $6.5 million.  In 2018 there were 14 sales over $6.5 with one of those sales at $46 million and change.

 2) last years devastating rains on the north shore which is still impacting their sales.

3)  Lack of inventory in lower price ranges for Homes and Condominiums

The Median Price for homes almost categorically down and that has to do with the high-end market being so soft.  In the homes up to $800K market it’s strong and very competitive.
The Median Price for condominiums is up as are land sales.  A contributor for land sales has been Kukui’ula which is in Poipu Beach.  In 2018 they had 42 sales, 12 were residential and 30 were land sales.
In 2019 astonishingly they had 50 sales with 12 being residential and 37 being land sales.

Below is a graph which shows overall numbers.  To find out how this relates to your property, or your area of interest here on Kauai, give me a call at 808-346-0056.
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