Hawaii Real Estate News

Moving to Keauhou

One of Hawaii’s greatest cultural destinations, Keauhou is surrounded on the north coast by the beautiful Kahaluu Bay, and with Holualoa, the renowned coffee plantation, on the slopes of Mount Hualalai beyond. Keauhou is ideal for water sports such as snorkelling, scuba diving and kayaking with its perfect water temperatures throughout the year. Keauhou in ancient times was a favourite getaway of many a Hawaiian royalty that lead to its culturally rich heritage of heiau temples, ancient fishponds and a number of historically important sites. Keauhou also has a number of golf courses, spas and restaurants along with a thriving social community.

These factors make the place not only an ideal holidaying spot but also provide the ideal atmosphere to live in. Some information on various aspects of life in Keauhou has been outlined below.

Demographics

As of the 2011 CDP census, the population of Keauhou is about 25,132, registering a growth of about 47% from 2000. About 16.2% of the residents are below 18 years of age while the remaining 83.8% are above 18. There are 12,622 men and 12,510 women in Keauhou, constituting a balanced 50.2% and 49.8% of the populace. The estimated median household income is $65,189 and the median house/condo value is $530,858.

According to the census race data, the majority of the population consist of Caucasians, who constitute 60.1% of the entire populace. Asians comprise 9.9%, Islanders 8.2% and Hispanics 9% while the rest of the population consists of Blacks, Indians and others. There are 2,715 housing units in Keauhou, 53.6% of which are occupied.

Climate

Keauhou enjoys comfortably moderate temperatures throughout the year ranging from 18 to 23 degrees Celsius throughout the year. The average maximum temperature is 29.16 degrees Celsius while the average minimum temperature is 21 degrees Celsius. The highest temperatures are recorded in August while the lowest temperatures set in during the months of December and January.

The water temperatures range from about 24 degrees to 27 degrees Celsius, keeping them comfortably warm and enjoyable throughout the year. The total precipitation in Keauhou over the year is 11.13 inches which ranges from 0.46 to 1.86 inches per month with the highest rainfall in December and the lowest during the month of June.

Education

While many good schools and colleges are available in the adjacent Kailua-Kona, very few are found in Keauhou, two of which are the Hawaii Montessori School and the Makua Lani Christian High School. Both of these are private schools and have facilities for students from kindergarten to grade 12. 

The University of Hawaii in Hilo and the junior college, Hawaii Community College are both situated about 53 miles from Keauhou.

Employment

The labour force in Keauhou is 1,515 and the employment growth from 2000-2011 has been a modest 33.1%. About 32.93% of the working population has a Bachelors Degree or higher while 93.20% have a high school degree or higher. 

The unemployment rate in Keauhou is about 9.50%. The maximum working populace in Keauhou are employed by private companies which account for almost 80% of all jobs. State and government workers constitute the next highest subgroup while self-employed and private not-for-profit wage and salary workers are ranked next. 

Community Activities

The annual Earth and Ocean festival is popular among both locals and visitors. The festival showcases Hawaiian cultural practices with Hawaiian film presentations, performances by hula artists and other activities.

Real Estate in Keauhou

As of 2009, 2,311 households were registered in Keauhou, of which 1,869 were family households and 442 were non-family households. Group quarters amounted to 81 in number. The median household income in Keauhou is $69,307. 86.8% residents of Keauhou speak English at home, 3.7% speak Spanish while the others speak various Indo-European and Asian or Pacific Island languages. The foreign born population in Keauhou amounts to 244 or 10.2% of the population.

The median number of rooms in houses and condos in Keauhou is 5.1 while the median number of rooms in apartments is 3.4. Among owner occupied houses, 4-bedroom housing units are the most common, amounting to 162 while 5-bedroom units stand at 147 followed by 6-bedrooms at 113. In renter-occupied apartments, 3-bedroom apartments seem the most popular, amounting to 89 while 4-bedroom and 5-bedroom houses come next, being 62 and 65 in number.

