Kauai Real Estate Update, Ocean View Makanui Just Listed, Merrie Monarch Festival

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

Kauai Real Estate 

<img src=”image.gif” alt="makanui“/>

Just Listed! For the first time in over 26 years an upper floor unit is available in building 2 at Makanui. Click on the picture for a video tour. Call Lynda Gill (RS) 808-346-0056 for more information.

For a complete list of what sold, went into escrow and all the new listing island wide for last week click here; Kauai Real Estate Update Week Of April 20, 2017

I’m really excited about a new listing of mine at the Makanui located at the Poipu Kai Resort. Unit #221 is located in building 2 and the last time one of these upper floor units were available to buy was over 26 years ago. With these kinds of ocean views it’s easy to see why the owners hang on to them. To find out more go to my Poipu Beach Real Estate page which has been updated with all the activity for the fee simple market since January 1 of this year, click here; Poipu Beach Current Market Analysis

Kiahuna Unit #161 which is a listing that our office has went into escrow this last week taking one more unit off the market, we are now down to 26 units available at this resort which is less than half of the number of condos that we typically had for sale for several years running. For a complete market analysis click here; Kiahuna Plantation Current Market Analysis

Kukui Grove Cinema Sold

HTH Corporation, a Honolulu based company, recently spent $4 million dollars on acquisition of some commercial properties across the street from the Kukui Grove Shopping Center.
Hawaii businessman Duane Kurisu sold his properties here on Kauai which included our one and only Cinema in town. The Kukui Grove Cinema sits on 2.2 acres of land and the theatre is 17,271 square feet. HTH also bought a nearby 21,840-square-foot property, with a 5,044-square-foot building on it, on Kukui Grove Street that includes Mokihana Insurance as a tenant.

<img src=”image.gif” alt="Hula ‘Auana - Halau Ka Lei Mokihana O Leina'ala“/>

The lovely group of ladies “Hula ‘Auana – Halau Ka Lei Mokihana O Leina’ala” from right here on the south shore in Kalaheo gave a wonderful performance. This group dance is judged by the ladies all being in perfect unison, to me they looked stunning!

Annual Merrie Monarch Festival Concludes 
This last week the Merrie Monarch Festival has been televised from Hilo, Hawaii. This event was first held in 1963 and is dedicated to King David Kalakaua who reined in 1874 until his death in 1891 and was affectionately named “The Merrie Monarch”. King Kalakaua was a patron of the arts and music and was instrumental in restoring native Hawaiian culture that had been somewhat lost during the time of the missionaries arriving to the islands.

Hiwalei Aliser from Kauai competed for Miss Aloha Hula and she came in third place. The lovely group of ladies “Hula ‘Auana – Halau Ka Lei Mokihana O Leina’ala” from right here on the south shore in Kalaheo gave a wonderful performance. This group dance is judged by the ladies all being in perfect unison, to me they looked stunning!

To access the website for this annual event click here; Merrie Monarch

Hawaii Hotel Rates Take A Jump In March

Hawaii hotel rates rose 2% in March, compared to the same month last year, while revenue per available room increased by 5%. Statewide occupancy for the month was 80.2%, while the average daily room rate was $265 which is up 2% from March of 2016. Statewide revenue per available room (or RevPAR ) reached $212.57 in March, a 5% increase from $201.62 in the same month last year.

Kauai saw the second highest gain, coming up right behind the Big Island. Here is the island by island breakdown;

Oahu’s average daily room rate in March was flat at $223.66, an increase of just 0.07 percent, on occupancy of 79.9 percent. RevPAR for Oahu hotels rose 2.9 percent to $178.81 in March, from $173.77 last year.

Big Island hotels saw the greatest gain in RevPAR last month, a 14.9 percent jump to $201.69, from $175.42 in March 2016. The average daily room rate on the Big Island in March was $259.49, a 4.3 percent increase from $248.82 last year, on occupancy of 77.7 percent.

Maui hotels had the highest occupancy rate for March at 82.7 percent, while the average daily rate of $364.23 was 2.7 percent higher than the rate for March 2016, which was $354.51. RevPAR for Maui hotels was $301.33, a 5.7 percent increase from $285.03 in March of last year.

