Monthly Archives: May 2011

Statistics Show Vacation Homes on Kauai Surge

According to prominent real estate market analyzer, Rismedia, vacation sales on Kaua’i have surged year to date.  For example Kaua’i real estate sector ‘Residential’ is up 25.7% from the same period in 2010.  Condominium sales are up 18.18%, and vacant land is up 45.45%.

This is good news for baby boomers and others wishing to invest, or live full or part-time on Kaua’i, because during this same period in 2011, median prices for residential only rose a paltry $12,000 (2.71%) while condominium median prices fell 21.80%

Why this divergence?  In large part lenders are unwilling to lend if there is a single rental unit, or front desk, or time share, reflecting a very conservative ‘once burned, twice shy’ stance.  Because of this, condo sellers lower prices to attract cash buyers.  There are signs that some mortgage brokers are loosening up these stringent condo requirements as the economy shows signs of improvement.

 

YOU’RE GOING TO LOVE KAUAI

Once again a national magazine features great stories about Kaua’i, in this case Sunset magazine, quoted in part that “[Kaua’i] is the most beautiful place on earth.”  The helpful article covers both South and North shores, with photos of the iconic St. Regis Princeville Resort showing the gorgeous pool.  In the background is world class Hanalei Beach and Bay, and in the distance Mt. Makana (better known from the movie South Pacific as Bali Hai).

Many local sites and restaurants are also very favorably described. Those who own Kaua’i real estate would agree completely, but will also have their own favorite water adventure, scenic view places, restaurants, and activities.

Courtesy Sunset magazine, May 2011, by Katie Tamony

Kauai’s Makai Golf Course in Top 5

The latest issue of National Geographic Traveler lists their Top 5 Golf Settings.  No surprise that Kauai’s newly renovated Robert Trent Jones, Jr. Makai Golf Course in Princeville is among them.  Those who own Princeville, Kauai, real estate can play this world class course, and others nearby, for about 1/3 of the visitor price.

Courtesy of National Geographic Traveler, May/June 2011, page 43, by Shivana Vora

 

Kauai Pet Quarantine

If you are considering Kauai real estate, and have a pet, it is state law that a specific quarantine procedure be followed and documented.  Happily, Kauai has a beautiful, state-of-the art Humane Society (KHS) that will assist you in the process.  By following the procedures, you can be re-united with your pet in minimal time and inconvenience.

Here are some Frequently Asked Questions (FAQs)

 

  1. Why have quarantine?  Hawaii has no rabies. This program prevents rabies from entering the state.
  2. How long is the quarantine? Without advance preparation by, say, the mainland vet you use, and lacking the expert advice of KHS, it can last 120 days and be costly.  However…
  3. You can qualify for our Five Day or Less Quarantine program where your pet can be released at the airport!
  4. What are the fees?  Currently, $400 per pet and additional fees depending on timing and preparation.  There are also fees due to the state.
  5. How do I qualify my pet?  There are legal procedures to be followed, and the Kauai Humane Society, at 808 632 0610, can provide this information.

These standards will be described in detail by KHS, and the necessary procedures and protocols will be provided.  So, buying Kauai real estate and bringing your much-loved pet(s) over can be accomplished.  This Blog is too short to include all the details, so call KHS, a wonderful, helpful team.

 

Positive Changes in Kauai Real Estate Sales in First Quarter

Pacific Business News, April 15 this year, reports positive first quarter changes in Kauai real estate sales.

For single family homes, median prices were generally stable, rising 2.7%.  Number of sales went from 76 to 91, up 20%.

Condo median sale prices went down 22% from $345,000 to $270,000, but number of sales rose 18% from 55 to 65.

This comparison was to the first quarter of 2010.  Many of these properties, especially condos, have been distressed (short sales, foreclosures, and REO’s – bank owned properties being shed).

These changes support what we have been advising for months: prices may have bottomed out and some major property sectors are rising.  Loan rates remain at near-historic lows.

Tourism is up, and lots more visitors want to see properties.  Five years from now you may say, ‘Gosh, I missed it again.’  Kauai real estate in 2011 looks like the right time to make your move.