Kauai Real Estate, New Flight To Princeville, Monster Homes Pushback

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

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

I Just Listed unit #91 at the Kiahuna Plantation. 1 Bedroom 1 Bath renovated condominium. List price: $160,000 (LH). Click on picture for video tour.

Kauai Real Estate Update 
For a complete list of everything that has Sold, the Just Listed properties and those that went into escrow for last week on the island of Kauai click here: Kauai Listing Update April 15 to 21, 2019

Poipu Beach Real Estate Update- to get up to date on the fee simple Poipu Beach real estate market click here: Poipu Beach Current Market Analysis

Kiahuna Plantation Real Estate Update- In Escrow!  I just listed unit #115 at the Kiahuna Plantation and in 1 week I had two offers and we are now Under Contract with this lovely unit.  I also just listed #91 which is an updated 1 bedroom 1 bath with great airflow in building 16.  To get up to date on all things Kiahuna click here: Kiahuna Plantation Real Estate Current Market Analysis.

Feds Spark Economic Reacceleration
Back in September of 2018 I noticed an slow down in real estate that was typical for the time of year, however it didn’t ramp up when it should have.  That was due to the Fed’s last October and November suggesting three rate hikes for 2019.  This in turn caused angst and fear that economic conditions would slow to a recession. It also led to a sharp decline in stocks and consumer confidence.

However the Feds reversed their opinion in January 2019 and said there will be no rate hike anytime soon.

Following that it’s been noticeably different since February for real estate sales on Kauai and it’s still trending upward.  Couple that with the economic data coming out of the US this week which showed that not only is a recession highly unlikely anytime soon, but the economy is actually reaccelerating from the slowdown seen last fall.  It has also sparked confidence and certainty in the business climate, thereby giving corporations reason to hire and retain employees and this fact is evidenced by the decline in Initial Unemployment Claims and the rate at which people are being fired from their jobs.

Bottom line: the economic resurgence has put upward pressure on rates this past week, but they remain near 12-month lows.
Looking ahead: corporate earnings will continue to dominate the headlines, and what companies say about the future could have an effect on the financial markets.

Big Changes To Access Haena Park Starting In June
The horrific storms that devastated Hanalei in April of 2018 have brought big changes in the way that Haena State Park will now be accessed.  After much thought, planning and public input the County has put together a shuttle service for visitors and residents, the on-line shuttle reservations are going to start being accepted mid May for the new shuttle service that is to start in June.

If you remember you used to be able to drive to the very end of the road and park almost anywhere to access the Kalalau Trail or Haena Beach Park.  That is no longer to be.  There are 100 stalls and a reservation process to get one, also if you bypass that and park on the side of the road there is a $200 dollar fine. At all times absolutely no overnight parking.  If you want to bypass all of this you can use the shuttle.  Entry to the park will now require a day reservation which is included with your shuttle reservation.  For more information visit:  https://www.hanaleiinitiative.org/the-shuttle

New Flight From Honolulu To Princeville
Makani Kai Air will start flying from Honolulu to Princeville starting on May 1. Did you know….this is actually not a new flight? But it has been a long while since it was in service, Island Air ceased operating the flight in 1997.
Makani Air will use a twin-engine Piper Chieftain which can accommodate up to 9 passengers and the flight will take 48 minutes. Currently this airline has flights from Maui to Molokai.

No More Mega Mansions In Honolulu
The residents in Honolulu have been pushing back hard on what they call “Monster Homes” springing up in their community. Older homes are being bulldozed and massive sized homes are being built in their place, but that will not be happening any longer.
The Honolulu City Council has passed a bill aimed at curbing the number of so-called “monster homes” that have sprouted up around Oahu by restricting the floor-area ratio of residential dwellings to 0.7, or 70% of a lot’s size.   Kauai is at 5o% lot coverage.

Bill 79, which passed a final vote Wednesday on a 9-0 vote, also requires homes with a FAR greater than 60% lot coverage to be owner occupied and must have setbacks on the side and rear yards of at least eight feet.

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