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Kauai Real Estate Market - How was the first half of 2009?

07-09-09
Ronnie Margolis, Kauai Realtor®, ABR, RA - On Top of the Aloha Beat
Ronnie Margolis, Kauai Realtor®, ABR, RA - On Top of the Aloha Beat: Real Estate Agent in Kapaa, HI
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  • Office: (808) 822-5433
  • Mobile: (808) 346-7095

Our Kauai Board of Realtors as a service to the community publishes articles in our local paper, the Garden Island. This weekend’s article in the business section has been adapted to give you a good sense of how our Kauai real estate market is doing through the first half of the year. Normally, the Kauai real estate market is a seasonal one. That is, our market tends to spike in the winter time when the “snowbirds” come to the tropics, and spike during the summer months when tourists vacation with their families while their children are off of school. Not sure if those same tendencies still apply to our current state of affairs, but the numbers don’t lie, that’s for sure.

As the first half of 2009 has just passed, we thought it would be timely to review real estate activity on Kauai. As to be expected in light of the global economic downturn, the results are down in every category versus the same time frame for 2008. Please keep in mind that the Kauai real estate market is an insulated one with a relatively small sampling section, therefore a high or low dollar sale, a new condominium project or subdivision, or a foreclosure in a condotel project (we recently had a large one) can dramatically affect the statistics.

Kauai Year-to-Date Transaction 2008 vs. 2009

# of Sales

YTD 2008

YTD 2009

+/- Number

+/- Percentile

Residential

148

103

<45>

<30.41%>

Condominium

114

116

2

<39.47%>

Vacant Land

61

35

<26>

<42.62%>

Kauai Year-to-Date Sales Volume in Dollars 2008 vs. 2009

Sales Volume

YTD 2008

YTD 2009

+/- Number

+/- Percentile

Residential

$133,342,186

$96,830,519

<$36,511,667>

<27.38%>

Condominium

$81,582,405

$26,483,037

<$55,099,368>

<67.54%>

Vacant Land

$60,819,825

$13,675,500

<47,144,325>

<77.51%>

Kauai Year-to-Date Median Sales Price*

Median Price

YTD 2008

YTD 2009

+/- Number

+/- Percentile

Residential

$657,500

$479,000

<$178,500>

<27.15%>

Condominium

$599,500

$320,000

<$279,500>

<46.64%>

Vacant Land

$700,000

$275,000

<$425,000>

<60.71%>

*Median Sales Price on Kauai represents the midpoint between the most expensive house and the least expensive house sold in an area during a specific
time. The Median Sales Price is often regarded as an indicator of the strength and the direction of a real estate market.

To emphasize where Median Sales Price values are in relation to previous years, enclosed are Median Sale Prices from 2004 – 2007 in the same time period.

Kauai Year-to-Date Median Sales Price 2004 - 2007

Median Price

YTD 2004

YTD 2005

YTD 2006

YTD 2007

Residential

$465,000

$600,00

$679,000

$655,000

Condominium

$375,000

$425,500

$372,000

$525,000

Vacant Land

$315,500

$415,000

$360,000

$650,000

These charts above are based on Information which is provided by Hawaii Information Services, the company which runs the multiple listing service for Kauai and Hawaii, the Big Island.

Using the Median Sales Price as a barometer, the property values on Kauai are now comparable to 2004 values; Condominiums are closer to 2003 Values ($271,469). Regarding broader generalities, the State of Hawaii appears to be tracking closer to what is currently happening on the mainland as opposed to previous trends where there was a 6-9 month lag from what occurred on the mainland until it affected Hawaii. Of course similar to our climates, there are many micro-markets that ebb and flow according to the supply and demand of units on market. Another observation is that Hawaii’s market is also a bit healthier than some of the mainland markets, such as Southern California.

