January Princeville condo / house market performance.
Everyone is always asking how the market is here. I am very visual and think one picture is worth 1000 words so I am showing you what went on for the last month with Princeville Real Estate. These are all the new listings, properties back on the market, those that went into escrow (contingent and under contract) as well as withdrawn units, sales and price changes. Basically, this is your snapshot of how Princeville condos performed for the month of January…Take a look and tell me what YOU think the market is doing.
Copyright 2/5/2008 by Hawaii Information Service
NEW LISTINGS
205059 T A 26 4-5-3-11-1-3 FS $815,000 Villas On The Prince #3 1,737 #3 3/3
206307 T A 13 4-5-3-11-1-18 FS $999,000 Villas On The Prince #18 1,800 #18 3/3
206549 T A 11 4-5-3-6-22-3 FS $1,900,000 Kaiulani Of Princeville #3 2,843 #3 3/3.5
205973 T A 21 4-5-3-6-22-48 FS $1,900,000 Kaiulani Of Princeville #48 2,476 #48 3/3
203210 T A 5 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5
206100 SH A 20 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206436 T A 8 4-5-4-15-21-7 FS $419,000 Sandpiper Village I #107 1,042 #107 2/2
206653 T A 8 4-5-4-5-18-95 FS $433,000 Puamana #26B 1,532 #26B 2/2
205685 T A 27 4-5-4-15-21-21 FS $459,000 Sandpiper Village I #121 1,042 #121 2/2
205596 T A 24 4-5-4-15-21-30 FS $499,000 Sandpiper Village I #130 1,042 #130 2/2
205798 T A 27 4-5-4-6-1-34 FS $920,000 Villas Of Kamalii #34 1,825 #34 3/3
205502 T A 32 4-5-4-11-3-125 FS $995,000 Hanalei Bay Resort #R17 867 #3105-6 1/2
205638 T A 25 4-5-4-11-3-13 FS $1,350,000 Hanalei Bay Resort #C15 1,705 #C15 3/3
205964 T A 22 4-5-4-12-11-5 FS $1,600,000 Puu Poa #105 2,065 #105 2/2
205418 T A 32 4-5-4-12-11-37 FS $2,245,000 Puu Poa #309 1,352 #309 2/2
206596 T C 10 4-5-4-5-24-82 FS $599,000 Nihilani At Princeville Resort #28A 1,406 #28A 2/2
BACK ON THE MARKET
170814 SH A 753 4-5-4-11-3-84 FS $99,000 Hanalei Bay Resort #N22 867 #N22 1/2
170813 SH A 753 4-5-4-11-3-84 FS $99,000 Hanalei Bay Resort #N22 867 #N22 1/2
170812 SH A 753 4-5-4-11-3-84 FS $135,000 Hanalei Bay Resort #N22 867 #N22 1/2
170815 SH A 753 4-5-4-11-3-84 FS $149,000 Hanalei Bay Resort #N22 867 #N22 1/2
171233 T A 753 4-5-4-11-3-84 FS $488,000 Hanalei Bay Resort #N22 867 #1513 1/2
181966 T A 550 4-5-4-15-21-50 FS $549,999 Sandpiper Village I #213 1,173 #213 3/2.5
202839 T A 66 4-5-4-6-1-11 FS $1,150,000 Villas Of Kamalii #11 1,825 #11 3/3
CONTINGENT SALES
196331 SH C 257 4-5-4-6-1-42 FS $245,000 Villas Of Kamalii #42 1,825 #42 3/3
174822 T C 614 4-5-4-12-9-28 LH $350,000 Pali Ke Kua Iii #238 993 #238 1/1.5
183283 T C 540 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2
206596 T C 10 4-5-4-5-24-82 FS $599,000 Nihilani At Princeville Resort #28A 1,406 #28A 2/2
201459 T C 133 4-5-4-6-1-9 FS $935,000 Villas Of Kamalii #9 1,761 #9 3/3
SALES
152057 T S 0 4-5-3-6-22-66 FS $895,000 Kaiulani Of Princeville #66 1,901 #66 2/2.5
SOLD 1/11/2008 for $896,720 (CNV) DOM 0
152067 T S 0 4-5-3-6-22-67 FS $895,000 Kaiulani Of Princeville #67 1,781 #67 2/2.5
SOLD 1/11/2008 for $895,000 (CNV) DOM 0
152058 T S 0 4-5-3-6-22-68 FS $895,000 Kaiulani Of Princeville #68 1,892 #68 2/2.5
