Poipu Oceanfront Condo Sold Within Days

by Heidi Read (RA) on January 20, 2012

In today’s market, buyers are more savvy and knowledgeable than ever before. They know they’re in the driver’s seat, and in most cases are willing to wait for the right deal to come along. Today, price sells. Of course, this places a great deal of strain on sellers who need to sell quickly.

As an agent for over 30 years on Kauai, one of the most difficult situations to deal with is a seller who has not yet come to grips with today’s market and the effect it has had on the value of their property. In recent years, we’ve see properties sit on the market for months, or even years in some cases, only to finally sell for a fraction of its former value. This is what we in the business refer to as “chasing the market down.” Listings become stale, which leads to complacency both among buyers and agents. Not a good approach if the necessity is to sell quickly.

One of the more welcome and recent developments in the Kauai real estate market is an awakening of sorts among some sellers. They’ve come to grip with what their property is worth today, price it appropriately for the market and the offers come in. On Kauai, these properties are actually selling!

A client of mine recently approached me about selling her beautiful oceanfront condominium in Poipu. This condo has amazing views with windows galore that bring the ocean right into the living and bedrooms. This is a great Kauai vacation rental or second home, offering swimming pool, tennis court and golf nearby. A few years ago this property would easily have fetched $1,000,000. However in today’s market, I advised a listing price of just under $800,000 to sell it in a reasonable time of about 30 days. Fortunately, the seller took my advice and this amazing oceanfront property received a full price offer within days.

If you are considering selling your property, do your homework. Talk with your agent and ask for recent comparable sales in your neighborhood. In short, you must gain a realistic picture of the current market before decide to list your home for sale. Today, more than ever, price sells. If you need to sell quickly, you must be willing to price your home based on today’s values. If you have further questions regarding oceanfront properties on Kauai, please feel free to contact Heidi at 808-639-0892 or by email.

Makahuena, Poipu

The Ocean View from Makahuena, Poipu

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Kauai Real Estate Market Statistics Comparing 2011 to 2010

by Kymry Perez (RA), ABR, GRI, e-Pro, SFR, AHWD on January 5, 2012

Wondering how the Kauai real estate market was in 2011 compared to 2010?  The number of residential sales was steady with only two more homes sold in 2010 than in 2011, but the sales volume was up by over 16%!  The number of condos sold went up quite a bit in 2011, but the number of vacant land sales went down.  Below is a summary comparing 2011 to 2010 for residential, condo, and vacant land sales island wide.

Residential Sales
Residential sales for 2011 have remained very steady when compared with 2010. There were 360 residential sales in 2011 compared with 362 in 2010, however sales volume was up compared with 2010.  There was approximately $284m in sales for 2011 compared with approximately $244m in 2010; an increase of 16.44%.  The median sales price decreased to $455,000 compared with $500,000 in 2010.

Condo Sales
The number of condos sold in 2011 increased from 2010.  There were 245 sold in 2010 compared to 290 in 2011 (45 more sold); an increase of 18.37%.  The sales volume for condos increased from approximately $85m sold in 2010 to approximately $92m sold in 2011; an increase of 8.40%.  The median sales price decreased to $227,000 in 2011 compared to $270,000 in 2010.  Keep in mind, this is due in part to the high number of sales of inexpensive “condo-tel”units sold this year at Kauai Beach Resort, many under $50,000.

Vacant Land
The number of vacant land parcels sold in 2011 was down compared to 2010.  There were 97 parcels sold in 2011 compared to 111 in 2010; a decrease of 12.61%.  Sales volume for vacant land was down in 2011 as well by 43%.  There were approx. $83m in sales in 2010 compared with approx. $47m in 2011.  The median sales price increased 5.45% from $275,000 to $290,000.

The above is a look at the Kauai market statistics island wide.  If you’d like to know how the market is doing in a specific area of the island just let me know.  I’d be happy to email you a summary of the market statistics in your area!

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Prices Slashed at Kauai’s Premier Luxury Condominium Resort

by Susan Higgins (RA) on December 29, 2011

Prices came tumbling down today at Waipouli Beach Resort, Kauai’s newest luxury condominuim complex, plus eleven new units were added to the inventory currently being offered for sale. Centrally located in Kauai’s Coconut Coast, Waipouli Beach Resort offers one and two-bedroom luxury condominiums equipped with all of the amenities and high-end finishes one would expect at a high-end resort. Condominiums once priced well above $1 Million USD, today are listed for as low as $375,000.

These luxurious condominium properties are fully furnished and equipped with top of the line appliances, granite countertops, jaccuzzi tubs and air conditioning. Waipouli Beach Resort is located in one of the few remaining areas of Kauai that still allows vacation rentals, providing a great investment opportunity.

 

In addition, six studio hotel units are being offered together for $1,800,000. With historically high occupancy, these hotel rooms are currently operating with positive cash flow making them a smart buy for the investor. Where else can you buy six oceanfront hotel rooms with the finest amenities on the island?