According to the year in which housing units were built, the median house/condo value is highest for houses built after 2005 amounting to almost a million dollars in 2009, though prices fell in 2011. The next highest value is for units built in 1990 to 1999 followed closely by the ones built from 2000 to 2004.

Keauhou Real Estate Prices Over The Years

The real estate in Keauhou, as is the case of other Hawaiian towns, was at its peak during the construction boom in 2006 and has fallen sharply due to the global financial crisis. The real estate was at its peak during Q1 of 2009 with the median house or condo value standing at $693,564 and with the maximum number of houses sold that year. Here the mean value of single detached houses was $520,210; whereas townhouses were sold for $490,351. The prices of 2 unit, 3 unit and 5 unit structures varied between $48,000 and $589,000.

Q2 and Q3 were the peak periods of real estate of the island but by the end of 2009, with the dawn of global financial crisis the real estate prices fell sharply to about $310,000. The maximum numbers of housing units in the past few years were also sold during the end of 2009 amounting to almost 230 homes.

The real estate prices in Q1 of 2010 of a home stood at $290,000 compared to the peak value of $690,000 in 2009. 2010 also saw the sale of a great number of homes in Keauhou with the number maxing in the third quarter at 345 homes. Prices continued to decline while the number of units sold increased. However, a slow improvement was seen during Q2 and Q3 with prices in Q2 peaking at $350,000, though by end of Q4 prices again fell to $300,000.

The first quarter of 2011 saw some hope with real estate prices rising to a tentative $325,000 but eventually falling to $300,000 in Q2 when the maximum number of households of the year was sold, amounting to 300. The third quarter again saw a slight decline in the median price. The number of houses sold during this period however, fell drastically to around 100 despite the lowest prices recorded in the past few years.

Why you would want to live in Waimea

Waimea is a quaint, peaceful town in Kauai County, in the state of Hawaii. Not only is it a popular place for tourists and hikers, it is also a wonderful place for people to settle down in after retirement. It provides a calm and soothing atmosphere, amidst the scenic beauty that the town provides. It provides all the comforts and laid back lifestyle that you would expect from a Hawaiian town, while maintaining the bustling activity and vibrancy of a popular tourist spot. It is also in close proximity to a number of towns, making it both accessible and connected. All in all, Waimea is a great place to move to and to live in.

Climate

The weather in Waimea is the same as almost every other Hawaiian town. It is sunny and pleasant almost throughout the year, and there aren’t great many fluctuations in the climatic conditions. The town experiences sufficient amount of rainfall, enough to prevent any water shortages or water problems. February experiences the highest amount of rainfall. The average precipitation during this month is 9.69 inches. December also experiences a high amount of rainfall, with an average precipitation of 8.06 inches. August has the least amount of rainfall, and the average precipitation is as low as 0.03 inches. The average minimum temperature in January is 34.6 F, and the average minimum temperature in July is 51.2 F. Waimea very rarely experiences any hurricanes or cyclones and one can enjoy summer outdoor activities throughout the year. In terms of weather, Waimea is an ideal place to live in.

Real estate

Rentals – There are a great number of single family homes and condominiums available for rent in Waimea. Realtors and real estate agents can be contacted for this purpose. If you’re looking to move to Waimea for a short period of time, it is recommended that you take up a place for rent. In general, one year leases are signed. To get an idea of the rent amounts, talking to people in the neighbourhood is recommended.

Property – If you’re looking to move to Waimea for a long period of time, buying a property is the smarter option, as rents come up to as much as mortgage interest rates. Also, it is an ideal time to invest in real estate in Waimea as the median sales prices and numbers of sales are expected to go up in the future. Again, it is important to talk to people and check prices online.

People

The people form a well-knit community. Their racial make-up is diverse, with Asians making up almost 43% of the population. Waimea is a perfect example of unity in diversity. The residents embrace and celebrate every culture. They are extremely hospitable and friendly. It should not be a problem fitting into such a wonderful community.

