NEWS FROM KAUAI - Holiday Wishes
Joseph “Joe” Williams, RA
On the North
Shore, many improvements are moving forward on schedule. The
Princeville Hotel closed in September, planning to emerge in
July ‘09 as the Princeville St. Regis. The new manager has
arrived from Bora Bora and offered previews of this luxurious
venture. There is no doubt that the St. Regis will be one of
Hawaii’s top destinations. One interesting sidelight was the
sell off of hotel inventory. Real shoppers searched through all
the “steals” and bought everything from napkins to a grand
piano. One buyer purchased the chandelier for his new home in
Texas. I do not qualify as a real shopper. Ann and I made a
curiosity tour and fled empty handed. While the hotel
is undergoing renovation, both the Ocean and Lakes nines of the
Makai golf courses are closed for much needed improvements. The
Makai course plans to reopen in late ’09 with a new clubhouse to
follow. Meanwhile the Woods and the Prince are open for play.
Celebrity
Resorts of Orlando has taken over management of Hanalei Bay
Resort. The restaurants were purchased by Celebrity and should
reopen early next year. The new Westin Princeville Ocean Resort
located at the end of Wylie Road opened and is offering reduced
promotional rates. The Westin has a very popular Wine Tasting
each Tuesday. Locals and tourists attend, and many stay for
dinner. Other new resort developments on the island
(Ritz-Carlton at Kauai Lagoons, Koloa Landing, etc.) have
temporarily suspended phases of their new building projects.
Kauai survived
the loss of Aloha Airlines and ATA. Hawaiian Air put on more
flights and Go! is still here and is in the process of acquiring
the old Aloha name and emblem. The big news is that Mokulele
Airlines formerly a small carrier has partnered with Republic
and is flying 70 passenger jets on inter island flights at
reduced rates. With tourism
down, real estate sales are also lagging. The glut of inventory
and low interest rates should be very attractive to buyers. Many
prospective purchasers are taking a wait and see outlook;
however, there are bargains to be had NOW. The lower end of the
market has already picked up and local residents are taking full
advantage of buying opportunities. Some of the newer projects
such as Nihilani and Ka’iulani are offering significant buyer
incentives to slash inventory. Moreover, resales in these
developments are currently at very attractive prices.
Visit my
website
www.joewilliamshawaii.com
and search through properties of
interest and call me with specific questions. Let me know if you
are planning a trip to the Garden Isle. I am always available to
help you Ann and I wish
you and yours a happy holiday season and a healthy, prosperous
2009. This year that age old wish has a bit more urgency to it!
With warmest
aloha, Joe
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