Princeville, HI

Aloha,

If you were on Island this Sunday you may have gone to the Taste of Kauai, an annual fundraiser for the Kapaa Rotary. They've been doing the "Taste" for as long as I can remember and it's become an event not to be missed if you love good food, great entertainment and a good time. Check it out next year if you've never been there. The weather even cooled off a bit for the event with intermittent light showers which surely brought relief as it's held outside at the Smith Tropical Garden in Kapaa. On to your update:

Copyright 6/7/2009 by Hawaii Information Service

NEW LISTINGS
222233 T A 2 4-5-4-5-39-45 FS $275,000 Cliffs At Princeville #2205 917 #2205 1/2
224662 T A 3 4-5-4-5-24-46 FS $575,000 Nihilani At Princeville Resort #16A 1,406 #16A 2/2
224756 T A 2 4-5-4-6-1-29 FS $839,000 Villas Of Kamalii #29 1,825 #29 3/3

UNDER CONTRACT
220199 T U 131 4-5-4-5-13-4 FS $289,900 Kamahana #4 1,145 #4 2/2

EXPIRED
212117 T X 364 4-5-4-5-39-175 FS $995,000 Cliffs At Princeville #8201 963 #8201 1/2

WITHDRAWN
216801 T W 57 4-5-4-12-9-28 LH $252,000 Pali Ke Kua Iii #238 993 #238 1/1.5

PRICE CHANGES
223402 T A 48 4-5-3-11-1-30 FS $699,995- Villas On The Prince #30 1,732 #30 3/3
208801 T A 425 4-5-4-11-3-84 FS $329,000- Hanalei Bay Resort #N22 867 #N22 1/2
220906 T A 121 4-5-4-5-23-21 FS $505,000- Plantation At Princeville #611 1,153 #611 2/2
209200 T A 438 4-5-4-5-7-5 FS $597,000- Princeville Sealodge #A5 564 #A5 1/1
218310 T A 139 4-5-4-12-5-9 FS $819,000- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 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.

Cliffs 2205 is new on the market at $275K with a purchase price of $425K in 10/06. Great pricing for this unit and it should go quickly if there's someone out there looking for a Cliffs unit. Did I mention that the Cliffs' new pool, complete with waterfalls and other water features, is finally completed and open? What a great job they did! If you're remotely thinking about a Cliffs condo come and see the added value the pool gives to the resort. Yes, I do live at the Cliffs and although I don't have much time to take advantage of the many amenities, they certainly have plenty to do here right on site. Next up is a Nihilani resale on unit 16, listed at $575K and purchased from the developer in 5/06 for $603,600. This is the smallest model Nihilani offered, the 2 bedroom, 2 bath Moana floor plan and is listed at only $25K less than what many of the 3 bedroom 2.5 bedroom townhouse units have sold for recently. It was previously listed for 2/07 to 8/07 starting at $668K and dropping to $639K before it was withdrawn. Our last listing is also a "repeat," Villas of Kamali'i 29 which sold for $750K in 6/05. Previously listed from 2/08 to 2/09 with a start price of $925K and an end price of $855K when it was withdrawn, it is now listed for $839K. This is a pretty unit located at the far end of the complex offering quite a bit of privacy. Sold furnished, this unit is done tastefully and carefully so as to provide a very tranquil and relaxing environment.

Kamahana 4, a bank REO went under contract this week. Purchased for $499K in 9/05, it was taken by the bank on 2/09 and placed on the market at $354,900, reducing to the current price of $289,900 on 5/4. That's the only sales activity for this week.

Cliffs 8201, the highest selling Cliff's condo I'm aware of expired listed at $995K. It sold for an unbelievable $1.075M on 4/06 and came on the market 364 days ago at $1.495M. I guess the seller of Pali Ke Kua 238 finally gave up on selling their leasehold unit for $252K as it was withdrawn this week. This condo sold for $369K in 5/04 and was on the market over 862 days, from 3/06 to 10/08 when it was withdrawn. It started at $699K, reducing to $335K during the life of the listing. The issue with this unit is that it's leasehold with a leasehold fee (monthly) of $795K and monthly HOA fees of $585K. Throw in the taxes at slightly $4892 annually, add in insurance and utilities and even those optimistic buyers looking to break even or have a positive cash flow on a purchase would have a hard time doing it with this unit. It was a short sale and may show up in the future as a foreclosure. We'll see.

Price changes are the next order of business starting with Villas on the Prince 30 which went from $719,500 to $699,995. Purchased for $565K in 3/04 this unit has been listed at least 5 times with different agents, with a list price of $1.149M at one point in time. It was listed for $935K in 1/07 and for $795 in 10/08. With this new reduction it seems the sellers are finally coming in line with the market. Hanalei Bay Resort N22 reducing again this week from $339K to $329K. This unit sold for $469,900 in 10/06. Plantation 611, purchased for $630K in 10/06 reduced from $559K to $505K. Sealodge A5, purchased for $225,500 in 7/01, gets the award for price changes this week, going from $677K to $597K. Let's see if that helps it to attract a buyer. And last but not least, we still have Pali Ke Kua 109 which is reducing by $500 a day, which, as of this report, is now listed at $819K.

