richard dolbeare: Buyer & Seller Markets Co-exist on Kauai
- 05/21/14 07:21 AM
The Kauai real estate market continues to be a paradox with some areas a balanced market trending to a seller's market and others firmly entrenched in the red, buyer market region. South Shore condos are especially troublesome for sellers with a 19+ month supply. Yet in Kauai's central Lihue area, supply is down to 5.2 months for both homes and condos. All regions are a huge improvement over that a few years back which is shown for comparison.
May 2014
2 1/2 Years Ago (note the scale goes up to 60 months)!
For current listings on Kauai, … (3 comments)
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richard dolbeare: Maui Housing Supply
- 02/26/09 06:19 AM
This is my first update of the Maui absorption rate since September 2008 which is posted HERE. I was amazed at the change in months supply which in some locations had doubled & tripled in 5 months. What does all that red mean in the chart? It means the train is in the station waiting for buyers to board and it could be departing at any time. I sure hope the buyers don't wait too long to board!
Aloha,
Search Kauai/Big Island | Search Maui | Email | About Me | Visit Website | Phone/Text (808) 651-4550
Engineering Hawaii Dreams Today--Helping … (4 comments)
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richard dolbeare: Jimmy Buffett coming to Maui!
- 01/30/09 04:54 PM
Living in Hawaii is pretty wonderful but there are some limitations and one is the availability of professional entertainment. That's why it's big news that Jimmy Buffett and his Coral Reefer Band will be performing on Maui at the MACC center on Tuesday, February 24. Tichets went on sale Thursday but availabiity was limited to MACC supporters (I am one). Sales have now opened up to the general public. The MACC website is HERE and the page for ticket purchases is HERE. Remaining tickets are priced from $56 to $86 which is a real bargain! Air fare and hotel are not included so … (15 comments)
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richard dolbeare: Kauai real estate inventory continues to increase--is a breather in sight?
- 12/18/08 06:16 PM
The updated Kauai real estate inventory chart is presented below. The 3+ year climb may have resumed as shown in the chart. The dip in early November was hopeful but as I always say "one month does not a trend make". Nevertheless, we may be starting to flatten out and another few months will give a better picture on that. Unfortunately, the Koloa/Poipu area on Kauai's south shore continues to climb without a break. This is likely because of the high concentration of condos in Poipu which normally attract mainland buyers. Those buyers have been conspicuously absent, both as measure in … (11 comments)
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richard dolbeare: Kauai Absorption Rate--Today and 2 years ago
- 12/18/08 02:57 PM
The December absorption rate chart for the island of Kauai is posted herein. Clearly the supply of homes and condos continues to far exceed a healthy rate of sales for most island zones. The one exception is the central zone of Lihue which is comparatively HOT with less than a 1 year supply of homes. This exception has continued throughout the year and I would classify it as more than an anomoly at this point. Clearly the Lihue area has a relatively high demand for homes compared to what's available. I still don't have anything other than guesses about the reason. … (2 comments)
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richard dolbeare: Hawaii's new jet service
- 12/14/08 05:58 PM
HAWAII HAS NEW JET SERVICE!
In a previous post, I had mentioned that there was going to be a new entrant into the Hawaii interisland jet service market. Republic Airlines has signed an agreement with our local Mokulele Airline to bring the Embraer 170 Regional Jet to Hawaii. There are now 2 aircraft in service and I had the pleasure of flying on one of them today.
The jet seats 70 passengers but today there were only 2 of us for a very unique flying experience. We were directed to the vacant first class area which easily has the most comfortable seats … (4 comments)
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richard dolbeare: Kauai & Maui November Sales Information
- 12/09/08 03:08 AM
November sales statistics from the Kauai & Maui MLS systems have been released and are presented in the tables below. Median sales prices on the two islands continue to be similar except for vacant land which jumped substantially on Maui. The number of sales on Maui are substantially higher (except for vacant land) and exceeds what one would expect solely on the population ratio of 2.2 to 1. Prices on the two islands continue to hold up fairly well (and in some cases are up) although the number of sales have taken a huge hit.
