Kauai Home Sales

Aloha From Kauai! As evidenced by this Rainbow Shower Tree, which is located outside our office at the Kiahuna Plantation, spring is in the air! This tree cascades tiny yellow petals all day creating a lovely shower effect. The weather has been fantastic all week, we’ve had some rain but for the most part sunny weather that is not too hold or cold. As they say on KONG Radio “Lucky We Live Kauai!”

*****Kauai Real Estate*****
Activity has continued to remain steady this week. Here in Poipu our Kiahuna Golf Village neighborhood has had a lot of activity. Out of the 8 homes that were on the market 1 sold, 5 are in escrow leaving only two available. This neighborhood harbors million dollar plus luxury homes that are a mix of full time owners, part time residents and a handful of vacation rentals. If you have any questions about real estate here on Kauai be sure to contact me, for now here is an excel spreadsheet on last weeks activity: CLICK HERE

*****NCL Cruise Lines Down To One Cruise Ship*****
The Pride Of Aloha will be pulled from the Hawaiian waters May 11 2008.
NCL Cruise Lines once sailed three cruise ships around the Hawaiian waters
and has lost $250 million since 2004 largely due to their Hawaiian market.
US flagged ships must comply with stricter environmental laws and are
subject to Federal taxes burdening them with higher costs then their
foreign flagged competitors. Foreign ships capacity between Hawaii and the
West Coast jumped 500 percent since 2003. NCL is having trouble filling
both it’s ships and it is projected that the remaining ship will start to
turn a profit once the Pride Of Aloha is renamed and set to sail on it’s
new route which has not been determined yet.

*****Department of Land and Natural Resources to Auction Off Kokee
Cabins*****
The DNLR is pressing ahead to auction off it’s cabins in Kokee which are
located on State land and leased out to the current residents. A new 20
year lease is being drafted up by the Director for the DNLR and provisions
are being put into place for the bidding process. The huge concern being
out of state real estate companies and individuals will bid on the cabins
for vacation rentals. To mitigate this provisions limiting the bidding
process to people who pay Hawaii state taxes and bidding rights not to
extend to second home users are being implemented. The cabins are
considered public lands for all residents and the auction is supported by
many Kauai citizens but rules to keep it for residential local use are the
main concern.

*****450 Acres In Wailua To Be Developed For Hawaiian Homes*****
The Department of Hawaiian Home Lands is freeing up 450 acres for natives
Hawaiians to have homes making a huge dent in the current Kauai 1,500
waiting list. Kauai has the longest waiting list of all the islands and
the fewest amount of homes. It is proposed that the homesites will be on
the mauka side of Kuhio Highway and a small resort or other commercial
project on the makai side. Every dollar from the land lease commercial
side will be generated back into the home ownership opportunities for Kauai
families. Public comments are on the new venture are to be in by
February 22, 2008.

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