Kauai Real Estate Year To Date Market Report, Hawaii Vacation Home Prices and Occupancy Up

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

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Kiahuna Plantation #140 IN ESCROW! Take a video tour of this exceptional 2 bedroom 2 bath unit. Back up offers will be accepted. List price: $625,00 (LH). Click on the picture for additional information and call Lynda Gill RS 808.346.0056

Kauai Real Estate Update 
For a complete list of what Sold, went into Escrow and the New Listings island wide for last week on the island click here: Kauai Real Estate Update October 29 to November 4, 2018

Poipu Beach Real Estate Update- My fee simple Poipu Beach real estate page has been updated and you can access that by clicking on this link: Poipu Beach Real Estate Current Market Analysis

Kiahuna Plantation Real Estate Update- One of my listings at the Kiahuna Plantation went into escrow this last week.  This 2 bedroom unit is one of only ten units in the resort that have gorgeous glass cathedral style panels on dining area side wall which offers a true dramatic flair both inside, and outside, of this condominium.  This plus so much more.  For a complete update click here: Kiahuna Plantation Current Market Analysis

Hawaii Resort Homes Sales Increase
Total resort home sales in Hawaii are on track to increase nearly 17% this year compared to 2017 levels, bolstered by a 53.6% increase in sales of new homes and condominiums by developers.  The numbers rose across the state despite natural disasters on two islands — the vog created by the eruption of Kilauea volcano on the Big Island and the flooding on the North Shore of Kauai.

Here is the breakdown:
Kauai has seen single-family home sales rise 6%, and average prices also increase by 6%, while condominium sales and prices each rose by 5%.

On Oahu, sales of resort condos were off by 1%, but prices increased by 9%, while single-family resort home sales were flat at three homes sold.

Maui resort home sales increased all around, with single-family home sales increasing by 30% compared to last year, as condo sales jumped 47%.  Prices did not follow, however, with average single-family resort home price on Maui declining by 10% and the average condo price declining by 5%.

The Big Island is actually leading by two factors — sales of condominium units are 25% higher than last year, although average prices are 6% below last year’s level, and average single-family home prices are running 11% above 2017 levels, despite a 33% drop in sales.

In Related News….Hawaii Vacation Rental Homes Numbers Increase, Hotels Decrease
The use of vacation rental homes and condominiums by visitors from Hawaii’s main tourism markets rose in September as hotel use declined, according to the Hawaii Tourism Authority.

From the West Coast, Hawaii’s largest tourism market, visitor stays in rental homes grew 25.1% last month, while hotel use decreased 1.1%. Hotel use from East Coast visitors rose last month by 5.7%, but this was outpaced by a 37.7% jump in rental home use.

Japan visitors staying in rental homes were up 37% over last September, while hotel use decreased 2.2%. From Canada, the next largest international market for Hawaii, rental home use increased 6% while hotel use dropped 15.2%.

Visitor spending from the West Coast increased 2.5% to $460.2 million last month and spending from the East Coast rose 7.9%% to $297.3 million. Spending of $43 million from Canada was flat from last year, and Japan spending decreased 4.1% to $179.9 million.  This decrease from Japan is partly due to Typhoon Jebi, which struck Japan on Sept. 4 and resulted in the cancellation of 80 scheduled flights to Hawaii.

Kauai Real Estate Year To Date Report
The numbers are in for the first 10 months of this year and this week I will compare where we are at compared to this same time last year.

The South Shore is the only area that had increases in both the number of Sales and the Median Price. All categories island wide are up with the exception of the number of land sales which are down but the Median Price is up. Despite the storms that impacted the North Shore their Median Price for a home is higher than last year, the number of sales for their homes and condominiums is flat.

The graph is below which is general in nature.  To find out how your particular area that you are most interested in is doing contact me for a specific market update.
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