Princeville, HI

Makai Golf Course Clubhouse is finally coming down in Princeville, Kauai. They have finally begun demolition of that eyesore in Princeville - the Makai Golf Course Clubhouse. I won't miss that dilapidated building with the mold and"moss" growing from its roof.

The course is scheduled to re-open in January. According to my sources, they will be using that old tennis shop as the temporary clubhouse. No date for starting construction of the new clubhouse has been set.

Adjacent to the Makai Golf Course is the development of Villas of Kamali'i. If you are looking to buy a three bedroom/three bathroom condo in Princeville, there are some great opportunities for you at Villas of Kamali'i.

Click here for more information on the updated golf course: makai golf

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Aloha,

This past week brought with it our first major winter storm. When all was said and done, both the Hanalei Bridge and the road between Princeville and Kilauea by Kalihiwai were closed for a period of time on Saturday. If you live in Princeville, Hanalei or Kilauea, you quickly learn that it's best to stay close to home when these types of storms appear, for fear of being "on the wrong side of the fence" when a road or bridge is closed. I've heard of visitors and locals alike being stuck on the wrong side of the tracks, unable to make a flight or get home.....It's pretty clear that Mother Nature rules the roost here.

Along with all the rain, we had a pretty quiet week in terms of real estate activity, as evidenced by this very brief update:

Copyright 11/15/2009 by Hawaii Information Service

NEW LISTINGS
229384 T A 2 4-5-3-11-1-19 FS $850,000 Villas On The Prince #19 1,732 #19 3/3
228998 T A 6 4-5-3-6-22-27 FS $1,695,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5
229171 T A 3 4-5-3-6-22-48 FS $1,749,000 Kaiulani Of Princeville #48 2,476 #48 3/3
229379 T A 2 4-5-4-5-24-80 FS $449,000 Nihilani At Princeville Resort #27B 1,567 #27B 2/2.5
229381 T A 2 4-5-4-5-24-94 FS $649,000 Nihilani At Princeville Resort #32A 1,874 #32A 3/2.5
228792 T A 6 4-5-4-5-24-72 FS $798,000 Nihilani At Princeville Resort #24C 1,972 #24C 3/3

WITHDRAWN
207615 T W 619 4-5-3-6-22-9 FS $2,100,000 Kaiulani Of Princeville #9 2,864 #9 3/3.5

PRICE CHANGES
225703 T A 128 4-5-4-15-21-34 FS $209,000- Sandpiper Village I #134 1,042 #134 2/2
229139 T A 9 4-5-4-5-17-15 FS $349,000- Alii Kai Ii Hanalei #9G 1,037 #9G 2/2
218778 T A 345 4-5-4-5-18-60 FS $367,500- Puamana #17A 1,312 #17A 2/2
228178 T A 39 4-5-4-5-24-41 FS $400,000- Nihilani At Princeville Resort #14B 1,567 #14B 2/2.5
229003 T A 10 4-5-4-5-24-8 FS $425,000- Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
225686 T A 129 4-5-4-5-16-57 FS $499,000- Alii Kai At Hanalei #7202 886 #7202 2/2

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

Villas on the Prince 19 is new on the market this week listed for $850K. This agent owned unit last sold for $520K in 6/02. Ka'iulani 27, purchased for $1,652,100 in 8/07 is back on the market listed at $1.695K. This unit was previously listed from 10/07 to 10/08 for $1.965M. It was reduced to $1.85M by the time it was withdrawn. It was listed a second time from 11/08 to 11/09 starting at $1.850M and ending at $1.795M when it was again withdrawn. Ka'iulani 48, purchased for $1,502,610 in 9/07 is also back on the market listed at $1.749M. This unit was listed from 1/08 to 8/08 starting at $1.9M and reducing to $1.799M, and again from 8/08 to 6/09 for $1.799M.

