Kauai Real Estate and Local News Update

*****Hawaii Foreclosure Scam*****

Five people have been arrested for tricking homeowners who were facing foreclosure.  The five Honolulu residents told homeowners they could remain in their homes if they agreed to fake sell their home but the “transaction” eventually resulted in foreclosure.  To date more than 17 people have been charged in Hawaii with mortgage fraud claims.

 So how did we do last week on new listings and sales?  As you will see we have another great week of closed transactions, the new inventory that came on the market is a little lower than what is has been.  For a complete list island wide    CLICK HERE FOR SPREADSHEET

*****Poipu Condo Catches Fire*****

A unit at the Manualoha, which is located at the Poipu Kai here in Poipu, caught fire on Monday and $900,000 worth of damage was done.  The cause for the fire is under investigation.  The 2 bedroom 2 bath unit was on the top floor and was totally destroyed and the unit below sustained smoke and water damage.  Fast acting construction workers in a nearby unit saw the smoke and alerted the fire department and tried to put the flames out while help was on the way.

*****Tourist Hummer Burst into Flames*****

A visitors Hummer burst into flames on Lumaha’i Beach on the North Shore late Saturday after the driver got stuck in the sand while driving on the beach.  The black smoke billowed and the tires melted while the driver posed for photos with locals waiving “shaka” signs.  No injuries were reported.

*****Governor Vows to Veto Tourist Tax Hike*****

In effort to cover the budget shortfall Hawaii lawmakers approved several tax hikes and Governor Linda Lingle has vowed to veto the bill.  If she does this a Democratic controlled Legislature would be faced with it’s first ever opportunity to override her veto.  Governor Lingle is considering the cigarette tax hike which would bring in $26 to $28 million a year.  Currently a joint House-Senate committee is working on a budget that would spend 2 billion less in the next two years. 

The items that the Hawaiilawmakers passed and sent on to Lingle are:

Accommodations tax to go from 7.25% to 8.25% and then 9.25% the following year

Increase in income tax for those making more than $150,000 for single filers, heads of household at $225,000 and joint filers making an excess of $300,000.

Tax raise on second home transfer valued at over 2 million

 Lingle feels she can get the money in labor savings from government workers but the unions have shown little willingness for that.

*****Passengers and Crew Injured on Air Canada Flight*****

Fifteen people were injured on board an Air Canada flight that was flying from Sydney Australia to Vancouver, British Columbia when it hit extreme air turbulance.  The flight was diverted to Honolulu where 9 passengers and 2 flight attendants were treated for injuries.  After two hours the plane departed to Canada after it was inspected.