SOLD 1/31/2008 for $898,250 (CNV) DOM 0
184077 T S 434 4-5-3-11-1-36 FS $899,000 Villas On The Prince #36 1,760 #36 3/3
SOLD 1/23/2008 for $815,000 (CASH) DOM 434
152078 T S 0 4-5-3-6-22-14 FS $1,700,000 Kaiulani Of Princeville #14 2,861 #14 3/3.5
SOLD 1/18/2008 for $1,724,070 (CNV) DOM 0
152031 T S 0 4-5-3-6-22-17 FS $1,950,000 Kaiulani Of Princeville #17 2,873 #17 3/3.5
SOLD 1/3/2008 for $1,971,790 (CNV) DOM 0
152077 T S 28 4-5-3-6-22-13 FS $2,050,000 Kaiulani Of Princeville #13 2,861 #13 3/3.5
SOLD 1/4/2008 for $2,069,070 (CNV) DOM 28
203796 T S 7 4-5-4-5-39-72 FS $399,500 Cliffs At Princeville #3204 917 #3204 1/2
SOLD 1/16/2008 for $380,000 (CASH) DOM 7
EXPIRED
152029 T X 0 4-5-3-6-22-11 FS $1,650,000 Kaiulani Of Princeville #11 2,873 #11 3/3.5
198740 T X 190 4-5-4-5-18-91 FS $470,000 Puamana #25B 1,532 #25B 2/2
200136 T X 133 4-5-4-12-9-26 LH $530,000 Pali Ke Kua Iii #236 1,135 #236 2/2
190750 T X 360 4-5-4-5-24-62 FS $600,000 Nihilani At Princeville Resort #21B 1,400 #21B 2/2
198758 T X 194 4-5-4-5-24-8 FS $699,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
189654 T X 308 4-5-4-12-10-16 FS $699,000 Emmalani Court #314 1,192 #314 2/2
202822 T X 103 4-5-4-12-10-29 FS $717,000 Emmalani Court #422 1,192 #422 2/2
189708 T X 376 4-5-4-11-3-32 FS $1,400,000 Hanalei Bay Resort #H26 1,324 #H26 2/2
WITHDRAWN
188541 T W 404 4-5-3-6-22-49 FS $1,750,000 Kaiulani Of Princeville #49 2,479 #49 3/3
206787 T W 413 4-5-3-6-22-50 FS $1,800,000 Kaiulani Of Princeville #50 2,443 #50 3/3.5
188542 T W 404 4-5-3-6-22-50 FS $1,800,000 Kaiulani Of Princeville #50 2,443 #50 3/3.5
188537 T W 404 4-5-3-6-22-4 FS $1,900,000 Kaiulani Of Princeville #4 2,843 #4 3/3.5
188540 T W 404 4-5-3-6-22-8 FS $1,950,000 Kaiulani Of Princeville #8 2,864 #8 3/3.5
194278 SH W 253 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
180682 T W 550 4-5-4-5-18-34 FS $497,500 Puamana #9C 1,532 #9C 2/2
196532 T W 226 4-5-4-12-2-6 FS $515,000 Hale Moi #106 1,033 #106 2/2
188004 T W 367 4-5-4-5-23-54 FS $625,000 Plantation At Princeville #1412 1,153 #1412 2/2
198318 T W 186 4-5-4-5-18-42 FS $649,000 Puamana #12B 1,532 #12B 2/2
198480 T W 175 4-5-4-5-24-13 FS $835,000 Nihilani At Princeville Resort #5A 1,874 #5A 3/2.5
196871 T W 202 4-5-4-12-8-20 FS $995,000 Pali Ke Kua Ii #227 993 #227 2/2
196420 T W 205 4-5-4-11-3-49 FS $1,195,000 Hanalei Bay Resort #J11 1,324 #7101-2 (J11) 2/2
TEMPORARILY WITHDRAWN
206022 SH T 15 4-5-4-12-11-37 FS $395,000 Puu Poa #309 1,352 #309 2/2
206021 SH T 15 4-5-4-12-11-37 FS $395,000 Puu Poa #309 1,352 #309 2/2
206020 SH T 15 4-5-4-12-11-37 FS $395,000 Puu Poa #309 1,352 #309 2/2
206023 SH T 15 4-5-4-12-11-37 FS $425,000 Puu Poa #309 1,352 #309 2/2
206025 SH T 15 4-5-4-12-11-37 FS $450,000 Puu Poa #309 1,352 #309 2/2
206026 SH T 15 4-5-4-12-11-37 FS $475,000 Puu Poa #309 1,352 #309 2/2
204804 T T 41 4-5-4-5-39-33 FS $495,000 Cliffs At Princeville #2103 917 #2103 1/2
PRICE CHANGES
196201 T A 259 4-5-3-11-1-26 FS $960,000- Villas On The Prince #26 1,765 #26 3/3
202550 T A 112 4-5-3-6-22-41 FS $1,590,000- Kaiulani Of Princeville #41 2,479 #41 3/3
194231 T A 300 4-5-3-6-22-43 FS $1,685,000- Kaiulani Of Princeville #43 2,443 #43 3/3.5
