Kauai Real Estate Update, Unique Regency Condo Just Listed, Poipu Multi-Million Dollar Sales, Kauai Business Panel Tackles Issues

Kauai Real Estate Update, Unique Regency Condo Just Listed, Poipu Multi-Million Dollar Sales, Kauai Business Panel Tackles Issues

  • Lynda Gill
  • 06/24/24

Kauai Real Estate Update- There were two notable sales last week and both on the South Shore;  a home in Kukui’ula sold for $8.250 Million and a home on Lawai Road was sold before it went on the market for the listed price of $5.850 Million.  For a complete list of the Kauai Real Estate Activity for last week click here;  Kauai Real Estate June 17 to 23rd, 2024.   

Poipu Beach Real Estate Update- Just Listed/In Escrow Regency at Poipu Kai $995,000 (FS).
This exceptional condominium at Regency at Poipu Kai offers rare additional square footage, a third lanai, and one of only two units with this unique floor plan. Unit #112 is now available for the first time since the original purchase. As the owner's cherished full-time residence since 2004, this unit shows minimal wear and tear. This unit was only on the market for 10 days and was one of only two units in Poipu that were under $1 million.  Back up offers will be accepted. 
For a Poipu Beach fee simple current market analysis since the beginning of the year click here;  Poipu Beach Current Market Analysis

Kiahuna Plantation Real Estate Update-  Just Listed |  Kiahuna Plantation #58 $375,000 (LH)
This unit is already a popular vacation rental, has been renovated and is located in the very heart of the resort.  This is a true ground floor unit, there are no entry stairs and the lanai opens up to a grass lawn.  Located on top of a knoll with Plumeria Tree’s that shelter the lanai, you don’t even need shoes for the minute and half walk to the beach that this resort is on.  Rental income available upon request.
To find out what has Sold, was Just Listed and what has gone Into Escrow click here;  Kiahuna Plantation Current Market Analysis

Governor Settles Lawsuit Brought On By Youths
Two years ago fourteen youths brought a lawsuit against the State of Hawaii saying that their “constitutional rights to live healthful lives in Hawaii” have been violated due to the Department of Transportation (DOT) being unable to hit their greenhouse gas emissions goals since 2008.
Since June 1, 2022 the state has spent $1 million defending themselves and earlier this year the state asked for an additional $2.25 Million.  Fortunately, this all came to close last week and Governor Josh Green met with the 13 of the young people (one person dropped out of the lawsuit) to announce that the lawsuit had been settled before it went to trial. 
The settlement does not include any financial compensation but does acknowledge that Hawai’i youths have a “constitutional right to a life-sustaining climate” and has several actions that the DOT will do to achieve net-negative emissions by 2045.  

Unique Kauai Items, Fish Eye Kauai In Old Koloa Town
This store has everything from $15 dollar items on up to $1,000 or more, truly something for every budget.  This store features items from 8 local artists so not only are you getting something unique but you are supporting local residents.
My favorite piece had an interesting story behind it.  The photo was taken by “Scuba Tom” who saw on one of his boat tours a Monk Seal that was watching people as they slide down the slide off the boat, he (she?) stayed about 20 feet away and would watch people as they came into the water and then would put his fins out and follow them as they came up to the surface.  It was the cutest story and I just love the photo. 
Located in Old Koloa Town and owned a lovely couple that live close by.  If you want something unique for your property here, or to take home for a gift for you or someone else this is the place.   

Disaster Funds Approved By Biden
On April 11 a storm hit the South Shore the likes of which we don’t normally see which resulted in homes being flooded in areas of the South Shore that never thought they would need flood insurance.  Poipu got 10.59 inches, Kalaheo 12.51, Oma’o 11.26 all inside of 12 hours. 
Now it looks like people will be getting some help, President Joe Biden signed a Federal Disaster Declaration which allows for FEMA (Federal Emergency Management Agency) to release some much needed funds to a whole lot of people.  The amount is not known at this time.

Pacific Business News Hosts Business Panel 
I was among the 120 attendees at the Kauai Beach Resort to hear some interesting speakers talk about Kauai housing, lack of workers here on Kauai, sustainability of Kauai tourism and cost of living here on Kauai.  This was the first time this event has been held on Kauai.  The Panelist were; Mark Perriello from the Kauai Chamber of Commerce, Matt Beall owner & CEO of Hawaii Life, Megan Fox from Malama Kauai, Jason Thon President of Unlimited Construction and Mike Shaff Senior VP of Outrigger.
The lack of workforce and the future depletion of what we have due to people in their 60’s retiring was evident across the board.  Felt keenly by the non-profits who can’t compete with the wages that for profit companies can pay.  The answer is two-fold; working smarter and doing more with less people and the creation of affordable housing.
The recent increase in Property Taxes for Hotels and Resort properties (Vacation Rentals) is earmarked for affordable housing however, Mark Perriello pointed out that there is nothing in the legislature that will have this money going towards affordable housing in future years.  Mr. Perriello is making it his goal to get that codified into the law. 
It was reported by one of the speakers that the County is considering building “Chicken Coops” which are apartment buildings that maximize their square footage to house as many people as they can.  Good for minimum wage workers but pretty useless for middle management and families.
All road, it seemed to me, lead to affordable housing.  The lack of which is felt more keenly on neighbor islands.  The answer on how to solve this is still a work in progress.        

Work With Lynda

Speaking from experience, I am here to tell you that dreams can turn into reality with a bit of planning and the help of an experienced Kauai realtor. I'd love to share my expertise with you if you are thinking of making Kauai your future home.