Wailua

“What does half a mill get me on Kauai?”  Now, that’s a good question. One simple answer is, a lot more than it would three years ago, as the real estate market on the island of Kauai began it’s movement into this correction phase. Now, from owners who are overextended, to banks who are more conservative than ever, prices on the Garden Island continue to correct. Naturally enough, the markets which appreciated the most, like Princeville on Kauai’s North Shore, are correcting the most, offering more for less to buyers who are seeking good deals in the marketplace. Here are just a few examples of what you can buy for around half a million.

1. A three bedroom condo at the Plantation at Princeville. There, choose from a Princeville REO unit, with nice ocean views, that is listed for $469,900 or Unit 1421 which has lots of upgrades and is fully furnished for $557,777.  This complex was completed in 2005/06, has central air conditioning, a single car garage, and in general amenities that are not found in some of the older condo complexes on our island. The complex has 68 units, comprised of 17 quadplexes. The 3-bedroom units are on the second floor and have large lanais and generally better views than the ground floor, 2 bedroom units.
   

   Interior Location provides pool views, waterfall sounds, and good view of ocean

2. How about a single family home in Princeville under 500K? This home on the Makai golf course is now priced at $499,900. Yes, it is a bank-owned Princeville REO and has been on the market 70 days. It needs more than a little TLC, but, the bones are good, and the location is excellent.
   

   Golf Course home for Under 500k in Princeville

3. What about a big, three bedroom, almost 2,000 sq. foot home in Kapaa, with modern finishes and big views of the Kalalea mountains AND the big blue pacific? This home is currently listed at $525,000 and is a Kapaa short sale, so the property requires bank approval before selling. Lotta home, lotta lot, lotta views, NOT a lotta $$$.
   

   Cool kitchen, high ceilings, nice fixture

   

   Ocean views PLUS views of the Kalalea mountains - spectacular

4. There are numerous one bedroom condos with excellent ocean views from the north, east and south sides for close to 400k or even less. One thing that unfortunately has not come down are the condo association fees and that’s important to consider when you are looking at the overall total cost of ownership.Poipu Kai condo with great ocean views. Kaha Lani next to the Wailua Golf Course, big ocean views for under 400K

Here’s a list of the best condo values under 500k island-wide. Most of these are Kauai short sales or foreclosures, so I’d highly recommend buyer representation should you chose to pursue one of these.

Kauai Under 500k Great Values list

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