Koloa, also known as “Old Koloa Town,” is located on the South Shore of Kauai just north of Poipu. As the site of the first sugar plantation in Hawaii, Koloa is rich in history and charm. This charm exudes itself in the character and look of Koloa with a plethora of shops and businesses filling the old buildings throughout the town. Over the years, while there are a few still working plantations, most of the sugar plantations have been replaced by guava and other tropical fruit. Tourists have discovered Koloa over the years and are a haven for fishing, snorkeling, surfing and scuba diving. Additionally, in the summer, tourists and islanders flock to Koloa in July for the Koloa Plantation Days Celebration. Koloa is a more upscale area of Kauai mainly because tourism is such a strong industry. The high cost of living associated with Koloa is offset by the tourism dollars coming into the area. With a population just over 2,000, the median household income is about $54,000.
Koloa real estate prices vary greatly depending upon the location and views from the home. The median home price between September and November 2011 was around $350,000 which represents a significant decrease over several years. Because tourism is such a prosperous industry in Koloa, many properties, especially condos, for sale are great investments as rental properties and offer strong rental history. One-bedroom condos mostly start at just under $200,000 at Waikomo Stream Villas, Sunset Kahili, and Koloa Garden Apartments.For larger condos or those closer to the water and with more panoramic views, listing prices starting in the upper $400s are available at popular resorts like Makahuena, Poipu Sands and the Lawai Beach Resort. More luxurious properties at Nihikai Villas, Alihi Lani, and Koloa Landing start in the upper $800s and climb over the $1 million mark. There is something for everyone wanting a slice of tropical heaven. In terms of single-family homes, properties in need of a little or more work and updating are listed at prices starting in the mid $300s and climb to over $8 million. Most homes are priced within $500s and $600s. As for distressed properties such as REOs and short sales, there are several in the area.
With the beauty, exclusivity of the area and proximity to Poipu, Koloa is a great area in which to buy real estate. It has much to offer in terms of the quality of an investment or the quality of life there for full time residents. Real estate prices are sure to rebound over the next few years so now is the time to buy in Koloa to get a phenomenal return on your investment.