Kauai Real Estate, Southwest Airlines and Hawaii, Kiahuna Plantation SOLD

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

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

SOLD! Kiahuna Plantation unit #54 a one bedroom one bath top floor Royal Garden View unit. List Price: $95,000 (LH) Sold Price: $90,000 (LH).

Kauai Real Estate Update 

For a list of all the properties on Kauai that sold, new pending sales or new listings click here: Kauai Real Estate Update April 23 to April 30, 2018

Poipu Beach Real Estate Update: For a list of the active listings, those properties in escrow and what has sold since January 1 of this year click here: Poipu Beach Fee Simple Market Analysis

SOLD!  Kiahuna Plantation unit #54!  This 1 bedroom 1 bath has a sweeping view of the lawn and the twin bridges.  Super short walk to the beach that the Kiahuna is on!  To find out what is currently for sale, what is in escrow and what has sold since January 1 of this year click here: Kiahuna Plantation Current Market Analysis

Visitor Spending Up
Statewide, visitor spending increased 10.1% during the first quarter to $4.82 billion, outpacing arrival growth, which rose 9.4% to 2,478,604 visitors compared to the same period last year.

A 51.7% increase in air service to Lihue during the first quarter helped boost visitor arrivals on Kauai, which increased 14.3% to 338,572. Spending on the Island increased 15.7% to $177.3 million in March, and rose 5.9% to $526.5 million during the first quarter.

Visitors spent $772 million on the Big Island during the first three months of the year, while arrivals increased 12.8% to 495,558. In March, visitor spending rose 27.2% to $258.5 million, while arrivals increased 15.7% to 175,733.  These gains were supported by a 30.2% increase in air seat capacity to Kona and a 57.9 percent increase in seat capacity to Hilo during the first quarter.

On Maui, first quarter visitor spending increased 12.7% to $1.46 billion while arrivals increased 7.2% to 708,003. Last month, spending increased 13.2% to $479.7 million, boosted by an 8.6% increase in visitors to 259,868.

Oahu visitor spending increased 8.1% during the first quarter to $2.01 billion, while arrivals increased 7.3% to 1,428,392 compared to the year ago period. In March, visitor spending rose 8.4% to $676.8 million, and arrivals increased 9.8% to 510,958.

Southwest Airlines Now To Service Four Hawaii Airports
Southwest Airlines on Thursday said it plans to service four Hawaii airports once it receives the necessary approval for trans-Pacific flights.  The airline further stated that they expect to begin to sell tickets to Hawaii in 2018 but the timing of that is not yet known.

The airline also announced it’s considering interisland service but that is “down on their priority list”.  I for one am not so sure about that.  Southwest excels at the short airline hopper flights and I believe this will come faster than they lead us to believe.  Considering their speed at getting gates at all four islands, instead of sticking to their original plan of only going to Honolulu, I’d say it’s becoming more and more of an immediate possibility.

Will Kauai Get FEMA Money?
A presidential disaster or emergency declaration request is slated to be ready for the governor to submit to Washington in just over a week but whether the bar will be met for FEMA money is far from guaranteed. It’s also complicated by some high-dollar damage, on Kauai in particular, that won’t be able to be counted toward the federal threshold.

Damage assessment teams are going street by street, house by house on Kauai to take note of what was lost.  But to count for the federal threshold, those have to be people’s primary homes, and a lot of the worst damaged, highest value structures are second homes and vacation rentals.

If and when federal help comes, it will likely be for two kinds of programs: assistance to repair and replace public infrastructure such as roads, bridges, utility lines that get damaged or an individual assistance program which help homeowners and renters with rental assistance and some home repair. FEMA’s individual assistance payouts are limited at $34,000 per household, most of the assistance and recovery that will be helpful is either from insurance companies or the low-interest loans.”

Other sources of money

$100 million from state legislature
$5 million from Kauai County $14 million emergency fund
Federal Highway funds 80% federal, 20% state split
Specific agency programs, such as agriculture relief
Private insurance and flood insurance

Damages and costs so far

Weke Road 2.2 million
Kahiliholo Road 1.1 million
Wainiha Powerhouse Road, unknown
Other various streets $20,000-$30,000 each

What’s still being tracked down for the damage report

Public infrastructure
Other roads and highway
Solid waste gathering and removal
Evacuations of residents and tourists
Air and sea resources
Fuel and utilities

Kauai Real Estate Year To Date

Below is a graph showing where we are at with real estate sales today compared to this same time last year.  Call me to find out how your property fits in with this graph.<img src=”image.gif” alt="kauaigealestateinformation“/>

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