Education

Waimea High School provides quality education. There aren’t many other schools or universities in the quiet town. However, due to its close proximity to cities, education is not completely out of reach.

Lifestyle

The people of Waimea lead a fairly peaceful life. They have a high standard of living, and enjoy the quiet and beauty of this town. The crime rates are fairly low and the facilities are adequate.

Economy

Waimea is small and most of the town’s revenue comes from tourism. The median income for a family is $46,591 and the per capita income is $18,778. The people lead a fairly comfortable life.

Vacation destinations Waimea

The famous author Mark Twain called Waimea the ‘Grand Canyon of the Pacific’. The Canyon, which is over three thousand feet down and ten miles long, is a deep crevasse. Over four million years ago, when the island collapsed from the Kauai volcano, the canyon was formed due to erosion. Apart from its geological beauty and significance, Waimea offers something for every kind of tourist and every member of the family. You can never fall short of things to do in Waimea.

Adventure sports 

Outfitters Kauai – This popular adventure package includes fun-filled activities such as kayaking, biking, hiking, zip line and stand up paddle board tours. Whether it’s kayaking on the still water of a calm jungle stream, hiking to the waterfalls or cruising from the rim of the Waimea Canyon to the ocean shore, this package is guaranteed to be an experience of a lifetime. 

Captain Na Pali Adventures Inc – This wonderful tour covers almost every type of outdoor adventure sport and activity. You can explore sea caves, visit waterfalls and remote beaches, snorkel, and swim amongst dolphins, whales and turtles. There is also a zodiac boat ride, which completes what is assured to be a wonderful experience.

Canyon Trail – This hiking trail is moderately strenuous but is worth every effort. The final view of the valley is breath-taking in its beauty. Crossing over the top of the waterfalls gives gorgeous views of the town.

Places to visit

Waimea Canyon – This world famous canyon annually attracts tourists from every part of the world. No vacation in Waimea is complete without a hike in this great canyon. This breath taking sister to the Grand Canyon provides great views and good hikes. The drive to the Canyon is lengthy but very pleasant, allowing you to truly enjoy the scenic beauty of the Pacific. The lookouts in the park are also very good, and worth stopping at.

Polihale State Park – This historical state beach park has breath taking views and a wonderful landscape. This beach is truly peaceful and is a wonderful place to spend a lazy Sunday afternoon. It isn’t too crowded, and lets you have a truly calm experience of the Pacific waters.

Russian Fort Elisabeth – This is strictly only for history lovers. It is on the way to Waimea Canyon, and if you’re looking to experience a slice of Hawaiian history, then you should stop over at this Fort. You can observe the Forbidden Island from the Fort. For adventure seekers, this Fort does not have much to offer.

Waimea Theatre – This is a historic and beautiful theatre that must be a part of every tourist’s itinerary. Nightly movies are screened Wednesday through Sunday. A trip to this theatre is like a trip in a time capsule. This is truly a lovely old movie theatre.

Restaurants and shopping

There are a great number of restaurants in Waimea that specialise in authentic Hawaiian cuisine. Restaurants such as Island Taco and Shrimp Station provide wonderful seafood at affordable prices. Wrangler’s Steakhouse provides wonderful Polynesian food, suited for the entire family. There are a large number of shopping centres littered in various parts of the town. Along the beach fronts, you will find stalls that sell local Hawaiian handicrafts and souvenirs. 

Why you may want to consider Waimea real estate

Waimea is a beautiful town, belonging to the Kauai County in the state of Hawaii. It is also a popular tourist spot and a retreat for people who want to escape from busy fast-paced life that cities generally offer. There are currently 676 housing units in this small town. Expansion in the Waimea real estate sector is expected. This makes the town an ideal place for investment in the real estate market.

Market trends

Waimea has been one of the few towns which have survived the economic and financial crisis that has enveloped the world. Despite the real estate bubble which burst in 2009 in the United States of America, over the past five years, the median sales price for homes and condominiums has increased substantially over the past five years, registering a growth of 7.4%; a testament to the high quality real estate available in the town.

