Kauai Real Estate, Kiahuna Golf Village Home SOLD, Leilani Estates On Big Island

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

Kauai Real Estate Update <img src=”image.gif” alt="kiahunagolfvillage“/>
For a complete list of everything that has sold, went into escrow and the new listings island wide click here: Kauai Real Estate Activity April 30 to May 6, 2018

I just SOLD a gorgeous 3 bedroom 2 bath home located in the Kiahuna Golf Village.  This home is located on the 17thfairway and has beautiful sunset views.  If you missed out on this one give me a call for other options.  For all the information on Fee Simple property in Poipu click here: Poipu Beach Year To Date Real Estate Information.

I brought in the Buyer for an oceanview listing of mine at the Kiahuna Plantation.  Located on the corner of a small 6 unit building the location is tough to beat.  For a current market analysis on this resort click here: Kiahuna Plantation Year To Date Real Estate Information

Big Island of Hawaii Earthquake and Lava Eruption
A magnitude 6.9 earthquake rattled Hawaii’s Big Island Friday shortly after noon, an hour after another temblor with a preliminary magnitude of 5.4 shook the island following the opening of a fourth eruption of lava in Leilani Estates, a residential neighborhood near the Kilauea volcano.  It was the strongest earthquake in Hawaii since a magnitude 7.2 earthquake rocked the Big Island on Nov. 29, 1975.
Hawaii County Civil Defense officials said that a total of 35 structures, most of those homes, have been destroyed by lava flowing from the eruptions from 10 fissures on Kilauea’s east rift zone, while officials with the U.S. Geological Survey’s Hawaiian Volcano Observatory said the dropoff in activity from the eruption is “likely only a pause in activity.”
Although activity from the volcano in the Leilani Estates subdivision, where the first eruption began on Thursday, has subsided, high levels of volcanic gasses, including sulfur dioxide, are still coming from the fissures and the smoke from the burning houses and burning asphalt in the roads “is a health concern and should be avoided,” the Hawaiian Volcano Observatory said in a statement. <img src=”image.gif” alt="kauairealestate“/>
The subdivision remains under a mandatory evacuation order. While county officials are allowing residents to check on their property during daylight hours, they caution that people should be prepared to “evacuate at a moment’s notice.”  Swarms of small earthquakes, most with magnitudes of less than 3.0, continued to shake the area.

Leilani Estates is located in “Lava Zone 1” which is the most dangerous category.  Kauai is the oldest island and does not have any active volcanoes or any “Lava Zone’s”.  The trade winds have been blowing the winds away from the island of Hawaii and the island of Hawaii is 296 miles away from Kauai.

Hawaii Resort Sales At Highest Point Since Crash
Hawaii’s resort real estate market recorded the highest number of closings since 2014 in the fourth quarter of 2017, while sales for all of 2017 grew by 16% to the highest number of sales since the recession.

By island, Kauai had the most resort sales in 2017 at 485, a 23.1% increase from 394 sales in 2016, while the Big Island was second with 467 sales, which was 21% more than 385 sales in 2016. Maui had the third-highest number of sales with 445, a 7.5% increase from 413 in 2016, while Oahu had the fewest resort sales at 149, a 7.2% increase from 139 in 2016.

Developer sales activity statewide declined because of fewer new projects on the market, but the average price of a developer sale rose 10.6% to $2.58 million, from $2.33 million in 2016.
Resale’s dominated the market, rising 20.8% to 1,367 sales in 2017, from 1,131 sales in 2016 and the highest number of sales since 2005, the report said. The average price of those resale’s rose 2.7% to $1.16 million, from $1.13 million in 2016.
The majority of those sales were condos, with 971 closed sales, a 24% increase from 783 sales in 2016 and the highest number of resort condo resale’s in the past six years. The average price of those condos rose 8.2% to $961,948, from $888,774 in 2016.

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

Last week I blogged about Kauai’s Year to Date Real Estate activity as of May 1 compared to last year and this week I have that information for Oahu, Maui and the Big Island.

On Oahu the Median price of a single-family home last month was $790,000, a 10.9% increase from $712,500 in April 2017. That was based on sales of 289 homes in April, which was 3.2% more than the 280 homes sold during the same month last year.
Sales of condominiums increased by 12.6% to 547 units sold in April, compared to 486 units sold in April 2017, while the Median price of $416,000 was only 0.1% more than the median price a year ago, which was $415,500.

On Maui the Median Price for a single family home is up 0.4% from $685,000 in April of 2017 to $688,025 in April of 2018.  The number of homes sold rose 13% from 332 in 2017 to 375 in 2018.
The Median Price for a condominium is up 2.3% from $481,125 in April 2017 to $492,250 in April 2018.  The number of sales also increased.  At the end of April in 2017 459 condos had been sold and at the end of April in 2018 546 had been sold, an increase of 19%.

Sales of condos on the Big Island jumped 28.6% to 90 units sold in April, from 70 sold during the same month last year. The median price of those units was $372,500, an increase of 18.7% from $313,750 in 2017.
The Median price of a single-family home rose 21.3% last month to $409,500, from $337,500 in April 2017. Sales, however, declined to 194 homes sold, an 11% decrease from 218 homes sold in April 2017.

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