Waipouli Beach Resort & Spa – Kauai’s luxury condominium property in Kapaa, the heart of the island  www.waipoulibeachresort.com

 

Ten years ago people might have looked at the scrappy field across from Safeway and think that something should be done with that over-grown lot… But  to build a luxury mini-resort condominium development complete with acres of water features, ocean-front dining, a full-service spa and a hotel operation on site? It didn’t seem possible…

 

However, from this vision was born Waipouli Beach Resort & Spa, a four story 190-unit condominium property that officially opened its doors in January of 2007.  It added a new dimension to the repertoire of residential and vacation properties on Kauai.  Waipouli Beach Resort & Spa would set the bar for all others to follow and is as yet unequaled for its outstanding features, variety of amenities and unparalleled central location.

 

Location is everything.  The convenience of its immediate proximity to Kauai’s best shopping, dining and outdoor activities and the central location for exploring the north & south shores as well as the west side makes Waipouli Beach Resort the best choice.   Sleeping Giant Sotheby’s International Realty recently opened a satellite sales office on property and we welcome you to visit us and join us for a tour of this special place.

 

 

 

 

The entry to the property is both majestic and inviting: mature tropical trees and building-high palms were included as an integral part of the landscape design; welcoming visitors and residents into this private enclave nestled along one of the most pristine shorelines on Kauai’s east side.

 

 

 

 

The lobby is home to the full service Spa www.spabythesea.com ; Outrigger Resorts guest check-in desk www.outriggerwaipoulibeachresort.com; Guest services activities Concierge and Sleeping Giant Sotheby’s International Realty’s onsite office www.sleepinggiant.com .

 

 

 

Accommodations are exquisitely accented with warm Indonesian mahogany, cool Peruvian travertine and plush carpet. Superbly appointed gourmet kitchens feature Sub-Zero refrigerators, Wolf convection ovens with glass cook-tops, Fisher & Paykel dual-zone dishwashers and sleek granite countertops. There is elevator access throughout the property and all the units have central ac and full-size front-load washer/ driers.

 

 

 

The property boasts a heated soft-water “lazy river” pool that meanders over two acres of landscaped grounds where you can hide out in a waterfall grotto, take a ride down one of two flumed water slides or “chill out” in any of the three sand-bottom whirlpool spas. There is a “keiki beach” at one end of the pool, providing a safe “beach” experience for youngsters.

 

 

Landscaped walking paths invite casual strolls around the grounds and along the shore. Here you’ll find one the Island’s newest dining experiences – Oasis on the Beach - featuring delicious menu selections for lunch and dinner as well as popular music venues in the evenings – oceanside! Nearby you can join up with the Eastside Coastal Bike Path for an oceanfront run or bikeride.

 

 

The resort offers 190 condominiums in five different floor plans ranging from an 823 sq. ft. 1 bedroom/ 2 bath unit to a 1465 sq. ft. 2 bedroom/ 3 bath floor plan. There are also 6 ADA compliant hotel suites.

 

 

The variety of size, layout, location, views and price range assure that there is literally “something for everyone” at this beautiful mini-resort. Prices range from $220,000 for a hotel suite to over $2,000,000 for an absolute oceanfront condominium residence.

 

Whether you plan to use your Waipouli Beach Resort & Spa home as a vacation rental or a full time residence, there is a fit for you.  Most owners rent their condos out through one of the many options for vacation rental management and/or use them as often as they can during the year.

 

 

 

Imagine watching the beautiful island moonrise from your balcony, or taking off in the morning to catch an early morning horse ride to hidden waterfalls, back in time for a delicious lunch at Oasis and out again on another outdoor adventure… while your friends are back home turning up their furnace! Waipouli Beach Resort & Spa will provide you with the amenities, services, convenience and low-key luxury that you wish for in your Kauai home-away-from-home. 

