Breaded Lamb with Vegetables from Kauai Grill
As someone that loves food, good food, I’m always looking for somewhere different to eat when going out. Now please don’t get me wrong here, I do still enjoy many of the already established restaurants, but the choices have been somewhat limited on Kauai’s North Shore. I recently had the pleasure of trying two of several new North Shore establishments and am thrilled to share them with you.
Ahi entree from Kauai Grill
With the much-anticipated opening of the St. Regis Princeville Resort, I was excited to learn that they expanded from the usual hotel fare with the opening of Jean-Georges’ Kauai Grill. I read a bit about Jean-Georges and flipped through one of his cookbooks prior to going. His recipes are too complex for me to attempt at home, but I definitely wanted to try them…prepared for me. After walking through the entry I felt as if I had been transported to a very hip New York eatery…until I spotted Bali Hai from the window. The décor is a wow, especially if you have dined there in the past when it was La Cascata. When you go there, be sure to check out the amazing glass chandelier in the middle of the restaurant that changes color every few seconds. We found our waitress helpful, but not overbearing. The food, all a la carte, was outstanding both in presentation and to the taste. And the prices were much more reasonable than I expected, especially for the quality and location. I’ll definitely be going back there! More »
Now only $495,000! This 3 bedroom 2 bath home (MLS #231185) in the Kilauea Estates neighborhood is a rare find. Ideally located at the end on a cul-de-sac, this single story residence features a vaulted ceiling in the living/dining room, built-in closet organizers with drawers in Master and 2nd bedroom, a solar water heater, enclosed 2-car garage, partially fenced yard, and mountain and Bali Hai views. More »
Posted by Jessica L. Mugrage, RA on December 28th, 2009 |
Tags: Big Island, Hawaii, Honolulu, Investment, Kauai, Lanai, Maui, Molokai, Oahu
With real estate prices the lowest in years, and abundant inventory to choose from, more and more clients have inquired about “flipping properties.” They want to know if now is the time to buy and sell for a profit.
When the real estate market was up, flipping real estate was somewhat commonplace. I’d see the same investors buy a property, sell a property, buy a property, sell a property and so on…making a lot of quick profits. I heard mixed reactions at the time from those on the sidelines, from those that were disgusted by the amount of money being made to those that wanted to jump in and be a part of it.
Several television shows aired simplifying the flipping process, from purchase to sale, all within a 30-60 minute broadcast. Even with unexpected delays or problems, the investors always managed to come out on top, walking away with a substantial profit from a property that they might have owned for just a few short weeks, if that. And while there definitely were a lot of success stories, it was made to look easy and that anyone can do it. Unfortunately, we are well too aware that not everyone should do it.
Lets look at just two points to consider when purchasing investment property:
1. Money
- Buyers need to be pre-qualified now more than ever if seeking financing. Those days of 100% financing are memories for most. And be prepared to cover all costs of the mortgage, taxes, HOA dues, utilities, etc.
- For rental property, be prepared to cover those costs listed above, just in case renters default or you find yourself without tenants.
- Repairs should also be factored in for not only materials, but labor costs too.
- Don’t forget about capital gains tax for when you sell.
2. Time
- Selling the property for profit may take longer than what we saw in the past. This is due to several factors like supply and demand (there’s more supply now than what we saw in the last 10 years).
- Consider buying and holding. Prices have not moved in an upswing yet, so patience is key.
With the lower sales prices and interest rates, it can be expected that flipping properties will make a comeback. After all, history usually repeats itself. But just make sure to ask yourself, do you have what it takes?
Jessica L Mugrage, RA can be reached at 808.639.6182.
Many visitors come for brief visits to see the Kilauea Lighthouse and Kilauea Point National Wildlife Refuge, but those who linger longer discover there’s a lot to offer in this small north shore community.
Originally a sugar plantation, Kilauea Town has flourished into a residential community with many modern day conveniences. There are public and private schools, several places of worship, medical facilities, numerous unique shopping opportunities, a salon, natural food grocer, restaurants, a bakery, an ice cream and video rental store, and more all within close walking distance. You’ll also find a community center with a gym and adjacent lighted baseball/soccer field where a variety of activities and events take place.
A new community facility just outside of Kilauea Town has recently broken ground mauka of the highway, and will feature an 18-hole miniature golf course with botanical garden and clubhouse in its first phase. A second phase is said to include a multi-purpose amphitheater.
With all these amenities and Kilauea’s close proximity to several beautiful beaches, its no surprise Kilauea Town’s real estate market has seen a fair amount of activity so far this year. There are currently 8 homes listed for sale from the mid $300K to $600K. In this price range, there have been 11 sales and another 6 are in escrow to date. Kilauea town had only four residential sales in this price range in 2008.
