Poipu has sunshine for the majority of year

 Hawaii Real Estate  Comments Off
Mar 222012
 

Poipu is located on the South Shore of Kauai near Koloa and Kaheo.  It is a resort area that has also been named America’s best beach by the Travel Channel.  The population is just over 1,000, and most of the residents are actively involved in the tourism industry that the town offers.  This area is also home to some of the best dining, entertainment, and arts on the whole island of Kauai.  Residents of Poipu have many options of luxury resorts and shopping centers for employment.  The average income for residents is $51,000.

Poipu has sunshine for the majority of year that helps to draw people to this area for vacations as well as the beaches that surround the area.  The different beaches have different appeals for people.  Baby Beach is suited for families especially those with young children.  Lawai Beach usually attracts more surfers because of the water breaks, and Mahaulepu and Brennecke’s Beaches are usually where locals go to swim and sunbathe.

Condominiums are more prevalent in Poipu than single-family homes because of the immense tourist industry.   Several of the neighborhoods are near either the water on one of the championship golf courses.

One of the most popular resorts in Poipu is Poipu Kai that is made up of several smaller communities.  There are many condo styles available here, and it has a great rental history.  The communities Kiahuna, Poipu Sands, and Kahala at Poipu Kai have condos starting at $150,000 for studios and $250,000 for one-bedrooms.  Some of the communities in Poipu will typically have a starting price of $1 million.  Some of the more exuberant neighborhoods include Pane Makai, Whalers Cove at Poipu, and Koloa Landing at Poipu Beach.

Single-family home neighborhoods are also available in Poipu.  Poipu Kai Resort has cottages just under $500,000, and most other homes start at $600,000.  Bayview at Poipu Kai has homes available at prices between $650,000 and $2 million.  The communities of Lanai Villas, Wainani at Poipu, and Kiahuna Golf Village have homes priced at $1 million and up.

The recession did affect the real estate in Poipu, but as of late it has been making a comeback.  The average price of a home here is $399,000 at the moment making it a prime time to invest in real estate.  Investors purchasing condos for rental property have been known to do well considering the amount of people that come to the area for visits.

 Posted by at 2:01 am

Big Island Real Estate Market

 Hawaii Real Estate  Comments Off
Mar 182010
 
Topographic Map in english of the island of Ha...
Image via Wikipedia

The island of Hawaii, also commonly referred to simply as the Big Island, has, like the other Hawaiian islands, seen a continuously struggling housing market throughout most of 2009. The effects of the financial crisis have caused the prices of Big Island homes for sale to fall, bringing about dual effects. For those looking to sell homes or other properties, this is obviously unfortunate, but for those who have always wanted to buy Big Island real estate but were previously just unable to afford the high values, the dipping prices have encouraged action now while the opportunity awaits.

In the last quarter of 2009, sales activity on the island was actually the lowest of the four quarters of the year. Probably a lot of the heavy activity in the third quarter can be attributed to those rushing to get in on the government’s stimulus program offering up to thousands of dollars in rebates for buying new homes, which was set to expire in November but later was extended. There were just under 1,000 sales in the fourth quarter.

The median price of homes actually began to show a rising trend in the fourth quarter after two consecutive quarters of decline, and was at around $275,000, well off the peaks in 2007 of more than $350,000. In the month of December, the median price on the big island for a home sold was $278,800. Median prices were lowest in Puna in December, at just $175,000, and higher in areas like North Kona, where it was $425,000.

More recently, in February of this year, there were 94 home sales on the Big Island, according to the Star Bulletin, a rise of about 8% year-over-year. Condo sales were up 200% from a year earlier, with 39 changing hands. But prices were still struggling, which many experts attribute to the ongoing batch of foreclosures. The median price for a single-family home was $237,000, down almost 20% from a year earlier, while condos saw a median price of $266,175, down nearly 40% from February 2009′s price of $435,000. Some experts say these prices put the market back to levels not seen since 2003 and 2004.

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