The increase in Hawaii in Median Sales Prices did not rise as high or as sharply and consequently the decrease in Median Sales Prices has not been as steep or dramatic…we have experienced lower highs and higher lows. Hawaii’s two-leading Banks, Bank of Hawaii and First Hawaiian Bank are strong and stable. According to Bank Director’s Magazine “The 2008 Bank Performance Scorecard: America’s Top 150 Banks”, Bank of Hawaii was the 4th highest rated bank in the U.S.

In terms of foreclosures, the State of Hawaii has generally been in the bottom 10 of the 50 States, ranked 36th in April and that number spiked in May which caused Hawaii to be ranked 15th among the 50 states. There were 816 foreclosures in state of Hawaii in May according to a recent RealtyTrac report. With one in every 374 housing units receiving a foreclosure filing during the month, Kauai County posted the highest county foreclosure rate in the state amongst the five major counties. RealtyTrac statistics includes commercial properties, which include condo-tels and timeshares in the foreclosure data, and sometimes includes properties multiple times in the three-phase foreclosure process. As I alluded to earlier in the post, there were 145 residential units and 16 commercial units at the Hilton Kauai Beach Resort that were auctioned at a public foreclosure auction on May 6th that dramatically skew the Kauai foreclosure numbers. iStar Financial, the primary lender at the Hilton Kauai Beach Resort, bid $15 million, outbidding several other bidders. The up tick in Kauai’s foreclosure numbers can also be attributed to mainland buyers and investors defaulting on resort properties/2nd homes purchased over the past few years.

In terms of mortgage delinquencies (percent more than 30-days past due) Hawaii was 45th among the 50 states according to the Mortgage Bankers Association (Q4 2008). If you factor the condo-tels in, Hawaii may be climbing the ranks in that stat.

In addition to the decline in the Kauai Median Sales Prices, the other dramatic impact to the real estate market on Kauai is in the number of transaction. The numbers of transactions were down 50% between 2005 and 2007 and decreased another 36% in 2008. There were 1,768 total sales on Kauai in 2005 and we are currently at a run rate to have 508 total transactions in 2009 or 28% of the number of transaction that occurred in 2005. That’s a slowdown to be sure.

Currently there are 1 in 14 residences for sale that are in escrow followed by 1 in 16 condominiums and 1 in 16 land parcels.

Total Kauai Properties for Sale as of 7/1/2009

Property Type

Number For Sale

Residential on Kauai

627

Condominiums on Kauai

514

Vacant Land on Kauai

414

Total Kauai Properties in Escrow as of 7/1/2009

Property Type

Number in Escrow

Residential

49

Condominium

34

Vacant Land

28

In as much as the Kauai real estate market has adversely affected Sellers of properties, the construction industry, escrow companies, Realtors, and lenders, it has created a boon for Buyers. You would have to go back to 2002 or 2003 in many instances to find the types of values that exist in today’s market. Motivated Sellers, relatively low interest rates, first-time homebuyer programs, and Seller financing in some cases all equate to a great opportunity for property buyers. That’s the overview of the market for the first half of 2008. Again, thanks to the Kauai Board of Realtors for collating this information.

What’s next? We are in uncharted territory where some of the most accomplished economic experts are having a difficult time forecasting future trends. It does appear though that there are economic indicators and signs that perhaps the worst is behind us and the market is flattening out a bit.

If you would be interested in seeing how your neighborhood is faring contact me at ron@hawaiilife.com and I’ll be happy to generate a comparable market report for your specific property type and location. And of course, the most current list of Kauai foreclosures and short sales is available on an island-wide basis, or by general geographic region, i.e. North Shore, South Shore, Eastside, etc.

Looking forward to the second half of the year as great values abound and there’s so much opportunity for qualified buyers to own their piece of paradise.

