Kauai Real Estate Update, Hawaii Condo Lending Gets Easier, Kauai Year To Date Real Estate Update

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

Kauai Real Estate

For a complete list of the Just Listed, Sold and the properties that went into Escrow for the past week on the island of Kauai click here: Kauai Real Estate Update May 27 to June 2, 2019

Poipu Beach Real Estate Update- To get completely updated on the fee simple Poipu Beach market click here: Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate Update- SOLD!  Kiahuna Plantation unit #115.  I brought in the buyer for this listing of mine at the Kiahuna Plantation. This ground floor corner unit had a gorgeous remodel and is located in building 18.  Sold Price: $160,000 (LH).
I Just Listed Kiahuna Plantation unit #52. This unit was originally owned by a luxury contractor and the remodel that he did on it is over the top.  This unit rents out like crazy and it has a significant amount of bookings to pass along to the new owner.  For more information on this beauty contact me at 808-346-0056.  For all the news on Kiahuna click here: Kiahuna Plantation Current Market Analysis

Lynda Gill Makes Top 100 Realtors List-Neighbor Islands <img src=”image.gif” alt="kauairealestate“/>
Hawaii Business Magazine published their annual list of Top 100 agents for 2018 and I was among the recipients.  I also consider it a win that out of the Top 100 three of us are RE/MAX agents from the South Shore office!
It’s a huge honor and my clients, fellow agents and my husband made it all possible.  So thank you!
To read the full page ad that is in the June Hawaii Business Magazine click here: Lynda Gill-Top 100 Hawaii Business Magazine

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Poipu Beach Affordable Work Housing Accepting Applications
Koa’e Makana is a complex that is being built across from the entrance to Koloa Estates for affordable housing.  The County of Kauai made the building of this development the responsibility of Kukui’ula in an effort to balance out their high end building.  A park is suppose to go in across the street as well but I have not seen construction on that yet.
Koa‘e Makana will be 133 units, one resident manager unit. There are 23 buildings that are two stories high.  The buildings and vegetation front Poipu Road to make it more astatically pleasing. This project will serve households with incomes at or below 30 percent, 50 percent, and 60 percent of the median income limits established by the U.S. Department of Housing and Urban Development.
The first units will be ready in September and applicants are encouraged to apply now.  There is a strict “no pets” policy.  Preference will be given to applicants in this order:

  1. Employees of businesses within the Koloa tax zone;
  2. Residents of Kauai;
  3. Residents of the state of Hawaii.
    To apply go to: www.mdihawaii.com/koaemakana.

Hawaii Condominium Lending Gets Easier
Did you know….Hawaii has the highest share of condominium mortgages in the U.S.?  Our average is 42% compared to the National average of 8%!
So it was great news when Fannie Mae and Freddie Mac made a key change in their “owner occupancy” rule. For a condominium complex to qualify for the more favorable rates and terms of a Fannie or Freddie loan the complex had to have at least 51% owner occupants.  Immediately this threw out all of the vacation rental complexes, as these are largely second homes for mainland owners.
But now if you are putting 25% down the 51% owner occupant rule will not apply.

Kauai Real Estate 2018 Compared to 2019
We can now compare the first 5 months of 2019 to 2018.  Homes Sales and the Median Price are both down island wide.  Condo sales are down except for the Poipu, our number of sales are up and the price of our condos are up as well by 87.66%!  I contribute this largely to the Kiahuna Plantation leasehold condo prices rising and the Pili Mai condo prices that increase with every building that is built.  Land sales and prices are pretty much up as well.

A graph is below and call me to find out how this relates to your personal area of interest 808-346-0056

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