Kauai Real Estate and Local News Update April 6
*****Kauai Real Estate News*****
You’ll notice a sizable uptick in the number of closed transactions for last week. The renewed market interest that we saw in February will start to surface now with closed their escrows closing, hopefully this trend will continue. New residential lots which are located near Koloa Town called Koloa Creekside came on the market. These lots are in the 8,559 square foot range up to 1.83 acres. For an excel spreadsheet of what came on the market and what closed CLICK HERE FOR SPREADSHEET
*****Kukui’ula Shopping Village Offers a Sneak Peek*****
Among the news of tourism in a decline and unemployment numbers rising a welcome bright spot hit the Poipu area on Tuesday evening. The Kauai Chamber of Commerce After Hours program had 250 people in attendance to view the new Kukui’ula shopping center which will offer high end shopping here on the south shore and will provide 250 new jobs. The center is just beautiful and serves as a prestigious landmark for the entrance into Poipu. 
The shopping center will be hosting a job fair around the date of its opening which is set to be mid-summer. Just some of the retails stores will include a Merrimans Café, Quiksilver Surf Shop, and a Lappert’s Ice Cream.
*****Lighting Up in Hawaii?*****
Here in Hawaii if you smoke you just might choke on the new tax that is being proposed on cigarettes. Following on the heels of a .62 cent Federal tax that went into effect on Wednesday the state of Hawaii is trying to push through an additional .40 cent tax. The additional tax money will go towards Hawaii’s cancer research. Hawaii has some of the highest taxes on cigarettes in the nation, a pack of Marlboro Reds is $7.80 per pack and Camel Lights are $7.39.
*****Hawaii Stimulus Bill Offers Tax Breaks*****
Senators Daniel Inouye and Daniel Akaka enacted economic stimulus tax breaks and Hawaii residents should see an additional $333 million in tax breaks in their paychecks during 2009 and 2010 when the IRS enacts the new withholding rules. There will also be $48 million in guaranteed home loans to rural families; those loans will be administered by the U.S. Department of Agriculture. But as they give they are also looking to take. Leading Democrats are wanted to increase the state income tax to those that are making over $150,000 a year. This new tax will be in attempt to balance out the shortfall in the state’s budget.
*****State Still On the Hook for Ka Loko Dam Breach*****
Two out of the three counts levied against the State of Hawaii have been dismissed but Judge Kathleen Watanabe said the state remains potentially liable as the owner of the Ka Loko ditch which feeds into the Ka Loko Reservoir. The dam broke on March 14, 2006 sending a torrent of water that swept several homes off their foundations and killing 7 people. Wrongful death suites have been filed against the state and current or former landowners, one being the much publicized James Pfluegaer who was also criminally charged with being a direct cause to the dams’ failure. A hearing and motion are set for April 21 and 22.