Waipouli Beach Resort has become a vacation destination for many of Kauai’s visitors with property features including a two-acre salt water lagoon pool, three water slides, three sand bottom hot tubs and a beautiful waterfall. The property also offers a new state of the art fitness center and spa, and a new oceanfront restaurant and bar—Oasis by the Sea. Luxurious living in this tropical paradise can be yours now. Contact me today for more information on this once in a lifetime opportunity at SusanH@SleepingGiant.com or 808-346-7900.

 

 


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Large Niumalu Kauai Riverfront Estate Home Reduced to Sell

by Kymry Perez (RA), ABR, GRI, e-Pro, SFR, AHWD on December 28, 2011

Grab your kayaks!  Paradise awaits you in this centrally located, yet private Lihue estate home situated on the Huleia River with expansive mountain views.  Large 4,140 square foot home on 3/4 acre of riverfront land consisting of four spacious bedrooms, an office space, formal dining room, and three bathrooms.  For casual dining there is an eat in kitchen nook or the spacious, covered lanai for dining outdoors.

 

The Mediterranean style architecture details high dramatic ceilings and quality craftsmanship throughout.  There is a gourmet chef’s kitchen with gas stove, large pantry, and granite countertops.  The large master suite includes a master bath of spa quality with marble finishes, double vanities, and a Jacuzzi tub.  There is an abundance of closet and storage space throughout the home.

 

At $985,000 this 4,140sf home is $238 per square foot but remember the square footage is interior only and doesn’t include garages, lanais, and patios! You couldn’t buy a riverfront lot and rebuild this home for anywhere close to this asking price.  For more information or to schedule a private showing contact me today at 808-635-1490 or via email to Kymry@Kymry.com

 

 

 

 

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Happy Holidays from Kauai

by Kymry Perez (RA), ABR, GRI, e-Pro, SFR, AHWD on December 25, 2011

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Happy Holidays from the Beautiful Island of Kauai

by Debra H. Blachowiak (PB) Co-Owner on December 23, 2011

Although 2011 was another challenging year, we are at the end and feel that we have turned the corner in the Kauai real estate market.  We’ve seen a significant increase in market activity on Kauai in the last two months due to interest rates hovering at historic lows, coupled with prices that appear to have hit the bottom.  Of course no one can predict how long we will be bouncing along the bottom, it all depends on how long it takes to absorb the existing inventory that we currently have on the island real estate market.

We are seeing many more foreign Buyers on Kauai, from places including China, Australia, and Russia and even more obscure. Recently, a Russian Buyer swooped in and purchased an oceanfront bluff property on Kauai’s northshore for 25% more than the Seller paid for it 2 years ago!  So, Seller dreams can come true, even in this market!

We are excited for the New Year and the launch of our new website at www.SleepingGiant.com. Built with award winning technology and featuring numerous enhancements, our new website will allow visitors to move seamlessly between interactive property galleries, and Google maps or Google Earth, showing Kauai properties in 3D, complete with lot lines.  Searches can be performed based on property specifics such as elevation, view, frontage, address, area, and much more.  The listing pages are enhanced with a wealth of information including photos, comparable sold properties, extensive listing details, sales history, permit history, lot lines over satellite imagery and even the basic home layout for most properties

We look forward to seeing you in the coming year on our beautiful island of Kauai—still the best place to live, bar none!  We wish you a wonderful holiday, and a healthy and successful 2012.

 

 

 

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Regency Villas at Poipu Kai Kauai Condo Deal

by Kymry Perez (RA), ABR, GRI, e-Pro, SFR, AHWD on November 24, 2011

Looking for a really good deal on a luxury condo in Poipu?  Look no further!  Located in the Regency Villas at Poipu Kai this unit has just been reduced to sell quickly.

 

Built in 2004 this modern two bedroom, two bathroom corner/end unit is very spacious at 1,258 square feet.  The unit boasts granite countertops and travertine flooring, along with central air conditioning and a central vacuum system. There is a very spacious open kitchen design with stainless steel appliances including a Sub Zero refrigerator.  The unit is beautifully furnished and vacation rental ready.

 

Looking for amenities?  As part of the Poipu Kai Resort enjoy unlimited use of the pool, jacuzzi, and tennis courts.  Take the pedestrian pathway just a short walk to Brennecke’s/Poipu Beach and the Grand Hyatt Resort & Spa, as well as Shipwreck Beach.  Like to golf? It’s just a minute’s drive from the Poipu Bay Golf Course.

 

The asking price was just reduced to $495,000 which is about half of what similar units have sold for in the past.  For more information contact Kymry today at 808-635-1490 or email Kymry@Kymry.com.

 

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How’s the Kauai Real Estate Market in October 2011?

by Kymry Perez (RA), ABR, GRI, e-Pro, SFR, AHWD on November 4, 2011

The question I get asked most by clients, friends, and family is “how’s the market?”  The October market statistics are available so let me share with you!

