Kauai Real Estate Update- A $6.8 million sale happened at Timbers Resort which is located by Nawiliwili Harbor in Lihue. This condominium is 3,717 sq ft and is the highest priced condo that has sold in Kauai Year to Date. The Chief Developer at Timbers Resorts said that their real estate transactions have more than doubled over this last year with $34 million in new contracts in 2021.
For a complete update on all the real estate activity on Kauai for last week click here: Kauai Real Estate October 25 to 31, 2021
Poipu Beach Real Estate Update- To find out what is happening in the Poipu Beach fee simple market since the beginning of this year click here: Poipu Beach Real Estate Update Current Market Analysis
Kiahuna Plantation Real Estate Update- I love the views at my new listing Kiahuna Plantation unit #413. This condo is located on the top floor of building 40 and here’s a fun fact: building 40 is the highest point within this complex. This corner unit has a Southeast orientation for maximum airflow. Sweet condo, enjoy the video and call me for more information.
For a complete update on all things Kiahuna click here: Kiahuna Plantation Current Market Analysis
Demand For Kauai Vacation Rentals Skyrocket In September
The Hawaii Tourism Authority (HTA) reported that in September Kauai had 53,346 nights occupied by vacationers which is up from 3,500 in September of 2020. These numbers are still down from 2019 but the upward trajectory is evident as are the future bookings for 2022.
Vacation rentals are generating more money as well. The average daily rate last month was $314.60 a night which is about $42 more than last September. Kaua‘is vacation rentals remain some of the most expensive in the state on average. Only units on western Maui have a slightly greater ADR.
The mob subsided a bit and I was able to get into Target this last week to give you a review. The store is absolutely gorgeous, super clean and easy to navigate. This was the old Kmart site but all traces of that store are long gone. They had a fun balloon display with the Target dog at the entry and the balloons with the number “3400” represents this stores number. This store has a full on grocery department that looked to be pretty well stocked. Stocking throughout the rest of the store was low and in some cases shelves were bare which I’d think is due to the massive crowds they’ve had.
There were a ton of check out stations and a whole separate section for returns which was at the opposite end of the store, really smart set up. There was also a Starbucks that looked to be doing a good business and a “grab and go” section. Longs Drugs also has a set up in the store and they are just starting to get up and running. Compared to Walmart I'd say their selection is much better, prices a little higher and the store is much easier to walk around in and it's really clean.
This store is a really good option for those that want to get a lot more of their shopping done in one spot. Two thumbs up!
Behind The Scenes! Buying A Second Home While Vacationing On Kauai
I did a Facetime Live interview with Valerie Harjo from Guardian Lending and this segment is about how it works when people decide to buy a property while on they are over here on vacation. What do you do when your “stuff” is an ocean away and you want to write an offer? This talk is representative on how I work with my Buyers. This interview was really fun and informative, enjoy!
Kauai Real Estate Year To Date, 2020 vs 2021
The numbers are in for the first 10 months of sales for us to compare where we were at this same time in 2020.
The number of homes that have sold, holy smokes it’s pretty amazing, there is just no sign of this stopping and the prices continue to climb. On the North Shore the number of sales is up over 100%. Prices have gone up over 30% with the exception of the Lihue area which is up just under 16%.
The number of sales for vacation rental condos on the South and North Shore are up over 100%. North Shore prices are up almost 10% and the South Shore is down only by less than 1%. As I reported last month this is because of the Kiahuna Plantation Leasehold prices which are lower but those are starting to go up as well and it’s showing up in the median price.
Land sales for both the number of them and the prices are up all across the board with the South Shore leading the charge at a 121.95% increase in the number of sales.
The graph is below and keep in mind that these numbers are general in nature and might not adequately reflect your particular area of interest. Give me a call if you have any questions on Kauai real estate values for what you are interested in.