Kauai Real Estate Update, Feds Cut Interest Rate, Hawaii Hotel Occupancy and Rates Up

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

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SOLD In 5 Days! I was able to secure a full priced offer for my Sellers and we closed on this sweet home in Poipu Beach. For the complete listing information click on the photo.

Kauai Real Estate
For a list of the properties that Sold, were Just Listed and those that went into Escrow for last week on the island click here: Kauai Island Real Estate Update September 16 to 23, 2019

Poipu Beach Real Estate- A listing of mine SOLD with only 5 days on the market!  1988 Pahoehoe Street is in the Weliweli track in Poipu Beach and this home had a great location in this subdivision.  Huge corner lot right next to the park.  This home needed a lot of TLC but the property made it all worth it.
This week I also put into escrow Nihi Kai #502.  This is not my listing but I was so impressed with it that I did a video and showed it to several buyers.  This last week I worked with a couple that flew over just to see condos with me and they bought this one!!!  I’m super happy because this unit is a winner.  Check out the video that I did which helped my buyers when they were on the mainland to make a decision to fly over here.
For a complete update on real estate in Poipu Beach click here: Poipu Beach Current Market Analysis

Kiahuna Plantation Real Estate- For the latest news on the Kiahuna Plantation real estate market click here: Kiahuna Plantation Current Market Analysis 

Feds Cut Interest Rate By Quarter Point
The Federal Reserve cut interest rates by a quarter of a percentage point Wednesday, its second move since late July, as it tries to insulate the economy against rising political risks and the fallout from a global slowdown.

While the median Fed official expects rates to stay at the current level through the end of the year, 7 of 17 expect another rate cut — compared with zero when the central bank last released economic projections, in June. That suggests that momentum is shifting toward additional accommodation.

Abandoned Kauai Cars In The Crosshairs
We’ve all had this happen….your enjoying the scenery as you drive around Kauai and then….bam!  A trashed abandoned car on the roadside, and it’s there when you drive by again.  Yuck.

There might be some relief in sight.  New legislation was introduced by Kauai’s Mayor Kawakami.  Here is how it works: when a person goes to register their new vehicle it’ll pop up that they owe for another vehicle(s) that they have abandoned.  Unless that debt is settled that person won’t be able to register their new car.
Right now the Kauai Police Department sends a letter to the last registered owner of an abandoned or derelict vehicle, but there is no enforcement when it comes to collecting outstanding fees.  Crazy right?  Especially when you factor in the Kauai tax payers pay more than $400K annually to clean this up.

Hawaii August Hotel Occupancy and Rates Up
The number of guests staying at hotels across the state increased in the month of August compared the same period last year according to data released Wednesday by the Hawaii Tourism Authority.

Occupancy was up 5.5% to more than 84%. RevPAR (Revenue Per Available Unit) grew by nearly 11% to $244 and ADR was up 3.4% to $290.

Year To Date gains are down compared to last year but that is due to Hurricane Lane which directly impacted Maui and the Big Island.

In August, among the four counties all saw growth in occupancy, ADR and RevPAR year-over-year. Hawaii Island experienced the most significant gains and this was due in part to the fact that figures were down in August 2018 following the volcanic eruption.

Kauai had a nearly 2% growth in occupancy to 74%, its ADR dropped slightly, and RevPAR remained flat.  I would think that Southwest rolling out to all the other islands except for Kauai is showing up in these numbers which are not bad on their own.  Southwest will be flying to Kauai starting January 19, 2020.

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