Kauai Real Estate Update- For a complete update on what Sold, New Listings and what went Under Contract last week on the island of Kauai click here; Kauai Real Estate Update March 18 to 24, 2024
Poipu Beach Real Estate Update- Sold | Prince Kuhio 332 List price $659,900 Sold Price $590,000 (FS). This top floor corner unit has a lovely view of the pool and is located well off the main road. For a complete list of all the Fee Simple real estate activity since the beginning of the year click here; Poipu Beach Fee Simple Current Market Analysis
Kiahuna Plantation Real Estate Update- Lots of activity at the Kiahuna last week! After our price drop on unit #6 we got a full priced offer for $595,000 (LH). I represented the Buyers on unit #56 which is listed at $375,000 (LH) and our offer was accepted. Unit #9 was listed at $875,000 (LH) and it sold for $840,000 (LH) and a Two Bedroom Two Bath unit 212 went on the market and got an accepted offer right away, list price $875,000 (LH). For a complete list of all the activity since the beginning of this year click here; Kiahuna Plantation Current Market Analysis
Kauai Inmate Escapes Jail For- Ten Minutes
It was an escape from jail but a pretty short one, clearly this did not go as planned. Around 1 a.m. on Friday morning an inmate escaped the Kauai Community Correctional Facility which is located on Kuhio Highway across from the Wailua Golf Course. As he was running across the highway he was hit by a car in the southbound lane. The driver of the dark colored sedan took off and was last seen making a U-turn towards Kapaa.
The inmate was taken to Wilcox with serious injuries. How the escape happened is being investigated and Police are also looking for the hit-and-run driver.
Repurposing Housing In Kapaa Almost Quadruples Affordable Units
Kapaa Homes, which were constructed in 1966, are 18 buildings consisting of a total of Thirty-Six 1, 2 and 3 bedroom units. The County of Kauai is going to refurbish them into 124 units starting in late 2025. This is another example of the current trend of repurposing existing buildings to address current needs rather than the more expensive and time-consuming route of new construction. Construction will start in late 2025 with a completion date of 2027.
Current residents will work with Relocation Professionals and will pay the same amount of rent that they are paying now. Provided the current residents are “in good standing” they will have priority to return and pay the same amount that they did before.
Qualifying residents will show that they earn between 30% and 60% of the Median Income. There will be a community room, barbecue areas, a playground, central laundry and a community garden.
For more information go to; kapaa-homes.com
Where Is The Easter Bunny On Kauai?
This Sunday is Easter and if you are on island here are some events;
Wednesday: Easter Egg Hunt At Kukui’ula Shopping Village. Registration starts at 4:30 and Egg Hunting (by age group) follows along with face painting from 4-6.
Friday: Meet the Easter Bunny with opportunities to take selfies. Dancing encouraged! No reservations needed. This event is from 5:30 to 7:30. Visit www.theshopsatkukuiula.com.
Saturday: Easter Egg Drop. At Vidinha Stadium a helicopter will drop 10,000 Easter Eggs. Sponsored by Hope Collective Church and you can start getting there at 9 a.m. with the egg drop at 9:30 (weather permitting). There will be music, prizes and free food. Visit www.HopeCollective.church
Hotel Occupancy and RevPar Increases In State, February 2024
The overall Hawaii hotels averaged 79.8% occupancy in February 2024 which is 3.8% higher than February 2023 occupancy rate of 76%. RevPAR (Revenue Per Available Unit) was $297 which is a .8% Increase.
Maui Hotel numbers were impacted by the August fires however their RevPAR was the highest given the demand and lower inventory. Kauai was second behind Oahu in a higher occupancy and RevPAR rates. Here are the numbers:
February 2024 vs February 2023
Kauai- RevPAR $335 up 8.9% from 2023. Occupancy 78% up 4.3% from 2023.
Oahu- RevPAR $238 up 13.5% from 2023. Occupancy 84% up 5.2% from 2023.
Maui- RevPAR $403 which is -13% down from 2023. Occupancy 74.2% up 3.3% from 2023
Big Island of Hawaii- RevPAR $330 up 2.3% from 2023. Occupancy 73.2% down -2.5% from 2023.