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Princeville Kauai condo (and house) update for the week of June 28th to July 4th

07-05-09
Elaine Schaefer (R, BIC, CRS, GRI, ABR)
Elaine Schaefer (R, BIC, CRS, GRI, ABR): Real Estate Agent in Princeville, HI
  • view my blog
  • Mobile: (808) 639-2935

Aloha,

And Happy Fourth of July weekend. I hope all of you had weather that was as perfect as it was here in Paradise- bright blue skies and great trades. The fireworks were certainly enhanced having the moon as the backdrop. What fun. The market seemed busy this weekend as I had several showings. Hopefully we'll see some units going into escrow soon. Here is your update:

Copyright 7/5/2009 by Hawaii Information Service

NEW LISTINGS
225391 T A 6 4-5-4-5-24-2 FS $639,000 Nihilani At Princeville Resort #1B 1,874 #1B 3/2.5

BACK ON THE MARKET
204622 T A 561 4-5-4-12-8-28 FS $599,000 Pali Ke Kua Ii #232 993 #232 2/2
210501 T A 333 4-5-4-5-7-34 FS $749,000 Princeville Sealodge #D5 570 #D5 1/1

CONTINGENT SALES
221121 T C 143 4-5-4-5-3-3 FS $209,900 Princeville Paniolo #103 1,058 #103 1/2
215869 T C 296 4-5-4-5-23-16 FS $469,900 Plantation At Princeville #422 1,318 #422 3/3

SALES
210611 T S 239 4-5-4-5-24-33 FS $675,000 Nihilani At Princeville Resort #11C 1,972 #11C 3/3
SOLD 6/26/2009 for $675,000 (CNV) DOM 239

EXPIRED
215271 T X 309 4-5-3-6-22-48 FS $1,799,000 Kaiulani Of Princeville #48 2,479 #48 3/3
214168 T X 306 4-5-4-11-3-121 FS $550,000 Hanalei Bay Resort #T35 867 #2309-10 1/2

PRICE CHANGES
210027 T A 456 4-5-4-5-30-6 FS $340,000- Princeville Mauna Kai #F6 1,400 #5 3/2
221307 T A 131 4-5-4-5-18-86 FS $370,000- Puamana #24A 1,312 #24A 2/2
210611 T S 239 4-5-4-5-24-33 FS $675,000- Nihilani At Princeville Resort #11C 1,972 #11C 3/3
SOLD 6/26/2009 for $675,000 (CNV) DOM 239

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Again, like last week, I'm happy to see only one new listing this week. As you saw from the update, we had two go into escrow and one sale. Having two escrows for every new listing is one good way to ease our over abundance of inventory woes. Nihilani 1B, listed for $639K as a short sale is the only listing this week. It's nicely upgraded with coconut wood floors, cherry cabinets and stainless steel appliances. This seller paid $912,788 for the unit is 3/07. With prices where they are now, it's hard to imagine paying that much but that's the nature of real estate - up and down!

Pali Ke Kua 232 is back on the market after expiring listed at $599K. This is a short sale that was purchased for $650K in 9/04. Also back on the market is Sealodge D5, which sold for $525K in 12/04.

Two properties went into escrow, starting with Paniolo 103, listed at a very attractive $209,900 and purchased for $410K in 4/03. This unit went to the bank in 1/09 and is a foreclosure. This unit started out priced at $260K and initially went into escrow on 3/31, coming back onto the market on 4/27. Hopefully it will close this time. Also finally going into escrow is Plantation 422, another REO originally purchased for $738K in 2/08 and listed for $469,900. Plantation hit the market at $599,900 and just kept reducing until it finally found a buyer. Even though it's been stripped of all appliances, this still looks like a good buy.

Brookfield continues to chip away at their developer's inventory with the sale of yet another unit, #11C which is their Mahina floor plan. If you've been to Nihilani recently, this unit was the one being used as the showroom. You'll now find them downstairs in 11A, a 2 bedroom, 2 bath Moana floor plan listed for $620K. 11C, which is their largest model, closed at $675K. You'll also see this unit under price changes as it was previously unrealistically listed at $799,200 before being adjusted downward to reflect current market conditions.