However, in 2011, compared to the third quarter, the fourth quarter has experienced a decline of 30.7%. This is a value that amounts to $195,000, and the median sales price for homes and condominiums now stands at $440,000. Compared to the previous year, there has been no increase in the median sales prices of homes. The average listing price has decreased, albeit by a small amount of 0.1%. It now stands at $862,741. In comparison to the previous week, however, it represents an increase of 2.1%, amounting to $17,942. The number of listings, unfortunately, has declined. This is perhaps one of the reasons why the average listing price has also decreased. However, lower sales are expected in this quarter of the year. There has been almost no change in the average listing price and the median sales price of the average price per square foot in comparison to the previous year. The average price per square foot is now $246.

This standstill in the real estate market in Waimea over the past year is expected to change. As the stock market’s volatile condition hasn’t improved, investors are looking at alternative markets to make their investments with guaranteed returns but little amount of risk. The real estate market in Waimea is hence expected to expand and grow, and offers a bright future for investors, with assured long term returns on investment.

Mortgage rates

Waimea is home to a number of mortgage brokers, lenders and banks that offer loans at varying interest rates. The annual percentage rate in general depends on the total loan amount, the number of years of expected interest payment and the type of loan taken. The annual percentage rates vary from 3% to 5% depending on whether the loans are 15 year, 30 year or 40 year fixed type. Waimea has experienced an increase in the annual percentage rates, which is expected as this is the quarter where the real estate market in general experiences a slight decline in sales.

Community

Waimea has a well-knit community, despite the intense diversity in the racial makeup of the people. They enjoy a comfortable life, with very low crime rates.

Relocating to Princeville

Princeville is a census designated town, located along the northern shore of the island of Kauai. It belongs to the Kauai County in the state of Hawaii. With a population of almost 1700, this quiet and peaceful town has over the years attracted seekers of a calm and gentle lifestyle. It is a retreat for a great number of retired people. It satisfies the basic needs of all its residents, while still maintaining its status as a popular tourist spot. It is well connected to other towns in Hawaii and is very accessible. It is indeed a wonderful place to move to and to live in.

Climate

As in seen in every other Hawaiian coastal town, Princeville has a climate that is sunny yet pleasant almost throughout the year. Princeville does not experience any extreme climatic conditions such as hurricanes, cyclones or torrential rains. Its climate is good enough to enjoy outdoor activities almost throughout the year. In short, it has a moderate climate almost throughout the year.

The precipitation is enough to prevent any water problems or water shortages. In January, the average temperature is 42.6F while in July it is 59.3F. There is not much of a temperature difference between the day and night during summers or winters. The average annual precipitation is 31.90 inches. February experiences the most amount of rainfall, of almost 10 inches. December also experiences a good amount of precipitation of more than 8 inches. August is the driest month, with an average precipitation of 0.03 inches. In terms of weather, Princeville is an ideal place to move to and to live in.

Real estate

Rentals – Although Princeville is a small town, it is not short of homes or condominiums available on rent. In general, apartments are rented out on one-year leases. The rent amount varies depending on where the house is located, its size and on whether it is furnished or not. Beach-facing houses are in general more expensive. It is a good idea to do a survey of the neighbourhood you are looking to live in, before signing the lease. If you are moving to Princeville for a short period of time, it is quite obviously recommended that you take up a house on rent.

Property – Princeville real estate has undergone a steady decline. The median sales prices are at an all-time low. There has been a decline of almost 50% in the median sales prices over the past 5 years. Hence, if you’re looking to move to Princeville and reside for a long period of time, it is recommended that you purchase your own single family home or condominium instead of living on rent. The sales prices are affordable, and now would be an ideal time for a purchase.

People

The people of Princeville form a close and well-knit community. Despite the diverse racial makeup, they lead peaceful lives. The residents are extremely hospitable, friendly and accommodative. They embrace and celebrate every culture present in this small town. New residents would thus find no difficulty in fitting in and being a part of this community of wonderful people.

