Aloha,
The news this week is Nihilani. With only 3 units left, (11A, 15B and 2C) the developer announced plans Friday to complete the project by building the last 3 units. Nihilani was originally planned as a 102 unit community but to date, consisted of only 99 units with the location of the last building, building 12, functioning as a parking lot. Pricing on these last three "pre-construction" units are $480K for a Moana (12A) $570K for the Makani floor plan (12B) and $580K for the upstairs Mahina (12C). I never thought I'd see this happen given the difficulty they've had selling the inventory they have now but that just goes to show, you never know. Still, I'll wait until I see the construction to believe it. Here is your update for this week:
Copyright 3/14/2010 by Hawaii Information Service
NEW LISTINGS
232998 T A 1 4-5-3-6-22-17 FS $1,495,000 Kaiulani Of Princeville #17 2,864 #17 3/3.5
232853 T A 3 4-5-4-15-21-8 FS $245,000 Sandpiper Village I #108 1,042 #108 2/2
232843 T A 4 4-5-4-12-11-14 FS $1,250,000 Puu Poa #114 2,065 #114 2/2
232983 T S 0 4-5-4-5-24-32 FS $565,000 Nihilani At Princeville Resort #11B 1,874 #11B 3/2.5
SOLD 3/12/2010 for $565,000 (CASH) DOM 0
232902 T S 0 4-5-4-6-1-20 FS $869,000 Villas Of Kamalii #20 1,825 #20 3/3
SOLD 3/12/2010 for $835,000 (CNV) DOM 0
CONTINGENT SALES
230720 T C 69 4-5-4-5-27-18 FS $295,000 Hale Honu #9B 1,085 #9B 3/2
SALES
222233 T S 180 4-5-4-5-39-45 FS $250,000 Cliffs At Princeville #2205 917 #2205 1/2
SOLD 3/11/2010 for $245,000 (CNV) DOM 180
229003 T S 81 4-5-4-5-24-8 FS $385,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
SOLD 3/4/2010 for $380,000 (CNV) DOM 81
232983 T S 0 4-5-4-5-24-32 FS $565,000 Nihilani At Princeville Resort #11B 1,874 #11B 3/2.5
SOLD 3/12/2010 for $565,000 (CASH) DOM 0
232902 T S 0 4-5-4-6-1-20 FS $869,000 Villas Of Kamalii #20 1,825 #20 3/3
SOLD 3/12/2010 for $835,000 (CNV) DOM 0
228145 T S 100 4-5-4-12-11-3 FS $999,000 Puu Poa #103 1,771 #103 2/2
SOLD 3/11/2010 for $900,000 (CNV) DOM 100
WITHDRAWN
221506 T W 345 4-5-3-6-22-17 FS $1,899,000 Kaiulani Of Princeville #17 2,864 #17 3/3.5
221617 T W 346 4-5-3-6-22-16 FS $3,100,000 Kaiulani Of Princeville #16 2,843 #16 3/3.5
208801 T W 676 4-5-4-11-3-84 FS $399,000 Hanalei Bay Resort #N22 867 #N22 1/2
226709 SH W 463 4-5-4-5-23-30 FS $445,000 Plantation At Princeville #812 1,153 #812 2/2
TEMPORARILY WITHDRAWN
226997 T T 192 4-5-4-5-18-71 FS $369,000 Puamana #20A 1,532 #20A 2/2
PRICE CHANGES
222344 SH A 360 4-5-4-5-23-23 FS $149,000- Plantation At Princeville #621 1,318 #621 3/3
222343 SH A 360 4-5-4-5-23-23 FS $149,000- Plantation At Princeville #621 1,318 #621 3/3
222341 SH A 360 4-5-4-5-23-23 FS $149,000- Plantation At Princeville #621 1,318 #621 3/3
222340 SH A 261 4-5-4-5-23-23 FS $149,000- Plantation At Princeville #621 1,318 #621 3/3
230827 T A 66 4-5-4-5-27-3 FS $209,900- Hale Honu #2A 866 #2A 2/1
228387 T A 153 4-5-4-5-18-30 FS $327,777- Puamana #8C 1,532 #8C 2/2
231562 T A 31 4-5-4-5-4-2 FS $399,000- Princeville Mauna Kai #2A 1,503 #2A 2/2
228165 T A 160 4-5-4-12-10-27 FS $499,000- Emmalani Court #415 1,456 #415 2/2
216921 T A 516 4-5-4-5-23-3 FS $598,000- Plantation At Princeville #121 1,318 #121 3/3
226466 T A 200 4-5-4-5-16-36 FS $685,000+ Alii Kai At Hanalei #4304 1,086 #4304 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.
Ka'iulani 17 comes back on the market this week with a new agent and a new low price of $1.495M. Purchased for $1,971,790 in 1/08, you'll also see this unit under the withdrawn section of the update as it was previously on the market for $1.899M. When it was first listed in 3/09 the list price was $2,399,900. Sandpiper 108 enters the market again priced at $245K, this time as a short sale. This unit sold for $485K in 6/05 and was previously listed from 6/06 to 6/07 during which time it went from $510K to $470K and again from 8/07 to 9/08 when it was listed for $440K. Pu'u Po'a 114 is yet another "relist" coming on the market this time at $1.250M. 114 was listed from 3/07 to 7/07 for $1.975M at which time it was withdrawn from the market. It was also listed from 8/07 to 12/09, starting at $1.849M and dropping to $1.425M when it was withdrawn.
