Kauai Real Estate Update- Our Kauai Real Estate Summer exited with quite a few properties going Contingent or were Sold. For a complete list of last weeks activity island wide click here; Kauai Real Estate August 26 to September 1, 2024
Poipu Beach Real Estate Update- for the Fee Simple real estate activity in Poipu since the beginning of the year click here; Poipu Beach Current Market Analysis
Kiahuna Plantation Real Estate Update- Under Contract | Kiahuna Plantation #58 List Price $375,000 (LH). On Friday negotiations wrapped up on a listing of mine and we are now Under Contract. Located in heart of the resort unit #58 is a sweet ground floor unit with A/C and renovations. For a complete list of all the activity at the Kiahuna since the beginning of this year click here; Kiahuna Plantation Current Market Analysis
Poipu Beach Sheraton Strike
A friend who works at the Sherton in Poipu said she, along with thousands of others, received a text at 4 a.m. on Sunday morning saying that they are striking. A strike in the middle of Labor Day weekend is impactful but for Kauai it was even more so; the Kauai Marathon race ended at the Sheaton where strikers were already picketing on Sunday morning. Thousands walked off the job for the three day strike.
Local 5 has more than 5,000 members from the Sheraton, Hilton, Hyatt, Marriott & Kyo-ya where contract negotiations have been ongoing since April. The strike was limited to our Kauai Sheraton and 7 hotels in Waikiki; Hilton Hawaiian Village, Hyatt Regency, Moana Surfrider, The Royal Hawaiian, Sheraton Princess Kaiulani, Sheraton Waikiki and Waikiki Beach Marriott.
The strike on Sunday was the largest in Hawaii since 1990 when workers from 11 hotels went on a 22 day strike.
Local 5 Financial Secretary Treasurer stated; “Today’s (Sunday’s) action demonstrates our deep commitment to these islands we all call home, to our guests who deserve nothing less than to experience our ‘aloha’ so they keep coming back, and to our families — we need tourism to work for us locals and not just our mainland bosses.”
I went by there on Monday and there were two strike stations set up, one by the entrance and one at the corner of Poipu Kapili and the Sheraton Road. I spoke to the group in front of the hotel and they were very pleasant and rationally explained what they were striking for. People staying at the hotel walked by and everyone was respectful of each other. Today (Tuesday) is the last day of the strike, more news on this to follow.
Meeting Governor Josh Green
Last week I attended the Governors Luncheon at the Kauai Beach Resort and got to meet the Governor. There were 350 people in attendance which was the highest attended in 10 years. Despite the number of people there it really felt like one big Ohana. Our table ( I think ) was the fun table, one of our gals jumped up and did an impromptu hula when Mufi Hannemann and Bernard Carvalho sang “Beautiful Kauai”.
When Josh Green was Lieutenant Governor during COVID he was very much a leader, very visible and accessible both in person and on social media. He is and MD and was working in Big Island Emergency rooms prior to and during his term as Lt. Governor. When he ran for Governor, it was an easy win.
He was very interactive with as many people as he could talk to before he took to the stage. Once on stage he gave a presentation on various issues which included; the status of recovery for Lahina, the overall physical health of the state, our healthcare system, housing and homelessness and the Visitor Industry and our dependance on it and more.
I took photos of his presentation slides many of which are focused on how these issues relate to our island.
Got Cesspool? Grant Program Closes September 27th, 2024
If you have a cesspool in Kauai that needs to be converted to a septic system by January 1, 2050. The cost to do so (in today’s dollars) will start around $25K and goes up from there depending on the size of the system and the complexities of conversion.
The County of Kauai Housing Agency will be taking applications for Cesspool Conversion Grants that will reimburse up to $20K for a conversion done now. This program will end September 27th at 4:30 p.m. About 100 homeowners will be chosen on a first come first served basis and with the applicants meeting certain criteria.
To apply online and review the priority preferences click on this link; Kauai Cesspool Grant Link
Kauai Real Estate Year-To-Date 2024 vs 2023
“Price Improvements” is the buzz phrase that agents are now using when their Sellers reduce the price which is happening, a lot. And, it’s been happening all year but despite that both Kauai housing and condominium market are telling a story of growth and resilience.
With mortgage rates showing signs of softening, and the possibility of further decreases on the horizon, Kauai’s market isn’t showing any signs of cooling off. The increase in housing inventory has not impacted the number of sales or the median prices which both continue to trend upwards.
For the condominium market the number of sales are down and the Median Prices are up in every area of our island. A lower amount of sales for the condo market is not translating to a lower Median Price.
