The challenge for many millennial home buyers in Hawaii is finding a quality built starter home. Inventories of entry level homes are critically low in Kauai. The result is that potential buyers must continue to rent further depleting their savings. Monies that could be better invested in a single family residence that, with luck, will appreciate over time. Thus, when a starter home comes to market it creates a great deal of buzz and it is not unusual that they are placed into escrow within the first 30 days on the market.
Our home recently listed with Coldwell Banker Turtle Cove Realty is typical of the present market conditions in Kauai. Only 5 days on the market with almost as many showings it reveals the dirth of homes in this price range. There are a number of factors that make producing a quality affordable home for this demographic in Kauai and all of Hawaii for that matter.
Construction costs are high. Since the great recession a number of craftspeople have left the island to pursue other careers. This lack of skilled professionals mean that the ones who remain demand higher wages thus increasing costs per square foot. Lack of available land and high infrastructure costs are leading negative factors in creating starter homes for young professionals.
Our listing, MLS 293086 is a 1000 square foot 2 bedroom, one and a half bath home situated on 2469 square foot parcel at the corner of Kawaihau Road and Wili Road in upper Kapaa. It boasts a clever floor plan that maximizes the interior footage, and the 400 S.F. carport offers the creative property owner options to create a casual entrance into the living room. The home was built by Appleby Construction in 2015, a local builder known for their attention to detail and it is evident.
The home is easy to show and the team is accepting back up offers on this one of kind new home. Call us today for a viewing. This fine property is co-listed by Christine Appleby RS and Lee Morey PB.
Lee Morey is the owner and Principal Broker at Coldwell Banker Turtle Cove Realty in Kalaheo, Kauai. She can be reached at 808.651.6720 and can be found on Twitter @RealtorLeeMorey