Here is your Princeville home update for this past week:

Copyright 6/7/2009 by Hawaii Information Service

NEW LISTINGS
224597 RS A 3 4-5-3-12-27 FS $1,495,000 3962 Aloalii Dr 8,327 sqft 3,290 2/3

BACK ON THE MARKET
222510 RS A 52 4-5-4-23-76 FS $750,000 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5
220108 RS A 134 4-5-4-16-19 FS $770,000 4064 Kaa'humanu Pl 12,058 sqft 2,274 3/2
223132 RS A 26 4-5-4-16-71 FS $779,000 4381 Emmalani Dr 12,127 sqft 1,170 2/2

CONTINGENT SALES
212844 RS C 351 4-5-4-22-5 FS $639,000 4077 Cr Pauahi Pl/nalani 10,270 sqft 2,169 4/2

EXPIRED
WITHDRAWN
220705 RS W 122 4-5-4-19-19 FS $825,900 5086 Napo'okala Cir 15,326 sqft 2,206 3/3

PRICE CHANGES
224336 RS A 16 4-5-4-23-38 FS $545,000- 3812 Iluna Pl 6,895 sqft 1,310 3/2
223132 RS A 26 4-5-4-16-71 FS $779,000- 4381 Emmalani Dr 12,127 sqft 1,170 2/2
214254 RS A 312 4-5-4-18-20 FS $1,275,000- 4173 Kalani Pl 10,630 sqft 3,464 4/3.5

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

It's a little quiet now as school lets out and parent's gear up for summer vacation. Like everywhere else, summertime is the prime buying period and I expect, with all the great pricing and abundance of inventory, we'll see some movement within the next few months. If you have any questions or just want the facts, you know who to call or email. Have a great week!

Aloha Elaine

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's been yet another gorgeous week here in Paradise. We lost our trades for awhile but fortunately they're back keeping us cool. Along with the great weather there's been an increase in buyers out there looking. I've had more showings of my listings as well as showing properties to my clients. We even had three units go into escrow this week. Read on to your update for this past week:

Copyright 5/30/2009 by Hawaii Information Service

NEW LISTINGS
224335 T A 4 4-5-4-15-21-11 FS $299,000 Sandpiper Village I #111 1,042 #111 2/2
224493 T A 2 4-5-4-12-3-9 FS $955,000 Hanalei Bay Villas #9 1,244 #9 2/2.5

BACK ON THE MARKET
211499 SH A 368 4-5-4-6-1-20 FS $250,000 Villas Of Kamalii #20 1,825 #20 3/3
211496 SH A 368 4-5-4-6-1-20 FS $250,000 Villas Of Kamalii #20 1,825 #20 3/3
196334 SH A 736 4-5-4-6-1-42 FS $250,000 Villas Of Kamalii #42 1,825 #42 3/3
211500 SH A 368 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211498 SH A 368 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211497 SH A 368 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211495 SH A 368 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
196328 SH A 736 4-5-4-6-1-42 FS $265,000 Villas Of Kamalii #42 1,825 #42 3/3
222635 T A 22 4-5-4-5-12-19 FS $498,000 Sealodge Ii #H1 556 #H1 1/1

CONTINGENT SALES
221227 T C 97 4-5-4-5-3-17 FS $235,000 Princeville Paniolo #202 1,058 #202 1/2
221018 T C 105 4-5-4-5-12-28 FS $615,000 Sealodge Ii #J1 754 #J-1 2/2
210693 T C 376 4-5-4-5-24-28 FS $650,000 Nihilani At Princeville Resort #10A 1,874 #10A 3/2.5

SALES
217211 T S 164 4-5-4-5-39-39 FS $325,000 Cliffs At Princeville #2109 917 #2109 1/2
SOLD 5/29/2009 for $275,000 (CASH) DOM 164

WITHDRAWN
223999 T W 200 4-5-4-11-3-95 FS $569,000 Hanalei Bay Resort #P13 867 #1105/6 1/2
223273 T W 41 4-5-4-5-7-38 FS $997,000 Princeville Sealodge #D9 570 #D9 1/1

TEMPORARILY WITHDRAWN
209599 T T 350 4-5-4-15-21-31 FS $350,000 Sandpiper Village I #131 1,042 #131 2/2