 

 

 

Please feel free to contact us at any time for more information on this wonderful property. We would be happy to host you, your friends & associates or your Realtor on a tour of the Waipouli Beach Resort & Spa. Come in, have an espresso and some fruit and get to know the aloha spirit of Kauai’s premier condominium property. 

 

Contact Michael Olsen, R 808-651-1384 /

Paul Kyno, RA 808-651-3287 or call 808-821-1564

Have you ever seen “this house is close to everything” or “centrally located” in advertisements for Kauai real estate listings?  Well, on Kauai, I have several listings but the only two that I advertise with that particular tag line are in Lihue.  
                                                    
What exactly does that mean?   Lihueis our County seat and you will find County and State government offices, our main hospital, Costco, our main shopping center; Kukui Grove, Home Depot, Wal- Mart, restaurants, lots of shopping, great schools and several good golf courses and beaches, not to mention our airport and Nawiliwili Harbor!

Since we are on an island with only 60,000 people and limited to approximately 50 square miles of land, it makes sense that we have only one central area for business.  However, that doesn’t mean that businesses and restaurants don’t exist all around the island; they do.  We just don’t have room for more than one major district like Lihue.  But don’t be fooled, Lihue is far from what other cities are like.  We are rural through and through, island wide.  Both of my listings noted here are in uniquely rural spots in the Lihue area, making them very desirable. 

 

The Menehune Bluffs Estate is listed for $1,499,000 (MLS 218279) is in a gated community with an incredible rural feel with privacy and gorgeous views.  Recently appraised for $1,700,000.  Seller wants out and is pricing aggressively!

 

 

This Lihue Riverfront home is listed for $950,000 (MLS 217179) is on the water; the Huleia River that opens out to the harbor and the ocean and offers beautiful kayaking to the Menehune Fish Pond.  It is a distressed property!  Make an offer!

Who looks for houses which are centrally located?  Pilots, medical personnel, business people, families, or those who want to be close to everything and enjoy what our “city” has to offer yet still be in beautiful rural surroundings.  I get asked this question a lot:  “how close is the airport to here?”  If you are in Lihue, it’s within 5-7 minutes from any given start point throughout Lihue.   

Lihue Statistics: 

Population: 5,674

Elevation: 206 feet

Median Age: 44 years

Size: 6 square miles

Average Rainfall: approx. 30 Inches a year  

Tales of overcharging and unscrupulous lending practices by mortgage companies are commonplace these days.  Because of the financial meltdown and the part these mortgage companies played, the Federal Government has created a new tool for Buyers in order to protect them from being overcharged for loan closing costs. This tool is the 2010 GFE (Good Faith Estimate) and it is designed to give Buyers all information about the expenses for their loan at the beginning of the escrow process.  Once the consumer is given the GFE, the Lender is bound by those fees and is not able to change or hide costs at the end, and this includes the costs for the escrow process as well.  The new GFE 2010 form is three pages.  The first page should have the seal of the US Housing and Urban Development in the upper left corner. 

Alan Zukerkorn of Hawaii Mortgage Company wrote the following in his most recent update: “Here are some simple rules to remember when shopping for a mortgage:  The Lender must provide you the 2010 GFE within 3 business days of your application for a loan.  The lender can not require you to provide any income or asset documentation as a condition of receiving the 2010 GFE.  And the most important rule to remember is other than collecting a fee for the initial credit report, the lender cannot request any other money until the seventh (7^th) business day after your application day. Now is a great time to invest in Real Estate and to make certain the experience is a pleasurable one.

“Stop Dreaming. Start Bidding” is the theme for the upcoming auction taking place on March 8, 2010!  Previously offered for $9,995,000 this spaciously stunning, premiere, private, gated estate and guest house will sell at Auction with a reserve of only $2,000,000!  Designed by one of the most renowned architects in the state of Hawaii, Alwynn Trigg-Smith, and built by Kauai’s premiere builder, R.S. Weir, this majestic estate property is situated on a 5.79 acre ocean bluff lot perched just above Kuna Bay (Donkey Beach) in Kealia; the gateway to the north shore.  The lot provides for direct beach access to Donkey Beach and Kealia Beach. 