Ka'iulani 48, purchased for $1,502,610 and optimistically listed for $1.799M expired after 309 market days. This unit started out at $1.9M in 1/08 reducing to $1.799M before it was withdrawn in 8/08. It came back on the market the same month at the same price which is where it stayed the entire 306 days it was listed. It's pretty apparent this unit is not going to sell for that price in this market.

Hanalei Bay Resort 2309/10 purchased for only $125K in 11/84 expired after 306 days. This unit started out at $650K in 8/08, and made one price reduction to the present list price of $550K in 12/08. If you want to sell in today's market, and you're serious about doing so, you must be prepared to reduce and reduce again if after ample market exposure, you're unit has not attracted any attention. Either that, or you may prefer to withdraw your property and wait for the market to turn.

Price changes are next, starting with Mauna Kai 5, which reduced from $350K to $340K as a short sale. Purchased in 11/04 for $431,650, this condo started out at $499K in 4/08 and has made several price reduction over the last 456 days. Puamana 24A, purchased for $605K in 12/05 reduced from $385K to $370K. The last price reduction is the developer's Nihilani 11C that corrected from $799,200 to $675K as it sold.

Now onto your Princeville home update. I happy to report we have no new listings and only two that came back on the market.

Copyright 7/5/2009 by Hawaii Information Service

BACK ON THE MARKET
223822 RS A 62 4-5-4-13-6 FS $646,050 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
217234 RS A 115 4-5-4-19-2 FS $1,475,000 5074 Napookala Cir 23,703 sqft 3,138 4/3.5

EXPIRED
189321 RS X 902 4-5-4-20-33 FS $1,150,000 3975 Punahele Rd 9,979 sqft 1,960 3/2.5
206177 RS X 528 4-5-4-9-55 FS $1,250,000 5331 Honoiki Rd 10,689 sqft 2,554 3/3

PRICE CHANGES
222647 RS A 97 4-5-4-16-18 FS $729,000- 4060 Kaa'humanu Pl 11,792 sqft 2,364 3/3

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Have a great week and don't forget to call or email before you buy or sell so you have your facts straight!

Aloha Elaine

img000541.jpg
PMRF fireworks with the moon behind.

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/

......you can have your own piece of paradise
ask me how!

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Kauai Sales for June 2009

07-05-09
Richard Dolbeare (RA), ABR, CRS, RSPS, BS/MS - Engineering Hawaii Dreams Today
Richard Dolbeare (RA), ABR, CRS, RSPS, BS/MS - Engineering Hawaii Dreams Today: Real Estate Agent in Koloa, HI
  • view my blog
  • Office: (808) 651-4550
  • Mobile: (808) 651-4550

Kauai Sales Statistics For June 2009

Kauai home sales statistics have been released for the month of June 2009. The figures are island-wide comparisons of current sales versus year ago periods. Monthly values fluctuate widely and I've always preferred to use year-to-date data to average out the fluctuations. Both are presented below.

It's important to keep in mind that the data reflects what is actually selling and not necessarily a change in value of a particular property. In my experience investor purchases tend to be in higher-priced resort areas whereas owner-occupant purchases tend to be more focused in value-priced areas. My buyer clients today are much more heavily weighted toward owner-occupant than in previous years when investors dominated. More sales in value-priced areas and fewer in higher-priced resort areas will drive median sales prices down. Of course the number of sales speak for themselves although here again, an absence of investor sales will drive the numbers down.

Number of Sales

Type June % Change Year-To-Date % Change
Residential 21 -25% 103 -30%
Condominium 15 -38% 69 -39%

Median Sales Price

Type June % Change Year-To-Date % Change
Residential $440,000 -36% $479,000 -27%
Condominium $375,000 -46% $320,000 -47%

Additional breakdown of this information is available to my clients upon request.

