Kapaa, HI

When Mayor Bernard Carvalho took over for the recently deceased Bryan Baptiste, he had big shoes to fill. But Bernard is a big man. Yesterday, the Mayor 5th annual prayer luncheon had its largest turnout ever. The luncheon's theme, "Mentoring the next generation" was meant to attract youth in the community for the gathering which brings together government, businesses, and churches.

Read the full report in the Garden Island

Mayor Carvalho is the big dude on the left praying and singing

As of this posting, there are 48 properties in the Kapaa-Wailua that are in short sale or foreclosure. This list is compiled by RealtyTrac, the nation's leading source for foreclosures. This does not include the many sellers who are current in their mortgages but still must seek short sales.

If you wish to have a list of the most recent short sale properties in our neck of the woods, drop me an email and I will forward the list to you immediately. You might also find it interesting to download the laws about Foreclosure in Hawaii to gain some insight as to the how this process may work.

Buyers who can qualify are getting some excellent values, and if you are one of them, you may want to check out the opportunity to own real property on one of the most people places on the planet.

This home has not yet listed but I had been speaking to the seller and know that he is hoping for a quick sale. The home is located in Wailua Rise Estates. This is a subdivision of primarily half acre lots that is located about 4 miles up from the main Kuhio HIghway in the general area of the Wailua Homesteads. This is a great location for fulltime residents and is very popular with doctors, nurses, and anyone who works on the east side, from Kapaa to Lihue.

This home probably needs some TLC but will be listed at 575K. The home has a ohana unit, that is, a separate 1 BR/1 BA unit that is often thought of on the mainland as a "mother-in-law" unit. That's always great for visitors, family, or even, dare i say, a rental tenant, which helps to reduce the cost of ownership.

View the gallery of photos HERE and if you are looking for a good SHORT SALE Opportunity on KAUAI's East Side, this might be the best Kauai Real Estate value for you.

Yes, when Anekona Management bought the Radisson Hotel several years ago, they renovated the place and turned all 350 rooms into Condominiums. The project now functions as the Hilton Kauai Beach Resort and is a successful east side resort. South Pacific is performed in the ballroom every Wednesday night. These units sold from $229,000 to around $500,000 for oceanfront rooms. Well, in this ever-correcting market, one seller needs to get out and they are having a sort of "blow-out" sale which will not last much longer.

Last week an oceanfront unit which was purchased for $491,900 in 2006 was put under contract. It was listed for $99,000. That's almost 80% off the original sales price. This week there are three units still for sale under $99K. The interior units start at $59,000, partial ocean view at $79,000 and two more units at $99,000. These units are NOT short sales.

At these price, it is more than likely that the units will produce a positive cash flow. Last year the oceanfront units netted (after management fees and such) almost 30K and the ocean view units netted 22K. Even with high monthly maintenance fees, with this level of rental income, the units may prove to be ones that "pencil out".

I often have tourists come into my open houses and say, "We're looking for something to pencil out!". I usually tell them, "You're on the wrong island, in fact maybe in the wrong state". Now, with the reduced prices at a couple of our condotel projects, we may finally have something for these tourists.

E-mail me if you wish a list of the units for sale at the Hilton Kauai Beach Resort or the Aston Islander on the Beach.

Ken Stokes, noted environmentalist and director of the Kauaian Institute, posts about a new group of leaders on Kauai who are focused on moving from the stage of talking about sustainability and are now digging into the DOING phase. As Ken notes, Kauai has a long way to go, but with clear intentions progress can happen rapidly.

Read more on the SUSHI Blog