Kauai Real Estate Update, Ocean View Makahuena Sold, New Shaka License Plates, National Real Estate 2024 vs 2023

Kauai Real Estate Update, Ocean View Makahuena Sold, New Shaka License Plates, National Real Estate 2024 vs 2023

  • Lynda Gill
  • 05/27/24

Kauai Real Estate Update- There were 5 properties that sold last week before they ever hit the market and two of them were at a significant price points $2.5 and $4.920 million.  The number of properties that went under contract and sold were on the higher side with 20 going under contract and 21 properties that Sold.  For a complete list click on this link;  Kauai Real Estate Update May 20 to 26, 2024.

Poipu Beach Real Estate Update-  Sold  |  Makahuena Ocean View 
My listing at the Makahuena had multiple offers and sold for $25,000 over the listed price at $875,000.  This ground floor unit was sold unfurnished and had a nice view of the ocean from the lanai.  For more details click here; Sold Ocean View Makahuena 1102
For an update on the fee simple Poipu Beach market click here;  Poipu Beach Fee Simple Current Market Analysis
For a Kiahuna Plantation update click on this link;  Kiahuna Plantation Current Market Analysis

New Hawaii Shaka License Plates
This is the “Year Of The Shaka”!  Just out last week are “shaka” car license plates, a program that has been 2 years in the making.  The movie “Shaka, the Story of Aloha” will be out at the end of the year and then there is Bill 3312 which designates the shaka as the official state gesture.  This is expected to be signed into law by the Governor next month. 
I knew states had their own mottos, songs, flags, nicknames etc. but did not know about their own gesture, I did a google search and it looks like we are the first to do this.  
The goal of the new plates is to; “preserve aloha on Hawai‘i roadways by reducing road rage and infusing aloha into both locals and visitors alike.”  You need to trade your old plates for these new ones which cannot be customized.  The initial fee is $30.50 and then $25 a year after that of which $20 goes towards the program “ID8” which is a non-profit that will spread aloha through shaka based programs.  For more information click here;  Hawaii Shaka License Plate Information

Kauai Condominium Remodel Example
Over my 20 years of selling real estate on Kauai, I've seen a wide range of remodels and upgrades on homes and condominiums. Recently, I sold a condominium that exemplified the ideal renovation: aesthetically pleasing, fully functional, and excellent for resale value.  When my husband and I bought our vacation rental condominium on Kauai, and later our current home, we didn't have the budget for a major remodel right away. Instead, we've taken a gradual approach, tackling one project each year, and it's worked out very well for us.
I did a video which breaks down a few renovation ideas and why they make a lot of sense.  This was done at a Kiahuna Plantation condominium but the information can be applied on other condominiums and homes.  If you are building a home or doing a major remodel, consider having your Realtor review your plans for valuable feedback on resale potential and what today's buyers are looking for.

National Real Estate year to date compared to 2023
Looking at the national real estate market and comparing Year To Date real estate sales at the end of April, 2023 to 2024 there are three key points;
1)  All four major U.S. regions were down in the number of sales.
2)  Housing inventory is up however; the gain of houses is in the higher end market.  3.5 months of inventory is the current average up from 3.2 this time last year.
3)  Median Price is up 5.7% at $407,600 compared to $385,800 last year.  This is the Tenth month in a row that the Median Price for homes is up.



Work With Lynda

Speaking from experience, I am here to tell you that dreams can turn into reality with a bit of planning and the help of an experienced Kauai realtor. I'd love to share my expertise with you if you are thinking of making Kauai your future home.