Kauai Real Estate Update- For a complete list of all the properties that have Sold, were Just Listed and those that went Under Contract last week on the island of Kauai click on this link; Kauai Real Estate June 3 to 9, 2024
Poipu Beach Real Estate Update- To find out everything that has been happening with the fee simple Poipu Beach Real Estate market since January 1 of this year click here; Poipu Beach Fee Simple Current Market Analysis
For the Leasehold Kiahuna Plantation click here- Kiahuna Plantation Current Market Analysis
PMRF (Pacific Missile Range Facility) Looks To Renew Lease
Located on the far Westside of Kauai is PMRF and last week they hosted three meetings with the public out in Kekaha for feedback on extending their lease, this is a part of the Environmental Impact Study that they are doing.
PMRF is on lands located on Barking Sands, Mana Plain and Koke’e Park and is 8,731 acres in total. The leases have been in place since the mid 1960’s and their $1 dollar a year 65-year lease is coming to an end in 2027 and 2030, after that it will be based on fair market value. The US Navy and NASA want to continue the lease and reached out to the public for feedback on their presence which was mixed but mostly positive.
PMRF is the third largest employer on the island of Kauai with 1,000 personnel, of those 80 are military, 100 government civilians and the remaining 820 employees are Kauai citizens.
Kauai Vacation Rental Pricing Breakdown
There is no set way to determine how much your vacation rental will be rented out for. Each company will use their own formula to set your nightly rate which requires you to trust how they get to that number. The purpose of this post is not to denigrate any other company but rather to show you a video that breaks this process down so well and in a way that I’ve never seen before. The video was done by the owner of Koloa Kai Jed Stevens and Linda Sylvester who is the Strategic Advisor for Koloa Kai. They break it down to a science and I found this video so interesting, I think you will as well. Enjoy!
Just Released, Kauai Informative Facts
Did you know that the Median age of a home on Kauai is 41 years, the Median Permiting Processing Time for a new home build is 315 days, there are 73,511 people that live on this island and how many active Short Term Vacation Rentals we have? In a report done by the University of Hawaii Economic Research Organization (UHERO) here is a bullet point list of some interesting Kauai and State facts;
🏝️ Percentage of Kauai owner-occupied properties 64.8%
🏝️Kauai Homes bought last year by out of state buyers 36.6%
🏝️Kauai Condominiums bought by out of state buyers 60.1%
🏝️The number of active Kauai vacation rentals 5,281
🏝️The percentage of Kauai properties that are vacation rentals 17.5%
🏝️State of Hawaii highest rents in the U.S.A, California second and District of Columbia third
🏝️1 to 4 bedrooms long term rentals; Maui County highest with Kauai second
🏝️End of 2023 State of Hawaii 70% of active mortgages had 4% or lower interest rates
It gets even more interesting when you break Kauai down by the 10 zip codes that we have. The lowest Median age of a home is in Hanapepe at 33 years, highest is Waimea at 52 years. Highest Median Household Income is Kalaheo at $97,212. Highest owner occupants is Anahola at 83.4% and highest number of housing units that are rentals is the Waimea area at a whopping 60.4%.
If you like wide open spaces than head to Kalaheo which has 2.1 Residents per every acre of land (Koloa a close second at 2.7) and the highest density is Princeville at 72.1 Residents per acre of land.
Email me for a copy of this report, if you own property here or would like to than this information is perhaps one of the best comprehensive reports you could wish to have. Email [email protected]