PRICE CHANGES
221121 T A 107 4-5-4-5-3-3 FS $209,900- Princeville Paniolo #103 1,058 #103 1/2
207634 T A 464 4-5-4-5-39-16 FS $275,000- Cliffs At Princeville #1206 917 #1206 1/2
208801 T A 417 4-5-4-11-3-84 FS $339,000- Hanalei Bay Resort #N22 867 #N22 1/2
222635 T A 22 4-5-4-5-12-19 FS $498,000- Sealodge Ii #H1 556 #H1 1/1
214427 T A 299 4-5-4-5-17-23 FS $499,000- Alii Kai Ii Hanalei #10G 1,037 #10G 2/2
214768 T A 290 4-5-4-5-12-35 FS $625,000- Sealodge Ii #J8 743 #J8 2/2
218310 T A 131 4-5-4-12-5-9 FS $840,400- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
210693 T C 376 4-5-4-5-24-28 FS $650,000- Nihilani At Princeville Resort #10A 1,874 #10A 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.

There are two new listings this week starting with Sandpiper 111 at $299K. This is the first time we've seen a Sandpiper drop down into the $200's. It was purchased in 2/03 for $215K. Also new this week is Hanalei Bay Villa 9, which sold very recently for $855K on 12/08. Even though the remarks describe how upgraded this unit is, it does not appear that it has been upgraded since it was purchased in December as evidenced by the fact that the current listing uses the exact same 10 photos that were used when the property sold previously. It is listed this time for a hefty $955K which is only a $100K increase from December.

The fractional shares of Villas of Kamali'i 20, which expired last week are back on the market along wtih Sealodge H1 which had been temporarily taken off the market. Kamali'i sold for $845K in 6/08 and Sealodge sold for $560K in 8/05.

Panilolo 202 is back in escrow after coming back on the market due to falling out of escrow on 5/20. Let's hope it stays in escrow this time. Sealodge J1 also went into escrow listed at $615K after 105 days on the market. This unit was previously listed from 6/08 to 1/09 starting at $729K and reducing to $615K on 12/24/08. It expired while listed at $615K but has obviously fared better this time listed at the same price. The Nihilani developer keeps plugging along selling their units with yet another one going into escrow this week. Unit 10A went into escrow listed at $650K and will undoubtedly close at the same price.

Cliffs 2109 closed this week at $275K with a list price of $325K which is a 15% price decrease. This unit sold for $183K in 11/02. The sale of this unit proves you can still make money in real estate if you do it the old fashioned way which was to hold on to it for more than 20 seconds!

Hanalei Bay Resort 1105/06, purchased for $495K in 12/07 and listed for $569K and Sealodge D9 listed for $997K were both withdrawn. Sandpiper 131, which sold for $110K in 4/01 was temporarily withdrawn listed at $350K.

Paniolo 103 is the first price change, going from $239,900 to $209,900. This unit was taken over by the bank on 1/09 but sold previously for $410K in 4/01. Cliffs 1206, purchased for $520K in 9/05 reduced from $310K to $275K. Hanalei Bay Resort N22 went from $349K to $339K and last sold in 1/06 for $469,900. Sealodge H1, purchased for $560K in 8/05 reduced from $509K to $498K. Ali'i Kai 10G, which sold for $129,500 in 6/89, made a very nice price reduction from $599K to $499K. Sealodge J8, which sold for $323K in 10/01, also made a healthy reduction from $728K to $625K. Pali Ke Kua 109 continues with it's $500 daily reduction and is at $839,400 as of the date of this update. Nihilani 10A, which went into escrow this week, came down from it's previously too high price of $765K to $650K as it went into escrow.

Here is your Princeville home update for this past week:

Copyright 5/30/2009 by Hawaii Information Service

NEW LISTINGS
224065 RS A 5 4-5-4-9-62 FS $849,000 5371 Honoiki Rd 16,710 sqft 1,410 3/3
224404 RS A 3 4-5-4-14-4 FS $1,115,000 3792 Keli'i Pl 10,481 sqft 2,523 3/2.5
224455 RS A 3 4-5-4-16-20 FS $1,400,000 4066 Kaahumanu Pl 11,857 sqft 3,424 3/3

WITHDRAWN
214181 RS W 293 4-5-4-24-12 FS $1,295,000 4246 Waileia Pl 11,741 sqft 3,006 4/3

PRICE CHANGES
223366 RS A 43 4-5-4-15-1 FS $511,900- 3995 Kamehameha Rd 10,244 sqft 2,117 3/2
210765 RS A 389 4-5-4-23-24 FS $685,000- 3807 Makani Kai Pl 10,386 sqft 1,535 3/2

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

I mentioned seeing a green flash last week while watching the setting sun. Has anyone else been fortunate enough to see one? Not every night affords a green flash opportunity as there are here are often clouds along the horizon, as seen in the photos below of a sunset over the weekend.

Have a great week and don't forget to call or email if you want the facts before you buy or sell.

Aloha Elaine

Going....

Clouds on the horizon..

Close up of clouds on the horizon.

Going going

Gone! The end of another perfect day in Paradise.

