Elaine Schaefer (R, BIC, CRS, GRI, ABR)

Aloha,

Happy Father's Day to all of you dads out there. Hope you are enjoying your day! I spent part of the week over in Oahu enjoying the "Big City" and all it's shopping, restaurants and movies. I never rent a car but instead enjoy walking from one end of Waikiki to the theatres at the Ward Center. Makes for a nice relaxing time away. Now on to your update:

Copyright 6/21/2009 by Hawaii Information Service

NEW LISTINGS
224707 T A 6 4-5-4-12-2-16 FS $369,000 Hale Moi #116 1,033 #116 1/2
225090 T A 3 4-5-4-5-18-50 FS $390,000 Puamana #14B 1,532 #14B 2/2
225032 T A 5 4-5-4-5-30-19 FS $399,000 Princeville Mauna Kai #D301 1,488 #26 3/2
224986 T A 5 4-5-4-5-39-72 FS $439,000 Cliffs At Princeville #3204 917 #3204 1/2
204435 T S -36 4-5-4-12-10-41 FS $519,000 Emmalani Court #524 1,192 #524 2/2
SOLD 6/19/2009 for $380,000 (CASH) DOM -36

BACK ON THE MARKET
210902 T A 368 4-5-4-5-39-4 FS $275,000 Cliffs At Princeville #1104 917 #1104 1/2

CONTINGENT SALES
223314 T C 64 4-5-4-6-1-44 FS $678,999 Villas Of Kamalii #44 1,825 #44 3/3
SALES
220884 T S 68 4-5-3-11-1-27 FS $750,000 Villas On The Prince #27 1,732 #27 3/3
SOLD 6/16/2009 for $700,000 (CASH) DOM 68

222629 T S 24 4-5-4-12-10-22 FS $425,000 Emmalani Court #325 1,456 #325 2/2
SOLD 6/17/2009 for $390,000 (CNV) DOM 24

204435 T S -36 4-5-4-12-10-41 FS $519,000 Emmalani Court #524 1,192 #524 2/2
SOLD 6/19/2009 for $380,000 (CASH) DOM -36

UNDER CONTRACT
210999 T U 355 4-5-4-12-10-42 FS $499,000 Emmalani Court #525 1,456 #525 2/2

EXPIRED
209061 T X 429 4-5-4-12-2-6 FS $450,000 Hale Moi #106 1,033 #106 2/2
188728 T X 861 4-5-4-5-39-55 FS $569,000 Cliffs At Princeville #2305 1,137 #2305 2/2

PRICE CHANGES
210902 T A 368 4-5-4-5-39-4 FS $275,000- Cliffs At Princeville #1104 917 #1104 1/2
221360 T A 115 4-5-4-12-2-36 FS $345,000- Hale Moi #216 1,033 #216 2/2
186493 T A 968 4-5-4-5-17-55 FS $399,000- Alii Kai Ii Hanalei #14G 1,037 #14G 2/2
222635 T A 44 4-5-4-5-12-19 FS $399,999+ Sealodge Ii #H1 556 #H1 1/1
219219 T A 221 4-5-4-5-30-20 FS $494,500- Princeville Mauna Kai #D302 1,488 ##25 3/2
218310 T A 153 4-5-4-12-5-9 FS $812,000- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
223314 T C 64 4-5-4-6-1-44 FS $678,999- 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.

It's good to see some activity this past week with as many condos going into escrow and/or selling as there were new ones on the market. Usually it's a pretty lopsided effort with new condos coming on the market every week and very few sales to offset the growning inventory. Having said that, of the 5 new listings this week, all but one are either a short sale or foreclosure. Hale Moi 116, listed for $369K and purchased for $459K in 10/04 is a short sale. This unit was previously listed from 2/06 to 6/06, with a list price of $649K which reduced to $627K before it came off the market. It was listed a second time from 3/07 to 3/08, starting at $599K and reducing to $525K and again from 4/08 to 4/09 with a price of $499,500 which reduced to $419K before it was withdrawn. Hopefully it can sell prior to a foreclosure. Puamana 14B is a bank foreclosure listed at $390K. This unit sold for $625K in 3/06. Mauna Kai 26, purchased for $535K in 10/06 is back on the market as a short sale for $399K. This unit was previously listed from 4/08 to 4/09 starting at $619K and reducing to $525K when it came off the market.