Education

Education is not Princeville strong point. There aren’t a great number of schools providing quality education. Residents generally turn to cities for schooling.

Lifestyle

Residents of Princeville lead fairly comfortable and hassle free lives. The crimes rates are low and amenities are adequate. The residents live in a peaceful environment and the crime rates are fairly low.

Economy

Princeville’s main source of revenue is tourism. The per capita income is still as high as $37,971. The citizens maintain a high standard of living. 

Vacation rentals in Princeville

Princeville is located on the north shore of Kauai County in the state of Hawaii. It is a popular tourist spot, known for its well-maintained landscape and serene environment. It has a total land area of 2.1 square miles. There are a total of 1,640 housing units currently in the town. The most attractive feature of the town is its golf courses and landscapes, and tourism is the main industry. The most investor-friendly properties are therefore resorts, which attract thousands of tourists. However, expansion is expected in the real estate sector.

Market trends

Real estate in Princeville, over the past five years has gone through a roller coaster ride. After temporarily reaching an all-time high in median sales price in 2008, the median sales prices have been experiencing a decline ever since. The median sales price for homes and condominiums is now $385,000. This is a decline of 15.5%, which amounts to a total value of $70,490, in comparison to the previous quarter. In comparison to the previous year, the median sales prices for homes and condominiums have depreciated by over 24%. Over the past five years, there has been a decline of almost 49% in the median sales price.

Despite the real estate crisis that all states across USA experienced, the real estate market in the country began regaining its composure at the start of this year. Princeville, however, has experience no such ray of hope. The average number of sales has also been fluctuating, but hasn’t given enough reason for the market to attract investors. The average listing price is now $849,763, which represents a depreciation of 3.2% in comparison to the previous year.

The number of listings, however, has gone up. This might prove to be an advantage for the real estate market, as long as the number of sales increases accordingly. There has also been a decrease in the average price per square foot, which is now $291. This is a decline of almost 9% in comparison to the previous year. Although there is no real reason for investors to look at real estate in Princeville as a good investment option, it is expected that the real estate market will make a comeback. With the world wide prevalent economic and financial crisis, and the growing volatility of the stock market, real estate markets such as those in Princeville might also be a good investment option with expected long term returns on investment.

Mortgage rates

There are a great number of lenders, bankers and mortgage brokers in the town of Princeville. They offer loans for varying interest rates. The annual percentage rates in general depend on the number of years of expected interest payment, the principal amount of loan, and the type of loan preferred. Mortgage rates currently range from 3 to 5% depending on whether the loans are 15 year, 30 year or 40 year, fixed type. There has however, been a slight increase in the mortgage rates. This is understandable, given the decrease in sales and the falling average median sales prices.

Realtors and brokers

There are a large number of real estate agents and brokers which help sellers find buyers, and vice versa. They charge a small percentage of the sales price as commission to the seller. They generally hold open houses, which are highly recommended. It is important to do a survey of the neighbourhood to get an idea of the prices of properties in the locality.

Community

People in Princeville come from diverse racial backgrounds. They form a well-knit community, and experience a high standard of living with low crime rates.

Must do and see places in Princeville

Princeville is a wonderful coastal town, located along the northern shore of the island of Kauai. It is an excellent tourist spot, annually attracting visitors and tourists from all across the world. Being a coastal town, there is never a moment of boredom in this peaceful town. Whether it is the wonderful golf courses, the world renowned Princeville Ranch, or the beautiful beaches, this town makes for an ideal place for a vacation. There is something to do for every member of the family, and you will never fall short of things to do.

Adventure sports

Like any other coastal town in Hawaii, adventure sports are one of the main attractions for tourists. Even residents engage in a number of adrenaline charged outdoor sports and activities.

Kayaking – For the calm adventure seekers, however ironical that might sound, kayaking is the ideal outdoor activity. Princeville has wonderful streams to go kayaking in, and take in the beauty of this town.