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,

Hope you are all enjoying a fun filled Memorial Day weekend. Since the Hanalei Beaches were just voted #1 in the US by Dr. Beach, I decided it would be a good place to work on my tan. Fortunately the weather is cooperating with bright blue skies and plenty of sun. I was even treated to the Green Flash tonight when the sun went down. You don't always get to see this phenomenon... as there's often a small line of clouds on the horizon line that prevent you from seeing the sun as it disappears into the ocean. That's when you see the flash .... just as the sun slips into the water. There's plenty of controversy and information as to what causes a green flash. I'm not all that interested in the scientific reason but I am delighted each time I am privileged to witness one. Check it out the next time you're here.

Here is your update for this past week:

Copyright 5/23/2009 by Hawaii Information Service

NEW LISTINGS
224267 T A 2 4-5-4-12-9-19 FS $765,000 Pali Ke Kua Iii #141 1,148 #141 2/2

BACK ON THE MARKET
221227 T A 90 4-5-4-5-3-17 FS $235,000 Princeville Paniolo #202 1,058 #202 1/2
208801 T A 410 4-5-4-11-3-84 FS $349,000 Hanalei Bay Resort #N22 867 #N22 1/2

CONTINGENT SALES
209062 T C 424 4-5-4-5-24-51 FS $695,000 Nihilani At Princeville Resort #17C 1,874 #17C 3/2.5
222524 T C 59 4-5-4-12-11-53 FS $1,500,000 Puu Poa #411 1,777 #411 2/2

SALES
222630 T S 7 4-5-4-12-10-20 FS $330,000 Emmalani Court #323 952 #323 1/2
SOLD 5/22/2009 for $330,000 (CNV) DOM 7

EXPIRED
211499 SH X 363 4-5-4-6-1-20 FS $250,000 Villas Of Kamalii #20 1,825 #20 3/3
211496 SH X 363 4-5-4-6-1-20 FS $250,000 Villas Of Kamalii #20 1,825 #20 3/3
211500 SH X 363 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211498 SH X 363 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211497 SH X 363 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211495 SH X 363 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
218092 T X 180 4-5-4-5-3-15 FS $650,000 Princeville Paniolo #115 1,058 #115 1/2

WITHDRAWN
214373 T W 290 4-5-4-5-23-58 FS $575,000 Plantation At Princeville #1512 1,153 #1512 2/2
210693 T W 375 4-5-4-5-24-28 FS $765,000 Nihilani At Princeville Resort #10A 1,874 #10A 3/2.5

PRICE CHANGES
223402 T A 33 4-5-3-11-1-30 FS $719,500- Villas On The Prince #30 1,732 #30 3/3
223363 T A 35 4-5-4-5-4-5 FS $299,900- Kaeo Kai Ph I #5A 1,503 #5A 2/2
208801 T A 410 4-5-4-11-3-84 FS $349,000- Hanalei Bay Resort #N22 867 #N22 1/2
208900 T A 419 4-5-4-5-4-12 FS $497,000- Ka'eo Kai Ph I #2B 2,100 #2B 3/3
222926 T A 45 4-5-4-5-24-66 FS $569,000- Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5
218310 T A 124 4-5-4-12-5-9 FS $843,900- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 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.

Pali Ke Kua 141 is the only new listing this week. This unit was purchased in 4/99 for $205K and has been completely renovated within the past year. Instead of the usual white kitchen cabinets with formica countertops, this unit has richly stained maple cabinets with granite slab countertops, stainless steel appliances, new bathrooms with travertine vanity tops, travertine floors and completely new showers / tubs. Bamboo floors make for easy care plus you have a nice ocean view from throughout the unit as well as the master suite. You've probably guessed by now that this unit, priced at $765K is my new listing!

Two units are back on the market: Paniolo 202, listed for $235K unfortunately fell out of escrow and is back on the market. This unit sold for $120K in 5/94 as a leasehold then converted for fee simple in 11/94 for $27K. Hanalei Bay Resort N22, purchased in 1/06 for $469,900 is back on active status after being withdrawn on 5/6/09. It cames back on the market reduced from $398,500 to $349K as you'll see under the price changes portion of this update.

Two properties went into escrow: Nihilani 17C, listed for $695K and purchased in 8/06 for $822,870 and Puu Poa 411, listed at $1.5M and purchased in 6/97 for $320K. Nice to see some activlity in the market. Emmalani Court 323, purchased for $275K in 4/93 barely earned the seller any gain as it closed for $330K this past week. Unbelievable.

All six fractional shares of Villas of Kamali'i 20, purchased for $845K in 6/08 expired while listed from $250K to $265K. Paniolo 115, listed at $650K also expired. This unit sold for $550K in 6/06. If you're wondering why this unit is so much more money than the other Paniolo's it's because it is one of the few free standing cottages in the complex.

