Kauai Real Estate Update, Pili Mai At Poipu Event, Oahu-Maui-Big Island Real Estate Update

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

I Just SOLD Unit #183 located in building 28 for $225,000 (LH). This one bedroom one bath had nice upgrades and is 50 steps from the ocean that the Kiahuna Plantation is one. Click on the photo for details and give me a call if you missed out on this one. Lynda Gill 808-346-0056

Kauai Real Estate Update 
Last week we had 30 properties that sold and on the same week last year there were 21 that had sold, the trend of the number of properties selling on the rise continues. Island wide the number of sales is up 2.45% from 531 closed transaction to 544 when you compare this time of year to last year. For a complete list of the market activity for this last week on the island of Kauai click here; Island Of Kauai Real Estate Review June 5 to June 11, 2017.

My Poipu Beach fee simple real estate page has been updated, for all the news on what has sold, the new listings and the current escrows in this area click here; Poipu Beach Real Estate Update

Last week I SOLD Kiahuna Plantation unit #183 which is located in building #28. For all of the real estate sales at this complex go to my updated page for this resort; Kiahuna Plantation Real Estate Update

Safeway in Puhi Shopping Center Gets 4 New Business’s
Four new businesses that include three restaurants and a retail store are coming to Puhi/Lihue area “Hokulei Village” shopping center.
Verde Restaurant could be opening as early as next month. I had written about this last year when it was first announce, this is one of my favorite restaurants and I’m excited about not having to drive to Kapa’a to go to this place anymore. Bonus; Kristen Yanagawa, who was at Tapa’s in The Shops at Kukuiula, will be the executive chef at Verde’s!
Our island’s first ever Domino’s Pizza will be moving into a corner spot at the Hokulei Village, they just signed a lease on the 4,000 square foot spot.
“Orly’s Patisserie” will be opening as well. After years of working at the Grand Hyatt and at The Club at Kukuiula, Orly Yadao will be opening his pastry shop.
Construction of Bedmart is also under way, with the store expected to open before the end of the year.

The Point At Poipu Reopens
After five years of renovation Diamond Resorts International is reopening The Point at Poipu. The Point at Poipu has 219 units spread over a 22-acre oceanfront property overlooking Shipwreck Beach which is in front of the Grand Hyatt.
The resort has been redesigned with new upgrades such as custom underwater scenic chandeliers and amenities such as an on-site fitness center, gardens, and a poolside bar and grill. There will be a grand opening this Wednesday.

Oahu, Maui and Big Island Year To Date Real Estate Activity
Last week I blogged about the real estate Year To Date activity for the island of Kauai and this week I have the numbers to see how the other islands are doing!
The number of Single-family home sales on Oahu jumped 13.5% in May to 362 sales, the highest number since August 2013. This momentum is expected to continue into June, as pending single-family sales are up by 37.7% from last year to 625. Oahu condominiums also experienced strong sales last month, increasing 13.2% to 540.
The Median price of a single-family home in May was $750,000, 4% higher than last year’s median price of $719,000. The median price of a condominium last month was $407,000, 9% higher than the median price in May 2016, which was $375,000.

On Maui the Median Price is increasing and the Days On Market are decreasing. The Median Price for a single family home Year To Date is $685,000 and this time last year it was at $622,500 which is a 10% increase. The number of sales are down slightly from 434 closed transaction in 2016 and at this same time we’re at 425.
Condominium prices are up from a Median Price of $427,000 in 2016 and now they’re at $480,000 a 12.4% increase. The number of condominiums sold 536 in 2016 to 589 in 2017 representing a 9.9% gain.

Sales of homes on the Big Island rose last month, with the number of condominiums sold jumping by 40%, even as prices dropped by 20% compared to the same month last year.
There were 93 condo units sold on the Big Island in May, an increase of 40.9 percent from 66 units sold last year. The median price of a condo on the Big Island, however, dropped 19.6% to $273,000, from $339,500 in May 2016.
The median price of a single-family home rose 2.55% to $322,000, from $314,000 last year. That was based on sales of 238 homes, an increase of 9% from 218 homes sold in May of last year.

Pili Mai Recreation Center Event For Realtors
Last Thursday night I went to an event that Brookfield held for the Realtors showcasing their brand new Recreation center, pool and spa at Pili Mai. I’ve always liked this project because it’s answered a need that a lot of my clients have had; new construction, air-conditioning, vacation rentable and a garage. No other project in Poipu offers this and since it’s located within a nine iron of the Kiahuna Golf Village subdivision where I live I’m (obviously) a big fan of the location!

The team served heavy puu puu’s, drinks and had a band playing. Local rental agents and lenders were at the event as well. The fact that this property can be marketed with a workout center is huge. Prior to this amenity being completed people had to go over to the Poipu Beach Athletic Club for this amenity, despite that their rental numbers are good.

This project has impressive sales with each new building that gets built prices going up slightly. Last week alone units 1K, 1L, 9H, 12F and 12H went under contract.

Below are a couple of the photos from the event, to see all of the photos click on this page; Pili Mai Event and contact me for the up to date information on this project; Lynda Gill 808-346-0056

 

 

 

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