Cliffs 3204 has the distinction of being the only new listing this week that is not in some type of financial distress. Listed at $439K and purchased for $380K in 1/08, this seller is fightng an uphill battle to capture a gain on the unit especially when competing with units priced at $260K and $2745K. Here are all the Cliffs unit currently on the market:

Copyright 6/21/2009 by Hawaii Information Service

204804 T A 374 4-5-4-5-39-33 FS $260,000 Cliffs At Princeville #2103 917 #2103 1/2
210902 T A 368 4-5-4-5-39-4 FS $275,000 Cliffs At Princeville #1104 917 #1104 1/2
207634 T A 486 4-5-4-5-39-16 FS $275,000 Cliffs At Princeville #1206 917 #1206 1/2
222233 T A 16 4-5-4-5-39-45 FS $275,000 Cliffs At Princeville #2205 917 #2205 1/2
224986 T A 5 4-5-4-5-39-72 FS $439,000 Cliffs At Princeville #3204 917 #3204 1/2
220368 T A 144 4-5-4-5-39-42 FS $495,000 Cliffs At Princeville #2202 917 #2202 1/2
208369 T A 472 4-5-4-5-39-127 FS $525,000 Cliffs At Princeville #5205 917 #5205 1/2
222323 T A 90 4-5-4-5-39-191 FS $685,000 Cliffs At Princeville #9201 963 #9201 1/2
224581 T A 10 4-5-4-5-39-186 LH $699,000 Cliffs At Princeville #8306 1,186 #8306 1/2
222351 T A 88 4-5-4-5-39-138 FS $750,000 Cliffs At Princeville #5308 1,186 #5308 2/2
183879 T A 1,025 4-5-4-5-39-163 FS $799,000 Cliffs At Princeville #7205 917 #7205 1/2
213606 T A 341 4-5-4-5-39-198 FS $875,000 Cliffs At Princeville #9302 1,231 #9-302 2/2
224660 T A 375 4-5-4-5-39-175 FS $995,000 Cliffs At Princeville #8201 963 #8201 1/2

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

Emmalani Court 524 was purchased for $700K in 7/07, listed for $519K as a short sale and closed for $380K. I don't know why this unit is showing up as a new listing with -36 days on the market. It actually came on the market back in 12/07 at $789K and just kept reducing over the years until it became a short sale with a sale price of $380K. You'll also see this unit listed under the sales portion of this report.

Cliffs 1104, purchased for $135K in 3/01 is back on the market after expiring while listed at $489K. It is now listed at $275K and will be seen again under the price changes portion of this report.

Villas of Kamalii 44 finally went into escrow as a foreclosure listed at $678,999. The price changed this week from $679K to $678,999 and is also under the price changes. This unit was listed at least 4 or 5 time before at an effort to sell but was always in the $800K to $900K price range. It sold for $739K in 5/05 and was taken by the bank in 6/09.

Several units closed this week, starting with Villas on the Prince 27 which was purchased for $525K in 12/03, was listed for $750K and sold for $700K. Yippee, someone sold for more than they paid! Emmalani Court 325 closed for $390K yielding it's seller no profit as it was purchased in 4/93 for $387K. The last sale is Emmalani Court 524 which was discussed under new listings.

It's obviously a good week for Emmalani Court - Unit 525 moved from contingent to under contract status which means all contingencies have been removed and it is set to close. We should see this unit, which was purchased for $400K in 1/03 closing within the next week or two.

Hale Moi 106, listed at $450K and purchased for $485K in 10/05 expired after 429 market days. It started out at $524K but was apparently always a step or two behind the market. Cliffs 2305, which last sold for $680K in 6/06 expired while listed at $569K after 861 days on the market. This unit started at $689,500 but never reduced enough over the years to be competative.