Plantation 1512, purchased for $520,402 and listed for $575K was withdrawn after 290 days on the market. I guess they didn't want to reduce down to the point of a capital loss. One of the developer's Nihilani unit's, 10A, listed at $765K was also withdrawn.

Of course, we have our price changes this week, starting with Villas on the Prince 30. Purchased for $565K in 3/04, this unit reduced from $729,500 to 719,500. Ka E'o Kai 5A, which sold for $200K in 8/02 reduced from $319,900 to $299,900. Hanalei Bay Resort N22, which was also listed under back on the market, reduced from $398,500 to $349K. Ka E'o Kai 2B, had a nice $100K drop from $597K to $497K. They definitely get the price drop award this week. This unit sold for $240K in 4/01. Nihilani 22C, a resale which reduced from $599K to $569K originally sold in 11/06 for $848,950. As usual our last unit is Pali Ke Kua 109 which is still reducing by $500 a day, now listed at $843,900.

Here is your Princeville house outdate:

Copyright 5/23/2009 by Hawaii Information Service

NEW LISTINGS
224336 RS A 1 4-5-4-23-38 FS $575,000 3812 Iluna Pl 6,895 sqft 1,310 3/2
224321 RS A 2 4-5-4-18-50 FS $1,350,000 4571 Emmalani Dr 10,645 sqft 3,680 3/3.5

CONTINGENT SALES
220820 RS C 95 4-5-4-13-40 FS $995,000 3618 Keoniana Rd 12,013 sqft 3,081 4/3.5

WITHDRAWN
222312 RS W 62 4-5-3-11-32 FS $1,450,000 4066 Aloalii Dr 13,511 sqft 2,784 3/2.5

PRICE CHANGES
223364 RS A 36 4-5-4-20-31 FS $849,500+ 5141 Kapi'olani Loop 9,669 sqft 2,262 5/3
221587 SH A 85 4-5-4-9-49 FS $1,275,000- 5289 Pokii Ln 20,868 sqft 3,510 4/4
212538 RS A 341 4-5-4-17-9 FS $2,198,000- 4881 Emmalani Dr 10,852 sqft 3,510 3/4
221684 RS A 85 4-5-4-9-49 FS $2,495,000- 5289 Pokii Ln 20,868 sqft 3,510 4/4

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

Enjoy your holiday weekend and watch for the green flash! Don't forget to call or email before you buy or sell.

Aloha Elaine

"Bics" relaxing after a ride.

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 another beautiful week although we finally got the cold front along with the rain that's been promised since Friday. It started out sunny but quickly clouded over then the rain started blowing in off the ocean. It's fun to watch it come in- You see rhose who are walking to or from their cars in the parking lot suddenly look up and break into a sprint when they realize what they're looking at is a wall of water headed their way. Sometimes it just passes over in waves and other times it comes in and stays.

I'd say the market is holding steady as you'll see from the 3 closings reported in the update along wth the short sale that finally went into escrow. Here is your update for this past week:

Copyright 5/17/2009 by Hawaii Information Service

NEW LISTINGS
223902 T A 2 4-5-4-5-16-45 FS $775,000 Alii Kai At Hanalei #5301 1,086 #5301 2/2

BACK ON THE MARKET
211272 T A 365 4-5-4-5-16-35 FS $860,000 Alii Kai At Hanalei #4303 1,086 #4303 2/2

CONTINGENT SALES
204435 T C 526 4-5-4-12-10-41 FS $519,000 Emmalani Court #524 1,192 #524 2/2

SALES
222697 T S 4 4-5-3-11-1-3 FS $576,900 Villas On The Prince #3 1,737 #3 3/3
SOLD 5/15/2009 for $576,900 (CNV) DOM 4

222621 T S 26 4-5-4-12-10-12 FS $449,000 Emmalani Court #225 1,456 #225 2/2
SOLD 5/15/2009 for $440,000 (CASH) DOM 26

221272 T S 35 4-5-4-5-24-102 FS $650,000 Nihilani At Princeville Resort #34C 1,972 #34C 3/3
SOLD 5/14/2009 for $650,000 (CNV) DOM 35

UNDER CONTRACT
212736 T U 272 4-5-4-5-16-48 FS $945,500 Alii Kai At Hanalei #5304 1,085 #5304 2/2

EXPIRED
211258 T X 163 4-5-4-5-3-19 FS $349,900 Princeville Paniolo #204 1,058 #204 1/2

PRICE CHANGES
220078 T A 114 4-5-4-5-3-19 FS $259,000- Princeville Paniolo #204 1,058 #204 1/2
214486 T A 286 4-5-4-5-18-89 FS $349,000- Puamana #24D 1,532 #24D 2/2
214607 T A 279 4-5-4-12-9-9 FS $589,000- Pali Ke Kua #13 1,135 #13 2/2
223314 T A 29 4-5-4-6-1-44 FS $679,000- Villas Of Kamalii #44 1,825 #44 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.