Keep in mind that the data … (2 comments)
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richard dolbeare: More on Kauai Lagoons & Poipu's Kukui'ula
- 11/22/08 05:57 AM
This is to update yesterday's post on a report of work being stopped at Kauai Lagoons Resort. Additional information has been provided in today's Garden Island Newspaper wherein Kauai Lagoons developers are putting a positive spin on what they call a temporary postponement. Per a newspaper interview with the project director, the master plan always called for a multi-year project. The change is that 87 units originally planned for completion in 2009 has been slipped to 2010. And consistent with the Pacific Business News article referenced yesterday, it is reported that infrastructure work, including landscaping, will continue. The first building and … (8 comments)
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richard dolbeare: News Flash--Kauai Lagoons construction halted!
- 11/21/08 03:06 AM
The lead paragraph in today's Pacific Business News (PBN) article on the Marriott Kauai Lagoons resort reads "Marriott has halted construction at its $1.4 billion Kauai Lagoons resort project..." According to PBN, all vertical construction is on hold but infrastructure work will continue. In the past, one might well have assumed that work stoppage was due to permitting problems. But in today's world, the big gorilla in the room is the economy and that is reported to be the issue in this and other stoppages around the island and indeed the state.
Kauai Lagoons is planned to be a mix of several types of … (1 comments)
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richard dolbeare: Home Pick of the Week--Maui
- 11/14/08 10:51 AM
Home Pick of the Week
The home picks of the week is a property that I highlight as a special opportunity for buyers. Picks may be based on features, location, value, or other criteria that I believe makes the property worthy of special consideration. I do not accept fees for featuring a property.
This week's pick is a 5+ acre estate located on the island of Maui in what is called Upcountry because it's on the slopes of the dormant Haleakala volcano.
Contact Richard Dolbeare (RA), ABR, CRS, e-PRO, Century 21 All Islands, (808) 651-4550 for information
[Information contained herein is supplied … (8 comments)
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richard dolbeare: New commercial center planned for Lihue area
- 11/13/08 10:21 AM
The Garden Island newspaper published a lengthy article today on a proposed commercial center in the Lihue area that will include a new Safeway store plus numerous other businesses and offices. Currently, Kauai is served by multiple local grocery chains plus one Safeway located in Kapaa. This would be the 2nd Safeway and it would be located near the islands center of commerce, Lihue.
The planning Commission held a public hearing yesterday where residents had a chance to voice concerns over impact to the neighborhood. The parcel to be developed is about 23 acres adjacent to large commercial outlets of Kukui Grove … (5 comments)
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richard dolbeare: Limits on Kauai growth approved
- 11/12/08 04:04 PM
By almost a 2:1 margin, Kauai voters approved a Counter Charter amendment that was placed on the ballot through a citizens' petition. The new law which takes effect on December 4 puts limits on new transient accommodation units (hotels, timeshares, and vacation rentals). The growth in these units are required to be in compliance with the General Plan which was completed in 2000. According to the Garden Island newspaper, that plan recommends yearly increases not to exceed 1.5%.
How it will be implemented is the big unknown. Decisions must be made as to which permitting requests are approved and which are denied. … (7 comments)
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richard dolbeare: Maui Caravan
- 11/12/08 02:52 PM
Maui held it's Central Caravan today with about 20 agents touring 9 new listings. I always enjoy the opportunity to compare Maui & Kauai inventory (see earlier post for sales statistics) and today was a good one for that. The Central Maui Caravan is unique in that it is operated in true caravan style with agents carpooling from one property to the next. Other caravans I have attended are less structured and agents are free to tour properties in any order. Having experienced both, it's the more structured approach is clearly superior.
Properties on today's caravan ranged from a $290,000 2 bedroom/2 bath condo … (2 comments)
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richard dolbeare: Kauai has new leadership
- 11/12/08 02:37 PM
Bernard Carvalho Jr. was elected as Kauai's new mayor in last week's elections. Kauai is one of 4 counties comprising the state of Hawaii and each county is run by a mayor so this is a responsible position. He defeated Joann Yukimura in the general election with 57% of the vote and will serve as mayor for the next 2 years. That will complete the remainder of former Mayor Brian Baptiste's term which was interrupted by his sudden death on June 23 due to a heart attach.
