Princeville condo update for the week of August 19 to August 25

Aloha,

We had a reasonable amount of activity last week with several new listings coming to market as well as a few that finally went into escrow. A new 3 bed 1.5 bath Hale Honu unit 1A came on the market at $485. This unit has upgraded appliances as well as pergo flooring in the living and kitchen area. You may recall that Hale Honu unit 10B, also a 3 bed 1.5 bath was originally listed at $475K then dropped to $425K before going into escrow on 7/31.

Pali Ke Kua 236, a leasehold unit, came on the market at $530K. While there are tremendous tax benefits to a leasehold property (you can write off the HOA fees as well as the leasehold rent) with HOA fees at $575 and the lease rent at $700+ per month, you need to have quite a bit of income that needs sheltered to be able to afford these fees on top of your mortgage, taxes and insurance. Here are the other PKK Leasehold units currently on the market. You may notice that unit 238 has been on the market 451 days, and was originally listed for $699K:

174822 T A 451 4-5-4-12-9-28 LH $350,000 Pali Ke Kua Iii #238 993 #238 1/1.5
200136 T A 5 4-5-4-12-9-26 LH $530,000 Pali Ke Kua Iii #236 1,135 #236 2/2.0
197847 T A 58 4-5-4-12-8-24 LH $649,000 Pali Ke Kua Ii #130 1,100 #130 2/1.5
192740 T A 167 4-5-4-12-5-28 LH $695,000 Pali Ke Kua Incr I, ii, iii #210C 1,127 #210C 2/2.0

Here is your weekly update:

Copyright 8/26/2007 by Hawaii Information Service

NEW LISTINGS

199866 T A 6 4-5-4-5-27-1 FS $485,000 Hale Honu #1A 1,085 #1A 3/1.5
200136 T A 5 4-5-4-12-9-26 LH $530,000 Pali Ke Kua Iii #236 1,135 #236 2/2.0
200223 T A 3 4-5-4-5-24-40 FS $819,000 Nihilani At Princeville Resort #14A 1,800 #14A 3/2.5
199811 T A 5 4-5-4-5-39-191 FS $975,000 Cliffs At Princeville #9201 963 #9201 1/2.0

CONTINGENT SALES

189724 T C 207 4-5-4-5-18-25 FS $475,000 Puamana #7B 1,532 #7B 2/2.0
197467 T C 141 4-5-4-5-30-10 FS $589,000 Princeville Mauna Kai #F20 1,478 #F20 3/2.0
199483 T C 144 4-5-4-12-9-15 FS $825,000 Pali Ke Kua Iii #136 1,135 #136 2/2.0

SALES

152041 T S 28 4-5-3-6-22-27 FS $1,650,000 Kaiulani Of Princeville #27 2,873 #27 3/3.5
SOLD 8/21/2007 for $1,652,100 (CNV) DOM 28
154054 T S 104 4-5-3-6-22-28 FS $2,050,000 Kaiulani Of Princeville #28 2,873 #28 3/3.5
SOLD 8/20/2007 for $2,117,820 (CASH) DOM 104

EXPIRED

188545 T X 255 4-5-3-6-22-54 FS $1,700,000 Kaiulani Of Princeville #54 2,479 #54 3/3.0
188546 T X 255 4-5-3-6-22-55 FS $1,700,000 Kaiulani Of Princeville #55 2,479 #55 3/3.0
188543 T X 255 4-5-3-6-22-52 FS $1,750,000 Kaiulani Of Princeville #52 2,479 #52 3/3.0
188529 T X 255 4-5-3-6-22-1 FS $1,800,000 Kaiulani Of Princeville #1 2,843 #1 3/3.5
188544 T X 255 4-5-3-6-22-53 FS $1,800,000 Kaiulani Of Princeville #53 2,443 #53 3/3.5
188530 T X 255 4-5-3-6-22-2 FS $1,850,000 Kaiulani Of Princeville #2 2,843 #2 3/3.5
188536 T X 255 4-5-3-6-22-3 FS $1,900,000 Kaiulani Of Princeville #3 2,843 #3 3/3.5
188538 T X 255 4-5-3-6-22-7 FS $1,950,000 Kaiulani Of Princeville #7 2,864 #7 3/3.5

WITHDRAWN

191649 T W 188 4-5-4-5-24-40 FS $829,000 Nihilani At Princeville Resort #14A 1,800 #14A 3/2.5

PRICE CHANGES

185798 T A 314 4-5-3-11-1-14 FS $885,000- Villas On The Prince #14 1,737 #14 3/3.0
196725 T A 79 4-5-4-5-3-19 FS $427,000- Princeville Paniolo #204 1,058 #204 1/2.0
193146 T A 152 4-5-4-15-21-37 FS $429,000- Sandpiper Village I #137 1,042 #137 2/2.0
173568 T A 501 4-5-4-5-17-15 FS $587,000- Alii Kai Ii Hanalei #9G 1,037 #9G 2/2.0
183283 T A 377 4-5-4-5-23-66 FS $609,000- Plantation At Princeville #1712 1,153 #1712 2/2.0
195533 T A 111 4-5-4-5-23-58 FS $623,000- Plantation At Princeville #1512 1,153 #1512 2/2.0
198758 T A 37 4-5-4-5-24-8 FS $699,000- Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
194901 T A 118 4-5-4-5-24-85 FS $739,900- Nihilani At Princeville Resort #29A 1,874 #29A 3/2.5
197296 T A 69 4-5-4-12-8-5 FS $825,000- Pali Ke Kua Ii #119 763 #119 1/1.0
198480 T A 34 4-5-4-5-24-13 FS $850,000- Nihilani At Princeville Resort #5A 1,874 #5A 3/2.5
172114 T W 541 4-5-3-11-1-28 FS $975,000+ Villas On The Prince #28 1,800 #11-28 3/3.0