As for price changes, first up is Cliffs 1104 which was discussed under the Back on the Market portion of this update. Hale Moi 216, purchased for $460K in 3/05 reduced from $395K to $345K. Depsite the original purchase price, this is not a short sale or a bank REO and it presents a great opportunity to purchase a completely update condo without all the short sale hassle. Ali'i Kai 14G, purchased for $583K in 8/05 reduced from $449K to $399K. Sealodge H1 made a price adjustment possibly to reflect a more desirable number, going from $399K to $399,999. Maybe all those "9's" in the list price will bring in a buyer. This unit sold for $560K in 8/05. Mauna Kai 25 last sold for $585K in 8/07 and reduced this week from $524,500 to $494,500. Pali Ke Kua 109 is still reducing by $500 a day and is now at $812K. Villas of Kamali'i 44 was discussed under the Contingent Sales portion of this update.

Now on to your Princeville home update:

Copyright 6/21/2009 by Hawaii Information Service

NEW LISTINGS
225024 RS A 2 4-5-4-13-66 FS $1,350,000 3705 Albert Rd 10,586 sqft 2,010 4/3
225130 RS A 3 4-5-4-15-3 FS $1,395,000 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
225087 RS A 3 4-5-4-14-26 FS $1,625,000 3925 Kamehameha Rd 20,093 sqft 3,925 4/3.5

BACK ON THE MARKET
220531 RS A 134 4-5-4-13-44 FS $880,000 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2

CONTINGENT SALES
223822 RS C 48 4-5-4-13-6 FS $646,050 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
222745 RS C 82 4-5-4-23-35 FS $647,000 3793 Moae Pl 6,386 sqft 1,651 3/2

WITHDRAWN
215837 RS W 281 4-5-3-12-11 FS $1,595,000 3991 Aloalii Dr 7,827 sqft 3,389 3/2.5

PRICE CHANGES
203978 RS A 577 4-5-3-11-41 FS $975,000- 4120 Aloalii Dr 9,103 sqft 2,521 3/3.5
223366 RS A 65 4-5-4-15-1 FS $499,900- 3995 Kamehameha Rd 10,244 sqft 2,117 3/2
224336 RS A 30 4-5-4-23-38 FS $544,000- 3812 Iluna Pl 6,895 sqft 1,310 3/2
220531 RS A 134 4-5-4-13-44 FS $880,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2
206198 RS A 516 4-5-4-17-21 FS $1,095,000- 4914 Emmalani Dr 10,500 sqft 3,238 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.

That's it for now. I'm in Puhi house / cat sitting for friends this week and enjoying all that the Lihue area has to offer. Yesterday we took their kayak and put in at the Nawiliwili small boat harbor and went up to the end of the river then paddled around the Menehuene fish pond. Lots of fish jumping all over the place. Have a great week and don't forget to call or email for the facts 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,

Welcome to another fabulous week in Paradise. The visitors have had nothing to complain about these past few weeks as Kauai has had the kind of weather that makes people envious when they hear you live here. Our tradewinds are back and blowing full force, cooling everyone and everything. I've been out showing property most of this week and have enjoyed great weather no matter what part of the Island I was showing. I've seen just about every Princeville home on the market so if you have any questions, I've got answers. On to your update:

Copyright 6/14/2009 by Hawaii Information Service

NEW LISTINGS
224638 T A 4 4-5-3-6-22-76 FS $1,200,000 Kaiulani Of Princeville #76 1,738 #76 2/2.5
224825 T A 3 4-5-4-12-8-1 LH $359,000 Pali Ke Kua Ii #1 993 #1 2/2
224581 T A 3 4-5-4-5-39-186 LH $699,000 Cliffs At Princeville #8306 1,186 #8306 1/2

CONTINGENT SALES
221737 T C 96 4-5-4-12-8-21 FS $795,000 Pali Ke Kua Ii #228 1,135 #228 2/2

SALES
212736 T S 272 4-5-4-5-16-48 FS $945,500 Alii Kai At Hanalei #5304 1,085 #5304 2/2
SOLD 6/8/2009 for $850,000 (CASH) DOM 272