Search Kauai/Big Island | Search Maui | Email | About Me | Visit Website | Phone/Text (808) 651-4550Richard Dolbeare (RA), Century 21 All Islands logo

Engineering Hawaii Dreams Today--Helping Buyers Find Dream Homes & Sellers Find Buyers

Visit www.KauaiRocks.com for Hawaii real estate information

[Data extracted from MLS reports. Information contained herein is deemed reliable but is not guaranteed. Buying & selling decisions should be made in consultation with a real estate professional and not on representations herein. Opinions are solely my own and do not necessarily reflect those of my brokerage.]

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Kauai Fireworks at PMRF were fun for all

07-04-09
Elaine Schaefer (R, BIC, CRS, GRI, ABR)
Elaine Schaefer (R, BIC, CRS, GRI, ABR): Real Estate Agent in Princeville, HI
  • view my blog
  • Mobile: (808) 639-2935

Aloha,

Wednesday I reported that PMRF was opening the base to the Community for a family oriented fireworks event on Thursday July 2nd from 5PM to 10PM. If you missed it this year, I thought I'd pass on some photos so you could see the fireworks with the moon in the background. It was quite spectacular.

This looks like it will be an annual event, one I highly recommend. There was plenty of ono food, live music, fun events for the keiki, lots of good friends and of course, the highlight of the event, the fireworks. These photos were taken with my cell phone and are actually a poor representation of the actual event. Plan to come next year for a good time.

img000541.jpg

img000501.jpg

img000361.jpg

img000371.jpg

img000451.jpg

Aloha Elaine

img000561.jpg

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/

......you can have your own piece of paradise
ask me how!

If you do not wish to receive this email,
please type "remove" in the subject line
along with the name of the email group you are in and hit "reply."

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July 1 2009 Kauai REO Foreclosure List

07-03-09
Julie A. Black, CRS, GRI Realtor
Julie A. Black, CRS, GRI Realtor: Real Estate Agent in Kapaa, HI
  • view my blog
  • Office: (808) 822-7774
  • Mobile: (808) 652-6174
  • Secondary: (808) 822-1991

July 1 2009 Kauai REO Foreclosure List

New listings:
Naulu back
1. 4345 Naulu Place, Koloa. Located off of Omao Road this property is a true fixer upper. It has some nice features and it also has damage, rot and mold. It is part of a CPR. $222,750. MLS#225407
back
2. 1672 Kelaukia Rd in Lanai Villas in Poipu. $1,089,000. This 3 bedroom 3 bath home in the exclusive subdivision of Lanai Villas in Poipu Kai bordering the greenbelt. It is in excellent condition and is located in the VDA so vacation rentals are allowed. Steps away from the Hyatt and beach. MLS#225197
Kahala
3. Kahala At Poipu Kai #113. This is a 1 bedroom 1 bath condo for $346,900. MLS#225425
4. Milia St, Kakela Makai subdivision, Kalaheo. Vacant lot of 10,758 sq.ft. MLS#225221
5. 2305 Liliuokalani St, Kilauea. 3 bedroom 1.5 bath for only $314,900. MLS#224729 Already in escrow.

