Princeville condo (and house) update for the week of March 23rd to 29th

By
Real Estate Broker/Owner with Sold on Kauai Realty RB-18142

Aloha,

We've had another week of spectacular weather just to my liking. Not too hot with bright blue skies. If you've been wondering about our temperatures during the winter months, this winter has been very mild. In the past, on occasion the temps have gone down into the low 60's at night. I can even recall a few times when it went as low as 59! This is not the norm and when it happens, you will find me in my seldom used sweatpants and sweatshirt. During the day the temps are in the high 70's to low 80's. Perfect for hinking, enjoying the beach, water sports and whatever else you want to do. Our temps don't get that high during the summer either making it ideal weather all year round.

The market seems to have dropped off a bit leading up to and after Easter. Still some people looking out there but not a lot of activity. April and May are traditionally slower times of the year as families start thinking and preparing for upcoming Summer vacations! With interest rates so low and prices soft, it's a still a great time to buy. I wonder how many of the buyers still sitting on the sidelines will be kicking themselves later on, saying "I wish I had...." Here is your update for last week:

Copyright 3/30/2008 by Hawaii Information Service

NEW LISTINGS
209287 T A 3 4-5-3-6-22-7 FS $1,950,000 Kaiulani Of Princeville #7 2,864 #7 3/3.5
208860 SH A 6 4-5-4-5-23-35 FS $200,000 Plantation At Princeville #921 1,318 #921 3/3
209158 T A 3 4-5-4-15-21-53 FS $399,000 Sandpiper Village I #216 1,173 #216 3/2.5
208801 T A 2 4-5-4-11-3-84 FS $550,000 Hanalei Bay Resort #N22 867 #N22 1/2
209200 T A 4 4-5-4-5-7-5 FS $750,000 Princeville Sealodge #A5 564 #A5 1/1
209062 T A 5 4-5-4-5-24-51 FS $875,000 Nihilani At Princeville Resort #17C 1,874 #17C 3/2.5

SALES
208286 T S -87 4-5-3-6-22-63 FS $975,000 Kaiulani Of Princeville #63 1,901 #63 2/2.5
SOLD 3/27/2008 for $975,000 (CASH, CNV) DOM -87

EXPIRED
193435 T X 361 4-5-4-6-1-1 FS $935,000 Villas Of Kamalii #1 1,761 #1 3/3

WITHDRAWN
203934 T W 128 4-5-3-6-22-22 FS $2,395,000 Kaiulani Of Princeville #22 2,864 #22 3/3.5
208333 T W 8 4-5-4-5-30-6 FS $499,000 Princeville Mauna Kai #F6 1,400 ##5 3/2
193495 T W 361 4-5-4-12-2-16 FS $525,000 Hale Moi #116 1,033 #116 1/2
201944 T W 171 4-5-4-12-11-46 FS $1,450,000 Puu Poa #404 1,352 #404 2/2

PRICE CHANGES
205059 T A 80 4-5-3-11-1-3 FS $808,000- Villas On The Prince #3 1,737 #3 3/3
203022 T A 156 4-5-3-11-1-30 FS $815,000- Villas On The Prince #30 1,761 #12-30 3/3
205973 T A 75 4-5-3-6-22-48 FS $1,799,000- Kaiulani Of Princeville #48 2,476 #48 3/3
200357 T A 215 4-5-4-5-23-42 FS $550,000- Plantation At Princeville #1112 1,153 #1112 2/2
198438 T A 254 4-5-4-12-2-31 FS $550,000- Hale Moi #211 1,033 #211 1/2
201267 T A 195 4-5-4-5-24-87 FS $759,000- Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
186819 T A 504 4-5-4-6-1-20 FS $855,000- Villas Of Kamalii #20 1,825 #20 3/3
199811 T A 222 4-5-4-5-39-191 FS $865,000- Cliffs At Princeville #9201 963 #9201 1/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Yet another Ka'iulani came on the market this week, unit #7 listed at $1.950M. This is a developer's unit which brings the total number of developer's offerings up to 6. Plantation 921 is also new on the market this week, having been purchased for $750K in 10/05. The owner then sold 25% interest to another party for $181K on 3/06 and together, they are apparently offering the unit as a fractional for $200 for each 60 day segment. They are going to have some stiff competition from unit 621 which is also a 3 bedroom on the market for $165K. Here are the competing fractionals in this complex:

Copyright 3/24/2008 by Hawaii Information Service

208766 SH A 68 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206100 SH A 68 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206099 SH A 68 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206098 SH A 68 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
206097 SH A 68 4-5-4-5-23-23 FS $165,000 Plantation At Princeville #621 1,318 #621 3/3
183270 SH A 581 4-5-4-5-23-30 FS $165,000 Plantation At Princeville #812 1,153 #812 2/2
183269 SH A 581 4-5-4-5-23-30 FS $165,000 Plantation At Princeville #812 1,153 #812 2/2
183266 SH A 581 4-5-4-5-23-30 FS $165,000 Plantation At Princeville #812 1,153 #812 2/2
183271 SH A 581 4-5-4-5-23-30 FS $170,000 Plantation At Princeville #812 1,153 #812 2/2
183267 SH A 581 4-5-4-5-23-30 FS $170,000 Plantation At Princeville #812 1,153 #812 2/2
204980 SH A 41 4-5-4-5-23-28 FS $198,000 Plantation At Princeville #722 1,318 #722 3/3
208860 SH A 0 4-5-4-5-23-35 FS $200,000 Plantation At Princeville #921 1,318 #921 3/3

Sandpiper 216 was my pick of the day on Thursday, coming on the market at $399K making it the lowest priced unit in the entire complex. Here's the rundown on the current Sandpiper listings:

Copyright 3/30/2008 by Hawaii Information Service

209158 T A 3 4-5-4-15-21-53 FS $399,000 Sandpiper Village I #216 1,173 #216 3/2.5
206436 T A 62 4-5-4-15-21-7 FS $419,000 Sandpiper Village I #107 1,042 #107 2/2
198214 T A 245 4-5-4-15-21-15 FS $429,000 Sandpiper Village I #115 1,042 #115 2/2
199242 T A 242 4-5-4-15-21-8 FS $440,000 Sandpiper Village I #108 1,042 #108 2/2
205685 T A 81 4-5-4-15-21-21 FS $459,000 Sandpiper Village I #121 1,042 #121 2/2
196998 T A 292 4-5-4-15-21-43 FS $460,000 Sandpiper Village I #206 1,173 #206 2/2.5
205596 T A 78 4-5-4-15-21-30 FS $480,000 Sandpiper Village I #130 1,042 #130 2/2
203239 T A 149 4-5-4-15-21-34 FS $535,000 Sandpiper Village I #134 1,042 #134 2/2
202357 T A 158 4-5-4-15-21-73 FS $535,000 Sandpiper Village I #236 1,173 #236 2/2.5
181966 T A 604 4-5-4-15-21-50 FS $549,999 Sandpiper Village I #213 1,173 #213 3/2.5

Sandpiper unit 216 was previously listed for 768 days from 9/05 and ending in 3/07, starting at $589K and reducing down to $489K. It was purchased in 7/86 for $81,500. At this price, it should go fast!

Hanalei Bay Resort N22 is back on the market again, having been previously listed for 768 days from 1/06 to 2/08, starting at $599K and moving down to $450K before it was withdrawn by the agent, who is part owner. It is now on the market as a brand new listing with a starting price of $550K! Like I've said in the past, if you can't sell low, try selling high. This property is also on the market as a fractional, with 805 DOM and list prices from $99K to $149K depending on the time segment purchased. The unit was purchased in 1/06 for $469,900.

Sealodge #5 is one the market at $750K for the first time since it sold in 7/01 for $225,500. Nihilani 17C is another owner/agent offering, coming on the market at $875K with a purchase price in 8/06 of $822,870. This seller has a lot competition from other 3 bedroom units at more favorable pricing. Here are the three bedrooms units currently on the market. The first unit, #27B is the smaller Hoku model with 1,567 sqft. One of the units, #7C is the largesr Mahina floor plan offering 1972 sqft.