EXPIRED
209599 T X 350 4-5-4-15-21-31 FS $350,000 Sandpiper Village I #131 1,042 #131 2/2
194640 T X 708 4-5-4-12-9-27 FS $805,000 Pali Ke Kua Iii #237 1,135 #237 2/2

PRICE CHANGES
220078 T A 142 4-5-4-5-3-19 FS $239,000- Princeville Paniolo #204 1,058 #204 1/2
223363 T A 57 4-5-4-5-4-5 FS $270,000- Kaeo Kai Ph I #5A 1,503 #5A 2/2
222149 T A 94 4-5-4-5-18-1 FS $325,000- Puamana #1A 1,312 #1A 2/2
221962 T A 97 4-5-4-5-18-30 FS $399,900- Puamana #8C 1,532 #8C 2/2
218864 T A 186 4-5-4-5-23-11 FS $659,000- Plantation At Princeville #321 1,318 #321 3/3
218310 T A 146 4-5-4-12-5-9 FS $815,500- Pali Ke Kua Incr I, ii, iii #109A 717 #109A 1/1
212982 T A 348 4-5-4-5-16-28 FS $875,000- Alii Kai At Hanalei #4104 1,086 #4104 2/2
216008 T A 261 4-5-4-12-11-47 FS $1,500,000+ Puu Poa #405 1,800 #405 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.

It's been a pretty quiet week when it comes to condos with just a few new ones and some minimal activity. The first new listing is a resale Ka'iulani listed for $1.2M. This is the first time on the market for this unit which was purchased for $900,500 on 4/07. Next up is Pali Ke Kua 1, a leasehold unit purchased for $379K in 4/06 and listed for $359K. Cliffs 8306 is the last new listing, with a sale price of $699K and a purchase price of $430K in 11/03. This is also a leasehold unit.

Pali Ke Kua 228, listed for $795K and purchased as a leasehold unit in 5/93 for $165K went into escrow this week. It was converted to fee simple in 12/99 for $48,300. I'm happy to say this seller will probably have a good capital gain on this property. The seller of Ali'i Kai 5304 is also probably happy, having sold this unit for $850K this week. It was purchased for $135K in 1/87.

Both Sandpiper 131 and Pali Ke Kua 237 were withdrawn from the market. Sandpiper was listed for $350K and last sold for $110K in 4/10. Pali Ke Kua 237 was listed for $805K and last sold for $750K in 2/05.

We had several price reductions and one price increase this week. Paniolo 204 reduced from $259K to $239K and was purchased for $337,500 in 6/04. Ka'eo Kai 5A, a bank foreclosure, reduced from $299,900 to $270K. This condo last sold for $200K in 8/02. Puamana 1A get the reduction of the week award, going from $410K to $325K as a short sale. This unit last sold in 7/01 for $137K. Puamana 8C, purchased for $95K as a leasehold unit in 7/88 and converted to fee simple on 5/00 for $37,500 reduced from $416,900 to $399,800. Plantation 321 went from $699K to $659K and last sold for $435K in 7/05. Pali Ke Kua 109 continued to reduce by $500 a day and is now at $815,500. Ali'i Kai 4101, purchased for $950K in 8/05 reduced from $925K to $875K. Pu'u Po'a 405 is the only increase this week moving from $1.295K to $1.5M. This unit last sold for $430K in 1/00.

On to your Princeville home update:

Copyright 6/14/2009 by Hawaii Information Service

NEW LISTINGS
224881 RS A 2 4-5-3-12-1 FS $1,995,000 4055 Aloalii Dr 9,825 sqft 3,435 3/3.5
224775 RS A 3 4-5-3-12-4 FS $1,995,000 4035 Aloalii Dr 9,415 sqft 3,407 3/3
224805 RS A 6 4-5-4-23-46 FS $599,000 3785 Moae Pl 6,894 sqft 1,199 2/2
224854 RS A 2 4-5-4-19-19 FS $814,800 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
224783 RS A 6 4-5-4-13-37 FS $1,875,000 3584 Kaweonui Rd 14,685 sqft 3,500 4/3.5

CONTINGENT SALES
222919 RS C 72 4-5-4-17-2 FS $717,500 4959 Emmalani Dr 10,875 sqft 2,682 4/4.5

TEMPORARILY WITHDRAWN
220531 RS T 128 4-5-4-13-44 FS $949,000 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2

PRICE CHANGES
223822 RS A 41 4-5-4-13-6 FS $646,050- 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
214254 RS A 319 4-5-4-18-20 FS $995,000- 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.