There are several Nihilani units coming onto the market this week, starting with 27B. Purchased in 10/06 for $682,180 and listed this time for $449K, this agent owned unit was listed before from 10/06 to 4/07 for $779K and reduced to $749,900, from 3/08 to 6/08 for $699K and once again from 7/08 to 9/08 during which time it went from $685K to $539,900 before being withdrawn. Nihilani 32A, an agent owned unit purchased for $985K in 3/06 was previously listed from 7/08 to 9/08 at a high price of $999K reducing to $739,900 when it was withdrawn. Nihilani 24C makes it's debut as a new listing priced at $798K. This unit last sold in 12/06 for $876,145. No properties went into escrow, sold, expired, or were temporarily withdrawn this week.

Ka'iulani 9, listed for $2.1M and purchased for $2,008,270 from the developer in 2/09 was withdrawn after being listed from 3/08 to 11/09 with no price reductions and 619 days on the market.

As for price changes - Sandpiper 134, listed for $225K reduced to $209K. This unit sold for $485K in 7/05 and is a short sale. Ali'i Kai 9G, purchased for $151K in 12/09 reduced from $369K to $349K. Puamana 17A purchased in 3/04 for $320K went from $425K to $367,500. Nihilani 14B, purchased from the developer in 3/06 for $594,102 had a major price reduction, going from $475K to $400K as a short sale. Nihilani 3B, a developer's unit, reduced in a similar fashion going from $485K to $425K. Our final reduction is Ali'i Kai 7202, which also had a nice reduction going from $575K to $499K. This agent owned unit sold for $115K in 1/88. Now on to your Princeville home update:

Copyright 11/15/2009 by Hawaii Information Service

NEW LISTINGS
229218 RS A 3 4-5-4-24-11 FS $685,000 4240 Waileia Pl 12,336 sqft 2,074 3/2
229262 RS A 4 4-5-4-14-26 FS $1,625,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5

WITHDRAWN
225087 RS W 144 4-5-4-14-26 FS $1,625,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5
220623 RS W 284 4-5-4-13-74 FS $2,495,000 3651 Albert Rd 10,838 sqft 3,218 3/3.5

PRICE CHANGES
218770 RS A 342 4-5-4-16-77 FS $699,000- 4117 Kekaulike Ln 10,650 sqft 3,100 3/2.5
227771 RS A 58 4-5-4-13-72 FS $1,095,000- 3661 Albert Rd 10,466 sqft 2,655 3/3.5
186555 RS A 1,058 4-5-4-4-38 FS $7,999,000- 4971 Hanalei Plantation 1.25 ac 4,630 4/4.75

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

As you can see from the update, it was a relatively slow week in terms of any real activity, however, there were some very attractive reductions this past week which will hopefully spur some buyers to get off the fence and into the game. Some think the market has reached bottom while others feel there is still a little more room left. In either case, I feel that if you can find something you like, get it now while you can. Rates are at historic lows and despite the bloated inventory, when it comes right down to it, I can pretty much guarentee that for most buyers, there will only be one or two properties that will interest them enough to actually want to make a purchase. If you are a buyer, don't let something you like slip through your fingers. And sellers, if you are not in line with the market, take a look at the reductions this week and see if you need to make a similar reduction to attract a buyer to your property.

Regardess of if you are buying or selling, call or email me for the facts on any property on the Island. That's why I'm here, to help you!

Aloha Elaine

View of the flooded taro field and Hanalei River after the rain this weekend

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!

Aloha,

It was a relatively quiet week with periods of pouring rain. Activity remains relatively slow as you'll see from this weeks update. The renovation of the timeshare units at the Cliffs is almost complete which means we'll have guests returning to buildings 7, 8 and 9 which will eliminate the favorable parking spots I've become accustomed to during the renovation. For those of you unfamiliar with the Cliffs, in addition to whole ownership, there are two timeshare associations that are also here. I have a second floor unit and am happy to have timeshare above and below me. The reasons I like timeshare neighbors are 1) They seldom have big family fights as they are here on vacation; 2) They aren't dragging a bunch of other people into the unit because they don't know anyone else and 3) They don't stockpile food (and attract bugs) because as I said before, they are only here for a week.