Copyright 3/28/2008 by Hawaii Information Service

208287 T A 23 4-5-4-5-24-80 FS $699,000 Nihilani At Princeville Resort #27B 1,567 #27B 3/2.5
201267 T A 193 4-5-4-5-24-87 FS $759,000 Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
200223 T A 217 4-5-4-5-24-40 FS $769,000 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
200673 T A 209 4-5-4-5-24-21 FS $812,200 Nihilani At Princeville Resort #7C 1,972 #7C 3/3
207389 T A 30 4-5-4-5-24-44 FS $819,200 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5
194193 T A 352 4-5-4-5-24-39 FS $835,000 Nihilani At Princeville Resort #13C 1,874 #13C 3/2.5
209062 T A 3 4-5-4-5-24-51 FS $875,000 Nihilani At Princeville Resort #17C 1,874 #17C 3/2.5

Sales this week included a developer's Ka'iulani #63 for $975K. Villas of Kamali'i #1 expired after 361 DOM starting at $1.075M and reducing down to $935K. This unit was purchased in 3/05 for $743K.

Ka'iulani #22 came off the market after only 128 market days, starting out at $2.4M and trying to appear more attractively priced by moving down to $2.395M. This property was purchased in 11/07 for $1,758,070. Mauna Kai #5, which just came on the market last week was withdrawn this week for some unknown reason. Hale Moi 116 gave up after 361 DOM and a price decrease from $599K to $525K. Pu'u Po'a 404 was also withdrawn from the market after getting no takers listed for $1.450M. This unit came on the market at $1.675M which is more than unit 305 closed for last week. 305, as you may recall, closed for $1.535M and is a highly successful vacation rental with great occupancy. Unit 404 was purchased in 7/91 for $325K but I guess no one wanted to take on the challenge of doing the major remodel necessary to bring this unit up to par nor did the seller wish to reduce to a price where buyers would find it attractive.

Our update would not be complete without our ever present price changes. Starting out with Villas on the Prince #3 which moved from $818K to $808K putting it firmly in short sale territory with a purchase price of $840K in 9/05. This unit originally came on the market at $850K 78 days ago. Another Villas on the Prince, #30 also reduced down from $819K to $815K. This unit started at $860K then optimistically moved up to $935K before getting on the downward trend bandwagon. It was puchased in 3/04 for $565K.

Ka'iulani #48 saw it's first price decrease since being listed 71 days ago. It was purchased in 9/07 for $1,502,610 and went from $190M to $1.799M. The most recent sale of a 3 bed/ 3.5 bath/2443 sqft unit, #48 occured on 3/20/08 for $1.650M down from the original purchase price of $1,861,490. We'll see how this new one does.

Plantation 1112 took another price decrease this week down from $565K to $550K. It was previously decreased from $570K to $565K on 3/17 and was purchased in 11/05 for $430K. Hale Moi 211 joined the reduction ranks moving from $575K to $550. This unit started out at $599K and was purchased in 7/99 for $128K. Nihilani 29C is unfortunately getting close to what the seller paid for it, moving from $785K to $759K, having started out at $869,900. This unit was purchased in 7/06 for $747,320. Yet another Villas, the Villa of Kamali'i #20 had a price decrease from $874,900 to $855, having started at $995K. The purchase price for this unit was $709K in 10/04.

