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Old 04-29-2017, 01:32 PM
 
Location: Oceanside, CA
1,703 posts, read 810,452 times
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Just got back from a week on Kauai. I couldn't help but notice that you can't walk ten feet without running into more For Sale signs. What gives?
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Old 04-29-2017, 04:55 PM
 
Location: Moku Nui, Hawaii
9,301 posts, read 17,909,090 times
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Price of housing is up so more folks are selling. I think prices have finally reached more than what they were before the big housing price crash from 2005. Folks that bought in 2005 and haven't able to sell at what they paid but are now able to sell and move if they have been wanting to. At least, that's what it seems like on our island, but we're at the other end of the island chain.
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Old 04-30-2017, 01:50 AM
 
941 posts, read 1,574,013 times
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Flippers, speculators, and realtors, but I repeat myself.
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Old 05-23-2017, 12:12 PM
 
Location: Kilauea, Hawaii
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I think there are a lot of signs for sale but not much is actually selling....I live up in Wailua for the past 5 years and the same homes with signs are still not sold.
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Old 02-18-2018, 09:14 AM
 
53 posts, read 60,349 times
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Good question....

Any update now that it's almost a year later?
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Old 02-19-2018, 04:20 PM
 
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As of Feb 2018, the market is still hot for any property under one million. Over a million it is still good but takes longer to sell.

IMO: the reality is many rich people come to Kauai, fall in love with it and buy second homes. Some actually move out and then sell within/around a year since vacationing in Kauai and living in Kauai are two different things. The cannot get into the slower and less materialistic lifestyle.
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Old 02-19-2018, 05:35 PM
 
Location: Kailua
8,838 posts, read 11,471,018 times
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Quote:
Originally Posted by KauaiPono View Post

IMO: the reality is many rich people come to Kauai, fall in love with it and buy second homes.
Specifically, roughly 25% of the housing on Kauai is from out of state buyers, mostly for vacation rentals. Kauai lags only Maui, which is nearly 30% of the owners are out of state buyers.

Oahu is roughly 8% - Big Island roughly 20%.

If one doesn't think the vacation rental market doesn't have a big impact then they would be wrong.

Lastly, one doesn't have to be "rich" to buy these second homes - decent credit and your ability to show income from the property lowers lending standards considerably.
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Old 02-22-2018, 11:50 PM
 
941 posts, read 1,574,013 times
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I've noticed a lot for sale again recently as well. My slightly more nuanced theory is that it's the houses along the main roads that are for sale in higher proportion because they are noisy and less desireable. That makes them slightly cheaper and thus initially appealing, but when the new owners, possibly mainland transplant, realize there is much better around, they resell. Thus lots of turnover and perpetually for sale (I've seen some sell 2 or 3 times in my 10 years), and also very visible along the main roads.
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Old 03-01-2018, 01:05 AM
 
Location: Kilauea, Hawaii
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I have been watching real estate in the Wailua area for a few years now. 4 years ago it seemed like everything was for sale and no one was buying, there was some really good deal to be had. Now mostly you see things on the market for 200-400 days because they are so overpriced no one is buying. The last 6 month you now see less and less available under a million. But a house just sold last week for $560K that was bought for $385K just 2 years ago. I think people are seeing that there are some stupid buyers now driving up the cost and going to try and cash in....
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Old 06-10-2018, 04:57 PM
 
370 posts, read 203,617 times
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Quote:
Originally Posted by bresdo View Post
I have been watching real estate in the Wailua area for a few years now. 4 years ago it seemed like everything was for sale and no one was buying, there was some really good deal to be had. Now mostly you see things on the market for 200-400 days because they are so overpriced no one is buying. The last 6 month you now see less and less available under a million. But a house just sold last week for $560K that was bought for $385K just 2 years ago. I think people are seeing that there are some stupid buyers now driving up the cost and going to try and cash in....


Your not kidding. Property values are astronomical, but doesn’t seem as bad as Maui. To get anything under $400K in Kauai needs serious TLC. If you can do much of the work yourself, that could put some serious equity into that home.
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