Kauai Real Estate News, Oahu Maui and Big Island Real Estate Update, Scoot Airlines Adds Flights

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

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Price Reduced! Unit #172 has reduced their price to $105,000 (LH). This one bedroom one bath is a top floor corner unit that’s close to the beach. Click on the photo for more details, call me to set up a showing. Lynda Gill (RS) 808-346-0056

Kauai Real Estate Update 

For a complete list of what sold, went into escrow and the new listings that came on the market for last week on the island of Kauai click here; Kauai Real Estate Market Update

My Poipu Beach Real estate page has been updated to include all of the Fee Simple sales, current listings and escrows. To access that information click here; Poipu Beach Real Estate Update

Kiahuna Plantation #172 had a price reduction today bringing this partial ocean view condo down to $105,000 (LH)!!! This is a sweet top floor corner unit located in building 26, this building only has 6 one bedrooms in it making it very private. Close to the beach and right on the price. For a complete list of what has sold, gone into escrow and the current units for sale click here; Kiahuna Plantation Real Estate Update

New Airline To Start Service To Hawaii 2018

Asian low-cost airline “Scoot” will launch a new service to Hawaii on December 19, 2017. The Singapore-based carrier, which is part of the Singapore Airline Group, has already opened reservations for the planned service from Singapore to Honolulu, which includes a stopover in Osaka, Japan.

To celebrate its U.S. market entry, the budget airline is offering roundtrip fares from Singapore to Honolulu as low as S$555, which is about $408. Scoot, which was founded in 2012 and this year merged with competitor Tigerair Singapore, currently has a fleet of 38 aircraft. The budget airline’s network features 60 destinations across 17 countries.

Outrigger To Reposition Kauai Hotel As A Sheraton

It’s a little strange for me to see the companies Outrigger, Marriott and Sheraton all in connection with each other! I’ll attempt to unscramble;  “KSL Capital Partners” had bought Outrigger Hotels and Resorts last year and they have recently added The Marriott Courtyard Kauai property to their portfolio. The Courtyard by Marriott is located in Kapaa near the Coconut Marketplace. Purchase price on the Marriott was over $61.5 million dollars, it had sold during the downturn of the real estate market in 2010 for $38 Million.

The property shuffle make a little more sense if you go to their website to view their current holdings; KSL Capital Partners Holdings

It was announced that the Marriott will undergo a renovation and will be rebranded as a Sheraton, completion date is projected to be early 2019.   The room count will remain the same, the property sits on 10.5 acres of land.

“The Eddie” Is Cancelled

Since the first time this contest was held back in 1984 “The Eddie” has only been held 9 times on the famous shores of Waimea Bay on Oahu’s North Shore. Waves need to be at least 30 feet high and year after year the ocean is carefully watched between December 1 and the last day in February to see if The Eddie will be on. This makes our nightly news every year.

Quicksilver has been working with the Aikau family for over 30 years but contract negotiations broke down and the Australian based company announced that they will not be sponsoring the contest. The Aikau family said they are not certain at this time if the contest will be held or not. This is all too bad because The Eddie is known worldwide and has grown to iconic status.

“The Eddie” is named after Eddie Aikau who was a Big Wave surfer and life saving Waimea Bay Lifeguard. Aikau was 31 years old when he was lost at sea in 1978, in a rescue attempt he left members of a capsized boat that was 12 miles off of Molokai to go search for help. Hence the term “Eddie Would Go” which you might have seen on bumper stickers over here.   The crew were all rescued but Eddie was never seen again despite the largest air-sea manhunt in Hawaiian history.

Oahu, Maui and Big Island Real Estate YTD Real Estate Sales

In Oahu 374 single-family home sales on Oahu last month, which was 13.7% higher than the 329 sales in September 2016. The median price of those homes sold rose to $760,000, which was 1.3% higher than the median price a year ago, which was $750,000.
The median price of a condominium rose 10.9% to $425,000, tying with the all-time record price set in July, from $383,250 in September 2016. Sales of condos rose 2.7% in September to 526 units sold, from 512 units sold during the same month last year.

On Maui the median price of a single-family home for the first nine months of the year was $700,000, a 10.2% increase from $635,000 at the same point last year. The number of sales, meanwhile, rose 2.6% to 826 houses sold, from 805 houses sold from January through September 2016.
The year-to-date median price of a condo was $449,500, a 7.7% increase from $417,250 for the first nine months of 2016. Sales of condos during that time period increased 6.9% to 1,048 units sold, from 980 sold from January through September 2016.

On the Big Island the number of condos sold rose 33.3% to 72 units sold, from 54 units sold in September 2016, but the median price of those condos last month fell 3.4 percent to $302,000, from $312,500 last year.

The median price of a single-family home on the Big Island last month was flat at $330,000, which was just 0.9% higher than the median price in September 2016, which was $327,000. That was based on the sale of 200 single-family homes, which was an 11.7% gain from 179 homes sold in September 2016.

 

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