Princeville condo (and house) update for the week of June 1st to 7th

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

Aloha,

Hate to sound repetitive, but it was another sublime week here on Kauai. We had a little bit of rain one day, late in the afternoon, but it was so brief, it only interrupted my riding (horseback) briefly. Over at the stable, you can see weather as it comes in across the adjacent acreage. On this particular day, I was riding in 10 minute increments, then dashing out to stand under the cover of the "wash rack" for two minutes as I watched the rain pass overhead and continue on to Hanalei Bay. That's just another one of many things I love about the Island: watching the weather. It was funny that it seemed to be so perfectly timed so as to arrive every 10 minutes. Ride for 10, wait for 2 and so on. My horse liked it though, less work for her.

On to your update:

Copyright 6/8/2008 by Hawaii Information Service

NEW LISTINGS
211781 T A 6 4-5-4-5-3-24 FS $427,000 Princeville Paniolo #211 1,058 #211 1/2
211887 T A 4 4-5-4-15-21-28 FS $479,000 Sandpiper Village I #128 1,042 #128 2/2
212164 T A 4 4-5-4-15-21-65 FS $539,000 Sandpiper Village I #228 1,173 #228 2/2.5
212089 T A 5 4-5-4-5-3-23 FS $599,700 Princeville Paniolo #210 1,058 #210 1/2
210501 T A 4 4-5-4-5-7-34 FS $775,000 Princeville Sealodge #D5 570 #D5 1/1
212117 T A 3 4-5-4-5-39-175 FS $1,490,000 Cliffs At Princeville #8201 963 #8201 1/2
211994 T A 6 4-5-4-5-52-2 FS $1,650,000 Orchid Point #B 1,435 #B 2/2.5
211974 T A 5 4-5-4-5-52-1 FS $1,675,000 Orchid Point #A 1,477 #A 2/2.5
211530 T A 5 4-5-4-12-11-24 FS $1,888,000 Puu Poa #210 1,700 #210 2/2

CONTINGENT SALES
208668 T C 80 4-5-4-12-5-28 LH $635,000 Pali Ke Kua Incr I, ii, iii #210C 1,127 #210C 2/2
210698 T C 102 4-5-4-5-24-25 FS $659,200 Nihilani At Princeville Resort #9A 1,406 #9A 2/2
207651 T C 102 4-5-4-5-24-29 FS $699,200 Nihilani At Princeville Resort #10B 1,567 #10B 2/2.5

SALES
200357 T S 240 4-5-4-5-23-42 FS $525,000 Plantation At Princeville #1112 1,153 #1112 2/2
SOLD 6/3/2008 for $498,500 (CNV) DOM 240

206801 T S 72 4-5-4-5-7-48 FS $759,000 Princeville Sealodge #E10 633 #E-10 1/1
SOLD 6/3/2008 for $720,000 (CASH) DOM 72

EXPIRED
196884 T X 364 4-5-4-5-18-68 FS $519,000 Puamana #19B 1,660 #19B 3/2
186746 T X 578 4-5-4-5-7-14 FS $649,000 Princeville Sealodge #B6 566 #B6 1/1
208287 T X 90 4-5-4-5-24-80 FS $699,000 Nihilani At Princeville Resort #27B 1,567 #27B 3/2.5
194640 T X 366 4-5-4-12-9-27 FS $890,000 Pali Ke Kua Iii #237 1,135 #237 2/2
WITHDRAWN
189728 T W 489 4-5-4-5-12-19 FS $599,999 Sealodge Ii #H1 556 #H1 1/1

TEMPORARILY WITHDRAWN
210701 T T 1 4-5-4-5-24-4 FS $630,000 Nihilani At Princeville Resort #2A 1,406 #2A 2/2
210601 T T 101 4-5-4-5-24-29 FS $643,300 Nihilani At Princeville Resort #10B 1,567 #10B 2/2.5
207652 T T 101 4-5-4-5-24-25 FS $659,200 Nihilani At Princeville Resort #9A 1,406 #9A 2/2
207389 T T 101 4-5-4-5-24-44 FS $819,200 Nihilani At Princeville Resort #15B 1,874 #15B 3/2.5
207650 T T 101 4-5-4-5-24-99 FS $849,200 Nihilani At Princeville Resort #33C 1,972 #33C 2/3

