Julie's January 2021 Newsletter Kauai Dreams Digest

By
Real Estate Broker/Owner with KAUAI DREAMS REALTY Kauai Real Property Specialist RB-14203
Julie's January 2021 Newsletter
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Kauai Dreams Realty
Julie Black RB-14203
Realtor, Broker, Owner

 
Kauai Dreams Digest
January 2021

Kauai End of the Year Statistics.
2020 (1008 properties sold) had fewer number of sales then 2019 (1164 properties sold). This was primarily due to a few slow months in the beginning of the Covid19 pandemic.

The median sales prices of residential homes went up from $659,900 in 2019 to $810,000 in 2020 for the entire island. However, the Hanalei district saw the biggest leap from $950,000 in 2019 to $1,465,000 in 2020.
 
The median sale price for vacant land for the entire island also rose from $440,000 in 2019 to $640,000 in 2020.
 
The median sales price for Kauai condos bucked the appreciation trend and went down from $575,000 in 2019 to $555,000 in 2020.
 
The median sales price for property in general will probably appreciate during this period of increase interest and low interest rates.

Property tax updates:
The County of Kauai has come out with its new affordable 2022 rental rates. By following these guidelines, and filing the proper forms, your rental house can fall into the “Homestead tax class”. The Homestead tax rate is quite a bit lower than the “Residential Investor tax rate” The homestead rate also puts on a 3% cap on raising the assessed value of your property. This will be especially important as Bill No 2814 (not yet law) will lower the threshold for the Residential Investor tax rate from $2,000,000 to $1,300,000. If you have a property assessed at higher than 1.3 million but lower then 2 million you will probably see your property taxes increase significantly if you don’t have the homestead tax rate and this bill passes.

 

PRINCEVILLE SANDPIPER VILLAGE I UNIT #213
Desirable, top floor, back row with both ocean and mountain views. Finished loft bedroom and the studio side upgraded, allowing for two tenants for extra income or extended family. Open beam ceilings give an extra feeling of spaciousness. Enjoy the large covered lanai that's great for outdoor dining and entertaining or just sipping your Mai tais while watching the sunset. Complex has a great pool/barbeque area with a sauna too. The back row units are rarely on the market so don't let this one get away!  2 Bedroom 2 1/2 bath 1173 Sq ft $625000 MLS 644584
Thinking of appealing your property taxes?
After 6 years on the Kauai County Board of Review (property tax board) I should be relieved by March by a new member. I have learned a lot about property tax appeals and what is needed to win those appeals and the procedures needed to be followed to properly lower your taxes. Once I’m off the Board I can give advice on how to win your individual tax appeal or just hints to lower your property taxes.
 
Hint: Appeals based on missing deadlines are usually not ruled in the appellants favor.
Kauai Million Dollar Sales Statistics:
  • From 1/1/2019 to 12/31/2019 there were 128 residential houses that sold for over $1,000,000 dollars.
  • From 1/1/2020 to 12/31/2020 there were 189 residential houses that sold for over $1,000,000.
  • This is a little over a 32% increase in a Pandemic year.
  • The highest priced residential property that sold on Kauai in 2019 was $6,500,000.
  • The highest price property that sold on Kauai in 2020 was $36,750,000. This phenomenal sale was actually 3 contiguous parcels of Hanalei Bay oceanfront.
All figures are derived from the Multiple Listing Service (MLS) Hawaiian Information Service.

Thanks for all your responses and support to my newsletter. Call or email if you are interested in buying, selling or property management.
 
Julie Black was nominated by Hawaii Business Magazine as a Top Performer for 2020.
 
 
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   Julie Black, RB-14203,     Realtor, Broker, Owner. CLHMS, CRS, GRI 

    Kauai Dreams Realty
Cell:  (808) 652-6174

Office:  (808) 822-7774

Email: julie@kauaidreams.com


To search any active or sold Kauai property
go to:
www.kauaidreams.com. 
(It’s mobile phone compatible)
 
Feel free to share this newsletter with family & friends interested in Kauai real estate.
 
I appreciate your business & referrals.
ALOHA JULIE
Posted by

CLMHS CRS GRI Realtor/Broker/Owner Kauai Dreams Realty 

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Show All Comments
Rainmaker
283,634
Michael Wayne Jackson
Coldwell Banker - Novato, CA
Broker - Seniors Real Estate Specialist Novato

Great information regarding Kauai Real Estate, I love this island I had such a goosd time back in 2016.

Jan 26, 2021 08:07 PM #1
Rainmaker
278,970
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Julie A. Black and thank you for the market report. Certainly a huge appreciation in 2020

Jan 27, 2021 05:14 AM #2
Rainmaker
385,077
Julie A. Black
KAUAI DREAMS REALTY Kauai Real Property Specialist - Kapaa, HI
CLHMS, CRS, GRI, Realtor, Broker

Thanks Rocky Dickerson for commenting. Yes we are having a lot of apreciation and a real lack of inventory on single family homes.

Jan 27, 2021 11:48 AM #3
Rainmaker
1,590,525
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Lots of good information for buyers and sellers in your market!

Jan 28, 2021 11:05 AM #4
Rainmaker
6,217,597
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I hope you are enjoying a very productive month.

Take care and be safe.

Feb 26, 2021 03:47 AM #5
Rainmaker
1,493,976
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Julie A. Black - Thank you for the market update. Kauai is such a beautiful island and it is apparent why people want to live there. 

Mar 01, 2021 12:41 PM #6
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Rainmaker
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Julie A. Black

CLHMS, CRS, GRI, Realtor, Broker
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