Kauai hotels saw the second-highest gain in RevPAR last month, a 12.4 percent increase to $208.23, from $185.25 in March of last year. Occupancy at Kauai hotels in March was 79 percent, while the average daily rate was $263.57, a 1.8 percent increase from $258.73 in March 2016.

Former Hawaii Governor Publishes Letter To Pres. Trump

Our former Hawaii Governor, Ben Cayetano, took out a full page ad in last Fridays Washington Post asking President Trump to cut off the Federal Transit $800 million dollar grant for Oahu’s rail project. The rail project cost has skyrocketed to $10 billion.

Cayetano is a lifelong Democrat but his convictions were strong enough to reach out to the Republican President. The ad was paid for by the Princess Abigail K. Kawanaakoa Foundation and written by Cayetano, the ad cost was over $90,000.
In his letter, Cayetano says the project “does not deserve a single dollar more from the federal government. It has become the poster boy for how politics, incompetence, disinformation and outright lies are at the root of wasteful rail projects, which do little for the public except raise taxes.”

Timing is everything, Honolulu Mayor Kirk Caldwell Thursday introduced a bill to the City Council that would extend the rail tax surcharge past 2027.  Honolulu Authority for Rapid Transportation leaders are approaching the April 30 deadline to submit a recovery plan to the FTA, outlining their plan for the project in order to secure more funding.

Here is his letter in it’s entirety;

Dear President Trump,

As a lifelong Democrat and former Governor of Hawaii, I opposed your candidacy. I must admit, however, that you are on the right track scrutinizing wasteful spending on pork barrel projects.

Massive cost overruns and inflated ridership projections are the norm in rail projects, but Honolulu’s 20-mile elevated rail system tops them all. Initially estimated to cost $5.28 billion, the projected construction cost is now $10 billion or $500 million per mile, the most costly in the world.

City officials initially promised that rail would reduce the current level of traffic congestion dramatically. However, the Final Environmental Impact Statement concluded that rail would reduce traffic congestion by less than 2% and that “traffic congestion will be worse in the future with rail than what it is today (without rail).”

Currently, the City does not have the funds to complete the 20-mile system, falling at least $3 billion short and six years behind schedule.  How did this debacle happen? Frankly, like Alaska’s infamous “Bridge to Nowhere,” Honolulu’s rail project was driven more by politics than by objective engineering and planning. The rail project exists today mainly because the FTA buckled under pressure from U.S. Senator Daniel.

Inouye who was then chairman of the Senate Appropriations Committee. The powerful chairman famously declared “it would take World War III to stop the rail project!” Secretary of Transportation Ray LaHood praised Inouye as its “absolute lynchpin”.  Internal emails among FTA staff revealed there was much doubt and cynicism about rail and the City’s multi-million-dollar public relations campaign. Yet the FTA did nothing and is now on the verge of providing the remaining $800 million of the $1.5 billion grant.

Honolulu’s rail project does not deserve a single dollar more from the federal government.  It has become a poster boy for how politics, incompetence, disinformation and outright lies are at the root of wasteful rail projects which do little for the public except raise taxes.  The FTA should terminate its Full Funding Grant Agreement with the City, keep the $800 million, and use it for a worthy transit project. This would require the City to seriously consider some of the less costly alternatives to complement the rail system.  You and I met in 1998 when your Miss Universe Pageant was held in Honolulu. I recall you commented on the beauty of Honolulu and how you felt it was the perfect venue for the pageant.

The rail project plans include seven massive elevated rail stations 50-60 feet high and the 35 foot high elevated rail line through the heart of downtown Honolulu. If built, this will change the beauty and ambience of the city forever.

Respectfully Yours,

Benjamin J. Cayetano

Governor of Hawaii (1994-2002)

PAID FOR IN THE PUBLIC INTEREST BY PRINCESS ABIGAIL K. KAWANANAKOA FOUNDATION

BEFORE/AFTER RENDERINGS COURTESY OF AIA HONOLULU

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