Greetings from Poipu! Thank you for joining me for Kauai Real Estate past weeks new listings and properties sold in this edtion of my “Monday Morning Coffee” blog. In addition to the Kauai weekly sales and listings I have three pieces of news, so we’ll get to that;
1) Kauai’s big buzz is United Airlines adding a direct flight from Denver to Lihue starting February 2008 until April 2008. This will be a Saturday only flight and is probably a seasonal flyer to see if it will wash as a new route for them. Good news for all of our Colorado visitors!
2) All eyes are on Maui now as their case against the operation of the Superferry goes before the States Supreme Court. The “1000 Friends Of Kauai” have pooled their support for the Maui court case. The Superferry has temporarily suspended their service to Kauai out of public interest.
3) The Grand Hyatt here in Poipu hosted the annual Chamber of Commerece meeting last Thursday night. There were over 300 in attendance including Mayor Bryan Baptiste and Senator Gary Hooser. I found it very informative and our Key note speakers were the noted Dr. Leroy Laney and Dr. Jack Suyderhoud. Dr. Suyderhoud focused on global economics which was informative but for the sake of space I will publish a brief synopsis on Dr. Laney’s commentary.
Dr. Laney is professor of economics and finance at Hawaii Pacific University and the economic adviser to First Hawaiian Bank. He toured Kauai for a week and gave us his assesment of our current economy and predictions for our economic future. Of the four counties Kauai was the most strongest despite accounting for less thean 5 percent of overall Hawaii economic activity, according to Dr. Laney “It’s this years Hot Spot” Some Highlights;
• Kauai’s 118 year old sugar operator Gay and Robinson are moving toward getting out of sugar production and into ethanol production.
• Real Estate has slowed and, as he states, “The declines are a good bit less than some other areas in Hawaii, they they are actually welcome on an island where home affordabiilty is a serious issue.”
• Kauai is following a very good 2006 tourism year with similar growth this year. On the rise are Cruise Ship passengar numbers, condo rental numbers and time share stays. Down slightly are hotel stays.
• Princeville shopping Center to get a major facelift.
• There are plans to make the Princeville Hotel the first St. Regis Hotel in Hawaii.
• In May the county Council passed an ordinance limiting any new retail or wholsale establishment to 75,000 square feet. This limits the “Big Box Stores”, our Costco has been grandfathered in.
And here are Kauai’s last weeks new listings and properties that closed escrow. Enjoy and please contact me if you have any questions. Have a great week! CLICK HERE….Kauai New Listings and Sales September 24 to 31
Happy Monday! I hope you all had a great week and thank you for joining me for Monday Morning Coffee as we review the headlines and New Listings and Sales for this last week.
The Superferry continued to dominate our headlines all this week. On Thursday our Governor, Linda Lingle, flew here to Kauai for a special Town Hall meeting where over 1100 citizens turned out. The meeting got off to a good start and then turned ugly when the citizens heard that the Superferry was indeed going to resume service to Kauai on Wednesday, September 26.
Due to the extreme negative outcome of Thursday nights meeting the Superferry decided to suspend their service for the time being. For the full story click here…. Garden Island Newspaper Superferry Article’>Garden Island Newspaper Superferry Article
For Kauai’s New Listings and past weeks Sales click here for a downloadable format….. Kauai New Listings and Sales September 11 to 23′>Kauai New Listings and Sales September 11 to 23
I hope you all have a great week and contact me if you have any questions about buying or selling here on Kauai!
Lynda Gill (RA)
Pacific Ocean Properties
Wow! This is a two cups of coffee cup morning because I’ve got two newsmaking headlines for you all in addition to the weekly Kauai Listings and Closings post. Historic Coco Palms, Kauai’s flagship hotel in the 1950′s and 1960′s has been shut down since hurricane Iniki in 1992. This hotel was made famous world wide by Elvis in Blue Hawaii. Several times plans had been made to resurrect the hotel and this last time looked to be the most promising, until Thursday. The developer decided to sell the resort property partly because the County has refused to allow a full scale spa. For the full story taken from the Garden Island Newspaper click here… Coco Palms Meltdown Superferry CEO John Baribaldi has given a time line for the Superferry to remain idle while the the controversal issue is being discussed in the courts, government and the general public. For the full story as reported by the Honolulu Advertiser click here…Superferry Breakdown
And the Census Says
Here are some census facts about our State that you might find interesting. My favorite is our average commuting time being 25 minutes! Despite the slowdown in real estate our median price remains strong….
Hawaii ranks third in the nation for median monthly housing costs: $1,959.
Hawaii’s median housing value is the second highest in the nation, after California, at $529,700. That’s up from $453,600 in 2005.
· Hawaii ranks first in carpooling, with 16 percent saying they rode with someone else to work.
· Hawaii is third in average household size at 2.88 people.
· The state is third in the number of households receiving some kind of retirement income, 22.2.
· Household income ranks fourth at $61,160.
· At 28.2 percent, Hawaii is second for the percentage of households with at least one member who is 65 or older.
· Hawaii ranks first among states for the percentage of Native Hawaiian and Pacific Islander residents (8.7 percent) and people whose ethnicity is exclusively Asian (39.9 percent).
· Hawaii ranks 48th in owner-occupied housing. Sixty percent live in housing owned by someone else.
· The average commuting time in Hawaii is 25.5 minutes and ranks 12th. That’s actually down from 25.7 minutes in 2005.
The American Community Survey is available at www.census.gov.
AND HERE IS THE REAL ESTATE NEW LISTINGS AND SALE FOR LAST WEEK….Kauai New Listing and Sales September 10 to the 16th
Aloha Everyone! I hope you all had a great weekend. Here on Kauai it’s a lot more quiet then it has been in the summer. Our occupancy is still good but there are couples here visiting instead of families and they are really enjoying our fantastic weather!
In addition to the weekly real estate sales report I have included here an article that was in our Garden Island newspaper about the crackdown on illegal vacation rentals on Maui. These are vacation rentals that are opertating out of the area that they are allowed to, many have done it for decades and didn’t know they were not in the “VDA” zone (Visitor Destination Area). A lot of these rentals are peoples homes that have been turned into B & B’s. This is of importance to our island because the same concern has been brought up in our own city council and the signs are this could very well happen here. When buying a property here on Kauai, or any other island, it is imperative to determine how you will be using the property and then start from the database of properties that will fill that need. I have found this to be very effective time wise as I will build the properties we will view based on my clients needs and wants. Click here for the full article. maui-vacation-rental.pdf
For the past weeks activity here on Kauai click this link for a downloadable spreadsheet.sept-3-to-sept-9.xls
Have a great week and if you have any questions your welcome to contact me.
Lynda Gill (RA)
Pacific Ocean Properties
Greetings From Poipu! Labor Day is the last of our summer holidays and the pace of the island is slowing down already. Historically our occupancy will remain high but it will be couples traveling rather then the families we’ve had all summer. The Superferry is still the hot topic as it has been halted from servicing the islands of Kauai and Maui pending a court hearing to determine if the new mode of transportation must do an environmental study before commencing service.
Here is last weeks new Listings and closed Sales. If you have any questions on Kauai Real Estate please contact me for information.aug-27-to-sept-2.xls