Aloha friends and fans of Kauai!
Billy O’ here just sitting down to do a little reporting on the market after the first nine glorious months of 2016 on the Garden island.
I know you’ve heard me say this before and I’m sure I’ll say it again but…. My general feeling is, do WHATEVER it takes to get a slice of this island for you and your family! Wether it’s a legacy condo or home for your family, a place to snowbird to when it’s just too cold on the mainland or a full on relocation, get here.
Why? If you’ve spent more than a few days on this island, you know why. But if not, I’ll tell you quick and easy: It’s healthy as can be, relaxing, wholesome, full of exciting adventures and undeniably one of the most beautiful places on earth. Not to mention it’s safe and still somewhat affordable compared to Maui or Oahu.
Now that I’ve got my feelings out about the island here are some of the top news items of 2016 relating to the Kauai market. These are in no particular order but all pretty interesting.
- Kapaa commercial: Kapaa is going through a renaissance. Amazing places to eat and drink all over the strip as well as several new buildings going vertical including some boutique art shops and business centers. Large lots in the Houselots and Homesteads are getting chopped into smaller pieces so more folks can call the Coconut coast home.
- New construction: It’s HOT. Especially if its a home and it’s brand new, it’s pretty much sold. We are seeing speculative home sales from 459k that have multiple bidders all the way up to an 11m bali modern by Gary Toby sold in just weeks on the open market.
- Princeville cruising along: Nothing really amazing with Princevlle but the sales are chugging along with prices inching up but not nearly anything like it was a few years ago. Rents seem to be getting a little better but it’s also a much more competitive marketplace because it seems like everyone is renting a room or their whole place on Airbnb. We started managing properties this year and it’s been a blast but wow, everyone in the VDA is renting every nook and cranny.
- Poipu going vertical: Koloa Landing, Kukuiula Cottages, Pili Mai, Wainani and many more developments are being erected and sold. It’s really going off on the south side.
- Golf Golf Golf: There’s a new sheriff in town at Hokuala in Lihue. Have you seen that place?? It’s just amazing. Timbers resorts scored on that gem of a property and are doing it justice by bringing the Nanini point to life! Check out my blog and if you’d like a tour we can set that up for you when you are here. They offer 1/4, 1/6 and even 1/12 ownership so if you are interested in shared ownership with a golf and private club atmosphere, this is the place. If you are about more than just playing golf here on Kauai, you can even buy Kiahuna golf course! In that case call me at 808-755-5866 ;). I’ll write you up an offer. It’s listed for about 14m.
- Coco Palms: It’s got new owners and is in the process of being demolished!! Can you believe it?!? Just today the news was released that it’s going to start new construction in Jan of next year. Wow. Only about 25 years since Iniki took that hotel out of service.
- DR Horton is going ‘affordable’: The new 54 acre Ho‘oluana at Kohea Loa should provide 440 homes with about %40 being affordable. We aren’t sure what the duplex options will cost but the single family homes should start with a 4 in front of it, so hopefully won’t be too pricey. Should help to bring back the Hanamaulu commercial sector too!
Thats some of the best info the Kauai Real Estate market has to offer this year. How did I do? Interesting enough? As always if you have burning desires go ahead and shoot me a call or a text at 808-755-5866! I’m always happy to help.