Active- Current Listed Bank Owned Properties:
Homes:
1. 4374 Mimilo Road, Kapaa. 3 bedroom 2 bath home in the Hundley Heights area of Kapaa. $409,900 MLS#223718
2. 2891-C Pua Nani St, Lihue. This is a spacious 4 bedroom, plus office, 2.5 bath home, $489,000 MLS#224496. An IndyMac REO.
3. 3995 Kamehameha Rd, Princeville, 3 bedroom 2 bath SFH of 2117 sqft. living area on a lot of 10244 sq.ft. $499,900 Countrywide REO. MLS#223366
4. 3295 Kilikina Place, Lihue. A 3 bedroom 2 bath home 1236 sq.ft. near a Park. $374,410. MLS#223411
5. 4754 Kalamania Rd #B, Kilauea. 1/1 2.98 acres $455,000 MLS#219109 Fannie Mae/Freddie Mac REO
6. 2460 Kolo Road, Kilauea. 3 bedroom 2 bath home in the heart of Kilauea. bamboo floors. $410,500. MLS#222904.
7. 3695 Kaweonui Rd, Princeville. 4 bedroom 2 bath good condition single family home on a quarter acre lot. $646,050 MLS#223822.
8. 5086 Napookala Circle, Princville $814,800 MLS#220705. This home has a great location in Princeville, in Sunset Circle. Owned by Countrywide.
9. 4919 Aliali Road, Apopo Hale #10, Kapaa. This is a 3 bedroom 1.5 home/detached condo. Tile floor. HOA fees $251.16 monthly. Includes water, yard care and other services. MLS#225118. $219,900. (temporarily off the market)
10. 4910 Aliali Road #5, Kapaa. This is a 3 bedroom 1.5 detached home that is part of Apopo Hale condominium project. $224,900. MLS#219935
11. 4912 Aliali Road #3, Kapaa. Another 3/1.5 in Apopo Hale. $212,000 MLS#220533

Condos:
1. Mauna Ka 5A, Kao Kai Ph 1, Princeville. This 2 bedroom 2 bath condo boasts 1503 sq ft. of living area. This is the ground floor one level unit. Priced at $270,000. MLS#223363.
2. Puamana #14B, Princeville. 2 bedroom 2 bath condo for $390,000. MLS#225090
3. Islander on the Beach #342. Studio condo on Kauai’s Coconut Coast. $189,000. MLS#223271
4. Kauai Beach Resort #2506 307 #2506 0/1 MLS# 223038 $219,000
5. Kauai Beach Resort #2544 320 #2544 0/1 MLS #223037 $219,000
6. Kauai Beach Resort #4110 320 #4110 0/1 MLS #223033 $239,000
7. Kauai Beach Resort #4214 360 #4214 0/1 MLS #223035 $309,000

Upcoming REOs with Kauai Dreams Realty:
1. 148 Royal Drive, Wailua Homesteads. 2 homes on the rim.- Coming up soon!
2. 229 Koili St, Wailua Homesteads. 3 bedroom 2 bath home. Almost ready to list. Soon!
3. 5796 Noni St, 4 bedroom 2 bath home. in Wailua Homesteads. Coming up soon.
4. Banyan Harbor #80 2 bedroom 2 bath condo in Lihue. Almost ready to list. Again real soon.
5. 5051 Laukona St, Hanamaulu. Large home across from the park. Coming up soon.
6. 4262 Oama Pl, Puhi area, Lihue. 3 bedroom 2 bath home with 2 car garage. Coming up soon.
7. 5622 ILEINA LN #K., Kapaa. This is a vacant CPR lot with an ocean view. Coming up soon.
8. Kula Mau’u, Kapaa. Large home. Coming up shortly.
9. Makoa Road, Hanapepe. 2 bedroom 1 bath smaller home.
10. Waialeale Estates, Kapaa. This is a 3 bedroom 2 bath home with 2 car garage in Kapaa.
11. Apopo Hale, Kapaa 4 bedroom 1.5 bath CPR home. Confirmation process.
12. Plantation Hale. 1 bedroom 1 bath on the Coconut Coast.
13. 2888 Hoolako 2 bedroom 2 bath house in Lihue. Awaiting eviction.
14. Waiakulua, Kilauea. A large estate in Kilauea farms. Previously listed prior to foreclosure for over $1.5 million. Awaiting eviction.

15. Pohina St. Hanamalu Eviction process Duplex.

16. 4740 Hokuloa PL, Eleele, 3 bedroom 2 bath-almost ready to list

Upcoming REOs with other companies:
1. 3371 Kai Lani PL, Hanapepe. 4/2 residence. Coming up soon.
2. Laulea St. Eleele, 3 bedroom 1 bath home. In the eviction process
3. Lae Road, 3/2 In the eviction process.
4. Nihilani at Princeville #14A. 3 bedroom 2 bath condo. Last sales price was at $761,450. Fannie Mae owned.