 

Residential Sales

Year to date island wide residential sales have remained pretty steady. At this time last year there had been 276 residential sales and so far this year there have been 294 (18 more sold); a slight increase of 6.52%. Sales volume is up compared with 2010.  There has been approx. $202m in sales this year compared with approx. $181m in 2010; an increase of 11.54%.  The median sales price decreased to $450,000 year to date compared with $500,000 in 2010.

 

Condo Sales

The number of condos sold year to date has increased from 200 in 2010 to 233 (33 more sold); an increase of over 16.5%.  However, sales volume for condos is down slightly.  There was approx. $63m in sales last year compared with approx. $62m in sales so far for 2011; a decrease of 2.48%.  The median sales price decreased to $220,000.  Keep in mind, this is due in part to the consistent number of sales of inexpensive “condo-tel” hotel room units at Kauai Beach Resort.  There have been 46 sales at Kauai Beach Resort this year with sales prices ranging from $22,400 – $95,000.  30 of the 46 sales sold for under $50,000.

 

Vacant Land

The number of vacant land parcels sold this year is down compared to 2010.  There have been 80 parcels sold in 2011 compared to 93 at this time last year; a decrease of just under 14%.  Sales volume for vacant land is also down nearly 29%.  There were approx. $53m in sales in 2010 compared with approx. $38m so far this year.  The median sales price increased 8.62% from $290,000 to $315,000.

 

The above is a look at the market statistics island wide.  If you’d like to know how the market is doing in a specific area of the island just let me know.  I’d be happy to email you a summary of the market statistics in your area!

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Huge Price Reduction on Luxury Home on Kauai’s North Shore

by Susan Higgins (RA) on September 1, 2011

No expense was spared in the design and construction of this magnificent 4500 sq. ft. custom designer home, nestled on close to three acres and perched above the ocean with expansive views of Kauai’s beautiful north shore coastline. The care to detail is evident upon approach, as you are greeted by handmade copper gates detailed with tropical foliage, and extensive lava rock walls. Ipe decks at the front and back of the home provide the perfect place to relax, entertain and enjoy the magnificent ocean and mountain views.

 

The interior offers the finest materials throughout including hand-scraped hickory floating wood floors, custom solid wood doors and mouldings, a clerestory ceiling with pyramid skylight, and a true chef’s kitchen, including a six-burner Viking range with double oven, custom cabinetry, built-in espresso machine and golden Italian granite countertops. Some of the many other features include a copper patina metal roof, high tech lighting, ipod docks, surround-sound stereo throughout, individual climate controls, and a security system.

 

This unique luxury home boasts four large bedrooms, each with it’s own full bath, and a truly exceptional master suite complete with a private lanai and large master bath featuring marble mosaic flooring, over-sized walk-in shower, his and her’s sinks, and a beautiful jetted tub with dramatic cliff views. The home also includes a large media/family room with wet bar, private pool and a two-car garage with additional storage. Two of Kauai’s most popular beaches are just moments away, one offering family-friendly wading and the other world-class surf during winter swells. Sold beautifully furnished—a turn key estate and now reduced by an amazing $500,000! Listed at $4,495,000.

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Kauai South Shore Deal…Poipu Kai Short Sale Back on the Market

by Kymry Perez (RA), ABR, GRI, e-Pro, SFR, AHWD on August 15, 2011

Looking for an amazing deal on the South Shore of Kauai?  Look no  further!  Other than a bank owned REO that was completely stripped prior to selling earlier this year, there hasn’t been a sale in the Bayview subdivision at Poipu Kai at this price since 2000.  This single family, 2-story home is 2,117sf situated on a 9,043sf lot.  There are bedrooms on both levels.  There is a generous sized yard downstairs, and a spacious lanai upstairs just off the kitchen and main living area.  The home has undergone several upgrades including a new kitchen that captures beautiful mountain views.

From your doorstep you’re just a short stroll to Keoneloa Bay, Shipwreck Beach, and the Grand Hyatt Resort & Spa, which has several restaurants, lounges, & shops.  Like to golf?  The Poipu Bay Golf Course is just a short walk away too.  Take the pedestrian pathway in the opposite direction and you’ll find yourself at beautiful Poipu Beach where there are restaurants, shops, Marriott’s Waiohai Beach Resort and the Koa Kea Resort.

Located within the Visitor Destination Area (VDA) of Poipu, this resort home can be your full time island residence, or a vacation home you rent out when you’re not using it.  Ownership in the Bayview subdivision allows for full access to the Poipu Kai pool, jacuzzi, 8 tennis courts, wide open greenbelt areas, and pedestrian pathways. The pedestrian pathways are softly lit in the evenings and ideal for strolling under the stars. Other amenities included are private trash pick-up, 24-hour resort patrol services, private sewer system, and cable TV service.

This property is being offered as a short sale, but according to MLS, the asking price of $650,000 has already been bank approved which means the short sale process could be much faster on this transaction.  If you’re interested and would like to get photos and more information please email me at Kymry@Kymry.com or call 808-635-1490.

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