Kauai Real Estate Update- For a complete list of all the real estate activity on the island of Kauai for the last week click here; Kauai Real Estate Activity March 25 to 31, 2024
Poipu Beach Real Estate Update- Just Listed | Oceanview Kahala $985,0000 The family of owners of Kahala 221 saw it being built in 1979 and, when it was completed, they picked the exact unit that they wanted. This is the first time this unit has been for sale in 44 years. The children of the owners spent their honeymoons here as did their children. It’s truly an incredible property and with a view that postcards are made from.
I also listed a unit at the Makahuena for $850,000 and it received multiple offers and went under contract in 3 days.
For a complete list of the real estate activity since the beginning this year click here; Poipu Beach Fee Simple Current Market Analysis
Kiahuna Plantation Real Estate Update- $50,000 Price Reduction | Kiahuna Plantation #123 stands out as perhaps the most extensively renovated condominiums within the resort. The renovation shows a meticulous attention to detail and a commitment to plantation style design with modern conveniences. Every feature is thoughtfully designed to create an extraordinary living experience making this condominium a favored vacation rental among discerning guests and a cherished second home option. To see a video of this lovely unit click here: Kiahuna Plantation #123
For a complete list of all the real estate activity since the beginning of this year at the Kiahuna click here; Kiahuna Plantation Current Market Analysis
Coco Palms Restoration Underway
After over 30 years the Coco Palms is being renovated. It’s hard to believe that the shell of the resort that we’ve all been driving past for decades will be transformed. Excavators and cranes are there now removing the structures that stand there now.
Coco Palms originally had 400 rooms, the new resort will have 350 and will include the restoration of the Lotus, Flame and Seashell restaurants. The new owners are embracing the Hawaiian culture and will have cultural based activities and tours. During construction there will be 300 full-time jobs and upon completion 400 full-time jobs when hotel operations start.
The completion date is sometime in 2026.
Kauai The First In State To Implement “City Protect”
The Kauai Police Department has implemented a new program that will hopefully help crimes being solved sooner. Here is how it works; Residents and Business Owners can register their security cameras with KPD. In the event a crime happens the police will have a map of where security cameras are the contact information of the owners. Before police had to go door to door slowing down the process of gaining access to camera footage.
At no time will the police have access to the cameras and those that have registered are not obligated to provide camera footage. Participants can opt out of the program at any time. If you want to participate call 808.241.8104 or visit; https://cityprotect.com/agency/kauaipolicedepartment
$25 Visitor Fee Defeated
This idea is not a new one, in fact it’s the third time this has been defeated. The idea is one of charging tourists an extra fee that will go towards protecting Hawaii’s environment. This last time around it passed the House but died in Senate hearings.
Kauai Real Estate 2024 vs 2023
The Kauai housing market continues on its bullish run as buyers continue to shop through the inventory that accumulated in 2023. There is a noticeable uptick in the number of sales and prices and not just in the lower end, we’ve had a fair number of multimillion dollar sales this year. Of the 88 homes sold only 21 were under a million which is solely due to lack of inventory. With the rest 29 were between $2M on up to $18M.
Condominium sales are not seeing the same type of sales activity however this has not impacted the prices which continue to increase. In looking at just March of 2024 and comparing it to March of 2023 the sold to the original list price, meaning before any price reductions were done, was 98.7% and the year before it was 94.80%. The days on market have increased for condominiums.
Below is a graph showing the activity, call me to see how this relates to your particular area of interest.
