KAUAI STATISTICS SEPTEMBER YTD Number of Closings Comparing 1/1/2012 through 9/30/2012 to 1/1/2013 through 9/30/2013

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1 KAUAI STATISTICS SEPTEMBER YTD Number of Closings SINGLE FAMILY RESIDENCE Sept 2012 Number of Closings Sept 2013 Entire Island % Waimea % Koloa % Lihue % Kawaihau % Hanalei % % % % % % % CONDO- MINIUM Sept 2012 Sept Entire Island % Waimea 0 0 N/A Koloa % Lihue % Kawaihau % Hanalei % % 1 0.0% % % % % LAND Sept 2012 Sept Entire Island % Waimea 0 0 N/A Koloa % Lihue % Kawaihau % Hanalei % % 3 0.0% % % % % *All information taken from Kauai Board of Realtors, MLS Sales Data information shown herein, while not guaranteed, is derived from sources deemed reliable.

2 KAUAI STATISTICS SEPTEMBER YTD SINGLE FAMILY RESIDENCE % Entire Island $455,000 $515, % Waimea $314,000 $347, % Koloa $515,000 $585, % Lihue $352,000 $369, % Kawaihau $375,000 $432, % Hanalei $927,000 $855, % CONDO- MINIUM % Entire Island $294,500 $300, % Waimea $252,800 $250, % Koloa $336,000 $425, % Lihue $129,950 $164, % Kawaihau $133,250 $182, % Hanalei $400,000 $517, % LAND % Entire Island $270,000 $300, % Waimea $150,000 $167, % Koloa $246,500 $303, % Lihue $250,000 $245, % Kawaihau $255,000 $345, % Hanalei $337,000 $492, %

3 SEPTEMBER 2013 YTD Single Family Residences Sales Volume Single Family Residence SALES VOLUME % Entire Island $218,725,233 $237,190, % Waimea $5,149,000 $8,969, % Koloa $51,756,550 $69,433, % Lihue $12,644,449 $12,733, % Kawaihau $50,231,084 $67,610, % Hanalei $98,944,150 $78,442, % -20.7% +34.6% +74.2% +0.7% +34.2%

4 SEPTEMBER 2013 YTD Condominiums Sales Volume SALES VOLUME Condominium % Entire Island $83,410,981 $105,660, % Waimea $252,800 $250, % Koloa $23,870,050 $36,413, % Lihue $9,863,550 $14,066, % Kawaihau $12,101,530 $14,638, % Hanalei $37,323,051 $40,292, % +8.0% +21.0% -1.1% +42.6% +52.5%

5 SEPTEMBER 2013 YTD Land Sales Volume SALES VOLUME Land % Entire Island $45,616,849 $72,638, % Waimea $416,000 $476, % Koloa $15,058,000 $40,332, % Lihue $1,809,400 $4,504, % Kawaihau $8,884,450 $8,020, % Hanalei $19,448,999 $19,304, % -0.7% -9.7% +14.4% % %

6 Absorption Rate Using September 30 Available Inventory What is Absorption Rate?* The rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the total number of available homes by the number of sales per month. The figure shows how many months it will take to exhaust the current supply of homes on the market. A high absorption rate may indicate that the supply of available homes will shrink rapidly, increasing the odds that a homeowner will sell a piece of property in a shorter period of time. Investopedia explains 'Absorption Rate' For example, suppose that a city has 1,000 homes currently on the market to be sold. If buyers snap up 100 homes per month, the supply of homes will be exhausted in 10 months (1,000 homes divided by 100 homes sold per month). If a homeowner is looking to sell a piece of property, he knows that half of the market will be sold out in five months. This rate does not take in to account additional homes that enter the market. The absorption rate can also be a signal to developers to start building new homes. September Absorption Rate Inventory as of September 30, 2012** Inventory as of September 30, 2013** Active Listings of Single Family Residence (SFR) SFR Absorption Rate 13 Months of SFR Inventory Available 12 Months of SFR Inventory Available Active Listings of Condominiums Condominium Absorption Rate 18 Months of Condo Inventory Available 12 Months of Condo Inventory Available Active Listings of Land Land Absorption Rate 48 Months of Land Inventory Available 26 Months of Land Inventory Available August Absorption Rate Inventory as of September 30, 2012** Inventory as of September 30, 2013** Active Listings of Single Family Residence (SFR) SFR Absorption Rate 18 Months of SFR Inventory Available 13 Months of SFR Inventory Available Active Listings of Condominiums Condominium Absorption Rate 11 Months of Condo Inventory Available 12 Months of Condo Inventory Available Active Listings of Land Land Absorption Rate 38 Months of Land Inventory Available 17 Months of Land Inventory Available *Definition Source: Investopedia **Active Listings includes pending and contingent listings. Inventory as of Septmeber 30 of each year. All information provided by Hawaii Information, while not guaranteed, is derived from sources deemed reliable. PRESTON BREDE VP, Branch Manager, Escrow Officer (Kapaa) PBrede@ortc.com ROSE LOW Escrow Officer (Kapaa) RLow@ortc.com Kapa a Office Kuhio Highway, Suite #140 Kapa a, HI Phone Fax (866) ortc.com Koloa Office 3417 Poipu Road, Suite #109, Koloa, HI Phone Fax (866) ortc.com ROCHELLE KEOHO Escrow Officer (Kapaa) RKeoho@ortc.com MERCY NUESCA BEA JEAL Escrow Assistant (Kapaa) VP, Escrow Manager, MNuesca@ortc.com Escrow Officer (Koloa) BJeal@ortc.com TWANDA MELE COLE Escrow Assistant (Koloa) TCole@ortc.com KATHLEEN KAHAI Escrow Coordinator KKahai@ortc.com Catherine Pennell ACCOUNT EXECUTIVE CPennell@ortc.com