Surfing – Although Princeville’s Beaches aren’t particularly popular for surfing, they provide an excellent opportunity for beginners to better their skills. There are a number of trained professionals who take classes particularly for tourists.

Snorkelling – Princeville has a number of wonderful snorkelling spots that let you experience a slice of the wonderful aquatic life. Equipment can be rented at nominal rates and guides can also be hired.

Scuba diving – No trip to a Hawaiian coastal town is complete without scuba diving and swimming amongst aquatic life forms. Scuba diving gear can be rented from one of the many shops on the beach front.

Sailing – Island sails is a wonderful trip where you get to sail through the Hawaiian waters. This tour is complete with a wonderful guide, who gives you authentic information about Hawaii’s rich culture, traditions and history. With the beauty of the Hawaiian waters, and breath-taking landscapes, this tour is indeed guaranteed to be a once in a lifetime experience.

Places to visit

Ahonui Botanical Gardens – These botanical gardens are home to native Hawaiian flora and rare wild flowers. The tours are a wonderful experience as the tour guides have in depth knowledge about the different species and the history of the town. They also have excellent communication skills and do a great job of explaining the various varieties of flowers found in the gardens.

Queen’s Bath – This tide pool, which is about the size of a swimming pool is located below cliffs, along the rocky shoreline. Although there might be an amount of danger that is involved, this makes for a truly amazing experience.

Princeville Ranch – Spread over 2500 acres, this ranch also hosts an 8-cable zip-line course, hiking, recreation centre, and kayaking. This Ranch is world famous for its quality and hospitality.

Napali Coast – This is indeed a wonderful place that must be at the top of every tourist’s itinerary. The views are truly breath taking, and let you experience the renowned Hawaiian natural beauty.

Makai Golf Course – This 18-hole golf course, located all across the Princeville Resort, is famous for its sweeping ocean views and tropical setting. It is affordable and the quality of service is excellent.

Restaurants and shopping

There are a number of restaurants and hotels in Princeville that specialise in local cuisines and seafood. No Hawaiian vacation is complete without trying out authentic local cuisine. Restaurants such as The Tavern and Infigo’s serve excellent seafood at affordable rates. There are also a number of small shops along the beach front that sell authentic Hawaiian handicrafts and souvenirs. 

Things to do in Poipu

Poipu is a beautiful coastal town, located along the southern shore of the island of Kauai. It is a census designated place, belonging to the Kauai County. It is an extremely popular tourist spot, attracting visitors from all across the globe. It is home to a number of beautiful resorts and high end hotels. It also has one main shopping centre, which is a haven for all shopaholics. Poipu is an ideal place for a vacation. Whether you’re looking to have a relaxed weekend at the beach, or engage in adrenaline-charged water sports, there is something to do for everyone in the family, throughout the year.

Adventure sports

Kayaking – Poipu is home to a number of calm jungle streams that are ideal for kayaking. The gear can be rented at nominal rates. Professional guides are also available on request.

Snorkelling – As with any coastal town in Hawaii, snorkelling is a popular and common outdoor activity. Poipu in particular has a number of beautiful snorkelling spots that are ideal for both beginners and experienced persons alike. There are a number of companies that offer snorkel tours, complete with expert guides and excellent equipment. Although these might be a little expensive, they are worth every penny. The guides also explain about the various aquatic life forms present in the waters around Poipu.

Scuba diving – For the more experienced swimmers, Poipu is a real treat. Scuba diving spots are littered throughout this coastal town, with equipment available at low prices.

Surfing – Poipu’s beaches are ideal for beginner surfers. There are also a number of surfing schools that have expert trainers and teach interested tourists the basics of surfing.

Hiking and biking – There are a number of tours and packages where hikes and bike rides are planned out, covering beautiful canyons and amazing landscapes.

