Princeville, a town on the North Shore of Kauai, is situated on land that was once a coffee plantation. Although it has a small land area of only 2.4 miles, Princeville is the largest planned development on Kauai. There are a huge number of resorts filled with guests flocking to three beaches – Puú Poa; Kenomene Beach; and, Kaweonui Beach. The backdrop of Princeville is absolutely nature at its finest with lush and tropical mountains that are lined with waterfalls. Princeville also sits atop a bluff overlooking Hanalei Bay.
This is a small and warm community with about 1,700 residents living in Princeville residing full time. Although there are several resorts dotting the area, almost 70% of the homes are owner occupied. Residents are very well educated and are part of the enormous tourism industry workforce. Princeville is also home to a lot of golfers at various skill levels.
Because this area is such a huge tourist attraction, there are lots of opportunities for real estate investing as well as purchasing a second or vacation home. There are also properties to fit many budgets making this a very sought after area.
With condominium purchases, buyers can look at getting their feet wet with Kauai real estate by purchasing a fractional ownership. This kind of purchase gives buyers the chance to own a portion of the home and have use of it for a certain number of designated weeks each year. There are lots of fractional ownerships opportunities in Princeville starting under $100K at resorts like the Cliffs at Princeville and Plantation at Princeville. Other developments like Bali Hai offer units with fractional ownership in the mid $100s. These properties are typically located within resort communities and give the owners access to all of the amenities available at the resort.
Full ownership condos are also very prevalent in Princeville with a handful starting in the mid $100s for one-bedroom units at Princeville Paniolo. Most condos in Princeville start in the mid $400s for units with decent furnishings and views like those at Puamana, Sea Lodge and Emmalani Court. If luxury is a hot button, the Hanalei Bay Resort, Hanalei Villas and Ka’iulani of Princeville have properties that climb over the $1 million mark.
Though the resort market is a big one in Princeville, single family homes are available for buyers wanting to settle down in this quaint little town. Most homes start in the mid $400s and climb up to about $3 million in neighborhoods like Emmalani Court and Queen Emma’s Bluff.
The median sales price overall in September/October was $430K with the average number of days on the market standing at about 275 days. Additionally, there are always a handful of distressed properties in Princeville. Distressed condos typically start in the low to mid $200s with distressed single family homes starting in the low to mid $400s.
Whatever the purpose, Princeville real estate is a great place for investment. Condos have excellent units available with exceptional rental histories for the investor while the economy is rebounding making it a perfect place to move permanently or own a second/vacation home. Princeville has a little of everything for everybody – resort amenities for the active people and a laid back island lifestyle for those who want to kick back and chill out in this island paradise.