Nihilani 11B is a developer's unit which is being listed for the purpose of reporting a sale, as you'll see this unit also mentioned under "sales." This Makani unit was priced at $565K and sold for the same. It was previously listed from 4/08 to 2/09 for $780,500 at which time it was withdrawn.
Villas of Kamali'I 20 was previously listed as a 2 month fractional share for $265K from 5/08 to 7/09 then as a whole unit from 7/09 to 11/09 for $995K. Someone obviously saw it back then, as it now comes on the market at $869K showing as sold with zero market days. This unit last sold for $845K in 6/08.
Hale Honu 9B, priced at a very attractive $295K went into escrow this week. It's been a long time coming having been listed before from 4/08 to 4/09 starting at $450K and ending at $350K when it expired. It came back on the market in 1/10 priced at $350K and has been declining since then, reaching the price of $295K on 2/17/10. This is an agent owned unit.
Cliffs 2205, a short sale that sold for $425K in 10/06, closed this week for $245K. Cliffs was purchased in 10/06 for $425K. Two Nihilani developer units closed : one is Nihilani 3B, a Hoku unit which sold for $385K and the other is the Makani unit 11B (as noted under the new listings portion of this report) which closed for $565K. Slowly but surely they are clearing their inventory. Other sales are Villas of Kamali'i 20 (also referenced under new listings) which sold for $835K with a list price of $869K and a purchase price of $845K in 6/08 and Pu'u Po'a 103, which closed at $900K with a list price of $999K. 103 sold for $695K in 7/03 netting this seller something rare in this market - a profit!
Two Ka'iulani unit, both owned by the same seller, were withdrawn. Unit 17 priced at $1.899K was taken off the market after 345 days with an original purchase price of $1,971,790 (and quickly relisted.) Unit 16, purchased for $2,127,240 in 6/06 was also withdrawn. Hanalei Bay Resort N22 came off the market after 676 market days priced at $399K. Purchased in 1/06 for $469,900, this unit started out at $550K falling to a low of $329K before ending up at $399K. A 10 month fractional share of Plantation 812 listed for $445K which was purchased for $729K in 6/06 was taken off the market along with Puamana 20, which which was temporarily withdrawn while listed for $369K. This unit last sold for $170K in 9/01.
On to price changes: 4 fractional offerings of Plantation 621 were reduced a whole $1000 from $150K to $149K which is sure to drive buyers into a buying frenzy. This unit sold for $550K in 8/05. Hale Honu 2A, a bank REO, reduced from $224,900 to $209,900. This unit was purchased in 5/02 for $155K and foreclosed on by the bank in 10/09. Puamana 8C, purchased as a leasehold unit in 7/88 for $95K and "converted" to fee simple in 5/00 for $35,700 went from $377,777 to $327,777. Mauna Kai 2A was reduced to $399K from $425K. Emmalani Court 415 went from $529K to $499K and sold for $610K in 5/05. Plantation 121 was purchased for $488,993 in 5/05 and reduced this week from $629K to $598K while Ali'I Kai 4304, which last sold for $541,500 in 2/04 was the sole price increase, going from $660K to $685K. This unit started out at $940K 198 days ago and has very slowly worked its way down to $660K before rebounding this week. If you can't sell low, maybe you can sell high. On to your Princeville home update:
Copyright 3/14/2010 by Hawaii Information Service
NEW LISTINGS
232759 RS A 6 4-5-4-10-28 FS $779,000 5230 Honoiki Rd 10,189 sqft 1,688 3/2
BACK ON THE MARKET
229705 RS A 266 4-5-4-19-19 FS $670,800 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
CONTINGENT SALES
224862 RS C 257 4-5-4-13-63 FS $679,000 3737 Albert Rd 10,665 sqft 2,219 3/2
WITHDRAWN
224854 RS W 160 4-5-4-19-19 FS $670,800 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
PRICE CHANGES
224597 RS A 283 4-5-3-12-27 FS $1,195,000- 3962 Aloalii Dr 8,327 sqft 3,290 2/3
227009 RS A 145 4-5-3-12-3 FS $1,880,000- 4043 Aloalii Dr 8,972 sqft 3,588 3/3.5
214254 RS A 592 4-5-4-18-20 FS $895,000- 4173 Kalani Pl 10,630 sqft 3,464 4/3.5
227655 RS A 166 4-5-4-16-68 FS $1,245,000- 4401 Emmalani Dr 12,937 sqft 2,137 3/2
221404 RS A 385 4-5-4-14-32-5 FS $1,390,000- 3875 Kamehameha Rd #5 10,332 sqft 3,709 6/6
209612 RS A 704 4-5-4-4-45-2 FS $6,500,000- 4901 Hanalei Plant Rd 24,799 sqft 2,482 3/3.5
227993 RS C 165 4-5-4-18-24 FS $567,000- 4679 Emmalani Dr 11,128 sqft 1,861 3/3
224854 RS W 160 4-5-4-19-19 FS $670,800- 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.
That's it for this week. It's another overcase, cloudy day after a gloriously sunny day on Saturday. Still, it's paradise and I'll take it any day of the week. If you have questions and need answers give me a try before you buy or sell. If I don't know the answer, I'll do my best to find out!
Aloha Elaine
A sunny day over Hanalei Bay......
Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
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: http://blogs.alohaliving.com/princeville-condo-sales/
......you can have your own piece of paradise
ask me how!
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