Places to visit

Poipu Beach Park – This beach park is ideal for older and younger children alike. The beach is protected and safe. It is an ideal place for swimming and has a couple of wonderful snorkelling and scuba diving spots. All in all, it is an excellent family beach.

McBryde Garden – This botanical garden is a treat for every flower lover. It hosts the rarest of native Hawaiian flora. Its beauty is profound and this garden is part of the not for profit National Tropical Botanical Garden.

Spouting Horn – This geological formation is mainly visited to observe the water which forces its way through a lava tube. This produces a hissing sound and a plume of spray. Ensure that you don’t visit this place on a calm day, as the purpose would then be lost.

Kiahuna Golf Club – This affordable golf club provides a golf course with wonderful scenery and excellent landscapes. Although the course is not particularly great, the views are spectacular.

Shipwrecks Beach – This beautiful beach provides a spectacular view and is an ideal place to surf. For cliff divers and experienced swimmers, this is the ideal beach. However, it is not recommended that novices swim here. It is also a wonderful place to watch the sun set.

Restaurants and shopping

There are a number of wonderful restaurants in Poipu that specialise in local cuisines. Red Salt is one such restaurant that provides excellent food amidst a wonderful atmosphere. Josselin’s Tapas Bar and Grill also specialises in local cuisine and seafood. Poipu Shopping Village is world famous for its malls and excellent exhibitions of local artwork. The Polynesian Dance Show that happens at this centre must not be missed. It is an excellent place to buy souvenirs and local handicrafts.

Real Estate in Poipu

Poipu is a popular tourist spot in the southern shore of Kauai County, in the state of Hawaii. It has a number of resorts and high-end hotels, which are of great value in the real estate market. It also has one main shopping centre. There is a total of 2.5 square miles as land area in Poipu. There are a total of 1,969 housing units spread throughout the town. Since tourism is the main industry, housing real estate is the one which is the least attractive. Real estate in Poipu, however, is all set to expand and grow.

Market trends

Poipu has perhaps been one of the towns worst hit by the real estate crisis that USA recently experienced. It has also not been able to re-establish its stance as a front runner in the real estate industry. Over the past five years, the Poipu real estate market has experienced an unfortunate downfall. The process of recovery has been slow, almost to the point of being negligible. The median sales price for homes and condominiums now stands at almost $400,000. In comparison to the previous quarter, this represents a decline of almost 16%. In comparison to the previous year, the median sales price for homes and condominiums has decreased by almost 25%. Over the past five years, there has been a decline of almost 50% in the median sales prices.

This is particularly unfortunate, considering that Poipu is an extremely popular tourist spot, attracting tourists from all across the globe. The number of sales has also decreased, after going through periods of stagnation. The average listing price is now about $850,000. This represents a decline of more than 3% in comparison to the previous week. In comparison to the previous month, this represents a decline of 2.5%.

The average number of listings has, however, increased. This is indeed a ray of hope for the real estate market in Poipu, as long as an appropriate increase is experienced in the number of sales. There has also been a decrease in the average price per square foot. It now stands at almost $300 per square foot. This is a decline of almost 9% in comparison to the previous year. Real estate in Poipu has given any investor little reason to look at it as a safe and reliable place to invest, with guaranteed returns in the future. It is recommended that you wait for a few more months, to observe the market trends, before investing.

Mortgage rates

There are a number of reliable and registered mortgage brokers, lenders and banks in Poipu that give real estate loans at varying interest rates. The annual percentage rate varies depending on the principal amount of the loan, the number of years of expected interest payment and the type of loan that is preferred. The mortgage rates currently vary from 3% to 5% depending on whether the loans are 15 year, 30 year or 40 year fixed type. The mortgage rates have increased. This is however, expected as the median sales price has gone down and the number of sales have not substantially increased.

Realtors and brokers

There are a great number of real estate agents and brokers in Poipu who provide information about homes for sales and their prices. Open houses are highly recommended.

Community

Poipu has a close-knit community, with people from different backgrounds making up the population. They lead comfortable lives. The crime rates are fairly low.