202473 T A 105 4-5-3-6-22-27 FS $1,899,000- Kaiulani Of Princeville #27 2,864 #27 3/3.5
206653 T A 8 4-5-4-5-18-95 FS $433,000+ Puamana #26B 1,532 #26B 2/2
198765 T A 180 4-5-4-15-21-32 FS $434,000- Sandpiper Village I #132 1,042 #132 2/2
196998 T A 238 4-5-4-15-21-43 FS $480,000- Sandpiper Village I #206 1,173 #206 2/2.5
171233 T A 753 4-5-4-11-3-84 FS $488,000- Hanalei Bay Resort #N22 867 #1513 1/2
201428 T A 138 4-5-4-5-3-16 FS $505,000- Princeville Paniolo #116 1,058 #116 1/2
193038 T A 222 4-5-4-12-2-34 FS $520,000- Hale Moi #214 1,033 #214 1/2
193495 T A 313 4-5-4-12-2-16 FS $525,000- Hale Moi #116 1,033 #116 1/2
193722 T A 302 4-5-4-12-2-35 FS $529,000- Hale Moi #215 1,033 #215 1/2
198438 T A 200 4-5-4-12-2-31 FS $575,000- Hale Moi #211 1,033 #211 1/2
191680 T A 327 4-5-4-5-13-28 FS $599,000- Kamahana #28 1,145 #28 2/2
194396 T A 209 4-5-4-5-4-17 FS $599,950- Ka’eo Kai Ph I #7B 2,603 #7B 3/3
205172 T A 40 4-5-4-5-13-13 FS $649,000- Kamahana #13 2,073 #13 3/2
204852 T A 55 4-5-4-5-23-31 FS $649,000- Plantation At Princeville #821 1,366 #821 3/3
199453 T A 117 4-5-4-12-10-19 FS $695,000- Emmalani Court #322 1,192 #322 2/2
185586 T A 484 4-5-4-12-10-24 FS $698,000- Emmalani Court #412 1,192 #412 2/2
199987 T A 172 4-5-4-6-1-35 FS $725,000- Villas Of Kamalii #35 1,815 #35 3/3
200223 T A 166 4-5-4-5-24-40 FS $769,000- Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
201267 T A 141 4-5-4-5-24-87 FS $785,000- Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
186819 T A 450 4-5-4-6-1-20 FS $874,900- Villas Of Kamalii #20 1,825 #20 3/3
180178 T A 588 4-5-4-5-12-33 FS $925,000- Sealodge Ii #J6 754 #J6 2/2
193435 T A 312 4-5-4-6-1-1 FS $947,500- Villas Of Kamalii #1 1,761 #1 3/3
201944 T A 124 4-5-4-12-11-46 FS $1,549,000- Puu Poa #404 1,352 #404 2/2
204087 T A 71 4-5-4-12-11-17 FS $1,675,000- Puu Poa #203 1,352 #203 2/2
206596 T C 10 4-5-4-5-24-82 FS $599,000- Nihilani At Princeville Resort #28A 1,406 #28A 2/2
201459 T C 133 4-5-4-6-1-9 FS $935,000- Villas Of Kamalii #9 1,761 #9 3/3
190750 T X 360 4-5-4-5-24-62 FS $600,000- Nihilani At Princeville Resort #21B 1,400 #21B 2/2
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
I’m sure you noticed there were only two sales that were NOT developer’s sales of Kai’ulani. Now that you’ve seen the condos take a look at the houses for the last month:
Copyright 2/5/2008 by Hawaii Information Service
NEW LISTINGS
206641 RS A 5 4-5-3-12-30 FS $1,675,000 3982 Aloalii Dr 8,072 sqft 2,229 3/2
205771 SH A 25 4-5-4-14-30 FS $350,000 3891 Kamehameha Rd 11,262 sqft 3,599 3/3.5
206101 RS A 19 4-5-4-15-15 FS $945,000 3838 Haulani Pl 14,510 sqft 2,262 4/3
205291 RS A 34 4-5-4-20-11 FS $1,395,000 3975 Kalakaua Pl 18,604 sqft 2,450 3/3
205619 RS A 12 4-5-4-24-12 FS $1,450,000 4246 Waileia Pl 11,741 sqft 2,939 4/3
206198 RS A 14 4-5-4-17-21 FS $1,595,000 4914 Emmalani Dr 10,500 sqft 3,238 4/3.5
206177 RS A 14 4-5-4-9-55 FS $1,650,000 5331 Honoiki Rd 10,689 sqft 2,554 3/3
206377 RS A 14 4-5-4-10-22 FS $1,795,000 4078 Liholiho Rd 10,200 sqft 2,515 3/4
205770 RS A 26 4-5-4-13-29 FS $4,595,000 3565 Kaweonui Rd 13,089 sqft 2,614 4/4.5
BACK ON THE MARKET
167523 RS A 815 4-5-4-16-19 FS $775,000 4064 Kaa’humanu Pl 12,058 sqft 2,489 2/3