Cliffs 9201 was reduced after 216 DOM from $939K to $865K, having started at $975K. This unit was purchased in 12/86 for $135K as a leasehold unit, and the fee was obtained in 11/91 for $22,500. This pricing is still well above recent sales of oceanview units. These are the sales in other ocean view units since 1/1/07:

Copyright 3/24/2008 by Hawaii Information Service

195791 T S 33 4-5-4-5-39-160 FS $599,000 Cliffs At Princeville #7202 917 #7202 1/2
SOLD 7/31/2007 for $575,000 (CNV) DOM 33

188360 T S 264 4-5-4-5-39-123 FS $615,000 Cliffs At Princeville #5201 963 #5201 1/2
SOLD 10/19/2007 for $550,000 (CNV) DOM 264

190979 T S 322 4-5-4-5-39-100 FS $620,000 Cliffs At Princeville #4206 917 #4206 1/2
SOLD 2/21/2008 for $570,000 (CNV) DOM 322

185461 T S 290 4-5-4-5-39-96 FS $639,000 Cliffs At Princeville #4202 917 #4202 1/2
SOLD 9/12/2007 for $590,000 (CNV) DOM 290

195704 T S 53 4-5-4-5-39-114 FS $739,000 Cliffs At Princeville #4310 1,281 #4310 2/2
SOLD 8/31/2007 for $682,500 (CNV) DOM 53

Please note that the last unit is a third floor unit, which has 2 bedrooms 2 baths. None of these units have as good a view as building 9 - the question is, does the view warrant a $300K premium?

As for Princeville Houses this week, this is what happened to in the residential arena:

Copyright 3/30/2008 by Hawaii Information Service

NEW LISTINGS
209282 RS A 2 4-5-4-16-26 FS $1,350,000 4979 Emmalani Dr 10,895 sqft 2,381 3/2.5
209176 RC W 1 4-5-4-6-1-12 FS $900,000 Lei O Papa Rd #12 1,825 3/3

BACK ON THE MARKET
208034 RS A 2 4-5-4-16-72 FS $1,788,000 4436 Emmalani Dr 10,034 sqft 3,444 4/3

CONTINGENT SALES
195550 RS C 324 4-5-3-12-9 FS $1,690,000 4001 Aloalii Dr 8,081 sqft 3,461 2/3
208282 RS C 25 4-5-4-8-23 FS $895,000 5070 Kamamalu Loop 11,067 sqft 1,755 3/3.5
200621 RS C 211 4-5-4-21-7 FS $1,299,000 3770 Cr Kaweonui Rd/alber 10,737 sqft 2,184 3/2.5

SALES
203558 RS S 49 4-5-3-11-43 FS $1,725,000 4128 Aloalii Dr 10,616 sqft 3,054 3/3.5
SOLD 3/28/2008 for $1,648,000 (CNV) DOM 49

201643 RS S 139 4-5-4-23-7 FS $725,000 4834 Ou Pl 7,650 sqft 1,200 3/2.5
SOLD 3/28/2008 for $675,000 (CNV) DOM 139

203965 RS S 77 4-5-4-20-3 FS $1,199,000 5121 Kapi'olani Loop 30,742 sqft 1,989 3/2.5
SOLD 3/25/2008 for $1,100,000 (CNV) DOM 77

WITHDRAWN
204430 RS W 113 4-5-4-17-42 FS $839,000 4824 Victoria Loop 11,429 sqft 1,281 3/2
209176 RC W 1 4-5-4-6-1-12 FS $900,000 Lei O Papa Rd #12 1,825 3/3
207583 RS W 35 4-5-4-8-47 FS $3,275,000 5045 Kapiolani Lp 16,502 sqft 4,226 5/4.5

TEMPORARILY WITHDRAWN
199057 SH T 245 4-5-4-16-22 FS $375,000 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5

PRICE CHANGES
168524 RS A 850 4-5-4-22-4 FS $685,000- 4087 Nalani Ln 11,244 sqft 1,424 3/2
200685 RS A 206 4-5-4-15-6 FS $753,000- 3881 Albert Rd 11,515 sqft 1,272 3/2
208005 RS A 24 4-5-4-13-54 FS $894,725- 3646 Keoniana Rd 11,539 sqft 1,578 3/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Sometimes, just for fun, I like to see how new listings stack up against sales, on an Island wide basis. Here is how the Condo activity looked for last week for the Island as a whole:

Copyright 3/30/2008 by Hawaii Information Service

NEW LISTINGS
207644 T A 6 4-2-6-7-13-8 FS $1,975,000 Whalers Cove At Poipu #117 1,318 #117 2/2
209135 SH A 5 4-2-8-27-26-2 FS $225,000 Regency Villas At Poipu Kai #111 1,258 #111 2/2
209316 T A 2 4-2-8-19-22-33 FS $915,000 Nihi Kai Villas #521 1,279 #521 2/2
208949 T A 4 4-2-8-19-4-14 FS $1,249,000 Poipu Shores #A207 963 #A207 2/2
209030 T A 3 4-3-7-3-15-237 FS $339,999 Kauai Beach Resort #2544 320 #2544 0/1
209035 T A 3 4-3-7-3-15-364 FS $424,000 Kauai Beach Resort #4214 360 #4214 0/1
208911 T A 6 4-3-7-3-14-40 FS $539,000 Kauai Beach Villas #C4 684 #C4 1/1
208924 T A 2 4-4-3-8-1-30 FS $1,195,000 Waipouli Beach Resort #B104 1,158 #B104 2/3
208872 T A 1 4-4-3-8-1-146 FS $1,550,000 Waipouli Beach Resort #G104 1,158 #G104 2/3
209331 T A 2 4-4-6-16-5-42 FS $399,000 Kawaihau Sports Villa #N201 1,204 #N201 3/2
209287 T A 3 4-5-3-6-22-7 FS $1,950,000 Kaiulani Of Princeville #7 2,864 #7 3/3.5
208860 SH A 6 4-5-4-5-23-35 FS $200,000 Plantation At Princeville #921 1,318 #921 3/3
209158 T A 3 4-5-4-15-21-53 FS $399,000 Sandpiper Village I #216 1,173 #216 3/2.5
208801 T A 2 4-5-4-11-3-84 FS $550,000 Hanalei Bay Resort #N22 867 #N22 1/2
209200 T A 4 4-5-4-5-7-5 FS $750,000 Princeville Sealodge #A5 564 #A5 1/1
209062 T A 5 4-5-4-5-24-51 FS $875,000 Nihilani At Princeville Resort #17C 1,874 #17C 3/2.5
208553 T W 2 4-2-8-17-26-55 LH $450,000 Kiahuna Ph Ii #84 620 #84 1/1

BACK ON THE MARKET
193285 T A 371 4-2-8-17-10-4 LH $249,000 Kiahuna Plantation #404 640 #404 1/1

CONTINGENT SALES
207850 T C 36 4-2-8-20-3-12 FS $549,950 Makahuena #I302 1,172 #1-302 3/2.5

SALES
203996 T S 39 4-2-8-17-10-42 LH $249,000 Kiahuna Plantation #442 640 #442 1/1
SOLD 3/25/2008 for $239,500 (CNV) DOM 39

190357 T S 155 4-2-8-17-26-44 LH $750,000 Kiahuna Ph Ii #73 620 #73 1/1
SOLD 3/24/2008 for $675,000 (CASH) DOM 155

198998 T S 125 4-3-3-3-39-92 FS $487,777 Villas At Puali #92 1,392 #92 3/2.5
SOLD 3/28/2008 for $485,000 (PMM) DOM 125

197557 T S 208 4-4-3-2-13-150 FS $345,000 Islander On The Beach #351 372 #351 0/1
SOLD 3/25/2008 for $330,000 (PMM) DOM 208

208286 T S -87 4-5-3-6-22-63 FS $975,000 Kaiulani Of Princeville #63 1,901 #63 2/2.5
SOLD 3/27/2008 for $975,000 (CASH, CNV) DOM -87

EXPIRED
206535 T X 61 4-2-8-19-22-33 FS $919,000 Nihi Kai Villas #521 1,279 #521 2/2
193507 T X 320 4-2-8-20-8-68 FS $1,950,000 Poipu Sands #523 1,371 #523 2/2
193492 T X 365 4-3-3-3-48-72 FS $589,000 Regency Huleia #72 1,282 #72 2/2.5
193576 T X 363 4-3-7-3-15-46 FS $295,000 Kauai Beach Resort #1201 320 #1201 0/1
193622 T X 361 4-3-7-3-15-203 FS $385,000 Kauai Beach Resort #2504 320 #2504 0/1
193435 T X 361 4-5-4-6-1-1 FS $935,000 Villas Of Kamalii #1 1,761 #1 3/3