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Nihilani 14A shows both as withdrawn and active. The seller first withdrew the unit then relisted with a different agent, dropping the price $10K. As for the Cliffs, unit 9201 that came on at $925K, is one of the best locations, on the end of building nine which offers fabulous ocean view from both within the unit and the lanai. Unit 9102, ground floor in the same building is listed at $910. With 7202 recently closing for $575, which also has ocean view, although not as dramatic as the building 9 units, it will be interesting to see how buyers respond to these unit. You really can’t beat the view from 9201 unless you are able to obtain a unit in building 8, which in my opinion, is the best location in the complex.

The two Kaiulani condos that closed were pre-sale units as are all the ones that show as expired. I’m sure they’ll come back on the market shortly. It’s nice to see three condos go into escrow this week. Overall, Princeville condos are faring better than homes in terms of attracting buyer interest. Right now, there are 20 condos in escrow, not including the Kaiulani pre-sale units. Here they are: (There are 139 condos currently listed.)

Copyright 8/26/2007 by Hawaii Information Service

196335 SH C 94 4-5-4-6-1-42 FS $245,000 Villas Of Kamalii #42 1,825 #42 3/3.0
195591 T C 110 4-5-4-5-27-20 FS $425,000 Hale Honu #10B 1,085 #10B 3/1.5
178630 T C 451 4-5-4-5-39-72 FS $425,000 Cliffs At Princeville #3204 917 #3204 1/2.0
189724 T C 207 4-5-4-5-18-25 FS $475,000 Puamana #7B 1,532 #7B 2/2.0
196541 T C 45 4-5-4-12-10-25 FS $565,000 Emmalani Court #413 952 #413 1/2.0
193594 T C 123 4-5-4-12-10-30 FS $579,000 Emmalani Court #423 952 #423 1/2.0
192373 T C 175 4-5-4-5-15-1 FS $589,000 Paliuli #1 926 #1 2/2.0
197467 T C 141 4-5-4-5-30-10 FS $589,000 Princeville Mauna Kai #F20 1,478 #F20 3/2.0
188890 T C 244 4-5-4-5-23-17 FS $595,000 Plantation At Princeville #511 1,153 #511 2/2.0
184227 T C 296 4-5-4-5-39-107 FS $598,000 Cliffs At Princeville #4303 1,137 #4303 2/2.0
185461 T C 326 4-5-4-5-39-96 FS $639,000 Cliffs At Princeville #4202 917 #4202 1/2.0
180015 T C 430 4-5-4-5-4-18 FS $650,000 Ka’eo Kai Ph I #8B 1,498 #8B 3/3.0
190646 T C 207 4-5-4-5-24-82 FS $697,000 Nihilani At Princeville Resort #28A 1,412 #28A 2/2.0
195704 T C 92 4-5-4-5-39-114 FS $739,000 Cliffs At Princeville #4310 1,281 #4310 2/2.0
168753 T C 632 4-5-4-12-5-5 FS $795,000 Pali Ke Kua Incr I, Ii, Iii #105A 717 #105A 1/1.0
199483 T C 144 4-5-4-12-9-15 FS $825,000 Pali Ke Kua Iii #136 1,135 #136 2/2.0
193915 T C 144 4-5-4-6-1-56 FS $925,000 Villas Of Kamalii #56 1,761 #56 3/3.0
191939 T C 181 4-5-4-6-1-45 FS $954,000 Villas Of Kamalii #45 1,825 #45 3/3.0
188034 T C 260 4-5-4-11-3-13 FS $1,399,000 Hanalei Bay Resort #C15 1,705 #C15 3/3.0
193436 T C 148 4-5-4-12-11-1 FS $1,499,000 Puu Poa #101 1,359 #101 2/2.0

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

By contrast, these are 51 PV homes on the market with 3 in escrow: (6%)

Copyright 8/26/2007 by Hawaii Information Service

193401 RS C 110 4-5-4-23-59 FS $765,000 3788 Milimakani Pl 7,045 sqft 2,060 3/2.0
198834 RS C 35 4-5-4-10-31 FS $1,825,000 5254 Honoiki Rd 10,174 sqft 2,729 4/3.5
172266 RS U 490 4-5-4-13-23 FS $3,800,000 3572 Keoniana Pl 14,125 sqft 3,243 3/2.5

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

The house on MiliMakani is a ’starter’ home, Honoiki Road is brand new with fabulous golf course and mountain views no matter which way you turn and Keoniana Place perches on the bluff overlooking the blue Pacific.

I hope we continue to see buyer interest in the condos with more going into escrow and closing. As always, any questions–please call or email me.

Aloha,

Elaine Schaefer (R, GRI, ABR)
Broker in Charge – Princeville Resort Office
Graduate, Realtor’s Institute
Accredited Buyer’s Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.kauairealestatenow.com
blog: www.blogs.alohaliving.com/princeville-condo-sales

……you can have your own piece of paradise
ask me how!

August 26th, 2007