Kauai Real Estate Update- For a complete list of what was Just Listed, was Sold and the properties that went Under Contract last week on the island of Kauai click here: Kauai Real Estate Update February 12 to 18, 2024
Poipu Beach Real Estate Update- A iconic Ocean Front home just came on the market last week and if the listing looks familiar it’s because it was listed last year for $15 Million, the new price is $13.995 Million. I’ve always loved this house, single story on over 34,000 sq ft of land it just has everything you would want for an incredible Poipu Beach Estate. To see this home click here: Sunset Makai Hale
For a complete list of the fee simple 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
Kokee Cabins Available To Be Leased
Starting mid-April the DLNR will be leasing seven cabins in Koke’e. The last time they were offered was in 2011 and that lease lasted for 10 years. The cabins have been deteriorating for since 2021 and are in “rough shape”.
The public will be able to view these cabins at the end of the month and bid on them in April. Opening bids will start from $4,500 to $9,500 for annual rent.
2024 “Year Of Recovery” For Housing
Lawrence Yun, the chief economist for the National Association of Realtors, stated he believe the “sluggish inventory and home sales” is over and that 2024 will be a recovery year.
And, the numbers show it. The Median Price at the end of the fourth quarter was up 3.5% from the previous year. Lawrence Yun stated; “Price increases have become much more moderate than the past two years. That’s a good thing. Income growth is catching up with home prices."
Mortgage Rates Playing A Big Part
When the 30 year fixed rate went from 7.79% to 6.61% this seemed to be the signal for those that were waiting for a sign. As of February 4th, 2024 the Median U.S. sales price was up 5.4% from the previous year which is the largest increase we’ve seen since the COVID buying run.
Lawrence Yun weighed in on this as well by stating that he thought the rates would go down further this year but not by much.
I spoke to Valerie Harjo with Guardian Lending about interest rates for 2024 and have included that video titled: “2024 Interest Rate Forecast, Navigating Market Trends and Predictions” Enjoy¡
Delta Expanding Their Hawaii Flights
Delta Airlines is expanding their Hawaii footprint by adding service from Boston to Honolulu as well as a couple of seasonal flights; Salt Lake City to HNL, a third daily Seattle to HNL will be added and Atlanta to Maui.
Cat Café On Kauai
Did you know that Kauai has a “Cat Café”? We do and they are approaching their 6 month anniversary.
Located in the Harbor Mall (in Lihue), and working closely with the Kauai Humane Society, TropiCats is doing what they can to help kitties who need homes. The facility has beverages and snacks available and allows you to spend some time with the cats before you adopt one. They also have cat yoga, Friday evening coloring sessions, Saturday date night and books to read as you cuddle up with a cat. You can also host meetings at the facility.
Stressed out on your vacation on Kauai and need a cat fix? You are welcome to stop by. This reminds me of the Kauai Humane Societies popular “Shelter Dog Field Trip” which has been so popular. A win-win for both the animal and humans.
As with the Shelter Dog Field Trip program; cats can be adopted by tourists and flown home with them. All cats are up to date on their medical care and have been spayed or neutered. So far 20 cats have found new homes, a couple of them in Pennsylvania and North Carolina.
The owners do what they can to keep the center profitable with meeting rooms, beverage/food sales and cat merchandise. They are open 10 a.m. to 6:30 p.m. Wednesday through Sunday and you can visit their website by clicking here: TropiCats Website
