Kauai Real Estate Update- For a complete list of all the real estate activity on the island for last week click here; Kauai Real Estate Update January 6 to 12, 2025
Poipu Beach Real Estate Update- Last week a home in the Weliweli track here in Poipu Beach came on the market for $1.625 Million. What is significant about this is the subdivision originally started as affordable housing in Poipu Beach and the homes were built in 1969. While some homes have gotten to this price point it’s been rare, I can remember how significant it was when this neighborhood broke the $1 Million mark and now that’s a bargain. You cannot do vacation rentals in this neighborhood but the location is phenomenal. To see that listing click here 2413 Kipuka Street, Poipu Beach
For all the real estate activity in Poipu Beach click here; Poipu Beach Fee Simple Current Market Analysis
For the Kiahuna Plantation click here; Kiahuna Plantation Current Market Analysis
When Do Kauai Vacation Rentals Sell the Most?
Is there a peak season for Kauai vacation rentals? Absolutely! In this video, I break down why the most popular time for buying vacation rentals in Kauai is from the end of the first week in January through May. During this time buyers, often those with financial flexibility, focus less on profitability and more on the lifestyle and experiences Kauai offers during this period. While vacation rentals are sold year-round, the first five months see the highest activity.
U-Haul Buys 12.5 Acres Next To Walmart
A plan for a U-Haul three story self-storage building, U-Box storage and Truck and Trailer rentals are U-Hauls plans for a 12.5 acre parcel they bought on December 20th, 2024 for $13.25 Million. The land was owned by the Harry and Jeanette Weinberg Foundation and is located between Walmart and Wilcox Hospital.
Illegal Fireworks Collected & Special Task Force Formed
Oahu held a illegal fireworks amnesty event last week which, on the first day, netted more than what had been collected for the three day event in 2023, clearly the Oahu neighborhood deadly explosion that killed 4 people and left multiple people with life threatening injuries contributed to the event. No questions were asked as people dropped off fireworks at Aloha Stadium. The intensity of the explosives has reached a new level such as; aerial shells that the Waikiki resorts use, 198-shot Roman candle and large mortar tube shells.
The State Department of Law Enforcement shared details last week on the plan and cost to be more aggressive with cracking down on illegal fireworks. $8 million was requested and granted for six investigators to be hired and for ongoing forensic testing of seized evidence. To see the full report click; 2025 Illegal Fireworks Task Force
X-raying shipping containers was talked about but that is not the only way they enter into our state. Illegal fireworks have been found on commercial passenger airplanes by way of the postal system. A function of the Illegal Fireworks Task Force will be to find the Kingpins of this black market which is very lucrative, $200K worth of illegal fireworks has a $1 million dollar street value.
Hawaiian Homelands to Acquire Courtyards at Waipouli Apartments, Residents To Be Displaced
The Department of Hawaiian Home Lands will be completing the purchase of the Courtyards at Waipouli Apartments this February and this has residents within this complex worried. The 82-unit complex is made up of one-to-three-bedroom apartments, is located in Waipouli and was built in 2009. On Kauai there are very, very few apartment complexes and this one is down a side street so you’ve probably not seen it.
When the complex was first built there was a 10-year affordability restriction on 50% of the units but that ended in 2019 and rents have been going up. Residents initially lobbied for the state to buy the property but it’s been sold to Hawaiian Home Lands who will be housing Native Hawaiians. The definition of a Native Hawaiian is someone who has at least 50% Hawaiian blood.
As leases end for the current tenants end those tenants will need to move. Relocation help is available but properties that match the rental amount the current residents are paying are not that abundant.
It's a situation where there are two groups that need affordable housing but one will be moved out and the other group will benefit.
Oahu, Maui and Big Island Year-End Real Estate Report
The numbers varied but Statewide the Year End 2024 real estate numbers were the same story for every island. The impacts of the Maui August, 2023 Lahaina fire, and the new vacation rental restrictions that followed, are still contributing factors to their numbers. On Kauai the percentage numbers were huge despite the fact that our inventory is so small compared to the other islands.
Here are the highlights;
🏝️ All four islands number of home sales are up with Kauai the only one in double digits
🏝️ Statewide the Median Price for a home is up with Kauai the only one in double digits
🏝️ The number of condominiums sold were uniformly down with Maui coming in the highest
🏝️ Median Price for a condominium is up for all four islands, Big Island coming in at double digits
Below is the graph and if you have any questions on how this information relates to your particular area of interest let me know.
