Kauai Real Estate Update, Southwest Airlines Update, Wainani At Poipu Sale

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

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In Escrow! Click on the picture to take a video tour of this exceptionally well placed lot in the Wainani At Poipu subdivision. Call me for details 808.346.0056

Kauai Real Estate Update
Our own island made the headlines when the highest priced sale in the state for 2018 recently took place. But it was not without a price reduction, and a large one at that!  A 10,000 sq ft home on 15 acres, perched above Secret Beach on the North Shore sold for $46.1 million dollars, all cash. It is a legal vacation rental which rents out for $10,000 a night.
The listing price was $70 million and you can click on this link to view the listing: Kauai’s Highest Priced Sale Year To Date
For a complete list of the properties that Sold, got accepted offer and entered escrow and the New Listings for last week island wide click here: Kauai Real Estate market update November 5 to 11, 2018.

Poipu Beach Real Estate- I successfully negotiated for my Sellers an offer we received on their Wainani At Poipu Lot and we entered escrow last week. This is one of the best locations in the development as it has a park like setting with the golf course on both sides of the lot and lovely horizon views of the ocean. For a complete update on the Fee Simple Poipu Beach market click here: Poipu Beach Current Market Analyis

Kiahuna Plantation- My Kiahuna Plantation real estate page has been updated and you can click here for that information: Kiahuna Plantation Real Estate Update

Southwest Airlines Update
The update on Southwest Airlines is always of interest. This Airline entering our market will greatly impact our tourism and interisland travel, Kauai in particular. Kauai Real Estate sales, and tourism, is dominated by the West Coast, a market that Southwest has a strong presence. While other islands will have East Coast and International influencers, Kauai is West Coast dominated.
Southwest is waiting for the issuance of their ETOPS certification from the FAA which allows them to fly over water, Southwest could start selling tickets days after the issuance of this certificate. Their CEO, Gary Kelly, stated that Southwests goal is to start selling tickets to Hawaii by the end of the year for flights beginning early 2019. The airline is opening a pilot and flight attendant base in Los Angeles in December in part to staff the Hawaii flights.

Oahu, Maui and Big Island YTD Real Estate Sales
Last week I blogged about Kauai’s Year To Date Real Estate sales and this week I have the data for the other islands.

On Oahu the Median price of a single-family home last month was $800,000, an increase of 6.4% from $752,000 in October 2017. Sales, however, declined 13% to 309 homes sold in October, from 355 sales last year.
The number of condominiums sold in October declined by 9.4% to 443 units sold, from 489 units sold during the same month last year. The median price of a condo declined 1.9% to $390,000, from $397,500 in October 2017.
The median price of a Maui home was $774,223 in October, which was an increase of 15.8% from $668,675 during the same month last year. That was based on sales of just 88 single-family homes, a 21.4% decline from the 112 homes sold in October 2017.
The median price of a Maui condominium in October was $499,000, which was a 3.6% decline from $517,500 during the same month last year. Sales of Maui condos were relatively flat with 132 units sold, a 2.2% decrease from 135 units sold in October 2017.
The median price of a single-family home on the Big Island in October was $335,000, a 12.59% decline from $383,250 during the same month last year. That was based on sales of 181 homes, which was a 21.65% decline from the 231 homes sold in October 2017.
Condominium sales declined to 67 units sold in October, which was 10.67% fewer than the 75 units that sold during the same month last year. The median price of a Big Island condo in October was $335,000, which was 26.42% higher than a year ago, when it was $265,000.

Brennecke’s Beach Broiler Renovation
Brennecke’s has long been a landmark restaurant at Poipu Beach and is best known for the epic ocean views that diners enjoy. It’s a great place too for grabbing snacks from their lower floor store and logo wear. But…to get to the restaurant you need to climb a flight of stairs and that can be troublesome for some. Soon it won’t be!
A current renovation is happing right now which is adding an elevator and redoing the restrooms so they are ADA compliant. It looks like there will be some extra kitchen room as well. I recently did a video tour that I posted on my social media accounts and I’ll include it hear for you. Enjoy!

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