Kauai Real Estate and Local News Update May 18
*****Hawaii Foreclosures Down in April*****
The state of Hawaii got some good news on the foreclosure war zone for the
month of April. Statewide our foreclosure listings were down to 684 from
724 in the month of March. Of the four counties Honolulu had almost half
of those at 280 but overall had the lowest with 1 foreclosure filing per
1,154 households. So how did the rest of the islands do with their
foreclosure filings?
The Big Island 184 per 422 households
Maui 158 per 411 households
Kauai 52 per 561 households
We had another week of a good number of closed transactions! For an excel spreadsheet of what came on the market and what closed CLICK HERE FOR SPREADSHEET
*****Confessed Fraud Artist Found Dead*****
James Lull was a no show at his hearing on Oahu last Thursday and the
reason became clear on Friday. He was found dead behind the wheel of his
car in Yakima, Washington but some of his victims say it would not be
beyond him to fake his own death. James Lull had confessed to having
defrauded 50 people, most of them Kauai residents, out of over $20 million
dollars. Lull was not as co-operative as he said he would be in his plea
agreement and was out on $100,000 dollar bail. Lull had filed for
bankruptcy and the courts had been assigned to finding his assists and were
having a hard time doing so. It was hoped that Lull would become more
co-operative but if it is indeed Lull behind the wheel of his truck that
went over a cliff in Washington there will be no information coming from
him. The courts say this will not stop them from searching for his assists.
*****Scholarship Funds Taken at Break-In at Kapa’a High School*****
The air-conditioner on the floor was the first thing noticed when a teacher
arrived at Kapa’a High School on Monday morning. The thieves had pushed in
the air-conditioner and went through the room but only took the scholarship
money that was going to be deposited that day.
*****Hilo Hatties in Trouble*****
A U.S. Bankruptcy Court judge is allowing the owner of Hilo Hatties to run
the company until at least late June. A committee of unsecured creditors
asked for a neutral party to assume control of the struggling iconic store
but failed in their efforts. Hilo Hatties planned to open a $6 million
dollar flagship store in Waikiki but failed to secure funding, they plan
instead to open a series of smaller stores in heavily traveled tourist
routes.