PRICE CHANGES
208189 T A 93 4-5-3-11-1-29 FS $749,000- Villas On The Prince #29 1,732 #29 3/3
207661 T A 106 4-5-4-5-4-5 FS $479,000- Ka'eo Kai Ph I #5A 1,503 #5A 2/2
188592 T A 550 4-5-4-5-24-63 FS $625,000- Nihilani At Princeville Resort #21C 1,972 #21C 2/3
210700 T A 40 4-5-4-5-24-98 FS $664,200+ Nihilani At Princeville Resort #33B 1,406 #33B 2/2
210596 T A 41 4-5-4-5-24-23 FS $665,200+ Nihilani At Princeville Resort #8B 1,567 #8B 2/2.5
210699 T A 40 4-5-4-5-24-31 FS $679,200+ Nihilani At Princeville Resort #11A 1,406 #11A 2/2
210598 T A 34 4-5-4-5-24-8 FS $686,200+ Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
196893 T A 367 4-5-4-12-9-30 FS $825,000- Pali Ke Kua Iii #242 1,135 #242 2/2
210698 T C 102 4-5-4-5-24-25 FS $659,200+ Nihilani At Princeville Resort #9A 1,406 #9A 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.

Here is your Princeville home update:

Copyright 6/8/2008 by Hawaii Information Service

NEW LISTINGS
212057 RS A 6 4-5-4-22-26 FS $685,000 4372 Emmalani Dr 11,390 sqft 1,294 3/2
196353 RS A 6 4-5-4-15-10 FS $960,000 3829 Haulani Pl 11,502 sqft 1,884 3/2
210416 RS A 5 4-5-4-21-11 FS $1,397,500 3856 Kaweonui Rd 10,796 sqft 2,442 3/2.5

WITHDRAWN
203133 RS W 211 4-5-4-8-29 FS $849,000 5112 Kapi'olani Loop 10,656 sqft 1,454 2/2
207373 RS W 99 4-5-4-10-5 FS $1,495,000 4126 Liholiho Rd 9,969 sqft 2,439 3/2.5

PRICE CHANGES
197400 RS A 354 4-5-3-11-46 FS $1,995,000+ 4140 Aloalii Dr 18,188 sqft 3,469 3/3
196353 RS A 6 4-5-4-15-10 FS $960,000- 3829 Haulani Pl 11,502 sqft 1,884 3/2
208034 RS A 72 4-5-4-16-72 FS $1,588,000- 4436 Emmalani Dr 10,034 sqft 3,444 4/3

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

First up on new listings is Paniolo #211 which was previously listed from 1/07 to 4/08 starting at $515K and decreasing to $459K. This unit was purchased as a LH on 12/89 for $125K then converted to FS on 2/03 for $45K. Sandpiper #128/228 are owned by the same person and were purchased in 6//05 for $490K and $535K respectively. Both units were previously listed: #128 from 6/07 to 10/07 where it started at $590K and ended at $535K and unit #228 which offered both 128 and 228 together for $1.195. Both units were also offered as fractionals during approximately the same time.

Paniolo #210, was a LH purchase in 6/01 for $112K and then converted to FS in 5/03 or $50K. This unit was previously listed from 12/05 to 4/06, starting at $547K and moving down to $507,500. Sealodge #D5 is listed for the first time since it sold in 12/04 for $525K. Cliffs #8201 is listed at $1.495M which is more than what Pu'u Po'a 105 sold for recently. This unit was purchased at the height of the market for $1.075M on 4/06. Orchid Point A and B are two new units in a 3 unit complex, located on 13,000+ sqft of land between Sealodge and Kamahana. The land was purchased in 6/00 for $425K. These are two new high end units, built in 05, with unending ocean views. Pu'u Po'a #210 is another new listing, having last sold for $338K in 5/99.