Just one new listing this week which is Ali'i Kai 5301 listed for $775K and unfortunately purchased for $977K in 4/07! No surprise that it's a short sale. Ali'i Kai 4303 is back on the market listed at $860K after expiring. This unit was purchased for $490K in 12/03. Emmalani Court 524, a short sale listed at $519K and purchased for $700K in 7/07 finally went into escrow after 526 market days. The problem with short sales is you have no idea how long it will take to get acceptance from the lender. Typically, you can usually count on at least 2 to 4 months!

Villas on the Prince 3, a bank REO listed at $576,900 closed for that amount after only 4 days on the market. This unit was marketed extensively prior to going into foreclosure, getting as low as $695K before the bank foreclosed. This was a great buy and will certainly come back up in value over the years. Emmalani Court 225, listed for a very low $449K closed for $440K. This seller purchased in 4/93 for $397K and only made a little bit of money after all was said and done. Kudos to Brookfield for closing another of their developer units, 34C for $650K. One by one they're getting them sold. If you are looking for a new property, these units are hard to beat.

Another Ali'i Kai is in the update, this time it's 5304, listed for $945,500 which moved from contingent to under contract. We should see this one closing shortly. It was purchased for $135K in 1/87. Nice!

Paniolo 204 expired while listed at $349,900. This unit, purchased for $337,500 in 6/04 was initially listed on 5/12/08, then it went into escrow on 10/09/08 but was temporarily withdrawn on 10/22 when it apparently fell out. It never came back on the market under this MLS number and is now expiring out of the system.

Under price changes, you'll see Paniolo 204 again, but with a different listing number. When the prior listing was off the market, the seller relisted it under a new MLS number in 1/09 for $299K and has now reduced it from $279K to $259K. Quite a drop from the original list price of $349,900. It is now a short sale. Puamana 24D, purchased for $268K in 9/03 reduced from $380K to $349K. Pali Ke Kua 13, which last sold for $121K in 8/96 reduced from $609K to $589K. Villas of Kamali'i, a bank foreclosure which was purchased for $739K in 5/05 was reduced from $699,900 to $679K. Our last reduction is Pali Ke Kua 109 which is still reducing by $500 a day. Currently listed at $846,500 it was purchased for $621,400 in 12/03. On to your Princeville house update:

Copyright 5/17/2009 by Hawaii Information Service

NEW LISTINGS
224096 RS A 2 4-5-4-8-22 FS $675,000 5066 Kamamalu Lp 11,580 sqft 1,446 3/2
224144 RS A 2 4-5-4-16-65 FS $1,075,000 4465 Emmalani Dr 10,896 sqft 2,122 3/2

SALES
218263 RS S 90 4-5-4-18-22 FS $598,000 4163 Kalani Pl 9,802 sqft 1,755 2/2
SOLD 5/11/2009 for $598,000 (CNV) DOM 90

215324 RS S 227 4-5-4-9-58 FS $875,000 5345 Honoiki Rd 10,005 sqft 2,572 3/3
SOLD 5/13/2009 for $690,000 (CNV) DOM 227

EXPIRED
222510 RS X 47 4-5-4-23-76 FS $750,000 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5

WITHDRAWN
210416 RS W 344 4-5-4-21-11 FS $1,175,000 3856 Kaweonui Rd 10,796 sqft 2,442 3/2.5

PRICE CHANGES
222745 RS A 47 4-5-4-23-35 FS $647,000- 3793 Moae Pl 6,386 sqft 1,651 3/2
220531 RS A 106 4-5-4-13-44 FS $949,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2

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

I keep saying there are good buys out there and I think this week's closings make that point. 4163 Kalani Place for $598K, a short sale, originally sold for $975K in 8/06. I showed this house several times back in the day.... Kalani is a very pleasant and quiet street and this house was nicely appointed and remodeled. Although it's only 2 bedrooms it has over 1700 sqft of living space and should have one happy buyer right now. The same can probably be said for 5345 Honoiki which was listed for $875K but closed for $690K. Sometimes you just never know what a seller will accept until you try. Honoiki, although it was built in 1973, is within walking distance to the Hanalei Bay Resort with their beautiful grounds and restaurant (when it's open again) and has a magnificent mountain view from the upstairs master bedroom. A great buy.

That's it for this week. Call or email if you have questions - before you buy or sell.

