Kauai Real Estate Update- What Sold, was Just Listed and went Under Contract last week on the island? Click here to find out; Kauai Real Estate Update May 12 to 18, 2025
Poipu Beach Real Estate Update- For the fee simple real estate activity in Poipu since the beginning of this year click here; Poipu Beach Fee Simple Current Market Analysis
Kiahuna Plantation Real Estate Update- Under Contract with multiple offers; Unit #2 at the Kiahuna Plantation. Listed at $595,000 (LH) this condominium got a lot of attention and multiple offers. The building is dealing with erosion issues which is the reason for the price. For a complete list of the real estate activity at this resort since January 1, 2025 click here; Kiahuna Plantation Current Market Analysis
What Is Leasehold — and Why It Still Matters in Hawaii Real Estate
If you didn’t grow up in Hawaii, the concept of leasehold ownership might sound foreign — it certainly was to me coming from Huntington Beach. But here, it’s part of the real estate conversation for good reason. Leasehold traces back to Hawaii’s land history, where, prior to 1840, land was held by the monarchy and ruling chiefs. That changed with the Great Māhele of 1848, which redistributed land among royals, government, and chiefs. Two years later, the Kuleana Act introduced fee simple ownership — private land ownership — but leasehold came into play too, allowing long-term use of land through expiring leases.
On Kauai and across the islands, large landowners like Bishop Estate and the Knudson family leased out land for development, especially during Hawaii’s post-WWII growth. In the decades that followed, legislation allowed homeowners and condo owners to buy the land under their property and some have converted to fee simple ownership.
There are still leasehold properties here in the state and the term “leasehold” means you own the property for a specified amount of time, but not the land it sits on. Fee simple means you own both. Understanding this distinction is key when buying property in Hawaii.
Nationally 83% Of Housing Market Up In First Quarter
For most, the cost of buying a home increased as the national median home price at the end of the first quarter went up 3.4% making the national home price $402,300. The softening of the market happened in some select areas but not enough to turn the tide for Generation Z (those born between the mid to late 1990’s) who have been hoping for a more of a price drop.
Baby Boomers (born between 1946 & 1964) were the top category of buyers making up 42% of the market. Millennials (born 1980 to mid 1990’s) dropped to just 29% of the market.
Who Had The Highest Price Increases
⬆️Syracuse, New York: 17.9%
⬆️Montgomery, Alabama: 16.1%
⬆️Youngstown-Warren-Boardman, Ohio-Pennsylvania: 13.6%
⬆️Nassau County-Suffolk County, New York: 12%
⬆️Toledo, Ohio: 11.1%
⬆️Cleveland-Elyria, Ohio: 11.1%
⬆️Rochester, New York: 11.1%
⬆️Gulfport-Biloxi-Pascagoula, Mississippi: 10.5%
⬆️Trenton, New Jersey: 10.4%
⬆️Allentown-Bethlehem-Easton, Pennsylvania-New Jersey: 10.2%
Who Had The Price Drops
⬇️Sebastian-Vero Beach, Florida: -8.2%
⬇️Punta Gorda, Florida: -6.8%
⬇️Duluth, Minnesota-Wisconsin: -6.4%
⬇️Boulder, Colorado: -6%
⬇️Logan, Utah-Idaho: -5.8%
⬇️St. George, Utah: -5.5%
⬇️Sherman-Denison, Texas: -5.4%
⬇️Abilene, Texas: -4.6%
⬇️Cape Coral-Fort Myers, Florida: -3.6%
⬇️Durham-Chapel Hill, North Carolina: -3.4%
Kilohana Plantation Railway Tour & Gaylords For Lunch
Company coming into town gives my husband and I a chance to play tourist. This last weekend we did just that. One of our excursions was the Train Tour at the Kilohana Plantation.
Making reservations was easy on their website and then I made a follow up reservation at Gaylords for lunch online.
We checked in 15 minutes before the departure time and had the option to sit in a covered or enclosed car. We all chose the open car and, a pro tip; sit on the left-hand side (as you enter the car). There was enough room for each of us to have our own seat so we were all at a window.
The train ride is 40 minutes long and is narrated by a very informed guide whose rap was practiced enough that it felt like the Jungle Cruise at Disneyland and I mean that in a good way. We chugged along 2.5 miles of rail line and learned about the crops that are grown there and some of the history.
The highlight was when we stopped and got off the train to feed the pigs tortillas. There were some cows, a donkey and a horse that showed up for some alfalfa cubes (feed them with your palm, no fingers!)
After the train ride, we walked over to Gaylords and had a wonderful lunch. If you have not eaten lunch here, I highly recommend it. The prices, food and service are really good. Pro tip; we had a party of four and the tip was already put on the bill as a “large party” charge. I’ve not seen that done for a party of four so just check your bill for this.
Our train ride started at noon and I made our lunch reservation at 1 p.m. and it was just perfect timing.
To check out the 🚂 Train Ride click HERE
For Gaylords 🍽 Restaurant click HERE
Oahu, Maui and Big Island Real Estate Year-To-Date
The number of homes sales are down on the other islands (up on Kauai) but the Median Prices are up (down on Kauai).
Kauai condominium sales and Median Prices are both up, for the other islands it’s down in both categories.
Below is the data for Home and Condo sales for all the islands as reported by the Hawaii Association of Realtors.