202991 RS A 100 4-5-4-16-9 FS $1,295,000 5015 Emmalani Dr 10,500 sqft 2,469 3/3
202875 RS A 99 4-5-4-13-65 FS $1,350,000 3717 Albert Rd 12,762 sqft 2,533 3/2.5
CONTINGENT SALES
203558 RS C 64 4-5-3-11-43 FS $1,725,000 4128 Aloalii Dr 10,616 sqft 3,054 3/3.5
196946 RS C 231 4-5-4-8-24 FS $895,000 5072 Kamamalu Loop 10,806 sqft 2,270 3/2.5
204442 RS C 68 4-5-4-16-21 FS $1,239,000 4070 Kaa’humanu Pl 10,536 sqft 2,334 3/3
SALES
184383 RS S 420 4-5-4-16-67 FS $1,100,000 4421 Emmalani Dr 11,463 sqft 1,705 3/2
SOLD 1/23/2008 for $980,000 (CASH, EXCH) DOM 420
EXPIRED
197956 RS X 182 4-5-4-22-10 FS $845,000 4030 Kawaiala 10,614 sqft 2,250 3/2.5
183017 RS X 498 4-5-4-10-28 FS $859,000 5230 Honoiki Rd. 10,189 sqft 1,688 3/2
176531 RS X 603 4-5-4-10-5 FS $1,495,000 4126 Liholiho Rd 9,969 sqft 2,439 3/2.5
189976 RS X 364 4-5-4-16-65 FS $1,500,000 4465 Emmalani Dr 10,896 sqft 2,122 3/2
WITHDRAWN
204441 SH W 53 4-5-4-16-21 FS $275,000 4070 Kaa’humanu Pl 10,536 sqft 2,334 3/3
204439 SH W 53 4-5-4-16-21 FS $285,000 4070 Kaa’humanu Pl 10,536 sqft 2,334 3/3
204440 SH W 53 4-5-4-16-21 FS $294,000 4070 Kaa’humanu Pl 10,536 sqft 2,334 3/3
204438 SH W 53 4-5-4-16-21 FS $294,000 4070 Kaa’humanu Pl 10,536 sqft 2,334 3/3
204436 SH W 53 4-5-4-16-21 FS $294,000 4070 Kaa’humanu Pl 10,536 sqft 2,334 3/3
204364 SH W 50 4-5-4-16-21 FS $298,000 4070 Kaa’humanu Pl 10,536 sqft 2,334 3/3
203138 RS W 77 4-5-4-22-26 FS $729,000 4372 Emmalani Dr 11,390 sqft 1,307 3/2
169856 RS W 763 4-5-4-19-19 FS $1,095,000 5086 Napo’okala Cir 15,326 sqft 2,206 3/3
201069 RS W 136 4-5-4-18-59 FS $1,099,000 4185 Kinau Pl 10,445 sqft 2,070 3/3
193652 RS W 296 4-5-4-19-1 FS $1,795,000 4165 Liholiho Road 25,212 sqft 3,235 3/2.5
192735 RS W 154 4-5-4-8-47 FS $3,475,000 5045 Kapiolani Lp 16,502 sqft 4,025 5/4.5
TEMPORARILY WITHDRAWN
192357 RS T 300 4-5-4-8-9 FS $1,750,000 3887 Punahele Rd 11,139 sqft 3,260 4/4
PRICE CHANGES
195550 RS A 270 4-5-3-12-9 FS $1,690,000- 4001 Aloalii Dr 8,081 sqft 3,461 2/3
200833 RS A 133 4-5-4-16-6 FS $669,000- 5035 Emmalani Dr 10,500 sqft 1,599 2/2
168524 RS A 796 4-5-4-22-4 FS $719,500- 4087 Nalani Ln 11,244 sqft 1,424 3/2
200685 RS A 152 4-5-4-15-6 FS $739,000- 3881 Albert Rd 11,515 sqft 1,272 3/2
198759 RS A 200 4-5-4-15-16 FS $749,900- 3834 Haulani Pl 11,020 sqft 2,048 3/3
167523 RS A 815 4-5-4-16-19 FS $775,000- 4064 Kaa’humanu Pl 12,058 sqft 2,489 2/3
197977 RS A 215 4-5-4-21-36 FS $995,000- 4892 Cr Kaui Rd/pepelani 28,847 sqft 2,274 4/3.5
196967 RS A 242 4-5-4-20-32 FS $1,199,000- 5145 Kapi’olani Loop #III 9,826 sqft 1,920 3/2
198602 RS A 55 4-5-4-16-86 FS $1,290,000- 4114 Nalani Ln 12,012 sqft 4,000 4/4
189321 RS A 392 4-5-4-20-33 FS $1,299,000- 3975 Punahele Rd 9,979 sqft 1,960 3/2.5
202093 RS A 123 4-5-4-8-45 FS $2,295,000- 5063 Kapiolani Lp 22,745 sqft 3,636 4/3.5
203558 RS C 64 4-5-3-11-43 FS $1,725,000- 4128 Aloalii Dr 10,616 sqft 3,054 3/3.5
203965 RS C 77 4-5-4-20-3 FS $1,199,000- 5121 Kapi’olani Loop 30,742 sqft 1,989 3/2.5
195521 RS C 274 4-5-4-15-3 FS $1,350,000- 3979 Kamehameha Rd 10,772 sqft 3,425 5/3.5
169856 RS W 763 4-5-4-19-19 FS $1,095,000- 5086 Napo’okala Cir 15,326 sqft 2,206 3/3
This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.