If you have any questions about buying or selling, please don't hesitate to call or email for the facts. That's why I'm here. 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,

Welcome to your May Market Statistics for 2009. This past May there were a total of 37 sales compared to 48 in May 08. Year to date we are down 95 transactions, with 169 year to date 09 compared to 264 year to date May 08. Over the last few years, the most active May was 06 with 167 sales, followed by 151 in May 05.

Of the sales this past month, 15 were residential, 9 land and 13 were condos. 4 homes sold in the Koloa and Hanalei zones, with 3 in Lihue and 2 each in both the Waimea and Kawaihau zones. The Hanalei zone led the Island in condos sales this month with 7 transactions. As you know, the Hanalei zone goes from Kilauea to Ha'ena which includes Princeville, which has numerous condo complexes. The remaining condos were sold in the Koloa area (3) Lihue (1) and Kawaihau. (2) Of the land, 6 sales took place in the Koloa zone with 3 in Kawaihau zone.

Sales volume is also down from $37M in May 08 to $22M May 09. Year to date 08 we had sales volume of $229M compared to $106M year to date 09 which represents a 53% decrease. For May 2009 there were $13M in residential sales, $4M in land sales, and $5M in condos. May 07 posted $75M in sales volume, with $102M in May 06, $94M in May 05 and $68M in May 04. Year to date past year stats are $391M in 07, $557M in 06, $448M for year to date 05 and $334M year to date May 04.

The median sales price dropped this month for residential sales from $705K in May 08 to $600K in May 09. Here are the 15 sales that produced this median sales price. Remember, the median is the midpoint and not the average:

Copyright 6/8/2009 by Hawaii Information Service

MLS Number Location Sold Date Sold Price

210130 3521 Wailani Rd 5/29/2009 $335,000

212954 298 Hie St 5/15/2009 $398,000

216797 3929 Hunakai St 5/14/2009 $400,000

221192 3609 Ahi Rd 5/12/2009 $449,500

215742 4610 Alawai Rd 5/27/2009 $450,000

220253 4266 Kalaheo Dr 5/7/2009 $525,000

218263 4163 Kalani Pl 5/11/2009 $598,000

216354 2364-C Hulemalu Rd #1 5/6/2009 $600,000

215324 5345 Honoiki Rd 5/13/2009 $690,000

219445 2560 Apapane St 5/20/2009 $705,000

219605 5681 Kaapuni Rd 5/20/2009 $870,000

220435 3680-B Lolo Rd #2 5/12/2009 $885,000

219659 5517 Wailaau Rd 5/11/2009 $1,024,000

222037 3531 Anini Rd 5/4/2009 $1,250,000

223673 5486 Weke Rd 5/21/2009 $3,650,000

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

Here are the residential sales for May 2008 that show how the median sales price of $705K was
established:

