$129 Million Kauai Real Estate sold

01 Mar $129 Million Kauai Real Estate sold

Real Estate Market Improves in 2012

The market here on Kauai has really picked up.  Over $129,712,000 sold since January 1, 2012!!!  This is amazing and the activity in sales is continuing.  Kiahuna Plantation has 3 units in escrow and Kukuiula has put 3 of the Kukuiula Club Cottages and the Cottage Model under contract.   The units priced at the lower end are going fast but there have also been high end purchases.   Buyers and Seller alike are being much more realistic and sales are coming together at a good steady rate.  I am sure there are many of us that think this is long overdue.

New Driver License Requirements

Starting March 5, it is going to much more involved to get a driver’s license in Hawaii.  There are long lines at all DMV offices to get a new license before the new requirements are implemented.  Under the new rules, people have to prove they are legally allowed to be in Hawaii — with a birth certificate, passport or W2 form showing a social security number. Additional documents will be needed if people weren’t born in the US or if their names have changed.

Non-Hawaii Owners on Vacation Rentals in Uproar

Owners of vacation rental properties in Hawaii are rallying support to defeat several bills they say would add thousands of dollars a year to the cost of renting out their places. Internet sites including Facebook have been lighting up in recent days as more property owners are learning of the debate as the bills move through the legislative process.  Three bills pending before the Hawaii Legislature would require owners of vacation rentals who live on different islands or out of state to retain local management of the units. Owner says that this would increase their  costs and make renting their units less profitable.  The bills address taxes they say are not being paid to Hawaii by owners doing their own rental.  Need to keep following these bills.