Kauai Real Estate, Kiahuna Golf Village Home In Escrow, Hawaiian & United Bringing Back Flights

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

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Offer Accepted.  List price $995,000 (FS), Back Up Offers will be considered. Take a virtual walk through by clicking on the photo.

Kauai Real Estate Update
For a complete list of everything that has Sold, was Just Listed or went into Escrow for last week on the island of Kauai click here: Kauai Real Estate Update June 29 to July 5, 2020

Poipu Beach Real Estate Update- Last week I got an accepted offer on Makanui #311 which is a unique property in the respect that this “condo” at the Makanui is actually a 3/2 detached home with a two car garage for under $1 million.
I also got into escrow one of the best deals in Poipu Beach and that is a listing of mine in Kiahuna Golf Village and I received a backup offer on it as well!  This 4 bedroom 3 bath home is in a cul-de-sac and is right on the golf course with horizon ocean views.  The floor plan is perfect to have a separate living area, if you are looking for a large home it works very well for that too.  This home is listed at $1,495,000 which is (was) currently the lowest priced home in a lovely Poipu Beach neighborhood.
For a complete list of what has been happening in the fee simple real estate market in Poipu since January 1 of this year click here: Poipu Beach Fee Simple Current Market Analysis.

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Just Listed! Kiahuna Plantation unit #117 is located in building 18 and has a sweet view of a spacious lawn area and a bonus slice of an ocean view. Click on the photo for more details. List Price $89,000 (LH).

Kiahuna Plantation Real Estate Update- I just listed Kiahuna Plantation unit #117 which is located in building 18.  This unit has gorgeous sweeping lawn views along with a peek of the ocean, super short walk to the Beach that the Kiahuna is on and the Poipu Beach Athletic Club.  Currently the lowest priced unit at $89,000 (LH).  Contact me for details.
For all the latest real estate information at this resort click here: Kiahuna Plantation Current Market Analysis

What Is Happening In Kauai Real Estate?? 

The short answer is our market is starting to thaw out.  I have noticed a lot more activity on our Multiple Listing Service and I checked in with a couple of title companies.  For confidentiality reasons they are not allowed to give actual numbers of their new escrows for the month of June, what they did confirm is that the activity for June is easily double what it was for May.  I believe this will continue to be the case, especially now that tourists are able to come to Hawaii starting August 1 without the 14-day quarantine (provided they provide a negative COVID 19 test results).
Prices for vacation rentals homes and condominiums are softening a bit but I can see that turning around when the rental income starts to kick back in.

United Airlines Adding Back Routes
Globally United is adding back almost 25,000 flights in August, the number of flights for next month will be triple the number they had in June.  United said their demand is showing steady recovery and they are carefully adding back enough flights to stay just ahead of the demand.  In June TSA numbers were 25% higher than March 19, 2020.
United has a long history with providing service to Hawaii and on their list of flights to reinstate are: Lihue, Maui, Kona, Honolulu, Traverse City, Michigan and Monterey, California.  Flights will also Denver flights to Calgary and Vancouver, Canada and Cancun, Mexico.

Hawaiian Airlines Adding Back Routes
Hawaiian also announced that they will resume a more reduced service starting August 1.  The flights specifically listed were: Los Angeles and Oakland to Lihue.  For Honolulu and six U.S. cities — Boston, New York, Las Vegas, Phoenix, San Jose and Oakland.  For Maui Los Angeles, Oakland, San Francisco, San Jose and Sacramento to Kahului.  The Big Island will have the Los Angeles to Kona flight reinstated.
Hawaiian stated that their timing and expansion will align with the state reopening travel.  In August they will have 252 fights per day between Hawaii and the Mainland and 114 interisland flights.

Kauai Real Estate Year To Date, 2019 vs 2020
With the end of June we’ll see a clearer picture of what the Pandemic shut down did to our real estate.  Below is Year to Date numbers compared to this same time last year, the results are interesting.

The number of properties sold are, understandably, categorically down.  In looking at the sold numbers for the entire island the number of sales were down for every-single-area except for condominiums in Lihue!  That one little pocket is up almost 17%.  This area has the most residential condominiums on the island which I believe to be the contributing factor.

Prices for Land are down across the board as are condominiums with the exception of a small Median Price bump on the North Shore.  The prices for homes are up and not just slightly either.  I did look up the price adjustments for the month of June and saw that there were 33 homes that did a price adjustment; 27 dropped their price while 6 properties increased.  The Median Price shows an uptick and the market is showing that if a Seller makes a price adjustment it will likely be a price drop.  Even with the price drops the Home prices continue to climb.

Call me if you have any questions on how this graph, which is general in nature, pertains to your particular area of interest.
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