Kauai Real Estate and Local News Update

Body Found in Kalalau Valley

A week ago last Sunday Inter-Island Helicopters was doing a typical tour of the Kalalau Valley when the saw that “SOS” had been scrawled on the sand by the campers in the valley.  They notified the Police Department who sent a rescue specialist to the site.  One of the campers said that he had hiked back into the valley because a man who is in his late 50’s was overdue to come back.  Once there they found him dead in his sleeping bag.  The remains were turned over to the Kauai Police Department and on Wednesday the man was positively identified as Rodney Ahn, 58.  Rodney was a surfer and a waiter here on the South Shore before moving to the north shore.

Have Hands and Car Worked on Simultaneously!

Hair Razors and King Auto Center have teamed up to help the woman of Kauai multi task.  On Fridays between 9 and 1 you can have a technician working on your car and a nail technician working on your fingernails.  This program has been in existence for the last two weeks and is a hit!  The dealership and salon are experimenting with the times that work best.

Hawaii Hotel Occupancy Improves

Hawaii hotel occupancy overall improved 78.4 % February 6 to Feb. 13, this is a 2.1 percentage point increase as compared with the same week last year.

Room rates are still down but the numbers increase is encouraging and the first step toward stabilizing and raising rates.

Occupancy and room rates for the four main Hawaiian islands were as follows:

• Oahu occupancy was up slightly to 82.9 percent, while room rates slid 7.7 percent to $152;

• Maui occupancy jumped 9.1 percentage points to 81.5 percent, while room rates dipped 7.2 percent to $235;

• Kauai occupancy slipped 1 percentage point to 68.1 percent, while room rates dropped 6 percent to $189; and

• Big Island occupancy eased 2.1 percentage points downward to 64.5 percent, while room rates were off 2.1 percent to $170.

Nationwide hotel occupancy was down 1.3 percentage points to 53.7 percent

Hawaii Has Highest “Well-Being” in the U.S. for 2009

 “Individuals wanting to increase their personal well-being and enjoy the highest quality of life in America might want to consider relocating to Boulder, Colo. or the state of Hawaii,” according to the Gallup-Healthways Well-Being Index.

The survey questions were designed to measure how respondents are faring in all aspects of their lives: physically, emotionally, socially and professionally.

The top 10 states for well-being and their survey scores were Hawaii (70.2), Utah (68.3), Montana (68.3), Minnesota (67.8), Iowa (67.6), Vermont (67.4), Colorado (67.3), Alaska (67.3), North Dakota (67.3) and Kansas (67.2).

The bottom five states were West Virginia (60.5), Kentucky (62.3), Arkansas (62.8), Ohio (63.6) and Nevada (63.8).

The top 10 cities for well-being were Boulder (72.5), Holland, Mich. (71.0), Honolulu (70.8), Provo, Utah (70.6), Santa Rosa, Calif. (69.4) Santa Barbara, Calif. (69.3), San Jose, Calif. (69.2), Washington, D.C. (69.1), Ogden, Utah (69.1) and Oxnard, Calif. (69).

This was a national telephone survey completed by 353,849 adults between Jan. 1 and Dec. 31, 2009.

Waimea Town Celebration

Much like the Koloa Plantation Days that we have here in July the town of Waimea is alive with thousands of people turning out for the Waimea Town Celebration.  The weather has been perfect for residents and tourists alike to enjoy canoe races, lei contests, robotic show, music and much, much more.  Kirk Marois owner of Island Taco, Waimeas newest take out eatery, has reported record business and his team is staying super busy keeping up with the thousands of tourists.  Additionally the tour boats have been packed here on the south side enjoying booming business due to the fantastic weather we have been having.  

Kauai Gets Higher Bond Ratings Across Three Categories

Kauai Mayor Bernard Carvalho Jr. said the county has received record high credit ratings from three bond rating companies.  That means the interest rate for a new $120 million bond issuance will be lower than it would have been with the previous ratings and that will translate to a savings of $3 million in gross interest.  Moody’s Investors Service announced the county received an Aa3 rating, up from A1 and Standard & Poor’s Rating Services raised its rating and underlying rating for Kauai from AA- to AA, while Fitch Ratings assigned an AA- rating to the county and upgraded its general obligation debt to AA- from A+. 

Our market also looked good this week, here are the new listings and closed transactions for last week.  For an excel spreadsheet CLICK HERE

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