This is a great time to be in Kauai. The trades are back, and the “fall” weather is welcome this year. If you were not on island this summer, you missed a hot one. 2015 will go down as the hottest year ever worldwide, and Kauai was no exception. On more than one occasion Costco, Home Depot, Walmart, and all did not have one portable air conditioner or fan for sale. It was a wonderful time to go to the beach – residents and visitors alike.

The news from Kauai is some factual and some supported only by the “coconut wireless” at this time. In Princeville, CJ’s restaurant will close at the end of the year. It has been a part of this island for over 40 years. Many of its loyal following will have to go elsewhere. That is fact. According to the coconut wireless, Hanalei Dolphin owners are going to put a new restaurant in CJ’s spot after remodeling. It is rumored to be food with an Italian flair.

Another fact is that the restaurants at Hanalei Bay Resort are closer than ever to opening. Rumor is that there could be a soft opening of their Happy Talk lounge by early 2016. It is a fact that in Poipu the Kukui’ula Shopping Center continues to expand, opening up new, high end stores and restaurants. A new Safeway, larger and improved, opened this fall in Lihue. It is the anchor of a plaza which also contains new shops and restaurants including a Jack in the Box.

The big news in development is that the plans I last told you about have totally changed with Princeville Development severing relationship with the Discovery group that had been hired to develop the Prince course and all of the surrounding areas into a very upscale, private resort. Now the rumors are that the Prince Course will be returned to its original concept. The pro shop will reopen and a restaurant brought back. Stay tuned on this one.

According to a newspaper article this week, the number of visitors coming to Hawaii continues to increase. Hawaiian Airlines made record profits this year and plans to add back the flights they had reduced to such places as Japan. Overall visitors are spending less per stay. The most likely explanation is that we are receiving more repeat visitors who tend to stay in vacation rental condos, and more visitors now own second homes in the islands.

Real Estate sales on Kauai are up slightly over 2014 but dollar volume has increased significantly. Island wide the median price of a home increased to $620,000 while condos averaged $360,000. The average priced condo on the North Shore was $535,000; whereas a Poipu area condo sold for just over $650,000. Of course, sales are higher on Kauai in Visitor Destination Areas.

Owners in VDA’s are allowed to rent out their properties or homes on a short term basis. It is quite likely that these prices will continue to move upward in 2016 barring any unforeseen world crisis. If you are planning to visit us next year and are thinking about a possible investment, please include a visit with me during your stay.

Next year will be my fourteenth year in real estate on Kauai. I know the island and its people. I would look forward to assisting you and your family to find that perfect place here in paradise. You may also visit my website www.joewilliamshawaii.com. With a few clicks you can search the market from the comfort of home.

Mele Kalikimaka and Happy New Year!