WITHDRAWN
208553 T W 2 4-2-8-17-26-55 LH $450,000 Kiahuna Ph Ii #84 620 #84 1/1
203198 T W 143 4-3-9-6-4-39 FS $735,000 Kaha Lani #216 996 #216 2/2
2705952 T W 366 4-4-3-2-13-137 FS $339,000 Kuhio Hwy 372 #248 0/1
2706188 T W 366 4-4-3-2-13-138 FS $339,000 Kuhio Hwy 372 #249 0/1
203934 T W 128 4-5-3-6-22-22 FS $2,395,000 Kaiulani Of Princeville #22 2,864 #22 3/3.5
208333 T W 8 4-5-4-5-30-6 FS $499,000 Princeville Mauna Kai #F6 1,400 ##5 3/2
193495 T W 361 4-5-4-12-2-16 FS $525,000 Hale Moi #116 1,033 #116 1/2
201944 T W 171 4-5-4-12-11-46 FS $1,450,000 Puu Poa #404 1,352 #404 2/2

PRICE CHANGES
206750 T A 54 4-2-8-16-7-7 LH $800,000- Kiahuna Ph Iv A #207 1,184 #207 2/2
203856 T A 136 4-2-8-19-4-13 FS $1,275,000- Poipu Shores #A206 912 #A206 2/2
203483 T A 137 4-3-7-3-15-193 FS $239,000- Kauai Beach Resort #2443 320 #2443 0/1
205489 T A 87 4-3-9-6-4-36 FS $599,000- Kaha Lani #116 739 #116 1/1.5
204443 T A 117 4-4-3-2-13-4 FS $210,000- Islander On The Beach #103 372 #103 0/1
185095 T A 551 4-4-3-8-1-55 FS $695,000- Waipouli Beach Resort #C301 1,158 #C301 2/3
205059 T A 80 4-5-3-11-1-3 FS $808,000- Villas On The Prince #3 1,737 #3 3/3
203022 T A 156 4-5-3-11-1-30 FS $815,000- Villas On The Prince #30 1,761 #12-30 3/3
205973 T A 75 4-5-3-6-22-48 FS $1,799,000- Kaiulani Of Princeville #48 2,476 #48 3/3
200357 T A 215 4-5-4-5-23-42 FS $550,000- Plantation At Princeville #1112 1,153 #1112 2/2
198438 T A 254 4-5-4-12-2-31 FS $550,000- Hale Moi #211 1,033 #211 1/2
201267 T A 195 4-5-4-5-24-87 FS $759,000- Nihilani At Princeville Resort #29C 1,874 #29C 3/2.5
186819 T A 504 4-5-4-6-1-20 FS $855,000- Villas Of Kamalii #20 1,825 #20 3/3
199811 T A 222 4-5-4-5-39-191 FS $865,000- Cliffs At Princeville #9201 963 #9201 1/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

There you have it, 16 new listings (one was withdrawn upon being listed) and 1 unit that went into escrow! Any questions, you know who to ask. The information I have in this blog is pretty much available for any property on the Island and I'm always happy to research a property of interest. Have a great week and keep the tradewinds at your back!

Aloha, Elaine

end-of-trail.jpg

Elaine Schaefer (R, GRI, ABR)
Broker in Charge - Princeville Resort Office
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

......you can have your own piece of paradise
ask me how!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Hawaii Kauai County Princeville
Tags:
hawaii
hawaii real estate
kauai
princeville
hawaii condos
kauai condos
kauai real estate
princeville condos princeville real estate

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
289,445

Elaine Schaefer

R, CRS, GRI, ABR, SFR
Ask me a question
*
*
*
*
Spam prevention