Kauai Real Estate Update- I have (had) a lovely new listing at the Kalaheo Pali Kai that had two offers by the second day of being on the market. We are under contract and have a backup offer as well. This unit has a good location in the complex and is a corner unit which is really nice, those have a little bay window and natural light.
For a complete list of all the real estate activity on the island for last week click here; Kauai Real Estate Activity January 8 to 14, 2024.
Poipu Beach Real Estate Update- For the first time in 3 years a Kuhio Shores has come on the market. I just listed unit #215 which is a 2-bedroom 2 bath unit with huge (huge!) ocean views. What I love about Kuhio Shores is the units are all single level and with the elevators you never have to worry about stairs. If you would like to virtually walk through the unit you can by clicking on this link: Virtual Walk Through Kuhio Shores 215.
For a complete list of all the fee simple real estate activity in Poipu click here; Poipu Beach Current Market Analysis
For the Kiahuna Plantation click here; Kiahuna Plantation Current Market Analysis
New Mode Of Interisland Transportation Considered
Being considered for interisland travel is the “Seaglider” which is a 12 seater plane that would fly 30 to 60 feet above sea level from island to island. It is zero-emission and all electric that has a top speed of 180 mph.
Our Governor is behind this and has put together The Hawaii Seaglider Initiative which is spearheading this new possible mode of transportation. Currently the Seaglider is going through a certification process with the Coast Guard and the FAA. Mokulele is the proposed operator and testing this with actual passengers is supposed to happen sometime this year. The goal is to get this going by 2026.
You might remember the disastrous Superferry venture and I would think that there will be opponents who will make their concerns heard about this. I would also think that there will need to be an Environmental Impact Study (EIS) done.
Stay tuned on this one.
Brennecke’s In Poipu Beach Turns 40
To celebrate their 40th birthday the owners of Brennecke’s, Bob and Christine French, will be adding live music Tuesday through Friday from 7 to 9, Hula Pie and special pricing on their Mai Tai’s. The Frenches are going to turn the restaurant, Deli, Activity Shop and Nukomoi’s Surf Shop over to their children however, the parents will still remain involved with the business.
Brennecke’s restaurant got its name from the same place that the beach did; Dr. Marvin Brennecke who had a home in between Poipu and Brennecke’s Beach. Dr. Brennecke was in charge of Koloa and Waimea hospital. Dr. Brennecke and his wife occupied the house until 1944 when they moved to Waimea. The home was destroyed by Hurricane Iwa in 1982. Fun fact; Dr. Brennecke was Bob Frenches Doctor.
Brennecke’s Broiler has gotten larger over the years as their loyal following and beachside location have made it a Poipu Beach fixture over the years.
Oahu, Maui and Big Island Real Estate Year End Review
It wasn’t 2021 for Sellers but it wasn’t 2008 for Buyers. It was “The Real Estate Market Crash That Never Happened”. Surprising how well real estate did here in the State despite a solid year of rising interest rates.
In looking at the number of sales it is shocking how few homes sold on Kauai, that was not due to a lack of interest it was due to a lack of inventory. On the entire island of Kauai we only sold 284 homes for an entire year and were down the highest of all the islands which were off 25 to 28 and change percent.
Even with the fires in Maui that wiped out their inventory and impacted their tourism since August their Median Home Price is up 8.60% and their condo prices up 7.42%.
Some buyers are waiting for interest rates to drop before they jump back into the market and some have to wait until they do. Should that day come, either way I just don’t think it will be good for Buyers when there are more of them competing for the small amount of inventory on hand. I’m already seeing an uptick in Buyer activity as are other agents here in Hawaii and in other states.
Below is a graph showing the year end numbers compared to last year.