Kauai Newsletter Summer 2013

Joseph “Joe” Williams, R(S)
Century 21 All Islands
Princeville, HI 96722
Cell: 808 652 2984 
Fax: 808 826 9884


It’s summertime and the living is easy.  Daytime highs in the mid-80’s and cool, trade winds have made Kauai the place to be this summer.  One of the Honolulu TV stations begins each weather forecast with “the best weather on the planet” designation.  Most of us who live here do agree.  That does not mean we did not complain the few days when the trades went away. We are spoiled.

Trip Advisor’s list of the “Top Ten Islands” in the United States ranked Kauai #2.  (San Juan in Washington was #1 in case you are curious.) This year tourism has been at an all-time high.  That is great news for the economy, but not so good for parking spaces at grocery stores and Kapaa bottlenecks.  In June, the jobless rate in Hawaii dropped to a five year low, 4.6%.  There has been a gradual decline since the peak of 7.1% in the summer of 2009.  Largest gains were in the visitor and construction industries.

An update of events mentioned in the last newsletter includes a continued remodeling of the old Paradise Bar and Grill, opening soon as the new Tiki Iniki.  The new Paradise Bar and Grill is opening in the restaurant space at Pali Ke Kua.  The Happy Talk bar at Hanalei Bay Resort is now aiming for a December opening with the restaurant following in early 2014.  Remember that I never give specific dates since this is Kauai.  Among new projects on island is a shopping complex to be built in Lihue on the highway near Home Depot. The 22 acre Hokulei Village will be anchored by a new Safeway.  Work is progressing quickly for a dog park near Kilauea.  The Porters, who built the miniature golf course and have plans for an amphitheater nearby, donated an acre of land for the dog park and have generously supported the undertaking.  Dog lovers are happy.

I hear from a number of you after each newsletter so I know that some look forward to a concise view of what is happening in real estate on Kauai. We are up in sales in both numbers of units sold and in median sales prices.  Single family homes show nearly a 12% increase in houses sold and a 16% increase in prices.  Condo unit sales are up 8.5% while prices have risen 10%. Sales of land parcels are up a whopping 37% with the average parcel selling at $285,000. The latter offers more good news for home builders. Economic forecasters predict an annual 5 to 10 percent increase in sales prices in the next five years. With interest rates on the rise buyers who wait will likely pay more for their dream home. 

Our mainland buyers tend to be “baby boomers” approaching retirement.  Many have done very well economically and hold no reservations about purchasing luxury homes.  Others are still vacillating and may wait too long to get the good deal they want.

 If Kauai property is in your future, please check out my website, www.joewilliamshawaii.com, email, or call me.  I know of excellent situations where buyers have been able to find their dream home for up to 60% below selling prices of 5-8 years ago.

Finally, if you need another reason to come to Kauai, the federal Center for Disease and Prevention recently published a study that ranks Hawaii at the top of all states in overall health and life expectancy. If you are 65 and living in Hawaii, you can expect to live for 21 more years and likely be in reasonably good health.  You had better book your ticket!