 

The adjacent 5 acre ocean bluff parcel will also be sold at Auction with no minimum price or reserve!  Cleared and ready for construction, the pre-sale estimate on the adjacent lot is only $500,000 - $1,500,000, which would be a huge reduction from what the owner’s paid many years ago. 

 

If you are interested in obtaining more information about the property being auctioned email or call me today.  I have a pdf package of detailed information I can send you!

 

  

Kauai should look pretty good to all Canadians interested in buying property right now! Besides being 80 degrees F in the middle of winter, there are good economic reasons too.   The Canadian dollar now sits almost on par with the U.S. dollar.  Canadians are also enjoying an economy that is fairly stable.  If you have been waiting to see what happens with the Hawaii real estate market, wait no more.  Conditions could not be better for Canadians; strong Canadian dollar, falling or stabilizing real estate prices in most sectors of the Kauai market and continued low interest rates.  Any piece of real estate could be a good investment for a Canadian citizen just now.  Call us and we can match you up with your perfect piece of Kauai.

The December 7, 2009 issue of Time Magazine just confirmed what we always knew:  Hawaii residents top the nation for the "happy factor".

According to the article, the Center for Disease Control and Prevention conducted two nationwide surveys (1993 to 2001 and 2003 to 2006), asking 2.4 million people about their overall mood. The researchers were looking for something they called "frequent mental distress" and asked respondents to tell them how many days in the preceding month their mental health had been less than optimal. Frequent mental distress (FMD) was defined as having 14 or more bad days out of 30.  Apparently, 9% of Americans suffer from FMD, with Kentucky, West Virginia and Mississippi leading the "sad" states.  But in both surveys, Hawaii averaged only 6.6% of people suffering from FMD, making it the happiest of states in both surveys!

The article ends with this quote, "Never mind the Dow and the S&P; the true national indicator may be the FMD."

And that news just confirms what the locals always say: "Lucky you live Kauai."

A letter I received dated January 4, 2010 from Jeffrey Proster, President of Brookfield Homes Hawaii, stated the already delayed Pili Mai development on the Kiahuna Golf Course in Poipu will be postponed indefinitely.  Among other things it said, “In light of the current market challenges, our team has determined that it is not possible to proceed with the schedule that we previously communicated to you…when we are prepared to move forward and are confident that the market supports our new direction, you will be provided with an early opportunity to preview our offering.”

 

I attended a Broker’s luncheon back in July 2009 sponsored by Brookfield Homes Hawaii.  At the luncheon they updated us on the current construction plans and explained that due to the new financing restrictions they were forced by their lender to stop construction of the infrastructure which had already begun, and would not be able to resume construction until a minimum of 20 additional reservations/contracts were received.  Their goal was to have at least 20 contracts by the end of 2009 in order to resume construction, which it appears didn’t happen.

 

Brookfield Homes Hawaii still has a few units left for sale in its north shore development, Nihilani, and the prices have been incredibly discounted!  For information about availability and pricing at Nihilani or for information about the remaining new developments going up in the Poipu area, contact me.

 

 

If there were a more challenging year for a Realtor on Kauai than 2009 I cannot remember it. And I have been doing this for 31 years! Property values continued to move downward and the number of transactions that closed was significantly off. This coupled with a very large group of agents trying to work the same stunted areas made for a difficult year. I do not believe that the Sellers had it much better either, as most have lowered their asking prices and continue to have their property on the market.

Buyers on the other hand, the ones who moved forward with a purchase contract and bought property, were pleased. One bright spot was the continued low interest rates for borrowers who qualified. However, the rules for qualifying have also tightened up over 2009 and thus created more difficulty for those purchasers who wanted to buy a home, but who now are unable to qualify for a mortgage.