I also like living with timeshare because the grounds and common area building are always in great condition, after all, guests are only here for a week so everything has to look good pretty much all the time. However, for a "whole unit" buyer, lending is tricky because the Cliffs is a condhotel, has leasehold and fee simple units the majority of which are timeshare. On to your update:

Copyright 11/8/2009 by Hawaii Information Service

NEW LISTINGS
229139 T A 2 4-5-4-5-17-15 FS $369,000 Alii Kai Ii Hanalei #9G 1,037 #9G 2/2
228973 T A 6 4-5-4-12-8-24 LH $449,000 Pali Ke Kua Ii #130 1,100 #130 2/2
229003 T A 3 4-5-4-5-24-8 FS $485,000 Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
229125 T A 2 4-5-4-5-16-33 FS $785,000 Alii Kai At Hanalei #4301 1,086 #4301 2/2
227902 T A 3 4-5-4-6-1-27 FS $845,000 Villas Of Kamalii #27 1,815 #27 3/3
228874 T A 6 4-5-4-5-16-24 FS $940,000 Alii Kai At Hanalei #3204 1,085 #3204 2/2

CONTINGENT SALES
204804 T C 514 4-5-4-5-39-33 FS $230,000 Cliffs At Princeville #2103 917 #2103 1/2

SALES
211781 T S 408 4-5-4-5-3-24 FS $324,900 Princeville Paniolo #211 1,058 #211 1/2
SOLD 11/4/2009 for $300,000 (CNV) DOM 408

219219 T S 327 4-5-4-5-30-20 FS $325,000 Princeville Mauna Kai #D302 1,488 ##25 3/2
SOLD 11/3/2009 for $350,000 (CNV) DOM 327

EXPIRED
225541 T X 122 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2

WITHDRAWN
217907 T W 342 4-5-3-6-22-27 FS $1,795,000 Kaiulani Of Princeville #27 2,864 #27 3/3.5

TEMPORARILY WITHDRAWN
226309 T T 96 4-5-4-15-21-23 FS $325,000 Sandpiper Village I #123 1,042 #123 2/2

PRICE CHANGES
222635 T A 184 4-5-4-5-12-19 FS $349,999- Sealodge Ii #H1 556 #H1 1/1

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

Of the 6 new listings only 2 are actually new to the market. Ali'i Kai 9G, listed at a new lower price of $369K was purchased for $151K in 12/99, and was listed from 7/05 to 1/06 for $615K and again from 2/06 to 9/09 starting at $629K and reducing to $380K. The agent owned leasehold Pali Ke Kua 130 was purchased for $429K in 3/06 and is back this time listed at $449K. This unit was previously listed from 8/06 to 5/07 starting at $699K and reducing to $649K, from 6/07 to 6/08 during which time it went from $649K to $575K and once again from 7/08 to 9/09 starting at $575K. It reduced to $399K at one point before going back up to $449K which is where it expired.

Nihilani is now allowing some of the resale agents to list their developer units in the hope that it will create more interest and greater exposure. That's the case with Nihilani 3B, currently listed for $485K with an agent who is not with Brookfield. This unit was previously listed by the Brookfield agents from 7/07 to 1/08 starting at $700,500 and reducing to $699K and was also listed from 4/08 to 10/09 with a high list price of $686,200 ending at $485K. Ali'i Kai 4301 last sold for an all time high of $1,157,500 on 6/06 and is now listed for $785K. It was previously listed from 9/08 to 9/09 starting at $919K and reducing to $895K. It is not showing as a short sale. Villas of Kamali'i 27 is back on the market as a new listing at the old price of $845K. It was listed at this price from 10/08 to 10/09. Ali'i Kai 3204 is the only other "new" listing at $940K. This unit last sold for $365K on 8/02.

One of the "lender approved" short sales went into escrow this week: Cliffs 2103 listed for $230K after 513 days on the market. Some of you have asked why it takes so long for a unit to go into escrow when the price seems so reasonable. This unit was first listed from 4/05 to 11/05 starting at $560K and dropping to $539K before being withdrawn. It came back on the market in 12/05 listed for $539K and reduced to $529K before expiring in 8/06. It was listed again from 2/07 to 3/07 for a low of $475K and was withdrawn while listed at $485K. This most recent listing started out at $495K in 12/07 and kept reducing until it reached the price of $230K on 7/09, gaining short sale approval from the bank at that price on 9/09. So although it may appear as if it's been sitting as an approved short sale all this time, that is not the case.

