Kauai Rain: Its Called The Garden Island for a Reason

by Martie Law (R) on April 2, 2012

We recently had some of the worst flooding I’ve ever seen in my life on Kauai. Those 100 year floods they talk about that never happen, really happened. I’ve shown my listing at 611 Kamalu Rd. in the Wailua Homesteads area of Kauai, what feels like hundreds of times over several years always being asked “does it flood here?”

611 Kamalu Rd., Wailua Homesteads, Kauai

The property technically is in a flood zone because there is a small stream at the back of the property.  But having been raised in the neighborhood, my answer was always “a little bit along the roadside when we have heavy rains, but I’ve never seen it flood from the stream, nor have I seen any major ponding in front of the house.” Those answers were all true, until March 5th. You can bet my disclosure will be quite a bit different during future showings.

See this YouTube video: http://youtu.be/uOqYGkExMTE

The good news is, no water ended up in the house and our tenants were able to stay in the house nice and dry while riding out the storm.

Kauai, The Garden Island, is known to be the wettest spot on earth with 400+ inches of rain a year on Mt. Waialeale, our highest peak. During our recent rains, the North Shore of Kauai got 39” of rain in 3 days! This storm was incredible.  We even had hail!  The best thing about living on a small island such as Kauai, is the community. Everyone really comes together and supports each other in times of need, and our occasional  natural disasters are no exception to that rule.  Waterfalls are flowin’, grass is growin’ and rainbows are glowin’!  If it weren’t for the rain, we’d be bored.

Lucky we live on Kauai!

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The Kauai Community Market: Support Kauai Farmers

by Gwyneth Calipjo (RA) on March 28, 2012

Last Saturday I went to the farmer’s market located at Kauai Community College for the first time. To my surprise there was so much more than the leafy green vegetables and exotic fruit typically found at local Farmer’s Markets. Pad Thai, curry, nachos, tacos, lau lau (steamed pork wrapped in taro leaf), kalua pork and cabbage, and chili were just a few of the offerings. There was even a vendor making crepes! The selection was almost overwhelming. I opted for two carne asada tacos served with fresh homemade salsa for $6. Delicious!

Colorful Produce at Kauai's Farmer's Market

After we ate, we walked around and checked out all of the different vendors’ products. While talking with the vendors and enjoying their free samples, I realized how grateful the they were to have the opportunity to sell their homemade products, fruits and veggies without having to deal with the high overhead costs that come with owning a small business. Some vendors have actually opened up their own restaurants after all the support and feedback their regular customers have given them. All-in-all it is great to see our Kauai residents share their passions with the rest of us, whether it be in farming, cooking or crafting.

I am so lucky to live on an island and be a part of such a supportive community. Whether you live on Kauai or you are visiting you should definitely check out the local Farmer’s Market in your area and SUPPORT LOCAL BUSINESS!

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Historic Kauai Home Offered for Sale

by Micki Evslin (RA) Co-Owner on March 25, 2012

Historic Kauai Real Estate for Sale

In the old days on Kaua’i, the wood that was to be used for building homes was floated in the ocean to salt-cure it, thus making it bug and rot resistant. Wood from old-growth forests was also denser than wood today. This might be the reason why so many of the Kauai’s older, SINGLE-WALLED homes withstood the force of three hurricanes, while newer homes often collapsed.

One of Kauai’s oldest homes of record was just listed for sale in historic Waimea Town. Built in 1923, the two-story, wood-frame house has a storied past. Some say it was once a photography shop, while others say it was a house of ill repute. The two large bay windows in the living room could have been used to display the wares, whatever they were! In the old days, people lived above their businesses, and this property’s unique zoning, both commercial and residential, still allows the new owner to do the same. The lot measures a tiny 2589 sq. ft., but it has the best mango tree in town. The house is a generous 2232 sq. ft. with 2 bedrooms and an office upstairs, and a full separate mother-in-law unit downstairs. It is located directly across the street from the post office  in “bustling” downtown Waimea, which gives it high visibility. The bank, grocery store and beach are all within a stone’s throw, making this property a throwback to Kauai’s golden days. Contact Micki Evslin (one of the property’s owners) for further info at 808 639-6853.