The advent and continuation of the first time homebuyer credit has been helpful for the affordable level of the Kauai market. Buyers with cash, who do not need to get a loan for their purchase, are in an enviable position right now.

Nevertheless, there were some significant sales during 2009. Tara Plantation, a 178 acre oceanfront estate finally sold for $28,000,000 after many years on the market. In addition, the Moore Estate, an 8 acre oceanfront property with an old beach house on it in the magical Limahuli area of Haena sold for $10,000,000 after a long 5 years on the market. There remain many gorgeous oceanfront and estate offerings on Kauai, some with attractive price decreases. It may sound like a broken record, but it really is a great time to buy property on Kauai.

The St. Regis (formerly Princeville) Hotel and the Koa Kea (formerly Poipu Beach) Hotel are both open for business now. The weather is beautiful and life on Kauai continues to be very fulfilling even in the midst of this economic crisis.

We look to 2010 as a year of recovery. Sales statistics are already showing signs of improvement in the number of sales. However the average purchase prices are not showing much of an increase. This is a really good time to purchase property on Kauai! Prices are not increasing yet, interest rates are still low for home mortgages and inventory is starting to clear out. As the inventory shrinks, we expect prices to stabilize and begin rising again. The most exciting thing about 2010 is our new website: www.KauaiRealE.com where you can find up to the minute listing info, sales statistics, informative blog entries, great mapping and property listings with maps showing all lot lines—for every property being offered for sale on Kauai. We wish you a happy and healthy 2010. Aloha and Mahalo, from the Agents and Staff of Sleeping Giant Sotheby’s. 

 

 

On October 1, 2009 I officially launched my partnership with Hawaiian Airlines HawaiianMiles program. The way it works is simple. Buyers and Sellers who work exclusively with me have the opportunity to earn THOUSANDS of HawaiianMiles on their Kauai real estate transactions. I was the first, and am still the only real estate agent on Kauai with a HawaiianMiles partnership.

Due to the overwhelmingly positive response I have received these past three months, I have decided to continue the partnership into 2010! If you are interested in earning thousands of HawaiianMiles on your next real estate transaction, please send me an email or call me for details. Also, feel free to share this information with anyone you know who might be interested...I truly appreciate your referrals! Happy New Year!

 

I’ve been asked this question a lot recently from clients who are uncertain whether they should put their house on the market, rent it out, or do both. It really depends on the individual’s situation. Now is not the best time to sell unless you really NEED to sell or really WANT to sell NOW. In many cases if you purchased your property in recent years chances are you aren’t going to make any profit off the sale, and it’s likely you won’t even break even and will probably be selling at a loss. For this reason many owners are choosing to rent out their properties instead of selling while they wait for the market to turn upward.

Some choose to rent out their property while listing it for sale so they can continue to receive rental income while trying to sell. This option has both pros and cons. Of course most sellers would be happy to have income from their property while it’s for sale rather than have it sit empty for possibly several months on the market. The negative to this would be that tenants might not keep the property up to top showing condition like an owner would do, so the property might not show as nice or clean as it would if it were vacant or owner occupied. Another negative is Hawaii landlord-tenant code states a tenant must be given 2 days minimum notice for any showings. They can always agree to allow you to show it sooner, but they must be given 2 days notice so you could potentially lose out on prospective buyers who want to see the property sooner than that.

If you have a long term rental currently tenant occupied and are considering listing the home for sale, I would suggest you set up a time to discuss your plans with your tenant either in person or by phone. You might consider offering your tenant a small reduction in rent in exchange for their kind cooperation in keeping the property in the best showing condition possible, and in recognition of the inconveniences the tenant will experience having to make the home available for showings. I’ve found that tenants really appreciate a landlord who is sympathetic to the hassles of living in a home that is for sale and offers to give them back something in return for their assistance and on-going cooperation, whether it be a reduction in the monthly rent, a gift card of some kind, or any other form of appreciation, it will go a long way and probably end up to be well worth the cost.