For a list of what Sold, what went Under Contract and what was Just Listed on the island of Kauai for last week click here; Kauai Real Estate July 22 to 28, 2024
Poipu Beach Real Estate Update- Regency at Poipu Kai Unit 112 | Under Contract $995,000 (FS)
It’s rare to find an ADA compliant vacation rental condominium in Poipu and even harder to find one with such little wear and tear. Unit #112 came on the market for the first time since it was bought by the owners from the developer in 1999. It’s been owner occupied for the last 20 years and is one of only two units at Regency at Poipu Kai that is ADA compliant, has extra square footage and three lanais.
For a complete list of all the real estate activity in Poipu since the beginning of this year click here; Poipu Beach Fee Simple Current Market Analysis
For the Kiahuna Plantation click here; Kiahuna Plantation Current Market Analysis
Hawaii Vacation Rental Stats June 2024
Short Term Rentals (STR’s) are condominiums and homes that are used as vacation rentals. The stats on this market will be different from hotels in the respect that owner occupancy cannot be factored in. Condos and homes will experience the same "shoulder period" in the first half of June as our hotels.
For a large part of our visitor market, school is still in session followed by graduations for the first half of June, travel to Hawaii really starts around the middle of the month.
We’re comparing the month of June 2024 to June of 2023 and we see that Oahu is the only island that had an increased in occupancy. Kauai, however, had the highest ADR (Average Daily Rate) but the lowest percentage increase in their daily rate.
Condominium and Home vacation rental stats for the month of June 2024 vs June 2023;
🏝️Kauai
Occupancy 51.3% in 2024 down 1.8%
Average Daily Rate $393.00 up 3.9%
🏝️Oahu
Occupancy 61.2% in 2024 up 4.8%
Average Daily Rate $268.00 up 10.5%
🏝️Maui
Occupancy 49.3% in 2024 down 10.2%
Average Daily Rate $380.00 up 7%
🏝️Big Island
Occupancy 42.5% in 2024 down 4%
Average Daily Rate $258.00 up 5.3%
Arson Suspected In Recent Kauai Fires
The Kauai Fire Department has found “incendiary devices” in the area of Poki’i Ridge which is where the Westside fire started on July 15th. The Panini Fire is also in this area and was a second fire that contributed to this massive fire which burned a total of 1,100 acres of land, forced residents to evacuate as well as a loss of power and water to the community. Fortunately, no lives or structures (besides an unattached shed) were lost. Fire Officials suspect that was also started by arsonists.
The day after the Waimea fires started a third fire broke out in Kapa’a on July 16th. The cause of that fire was determined to be improper use of charging equipment consisting of a photovoltaic panel connected to a car battery.
All three fires are still under investigation and if anyone has any information you are asked to contact Crime Stoppers Kauai 808-246-8300.
Update On Na Pali Helicopter Crash
“Mast Bumping” is being suspected as the cause of the July 11th helicopter crash off the Na Pali Coast that claimed the lives of the pilot and two passengers, a husband and wife that were visiting Kauai.
The Ali’i Air Tours and Charters Robinson R44 helicopter left Lihue airport at 12:30 for a “doors off” tour of the island. FAA lost contact with the helicopter on the Na Pali coast which is typical due to the mountains which left the mystery of what happened up to a couple of hikers.
According to the hikers conditions on the Na Pali Trail were very gusty, as they stopped for a rest a sudden “huge” gust of wind blew over them and then they heard a loud “bang”. When they looked in the direction of the noise, they saw a helicopter in two pieces falling into the ocean about a quarter mile offshore and sinking immediately.
Given the turbulent conditions it’s speculated by a pilot Bruce Mayes that a rotor failure is what likely happened, or “mast bumping”, this is where the helicopter blades damage the mast.
Bruce Mayes stated; “If you get a serious gust, it’s possible that it would lift the helicopter up to a point where the rotor system begins to tear and you get into what they call a low G. And that sensation would be like you feel in an airplane when it when it goes up and you’re kind of light in the seat. You could end up cutting the tail boom off, you could end up breaking the mast of the rotor system off. ... Regardless, it’s usually ends in a catastrophic accident.”
Mast bumping is rare but not a new incident for Robinson R44 helicopters.
