Kauai Real Estate and Local News Update May 4
*****Kauai Real Estate and Local News Update*****
Our weather has turned gorgeous and it looks like we have shaken off the unually cold winter that we had. Island wide the tourist traffic has been less but the rental companies have gotten a huge amount of calls with people wanting to change their trip from Mexico to Hawaii due to the swine flu outbreak. Over the next few months we’ll see what that does to our occupancy rates.
On the real estate front it’s been a quieter week for sales but activity has been way up. For a list of all the new listings and closed transactions island wide CLICK HERE FOR AN EXCEL SPREADSHEET
*****Rental Cars Catch Fire!*****
People returning their rental cars at Alamo on Sunday evening got quite a show when 1 rental car caught fire and ignited 3 more around it. The cars were in the Alamo lot waiting for pick when one caught on fire, cause is still unknown. The Lihue Airport fire crew responded and put the fires out within minutes. Visitors at waiting in line said they could hear small explosions and it was also reported that you could smell the smoke all through the airport.
*****Coco Palms Granted Extension*****
The Kauai Planning Commission gave a three year extension to the owners of CoCo Palms which is the last resort on the island that has not been renovated from the 1992 hurricane. The deadline was 2010 and it’s been extended to 2013 provided the owners 1) Clean up the land 2) Establish a plan to manage the drainage ditch on site 3) Complete the nomination of the fish pond to the National Register of Historic Places.
Some local residents voiced their concern over the extension saying enough time has passed. The landowner sited difficult times and said they needed the extension to seek additional investors. The extension specified January 25, 2013 as the date that all construction needs to be completed.
*****Hawaii’s Leading Shipping Line Says Competitors are Unfair*****
Young Brothers, Hawaii’s leading shipping company, has plenty to say these days about a new shipping line that is starting up here in the islands. They have requested intervene status with the state Public Utilities Commission and are setting up public hearings. The Pasha Group which is based in California is being accused of “cherry picking” routes that are profitable for their shipping. Young Brothers state they are not afraid of competition but would like a level playing field as they had signed a Certificate of Pubic Convenience and Necessity which obligates them to serve the less profitable ports of Lanai and Molokai. By the new company serving only the profitable routes they will be able to have lower prices but will not serve the state as a whole.
*****Hawaii Moves to Halt Ceded Land Sales*****
A recent Superior Court ruling allows for the State of Hawaii to sell it’s lands but a new bill is being sent through that would require two thirds of both the State House and Senate to approve a sale. Given how difficult it is to have two thirds to agree to anything it’s a sure fire way to keep the State from selling formally Hawaiian Monarchy held lands.