Aloha Elaine

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,

Happy Mother's Day to all of our wonderful mothers. My mom passed away many years ago but I'm lucky to have a friend or two who is always ready to step in and "mother me" now and then. We all need that sometimes, no matter how old we get. We've seen a little bit of movement this week with a couple of sales and one unit going into escrow. I had several showings which is always a good sign. Here is your update for this past week:

Copyright 5/10/2009 by Hawaii Information Service

NEW LISTINGS
223649 T A 7 4-5-4-5-13-13 FS $475,000 Kamahana #13 2,073 #13 3/2
223620 T A 7 4-5-4-5-18-47 FS $599,000 Puamana #13C 1,532 #13C 2/2

BACK ON THE MARKET
210757 T A 369 4-5-4-5-16-26 FS $888,000 Alii Kai At Hanalei #4102 1,086 #4102 2/2
216008 T A 226 4-5-4-12-11-47 FS $1,295,000 Puu Poa #405 1,800 #405 2/2

CONTINGENT SALES
210999 T C 356 4-5-4-12-10-42 FS $499,000 Emmalani Court #525 1,456 #525 2/2

SALES
221489 T S 22 4-5-4-5-16-13 FS $495,000 Alii Kai At Hanalei #2201 1,086 #2201 2/2
SOLD 5/6/2009 for $420,000 (CASH) DOM 22

223690 T S 0 4-5-4-5-24-99 FS $640,000 Nihilani At Princeville Resort #33C 1,972 #33C 2/3
SOLD 5/8/2009 for $640,000 (CNV) DOM 0

EXPIRED
217510 T X 181 4-5-4-11-3-95 FS $569,000 Hanalei Bay Resort #P13 867 #1105/6 1/2

WITHDRAWN
210822 T W 308 4-5-4-5-13-28 FS $325,000 Kamahana #28 1,145 #28 2/2
208801 T W 404 4-5-4-11-3-84 FS $398,500 Hanalei Bay Resort #N22 867 #N22 1/2
213212 T W 219 4-5-4-12-3-13 FS $895,000 Hanalei Bay Villas #13 1,244 #13 2/2.5

PRICE CHANGES
220199 T A 109 4-5-4-5-13-4 FS $289,900- Kamahana #4 1,145 #4 2/2
223999 T A 183 4-5-4-11-3-95 FS $569,000+ Hanalei Bay Resort #P13 867 #1105/6 1/2
222926 T A 32 4-5-4-5-24-66 FS $599,000- Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5
218310 T A 111 4-5-4-12-5-9 FS $850,400- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
211272 T A 359 4-5-4-5-16-35 FS $860,000- Alii Kai At Hanalei #4303 1,086 #4303 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.

The first new listing has been on the market several times before. Kamahana 13, currently listed for $475K, and purchased in 10/05 for $640K was previously listed from 5/06 to 9/07, starting at $719K and reducing to $686K. It was relisted in 12/07 for $686K and came off the market in 12/08 while listed at $499K. At least this seller is aware of the market and is pricing in the hopes of selling. Next up is Puamana 13C, purchased for $589K in 11/05 and listed for $599K. Compared to the others it seems a little high - these are the other Puamanas listed at this time:

Copyright 5/10/2009 by Hawaii Information Service

214486 T A 279 4-5-4-5-18-89 FS $380,000 Puamana #24D 1,532 #24D 2/2
223148 T A 11 4-5-4-5-18-71 FS $382,750 Puamana #20A 1,532 #20A 2/2
221307 T A 75 4-5-4-5-18-86 FS $385,000 Puamana #24A 1,312 #24A 2/2
206918 T A 655 4-5-4-5-18-91 FS $385,000 Puamana #25B 1,532 #25B 2/2
222149 T A 59 4-5-4-5-18-1 FS $410,000 Puamana #1A 1,312 #1A 2/2
221962 T A 62 4-5-4-5-18-30 FS $416,900 Puamana #8C 1,532 #8C 2/2
218778 T A 156 4-5-4-5-18-60 FS $435,000 Puamana #17A 1,312 #17A 2/2
219363 T A 135 4-5-4-5-18-68 FS $449,000 Puamana #19B 1,660 #19B 3/2
216508 T A 213 4-5-4-5-18-38 FS $499,500 Puamana #11A 1,312 #11A 2/2
217229 T A 193 4-5-4-5-18-6 FS $549,000 Puamana #2B 1,532 #2B 2/2
191813 T A 810 4-5-4-5-18-21 FS $579,000 Puamana #6B 1,732 #6B 3/2
223620 T A 7 4-5-4-5-18-47 FS $599,000 Puamana #13C 1,532 #13C 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.

Ali'i Kai 4102 is back on the market still listed at $888K after expiring with 369 days on the market. It was purchased in 6/00 for $261K. Pu'u Po'a 405, purchased for $430K in 1/00 is back on the market after going into escrow on 1/16. It's always unfortunate to have a property off the market for several months only to have the escrow be cancelled for whatever reason and find yourself back on the market. This unit is listed at $1.295M.

Emmalani Court 525 finally found a buyer with 356 days on the market. Purchased in 1/03 for $400K, this unit started out at $675K in 5/08, reduced to $499K in 4/09 and went into escrow on 5/9. I'm happy to report that Ali'i Kai 2201, which was my listing, went into escrow in only 22 days and closed on 5/6 at $420K. This unit was purchased in 12/98 for $137,500. Another developer's Nihilani unit closed escrow; unit 33C which was listed for $640K, closing for the same amount. Get them while you can-the developer is selling out one by one!

