Kauai Real Estate, Oahu-Maui-Big Island Real Estate Review

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

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One of a kind home in Poipu Beach! Listed for the price of some condominiums in the surrounding area this 1 bedroom vacation rental home includes amenities such as: Spacious Waterfront Spa and Pool, Cabana Bar with TV and Half bathroom, Covered Lanai Deck off the livingroom and bedroom, Outdoor Shower and more. List Price: $1,865,500 (FS) Click on this photo for more information and call me for a private showing.

Kauai Real Estate 
To access all of the properties on Kauai that are newly listed, went into escrow or sold for last week click here: Kauai Real Estate January 1 to 7, 2018

Last week an agent at our RE/MAX Kauai Living Office previewed her new listing before it came on the market.  I was excited to see it as this is a most unique property. It’s been many years since a vacation rental home has come up in the “Baby Beach” neighborhood here in Poipu. Imagine having your own 1 bedroom home, with a pool, outside bar and private access to the beach! This home is located right next to Whalers Cove and is a real treat to see.  The list price for this home competes with surrounding condominiums in this area.  Call me for more information on this property.
For a current market analysis of the Poipu Beach fee simple real estate click here: Poipu Beach Fee Simple Current Market Analysis.

For information on the Kiahuna Plantation real estate market click here: Kiahuna Plantation Current Market Analysis

Hawaiian Airlines Adds New California To Hawaii Route

Hawaiian Airlines said Monday it will launch a new daily route between Long Beach and Honolulu this summer!  The nonstop Southern California route will begin June 1 and be operated by Hawaiian’s new Airbus A321neo aircraft.
“Long Beach is a perfect gateway for travelers in Los Angeles and Orange County to ease into their Hawaiian vacation,” Peter Ingram, Hawaiian’s executive vice president and chief commercial officer, said in a statement. “We look forward to welcoming our guests onboard, where they will enjoy our award-winning Hawaiian hospitality in the comfort of our newest aircraft.”

Oahu, Maui and Big Island 2017 Real Estate Market Review

Last week I did an analysis of the Kauai Year End real estate numbers compared to 2016. This week I have the same information for Oahu, Maui and the Big Island

Home sales on Oahu increased by more than 6% in 2017, while prices gained 3%, pushing the median price of a single-family home to $755,000 and a condominium over $405,000.
There were a total of 3,908 homes sold on Oahu last year, which was 6.3% more than in 2016. The median price of $755,000 was 2.7% higher than in 2016, when it was $735,000.
The median price of a condominium was 3.8% higher than in 2016, when it was $390,000, while the 5,824 sales represented a 6.9% increase from the 5,449 sales in 2016.

On Maui the number of homes that sold in 2016 were 1,076 and in 2017 the number is up 2.1% to 1,099. At the end of the year the Median Price is $695,000 compared to 2016 which was $639,000, an increase of 8.8%.
The condominium market fared even better with 1,451 closed transactions compared to 1,310 last year, an increase of 10.8%. The Median Price went up as well from $415,000 from last year to $445,000 for this year, an increase of 7.2%.
The outlook for Maui real estate in 2018 is that the housing demand remains incredibly strong and that there should be more listing activity by more confident Sellers.

Condominium sales on Hawaii’s Big Island rose 20% in 2017, compared to the year before, while sales of single-family homes there last year rose 8% and both categories saw modest price gains.

The 853 condo units sold on the Big Island in 2017 was 19.97% more than the 711 units that sold in 2016. The median price of a Big Island condo in 2017 was $310,000, which was an increase of 1.64% from $305,000 in 2016.
Single-family home sales on the Big Island saw higher price gains in 2017 with a median price of $350,000, an increase of 6.06% from $330,000 in 2016. There were a total of 2,492 single-family homes sold in 2017, an increase of 8% from 2,307 homes sold in 2016.

The New Tax Bill And What It Means To Homeowners

Real Estate professionals, like everyone else, have been following the new tax laws. The National Association of Realtors (NAR) has worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment. Many of the changes reflected in the final bill were the result of the engagement of NAR and its members, not only in the last three months, but over several years.

This information is from the National Association of Realtors website and here are some of the highlights:

Exclusion of Gain on Sale of a Principal Residence

  • The final bill retains current law. A significant victory in the final bill that NAR achieved.
  • The Senate-passed bill would have changed the amount of time a homeowner must live in their home to qualify for the capital gains exclusion from 2 out of the past 5 years to 5 out of the past 8 years. The House bill would have made this same change as well as phased out the exclusion for taxpayers with incomes above $250,000 single/$500,000 married.

Mortgage Interest Deduction

  • The final bill reduces the limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/17. Current loans of up to $1 million are grandfathered and are not subject to the new $750,000 cap. Neither limit is indexed for inflation.
  • Homeowners may refinance mortgage debts existing on 12/14/17 up to $1 million and still deduct the interest, so long as the new loan does not exceed the amount of the mortgage being refinanced.
  • The final bill repeals the deduction for interest paid on home equity debt through 12/31/25. Interest is still deductible on home equity loans (or second mortgages) if the proceeds are used to substantially improve the residence.
  • Interest remains deductible on second homes, but subject to the $1 million / $750,000 limits.
  • The House-passed bill would have capped the mortgage interest limit at $500,000 and eliminated the deduction for second homes.

Deduction for State and Local Taxes

  • The final bill allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes. This $10,000 limit applies for both single and married filers and is not indexed for inflation.
  • The final bill also specifically precludes the deduction of 2018 state and local income taxes prepaid in 2017.
  • When House and Senate bills were first introduced, the deduction for state and local taxes would have been completely eliminated. The House and Senate passed bills would have allowed property taxes to be deducted up to $10,000. The final bill, while less beneficial than current law, represents a significant improvement over the original proposals.

Mortgage Credit Certificates (MCCs)

  • The final bill retains current law.
  • The House-passed legislation would have repealed MCCs.

Moving Expenses

  • The final bill repeals moving expense deduction and exclusion, except for members of the Armed Forces.
  • The House-introduced bill would have eliminated the moving expense deduction for all filers, including military.

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