Of the three contingent sales this week, two are Nihilani developer sales while one is a LH Pali Ke Kua, #210. This sale eludes me given that unit #238 in the same complex with ocean views and is currently listed for $335K. Someone obviously thinks the views / location of #210 is $300K more valuable than the other unit. As for Nihilani, seems their June sale is yielding a good result.

Plantation #1112 closed this week at an uncommonly low price of $498,500. This unit, purchased in 11/05 for $430K started out at $629K and just kept reducing until it found a buyer at $525K. Good buy! Sealodge #E10 also closed, bringing a nice profit for the seller. This unit sold for $720K and was purchased in 9/03 for $499K. Way to go!

Several units expired this week and one, Sealodge H1, was withdrawn. This unit was purchased in 8/05 for $560K, started out listed at $749K and reduced to $599,999. I'd say the seller couldn't go much lower without losing money.

Several Nihilani units were temporarily withdrawn for some unknown reason. I hope they don't come back on the market at a higher price like the ones did which we'll see under price changes.

Speaking of price changes, Villas on the Prince #29 wins the award for a price reduction going from $819K to $749K making it the least expensive Villa in the complex. This unit was purchased from the developer in 5/02 for $468,710. Ka'eo Kai #5A reduced yet again, going from $499 to $479. This unit sold in 8/02 for $200K. Nihilani #21C,which is a resale, has still not sold-and this time reduced from $675K to $625K. #21C, purchased in 10/06 for $844,795, started out at $919K and has been seeking a buyer ever since. This is the Mahina floor plan, the largest square footage in the complex, all on one level. At this price, it's quite a bit less than even the smaller Nihilani units. I've shown it several times and will show it again and again. Someone should buy this unit! In stark comparison, several of the developer's Nihilani units unfortunately saw a price increase: #33B went from $630K to $664,200, #8B from $598,300 to $665,200, #11A from $610K to $679,200, #3B from $603,300 to $686,200 and #9A from $610K to $659,200. Please note that all this pricing is more than unit 21C yet all are much less square footage. Our final reduction is Pali Ke Kua #242, purchased in 5/04 for $555K and reducing from $849 to $825K.

Here is your Princeville home update:

Copyright 6/8/2008 by Hawaii Information Service

NEW LISTINGS
212057 RS A 6 4-5-4-22-26 FS $685,000 4372 Emmalani Dr 11,390 sqft 1,294 3/2
196353 RS A 6 4-5-4-15-10 FS $960,000 3829 Haulani Pl 11,502 sqft 1,884 3/2
210416 RS A 5 4-5-4-21-11 FS $1,397,500 3856 Kaweonui Rd 10,796 sqft 2,442 3/2.5

WITHDRAWN
203133 RS W 211 4-5-4-8-29 FS $849,000 5112 Kapi'olani Loop 10,656 sqft 1,454 2/2
207373 RS W 99 4-5-4-10-5 FS $1,495,000 4126 Liholiho Rd 9,969 sqft 2,439 3/2.5

PRICE CHANGES
197400 RS A 354 4-5-3-11-46 FS $1,995,000+ 4140 Aloalii Dr 18,188 sqft 3,469 3/3
196353 RS A 6 4-5-4-15-10 FS $960,000- 3829 Haulani Pl 11,502 sqft 1,884 3/2
208034 RS A 72 4-5-4-16-72 FS $1,588,000- 4436 Emmalani Dr 10,034 sqft 3,444 4/3

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

As you can see, not too much happened in the residential side of things. Need help buying or selling? Just call or email. Have a great week and remember when things get hot and sticky where you are, just picture our palms blowing gently in our cooling "trades."

Aloha, Elaine

Elaine's Photo

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!

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Elaine Schaefer

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