Copyright 6/8/2009 by Hawaii Information Service

MLS Number Location Sold Date Sold Price

208217 5997 Kapahi Rd 5/16/2008 $360,000

205170 7743 Ulili Rd 5/23/2008 $405,000

204694 8220 Elepaio Rd #B 5/2/2008 $425,000

203743 3-3994 Kuhio Hwy 5/30/2008 $432,000

193229 5434 Kula Mauu St 5/6/2008 $435,000

211662 4043 Hoohana St 5/21/2008 $455,000

205902 376 Kaholalele Rd 5/2/2008 $465,000

202380 6171 Koolau #1 5/23/2008 $525,000

202383 6171 Koolau #2 5/23/2008 $525,000

211907 4372 Ulua St 5/29/2008 $650,000

204152 4620 Anolani St 5/20/2008 $705,000

210683 5008 Puuwai Rd 5/30/2008 $775,000

199128 5631 Ohelo Rd 5/13/2008 $775,000

207197 7771 Koolau Rd. #1 5/23/2008 $845,000

208282 5070 Kamamalu Loop 5/15/2008 $850,000

197612 4443 Kai Ikena Dr #2 5/28/2008 $860,000

197977 4892 Cr Kaui Rd/pepelani 5/15/2008 $905,000

190069 3660 Kakela Makai Dr 5/30/2008 $925,000

204795 4742 Aliomanu Rd 5/30/2008 $1,275,000

187278 Kalalea View Drive 5/21/2008 $1,800,000

210752 5494 Weke Rd 5/1/2008 $4,200,000

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

Land held pretty steady in May with 09 median sales price of $350K compared to a median sales price of $377,500 in May 08. Condos fell dramatically from a median of $610K in May 08 compared to $330K in May 09. Here are the sales that created the $610K median sales price:

Copyright 6/8/2009 by Hawaii Information Service

MLS Number Location Sold Date Sold Price

188223 Halelani Village At Puhi Ph I #C206 5/27/2008 $165,000

196332 Villas Of Kamalii #42 5/15/2008 $230,000

205071 Halelani Village At Puhi Ph Ic #X103 5/23/2008 $243,000

204941 Banyan Harbor #56 5/1/2008 $305,000

209885 Prince Kuhio #137 5/30/2008 $389,000

209158 Sandpiper Village I #216 5/2/2008 $391,000

207850 Makahuena #I302 5/28/2008 $533,975

208510 Regency Huleia #47 5/12/2008 $565,000

208232 Regency Huleia #70 5/2/2008 $589,000

211188 Puamana #14D 5/30/2008 $610,000

199987 Villas Of Kamalii #35 5/30/2008 $665,000

207174 Sealodge Ii #J6 5/14/2008 $695,000

151413 Kaiulani Of Princeville #58 5/19/2008 $876,400

209316 Nihi Kai Villas #521 5/9/2008 $895,000

152054 Kaiulani Of Princeville #62 5/30/2008 $989,390

209676 Hanalei Bay Resort #J22 5/30/2008 $1,000,000

152053 Kaiulani Of Princeville #60 5/30/2008 $1,075,990

205964 Puu Poa #105 5/14/2008 $1,475,000

152075 Kaiulani Of Princeville #5 5/2/2008 $1,765,990

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

Here are the stats for the 2009 May median sales price of $330K:

Copyright 6/8/2009 by Hawaii Information Service

MLS Number Location Sold Date Sold Price

220213 Islander On The Beach #142 5/29/2009 $95,000

220211 Islander On The Beach #143 5/29/2009 $95,000

206513 Sun Village-kauai #C404 5/18/2009 $180,000

217211 Cliffs At Princeville #2109 5/29/2009 $275,000

221838 Makahuena #IIC104 5/11/2009 $305,000

219814 Kalaheo Pali Kai #61 5/11/2009 $320,000

222630 Emmalani Court #323 5/22/2009 $330,000

221489 Alii Kai At Hanalei #2201 5/6/2009 $420,000

222621 Emmalani Court #225 5/15/2009 $440,000

222697 Villas On The Prince #3 5/15/2009 $576,900

223690 Nihilani At Princeville Resort #33C 5/8/2009 $640,000

221272 Nihilani At Princeville Resort #34C 5/14/2009 $650,000

223167 Kiahuna Ph I #27 5/22/2009 $725,000

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

Before you get all excited and think there are actually condos for sale on Kauai for $95K, I want you to know that these are hotel room conversions. In other words, you are buying a renovated hotel room with no kitchen and about 300+ square feet in a resort setting for that price. As for Sun Village at $180K, that is a leasehold development for those 55 and older only. For the complete May 2009 statistics, please click here to go to my website where they are posted. As always, I'm here for you with the facts. Just call or email.

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,

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!