Kauai life & real estate during Covid-19.|
Let’s face it, if you live on Kauai during this crazy Pandemic time, you are lucky. With no new cases on Kauai in a month and no current active cases most of us are no longer deathly scared of the virus but are still wisely taking precautions.
We are able to swim, surf, walk our dogs, and go outside. Additionally, traffic jams have disappeared, and Kauai marine life is recovering. However, on the dark side it is estimated that Kauai’s unemployment is 50% and trying to file for unemployment can be a full-time job.
So far Kauai real estate has had an escrow dropout rate has been anywhere from 20-50% for agents according to an informal poll I was taking. The good news is that on primary home purchases there is a lot less competition for buyers to deal with. Prices are no longer skyrocketing but it is still to early to tell of Covid-19’s effect on the vacation rental/sales market.
The vacation rental & tourist market has taken a huge hit. TVRs and other non-essential hotels are not allowed to be opened for short term vacation rentals. We are starting to hear a hint of reopening talk slated for the end of summer. However, until there is a definite testing plan in place at the airports, opening Kauai and Hawaii up to possibly infected travelers probably won’t happen. Timing of tourism and vacation rentals opening up on Kauai will go hand in hand with a definite screening process and procedures. Screening processes and procedures should be one of our State’s top priorities.
With a delay in opening up Kauai for tourism, there will be a softening of the sales of vacation rentals. The softening will be short termed as Kauai will still be seen as a very desirable place to visit and live.
it’s been a confusing time for Kauai Realtors as well as the general public during these past couple months of executive orders, emergency rules and Proclamations. We are here to help you through the maze of Kauai real estate during this time.