Sharon Place, Both Buyer and Seller in

What's going on with Hanalei land prices as well as fee simple housing?

Asked by Sharon Place, Tue Mar 18, 2008

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Debra A. Jas…, , 96714
Tue Apr 22, 2008
Aloha Sharon,
If you're asking about land specifically in Hanalei town, there has been one sale in the last 6 months. The property was approx. 3976SF in the Hanalei Palms subdivision. It sold for $855,00 after being on the market 311 days (asking price was $995,000)
Then, there's the Hanalei zone (Kauai is divided into 5 zones) which includes Kilauea, Princeville, Hanalei, Haena, etc. When you look at that (for the last 3 months) you'll find 2.24 acres of vacant land that sold for $600,000 (asking price was $688K, days on market=610) in the Kilauea Farms subdivision and 17,451 SF oceanfront lot in Haena that sold for $1,850,000 (asking price was $2,190,000 days on market =103). So you can see, there's quite a difference depending on which area you're interested in.
As of today, there are approx. 125 land listings on market on the north shore (between Kilauea & Haena) with asking prices going from $300,000 (6964 SF) to $15,000,000 (116 acres which has been on the market for 1015 days). About 6 land listings are on the market in Hanalei town.

With regard to single family (fee simple) homes, there are 11 homes on the market in Hanalei, priced from $1,000,000 to $3,950,000. In the last 3 months, 2 homes sold in Hanalei town. One sold for $2,600,000 (asking price was $2,695,000 days on market = 290) and had approx.2852 SF of living space. The other home sold for $1,738,000 (asking price was $1,779,000 days on market = 361) and had approx.2872 SF of living space.
If you'd like a complete list of what is currently on the market in Hanalei or along the north shore, I'd be happy to send you that information.
Mahalo nui

Debra A. Jason, RA, ABR
Vision Realty All Islands Kauai
1 vote
Mark Goodman, Agent, Princeville, HI
Wed Feb 26, 2014
The market in general has been slow, except land on the North Shore has been selling at a brisk pace and properties that have 1 acre or more up to about $1.3 million have been selling. However houses under $1 million have been slow to sell. But in the last 2 months we have seen a definite uptick in sales of houses priced at $2 million or more.
0 votes
Susanna Kunk…, Agent, Philadelphia, PA
Wed Mar 4, 2009
Aloha Sharon,
Hanalei values have been a mystery to both buyers and sellers in the past year. My own opinion is that the passage of the Visitor Destination Ordinance (VDA) last year has an unknown impact on the valuations in Hanalei. That particular area is particularly "hot" politically regarding vacation rental usage. How will that affect valuations in the long term? None of us really know until we find out if the properties are granted Special Use permits to allow them to continue as vacation rentals, and how that will trickle through to propety values. I have buyers who are watching this, and unwilling to make offers until the dust settles a to speak. If you'd like more information about the VDA Ordinance, please feel free to contact me.
Susanna Kunkel, RA
Hawaii Real Estate Services, LLC
0 votes
Greg Bloss, Agent, Princeville, HI
Fri Apr 4, 2008
In the last 16 months there has only been 3 land sales, ranging from $265K to $6.7K.
As for homes in HANALEI there has 5 five sales from $1.2 - $2.6M and there is currently 10 for sale from $1.1M to $5M.
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