Monthly Archives: December 2011

WAILUA GOLF COURSE READY TO HOST USGA PUBLIC LINKS GOLF CHAMPIONSHIP

The Wailua Golf Course, County of Kauai owned, is now ready for a championship tournament, states Larry Gilhuly, USGA Northwest Director.  His turf advisory went on to say that the condition of the greens is superior to many major resort courses in Hawaii.

In large part this is due to the replacement of existing grass to Seashore Paspulum,  a special grass designed for seashore golf courses.

Kauai golfers have long known Wailua Golf Course is an economical and outstanding track.

Rates start at $10 for seniors, and a small additional amount for carts.  Owners of Kauai real estate possessing a valid Hawaii driver’s license enjoy these incredible rates, and a very challenging course.

Courtesy of The Garden Island newspaper, by Dennis Fujimoto, 11-25-11

HAWAIIAN AIRLINES OFFERS SETS OF HEAVILY DISCOUNTED COUPONS

As reported in Pacific Business News Online Dec 13, 2011, Hawaiian Airlines, essentially the only major air carrier in Hawaii for interisland air travel, announced the availability of various sets of coupons, prepaid, which seem to significantly reduce interisland travel costs for kama’aina.

For instance, if you owned Kauai real estate, had a Hawaiian driver’s license, and belonged to the Hawaiian Airlines Frequent Flyer program, you would be entitled to access these savings. Read more here:

http://www.bizjournals.com/pacific/blog/morning_call/2011/12/hawaiian-airlines-offers-interisland.html?ana=e_lulu_rdup

One imagines if successful, mainland flights might be added at some future time.

Behind Existing-Home Sales Stats

The existing-home sales report is released on or near the 25th of each month. Behind the stats, you will find four important factors that help explain how existing-home sales are configured.

It is critical for the reader to understand that national statistics are gathered, usually, from the major metropolitan areas on the mainland, and thus relate only minimally if at all to the state of Hawaii and Kauai real estate.

Why existing-home sales are calculated on a seasonally adjusted annual rate. Seasonally adjusted annual rates are used in reporting existing-home sales data to factor seasonal variations in resale activity. For example, home sales volume is higher in the summer than in the winter, primarily because of differences in the weather and family-buying patterns in the U.S.

How seasonally adjusted annual sales rates are calculated. When calculating seasonally adjusted annual rates, the sales rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months.

Why median prices are compared with the same period a year earlier. Median prices in the existing-home sales report are not calculated on a month-to-month basis because seasonal changes and family-buying patterns in the composition of sales data can distort the median price. As a result, median price comparisons for existing-home sales are compared with the same period a year earlier. This is viewed as a more accurate and valid comparison of existing-home prices.

Why condo prices tend to be high. In a given market area, condos typically cost less than single-family homes. But in the existing-home sales report, condo prices tend to be high because there’s a concentration of condos in high-cost metro areas. In fact, the national median condo price — which excludes the concentration of condos in high-cost metro areas — is usually lower than the median single-family price.  Relating to Kauai real estate, lenders are reluctant, and often refuse, to make mortgage loans on condos that contain time shares (even a small proportion), a front rental desk, or vacation rental units.

Courtesy of Doug Steiner, Prospect Mortgage 808 635 9536 on Kauai and added to by Tom Rice, RS, CENTURY 21 All Islands Kauai, to better inform the reader about the special status of Kauai real estate.