kauai-realestateonline.com

A small beachfront resort community near the southern edge of the island of Kauai, Poipu, Hawaii, has seen its real estate market rocked by the financial crisis that the U.S. currently finds itself in. The islands, as home to some of America’s highest-priced and most coveted real estate, were ripe for the taking when the recession took effect and began crushing the market.

Though many things have improved, particularly sales volume with the government’s stimulus program of offering homebuyers tax credits worth up to several thousand dollars for buying a home, the Poipu real estate still shows mixed signals about its future direction.

According to statistics from the Kauai MLS, at the end of 2009, there were nine sales of units in Koloa, of which Poipu is considered a part of, in December. This was a great increase from the end of 2008, when December accounted for just a single sale. For the entire year of 2009, there were 66 sales, putting volume in the area up from 2008, when there were just 55 sales, an increase of 20%. Condo sales were up as well, with six in December, up from just a single sale in December of 2008. The year, however, saw an actual decline in condo sales, with just 34 sales this year versus 40 in 2008, a decrease of 15%.

Prices of Poipu homes for sale, however, did not show many signs for improvement and it may be a long time before they ever reach their pre-crisis peaks. In December, the median price for a home sold was just $635,000, down from more than $1.1 million the year before at the same time, a decrease of nearly 50%. For all of the year, the median price was measured to be $507,500, down nearly 35% from 2008 prices, when it was $775,000. Condos in the region also saw their values essentially crash. The year-to-date price of a condo in 2009 was around $460,000, down more than 80% from 2008’s figure of $2.5 million.

Because the island of Kauai’s origins are volcanic, the wondrous island is mountainous and at times mysterious. The hanging cliffs and towering peaks add to the dynamic backdrop that Kauai has become known for. Kawaikini, the highest peak on Kauai, stands at 5,148 feet while Mount Waialeale, the second highest peak, is 5,148 feet tall. As one of the wettest places on earth, Mount Waialeale sees an annual rainfall exceeding 460 inches. The high annual rainfall has created deep valleys in the central Kauai mountains and dug canyons with rushing rivers and scenic waterfalls. The most notable one is Waimea River, part of Waimea Canyon State Park. Known to many as the “Grand Canyon of the Pacific,” Waimea River is perfect for those looking for a leisurely kayak up the river. The forests are ripe for hunting, hiking, and exploring, too.

Several visitors to Kauai stay in Kauai vacation rentals and use a car to travel around the island. Beyond the natural beauty of the island the wilderness activities that are quite fun, Kauai also has some nice stretches of beach, some of the best golfing in Hawaii, and a fun collection of boutique shops in Lihue, the main city of the island. Several world-class resorts have large accommodations and spas on Kauai.

Golfing is one of America’s most favorite sports because it can be played by people of all ages, shapes, and sizes. Kauai, too, has become infatuated with golf, as evidenced
by the number of award-winning courses scatted across the island. One of the major draws for Houses for sale in Kauai is the abundance of quality golfing throughout the
area. Princeville Golf Club’s Prince course has consistently been rated “Hawaii’s No.1 Golf Course” by Golf Digest Magazine. The club’s Makai Course is comprised of the
separate nines – ocean, woods, and lakes. Many golfers like the different themes as they offer different challenges for all types of experience levels.

Kauai Lagoons Golf Club offers two 18-hole courses designed by the famous Jack Nicklaus. The Kiele Course includes fairways that weave along imposing ocean cliffs,
over promontories high and above the harbor and among some 40 acres of gorgeous freshwater lagoons. Thee Mokihana Course is considered a Scottish style links course with rolling fairways that are more open and void of forced carries. The renown Robert Trent Jones, Jr.designed the beautiful Kiahuna Golf Club, eighteen holes of spectacular golfing in the breathtaking community of Poipu. Jones also designed a championship
course as the Poipu Bay Golf Course, host of a number of PGA events and prestigious tournaments.

Of the eight major islands that make up the Hawaiian Islands and the state of Hawaii, Kaui is the oldest and fourth largest. Also known as the “Garden Isle,” Kauai lies 105 miles northwest of Oahu, across the Kauai Channel. Approximately 64,000 people live on Kauai. According to the Hawaiian legend of Hawai’iloa, the Polynesian navigator who is said to have been the first to discover the island, Kawai’iloa named the island after a favorite son. Kauai is Hawaiian for “place around the neck” or “food season.”

Like most of Hawaii, Kauai’s economy is based primarily of tourism. In the past, Kauai’s economy was based on sugar, but most of that land is now used for ranching. Land in Kauai is very fertile and plants such as guava, coffee, sugarcane, and pineapple are still grown there on a relatively small scale. Some of the major communities on Kauai include Hanalei, Kapa’a Wailua, Lihu’e Princeville, Waimea, and Po’ipu, and the island is served by the Lihue Airport. Some popular places of interest include the Alakai Wilderness Area, Fern Grotto, Hanalei Bay, Ke’e Beach, Koke’e State Park, Na Pali Coast State Park, Princeville North Shore, Wailua River, and Waimea Canyon.