Now I am just going to say it; I think there are a lot of overpriced listings out there. Recently, we’ve seen some that are coming on that are within the realm of possibility, like the Sandpiper that’s listed for $419K and the Plantation that just came on for $565K but by and large, that’s the exception and not the rule.
I have no real objection with “testing the market,” after all, every seller alive wants to try to get the top dollar for their property, but lets face it, if you’ve been on the market for a zillion days and still don’t have an offer, that’s what I call a “clue.” It is time to reduce, reduce, reduce. If you’ve set your price and no one cares, then it really doesn’t matter what the price is and it also doesn’t matter why you, the seller think your house is “worth” it– it’s too high. If the buyer does not find value for the dollar, there is no sale. I’ll hold that thought…I can get carried away talking about pricing but I’ll talk about it again in a later blog. Any comments or questions?…..I’m here. Just call, comment or email!
Aloha, Elaine
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!
February 6th, 2008 at 8:22 pm
Excellent post. I know that it has to be quite annoying to have a person waste your time by listing or wanting to list at some extremely high # on the hope that they are going to sell their house for a big # just because they feel their house is special and that the reno they did 20 year ago is still new.
I feel that the area is somewhat overpriced, and property owners need to realize that they are not guaranteed a profit, houses don’t have to appreciate.
By viewing the listings purchase price on another site, it seems like a ton of people are trying to cash out and move into something smaller and cheaper.
Are people leaving the island, or are they actually trying to pull out some of their equity or trying to pay off their home equity loans etc? Or are they moving to AZ or MT or something?
February 6th, 2008 at 8:23 pm
What i meant is why the sudden rush to sell? Are they moving to Ha’ena or Kiluaeau(sp) or Kapaa?
February 6th, 2008 at 9:18 pm
Aloha Scott,
Princeville is a unique niche market not prone to many of the factors that impact sales on the mainland. For example, many of the homes and condos in Princeville are second homes or investment property currently used as vacation or long term rentals. Some of the owners bought thinking the market would go up and are now faced with negative cash flow and loss of equity. You see it all the time, the listings where the seller is upside down from the beginning, just trying to get out from under the debt.
In addition, with the slowdown in the market, the Inventory has gotten so backlogged which just adds to the problem.
Then there are the people who just want to sell because that’s what they had planned. But they have to be realistic and price competively to stand out enough to bring in a buyer.
And on a final note, I don’t mind a seller that wants to try to get the higher price, as long as they are willing to reduce within 30 days if nothing comes of it.
Thanks for your comments. More on this in another blog.
Aloha Elaine