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Auction Alert: Iconic Kauai Oceanfront Hotel to be Sold

by Debra H. Blachowiak (PB) Co-Owner on March 22, 2012

Oceanfront Hotel on Kauai to be Sold at Auction

The Kauai Sands Hotel, located on the oceanfront on the east side of Kauai will be auctioned off online from April 16th to April 18th. Auction.com is handling this transaction with the support of Sleeping Giant Sotheby’s International Realty agents Paul Kyno and Debra Blachowiak.

With 206 rooms, 2 pools and a large lobby with restaurant (now closed), this centrally located Kapaa hotel property is an excellent opportunity for a continuing hotel operation or a condo conversion project. This is a leasehold property and comes with a long lease, which may be converted to fee ownership in the future. Call Paul Kyno at 808-651-3287 for information about the auction process.

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Kauai Real Estate Market Statistics for February 2012

by Kymry Perez (RA), ABR, GRI, e-Pro, SFR, AHWD on March 2, 2012

The February 2012 market statistics are available!  Below is a summary of how the Kauai real estate market is doing year to date so far for 2012 compared to last year.

Residential Sales
Year to date island wide residential sales have increased! At this time last year there had been 56 residential sales and so far this year there have been 63 (7 more sold); an increase of 12.50%. Sales volume is down compared with 2011.  There has been approx. $42m in sales so far this year compared with approx. $57m in 2011; a decrease of 26.23%.  The median sales price decreased to $425,000 year to date compared with $459,000 in 2011.

Condo Sales
The number of condos sold year to date has decreased slightly from 44 sold in 2011 to 40 sold so far in 2012 (4 less sold); a decrease of 9.09%.  However, sales volume for condos has increased  There was approx. $13m in sales last year compared with approx. $15m in sales so far for 2012; an increase of 14.85%.  The median sales price inreased to $295,000 from $188,755 in 2011; a 56.29% increase.  This is likely due in part to the decreasing inventory of inexpensive “condo-tel” hotel room units available at Kauai Beach Resort.  The sales prices on these units have increased over the last few months as well.  The inventory of super cheap $25,000 units are gone.

Vacant Land
The number of vacant land parcels sold this year is down compared to 2011.  There have been 14 parcels sold in 2012 compared to 17 at this time last year; a decrease of 17.65%.  Sales volume for vacant land is also down nearly 50%.  There were approx. $10m in sales in 2011 compared with approx. $5m so far this year.  The median sales price decreased 34.75% from $400,000 to $261,000.

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

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A Shift in the Market-Kauai Real Estate is Moving!

by Martie Law (R) on February 25, 2012

After years of watching the real estate market move at what often felt slower than a snail’s pace, buyers are suddenly finding less to choose from in the Kauai real estate market.

Just after Thanksgiving I sent my client a list of houses on Kauai that met her family’s criteria: Wailua/Kapaa/Kapahi/Kealia area; a fixer-upper was preferable as they liked a project; a budget up to $300,000, with some land for gardening but not too rural as she had allergies; room to expand since their family wanted a place to stay when they were on island. At that time eight properties popped up with most or all of that criteria met.

With the holidays upon us, travel, work and the season got in the way, and with the market as slow as it had been, there was no real sense of urgency to schedule the showings during what is traditionally the slowest time of the year. We finally found time to tour the properties just after Christmas.

In preparation for the showings, I pulled up the eight properties on the multiple listing service to schedule our tour. To everyone’s surprise, all but two were in escrow!  I was shocked; they were shocked; we were all shocked!! Two days later we got together to look over what was left, but the lesson was obvious—the real estate market was changing and faster than expected.  As inventory is gobbled up, prices will inevitably go up as the law of supply and demand takes it course.  Historically low interest rates will only serve to feed the fire, as buyers realize their opportunities are disappearing.

Now is the time to buy! I know you’ve heard it before, but you don’t want to be “that guy” (or gal) who wished they had bought back when the market was low and missed the boat. Trust me, this phenomenon is happening all over again and we truly are at the bottom. Don’t miss out! Give me a call me today to discuss what you are looking for and schedule a property tour before your Kauai dream house is a distant memory.

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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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