NEWS FROM KAUAI -
Newsletter Fall, 2009
Joseph “Joe” Williams, RA The Princeville St.Regis which has stunning
views of Hanalei Bay and whose beach is the nation’s top-rated, is
one of only eight Starwood resorts worthy of the St. Regis brand
worldwide. The hotel employees received weeks of “brand training”.
Since opening weekend, the restaurants and room reservations
exceeded expectations. The Makai golf courses are green once more.
All seed has been planted, the traps are filled with bright white
sand and fairway and green renovations are complete. We are hopeful
of a re-opening by the end of this year. Owners at Hanalei Bay Resort were successful
in appointing new management directly accountable to the HOAO’s.
Happy Talk and the Bali Hai restaurant are open and plans are to
add an exercise center and spa. Around the island, projects are once more
progressing. The new shopping center at Poipu has new stores
opening each week. While trends point to a slow end to the
recession, the past year has been difficult for Hawaii as so much of
the local economy is driven by tourism. Those who do plan on a visit
to the Aloha state will find bargains in travel, hotel and condo
rentals. The same is true for buyers of real estate.
Prices of property have fallen around 25% on average. Bargain
hunters and those looking for value have done quite well in the
current market. Moreover, interest rates are near an all time low.
Several lenders are advertising 30 year fixed rates at less than
4.5%. An economist recently noted that every 1 point increase in
mortgage rates effectively increases the price of property by 10%. Those with some expectation of a purchase
within the next year should come out and see for themselves.
Remember to surf my website,
www.joewilliamshawaii.com, for some advance preparation. I hope to see many of you here this winter.
Kauai continues to be an exciting and relaxing place to be with a
warmth and grace of spirit. Mahalo, Joe
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