Kauai Real Estate Update- There were 11 properties that Sold last week which is on the low side however, the number of properties that went under contract was high at a total of 22, one of which is a $10.9 million dollar home in Kilauea. For a complete list of everything that was Just Listed, Sold and went Under Contract last week on the island click here; Kauai Real Estate Update June 10 to 16, 2024.
Poipu Beach Real Estate Update- Just Listed | Manualoha Ocean View Unit 608 $1,275,000 (FS)
One of the features I love about this Manualoha 2 Bed. 2 Bath unit is the entire top floor is a Master Suite with two lanais, really pretty ocean views from one of them and mountain views from the other. The closet is huge as is the en suite bath with double sinks, shower and a bathtub. The downstairs lanai spans the entire length of the condominium and the living room is just huge. A super short walk to the ocean view pool and the beach. This is also one of the few buildings in this complex that allows you to add AC. Contact me for rental income and more information.
Here is a Poipu Beach real estate update; Poipu Beach Fee Simple Current Market Analysis
For the Kiahuna Plantation click here; Kiahuna Plantation Current Market Analysis
Coco Palms Partnering With Kimpton Hotels & Resorts
The Developer of the Coco Palms Resort announced that they will be partnering with Kimpton Hotels & Resorts to manage the property when they open in 2026. I had not heard of this company and saw on their website that they have a huge variety of properties in the US, Caribbean, Europe, Asia and Australia. Coco Palms was on there as well listed as a property that will be available in 2027 ( click HERE for that link ). This will be their first property in Hawaii however, looking at their website they are well versed in luxury properties.
On the news the Developer addressed a concern about traffic and said that their plan is to have very high parking rates to discourage people from having cars and will offer shuttle service from Lihue Airport.
1,200 Acre Brush Fire In Kokee
It’s not known at this time what started the fire last Thursday on Waimea Canyon Drive. It was reported at 2:50 a.m. that morning and by 3:30 it was pretty much contained.
Nobody was hurt and not structures were lost. Both the Waimea and Hanapepe Fire Stations were on hand.
Kauai Bound Southwest Flight Investigation
I had heard about this incident last April but I couldn’t find any information, however last week more news came to light. On April 11, 2024 Southwest flight 2786 was coming from Honolulu to Lihue and experiencing some very bad weather conditions. They were flying at 1,000 feet after they aborted landing at Lihue Airport and then dropped to 400 feet from the ocean at the speed of 4,000 feet per minute. The plane then made a very aggressive 8,500 feet per minute climb and circled a bit but when it was clear that they would not be able to land, the plane flew back to Honolulu and landed without incident.
Bloomberg News obtained a memo that Southwest sent its pilots which said that the pilot had put a “less experienced pilot” in command and that the co-pilot “inadvertently” pushed forward on the control column which triggered the warning system that the plane was coming to close to the ocean. The Captain then ordered the plane to “hike thrust” which caused the aggressive incline.
Bloomberg News inquired about the incident to the Federal Aviation Administration which now has this under investigation. Southwest stated to Bloomberg News that “Nothing is more important to Southwest than safety.”
To read the Bloomberg News article click HERE
To see a video on this incident and the flight pattern as seen on KOHN 2 news click HERE
Oahu, Maui and Big Island Real Estate May 2024 vs 2023
Home and Condominium Prices and the number of sales were, for the most part, up from one year ago on every island. The two exceptions were the number of condominiums sold, on Oahu it’s down -1.21% and Kauai -7.35%. Kauai is significantly higher on home sales than the other island at 31.93% higher than last year, Maui is the next highest at 9.29%. Kauai is also the leader on the uptick for Home Median Prices at 29.55% over last year, Maui is second at 11.11%.
For condominiums the number of sales are a mix with two islands being higher and two lower, however all of the islands Median Prices are up from last year with the Big Island of Hawaii at 23.35% higher and Kauai second at 17.28% higher.
The graph is below, contact me to see how this relates to your particular area of interest.
