Kauai Real Estate Update, Oahu-Maui-Big Island Real Estate Year To Date

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

Kauai Real Estate 
For a complete list of everything that has sold, went into escrow and the new listings island wide for last week click here: Kauai Real Estate Update July 2 to 8, 2018

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RE/MAX Kauai Living Poipu Just Listed unit #135 at the Kiahuna Plantation. For details on this upgraded ground floor corner unit click on the photo. For additional information give me a call at 808-346-0056.

Poipu Beach Real Estate: I have updated my Poipu Beach Fee Simple Real Estate page, the big buzz on the south shore is the bulk sale of the Makahuena Estates.  I wrote a separate article on this offering.  To access the fee simple real estate activity since January 1 of this year click here: Poipu Beach Real Estate Current Market Analysis.

Kiahuna Plantation: Our office just listed unit #135, a remodeled ground floor corner unit in building 20. Listing price is $295,000 (LH). For details on this unit, and all things Kiahuna, click here: Kiahuna Plantation Current Market Analysis

Oahu, Maui and Big Island Year To Date Real Estate Update
With the first six months of real estate sales behind us I posted where Kauai is at compared to this same time last year in last week’s post.  This week I’ll review where Oahu, Maui and the Big Island are at for the end of the first six months compared to this same time last year.

The median price of a single-family home on Oahu in June dipped from the record price set last year on fewer sales, while condominium sales and prices increased by single digits.  The median price of a single-family house on Oahu last month was $782,388, which was a 1.6% decline from the all-time high of $795,000 set in June 2017. That was based on sales of 365 homes in June, which was a 1.4% decline from 370 homes sold during the same month last year.
The median price of a condo on Oahu in June was $420,000, which was a 5% increase from $400,000 in June 2017. Sales of condos rose 2.1% in June to 547 units sold, from 536 units sold in June 2017.

On Maui the median price of a condo was $515,000, a 19.8% increase from $430,000 in June 2017. The number of condo sales on Maui also increased by 21%, to 150 sales in June, from 124 sales in June 2017.
Year-to-date sales of single-family homes rose 5.1% to 575 homes sold, from 547 homes sold during the first six months of 2018. The median price of a single-family home on Maui during the first half of the year, however, declined by 2.2% to $690,000 from $705,000 during the same period last year.

On the Big Island the median price of a condominium during the first six months of the year was $375,000, a 12.95% increase from $332,000 for the same period in 2017. Sales of condos increased 1.59% to 447 units sold during the first half of the year, from 440 units sold during the first half of last year.
Sales of single-family homes on the Big Island from January through June declined -2.67% to 1,202 homes sold, from 1,235 homes sold during the first half of 2017. However, the median price of a single-family home on the Big Island rose 7.68% during the first six months of the year to $371,500, from $345,000 during the same period last year.

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Photo by Gregory Blore. Makahuena Estates is a 13 acres of land located between the Point at Poipu and the Makahuena Condominium complex. Offered at $20 Million as a bulk sale. Click on the photo for additional information and contact me for project documents. Lynda Gill (RS) 808-346-0056

Makahuena Estates 
Located between the Point at Poipu and the Makahuena Condominium Complex has been a vacant parcel of oceanfront land with one lone lighthouse on it.  This parcel of land has been a popular fishing spot and a part of the path that morning walkers would take.  The 13 acres is owned by aNative Alaskan company, Anchorage-based CIRI Land Development.  They acquired the land, which was the former Makahuena Point Coast Guard station, from the U.S. government in 1996. The land has been vacant ever since.  Until now.

I’ve been watching this project being developed and there was a lot of noise last year about the lots coming on the market.  What I liked was instead of a high rise condo complex they opted to have 10 residential lots which can be vacation rented.  I did receive a project brochure showing what was going to be offered but the lots never came on the market.  Earlier last week however it was announced that instead of selling the lots individually the property is first going to be offered as a bulk sale for $20 million.  This is a departure from the original plan that was marketed: to sell the lots individually.  Should this property not sell in 3 months the lots will be offered for sale individually, price for the lots was not given.  The infrastructure has been completed but because the property is oceanfront there are additional building restrictions that would need to be considered.

Federal Emergency Management Agency Closes Koloa and Kapaa Doors

The Registration Intake Centers in Koloa and Kapaa will be closing due to low attendance however the center in Hanalei will remain open. The massive flooding that happened to our island largely impacted the North Shore, it’s not surprising that the South Shore and the Kapaa location are closing.

Jointly operated by the state of Hawaii and FEMA, the SBA Disaster Recovery Center opened on June 29 to offer residents affected by the April flooding, mudslides and landslides that took place on Oahu and Kauai a one-stop shop for disaster assistance.

FEMA reported that 323 Kauai residents had registered for individual assistance as of July 5. The maximum grant qualifying residents may receive is $34,000. Currently, the average amount approved for housing assistance is $6,932.23.

There is a deadline of Aug. 27 to apply for assistance for individual physical damage, and for small businesses impacted by the disaster the deadline for filing is March 27, 2019.

To register for FEMA individual assistance or for more information on FEMA programs, residents may also call 1-800-621-FEMA (3362) or visit www.disasterassistance.gov.

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