Kauai Real Estate Update- For a complete list of all the real estate activity on the island of Kauai for last week click here: Kauai Real Estate Update May 30 to June 5, 2022.
Poipu Beach Real Estate Update- For a complete fee simple market update on Poipu Beach real estate click here: Poipu Beach Fee Simple Current Market Analysis
For the Kiahuna Plantation click here: Kiahuna Plantation Current Market Analysis
Poipu Beach Ocean Front Home Coming Soon
I will be listing an oceanfront home this week here in Poipu Beach with views that are perhaps the best that I have ever seen. From the living room you can see Spouting Horn, Monk Seals and Turtles on a little nearby beach, Whales, Spinner Dolphins and Sunsets (depending on the time of year). This home is not, and cannot be, a vacation rental but with a separate entry to the ground floor 1 bedroom 1 bath it has lots of potential. This home is for the buyer that is able to do the renovations needed to bring this property to it’s potential. If you are interested contact me for more information.
Hawaii Vacation Rental Occupancy Year To Date
A “Vacation Rental” is a privately owned condominium or home that are rented out for a vacation rental. The data supplied was taken from properties listed on Airbnb, VRBO, HomeAway and TripAdvisor. These privately owned vacation rentals are almost at 2019 pre-pandemic levels which was 73.1% occupancy in April of 2019. In April of 2022 we’re at 72.4%.
That number is a bit skewed because the supply is down statewide. This is because of the influx of owners moving over here and those that turned their vacation rentals into full time rentals during the pandemic. The number of properties that were available in April of 2022 was down 25.5% when compared to April of 2019.
Out of all the islands, Kauai had the highest ADR (Average Daily Rate) at $386.00.
Largest Protest Yet For Poipu Beach Condo Development
Kauanoe o Koloa is drawing headlines in our newspaper again. There have been multiple protest marches and Wednesday the largest one to date happened. There were more than 150 protesters, some coming from other islands.
Kauonoe o Koloa is the proposed condominium project just north of Pili Mai in Poipu. Located on the Kiahuna Golf Course there are 279 units with prices starting at $1,199,000.
The groups Save Koloa and Malama Maha’ulepu filed a lawsuit against the County of Kauai and the Developer of the proposed complex last month, their complaint is that there are endangered species and culturally significant land at the site.
While the developer does not have their Final Building Permits they have been approved to do site preparation and this is where the problem is. A part of the site preparation has been daily blasting for sewer and wastewater. The blasting, the activist claim, is exposing the caves. The Developer’s team of specialists say there are no caves.
Kauai Real Estate Year To Date 2022 vs 2021
It’s the beginning of June and we can look at the first five months of this year to see where the housing market is at compared to this same time last year. The data is below and here are some key takeaways:
Not much for sale here on Kauai, this is showing up in these numbers.
Home prices up 11.63%
Days on Market for Homes in May 2021: 68, May of 2022: 52
Home Sold Price vs Original List Price in May 2021: 97.7%, May of 2022: 95.8%
Condominium prices up 10.48%
Days on Market for Condos: May 2021: 92 May 2022: 42
Condo Sold Price vs Original List Price: May 2021: 95.2%, May of 2022: 101.6%
Below is a graph comparing the year-to-date activity for 2022 vs 2021. These numbers are general in nature and might not accurately reflect your particular area of interest. This is especially true for condominium complexes which will have their own subset market. Call me to do a more in-depth analysis.