Kauai Real Estate Update- We had a large amount of sales last week and a $23 Million Dollar home that was just listed on the North Shore of Kauai. This is normally a quieter time of year so it was surprising to see the large amount of properties that went Under Contract and Sold. Here is the full list of activity for last week island wide; Kauai Real Estate Activity September 9 to 15, 2024.
Poipu Beach Real Estate Update- For a list of the Fee Simple real estate activity since January in Poipu Beach click here; Poipu Beach Fee Simple Current Market Analysis
Kiahuna Plantation Real Estate Update- Just Listed/Under Contract Kiahuna Plantation unit #142 List Price $695,000 (LH)
Kiahuna Plantation 142 features cathedral window panes, open beam ceilings, and a third lanai with storage—making it one of fewer than 10 units with these unique elements. Sold before it was listed, I matched my client with this two-bedroom, two-bath condo just a 90-second walk to the beach. Situated off the road and near parking, it maintains a secluded feel. With only four units in the building and two-bedroom end units, it offers an added layer of privacy.
Back up offers are being accepted.
For a complete list of all the real estate activity at the Kiahuna since the beginning of this year click here; Kiahuna Plantation Current Market Analysis
Challenges Of Living On Kauai
A buyer recently asked me a really great question; “What are the challenges of living on Kauai?” Interestingly enough, one of those challenges we had to contend with this last weekend; getting and maintaining a particular brand of car.
The joke is; the Toyota Tacoma is the Hawaii State Vehicle and that is not too far from the truth, especially here on Kauai. What you drive, and how you maintain and fix your car, is a bigger consideration here on Kauai.
I have a friend who bought an all-electric Mini Couper, to get it serviced under it’s warranty he needs to ship it to Oahu. That is a pretty extreme example but, one to make note of. If you haven’t noticed we don’t have a lot of specialty cars here on Kauai, this is due to not having a Dealership for it, the amount of rural roads we have and lack of options to service and warranty the some brands.
We had a Honda and a Nissan when we first moved over here and had no trouble getting them serviced with a great mechanic (who has since retired). We both switched to Toyota some years ago. I fell in love with the Lexus RX but to see and drive one we had to fly to Oahu. The good news is our Kauai Toyota Dealership will service the Lexus and this was a big part of my decision to buy a Lexus.
As far as problems go this is a pretty nice one to have and make sure to do your due diligence on your choice of a Kauai car.
Hanapepe Massacre of September 8th, 1924
I didn’t know that a massacre happened one-hundred years ago in our sleepy town of Hanapepe. It’s so hard to imagine it of this little town that is now known for its Friday Night Art Walks but, a hundred years ago, it was a bustling mecca and the site of a very dark time in Kauai’s history.
On September 8th, 2024 the Hawaiian Islands were a territory and heavily segregated. A Filipino Sugar Plantation Strike was happening on all the islands. Two non-striking Ilocano workers from a different sugar plantation biked into Hanapepe to buy shoes. They were captured by Filipino Stricker’s and held against their will at the strike camp.
The Kauai Sheriff was notified but was not successful in getting the prisoners released. The next day the Sheriff returned with police to “arrest” the captured men as a legal way to get them released which, they successfully did. But the strikers followed the two men and police as they were leaving and a fight broke out which escalated and was soon out of control. The result was 16 Filipino strikers, 4 policemen, 3 Hawaiians and 1 Chinese that were killed.
The National Guard was brought in to get Kauai under control and over a hundred strikers were arrested. It would take 10 more years and many more strikes between 1937 and 1958 for an interracial union to form that had enough power to negotiated worker’s rights in Hawaii.
Oahu, Maui and Big Island Real Estate Year-To-Date August 2024 vs 2023
Every island is telling the same story;
- Median Prices and Number of Sales for homes are Up
- Sales for condominiums are Down
- Median Prices for condominiums are Up
With interest rates softening and the belief that rates will go down again soon, I expect that the condo sales will start to go up.
Despite these numbers I am seeing price reductions for homes and condominiums that started early in the year. Sellers are still getting used to Buyers being more selective, having slightly more inventory and are highly price sensitive. The Buyers price sensitivity is a result of the higher cost of borrowing but, they are, and have been, buying.
Below is a chart for all of the islands Year-To-Date comparing the first 8 months of this year to the same time last year.
Contact me if you have any questions on how this impacts your particular area of interest.
