Kauai Real Estate Update- What is happening right now is “Election Anxiety” which has officially reached an all-time 40 year high as reported by CNN. It was also stated that “Nearly a third of people in financial decision-making roles said they “postponed,” “scaled down,” “delayed indefinitely,” or “permanently canceled” their short-term and long-term investment plans because of election uncertainty this year, a recent Federal Reserve survey shows.” This is a real syndrome and one that we feel every four years but this year it's extra, to read the CNN article click HERE ). If your property is priced correctly but is not selling it probably has nothing to do with the price but rather Buyer anxiety. Buyers would do really well to buy now when no one else is. When the election is over, this too will be over.
The real estate activity last week was down, click here to access what Sold, was Just Listed and what went Under Contract on the island; Kauai Real Estate Activity October 21 to 27, 2024.
Kiahuna Plantation Real Estate Update- Sold | Ocean Front Kiahuna Plantation #191 Sold Price $750,000 (LH). There are only 4 buildings at the Kiahuna consisting of 17 units that are considered to be Ocean Front. Unit #191 had been in this owner’s family since 1986 and it sold yesterday after almost 4 decades of ownership. For a complete list of all the real estate activity at the Kiahuna since the beginning of this year click here; Kiahuna Plantation Current Market Analysis
73 Hawaiian Airlines People To Be Laid Off
There are 1,400 people employed by Hawaiian Air both here in Hawaii and on the mainland that are not contract employees, being non contract they are also not a part of a union. This will probably not be the last of layoffs for nonbargaining members of Hawaiian Air.
Of those 73 to be laid off the majority of them are in our State; 52 of them are here in Hawaiian Airlines headquarters, 4 work in the Air Cargo hanger in Honolulu and one person from the Honolulu Airport. Their last day will be December 17th and they will be paid through the end of the year. The people being laid off were described as “duplicate, non-contract operation support roles”. The Airline Unions here in Hawaii were told that the merger for their workers will be seniority based. Both airlines employ 33,000 people in the United States, Asia and the Pacific.
The Costly Truth: How Mainland Lenders Can Fail on Hawaii Vacation Rentals—and How to Protect Your Investment
I recently sat down with Valerie Harjo from Guardian Lending to chat about why using a mainland lender for Hawaii vacation rentals can backfire. Picture this: a buyer, confident in their go-to mainland lender, goes under contract for a vacation rental here in Hawaii. Thirty days in, the deal looks solid—until underwriting steps in, and everything falls apart. Valerie broke down why this happens so often, and it mostly comes down to Hawaii’s unique property types. Properties like vacation rentals, condos in the Visitor Destination Area (VDA), and condotels don’t fit the typical mainland lending guidelines, even if the buyer qualifies.
This is where local expertise matters. Hawaii’s real estate quirks are second nature to local lenders, who can spot potential issues way ahead of time. When you’re dealing with properties in the VDA or condotels, a local lender who knows the landscape is invaluable—they can help keep your deal moving forward without the last-minute surprises that mainland lenders often miss.
Hanalei Homeowner Replacing Cesspool Hits A Roadblock
If you have a cesspool in Hawaii here are three things to know; A) by 2050 you have to convert over to a septic system B) that conversion needs to happen sooner if the cesspool fails and C) if you do any renovations that involve pulling a permit you have to upgrade to a septic.
Here is what you don’t know; if ancestral remains are found while working on your cesspool to septic conversion everything stops and that’s exactly what has happened to a property owner in Hanalei.
The State of Hawaii placed a “stop work order” after ancestral remains were found during the conversion process. There was some protesting happening as well from people who say they are decedents of the people who remains were found, those protestors were found to be trespassing and were arrested.
So how did this happen? I did some digging after I read that the owners “didn’t know that they needed to convert their cesspool” and only found out about it when they went to get their permits. The owners bought directly from the owner, no real estate agents were involved.
Kauai has 14,300 cesspools and as 2050 nears I would think conflicts like these would happen more. Clearly we need to do better and it seems our Mayor agrees. He visited the site and stated; “as we continue the state’s cesspool conversion program, we know iwi disturbance will continue to be a concern. As government, we clearly have room to improve the permitting process, and help find a way where we can do right for the environment and our host culture.”