Hanalei Bay Resort 1105/06 expired after 181 days listed at $569K. It was previously listed from 11/08 to 5/09 for $569K with no takers. Several units were withdrawn starting with Kamahana 28, listed for $325K and purchased for $599K in 4/06. This was a short sale. Hanalei Bay Resort N22 was also withdrawn while listed at $389,500. This unit sold for $469,900 in 1/06. Also withdrawing is Hanalei Bay Villas 13, listed for $895K and purchased for $235K in 5/99. Unfortunately, the MLS only shows loans on the properties when they were purchased - not any refinancing. I often wonder why some of these units are not reduced to sell as it appears, in this case as in others, there is more than ample equity to do so. But - you never know if the equity was already taken out or what the needs of the seller are.

Moving right along to our favorite: Price reductions. They start with Kamahana 4, which sold for $499K in 9/05 and was taken by the bank in 2/09 then reduced from $328,900 to $289,900. Now that's getting down there! If you're looking for a 2 bedroom 2 bath condo this might do it for you. Hanalei Bay Resort 1105/06 which shows as expiring as of 5/3 listed at $569K, apparently came back on the market on 5/8 at $565K and was immediately increased to the prior price. Just a correction on that one - not really an increase although it appears that a correction in the opposite direction might be more helpful in getting it sold. Nihilani 22C, a resale originally purchased for $848,956 on 11/06 reduced from $620K to $599K as a short sale. This Makani unit is beautifully upgraded and gives the developer's 15B Makani listed at $648K a run for it's money. 22C is in a less desirable location if you don't like noise as it faces onto the main road in Princeville (Ka Haku) but if you like views, and a little traffic noise doesn't bother you, then this might be the one to consider. As you might expect, it is a short sale.

Pali Kei Kua 109A continues to reduce by $500 a day while Ali'i Kai 4303, purchased for $490K in 12/03 reduced from $875K to $860K. That's your condo updat for this week. Now on to your Princeville home update:

Copyright 5/10/2009 by Hawaii Information Service

NEW LISTINGS
223822 RS A 6 4-5-4-13-6 FS $679,000 3695 Kaweonui Rd 11,121 sqft 2,492 4/2

BACK ON THE MARKET
220705 RS A 97 4-5-4-19-19 FS $825,900 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
214181 RS A 273 4-5-4-24-12 FS $1,295,000 4246 Waileia Pl 11,741 sqft 3,006 4/3

UNDER CONTRACT
219148 RS U 144 4-5-4-15-16 FS $588,900 3834 Haulani Pl 11,020 sqft 2,048 3/3

EXPIRED
211122 RS X 361 4-5-4-13-37 FS $1,975,000 3584 Kaweonui Rd 14,685 sqft 3,500 4/3.5

WITHDRAWN
215193 RS W 255 4-5-4-23-8 FS $674,000 4838 Ou Pl 8,104 sqft 1,213 3/1.5

TEMPORARILY WITHDRAWN
223132 RS T 23 4-5-4-16-71 FS $799,000 4381 Emmalani Dr 12,127 sqft 1,170 2/2

PRICE CHANGES
223366 RS A 23 4-5-4-15-1 FS $524,900- 3995 Kamehameha Rd 10,244 sqft 2,117 3/2
213870 RS A 290 4-5-4-6-12 FS $565,000- 4154 Lei O Papa Rd 11,369 sqft 1,544 2/2
212844 RS A 323 4-5-4-22-5 FS $639,000- 4077 Cr Pauahi Pl/nalani 10,270 sqft 2,169 4/2
220705 RS A 97 4-5-4-19-19 FS $825,900- 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
218518 RS A 150 4-5-4-23-71 FS $849,000- 3784 Mapuana Pl 9,985 sqft 1,857 3/2.5
220531 RS A 99 4-5-4-13-44 FS $960,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2

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

I haven't seen the new listing on Kaweonui for $679K lately but if I was in the market for a home, I might have my agent take me to see it. I used to live off of Kaweonui and know it to be a very nice, quiet street. This home sold for $1.015M in 11/06 and appears to have been quit claimed to the bank as of 3/09. Not really sure though at this point. I've been in this home in the past while it was listed from 5/08 to 7/08 for $1.4M. During this time it reduced to $1.160M. It was listed again from 7/08 to 12/08 as a possible short sale for $899K. My vague recollection of this home is that the floor plan did not flow whatsoever. Maybe I'll take a refresher look this week if time permits.

That's it for now. Hope your day was filled with either giving or receiving flowers, balloons, candy and all other good things. When it comes to buying or selling call or email to get the facts before you make a move. That's why I'm here.

Aloha Elaine

A fragrant plumeria for you!

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!