Paniolo 211, listed for $324,900 closed at $300K after 408 days on the market. Purchased in 12/89 for $125K this unit started out at $427K when it first came on the market. Mauna Kai 25, purchased in 8/07 for $585K and listed as a short sale for $325K closed at $350K. This unit started out at $524,500 327 days ago.

My Pu'u Po'a 404 listing expired this week priced at a very favorable $1.095M. This unit last sold for $325K in 7/91. Ka'iulani 27, purchased for $1,652,100 in 8/07 was withdrawn from the market listed at $1.795M after 342 market days. Sandpiper 123 listed for $325K and purchased for $359K in 8/04 was temporarily withdrawn from the market. Surprisingly, we are setting a new record this week in price changes in that there is only, but it's a very good one on Sealodge H1 which went from $499K to $349,999. Purchased in 8/05 for $560K this unit does not appear to be a short sale.

On to your Princeville home update:

Copyright 11/8/2009 by Hawaii Information Service

NEW LISTINGS
228923 RS A 3 4-5-4-9-42 FS $1,200,000 4184 Kekuanaoa Ln 13,913 sqft 2,940 3/3.5

BACK ON THE MARKET
209942 RS A 551 4-5-4-8-9 FS $999,000 3887 Punahele Rd 11,139 sqft 3,246 4/3

EXPIRED
224783 RS X 150 4-5-4-13-37 FS $1,875,000 3584 Kaweonui Rd 14,685 sqft 3,500 4/3.5

WITHDRAWN
208122 RS W 618 4-5-4-7-19 FS $1,135,000 3928 Punahele Rd 9,999 sqft 1,694 3/2

PRICE CHANGES
226182 RS A 103 4-5-4-16-7 FS $795,000- 5029 Emmalani Dr 10,500 sqft 3,304 4/3
227098 RS A 73 4-5-4-18-45 FS $820,000+ 4165 Kamalani Ln 10,235 sqft 2,405 3/3.5
224404 RS A 165 4-5-4-14-4 FS $998,000- 3792 Keli'i Pl 10,481 sqft 2,523 3/2.5

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

That's it for this week. Please do not hesitate to call or email with any questions. I spend a good part of my life on the computer trying to keep buyers and sellers up to date - in other words, that's why I'm here so contact me and I'll fill you in on the history be it a condo, house or land anywhere on the Island. Have a great week! And for those of you who asked, no I am not changing my last name now that I am married.

Aloha Elaine

Sting ray seen from our boat in Bora Bora. Can you believe how clear the water is?

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!

Hanalei - Princeville, Kauai -Condo Sales Statistics

Wow! It just keeps getting better for buyers. What a great time to buy! Look at the condo sales statistics for year-to-date through October. The market continues to be very slow and prices are declining in Hanalei District (the North Shore of Kauai, Hawaii). The majority of the condos in Hanalei District are located in Princeville. There were only 46 condos sold this year from January - September. That is the fewest number of sales in 11 years. The median sales price has droppped to 2005 levels. There are some great buys out there right now. Call me before the really great ones are sold. So here are the condo sales statistics for Hanalei District:

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Do you want some information about Emmalani Court located in Princeville, Hawaii and the condo sales statistics?

Emmalani Court is a small complex of 42 one, two and three bedoom condominiums on approximately 4.7 acres overlooking a bluff adjacent to the Princeville Makai Golf Course. Emmalani Court buildings 1,2,& 3 were built in 1992 while buildings 4 & 5 were completed in 1994 after the hurricane. It is one of the few complexes that has a party/meeting room. It has a swimming pool and jacuzzi and barbecue area. There is a full time resident manager that lives on site.

Emmalani Court is is walking distance to the newly opened St Regis Hotel. Restaurants and shopping at the Princeville Shopping Center are nearby. Hanalei Beach is just a few minutes drive from Princeville.

Currently, there is only one condominium on the market offered for sale. It is the larger of the two bedroom units (1456 square feet) and is an end unit in Building Four. The condominium is offered at $595,000.

Here are the condos sales statistics for Emmalani Court. No, I am not missing the 2008 condo sales statistics. There were no sales that year.

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