Kauai Real Estate, Spouting Horn Renovation, Property Tax Payment Extension

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

The old Cost-U-Less is not a 7 individual commercial units with deeded parking stalls. Click on the photo for details.

Kauai Real Estate Update- If you look at the New Listings for last week you’ll see 10 new Commercial listings called “Oceanside Center”.  This is the old Cost-U-Less in Kapaa which has been converted into Commercial spaces with about 7 deeded parking spaces each.  Before Costco that was the place to go to buy in bulk.  To access properties that were Just Listed, Sold and went in Escrow for last week on Kauai click here: Kauai Real Estate July 13 to 20, 2020

Poipu Beach Real Estate Update- I have updated my Poipu Beach fee simple page for you to get updated on all the Fee Simple properties in Poipu that are Active, Under Contract and have Sold since January 1, 2020.  Click here: Poipu Beach Current Market Analysis

Kiahuna Plantation- Kiahuna Plantation #80…Sold!  I represented the Buyer on a listing of mine at the Kiahuna Plantation.  The owners of Unit #80 put their hearts into this unit and it shows in the thoughtful upgrades that were done.  If you are looking to own here in this complex I’d be happy to help you find your perfect home.  For a complete list of all the Kiahuna Plantation activity since Jan. 1 click here: Kiahuna Plantation Current Market Analysis

Mortgage Rates Break 3% Threshold
The mortgage rate fell to 2.98% this week which broke the 3% threshold for the first time.  Fueling this has been Investor concerns about COVID-19 and the Federal Reserve purchasing $4.5 billion a day of securities backed by Fannie Mae, Freddie Mac and Ginnie Mae home loans.
But how does this news translate to the vacation rental market here on Kauai?  I asked my go to loan officer for her elevator talk on mortgage rates.
*The low rates published are for the primary homeowner.
*As you add on other conditions such as; second home, investor property, condotel, condominium etc. the rate will go higher.
*That rate can be lowered by paying points in some cases
*Most importantly the rate cannot be locked in until you have a sales contract and you have provided documentation to be preapproved.

If your property on Kauai is not your primary residence the rate will probably be higher but with the rates starting around 3% that’s still good news.  If you want a low rate get in front of that by working with a loan officer to get your file started, find out what you qualify for and what type of loan program you’d be looking at.  If you wait to prequalify that great rate could be gone while your loan officer is setting up your file.

Kauai Property Tax Due Date Extended To November 18, 2020
The Kauai Real Property Department of Taxation is giving Kauai property owners a breather on their property taxes.  They are due on August 20, 2020 but due to the Pandemic the County will waive their penalty and interest if you file on, or before, November 18, 2020.
You can submit payments online by going to https://kauairpt.ehawaii.gov or by sending a check payable to the Director of Finance.  For more information, please visit www.kauaipropertytax.com or contact real property collections at 241-4272 or by email at rpc@kauai.gov.

Spouting Horn Renovation Update
Last year the County approved $500,000 to renovate the Spouting Horn area including the vendor booths.  A large pavilion is currently being worked on, looks like a great area for lunch.  All of the booths have been removed and new ones will be constructed.  New sidewalks have been put in.  This project is supposed to take 6 months but I did hear that they are on track to be done sooner.  It’s been under renovation for about 2 months as of this posting.

I’m not sure about the fate of the phone booth?!  Are they still putting those in?

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