In escrow:
1. Villas of Kamalii #44, Princville. A 3 bedroom 3 bath condo of 1825 sq.ft. living area and one car garage. $679,000. MLS#223314.
2. 3834 Koula Rd, Hanapepe. Two older homes in the heart of Hanapepe town. $323,730. MLS#223522.
3. Pono Kai #C209 2/2 Oceanfront condo. Kapaa. $424,900 MLS#218983.
4. 2374 Oka St, Kilauea, HI This 3 bedroom 2 bath home is set up as a 2/1 & 1/1 as the interior stairway is block. You can unblock it and use it as a single family residence. Otherwise it’s pretty much in move in condition. $419,900. MLS#224048
5. 4368A Puuwai Rd Kalaheo. This 2 bedroom 1 bath home is located on an 1/4 CPR lot. The downstairs was in the process of being remodeled but not completed and it appears no permits were pulled. Only $290,000. MLS# 221776.
6. 4119 Aheahe Place, Lihue. A 2 story home with a 3 bedroom 2 bath, kitchen living room on the top story and a large family room or other bedroom downstairs along with another bath. $447,900. MLS#222896.
7. Kuhio Shores #313, Poipu Oceanfront. MLS#213644. $590,900.
8. Plantation at Princeville 3 bedroom 2 bath condo. Built in 1994. $499,900. MLS#215869.
9. Princeville Paniolo #103. 1/2 but set up is similar to 2 studios. $209,900. Freddie Mac.
11. 3834 Haulani Place, Princeville. 3/3 2048 sq.ft. home MLS#219148. Reduced to $588,900.
12. Kauai Beach Resort #4206 studio condo at the Hilton in the preferred building $93,900. MLS#224555

Solds:
#1. 2469 Keneke St, Kilauea. Spacious 4 bedroom 2 bath home. The upstairs includes 3 bedroom 1 bath and the downstairs living area accessed through the garage is a 1 bedroom 1 bath setup. $409,900. Sold for $410,000 6/29/2009
#2. 5322 Kahala St, Kapaa 3 bedroom 1 bath home in very good condition for $342,000. MLS#221440. Sold for $320,000 6/30/2009.
#3. Kauai Beach Resort #1331. Ocean view condo at the Kauai Beach Resort (Hilton) REDUCED $93,900. MLS#217159 Chase REO. Sold $85,900 6/9/2009
#4. 3844 Kolula Rd, Hanapepe. 3 bedroom 1 bath cute. MLS#223657 $332,000. There are 2 separate REO properties on Koula Road. Sold $341,000 6/16/2009
#5. Islander On The Beach #321 372 #321 0/1 $145,000 MLS# 217190 Sold $105,000 6/19/2009
#6. Regency Huleia #21, Lihue. 2 bedroom 2.5 bath condo. Built in 1995. $353,600. MLS# 218226 . Sold for $360,000 on 6/1/2009.
#7. 276 Makani Road, Wailua Houselots 2 homes. $419,900. MLS#216350 Owned by WAMU. Sold $420,000. 6/29/2009.

There were 44 closed MLS sales for the month of June for the island of Kauai. The lowest being $85,900 and the highest being $10,000,000. Incredibly 7 of these sales were over a million dollars and 7 were REO sales. IndyMac has appreared to step up on its REO inventory. Local lenders Bank of Hawaii, First Hawaiian Bank and American Savings have not had any Kauai inventory show up on the market yet. Although there have been a few foreclosure notices from these companies in the newspaper. All available properties with MLS numbers can be plugged into my website at www.kauaidreams.com for more info and pictures. Or feel free to call or email me at julie@hisemail.net with any questions you might have or an appointment to see these properties. ALOHA JULIE

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