Mayor Carvalho has stated his #1 priority is assembling his team and the first … (4 comments)
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richard dolbeare: October Sales on Kauai & Maui
- 11/07/08 02:37 PM
October sales statistics from the respective MLS systems have been released for Kauai & Maui and are presented in the tables below. Median sales prices on the two islands continue to be similar except for vacant land which jumped substantially on Maui. The number of sales on Maui are substantially higher (except for vacant land) and exceeds what one would expect solely on the population ratio of 2.2 to 1. Prices on the two islands continue to hold up fairly well (and in some cases are up) although the number of sales have taken a huge hit.
Keep in mind that … (3 comments)
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richard dolbeare: Kauai Inventory Showing Improvement
- 11/07/08 08:50 AM
Is Kauai inventory headed back down after climbing for 3 years and peaking in August? I never take 1 month of data as a trend and am hesitant to call 2 months a trend as well. But for now anyway, it does appear from our MLS data that inventory is on a downward track. My own closings have increased substantially in this period which gives me encouragement. The chart data for all of Kauai follows.
Aloha!
Search Kauai/Big Island | Search Maui | Email | About Me | Visit Website| Phone/Text (808) 651-4550
Engineering Hawaii Dreams Today--Helping Buyers Find Dream Homes & Sellers Find Buyers
… (2 comments)
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richard dolbeare: Kauai Voters Restrict New Vacation Rentals
- 11/05/08 03:35 AM
A Kauai citizens petition to transfer approval of permits for construction of transient accommodation units from the Planning Department to the Kauai County Council was overwhelmingly approved by voters yesterday. This issue was driven by a recent-years spike in such new units that exceeded what was envisioned in the General Plan causing concern about changing the character of Kauai. Approval of new permits will now be restricted to a number consistent with the general plan.
At first glance, this restriction would seem to benefit owners of existing vacation rentals by restricting future supply and therefore driving up occupancy rates. The immediate impact on … (2 comments)
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richard dolbeare: Hawaii Craters?
- 11/04/08 04:44 AM
A report in the Garden Island newspaper today gave new meaning to the word "crater". One of the headlines reads "Hotel occupancy rates crater in Hawai'i".
I track multiple Hawaii statistics and one of these is the hotel occupancy rate. This gives a little insight into our biggest industry which is tourism. Adding the latest data point for Mauai (Kauai figures were not immediately available), the chart now looks like the figure below. September statewide occupancy is reported at 63.2% compared to 74.2% a year ago.
As I've said many times, now is the time for visitors to come to Hawaii … (4 comments)
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richard dolbeare: Kauai Warm & Cold Sales Zones
- 11/01/08 04:38 PM
With no blackberry pie in sight (see earlier post HERE), I had to settle for a pie chart for Kauai sales. This shows which areas of the island are hot (well, warm anyway) and which aren't (the West Side). Data reflects the number of sales in 2008 through October 31 and includes land, condos, and residential, both fee simple and leasehold. Timeshare and fractionals/shared ownership are excluded.
Clearly there is not much going on over on the West Side (where I live). That area includes Hanapepe, Waimea, and Kekaha. The rest of the island is doing much better. Although the central … (8 comments)
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richard dolbeare: Kauai Coconut Coast Resorts Receive Approval
- 10/29/08 07:49 PM
The Garden Island newspaper reports that the Kauai Planning Commission has approved 2 beachfront projects on Kauai's East Side after a court ruling that previous decisions were unconstitutional. The two projects receiving approval are the Coconut Plantation Village and the Coconut Beach Resort. The first will have 192 multi-family units and the second will have 343. Both will have a few hotel rooms as well.
I have not heard whether the projects are actually going to move forward, a question in my mind given the current economic conditions. However the article had no information to the contrary. I'll report more as I … (0 comments)
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The Kauai real estate market continues to be a paradox with some areas a balanced market trending to a seller's market and others firmly entrenched in the red, buyer market region. South Shore condos are especially troublesome for sellers with a 19+ month supply. Yet in Kauai's central Lihue area, supply is down to 5.2 months for both homes and condos. All regions are a huge improvement over that a few years back which is shown for comparison.
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